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Oh no doubt
After I posted that I tried looking for recent data. Most of what I found was from August. This one from October. South Korea makes a lot of sense. They've been developing markets and exchanges for a while now.
Hard to see how far this can go. US Futures markets are already getting cold feet. 30% up is pretty cool. 30% down and you need to start looking skyward when walking by tall buildings.
What we don't know here is what kind of Margin people are buying on overseas. Coinbase does allow margin trading here but I'm not active. Just received a payment from overseas that I never converted to cash. made a few trades on GADX between Ethereum and Bitcoin. But basically I'm just waiting for my Bitcoin cash dividend as I was there pre fork and just watching in the interim.
Japan Emerges as the World’s Foremost Hotbed of Bitcoin Trading
https://news.bitcoin.com/japan-emerges-as-major-hub-of-bitcoin-trading-market/
Japan has emerged as the largest market for bitcoin trading by volume. This represents a shift from the market dominance controlled by China as a result of the Chinese government blanket banning exchange platforms. Japan, along with South Korea to some extent, now represent major hubs of crypto-finance across the globe.
Also read: Two More Bitcoin Startups Reveal Hard Fork Contingency Plans
According to recent data on Cryptocompare, Japan controls 59.77% of the global trading volume. This is over double the bitcoin trading volume conducted in the United States. Currently, the US does 25.97% of bitcoin trading. Japan’s rapid ascent as a bitcoin trading hotbed comes as no surprise, though. The country was poised to adopt this role.
Japan Emerges as the World's Foremost Hotbed of Bitcoin Trading
From Cryptocompare’s charts
Reasons for Japan’s Growth
Crypto-Friendly Attitude
One of the primary reasons for Japan’s major appearance on the scene is because of its pro-cryptocurrency attitude. The country has been building its crypto-asset infrastructure for awhile, especially since its government has taken a positive stance on bitcoin. The country was one of the first to fully embrace digital currencies by making bitcoin a nationally legal currency last April.
Furthermore, the country just endorsed 11 different cryptocurrency exchanges, including the largest, Bitflyer. They licensed the exchanges with practical and understandable legal framework, making their operations painless and non-burdensome. News.Bitcoin.com covered the story when it broke:
Japan’s Financial Services Agency (FSA) announced they are endorsing 11 different cryptocurrency exchanges. This sets Japan on a path to becoming the headquarters for everything Bitcoin, especially since China recently crippled their crypto market by banning exchanges. This means Japan now represents one of the most cryptocurrency-friendly countries in Asia.
Bitcoin Mining and J-Coin
Japan Emerges as the World's Foremost Hotbed of Bitcoin Trading
Besides interest in bitcoin trading and speculating, Japanese businessmen have become infatuated with bitcoin mining. The financial industry has started eyeing bitcoin mining as a possible source of lucrative gains, but also as a way to further develop Japan’s bitcoin dominance. Both GMO and DMM.com — which own exchanges — said they were getting into the space, although they would search for bitcoin mining locations where electricity costs are lower.
Lastly, the Japanese government and banks have begun work on J-coin, a nationalized cryptocurrency that would sit alongside the Yen. An MIT article explained banks would use it to get extra customer information and create a streamlined, digitized financial system within Japan proper.
All of this cryptocurrency activity in Japan has made it a hot spot for deepening the market penetration of bitcoin trading. It has also made Japan along with South Korea undisputed leaders in forward-thinking bitcoin infrastructure development.
Japan and South Korea’s Effect on Bitcoin Price
This new dominant position Japan has found itself in has implications for the future of Bitcoin’s price. South Korea has likewise managed to metamorphose into a major bitcoin trading paradise. According to various news sources, the bitcoin price has managed to maintain its upward trajectory as a result of these markets.Japan Emerges as the World's Foremost Hotbed of Bitcoin Trading
Previously, the price was almost totally reliant on Chinese markets. Luckily, both Japan and South Korea were already poised to take the reigns as the new Asia bitcoin market presence. China used to control roughly 10 to 13 percent of global trades before being banned, one news source claimed.
Now it appears the overall price will be in the hands of these two Asian powerhouse markets for some time. This looks like good news, though, because both countries harbor optimistic and positive perspectives on bitcoin and other cryptocurrencies. The future is bright with the image of a large red sun.
