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Ad-blockers are the best way to stop the unwanted mining. uBlock Origin still has the best IMO but I also run Adblock Plus alongside it.
YOUR BROWSER COULD BE MINING CRYPTOCURRENCY FOR A STRANGER
AUTHOR: LILY HAY NEWMAN SECURITY 10.20.1707:00 AM
https://www.wired.com/story/cryptojacking-cryptocurrency-mining-browser/
THERE’S SOMETHING NEW to add to your fun mental list of invisible internet dangers. Joining classic favorites like adware and spyware comes a new, tricky threat called “cryptojacking,” which secretly uses your laptop or mobile device to mine cryptocurrency when you visit an infected site.
Malicious miners aren’t new in themselves, but cryptojacking has exploded in popularity over the past few weeks, because it offers a clever twist. Bad guys don’t need to sneak software onto your computer to get it going, which can be a resource-intensive attack. Instead, the latest technique uses Javascript to start working instantly when you load a compromised web page. There's no immediate way to tell that the page has a hidden mining component, and you may not even notice any impact on performance, but someone has hijacked your devices—and electric bill—for digital profit.
The idea for cryptojacking coalesced in mid-September, when a company called Coinhive debuted a script that could start mining the cryptocurrency Monero when a webpage loaded. The Pirate Bay torrenting site quickly incorporated it to raise funds, and within weeks Coinhive copycats started cropping up. Hackers have even found ways to inject the scripts into websites like Politifact.com and Showtime, unbeknownst to the proprietors, mining money for themselves off of another site’s traffic.
'There’s no opt-in option or opt-out. We’ve observed it putting a real strain on system resources.'
ADAM KUJAWA, MALWAREBYTES LABS
So far these types of attacks have been discovered in compromised sites' source code by users—including security researcher Troy Mursch—who notice their processor load spiking dramatically after navigating to cryptojacked pages. To protect yourself from cryptojacking, you can add sites you're worried about, or ones that you know practice in-browser mining, to your browser's ad blocking tool. There's also a Chrome extension called No Coin, created by developer Rafael Keramidas, that blocks Coinhive mining and is adding protection against other miners, too.
"We’ve seen malicious websites use embedded scripting to deliver malware, force ads, and force browsing to specific websites," says Karl Sigler, threat intelligence research manager at SpiderLabs, which does malware research for the scanner Trustwave. "We’ve also seen malware that focuses on either stealing cryptocurrency wallets or mining in the background. Combine the two together and you have a match made in hell."
What complicates the cryptojacking wave, experts argue, is that with the right protections in place it could actually be a constructive tool. Coinhive has always maintained that it intends its product as a new revenue stream for websites. Some sites already use a similar approach to raise funds for charitable causes like disaster relief. And observers particularly see in-browser miners as a potential supplement or alternative to digital ads, which notoriously have security issues of their own.
Early adopters like the Pirate Bay have made a pitch to their users that the technology is worth tolerating. "Do you want ads or do you want to give away a few of your CPU cycles every time you visit the site?" Pirate Bay asked its users in mid-September. Most commenters on the feedback request supported in-browser mining if it reduced ads, but one noted that if multiple sites adopt the technique, having multiple tabs open while browsing the web could eat up processing resources.
The concerns run deeper among audiences unaware that their devices are being used without their knowledge or consent. In fact, malware scanners have already begun blocking these mining programs, citing their intrusiveness and opacity. Coinhive, and the rash of alternatives that have cropped up, need to take good-faith steps, like incorporating hard-coded authentication protections and adding caps on how much user processing power they draw, before malware scanners will stop blocking them.
“Everything is kind of crazy right now because this just came out,” says Adam Kujawa, the director of Malwarebytes Labs, which does research for the scanning service Malwarebytes and started blocking Coinhive and other cryptojacking scripts this week. “But I actually think the whole concept of a script-based miner is a good idea. It could be a viable replacement for something like advertising revenue. But we’re blocking it now just because there’s no opt-in option or opt-out. We’ve observed it putting a real strain on system resources. The scripts could degrade hardware.”
