Quote from: allahabadi on Today at 03:26:31 AM

Quote from: Coyster on August 12, 2020, 09:10:49 AM

Quote from: allahabadi on August 12, 2020, 08:51:25 AM

I'd be vary of such orgs coming into btc trading... Sorta defeats the purpose of it surviving as a currency and only as a trading mechanism; which is not what it should primarily be.

Wary you mean? The bitcoin network actually needs companies like MicroStrategy and even bigger ones to join the network, I don't see any cons in it, it appreciates adoption and encourages other establishments to also come in. Btc's purpose btw isn't to survive as a currency, and I don't think it matters at all what people or establishments do with btc when they buy it. That being said, if bitcoin is to serve as more of a currency like you said, more adoption is of course needed and that can only come with more of this kind of news.

Wary yes; fat fingers thumbo*

They ain't contributing to the network; I don't see them mining; just PnD. Declare that u r buying to pump it and then dum when u see sufficient pump. Adoption isn't PnD.

Pump and dump can still be part of adoption, and if the demands on bitcoin is greater than the selling pressure, then who gives any shits if some BIG wigs believe that they are getting ahead by selling all of their bitcoin when they end up getting left behind because they sell too much too early and then they have to FOMO buy back into BTC if they want to regain their position.

In other words, there is no clear answer that pump and dumpers are always negative on bitcoin's overall price dynamics, even in 2017, there were a whole lot of folks who speculated that BTC was only going within a $3k to $5k price arena, so a lot of folks dumped their bitcoin in that range or even before that range out of anticipation of front-running.. but then some of them may have ended up getting screwed out of their bitcoin because the BTC price went 4x to 6x higher than their highest of expectations and even the ones who might have wanted to sit out the volatility might not have even been able to get back in below $3k like they were hoping on the severe dip... so it is not always so clear that pumper/dumpers come out ahead in the long run if they don't play their cards right... and really nothing to say that this time is going to be any different with many folks selling too much too soon again.. even while nothing is guaranteed, either way.