What do you think about Japan’s bitcoin dominance? Do you see this a good sign for bitcoin trading? Let us know in the comments below.
Images via Shutterstock
Sterlin Lujan
Sterlin Lujan is a journalist, editor, speaker, anarchist, and essayist. He has been involved with cryptocurrency and Bitcoin since 2012. Sterlin is especially interested in the intersection of psychology and cryptography. He has written on behavioral economics in regards to innovative technology, and was one of the first to write about the emerging field of cryptopsychology on bitcoin.com.
thank you for clarifying.
Just below 17,000 now...
No, it is much more complex than that. It involves the percentage increase in value calculated by each set of shareholders.
And then once the acquisition is complete, much of the NOL's still go away under the 382 limitation. The amount of NOL's which are usable post-acquisition requires a calculation involving the value of the pre-sale corporation, the federal tax rate, and any asset gains and losses. It can be quite complicated but usually, the amount of NOL's available post-acquisition are a small fraction of what was on the acquired corporation's books pre-purchase.
But don't forget the most important consideration. The Historic Business requirement. In order to use any of the NOL's, the acquiring company must continue the historic business of the acquired company. You can't just buy a company with NOL's and take them to offset whatever gains you have - you have to buy the company for their business, not the NOL's, and continue to carry on that business to have any hope to use the NOL's. If the continuity of business standard is not me, the value of the NOL's is zero.
And as far as Section 382 "screws everything", I have a feeling most taxpayers in the US would disagree with you. The law was originally passed in the 1950's to close one big loophole being exploited by corporations and the wealthy to cheat Uncle Sam out of taxes owed.
Most of the increase the past two weeks is almost all from South Korea. This is going to end very badly.
What magnifies the Bitcoin phenomena
is this is a worldwide market. trades 24 hours per day. The US is often not the largest trading market. As volatile as bitcoin is, it can be more desireable to hold than say the Venezualan currency. Its a way to get cash out of China and North Korea. (yes, officially banned, but it's not impossible to circumvent. Easier than carrying a sack of cash across a border)
The past week, though is purely futures related. No other crypto has budged.
Of course it will end badly. Of course it is in a speculative frenzy. But it's not that hard to understand that the finite number of Bitcoins dwarfs the number of people with the ability to trade them. Couple that with the ease with which Bitcoin (and all crypto) crosses boarders--that's not an insignificant quality.
It does have value, the same way way other third world country's currency has value. But right now, that third world's currency is rumored to replace the USD as world currency. You know how Rumors and pennystocks go.....never going to happen. But everyone thinks they'll get rich and get off the train before it collapses. It will collapse. But it will still have SOME remaining value at some point
The difference here is that the Bitcoin mania is global, that's what's allowed this bubble to inflate so large. With transactions taking hours to process now I'm not sure what the crash is going to look like.
Definitely a bubble mania but unlike any other ever.
Is bitcoin the biggest House of cards ever ready to crumble
- Bad anaolgy with the whole Kevin Spacey thing
Problem is I cannot grasp the fundamentals behind it - I think it is a the tulip bulb craze of the 2000s
Hmmm. The Hunt brothers and silver come to mind...
Don't forget Alphabay and Hansa this year
I wonder, though who has jurisdiction on these seizures. They are usually offshore and Hansa itself was operated by the Dutch government for almost a full month as a honeypot.
Oh damn! I must have missed that part of the story.
Clearly they should have had more faith in bitcoin...
The US only seized 144k bitcoin from Silk Road and sold them for $48 million at auction in 2014-2015 ($334 each). Thanks Obama!
http://fortune.com/2017/10/02/bitcoin-sale-silk-road/
lol, yes. That turned out to be a law enforcement action that really paid off.
The U.S. government has a pretty nice stake as well. I think more than 400,000 bitcoin.
That's about $7.6 BILLION? They should sell. That's more than the annual budgets for 7 states.
and...you can also buy their Hemp cream
ha!
I know we are getting outside of the scope of fraud here
which is a pet peeve of mine, but this certainly falls under the DD heading. We can move it to the weekend if need be. But I know there are some here that do have this kind of knowledge.
