Hello, community!
I would like to open a debate on pump & dump groups and their impact on the bitcoin market. I'll start off with questions, with my own opinion listed below, so we can get ti started: How do you guys see pump & dump groups in terms of impacts it had(has) on bitcoin? Do you think it is no big deal or it is actually harmful? How harmful it can be if your answer to the last question was latter?
In my opinion, pump & dump groups and the activity itself serves only the creator and close circle around him/her. So far, many people lost funds due to it and should be kept out of the industry. There are many other legitimate strategies around to be used instead of it (as to not spam with long text, few can be found here:
https://www.cryptocointrade.com/about-trading/crypto-trading-strategies/)
What are your opinions on this?
I think it depends entirely on our agility. If we fail for the first time, we should reconsider why we fail and in the later pumping phase, we should not make that mistake again. I've been involved in small pump and dump groups, and I've had three buys at peak prices. But now I've figured out what time to buy and I earned a lot of money after those failures.