Re:Can Governments Stop Bitcoin?
by jqpabc123 on Tuesday February 23, 2021 @08:07AM
(#26236813)
Who knows how long it will take for people to realize that fraud is being openly conducted in the Bitcoin market.
Example: Famous wealthy entrepreneur loudly and publicly announces a large purchase of bitcoin. The price of bitcoin jumps 20% as a result. Famous wealthy entrepreneur sells bitcoin and realizes a 20% gain.
This is called a "pump and dump" scam and if done in any "regulated" market, famous wealthy entrepreneur would be in legal trouble.
Example: Famous wealthy entrepreneur loudly and publicly announces a large purchase of bitcoin. The price of bitcoin jumps 20% as a result. Famous wealthy entrepreneur sells bitcoin and realizes a 20% gain.
This is called a "pump and dump" scam and if done in any "regulated" market, famous wealthy entrepreneur would be in legal trouble.