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?
Just to start a good cycle this so called pump and dump groups is needed and no need to join it, you'll just catch up when the price comes at the right time. These groups need to work it up. But in terms of cooperation the ones that is only speculating tend to have more money than in either of those groups so be prepared. Their activities need to be published or spread out for people to find out their plans in the future but the problem is you can't do anything if you aren't involved so you need to join with a of course.