Winston
Lorenzo von Matterhorn
- Joined
- Jan 31, 2009
- Messages
- 9,560
- Reaction score
- 1,749
Gotta' get that speculative bubble frenzy goin' again via what is called "pump and dump"! Here's the "pump".
Bitcoin Tests $10k As Mysterious Crypto-Trader Dip-Buys $400 Million
16 Feb 2018
https://www.zerohedge.com/news/2018...mysterious-crypto-trader-dip-buys-400-million
How traders 'pump and dump' cryptocurrencies
14 Nov 2017
https://www.businessinsider.com/how-traders-pump-and-dump-cryptocurrencies-2017-11
Excerpt:
The group in question is the "PumpKing Community." It is one of many groups on the messaging app that appear to be dedicated to "pump and dumps" coordinated buying that artificially inflates the price of cryptocurrencies, in the hopes of attracting outside buyers to then "flip" the currency onto at a profit.
Cryptocurrency markets remain largely unregulated and so these schemes aren't technically illegal yet. However, the same schemes are illegal in the regulated markets that cover assets like stocks and bonds.
Bitcoin Tests $10k As Mysterious Crypto-Trader Dip-Buys $400 Million
16 Feb 2018
https://www.zerohedge.com/news/2018...mysterious-crypto-trader-dip-buys-400-million
How traders 'pump and dump' cryptocurrencies
14 Nov 2017
https://www.businessinsider.com/how-traders-pump-and-dump-cryptocurrencies-2017-11
Excerpt:
The group in question is the "PumpKing Community." It is one of many groups on the messaging app that appear to be dedicated to "pump and dumps" coordinated buying that artificially inflates the price of cryptocurrencies, in the hopes of attracting outside buyers to then "flip" the currency onto at a profit.
Cryptocurrency markets remain largely unregulated and so these schemes aren't technically illegal yet. However, the same schemes are illegal in the regulated markets that cover assets like stocks and bonds.