To that end, Coinhive introduced a new version of its product this week, called AuthedMine, which would require user permission to turn their browser into a Monero-generator. "AuthedMine enforces an explicit opt-in from the end user to run the miner," Coinhive said in a statement on Monday. "We have gone through great lengths to ensure that our implementation of the opt-in cannot be circumvented and we pledge that it will stay this way. The AuthedMine miner will never start without the user's consent."
This course-correction is a positive step, but numerous cryptojacking scripts—including Coinhive's original—are already out there for hackers to use, and can't be recalled now. Experts also see other potential problems with the technique, even if the mining process is totally transparent. "An opt-in option...doesn’t eliminate the problems of potential instability introduced by this," Trustwave's Sigler says. "When dozens of machines get locked up at a company, or when important work is lost due to a mining glitch, this can have a serious effect on a organization’s network."
And with more malware scanners on the alert, hackers will start to evolve the technology to make it subtler and more difficult to find. As with other types of malware, attackers can bounce victims around to malicious websites using redirect tactics, or incorporate Javascript obfuscation techniques to keep scanners from finding their script-based miners.
Still, the positive potential of in-browser miners seems worth the complications to some. "I’m hoping that within a year we’ll see even more evolution of this technology to the point where it cannot be abused by website owners who want to trick people into running these miners," Malwarebytes' Kujawa says. "But if it's only associated with malicious activities, then it might take awhile for the technology to evolve to a place that’s more secure, and for anyone to trust using it."
Like so many web tools, cryptojacking has plenty of promise as an innovation—and plenty of people happy to exploit it.
https://www.wired.com/story/cryptojacking-cryptocurrency-mining-browser/
Although I don't frequent SemiAccurate, I have to wonder what other sites are running such a ploy? How the heck would someone know?
I suppose your computer would slow down noticeably?
Is Amazon going to invest in giant warehouses full of servers so people can buy potato chip makers and electric razors with bitcoin?
Or read 'food reviews"?? And using all that power isn't very eco-friendly.
What on earth would a "blockchain-based food review service" be? And why would we need one?
All these ICOs are going to be an enormous headache for the regulators. And a lot of the companies planning to do them are, unlike Munchee, already public.
I wasn't even thinking about this so it caught me by surprise as well. Check this out from 2013 and a top gaming company.
The article says that the company was considering inserting mining into their mandatory cheat software we all have to run to play their games. Were they going to tell anyone. Seemed to be a lot of backpedaling in the article. I played it back then and remember bad frame rates but always figured it was my crapping ISP and pipeline. Can't say for sure I was on at that time either. But the fact that a big gaming company, even back then was thinking of this, imagine who is doing it now.
https://www.wired.com/2013/05/esea/
Not only on your computer, but when you visit websites.
http://janecrypto.com/hackers-may-be-using-your-computer-to-make-bitcoin/
https://www.wsj.com/articles/hackers-latest-move-using-your-computer-to-mine-bitcoin-1509102002
older data-
https://www.ophtek.com/detect-bitcoin-malware-on-your-pc/
Been going on for some time now.
https://www.techworld.com/news/security/bitcoin-mining-function-embedded-inside-rogue-eulas-malwarebytes-warns-3491962/
Saw this elsewhere on a board that discusses semiconductor stocks:
I noticed that, this is starting to look more like tulips by the hour.
I think this is going to crash, the commodity will hang around a while at like under 40 bucks and will never become any realistic replacement for our currency any time soon, if ever.
Of course. CNBC is just a professionally broadcast produced wall street tout board.
lol..did Loz read my post too? This information has been out for years but the hucksters of course slide right over it. And I didn't even touch on energy use itself. Ol' Sato probably just wanted to use bitcoin for himself.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136777134
"The energy and storage to maintain bitcoin blockchain is staggering in it's enormousness. Bitcoin is unsustainable energy wise and companies are not going to invest and support the phenomenal server capacity to store every single transaction that cannot change. Not even the highest compression we have can make a dent in the needed capacity in the near future. And the very design that is blockchain does not lend itself to ecommerse or today's world wide accepted UPC systems. It's slow and there's nothing on the horizon visible that will alleviate this problem. Is Amazon going to invest in giant warehouses full of servers so people can buy potato chip makers and electric razors with bitcoin? I don't think so. It's not a paradigm shift like the hucksters are hawking."
