Was Bitcoin actually just a Pump and Dump?

[deisik]

But who controls banks? Right, a central bank. But the central bank is most certainly controlled by the government. For example, the seven members of the Federal Reserve Board of Governors are appointed by the president of the US and then confirmed by Senate...

Central banks are usually independent. They are not controlled by the government, but accountable to it.
For example, the Federal reserve has its objectives - maximum employment and stable prices. It is accountable to the Congress if there is perceived failure to meet these objectives.

Putting your men at the head of a company (or governmental agency, for that matter) is usually the best thing you could possibly do if you aim to control it. You may indeed have other ways to reach the same effect, but this one seems to be the most efficient and straightforward, without much beating about...

It doesn't necessarily mean that your aims will be opposite to those declared, though

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[sdp]

Who ever automatically thinks conspiracies never happen are ignorant of history.  Take the assassinations of emperors of ancient Rome.  Not to say, that they are all true.  Some are true, and some are not.  Historians look back at some deaths and say this might have been a natural death or it might have been poison. 

Most cryptocurrencies have a poor distribution.  Most have a high concentration in a few hands due to pre-mining or insta-mining.  Bitcoin was mined by a small group probably due mostly to obscurity.  I would have put my CPU to mining it even thinking it would never be worth a cent per coin.  Instead, I watched e-gold back in 2009.  I didn't hear about bitcoin until it required expensive graphics cards.

sdp

[aso118]

Putting your men at the head of a company (or governmental agency, for that matter) is usually the best thing you could possibly do if you aim to control it. You may indeed have other ways to reach the same effect, but this one seems to be the most efficient and straightforward, without much beating about...

It doesn't necessarily mean that your aims will be opposite to those declared, though

They may have been your men in the past, but once appointed there is nothing that you can do to ensure that they toe your line. The very fact that they cannot be removed by the government unless they are ineffective ensures some independence.

[deisik]

Putting your men at the head of a company (or governmental agency, for that matter) is usually the best thing you could possibly do if you aim to control it. You may indeed have other ways to reach the same effect, but this one seems to be the most efficient and straightforward, without much beating about...

It doesn't necessarily mean that your aims will be opposite to those declared, though

They may have been your men in the past, but once appointed there is nothing that you can do to ensure that they toe your line. The very fact that they cannot be removed by the government unless they are ineffective ensures some independence.

Do you really believe what you say? If you do, then it means that you don't quite understand how things happen in real politics. You don't work your way up all alone, you can only get where you get if you have a team of people that are faithful and loyal to you through years (actually, decades of years). As you go up the stairs, your team go up with you too. Why should they all of a sudden stop being your men if you help them get just another post?

In fact, they are your lifetime friends

[manwithat]

I dont think BTC is just a pump and dump coin. As you might have already known, pumping btc isn't all that easy anymore... the real whales are rare. pumpers only start their pump, if they expect, that followers will buy back their pumped coins, that what's mostly gonna happen.

[GreenStox]

But who controls banks? Right, a central bank. But the central bank is most certainly controlled by the government. For example, the seven members of the Federal Reserve Board of Governors are appointed by the president of the US and then confirmed by Senate...

Central banks are usually independent. They are not controlled by the government, but accountable to it.
For example, the Federal reserve has its objectives - maximum employment and stable prices. It is accountable to the Congress if there is perceived failure to meet these objectives.

Accountable to it, are you serious, when did you (in the history of mankind) saw a bankster being prosecuted for running the global ponzi scheme called the fractional reserve banking system?

Also so what if they are accountable to the parlament, so who is the parlament accoutable to? Nobody.

It's an elite maffia ruling class ruling above us all.

[bitboy11]

Even if it was designed just to be a pump and dump scheme, it still took on a life of its own and has usurped that position.

Additionally, why didn't Satoshi empty his account during the $1,000+ price tag?
This alone is reason to believe that bitcoin was not intended to be a pump or dump scheme by its creator.

[deisik]

Even if it was designed just to be a pump and dump scheme, it still took on a life of its own and has usurped that position.

Additionally, why didn't Satoshi empty his account during the $1,000+ price tag?
This alone is reason to believe that bitcoin was not intended to be a pump or dump scheme by its creator.

As far as I'm informed, we don't know who or what is Satoshi, and whether he is a human being at all (but not some government agency), so the reasons why he didn't empty his wallet when the bitcoin price had stepped over $1,000 remain totally obscure to us, and may have nothing to do with the pump-and-dump scheme in whatever way...

[LitcoinCollector]

To pump or to dump, I think it doesn't matter.
The blockchain technology is amazing and will have a big impact in the future.

[ninjaskip]

To pump or to dump, I think it doesn't matter.
The blockchain technology is amazing and will have a big impact in the future.

Very true indeed.

[onewiseguy]

How you can say that & Satochi didn't even touch his coins on the first place 

How do you know that some guy or old man called satoshi even has any coins?

http://www.youtube.com/watch?v=w7YmJZ-qVW8

Time 1:34 I want to hack ...Hug you.

[aso118]

Additionally, why didn't Satoshi empty his account during the $1,000+ price tag?

And risk having his identity revealed?
Not for a billion dollars. 

