Was Bitcoin actually just a Pump and Dump?

[Uberzugzug]

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.

I agree to this. Basically no one can actually tell if Bitcoin will go up and down. But just like stock prices or even in forex. It is possible that the price will stay stable or even go up. Yes it may go down in some time but it will not drop price as be a dump.

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[Nerman]

This is an open discussion, so your thoughts more than welcome.

Here is what i think that happened:

"A few people with a lot of money, a few brilliant ideas and the will to fuck everyone up in order to make loads more money came up with a great idea: let's create digital money, some bullshit about fighting banks, some japanese guy that doesn't really exist, silkroad for a bit.
Let's give this Bitcoin thing value by pumping the hell out of it, and let it drop on  a bunch of unwanted childs that dream of getting rich with this shit.
In the Meantime we will have an organized ring of scammers ( Karpelles, cryptorush, mintpal.. etc etc .. ) that will make us even richer.
We will also have another organized ring of scammers/devs that will create new coins so we can pump and dump the hell out of them to make even more and more money.
Once this shit gets regulated we will just leave with more billions and see ya"

No one exectected that bitcoin or altcoins will be a big hit.  I actually heard of bitcoin years ago but ignored it (dumb me) but if you  actually research about bitcoin even the creator or creators did not expect that bitcoin will be considered as an asset. If you think about it when bitcoin was .001  you would not even think on investing on it. If your strategy was pump and dump back then no one would buy bitcoin.

[denny27]

Probably most people are also yeah many who think bitcoin is actually more directed to the term of a pumping and a dumping. I think this is just a term only or meaning from the nature of bitcoin price that always having a decreases and increases that are often spoken by many people as well as determine what to do when that bitcoin price conditions are happening at a certain times.

[pokeronlinestatus]

This is an open discussion, so your thoughts more than welcome.

Here is what i think that happened:

"A few people with a lot of money, a few brilliant ideas and the will to fuck everyone up in order to make loads more money came up with a great idea: let's create digital money, some bullshit about fighting banks, some japanese guy that doesn't really exist, silkroad for a bit.
Let's give this Bitcoin thing value by pumping the hell out of it, and let it drop on  a bunch of unwanted childs that dream of getting rich with this shit.
In the Meantime we will have an organized ring of scammers ( Karpelles, cryptorush, mintpal.. etc etc .. ) that will make us even richer.
We will also have another organized ring of scammers/devs that will create new coins so we can pump and dump the hell out of them to make even more and more money.
Once this shit gets regulated we will just leave with more billions and see ya"

Yepp. That's how bitcoi works. Many people nowadays are using bitcoin and the numbers of users are continuously growing. We don't know how actually or what will be the value of bitcoin minutes by minutes. Bitcoin dump and pump depens on the demand of buying and selling of bitcoin. You don't need to worry because that's how it works and many people are actually aware of that.

Pumps and dumps are of two different types. There would be just a theatre of prices going up and then down and up and down causing just losses. But it may be a reason of some buying and selling at same time giving much profits.

So like you said here, bitcoins are matter of pump and dumps but for selling and buying and producing such fantastic profits.

[Hishand]

I think that this is just how the engineering will expand. Its still rather new and uncontrolled or controlled. If you search at how numerous policies and laws are on fiat to prevent all items that are presently taking place to bitcoin. Its just a issue of time before bitcoin has the same regulation to reduce these issues from going on.

[drachman]

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.

Satoshi had bigger plans than making bitcoin just another settlement service, bitcoin is a currency, no other currency in the world has the characteristics of bitcoin and they are going to be replaced by bitcoin, not today or anytime soon but eventually they will be replaced.

[tittensor]

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.

I agree to this. Basically no one can actually tell if Bitcoin will go up and down. But just like stock prices or even in forex. It is possible that the price will stay stable or even go up. Yes it may go down in some time but it will not drop price as be a dump.

Go down and dump are difference, a dump price on the market is a flash crash price of the asset you are trading. It happen very fast and 100%, it will recover after the dump be end (in a short time). But go down = bearish trend, it is mean this asset will drop down in a long time till the end of this trend, usually it is not end soon as the dump.

[brascopck]

nope, when something bad/good happen on bitcoin it will affect the bitcoin price.

[faceoff97]

Bitcoin is bitcoin because of sudden pumping and dumping. Its volatility feature is the reason why many are so into it, the hope for sudden pumping motivates someone to store fund in it. The same way, changes in value is also dependent to the demand of bitcoin. This is what bitcoin is, it is dependent in people and people is dependent on it. Aside from dumping amd pumping, bitcoin is uniquely different simply bevause the technology behind it is incomparable and cannot be cloned.

[Maren]

The volatility that freaks out people with experience in old school finance is a feature of the blockchain. There is no asset as liquid as Bitcoin in the world at the moment. You can buy more or get rid of huge quantities insanely fast compared to classic commodities.

If you're asking about it's inherent value there isn't any, but if it was a pump and dump it would be dumped 5 years ago already. Unless our reptilian overlords play the long game, of course.

[djablom]

The price of bitcoin is still at $4k i don't think that even if bitcoin will stay at this price it would be a dump becuase it is a very high price and i think bitcoin will get another pump but not as high as it got earlier i would say it will go 2 to 3 times the price it is right now.

[alfs75]

This is an open discussion, so your thoughts more than welcome.

