Quote from: MicroGuy on May 09, 2014, 04:19:11 AM

Quote from: BitcoinNewbie15 on May 08, 2014, 12:45:01 AM

Hi, I know that pumping and dumping is illegal, so how do i avoid it? If I buy a few coins and a few days later they rise up and then i sell them when they are up, is that considered pumping and dumping?

Day trading is risky and unpredictable.

I think the best strategy is to find a coin you believe in and hold for the long term as you work to advance the coin.

Yeah, that's my style too. There seem to be people who thrive as day traders, but I know I'm not one of them: when I try, I'm pretty ham-handed. So, I stick to what I'm comfortable with.

There's another reason too. Imagine a fellow who snapped up Bitcoin at Mt. Gox in 2010 (when they still allowed people to deposit with PayPal!), withdrew the BTC, lost interest, and then forgot all about Bitcoin. When 2013 came along and Bitcoin hit the headlines, the fellow suddenly gets his memory jogged and remembers that he bought some in 2010. Only, the coins he bought for between 10 cents and $1 are worth ~$1,000 each!

I submit that only a fellow like this, or a real true believer in Bitcoin, would have held on for that long. Everyone else would have been too tempted to cash in when Bitcoin hit $2, $5 or $10. A guaranteed double, triple or ten-bagger is just too seductive for anyone except the true believer - or someone who just plumb forgot that he had any.