8 ms·

"Two individuals" - one is John McAfee, and for pumping Dogecoin? "As is typical of pump-and-dump schemes, they secretly accumulated a position in a digital as

"Two individuals" - one is John McAfee, and for pumping Dogecoin? "As is typical of pump-and-dump schemes, they secretly accumulated a position in a digital asset through bitcoin trading in anticipation of price spikes following McAfee’s misleading public endorsements on social media." $2M is small fry - I wonder how much DOGE Elon Musk holds, and how his, or anyones behavior towards these speculative coins is any different.

glsdfgkjsklfj 6y ago
The difference with Elon and McAfee is that Elon (and the paypal mafia) have white collar crime in their DNA. Paypal growth held a 1:1 correlation with online prescription drug scam (or online prescription crime rings, depending who you ask). McAfee is the lowest amateur compared to those guys.
- kube-system 6y ago
  > Paypal growth held a 1:1 correlation with online prescription drug scam (or online prescription crime rings, depending who you ask). And they were both caused by an increase in.... people using the internet.
  - wpietri 6y ago
    I agree with your point. But Paypal was notorious for poor controls early on. I have to wonder how much VC money that officially went to Paypal actually ended up being seed money for online criminals of many stripes.
- Permit 6y ago
  > Paypal growth held a 1:1 correlation with online prescription drug scam (or online prescription crime rings, depending who you ask). This correlation is about as compelling as these ones: https://www.tylervigen.com/spurious-correlations https://www.tylervigen.com/spurious-correlations
  - glsdfgkjsklfj 6y ago
    except paypal being the payment choice and making lots of early concessions to work with those companies in their early days is a well documented fact. They would not have gotten off the ground in the early days without it. oh, and pirates and global warming the canonical reference for your point around here :)
tyingq 6y ago
"and for pumping Dogecoin?" I double-checked that it wasn't an Onion story. Who was plausibly pumped or dumped for a joke currency? Though, I guess with a market capitalization of $5,382,875,000 the joke was already out of hand.
- divbzero 6y ago
  Dogecoin must be priciest joke in history.
  - cwkoss 6y ago
    Maybe the priciest intentional joke
  - zamalek 6y ago
    Doge is more abundant than Bitcoin and is easier to mine, so it does have functional differences from Bitcoin. Some people may value those functional differences, so it isn't entirely a joke.
    - joshspankit 6y ago
      There were literally thousands of shitcoins at the time that can also be more abundant and easier to mine.
      - 1996 6y ago
        It's now widely trade and accepted, with many pairs and a low price. It's ideal to move funds, so it does serve a purpose now. Or at least, it did, as it's clearly being manipulated: check the price and notice how, despite the strong changes in BTC/USD prices, the DOGE/BTC has been extremely stable slightly above 1*10^-6 which is extremely abnormal, and indicates someone with deep pockets is keeping the psychological price (like BCH/BTC but for different reason: someone decided it would never go below 0.1!) This means the DOGE pump is just starting, as it is an often used trick to create positive attention: it ensures a matching performance for BTC/USD and DOGE/USD which is what influenceable people need to see to believe in a pump (a coin growing faster than BTC in USD terms will be seen in the 2nd phase of the pump)
walrus01 6y ago
I guess this means John McAfee won't be eating his own genitalia, as he promised? http://dickening.com/ http://dickening.com/
- warent 6y ago
  Am I a prude? idk why I've never found this kind of humor funny
lquist 6y ago
I don't believe Elon is selling
byset 6y ago
I wonder how much DOGE Elon Musk holds, and how his, or anyones behavior towards these speculative coins is any different. So you're speculating that the world's richest man (give or take) risked a felony conviction by running an illegal Dogecoin pump-and-dump scheme? Is that right? I'd wager that Musk's Doge-pumping buffoonery is more of a hobby than a revenue-generating side gig. If he ends up in federal prison, It'll be for cooking Tesla's books.
- fny 6y ago
  Second this. I don't think he owns any asset he promotes besides TSLA. The rest are clearly for the lulz.
- xtracto 6y ago
  Can someone do a crime even if they don't mean to? Like, maybe he did not want to take advantage of that but his actions resulted on him pumping DOGE. Something like the difference between involuntary manslaughter and murder?