Here is what i think that happened:

"A few people with a lot of money, a few brilliant ideas and the will to fuck everyone up in order to make loads more money came up with a great idea: let's create digital money, some bullshit about fighting banks, some japanese guy that doesn't really exist, silkroad for a bit.
Let's give this Bitcoin thing value by pumping the hell out of it, and let it drop on  a bunch of unwanted childs that dream of getting rich with this shit.
In the Meantime we will have an organized ring of scammers ( Karpelles, cryptorush, mintpal.. etc etc .. ) that will make us even richer.
We will also have another organized ring of scammers/devs that will create new coins so we can pump and dump the hell out of them to make even more and more money.
Once this shit gets regulated we will just leave with more billions and see ya"

Thats the nature of the investment not all times its always pump up,and not all times always dump,even in other business there are times of up and down.bitcoin also have some struggle in blackchain and thats a marketing strategy.when you see the pareto chart of bitcoin price it will rise to $4000 to $5000 because of its demand,and when times other country like china band the bitcoin the price will go down.Thats the reality of crypto currency in the market pump and down.

[HasHe]

There might have been a thought that bitcoin is just a pump and dump in the early 2014 when OP posted this thread.But it isn't true.Altcoins might be termed as pump and dump coins as nowadays most scam coins are released which deliver nothing.They are just pumped and dumped to fill pockets of either devs or big whales.

But bitcoin exhibits its true value.Earlier,when china had an upper hand,its price was manipulated by dumping bitcoins.But now,since it has investors world wide,its not possible to do so.Bitcoin price is driven by the community support.Bitcoin price has constantly increased due to the growing trust of people over it.

Bitcoin is the best innovative currency of this century and its ultimate goal is to provide the financial freedom for people,becoming the worst nightmare for bankers.

[Sled]

There might have been a thought that bitcoin is just a pump and dump in the early 2014 when OP posted this thread.But it isn't true.Altcoins might be termed as pump and dump coins as nowadays most scam coins are released which deliver nothing.They are just pumped and dumped to fill pockets of either devs or big whales.

But bitcoin exhibits its true value.Earlier,when china had an upper hand,its price was manipulated by dumping bitcoins.But now,since it has investors world wide,its not possible to do so.Bitcoin price is driven by the community support.Bitcoin price has constantly increased due to the growing trust of people over it.

Bitcoin is the best innovative currency of this century and its ultimate goal is to provide the financial freedom for people,becoming the worst nightmare for bankers.

We need to accept that bitcoin is a real pump and dump cryptocurrency because you can see that the price in the chart of bitcoin is going down and up and that is acceptable because it is only depending on the demand of the people in the market who buys and sell bitcoin so there is nothing big deal in that thing. We can just accept the fact and play with it to make more money.

[Pleione527]

I guess bitcoin is not intended to have that kind of value I mean pumping and dropping its just that its value cannot be determine at thia point in time and since it is not yet stable in the market we experience sudden increase or decrease in price depending on tge demabd bitcoin gets.

[Potato Chips]

I guess bitcoin is not intended to have that kind of value I mean pumping and dropping its just that its value cannot be determine at thia point in time and since it is not yet stable in the market we experience sudden increase or decrease in price depending on tge demabd bitcoin gets.

I highly doubt that bitcoin will be stable as it is already wild in nature so we just have to get used to its frequent pump and dumps although to be honest the wild nature of its price is not bad in fact many people are earning bucks because of it. thats right its value cannot be determine because of this nature but isn't it the same with everything in the near future, besides we can always speculate and take risks to profit from it

[Gameflip ICO]

It's pump & dump but you need big money to manipulate so it doesn't get as much manipulation as other coins which are cheaper. In other words BTC is the safest coin you can invest in.

I agree with you that BTC is the safest coin  but in terms of Bitcoin dumps or pumps are not regular things as with altcoins. I suppose it is just regular correction as it always happens. When buyers are out of money, sellers come in.

[lordquanta]

It's pump & dump but you need big money to manipulate so it doesn't get as much manipulation as other coins which are cheaper. In other words BTC is the safest coin you can invest in.

I agree with you that BTC is the safest coin  but in terms of Bitcoin dumps or pumps are not regular things as with altcoins. I suppose it is just regular correction as it always happens. When buyers are out of money, sellers come in.

Pumping and dumping are the part and parcel of the crypto, stock, commodity, real estate market. That is any speculative market is prone to the pump and dump activity. Important part is pump  and dump are observed in frequently with other crypto compared to the bitcoin. Reason being manipulating bitcoin market requires much more capital compared to the other crypto. Just looks at the currency price of bitcoin which is at 45oo dollars and next top crypto is valued at 307 dollars. Now it is easy to understand why pump and dump are easy in other coins compared to other. Recent phenomenon observed in bitcoin was when JP morgan chief warned about the bitcoin. Prices were plunged to the 33k dollars. Later it was observed that same company bought many coins at that low price. This is reverse pump and dump. Smart, isn't it.
Correction is something which always happens after the unusual rise.

[ramsdaj28]

I'll ask you: Why do people (or you) buy bitcoins? IS it only for display? Most people buy bitcoins so that they can use it just like the local money - to buy things, to pay bills, to send money to other people, etc. more convenient, faster, and easier. Bitcoin is not a pump and dump. The price of bitcoin actually depends on the number of circulating supply and how people trade and regulate these. Dumping bitcoins doesn't actually work if all people do this thing. Once all people dump their bitcoin to the extent that no one is selling or buying, then there will be a significant drop in bitcoin price.

[FUD Expert]

No but it becomes a part of it. We need to remember that there's a lot of organized groups who can manipulate the price of btc by trolloing, spreading FUD and etc. Bitcoin is an amazing technology and not just a pump and dump.