I expect this is going on a lot when there is so much money to be made. We see some coins suddenly rise 1000% and then disappear. Some people don't care whether there's real technology behind a cryptocurrency if they can cash in on such changes. I expect there is even less regulation than in more established markets
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I heard that too. There are large pump and dump groups. These people buy a big share of a coin, pump the price and then dump it.
People who buy on high prices are destroyed because the coin never recovers from the dump. I have done two mistakes in the last week of July. Synx and RNS coins. I bought at high prices. Sold one at loss. The other one is 7 times below the price I bought at.
I have no option other than waiting for it to recovery losses.
yeah, crypto technology is new, the process of monitoring, controlling and regulaating the coin are all still in process. This, and the fact that crpytos are in essence trying to form their own economy makes them pretty much non important to any government. The sole reason cryptos came was to ''remove the money from the hands of the greedy governments'' but in reality, we have made it more susceptible to manipulations from the dark side.
Governments will be interested in taxing any sort of business. They may have issues proving that it happened in their jurisdiction