First time in months I watched a full day of CNBC. Got the itch. LOL
That is CNBC's purpose. No different than a gambling tout's purpose is to encourage someone to bet on the game. Creating action, on either side, and the bookie profits.
short positions harder to execute - well at least for dolts like me in USA. My broker I use for this not allowing XBT transactions. and its a future and only one as best as I can see. I am likely just going to be a front row spectator
CNBC lots of chat on bitcoin. good arguments both sides. First time in months I watched a full day of CNBC. Got the itch. LOL
Watching cnbc with the bitcoin opening. Ceo of bitgo was on making hype bitcoin is going to revolutionize the world and that bit coin will be around forever, of course this is the ceo of bitgo probably with a giant vested interest in bitcoin itself.
Also, he was asked how they came to the number of 8 billion transactions and what kind of transactions made so far and he said something along the lines that some of the figures are predictive and what they think they've done, and danced around the what kind of transaction are they recording question.
Anyone on the show today who has vested interests in bitcoin hyped the hell out of it and any analysts who didn't appear to have vested interests in bitcoin all talked about a massive bubble about to burst. Even the ceo of bitgo made a comment he didn't think this bubble would last but he was confident he'd still be around when it settles down. I'n not sure if they asked him directly about a bubble or he brought it up on his own, either way it's telling. Also, seems a more percentage of sentiment is about how to short bitcoin.
I could of sworn that just a few weeks ago the press from the commodities groups starting bitcoin said they would be looking at very early 2018 to open, of course just a few weeks ago the price was less than half of today. Think they rushed the open because of the price?
most pinkies would not have the resources to even buy one bitcoin and certainly do not have the capital raising capabilities to get in to pot. Best thing pinkie may do is buy a bag of weed and wacth bitcoin trade
It's mid-December. Lots of desperate people will be making things up about tons of dead stocks for the next few weeks.
IFAN bagholders attempting to pump with a PR from April of last year that hints at a loose Bitcoin connection:
https://finance.yahoo.com/news/ifan-financial-inc-netclearance-systems-120000074.html
Hey, whatever works right?
Serial financial predators...these two no longer rely on fooling the naive and uninformed, but on luring experienced pinky traders into front load and run opportunities, then relentlessly unloading on them?
Company Halts ICO After SEC Raises Registration Concerns
FOR IMMEDIATE RELEASE
2017-227
Washington D.C., Dec. 11, 2017 —
A California-based company selling digital tokens to investors to raise capital for its blockchain-based food review service halted its initial coin offering (ICO) after being contacted by the Securities and Exchange Commission, and agreed to an order in which the Commission found that its conduct constituted unregistered securities offers and sales.
According to the SEC’s order, before any tokens were delivered to investors, Munchee Inc. refunded investor proceeds after the SEC intervened. Munchee was seeking $15 million in capital to improve an existing iPhone app centered on restaurant meal reviews and create an “ecosystem” in which Munchee and others would buy and sell goods and services using the tokens. The company communicated through its website, a white paper, and other means that it would use the proceeds to create the ecosystem, including eventually paying users in tokens for writing food reviews and selling both advertising to restaurants and “in-app” purchases to app users in exchange for tokens.
According to the order, in the course of the offering, the company and other promoters emphasized that investors could expect that efforts by the company and others would lead to an increase in value of the tokens. The company also emphasized it would take steps to create and support a secondary market for the tokens. Because of these and other company activities, investors would have had a reasonable belief that their investment in tokens could generate a return on their investment. As the SEC has said in the DAO Report of Investigation, a token can be a security based on the long-standing facts and circumstances test that includes assessing whether investors’ profits are to be derived from the managerial and entrepreneurial efforts of others.
“We will continue to scrutinize the market vigilantly for improper offerings that seek to sell securities to the general public without the required registration or exemption,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement Division. “In deciding not to impose a penalty, the Commission recognized that the company stopped the ICO quickly, immediately returned the proceeds before issuing tokens, and cooperated with the investigation.”