For those that have experience with the construction of futures trading contracts from the ground up, trade contract #1, would an inventory of the underlying commodity be bought up for settlement? Or in the case of a cash settled product, as a hedge?
I'm thinking index products, the underlying securities tend to be bought (or are said to be bought) even though they are cash settled. Obviously Oil and gas get stored and delivered to Cushing and Henry Hub.
could any of recent Bitcoin buying be because of such inventory trades (Plus 10X that number all trying to trade ahead of those buys?)
since the announcement, the line has been smooth and up. No other crypto has done much of anything other than slightly bleed.
And for those that point to the underlying not really existiing, I liken it to an ETN. An index ETN isn't really anything other than a credit product that pays off in a bet on an index. An ETF being an ownership in the underlying product. The ETN simply a promise of the sponsor to pay.
thank you for clarifying. What is the benchmark for cutting it then; 50% buyout? and only then 4% AFR rate or whatever- this section 382 sure screws everything.
Not to mention William Corbett of Shemano Group and Bear Stearns chop shop days.
And while I'm at their ATM, I can buy their penny stock in their scam! Oh boy, one stop shopping!
The Winklevoss twins own a significant percentage of all bitcoin.
The U.S. government has a pretty nice stake as well. I think more than 400,000 bitcoin. I believe they confiscated them from the Silk Road perps.
ISGP ticker change to FQCC
From one scam to another?
https://www.accesswire.com/479336/Fuquan-Capital-Corporation-Purchases-International-Sustainability-Group-ISGP
https://fuquancapital.com/
I suppose I should have said "things that have importance to large numbers of people". That wouldn't include personal possessions. People always think their stuff is valuable simply because it's theirs. I've expertised paintings whose owners believed, or wanted to believe, they had a lost masterpiece. Every once in awhile, that happens, but it's rare. Nothing I ever had to break the bad news about was worth much of anything. Same goes for real estate; I gather from what I see on HGTV that many people want to believe their homes are worth more than they really are, even though there's plenty of information about the market available.
But that wasn't what I meant. When something is important to a lot of people in a certain place, there's a market for it. And that will sustain, and perhaps drive up, the price. That's what markets are about. The Dutch love flowers. They do a great deal of international business in cut flowers, delivering them all over the world daily. But ordinary people love them too; there are weekly flower markets everywhere, and everyone seems to buy a big bunch or two.
So perhaps they were particularly vulnerable to the tulip craze because of that.
Interesting, thanks.
In that case, Section 382's limits come into play. And one of them is that the historic business enterprise of the Corporation that generated the NOL's must be continued. In a reverse merger, the business of the private company becomes the business of the shell. It would be considered a reorganization and would nullify the old NOL's. So in that case, the old NOL's would not have any value.
As I said, the value of historic NOL's generated by penny stocks is almost always zero to any acquirer, which is why no failed penny stock is ever bought for the NOL's. They just can't be used.
What about in the case of a reverse merger, where a private company reverses into a public shell with NOL's? Could the new public entity benefit from the NOL's from the shell?
You can't purchase NOL's. They are not transferable, especially not from a corporation to a person.
The formula you are talking about under Section 382 applies to a takeover of a C Corporation by another corporation. Not a person. Although the formula is complex, 16% ownership would not cut it. It would have to essentially be a full takeover by another corporation and even then the applicability is extremely limited.
Section 382 was enacted to prevent the trading of NOL's among corporations. Since its enactment, it has made NOL's largely worthless. Otherwise, wouldn't every profitable corporation in America be buying up all the failed ones? The Googles, Apples and Microsofts would all be snapping up these failed pink sheet companies left and right for their NOL's. But they don't, because the law says they can't use the NOL's. They don't transfer. And what little of the old NOL's could be used by the new corporation is so limited it is largely worthless, anyway.
I know there are a lot of stock promoters out there that say a failed company's NOL's have value, and thus the stock has value, but it just isn't true.
I suggest a quick call to a qualified CPA will quickly answer your question. Assuming they don't die laughing.
$16,000 and Climbing: Bitcoin Price Achieves New All-Time High, is There a Limit?
