Cryptocurrencies

[OngBonga]

Hmm, now I think of it, that's not really what seems to be happening. It's more like there's a bunch of coins, and every once in a while one of them gets a kick and starts going up. The rest just seem to sit there doing nothing. Seems more consistent with the market encouragement/manipulation theory actually.

With the low market cap coins, yes I think this is a factor. I suspect there are organised whales moving from coin to coin pumping them and then dumping and moving on to the next coin.

[Poopadoop]

With the low market cap coins, yes I think this is a factor. I suspect there are organised whales moving from coin to coin pumping them and then dumping and moving on to the next coin.

If they're doing that, they're making a profit right? How does that make them whales?

[OngBonga]

If they're doing that, they're making a profit right? How does that make them whales?

A whale to me is someone with massive amounts of coins. Imagine a huge fuck off whale eating a ton of krill in a single mouthful.

[Poopadoop]

As for the market manipulation theory, I didn't say it was illegal. You can question the morality of it, like you can also question the morality of playing poker with fish. But I doubt anyone doing either is losing much if any sleep over it.

As for bots, what one could do if they were running a racket is start an army of bots that would promote coin X at time y, then stop them when you think coin X has peaked. You're probably right that Elon doesn't need to do that because he already has a huge platform and a giant flock of sheep, but most people aren't Elon.