I have decided that Ripple random shitcoin is an attack on Bitcoin the same as Bcash other random shitcoin. They are trying to scare holders into selling by wash trading a Flippening. Dont fall for it.
FTFY. They've been trying this lame 'flippening scare' tactic for over a year now, because they are all fresh out of other shitactics.
Pumping random garbage will never work. The Bitcoin community has matured and can see through the bullshit.
Wallstreet desperately needs more bitcoin supply to play their con games with the public, and there just isn't much available. So they are desperate to get existing holders to part with their bitcoin. They want them to make rookie trading mistakes, divest into a myriad of shitcoins, or just get frustrated and sell... whatever they can do to shake people out. It doesn't appear to be working.
This is also my belief. There is a very low quantity of circulating Bitcoin. If you can create FOMO and generate an order book full of buyers wanting your crapcoin, you then wait for the right moment then dump en-masse generating a large quantity of Bitcoin for yourself and a large number of successful traders. I notice that the more reputable alts are not pumping as hard as the blatant scams.