Was Bitcoin actually just a Pump and Dump?

[LFC_Bitcoin]

Not what I want to think about when I've spent over 5000 GBP on BTC & judging by the current price I'm at a massive loss.

Sorry to hear that, looks like you are on a long run now if you are planning to hold them.

Yep, long term hoarding mate.
That's my plan.

In it for the long game.

[RodeoX]

Real conspiracies do not have such elaborate plots that take years to execute using a large group of people. This whole thread is just ridiculous like the moon landing hoax theories.

Agreed. No one ever has any EVIDENCE. They just say things that sound good to the ideas from their own head. The grand conspiracy is always by an unnamed shadowy group that the grown-ups are supposed to disprove.
Frankly I don't mind. I have made sick money off of peoples fear and superstition. So if anyone wants to sell their coins cheap before the space reptiles reveal their evil plans, I'm game.

[LFC_Bitcoin]

I am starting to believe that your mom was a pump and dump.

 

[Neotox]

as far as I know , some people found Satochi's Bitcoin adresses (created on January 2009 (when bitcoin got created) & it still contain the bitcoins) . he certainly mined the first bitcoins

well i have seen many people claiming that satoshi has 1Million+ bitcoins in his wallet
when i checked the top 100 bitcoin wallets here on this site
http://bitcoinrichlist.com/top100
i found that none address has that much balance

so either this site script is wrong or satoshi didn't have 1M coins (may be already dumped them)

[bradleyb5155]

Real conspiracies do not have such elaborate plots that take years to execute using a large group of people. This whole thread is just ridiculous like the moon landing hoax theories.

couldn't disagree more plenty of so called 'conspiracies' take years to execute fully

[leex1528]

Hmm, what kind of tinfoil hat do you have on today?

[johnyj]

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"

Obviously you think that fiat currency is money, that's why all of these statements sounds quite old school

Actually fiat curreny is a pump and dump scheme, it is pumped by the government's so called credit, and dumped in market to exchange  every valuable products and services, when do you think that pump and dump scheme will collapse?  

[Jbanna]

I think mtgox artificially rose btc prices by adding some 0's here and there on the trading books thus creating fake volume.

Take a look at it---
Mtgox the day before the 3 month rally (October-December) to $1200
                      Price was $135

Mtgox the day it closed from insolvency
                      Price was $135


conspiracy? ....

[factor280]

If it was... well played Satoshi. Lol.

[Victoo]

If bitcoin was just a Pump and Dump coin it couldn't have survived many years.

It's a great concept and I hope at some point it would be acceptable by governments and other big organizations worldwide.

[achtung082]

Its a pump and dump every 2 weeks.

[segvec]

Noobs and beginners say things such as what you mentioned.
A pump and dump?...get real.

[californiaquail]

for what it's worth, the internet was global P&D until the 2000 bubble...
 Right now CryptoCC world isn't even close to that. but there is so much alts to invest in, so much businesses to get in touch with around the planet..
As a web developer from the age of 11, CryptoCCs truely are revolutionary.

For CC's get to that point we will need at least another global financial crisis, there will be pumps, there will be dumps, but ten years from now when that will happen, regardless that 300 floor..
Only a small fraction will still be sitting here and rewarded for those risks


Evangelize&Hold&Pray

[fulgurite]

currently, yeah, it is a pump and dump, because it is not accepted by all of us, and just circulated by certain amount people who know about it, but in the future when it is regulated, and gain popularity, it won't be like that, I'm sure about that.

[EternalWingsofGod]

If it was a pump and dump
Someone had to create the exchange and the merchants and all the work to get people to use it
In other words it was one heck of an elaborate scheme in order to make his payday (What differentiates that from working and building a company from scratch ^_^)

[smoothaces]

I think the people who call it pump and dump don't understand the idea behind bitcoin.
It is getting sold or traded for fiat not dumped.

[zetaray]

Bitcoin was created as an experiment to make a statement about the current fiat money system. The statement echoed, gathered many supporters around the world. Some started to mine it for its technical ingeniousity, others mined it for fun. Some had high hopes for bitcoin, but I do not think miners at the time could foresee the success bitcoin has now.

It wasn't designed to be pump and dump from day one, early hoarders made it that way, and now VC funds will continue that trend.

[bitcoinwien]

I had fun the last year with Bitcoin
I got in July and now Im out of this crap and ready for the next best thing

Bitcoin was cool but face it, all you can do with it is pay for the same crap as you would with Fiat( faster and maybe more anonymous)
but are getting tired of always having to buy and sell shit

for what so I can look at ly rolex and say im a good guy

seriusly fuck this shit

we should come up and create something that destroys the whole fucking currency bullshit
now that woul be something we all need

Lets free us from the Monetary system, fuck this crap,
Greed has destryed every civilisation so far sooner or later
just look back in History

I seriously had hopes that with bitcoin you can tell your bank to fuck off and so did i after i made my first 25k on Bitcoin but come on
Bitcoin is dead, the Banks are even more greeder and more eveil now since they found out Bitcoin couldnt stop them

My Point is if we want a currency that works we need to fucking stop creating a currency cause a currency wont last

We need a currency free society thats it

Amen

[Kakmakr]

Yea, let's spread more FUD to enable me to buy more cheap coins. ^Smile^

It's always nice to see people panic and run.  ^Laugh^

Just make it easier for the true bitcoiner to make more money.

[unusualfacts30]

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.