Originally Posted By: Mr Nice
Is Bitcoin the perfect 'Pump and Dump' scheme ?
All cryptocurrencies are. Stupidest thing I've ever seen in my 38 years of being alive. It's exactly the same as the dotcom era; the underlying technology, blockchain, is being usurped by scammers and fraudsters in an unregulated frenzy of pump and dump scams and ponzi schemes. Just wait until the SEC regulates ICOs as IPOs (which they are). The dust will settle and a few legitimate players in blockchain technology will emerge. The legitimate commercial banking sector is already starting to use the technology. It's fun trying to go after "the man", in this case, big banks, but I'll trust them with my money in federally insured and regulated institutions over some fraudulent nerds who haven't even finished college, to keep my money safe, thank you very much! The dollar itself will likely become a "cryptocurrency" (it practically already is, it's all digital mostly). Fedcoin. In fact, there is some mildy legitimate evidence that the Fed was behind bitcoin, in an attempt to get the blockchain implemented into the dollar/Federal Reserve system.
https://www.washingtonpost.com/opinions/...m=.bf45ab3f9dbb
Is Bitcoin the perfect 'Pump and Dump' scheme ?
All cryptocurrencies are. Stupidest thing I've ever seen in my 38 years of being alive. It's exactly the same as the dotcom era; the underlying technology, blockchain, is being usurped by scammers and fraudsters in an unregulated frenzy of pump and dump scams and ponzi schemes. Just wait until the SEC regulates ICOs as IPOs (which they are). The dust will settle and a few legitimate players in blockchain technology will emerge. The legitimate commercial banking sector is already starting to use the technology. It's fun trying to go after "the man", in this case, big banks, but I'll trust them with my money in federally insured and regulated institutions over some fraudulent nerds who haven't even finished college, to keep my money safe, thank you very much! The dollar itself will likely become a "cryptocurrency" (it practically already is, it's all digital mostly). Fedcoin. In fact, there is some mildy legitimate evidence that the Fed was behind bitcoin, in an attempt to get the blockchain implemented into the dollar/Federal Reserve system.
https://www.washingtonpost.com/opinions/...m=.bf45ab3f9dbb
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