Best Altcoins to Soar as XRP Future Uncertain: Breakout or Dump?
XRP, the fourth biggest crypto in the world with a staggering $127B in market capitalization, has been the talk of the town over the past few months. Much of this chatter has been due to $XRP’s sluggish price action. The token climbed up by a whopping 46% in January this year but has since then lost around […]
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After an evening of perusing the internets a post on reddit stuck out to me. “Bitcoin is being manipulated like other alt-coins” . The writer, mitchr4, goes on to explain that he is or has been an alt-coin trader for a while and has seen certain pump-and-dump patters emerge in the alt-coin industry. mitchr4 goes on draw parallels between the recent price spikes and downturns in the bitcoin market and the pump-and-dump nature of altcoins. mitchr4 goes on to explain how the pump and dump scheme works in bitcoin….
Chosun, the largest and most popular online news publisher in South Korea has reported that law enforcement is about to begin investigations on altcoin pump-and-dump and bitcoin Ponzi schemes. The Bank of Korea will support local law enforcement and agencies with the investigation and will provide the necessary infrastructure and technology to search for scam bitcoin projects and programs. The joint investigation will also focus on the trading of altcoins that have no value, or are suspected of being a pump-and-dump scheme. "According to our sources, there are 676 altcoins, including....
Love them or hate them, there’s a lot of altcoins in the crypto-economy. In fact, in 2017 there are roughly more than 700 different kinds of cryptocurrency. All of them claim to offer something unique. However, many people believe there is nothing innovative about these altcoins due to how easy it is to create them, the sketchy developers behind many....
More information, and coins. This year has seen a new, if predictable, trend in altcoin development: nation-based digital currencies. There are at least eight coins currently circulating or in development, with more surely to follow. Here is the CoinDesk guide to the main players and their current status. Unlike the world's other altcoins, which seek to either improve on bitcoin technology or merely copy it as part of 'pump and dump' schemes, national cryptocurrencies claim higher purposes, such as establishing sovereignty or building patriotism - or at least using those emotional themes....
Like penny stocks traded on the NYSE or those on pink sheets, cryptocurrency is a prime target for pump and dump scams. For those with buying power, it's an easy way to get rich quick by inflating the price. For everyone else, nine out of ten times, you will lose. This is one of several reasons people are afraid to trust Bitcoin. For those of you who don't know how the pump and dump works, it's fairly straight forward. They are also illegal in the market, though federal agencies do not actively protect Bitcoin users. Pump and dump scams involve two groups of people. First there are the....