Once the purview of pinstriped millionaires trading merger tips over steak dinners, it's now possible for anyone with a cellphone to cash out in hours instead of weeks.
What they have done is to make a new way to create a pump and dump scheme. It not a matter of whether some insider information is accurate, although there will be some to cash in on that insider information.
Insider information is something you need to keep quiet to capitalize on. The bigger picture is that it has created a venue for people to drum up as much hype as possible to create the pump. It has expanded things beyond just the markets and sports betting. Now you can do the same with a wide number of things. It doesn't really matter whether the information is accurate or not. You can throw some money and generate interest and then once the suckers start flocking into it, you can turn around and take advantage and then just pull out before people wise up.
As long as you have a sizable pot of money to start with and don't get greedy, it is a money making machine once you get things automated. Set it up to cash out when you get a 1% rise. Do that every day and you have a huge effective annual percentage rate.
The only risk is running out of people who are both greedy and stupid.
What they have done is to make a new way to create a pump and dump scheme. It not a matter of whether some insider information is accurate, although there will be some to cash in on that insider information.
Insider information is something you need to keep quiet to capitalize on. The bigger picture is that it has created a venue for people to drum up as much hype as possible to create the pump. It has expanded things beyond just the markets and sports betting. Now you can do the same with a wide number of things. It doesn't really matter whether the information is accurate or not. You can throw some money and generate interest and then once the suckers start flocking into it, you can turn around and take advantage and then just pull out before people wise up.
As long as you have a sizable pot of money to start with and don't get greedy, it is a money making machine once you get things automated. Set it up to cash out when you get a 1% rise. Do that every day and you have a huge effective annual percentage rate.
The only risk is running out of people who are both greedy and stupid.
The only risk is running out of people who are both greedy and stupid
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