glsdfgkjsklfj 6y ago

The difference with Elon and McAfee is that Elon (and the paypal mafia) have white collar crime in their DNA. Paypal growth held a 1:1 correlation with online prescription drug scam (or online prescription crime rings, depending who you ask). McAfee is the lowest amateur compared to those guys.

kube-system 6y ago
> Paypal growth held a 1:1 correlation with online prescription drug scam (or online prescription crime rings, depending who you ask). And they were both caused by an increase in.... people using the internet.
- wpietri 6y ago
  I agree with your point. But Paypal was notorious for poor controls early on. I have to wonder how much VC money that officially went to Paypal actually ended up being seed money for online criminals of many stripes.
Permit 6y ago
> Paypal growth held a 1:1 correlation with online prescription drug scam (or online prescription crime rings, depending who you ask). This correlation is about as compelling as these ones: https://www.tylervigen.com/spurious-correlations https://www.tylervigen.com/spurious-correlations
- glsdfgkjsklfj 6y ago
  except paypal being the payment choice and making lots of early concessions to work with those companies in their early days is a well documented fact. They would not have gotten off the ground in the early days without it. oh, and pirates and global warming the canonical reference for your point around here :)

tyingq 6y ago

"and for pumping Dogecoin?" I double-checked that it wasn't an Onion story. Who was plausibly pumped or dumped for a joke currency? Though, I guess with a market capitalization of $5,382,875,000 the joke was already out of hand.

divbzero 6y ago
Dogecoin must be priciest joke in history.
- cwkoss 6y ago
  Maybe the priciest intentional joke
- zamalek 6y ago
  Doge is more abundant than Bitcoin and is easier to mine, so it does have functional differences from Bitcoin. Some people may value those functional differences, so it isn't entirely a joke.
  - joshspankit 6y ago
    There were literally thousands of shitcoins at the time that can also be more abundant and easier to mine.
    - 1996 6y ago
      It's now widely trade and accepted, with many pairs and a low price. It's ideal to move funds, so it does serve a purpose now. Or at least, it did, as it's clearly being manipulated: check the price and notice how, despite the strong changes in BTC/USD prices, the DOGE/BTC has been extremely stable slightly above 1*10^-6 which is extremely abnormal, and indicates someone with deep pockets is keeping the psychological price (like BCH/BTC but for different reason: someone decided it would never go below 0.1!) This means the DOGE pump is just starting, as it is an often used trick to create positive attention: it ensures a matching performance for BTC/USD and DOGE/USD which is what influenceable people need to see to believe in a pump (a coin growing faster than BTC in USD terms will be seen in the 2nd phase of the pump)

walrus01 6y ago

I guess this means John McAfee won't be eating his own genitalia, as he promised? http://dickening.com/ http://dickening.com/

warent 6y ago
Am I a prude? idk why I've never found this kind of humor funny

lquist 6y ago

I don't believe Elon is selling

byset 6y ago

I wonder how much DOGE Elon Musk holds, and how his, or anyones behavior towards these speculative coins is any different. So you're speculating that the world's richest man (give or take) risked a felony conviction by running an illegal Dogecoin pump-and-dump scheme? Is that right? I'd wager that Musk's Doge-pumping buffoonery is more of a hobby than a revenue-generating side gig. If he ends up in federal prison, It'll be for cooking Tesla's books.

fny 6y ago
Second this. I don't think he owns any asset he promotes besides TSLA. The rest are clearly for the lulz.
xtracto 6y ago
Can someone do a crime even if they don't mean to? Like, maybe he did not want to take advantage of that but his actions resulted on him pumping DOGE. Something like the difference between involuntary manslaughter and murder?