Was Bitcoin actually just a Pump and Dump?

[ninjaskip]

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

Could not agree more 

[1Referee]

Bitcoin is being used as pump and dump from time to time, same with stocks. Nothing wrong with that.

There are always traders with huge loads of fiat to initiate pumps, and once they think the time is right, they sell. Let it happen, and benefit from it.

Money moves mountains.

[ninjaskip]

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.

They started to manipulate the price with bots from an early stage, the money to manipulate it is there, and there is plenty.
I also understand that loads of people that hold Bitcoins will go around supporting the "idea" behind it, as they can only hope they will recover what they invested.

[ninjaskip]

Bitcoin is being used as pump and dump from time to time, same with stocks. Nothing wrong with that.

There are always traders with huge loads of fiat to initiate pumps, and once they think the time is right, they sell. Let it happen, and benefit from it.

Money moves mountains.

You got it right, and i think this is my point here, SAME WITH STOCKS.
And this is what killed BTC and crypto, that is being use as stocks and the original idea seems like a ponzi scheme now.

[Hiraga]

Pumps and dumps happen all the time in every market until it finds the proper range to stay in for longer term.

[tanaka]

Pumps and dumps happen all the time in every market until it finds the proper range to stay in for longer term.

Pump and dump scheme is illegal in wallstreet stockmarket right? Is it illegal in bitcoin too?

[devphp]

Pumps and dumps happen all the time in every market until it finds the proper range to stay in for longer term.

Pump and dump scheme is illegal in wallstreet stockmarket right? Is it illegal in bitcoin too?

Wallstreet stock market is not a free market. Why do you compare them?

[BitCoinNutJob]

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? ....

lol i take it you are joking.

But in seriousness that rally started from the even bigger drop off of the back of silk road closing.

[Poolie]

No, it's not a 'pump and dump', though maybe if satoshis coins all got dumped it would be?

Pumps and dumps happen all the time in every market until it finds the proper range to stay in for longer term.

Pump and dump scheme is illegal in wallstreet stockmarket right? Is it illegal in bitcoin too?

You can't really stop someone from dumping their coins.

[sandykho47]

That's impossible
Satoshi Nakamoto never touch his bitcoin

Does they wait for a long time, and i think it's extremely risky
But, the dump will happen if satoshi nakamoto / anyone who can access the wallet sold all bitcoin at same time

[Q7]

No. Typical pump and dump will usually be over in less than a year. Bitcoin has survived the test of time and we have seen the price rebounced couple of times. The buying interest is still there

[YouAreABetaProvider]

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.

Everything is literally a big pump and dump, life itself its. Now, was this an intended, scammy p and d? nope. Bitcoin was always a legit genuine project. People gave it an insane value out of nowhere, they decided it was 1K a coin, now it's crashing. Will people re-gain trust? We'll see. My opinion is yes, because people will start lossing trust in institutions.

[mullerdan]

I am not agree with you man, there is not any manipulation..

[ninjaskip]

I am not agree with you man, there is not any manipulation..

 

[Skoupi]

...someone asked back in october 2012... and then in october 2013... and yesterday... Some things just don't change in the bitcoin world 

[Etanllah]

regardless of worrying about the past and what might or might not have been shouldn't we focus more on the current and future status of Bitcoin? Even if that was the plan, that doesn't change where we stand with it right now. It's still worth $350, and it's still being adopted by more people and companies every day. Bitcoin still has a bright future and it's time to capitalize on it.

[LFC_Bitcoin]

I've pumped in over 5000 GBP.
Hopefully one day I can dump it all for 100,000 - 200,000 GBP

[visual111]

it may have been adopted by people as a medium for a pump and dump, but i don't believe it began as one

bitcoin is actually an innovative tech..it is valuable. what it should be valued at, i don't know.

[ninjaskip]

I've pumped in over 5000 GBP.
Hopefully one day I can dump it all for 100,000 - 200,000 GBP

This describes to the perfection what Bitcoin is all about ATM.

[strunzdumm]

Bitcoin is a farce. The "free market economy" in miniature. There is nothing new, it isnt "decentralized" or whatever you thought. It is nothing more then a big scam, initiated by some inteligent guyz, but let me explain this to you:

The mining pools are the governmental institutions, they create BTC out of nothing (federeal reserve). The exchangers are the banks, they trade with BTC like shares. That means there is no consideration for those who "believe" in Bitcoin, early birds do their profit, all the others have to pay the bill. If you guys would know what I know... All exchangers manipulate the prize (because there is no regulation), yea you hear right, they can write whatever they want on their website! Bitcoin has no value, exact as FIAT. Its only the people who believe it has! Exchanger make $$$ out of nothing because of high-speed trades between each other. At the end there is the blackmarket (silk road). And all is controlled by a very very little amount of people, but there have their fingers in..
You guys should stop supporting it.