“Our primary focus remains investor protection and making sure that investors are being offered investment opportunities with all the information and disclosures required under the federal securities laws,” said Steven Peikin, Co-Director of the SEC’s Enforcement Division.
Munchee consented to the SEC’s cease-and-desist order without admitting or denying the findings.
The SEC’s new Cyber Unit is focused on misconduct involving distributed ledger technology and initial coin offerings, the spread of false information through electronic and social media, brokerage account takeovers, hacking to obtain nonpublic information, and threats to trading platforms. The SEC also has a Distributed Ledger Technology Working Group that focuses on various emerging applications of distributed ledger technology in the financial industry.
The SEC’s investigation was conducted by the Enforcement Division’s Cyber Unit and Complex Financial Instruments Unit, including Jeff Leasure, Brent Mitchell and James Murtha. The case was supervised by Robert Cohen, Reid Muoio, and Valerie A. Szczepanik.
The SEC’s Office of Investor Education and Advocacy issued an Investor Bulletin in July 2017 to make investors aware of the potential risks of participating in initial coin offerings.
https://www.sec.gov/news/press-release/2017-227
SEC Order:
https://www.sec.gov/litigation/admin/2017/33-10445.pdf
Scott sand and Gary Tilden
they've been trying to sell stock in a Real Estate development they own no land in. Pretty much putting out the Same PR every quarter. This tie they changed the PR a bit. ROTFL
They are perpetuall announcing a $2 mil "investment from an anonymus investor. Guy must have a lot of "trust" in them!
Holiday Island Holdings, Inc. Exploring Bitcoin Opportunities and Receives Verbal Agreement for $2M From Private Group
Print
December 11, 2017 10:17 ET | Source: Holiday Island Holdings, Inc.
HOLIDAY ISLAND, Ark., Dec. 11, 2017 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc. (OTCPink:HIHI) - A development stage company operating in the land development sector of the market – is exploring opportunities in the Bitcoin and Crypto sector. Holiday Island Holdings Inc. has officially received a verbal agreement from the private group in San Diego. Our legal team is working on the contract to be sign and make it official.
Holiday Island Holdings, Inc. will keep both its shareholders and public completely informed of the entire process as the details continue to develop. The Company’s main goals for 2017 and 2018 are to finalize a multi-million-dollar fund raise and become a dominant player in local commercial and residential markets at Holiday Island, Arkansas.
About Holiday Island Holdings, Inc. (OTCPink:HIHI):
Holiday Island Holdings, Inc. is operating its core business in land development in a continued effort to acquire and further develop income producing commercial and residential real estate located in Holiday Island, Arkansas. The company is in the process of further developing a town poised to become the largest community between Northwest Arkansas Metroplex and Branson, Missouri, and become a significant player in the local retail, commercial, and residential markets.
HIHI Contact:
Gene Thompson, CEO & Chairman
Phone: (479) 244-6047
Email: sgenethompson@gmail.com
Website: www.holidayislandholdings.com
Currency expert says there's one fundamental reason behind bitcoin's runaway rally
Valentin Marinov, head of G-10 FX research at Credit Agricole CIB, told CNBC on Monday that the "inherent imbalance between demand and supply" is the driving force behind bitcoin's soaring value
Bitcoin bulls have frequently referenced the cryptocurrency's scarcity value as a primary reason for its staying power
Billionaire investor Warren Buffet has previously urged traders to "stay away from it," calling the rally a "mirage"
Sam Meredith | @smeredith19
...
https://www.cnbc.com/2017/12/11/bitcoin-heres-the-reason-behind-its-soaring-value-credit-agricole-says.html
i may never pull the trigger on any sort of bear position on bitcoin or anything related LOL. Oh well I refunded my thinkorswim account. I may do very wlel just leaving the cash there
There’s no denying on many levels it seems absolutely absurd.
Bitcoin price surges as futures trading begins, despite bubble warnings – business live
Graeme Wearden Monday 11 December 2017 09.12 GMT
Bitcoin has made its hotly anticipated launch onto the futures market, but some analysts and central bankers are still urging caution
* Bitcoin futures trading has arrived...
