Was Bitcoin actually just a Pump and Dump?

[randy8777]

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??? 

Apparently someone traced the coins thought blockchain.info... even tho its impossible to know because exchange addresses are randomly generated so i dont get it.

people can only guess. but if he really hold the coins from the early days then they will cause major panic if these coins start moving.

[mrhelpful]

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)?

Not everyone, some people buy it because like people in greece who rather see their money into some other form of currency to save their own money.

Translate that back into USD so they wont see their life savings go all at once due to their government going under.

If I was there, Id be doing the same thing, similar to russians as well.

[GreenStox]

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??? 

Apparently someone traced the coins thought blockchain.info... even tho its impossible to know because exchange addresses are randomly generated so i dont get it.

Can you PM me his Bitcoin addresses, i would be really curious to monitor those coins in case they start moving I want to be prepared

[OpenOcean]

It might have been a pump and dump, but it did create utility to the point where almost all majour banks have blockchain technology R&D going on.

[GreenStox]

It might have been a pump and dump, but it did create utility to the point where almost all majour banks have blockchain technology R&D going on.

Well i`d rather look forward to bitcoin to suceed, than to let the banksters create another global ponzi scheme they can control and rip us off...

[Amph]

It might have been a pump and dump, but it did create utility to the point where almost all majour banks have blockchain technology R&D going on.

blockchain technology are nothing without decentralization, the whole point of blockchain isn't just a digital ledger, i would say to the banks, thanks but no thanks, you can take your centralized blockchain and turn back to fiat

bitcoin is still preferably, no point in making a bad copy of it

[GreenStox]

It might have been a pump and dump, but it did create utility to the point where almost all majour banks have blockchain technology R&D going on.

blockchain technology are nothing without decentralization, the whole point of blockchain isn't just a digital ledger, i would say to the banks, thanks but no thanks, you can take your centralized blockchain and turn back to fiat

bitcoin is still preferably, no point in making a bad copy of it

I dont think they would centralize it, but they would definitely make some complicated derivative out of it, which would be so complicately coded, that normal peer-review would not detect it, and so they could hide a ponzi scheme in it.

Besides they would instamine it and keep 99% of it between themselves, or just make it with no fixed supply, and a voting system when to issue more of it.

So they would do the same thing as now, but with a decentralized system, which is a bit shadily implemented and contructed, to have a bitcoin appeal to it, when in fact it would be a scam.

[Amph]

It might have been a pump and dump, but it did create utility to the point where almost all majour banks have blockchain technology R&D going on.

blockchain technology are nothing without decentralization, the whole point of blockchain isn't just a digital ledger, i would say to the banks, thanks but no thanks, you can take your centralized blockchain and turn back to fiat

bitcoin is still preferably, no point in making a bad copy of it

I dont think they would centralize it, but they would definitely make some complicated derivative out of it, which would be so complicately coded, that normal peer-review would not detect it, and so they could hide a ponzi scheme in it.

Besides they would instamine it and keep 99% of it between themselves, or just make it with no fixed supply, and a voting system when to issue more of it.

So they would do the same thing as now, but with a decentralized system, which is a bit shadily implemented and contructed, to have a bitcoin appeal to it, when in fact it would be a scam.

so in the end we will just have a standard altcoin like the one in the altcoin section, but made instead from banks, which are worse than a malicious dev

i could see all the shit in the altsection re-made from banks authority(pos, ico, iipo ecc...)

[Denker]

It might have been a pump and dump, but it did create utility to the point where almost all majour banks have blockchain technology R&D going on.

blockchain technology are nothing without decentralization, the whole point of blockchain isn't just a digital ledger, i would say to the banks, thanks but no thanks, you can take your centralized blockchain and turn back to fiat

bitcoin is still preferably, no point in making a bad copy of it

I dont think they would centralize it, but they would definitely make some complicated derivative out of it, which would be so complicately coded, that normal peer-review would not detect it, and so they could hide a ponzi scheme in it.

Besides they would instamine it and keep 99% of it between themselves, or just make it with no fixed supply, and a voting system when to issue more of it.

So they would do the same thing as now, but with a decentralized system, which is a bit shadily implemented and contructed, to have a bitcoin appeal to it, when in fact it would be a scam.

It seems you're talking about Ripple.