Joseph Young on 07/12/2017
https://www.cryptocoinsnews.com/15238-bitcoin-price-achieves-new-all-time-high-is-there-a-limit/
about 4,700 Bitcoins, worth about $70m (£52m) at current prices, were lost.
That's soooo 7 hours ago.... $89.3 million now.
Oftentimes it is wrongly claimed
Bitcoin is an "anonymous" and untraceable currency. It no longer is as the article pointed out. It is analogous to a dollar bill being an anonymous currency. No one knows who "owns" the dollar bill, but it is obvious who spends that dollar bill. That's kind of how Bitcoin is evolving (though there are other truly anonymous crypto currencies for now)
Hackers Steal $70 Million in Bitcoin
Theft prompts shutdown of NiceHash, which markets itself as the largest cryptomining marketplace
By Steven Russolillo Updated Dec. 7, 2017 5:37 a.m. ET
https://www.wsj.com/articles/millions-may-be-missing-in-bitcoin-heist-1512625176
Nearly $70 million worth of bitcoin was stolen from a cryptocurrency-mining service called NiceHash following a security breach, causing the company to halt operations for at least 24 hours.
“Clearly, this is a matter of deep concern, and we are working hard to rectify the matter in the coming days,” NiceHash said in a statement on its Facebook page early Thursday Asia time.
Andrej P. Škraba, head of marketing at NiceHash, confirmed to The Wall Street Journal that approximately 4,700 bitcoin had been stolen from a bitcoin wallet, an online account that stores the digital currency. Bitcoin wallets, like other online bank accounts, have been targets of hackers in the past.
“It was a professional attack,” Mr. Škraba said. He declined to elaborate further, saying more information will be revealed at a later date.
The hack came as the price of bitcoin surged through $14,000 on Thursday for the first time, according to research site CoinDesk, continuing a rally that has shown few signs of abating. At a recent price of $14,790, those stolen bitcoin are worth more than $69 million.
“It’s a bad thing to happen, but I think it’s going to be forgotten about pretty quickly,” said Arthur Hayes, founder and chief executive of BitMEX, a bitcoin-derivatives exchange in Hong Kong, of the theft. “Everyone is still high-fiving each other with the price over $14,000,”
Bitcoin’s rise from around $1,000 at the start of the year—including a 40% jump in the past week alone—has attracted crowds of eager small-timer investors to what had originally been a curiosity for techies. The price crossed $13,000 on Wednesday, mere hours after breaching $12,000 for the first time and just a week after it first broke above $11,000.
Three exchanges in the U.S. are set to offer futures contracts on bitcoin, another step toward building a traditional market around the stateless digital currency.
NiceHash, which markets itself as the largest crypto-mining marketplace, said it is investigating the breach and cooperating with authorities as it seeks to restore the service “with the highest security measures at the earliest opportunity.”
NiceHash, based in Slovenia, matches people in need of computer-processing power to mine cryptocurrencies with people who have power to spare. Payment is made in bitcoin and other cryptocurrencies.
Should You Buy Bitcoin?
The price of the digital currency has soared, but experts say you should be wary.
“We are truly sorry for any inconvenience that this may have caused and are committing every resource towards solving this issue as soon as possible,” NiceHash said in its statement. The company also advised users to change their passwords.
Security has been an issue with bitcoin for years. One of the best-known cautionary tales is that of Mt. Gox, once the world’s largest bitcoin exchange. It collapsed and filed for bankruptcy protection after losing virtual currency valued at hundreds of millions of dollars in 2014.
The NiceHash hack represents a far-smaller portion of bitcoin’s overall market capitalization, Mr. Hayes notes.
“It just goes to show that bitcoin is a really valuable asset and when you have valuable assets, people are going to try to steal them,” said Mr. Hayes, who predicts bitcoin could hit $50,000 by the end of next year. “So it’s important to be prudent and protect it the best you can.”
Write to Steven Russolillo at steven.russolillo@wsj.com
https://www.wsj.com/articles/millions-may-be-missing-in-bitcoin-heist-1512625176
£52m in Bitcoin stolen after cryptocurrency exchange heist
Margi Murphy 7 DECEMBER 2017 • 10:44AM
http://www.telegraph.co.uk/technology/2017/12/07/52m-bitcoin-stolen-cryptocurrency-exchange-heist/
Hackers have plundered a digital currency exchange, stealing millions of pounds worth of customers’ Bitcoin.
