As the supply diminished, they become difficult to catch, and villagers returned to their farms. The man announced that he would pay $20. The villagers renewed their efforts and caught 1,000 more monkeys.

The supply quickly diminished, but before they returned to their farms the man increased his offer to $40 each. Monkeys became so rare that it was difficult to even see a monkey let alone catch it. But they caught 500.

The man now announced that he would buy monkeys at $100 each! However, since he had to go to the city on some business his assistant would now buy for the man. The man departed.

Then the assistant told the villagers, “Look at all these monkeys the man has in that big cage. I will sell them to you at $50 each. When the man comes back you can sell the monkey’s back to him for $100.”

The villagers gathered up all their saving to buy the monkeys. The assistant took their money. They never saw either the man or his assistant again.

Which leads to an interesting thought: has someone figured out how to judge when an emerging crypto currency gains enough traction to start attracting sharks to the pond of early adopters?

Let me fix that for you:

> Do not gamble anything you are not prepared to lose.

There's so many people trying to pump these different coins that I can't see any efforts being too successful.

Sounds from the pastebin content that they weren't really managing to coordinate even a small group?

Ultimately, there are two kinds of people that these con artists make money off of, and both have this overconfidence that they can outsmart the market:

1. Collaborators: these are the people who think that they are in on Fontas or Wolong's plan, but aren't. Ultimately, some of these people will make money some of the time, but most will lose money.

2. Manic-or-panic day traders: these people fall prey to a these market manipulations because they are at the wrong place at the wrong time. If they're paying attention when the market spikes, they start buying high thinking it will rise further, and if they're paying attention when the market drops they sell low thinking it will fall further. It may actually be worse to be this kind of trader, because often the only person conning such people is themselves. Their emotional approach to investing causes them to fall prey to every market fluctuation, even ones that aren't caused by any manipulation.

The kicker here is that I believe most day-traders fall into that second group. A lot of them are still making money on cryptocurrencies simply because cryptocurrencies have been growing so rapidly, leading them to believe that their strategies have worked, but the vast majority would make more by simply investing their money and sitting on it. My theory is backed up by how people tend to invest on wall street, which has been well-researched at this point.

What I'm trying to say to anyone reading this is that if you're trading day-to-day, unless you have a very thoroughly proven mathematical model, you're likely in the second group. Don't let overconfidence and greed make you a mark. You aren't likely to outsmart the market. Besides, this market is doing pretty well anyway.

Ah, no, it's not legal. Regulators just don't care (yet) to enforce the rules.

With Dogecoin however, barely any exchanges, and most of the circulation from their insanely steep on-ramp is in the hands of a handful of people... gonna be a lot of milking going on there.

from the manifesto: "there are always trolls that add absolutely zero value to the community" -- you said it Wolong.

The best part is that people are going to essentially hand wallets over to him to manage this, in both BTC and DOGE.

He's not going to come out behind, no matter how it goes .

They may be hard to maintain, but they do spring up and may exert power while alive.

http://ftalphaville.ft.com/2014/01/24/1750472/why-its-tough-...

This relies on the large wall not being an attractive offer for someone who has the purchasing power to obliterate it, which is where it occasionally fails. Generally, if the market starts to move against it with any force, it's pulled or moved further back behind other orders.

Another way this can be used is by putting up a wall on the opposite side of your real order to drive demand - i.e. in the scenario above, you might be trying to buy at 220. If you put up a huge wall at 224, people will be more willing to fill your order at 220 than if the orderbook was much thinner.

It seems this is called spoofing in the financial world.