* ...and the price has jumped.
* January futures price rises from $15,000 to over $18,000
* Circuit trading halted twice amid volatile trading
* New Zealand central banker: It still looks like a bubble
...
more
https://www.theguardian.com/business/live/2017/dec/11/bitcoin-price-futures-trading-begins-cryptocurrency-business-live
Bitcoin Energy Consumption Index
https://digiconomist.net/bitcoin-energy-consumption
Bitcoin uses more power than Serbia – the environmental cost of cryptocurrencies
Loz Blain 5 hours ago
https://newatlas.com/bitcoin-cryptocurrency-power-consumption/52556/
Bitcoin and other cryptocurrencies have promised a revolution in capital, but at what cost? The Bitcoin network alone is now burning a horrific 240 kilowatt-hours of electricity per transaction, using as much energy as the entire nation of Serbia, and heralding an environmental disaster.
The Bitcoin wave has surged so high in the last few months that it's become almost impossible to ignore. Prices have leapt from what seemed like a crazy US$30 per coin back in 2013 to heights few would have imagined – almost grazing $20,000 in the last couple of weeks and settling back around US$15,100 at the time of writing. Well, at the time of writing this paragraph; I'll check in again to see where it is when I'm finishing up.
It can be a wild ride, but this year's chart looks almost asymptotic; starting at around US$1,000 a coin, the rate of gain has jumped up month by month as more and more speculators have jumped on board. The new money has roughly doubled the coin's value in a month, and each time it hits a new ludicrous milestone, people further and further from the technology hear about it and pour fresh cash on top of the pile. And each time the value tanks – which it does semi-regularly, losing up to 40% of its value – the new money screams and flees while the old money chuckles and buys back in.
It's all very exciting. Millionaires and even billionaires are being made on the back of what's being described as either the biggest financial bubble in human history, or a replacement for gold as a store of wealth and a reserve currency. Few people see it as the transactional currency of the future, though, because it's now taking anywhere from 10 minutes to (on rare occasions) over 17 hours to confirm transactions.
And here's the problem: every single one of those transactions now requires a comically large computational effort. Bitcoin mining operations are now some of the most powerful supercomputing farms in existence. They aggregate staggering amounts of processing power, and run them flat stick, day and night, solving the incredibly complex computational math that keeps Bitcoin trustworthy.
The electricity usage rate is hideous. According to Digiconomist, each transaction is now estimated to use a ridiculous 240 kWh, which is enough to fully charge a Tesla P100D 2.4 times for an estimated range of 1,373 km (853 mi) or enough to power the average American home for eight days.
That's each transaction. And at the current rate of around 350,000 transactions per day, that means the Bitcoin network is currently using a touch more power than Serbia, and is fast catching up to Denmark. And as it becomes more popular, it's going to gobble even more power.
Where's that power coming from? Predominantly coal, estimates Digiconomist, although it's hard to tell as commercial-quantity Bitcoin mining is a fairly secretive game. But if estimates are correct, each transaction is putting about 117 kg (258 lb) of carbon dioxide into the atmosphere, and the Bitcoin network as a whole is responsible for almost 16,000 kilotons of carbon dioxide emissions annually, and growing.
That's just Bitcoin. Since the runaway success of the first big crypto party, a host of others have sprung up, each offering their own functionality and twist on the crypto theme and each adding further to what's starting to look like a rampant energy consumption issue. Rising star Ethereum, for example, which uses the power of blockchain technology not just to move and verify money, but to maintain and verify "smart contracts" between entities, is now burning 47 kWh per transaction. Then there's Dash, Ripple, Litecoin, and myriad other coins, either standalone crypto networks or built on top of other networks' core functionality.
And all this power consumption for what? Digital bookkeeping? Cryptocurrency has promised the world a future monetary system in which the value of capital can't be manipulated by any government, but if it's causing an entire decent-sized country's worth of power usage and belching kilotons of greenhouse gases into the atmosphere, you've got to start wondering when it starts becoming a net negative to humanity.
