Crypto currency

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  1. Looks like another factor is that the Grand Imam just declared yesterday that Bitcoin is Halal, meaning in accordance with Islamic scripture. Generally Islam frowns upon speculation r in non-backed assets, and several months ago 2 clergy were fired over dealings in Bitcoin. I don't know the reasoning behind the about-face, but the result is that a group of some 1.8 billion worldwide, some from some pretty wealthy countries, are getting into the crypto game.

    Also, 2 days ago VenRock (the Rockefellers' venture capital firm) announced that they were going to begin investing in blockchain tech and the companies working on it. Billionaire George Soros also hinted recently that he might be "getting into" cryptocurrency trading. Now obviously with what a statement like this can do to the markets, it's probably a good bet that he was neck deep in positions already before saying so. With big money like the Rockefellers and Soros in the pool the water is sure to heat up.

    There's actually a conspiracy theory going around that when the big players saw the potential of BTC and other coins in December, they manipulated the market so that it would crash and they could get in on the cheap, slowly enough that prices wouldn't rise until their positions were consolidated and the announcements were made. Given the anonymity of crypto we'll never know if this is the case, but it's not as far-fetched as saying we never landed on the moon etc.

  2. Anyone that thinks there isn't manipulation should really pay closer attention.

  3. Quote Originally Posted by kisaj View Post
    Anyone that thinks there isn't manipulation should really pay closer attention.
    Most things have some form of manipulation - I accept I’m far to small a fish to be in the top levels, my aim is to be the first of the masses

  4. I'm sure you all have heard of Spoofy by now. If not, read up. He (or they) are just one of many many investors running this market.

    Don't know if anyone saw the chart from yesterday but people shorting BTC yesterday got slaughtered. This has been floating all over reddit. On the BTC sub, people are reporting losses of amounts that would make me downright cry. Lol, hopefully they followed the #1 rule.

  5. The manipulation is brutal! Even on a per-coin level I've watched 3 pump & dumps in the three days I've been watching the markets closely. I lost 5% of my funds trying to catch the wave on one, only to find that it was about to hit the downslope. Rookie mistake I won't repeat!

  6. I have 4 Discord channels that I get notices for everyday for pump and dumps. I just can't bring myself to do one because I know people are getting ****ed.

  7. I don’t have enough time to play the pump and dumps lol

    I need to get back into my normal Crypto Discord though, it helped me stay on top of the news a lot better. I deleted the email I used though so will have to restart.


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