NiceHash, a website which offers Bitcoin in exchange for customers' computing power so it can mine other cryptocurrencies, confirmed that it had suffered a security breach early this morning.
Head of marketing Andrej P. Škraba told Reuters that the hack was “a highly professional attack with sophisticated social engineering” and that about 4,700 Bitcoins, worth about $70m (£52m) at current prices, were lost.
He said the company was co-operating with local authorities but declined to give more information. "Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days," NiceHash said on Facebook.
The hack illustrates a major problem with Bitcoin - while the network itself is seen as almost unhackable, the exchanges that many people rely on to store their money are vulnerable.
"In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency."
It has urged customers to change their online passwords as a precaution.
A new digital wallet with 4,736 Bitcoin (or $70m) appeared shortly after the breach was reported. The mystery wallet, which several have speculated may be where the missing Bitcoin have been sent to, is visible online but its owner is anonymous.
Crypto-mining has become a popular way to invest in Bitcoin, allowing those who own Graphics Processing Units (GPUs) and can afford to share their computing power to add to the blockchain, also referred to as “mining”.
Some of NiceHash's customers complained of losing upwards of $2,000 stored on the exchange.
The heist is just the latest disaster among digital wallets. Just last month Parity, which is popular among startups who want to exchange their fundraising cash, froze $162m in cryptocurrency Ethereum, after a novice hacker deleted code necessary for accessing the funds.
Earlier this month UK cryptocurrency startup Electroneum, which raised $40m (£30m), was hit by a cyber attack that shut investors out of their accounts.
http://www.telegraph.co.uk/technology/2017/12/07/52m-bitcoin-stolen-cryptocurrency-exchange-heist/
Ethereum barely moved through all of this
I think a great trade here is to sell the bubbled bitcoin and roll SOME into Ethereum. Put some of that coin back into cash as there will be significant capital gains being reported by coinbase/GADX
The Winklevoss twins own a significant percentage of all bitcoin. They'll pretty much decide the crash when they start to sell.
$19,109
Hello would you be able to answer? if a potential buyer wishes to make a 16% purchase a public company's NOL's (now a C corp due to being revoked) to use on his tax return can he take it all in one year? what is this section 382; AFR rate of like 4% a year means he can only deduct 4% of purchased NOL in a given year??
Crazy high-flying DPW stock has some issues, including Milton Ault.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136714583
PURE TULIP INSANITY but I said that well under $1,000 and under $500
old news!
LOL
(( $16,900 as I pop between windows. ))
Bitcoin surges above $15,000 after climbing $2,000 in 12 hours
Jemima Kelly DECEMBER 7, 2017 / 2:24 PM / UPDATED 25 MINUTES AGO 3 MIN READ
Bitcoin surges above $15,000 after climbing $2,000 in 12 hours
Jemima Kelly DECEMBER 7, 2017 / 2:24 PM / UPDATED 25 MINUTES AGO 3 MIN READ
LONDON (Reuters) - Bitcoin rocketed above $15,000 for the first time on Thursday, after adding more than $2,000 to its price in fewer than 12 hours.
...
more
https://uk.reuters.com/article/uk-markets-bitcoin/bitcoin-surges-above-15000-after-climbing-2000-in-12-hours-idUKKBN1E11YT
Items important to one may have personal value, however, if it has zero value to 7+ Billion people is worthless.
I recall a friend came up to me with a painting painted by a women who was a counter server in a Lebanese restaurant that served less than $10 meals.
She told him it was worth $5,000 and was a gift. I told my friend it was worth zero if there is nobody willing to pay for it.
But I do agree with you, bitcoin and many items such as my friend's painting have no intrinsic value.
It was a post I saw somehow about a “buyback” going on. Which I knew without even looking was a load of crap...so I said as much...and backed it up with actual law and regs.
...and enough folks started to ...ahem...enjoy my “input” they felt a desire to engage.
I haven’t looked back since....as it just keeps getting more interesting and weird.