[johnyj]

It is the biggest pump and dump in human history, could last for hundreds of years, and when it is pumped up enough high, fiat money will get dumped, that is a fundamental difference

Fiat money is an instrument of governmental control (and in the case of the US dollar it is also an instrument of world domination). Why would any government consciously and intentionally want to substitute the currency they control with something they cannot ultimately control?

In China maybe, but as I understand, western governments are very poor, they all have heavy debt and fiat money is the tool that banks control them

But who controls banks? Right, a central bank. But the central bank is most certainly controlled by the government. For example, the seven members of the Federal Reserve Board of Governors are appointed by the president of the US and then confirmed by Senate...

I guess bankers controls governments, otherwise government could just ask banks to create some money for them to spend, never need to borrow money from banks. Notice that government do not own FED, FED stockholders are regional reserve banks

FOMC members consists most of president of federal reserve bankers, with 2-3 scholars

[deisik]

Fiat money is an instrument of governmental control (and in the case of the US dollar it is also an instrument of world domination). Why would any government consciously and intentionally want to substitute the currency they control with something they cannot ultimately control?

In China maybe, but as I understand, western governments are very poor, they all have heavy debt and fiat money is the tool that banks control them

But who controls banks? Right, a central bank. But the central bank is most certainly controlled by the government. For example, the seven members of the Federal Reserve Board of Governors are appointed by the president of the US and then confirmed by Senate...

I guess bankers controls governments, otherwise government could just ask banks to create some money for them to spend, never need to borrow money from banks. Notice that government do not own FED, FED stockholders are regional reserve banks

FOMC members consists most of president of federal reserve bankers, with 2-3 scholars

I don't quite think so. In the question of who controls whom, you should consider who has more power. For example, if government can promote their people to take leading posts in an agency, it can be said with surety that the former controls the latter. The degree of control may differ indeed, but it is still unmistakably present there...

[GreenStox]

we love bitcoin for its amazing technology, but there is nothing wrong with the volatility now as we're still in the very beginning.
it's a win win. supporting bitcoin and getting nice profits from the volatility.

Volatility can be very bad for consumers and merchants.

I agree that for speculators is good but speculators have only 1 role to stabilize the price, so that later the merchants can join and built businesses on it.

So its perfectly balanced in a free market.

[Fabrizio89]

The bubble did some serious fuckery that still is persecuting us. The real problem is that we still didn't reset the market and every pump and dump since the bubble just delayed the inevitable retest of lows. Are we at a point were we can finally shake out the problems this bubble created? Many indicators on longterm say no, but if it's actually this is the time when fresh money comes in, then we might be at a turning point.

[deisik]

The bubble did some serious fuckery that still is persecuting us. The real problem is that we still didn't reset the market and every pump and dump since the bubble just delayed the inevitable retest of lows. Are we at a point were we can finally shake out the problems this bubble created? Many indicators on longterm say no, but if it's actually this is the time when fresh money comes in, then we might be at a turning point.

Could you expand more on which problems the bubble had created, and what do you actually mean by resetting the market? I suspect that the bubble (I guess you mean that soaring to 1000$+ highs) was not good either, but I can't pinpoint what's wrong with it exactly (that is still pursuing us)...

[Amph]

The bubble did some serious fuckery that still is persecuting us. The real problem is that we still didn't reset the market and every pump and dump since the bubble just delayed the inevitable retest of lows. Are we at a point were we can finally shake out the problems this bubble created? Many indicators on longterm say no, but if it's actually this is the time when fresh money comes in, then we might be at a turning point.

Could you expand more on which problems the bubble had created, and what do you actually mean by resetting the market? I suspect that the bubble (I guess you mean that soaring to 1000$+ highs) was not good either, but I can't pinpoint what's wrong with it exactly (that is still pursuing us)...

that bubble 1200 peak created problem related to many people that lost money(many "average joe" aka newbies), because they rode the wave, and now those same people lost faith in bitcoin and they will never invest against unless the price fall to sub 100

those same people told their story to their family and friends, which is result in a big spreading of talking against how not good is bitcoin as investment ecc...

this is the problem which that bubble caused, a big one indeed

[deisik]

The bubble did some serious fuckery that still is persecuting us. The real problem is that we still didn't reset the market and every pump and dump since the bubble just delayed the inevitable retest of lows. Are we at a point were we can finally shake out the problems this bubble created? Many indicators on longterm say no, but if it's actually this is the time when fresh money comes in, then we might be at a turning point.

Could you expand more on which problems the bubble had created, and what do you actually mean by resetting the market? I suspect that the bubble (I guess you mean that soaring to 1000$+ highs) was not good either, but I can't pinpoint what's wrong with it exactly (that is still pursuing us)...

that bubble 1200 peak created problem related to many people that lost money(many "average joe" aka newbies), because they rode the wave, and now those same people lost faith in bitcoin and they will never invest against unless the price fall to sub 100

those same people told their story to their family and friends, which is result in a big spreading of talking against how not good is bitcoin as investment ecc...

this is the problem which that bubble caused, i big one indeed

As I can tell, these people bought bitcoin to speculate it, right? Evidently, they got hurt in the end (this had to be expected), but is it what bitcoin is all about, i.e. speculation (or investment in your speak)?

[MR1]

No. If this was the case Satoshi would have dumped his coins and bought his own island by now. That's not to say he wont dump them in the future but there's always the risk.

How do you know Satoshi still holds his coins???