Your opinion matters. My opinion also matters but in reality nobody is really interested in hearing how I think about things. However, people are interested in what Alan thinks! He had an interview with a local TV-channel. Alan was very observant and touched base on the subject of using technology in class. Something he is in favor of.
Step 1: Acquire an asset for yourself.
Step 2: Make the asset attractive to others.
Step 3: Wait for others to buy in, and the value goes up.
Step 4: Sell your holdings.
Step 5: Profit for you, losses for others.
It is unethical and illegal to make money through Pump and Dump schemes, but this does not stop the rich and famous from doing it. The world’s richest man has done it at least twice. He mentioned that ‘Dogecoins’ were a great investment, then sold his holdings a couple of weeks later. He also announced that Tesla would accept Bitcoin for car payments, causing the value to surge. He then sold his own coins and canceled the acceptance of crypto for payments. A lot of profit was gained by Musk, while the losses were borne by others.
Tips for Identifying Schemes:
– Be cautious of sudden, unexplained price increases. (Like now)
– Verify information from multiple reliable sources.
– Avoid investments that seem too good to be true. (Like now)
Musk seems to favor the ‘Pump and Dump’ approach because, with a large enough following, it is easy money. A lot of money. His now friend Trump has one defining characteristic: for Trump, money is the most important thing. Money is the only thing that matters. Together, they could be preparing the biggest pump and dump the world has ever seen. The richest person in the world, with the most powerful person. Together, they are now pumping crypto a lot. The value is going up like a SpaceX rocket. The question now is simple: when is the dump coming, and how much damage will it do?