So what is your history with BVTK, seems like there a lot of believers over there? I was strictly watching the chart trends until they pissed me off, now I’m peeling that smelly onion.
The answer is simple
simple indeed
just go to your local Bitcoin ATM and trade for cash
https://www.sec.gov/Archives/edgar/data/1459482/000168316817003221/chineseinvest_8k-ex9901.htm
That's just it... who's going to give me 34 thousand dollars for 2 lines of computer code? Do I email it to them? Meet them in person with a best buy 4 gig usb drive?
Where does the cash come in?
uh, that etc. worries me.
I have no idea - Can you sell them for cash? If something cannot be sold then what is it really worth
If I have 2 bitcoins, who can I sell them to? My credit union?
Citibank? 7-11?
Seriously?
short bitcoin if you have balls and know how to do it. and uf yiu have money. I am essentially 0 for 3 on above
It seems that IHub/advfn are giving a perfect example of what I was trying to describe about bitcoin/cryptocurrency.
Last month or so, advfn either threw in with or created PlusOne cryptocurrency. And implied that they will take plusone coins for Ihub services and treats. So, Ihub/advfn create their own coin. Ihub doesn't use the original guys bitcoin for anything. So, what does that do for the 21 million bitcoin guy if no one is going to use his bitcoin? What value is it then? Is Amazon going to create its own cryptocurrency? See where I'm going with this?
Ihub will take their own bitcoin mined from their own program and other bitcoin needn't apply. Where is advfn really going with this?
Why go through this trouble if there isn't money to be made some how. Real money, as in greenbacks, not bitcoin they won't take unless it's their own mined coin.
This is all very weird.
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Feel free to build on the research already done by others or to present fresh new research.
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Another place to read some of nodummy's research:
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Great Forum for Litigation and Court Docket updates not posted on this board:
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SEC trading suspensions:
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Most recent SEC flings:
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Great Website for basic information about the laws surrounding penny stocks
http://www.securitieslawyer101.com
Stock Dilution Scam:
A share dilution scam happens when a company, typically traded in unregulated markets such as the OTC Bulletin Board and the Pink Sheets, repeatedly issues a massive amount of shares into the market for no reason, considerably devaluing share prices until they become almost worthless, causing huge losses to shareholders. Then, after share prices are at or near the minimum price a stock can trade and the share float has increased to an unsustainable level, those fraudulent companies tend to reverse split and continue repeating the same scheme.
Pump and Dump Schemes:
"Pump and dump" schemes, also known as "hype and dump manipulation," involve the touting of a company's stock (typically microcap companies) through false and misleading statements to the marketplace. After pumping the stock, fraudsters make huge profits by selling their cheap stock into the market.
Pump and dump schemes often occur on the Internet where it is common to see messages posted that urge readers to buy a stock quickly or to sell before the price goes down, or a telemarketer will call using the same sort of pitch. Often the promoters will claim to have "inside" information about an impending development or to use an "infallible" combination of economic and stock market data to pick stocks. In reality, they may be company insiders or paid promoters who stand to gain by selling their shares after the stock price is "pumped" up by the buying frenzy they create. Once these fraudsters "dump" their shares and stop hyping the stock, the price typically falls, and investors lose their money.
http://www.sec.gov/answers/pumpdump.htm
The key is understanding
The key is understanding that pink sheet stocks are not investments - 99% of them will lose value over the long run and never accomplish most of their forward looking pumping statements they put in press releases or on their websites. Never believe the hype - always be skeptical of everything you hear.
The people mostly making money with pink sheet stocks are promoters, front loading pumpers with big followings they can dump on, crooks, some of the flippers, and sometimes the very lucky.
Pumpers only tell you to buy stocks that they already own. Pumpers only tell you to hold stocks because they want to make sure you hold longer than them.
They make money by pumping the stock and getting other people to buy then dumping their shares on the followers.
If you really want to take the risk of trying to make money trading pink sheet companies then you have to understand how the game works and never ever hold long term - take profits when you can. Pump and Dumps dominate the IHUB forums.
Trading pink sheet stocks is a sick game full of lies and deceit where people take advantage of the inexperienced and naive stealing away their life savings for their own personal gains.
Very little respect or morals exist in stinky pinky land.
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