Was Bitcoin actually just a Pump and Dump?

[farhaan]

Actually, pump and dump is done in altcoins where market capital is small and price can be easily manipulated by big whales.They can pump the price for selling at high price and dump the price for buying the same coins in return at lower price.But bitcoin is a world wide market with huge market capital. So bitcoin price cannot be manipulated by pump and dump.But still, sometimes, situations in china have an impact on bitcoin price. Last month, there was a huge increase in bitcoin price fro $750 to $1150 followed by a immediate fall to $850 due to actions taken by PBOC.

[dhampir-D]

It's the nature of bitcoin to have major changes in its price.
Everybody who deals with bitcoin knows that.
I even think that psychological factors are as responsable for the bitcoin price creation as the bitcoin whales are.
In bitcoin, times where we have no price fluctuation are rare, not the other way round.

You are right. Bitcoins price is volatile and so its normal to say that it is a pump and dump. Everything in the market follows this kind of rule pump and dump or should we call it properly as buy and sell. But even though there is a pump and dump bitcoin is still a true cryptocurrency. And if the creator made the coins to profit he will no longer need to create scams, hacks and other illicit jobs just to earn since if they hold a huge number of coins they will no longer need to do that.

i think the bitcoin trend is toward increasing and not going to decrease, although increasing the market take some correction therefore the price temporarily fell down and after that it start increasing again. so we can say that tie price of bitcoin is continuously increasing,

The next directions the market will take remain difficult to predict, but chances are low that we will see another crash as it happened a few weeks ago. And most of the analyzes I've seen so far point out that there is great potential for Bitcoin to deliver good results throughout the year... But it's hard to know what will happen tomorrow, or the day after... Short-term predictions are Something that I consider more difficult in that market.

[justdimin]

It's the nature of bitcoin to have major changes in its price.
Everybody who deals with bitcoin knows that.
I even think that psychological factors are as responsable for the bitcoin price creation as the bitcoin whales are.
In bitcoin, times where we have no price fluctuation are rare, not the other way round.

You are right. Bitcoins price is volatile and so its normal to say that it is a pump and dump. Everything in the market follows this kind of rule pump and dump or should we call it properly as buy and sell. But even though there is a pump and dump bitcoin is still a true cryptocurrency. And if the creator made the coins to profit he will no longer need to create scams, hacks and other illicit jobs just to earn since if they hold a huge number of coins they will no longer need to do that.

i think the bitcoin trend is toward increasing and not going to decrease, although increasing the market take some correction therefore the price temporarily fell down and after that it start increasing again. so we can say that tie price of bitcoin is continuously increasing,

The next directions the market will take remain difficult to predict, but chances are low that we will see another crash as it happened a few weeks ago. And most of the analyzes I've seen so far point out that there is great potential for Bitcoin to deliver good results throughout the year... But it's hard to know what will happen tomorrow, or the day after... Short-term predictions are Something that I consider more difficult in that market.

Why you do not start considering long term price movements of bitcoins. I believe long term predictions will be safer for any investors as well as for traders. We never need to bother about short term fluctuations in that case. Pump and dump are common with the any trading instrument, so we never need to worry about those with the respect to bitcoin investments.

[audaciousbeing]

Every trading item has always been pump or dump and bitcoin or any other alt wont be an exception but the issue will now be the volume that will really make a difference. The reason for that is because when I decide to sell my coins for Fiat then that is also a dump but the value I own is just not enough to make a difference in the price of bitcoin. So, I believe its about that, the rich money bags when they are ready, they continue to mop up the market to be high enough then sell and drive the price to the bottom for it to start gathering momentum all over again.

[john2231]

Every trading item has always been pump or dump and bitcoin or any other alt wont be an exception but the issue will now be the volume that will really make a difference. The reason for that is because when I decide to sell my coins for Fiat then that is also a dump but the value I own is just not enough to make a difference in the price of bitcoin. So, I believe its about that, the rich money bags when they are ready, they continue to mop up the market to be high enough then sell and drive the price to the bottom for it to start gathering momentum all over again.

you can not control the price of bitcoin you can only a small trader or holder of bitcoin so there is no effect if you dump your bitcoin because you are just holding a small amount but if you are holding the amount of 1000 btc i think you can the movement of the price if you dump it all..

[megynacuna]

It looks like s pump and dump from afar but if you make an effort to understand its development and economic principles you'd appreciate the fact that it was made to be decentralized - hence no central banks imposition of inflation and so the miners and traders are actually controlling the prices which is unpredictable depending on the buying and selling of Bitcoin at any point in time.