[GreenStox]

It might have been a pump and dump, but it did create utility to the point where almost all majour banks have blockchain technology R&D going on.

blockchain technology are nothing without decentralization, the whole point of blockchain isn't just a digital ledger, i would say to the banks, thanks but no thanks, you can take your centralized blockchain and turn back to fiat

bitcoin is still preferably, no point in making a bad copy of it

I dont think they would centralize it, but they would definitely make some complicated derivative out of it, which would be so complicately coded, that normal peer-review would not detect it, and so they could hide a ponzi scheme in it.

Besides they would instamine it and keep 99% of it between themselves, or just make it with no fixed supply, and a voting system when to issue more of it.

So they would do the same thing as now, but with a decentralized system, which is a bit shadily implemented and contructed, to have a bitcoin appeal to it, when in fact it would be a scam.

so in the end we will just have a standard altcoin like the one in the altcoin section, but made instead from banks, which are worse than a malicious dev

i could see all the shit in the altsection re-made from banks authority(pos, ico, iipo ecc...)

Goldman sachs coin or JP Morgan coin?  That would be funny really.

I can just put my head around how interesting that one would be.

[thriftshopping]

You can say that, bitcoin it's notorious for volatility, but if you are in the right place and the right time you can earn a lot of money form BTC.

[Pab]

Quite good post.i even think partially it is truth,if will be not technology development done i will say it is truth in a case of bitcoin and all enviroment,but there is few good alt and future iscrazy and future is know
So will be newalts not based on blockchain technology

Whatever bitcoin wascreated to just steal some money or not,it cause technology development in digital currencyareaandcreated kind of sociaty.Finally we here ,we are not created by scamers

[cellard]

Everything gets pump and dumped as long as the market allows for it via free supply and demand, there is always a lot of people with a lot of money with agendas, they will pump and dump.
This doesn't change the fundamentals of in the long run: A disrupting technology worth being at sooner than later.

[deisik]

so in the end we will just have a standard altcoin like the one in the altcoin section, but made instead from banks, which are worse than a malicious dev

i could see all the shit in the altsection re-made from banks authority(pos, ico, iipo ecc...)

Goldman sachs coin or JP Morgan coin?  That would be funny really.

I can just put my head around how interesting that one would be.

There is nothing new under the moon. You can turn your head to history, that is, to what is called Free Banking Era, the period from 1837 to 1864 in the US when banks were not subject to special regulations and issued their own paper currency ("JP Morgan coin"). It is noteworthy that an average lifespan of a bank back then was about five years...

You pretend to be an economist, and I am utterly curious what university you graduated from

[mrhelpful]

In the last historic events of bitcoin w. a bitcoin exchange yes.

As long as these exchanges dont do a mt.gox moment they still have the ability to control prices, look at btc-e theres a reason why its way cheaper back in the day.

[techgeek]

so in the end we will just have a standard altcoin like the one in the altcoin section, but made instead from banks, which are worse than a malicious dev

i could see all the shit in the altsection re-made from banks authority(pos, ico, iipo ecc...)

Goldman sachs coin or JP Morgan coin?  That would be funny really.

I can just put my head around how interesting that one would be.

There is nothing new under the moon. You can turn your head to history, that is, to what is called Free Banking Era, the period from 1837 to 1864 in the US when banks were not subject to special regulations and issued their own paper currency ("JP Morgan coin"). It is noteworthy that an average lifespan of a bank back then was about five years...

You pretend to be an economist, and I am utterly curious what university you graduated from

Why would they even to start to do that.

Makes no sense, fiat is whats been making them rich as hell, and the fastest dead currency coming soon near you, but they own almost everything.

[Clint]

Yes, I think bitcoin was pump and dump when it first started. Every cryptocurrency has some kind of pump and dump to have more users.

[NeuroticFish]

No. It was a solid project, not a pump and dump.
People don't have the patience to wait this much for a scam. If it would have been a pump and dump, Bitcoin would have become dust even before the first altcoins came to life.

[master sato]

Just remember a bitcoin is a place holder for the speculative value that we the public assign to it. It has no intrinsic value, and as such reacts like a stock in the speculative market, meaning it is extremely volatile.

[BTCevo]

No. It was a solid project, not a pump and dump.
People don't have the patience to wait this much for a scam. If it would have been a pump and dump, Bitcoin would have become dust even before the first altcoins came to life.

I think people doing this pump and dump because of arbitrage from one exchanger through another exchanger so if they dont have the patience they still can get their own profit through pumping and dumping. But how is this things become a solid project if its price is still volatile?