Post
Topic
Board Speculation (Altcoins)
Re: IOTA is the next big thing
by
szesch
on 13/11/2017, 20:28:19 UTC
I really like the project and the idea.
But recent pump and dumps really worry me.

During the past week market cap increased by almost 800M and then dropped by almost 200M within a very short time. https://coinmarketcap.com/currencies/iota/#charts
This has nothing to do with growing interest or recent news. Just some whales throwing around millions of $.

You might ask, what's the problem with that?
Well, whales do this to generate some percentages of profit. Who pays those profits? Small investors who bought high, because they follow the hype or maybe really like the coin.
If whales dump their coins and rate plummets, small investors sell in panic or due to stop-loss-orders. Not to mention they lose their trust in the project and never buy back.
Whales don't make a coin strong, community does!
Therefore we need a broader adoption, which we will never reach with such a high volatility.

Before you say I'm a whale too, it's not really true, as I have a very diversified portfolio and I never pump & dump.