[sportis]

Maybe, at first when bitcoin was in its "infancy" everybody would have this claim. Today as we see some big companies like as Microsoft, Dell and Virgin Galactic are pretty happy to accept bitcoin as payment for their goods and services without consider many small stores and e-shops. Moreover there are so many people have their savings in bitcoin that seems to me will already have their own research about bitcoin. To summarize bitcoin is a reliable strong global currency even there is not mass adoption but sure is not a pump and dump crap coin.

[bit1]

Maybe, at first when bitcoin was in its "infancy" everybody would have this claim. Today as we see some big companies like as Microsoft, Dell and Virgin Galactic are pretty happy to accept bitcoin as payment for their goods and services without consider many small stores and e-shops. Moreover there are so many people have their savings in bitcoin that seems to me will already have their own research about bitcoin. To summarize bitcoin is a reliable strong global currency even there is not mass adoption but sure is not a pump and dump crap coin.

Because if we analyze it carefully, The price has been increasing until reaching the current levels, it is true that along the way there has been an infinity of p&d or at least that's what it seems, for example recently, I not know if you remember very periodic increases and decreases in the range of +50 -50  in the  prices, now it seems to have stabilized a little more, then and recapitulating, even though you're actually right BTC is strong when compared to the rest, so although some people dump it, this  eventually  will recover as long as there is the demand that has been submitted up to now, but as time passes, this question will be further defined.

[emezh10]

Actually yes. Because all of the pump and dump is happen because in the supply and demand law. If money people buy butcoins the price will go up and many people sell bitcoin the price will go down just like that. So I think many people rather some of the bitcoin millionaire are just controlling the market price for them to have a large profit.

[Atdhe]

I guess now as China is broken, it is obvious the pump and dumps happened until now. (Not that btc is pump and dump)

[bravehearth0319]

I don't have any doubt that this was all just big pump and dump, but my theory is, even the BTC creators didn't realize that Bitcoin would go this far.

True, Mr. Satoshi Nakamoto the creator of bitcoin, the reason why we are here now didn't realize  that bitcoin will go this far. In my assessment the only reason why bitcoin value reached what it is now, it is all because of the whale investors, or big organization that has a capacity to Pump and Dump the price of bitcoin. Or other big exchange sites who bought a huge volume of bitcoin.

[ninjask]

This is interesting .. however Bitcoin is or was a pump and dump .. it just seems to get better and better!

[CarnagexD]

The Bitcoin network is the sum of people transacting in bitcoins with one another directly on the internet. There is no central server or entity, like a government, central bank, corporation, or foundation that controls the network.  Therefore it cannot be manipulated like normal currencies issued by decree and controlled by governments.

Bitcoin moves in the market and can set price on each transaction so literally bitcoin dose have movement such as dump and pump. But it is not just like that. It is more than that as you said bitcoin is a part of transaction that is not much directly because it much aligned on the internet and technology so meaning to say that bitcoin is more capable on dealing with changes and development because if it's movement so it is a good thing for traders to keep in mind.

[Mr.Anonymous]

The Bitcoin network is the sum of people transacting in bitcoins with one another directly on the internet. There is no central server or entity, like a government, central bank, corporation, or foundation that controls the network.  Therefore it cannot be manipulated like normal currencies issued by decree and controlled by governments.

Bitcoin moves in the market and can set price on each transaction so literally bitcoin dose have movement such as dump and pump. But it is not just like that. It is more than that as you said bitcoin is a part of transaction that is not much directly because it much aligned on the internet and technology so meaning to say that bitcoin is more capable on dealing with changes and development because if it's movement so it is a good thing for traders to keep in mind.

But if Bitcoin want become to digital cash and get accept from government, find the ways control Bitcoin very need because if can't taxes Bitcoin, all bussiness and company will going to Bitcoin as currency for avoid pay taxes and will make the economy any country become difficult

[arpon11]

Nice idea and write up, I actually think the same ways before but with the little understand I later got on how cryptocurrency work I have to later changed that idea. Bitcoin though has price manipulation and pump and dump time to time but I don't think there is a conspiracy some way against the poor and it was made to fight bank. Bankers are the one making people poor through manipulation and fraudulent act.

[Rinder]

I dont agree at all Nakamoto were tired to pay high fees to send his/her family as well to the limits the bank system has, since there werent a cheap way to make it before with big ammounts, soo he saw he could create a coin to let trade for a tiny fee. Altcoin borned based on bitcoin and trying to have something better then it, a lot altcoins has a lot features wich bitcoin hasnt and can implement, but all developers now now the crypto power, something Nakamoto just created and saw it grow a lot on the last 7 years, it werent expected at all.

