Yes, exactly. This is why I hate Polo for letting bots artificially inflate coin prices. But I guess that s industry too, Polo makes money on trade fees so they greet speculators with open arms. The rest of us can follow the wave as I do or gather Factom like hamsters and wait for the next pump.
If you dont like speculation then perhaps you should not buy any asset - crypto or another - and check the price every day, but just buy it and go away for at least a year.
speculation is what thrives the market. A really good speculator has a much more sober view at the true value of an asset than the average joe and is immune to hype, Fud or Fomo. Those are the guys that invest in Apple or Microsoft Shares when nobody else knows what a Home PC is. And FCT, as any other coin, profits from a 500% bubble -even if it deflates later on- much more than if it stays in the lows for months. We can be happy that we had a strong one and look forward to the next one. It shows the interest of the market. There is no linear growth.
I disagree big time. 99% of speculators couldn't care less about Factom or any other coin and its features. All they care about is buy low and sell high, regardless of whether they disrupt the market, create FUD, distort prices or even scare away half of the holders. They just care about one thing and one thing alone, MAKE MORE BTC. Not Factom but BTC. This means they will intentionally stage pumps and dumps to serve their own interests. This pumps and dumps usually end with noobs and new entrants in Factom market losing a lot of money due to artificial volatility created by these speculators. Once these new entrants lose money, they leave Factom market and never come back.
So how is this artificial volatility good for Factom or any other coin? Pls explain it to me, maybe I have missed something along the way. If we take BTC as an example, any serious financial portfolio manager will advice serious investors to stay away from these volatile markets cause they can lose everything in a day. So, until BTC becomes more stable, it ll never be considered as serious asset by the Wall Street and City guys. Why would it be any different with Factom?
There s big difference between growth induced by innovations and overall progress and speculation induced growth.