Re: Which Bitcoin Exchange do you use and why ?
not sure anymore since most exchanges are pump and dump now.
acting like mt.gox brothers and sisters.
acting like mt.gox brothers and sisters.
How does pump and dump go? Can you explain it?
1. Exchange owner buys bitcoin when the price is low.
2. Pump: Exchange bot gives an illusion to people that the asking price is high, so the rate goes up. (ref: The Willy Report)
3. Dump: Exchange owner dumps all his coins at higher price.
4. Profit.