[Proximity Scan]

The Bitcoin network is the sum of people transacting in bitcoins with one another directly on the internet. There is no central server or entity, like a government, central bank, corporation, or foundation that controls the network.  Therefore it cannot be manipulated like normal currencies issued by decree and controlled by governments.

Bitcoin moves in the market and can set price on each transaction so literally bitcoin dose have movement such as dump and pump. But it is not just like that. It is more than that as you said bitcoin is a part of transaction that is not much directly because it much aligned on the internet and technology so meaning to say that bitcoin is more capable on dealing with changes and development because if it's movement so it is a good thing for traders to keep in mind.

But if Bitcoin want become to digital cash and get accept from government, find the ways control Bitcoin very need because if can't taxes Bitcoin, all bussiness and company will going to Bitcoin as currency for avoid pay taxes and will make the economy any country become difficult

That is the main reason why they will never accept bitcoin legally. Very easy, no need to consider bitcoin like it would become a legit way for businesses.

[STT]

Even if bitcoin was accepted as cash by government bodies it wouldnt exclude anyone from the idea of paying taxes.   A few countries have no national currency and they got business which is still paying taxes anyway.  
Ultimately a government will seize assets themselves if companies attempt to avoid the use of cash altogether as an excuse for avoiding laws.   In most countries the tax collection section of government can command the army in its powers over all people within its territory.  Its been like that since major duties were how kingdoms got their revenues and smugglers attempted to bypass, they probably didnt use cash either.  Its such an ancient concept you can bet its not going away from bitcoin use.


Pump and dump presumes bitcoin was never a valid product or had any real basis to it.  Thats not the case, some sections of it were unique and never before seen.  Blockchain will be used no matter, the question really is will this particular BTC symbol continue.   The biggest doubts Ive seen expressed by main stream markets is this idea of excluding copyright, this is the part business doesnt get and probably wont ever accept.

  BTC is still diverse enough that no one section is trying to manipulate the price, if it rises unrealistically its a mass hallucination.   Its heavily related to current macro economic distortion in reserve currencies, an iceberg scenario

[choppork]

I dont agree at all Nakamoto were tired to pay high fees to send his/her family as well to the limits the bank system has, since there werent a cheap way to make it before with big ammounts, soo he saw he could create a coin to let trade for a tiny fee. Altcoin borned based on bitcoin and trying to have something better then it, a lot altcoins has a lot features wich bitcoin hasnt and can implement, but all developers now now the crypto power, something Nakamoto just created and saw it grow a lot on the last 7 years, it werent expected at all.

I don't think Nakamoto has created this coin because of the high fees at all. Knowing that it wouldn't be a sure solution to the problem, he will think of another way of solving it. Plus, bitcoin doesn't have a value at first so the coin was pretty much useless back then. With the knowledge of Nakamoto about the economy, he surely can figure out a way to solve that problem right away assuming that it was his only objective about creating bitcoins.

I also want to point out that the price of bitcoin is pretty much expected by Nakamoto. He said that bitcoin will either have a lot of volume or no volume at all in 20 years. He knew.

[justspare]

I dont agree at all Nakamoto were tired to pay high fees to send his/her family as well to the limits the bank system has, since there werent a cheap way to make it before with big ammounts, soo he saw he could create a coin to let trade for a tiny fee. Altcoin borned based on bitcoin and trying to have something better then it, a lot altcoins has a lot features wich bitcoin hasnt and can implement, but all developers now now the crypto power, something Nakamoto just created and saw it grow a lot on the last 7 years, it werent expected at all.

I don't think Nakamoto has created this coin because of the high fees at all. Knowing that it wouldn't be a sure solution to the problem, he will think of another way of solving it. Plus, bitcoin doesn't have a value at first so the coin was pretty much useless back then. With the knowledge of Nakamoto about the economy, he surely can figure out a way to solve that problem right away assuming that it was his only objective about creating bitcoins.

I also want to point out that the price of bitcoin is pretty much expected by Nakamoto. He said that bitcoin will either have a lot of volume or no volume at all in 20 years. He knew.

Yes he is one of most genius person on the earth that why he has though that all in a past where he was beginning this work. So i would answer you with most good words. Bitcoin is most powerful currency now a days it is attraction people to bitcoin. Because he has mentioned something that he would increase the value of bitcoin and the vol will be never exist mean one currency.