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Comment by cb18 | Hacker News Reader

It's amusing how there has been a spate of these 'bitcoin is back' articles after this recent little(by bitcoin standards) pump and dump. Because the last time bitcoin was here apparently was the massive pump and dumps in 2013.

So the criteria for bitcoin being somewhere is people getting fleeced and losing their shirts all for the promise of 'magic internet money,' no scratch that, 'winning the crypto lottery,' duly noted.

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And another amusing little wrinkle to this is that this recent btc pump and dump appears to have been driven in large part by an actual admitted ponzi scheme with no pretensions of appearing otherwise.

https://duckduckgo.com/?q=bitcoin+mmm

https://letstalkbitcoin.com/blog/post/mmm-global-republic-of...

https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

https://en.wikipedia.org/wiki/Sergei_Mavrodi

Though you love using the extremely incendiary term "pump and dump" in your numerous comments, you obviously don't even understand it. Look up a definition.

A pump and dump is type of fraud that cannot, by definition, be "driven" by any true external factor, such as people buying bitcoins to invest in a pyramid scheme, as you've just suggested. Therefore your comment contradicts itself.

Though it's not impossible that the MMM ponzi affected the bitcoin price, your comments are mostly lazy mud-slinging and weakly-founded opinions dressed up as facts. That's better suited to reddit

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