Oh, and let's check Bitcoin's price again... US$15,940, or about a 5.6 percent jump since I wrote that first paragraph. These are crazy times.
https://newatlas.com/bitcoin-cryptocurrency-power-consumption/52556/
Anything McAfee is involved in is questionable.
I’m merely getting warmed up to the issues at this point.
And looking for answers...
My initial skepticism always sets me up to believe a scam is a scam until proven otherwise.
Pennystocks jumping on board is making it difficult to see any legitimacy in any of this at this point. Along with sites of BITCOINIRA’s and overstock Patrick Byrne and John Mcafee singing praises.
It all seems so damn WRONG.
Ok, now you officially jumped in the decentralization party.
What do you think? I mean this with all due respect.
The site you posted is more predatory than helpful by the way.
Just looking at articles now from 2014:
https://www.forbes.com/sites/kashmirhill/2014/03/26/warren-buffett-says-bitcoin-is-a-mirage-why-marc-andreessen-thinks-hes-wrong/#364f081d7f3c
I am wondering about something though - part of my reasons for not selling my dot com investments at the height was because I didn’t want to pay almost half in taxes. 20/20 hindsight I should have paid the taxes!
If one has virtual currency does that same problem exist?? How difficult to keep track of all this?
There are tax experts now dealing with bitcoins?
https://www.bitcoin.tax
He publicly hated the idea in 2014. Honesty wouldn’t expect any different. He is to the financial world what my wife is to me.
The voice of reason. Lol.
That would be interesting to know...
I wonder what Warren Buffett thinks of all the bitcoin stuff?
Remember the beating he took for refusing to believe in the dot com craze?
Well he got the last laugh on that one! Wish I had listened to him as I wouldn’t still have massive capital losses from those days!!!
LOLOL!! Even if we were younger, we still wouldn't be any good at math.
Like you, I will never have any practical understanding of any of it.
Nor will most people, and in a way, that's the danger.
Lol! As I read it it reminded me of why I hate and suck at math!!!
I am far from understanding what the heck half this algorithmic stuff is all about!
I still freak over using my airline ticket on a digital wallet! What if my phone goes dead!!
It’s gotta be an age thing!
Aaaaaarrrggh. I know I should read it, but perhaps not tonight...
Blockchain Technology
The latest greatest catch phrase everyone is using.
http://www.zdnet.com/article/executives-guide-to-blockchain/
Interesting. Didn’t know that. Thanks!
LOL!! In the commercial, they don't explain exactly how it works.
Evidently DTCC is using it...
http://www.dtcc.com/blockchain
But not for tomatoes.
I’m sure it will be done or being done from the goodness of their hearts.
These companies are looking into the technology for the same reasons it’s being being used for.
Decentralization.
But, I’ll bite and go ahead and believe the tomato story.
Anyone talk with this Satoshi recently? Does he really exist?
lol, I think so. But no one's ever convincingly identified him.
Trying to separate the two will be damn near impossible. Something must be the underlying value and Bitcoin is already there.
Well, in its commercials, IBM says it uses blockchain to track tomatoes. So...
About a dozen pink sheet issues with a blockchain/bitcoin have gone parabolic in the past couple weeks.
Not a criticism of you--you're just picking up on the jargon--but WHY do stock people--especially penny stock people--constantly refer to the possibility of their favorites "going parabolic"? After all...
In mathematics, a parabola is a plane curve, which is mirror-symmetrical...
Put another way, what goes up comes down. Reminds me of the annoying "meteoric rise". Meteors don't rise. They fall. At least once they're within our atmosphere.
Good post Kitt.
DD Support Board and Fraud Research Forum
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This is not a forum for recommending stocks to buy or sell. It is for information sharing only.
Please do not use this forum to promote stocks.
Feel free to build on the research already done by others or to present fresh new research.
Please start all informational posts with the ticker symbol of the stock.
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Another place to read some of nodummy's research:
http://promotionstocksecrets.com/
Great Forum for Litigation and Court Docket updates not posted on this board:
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SEC trading suspensions:
http://www.sec.gov/litigation/suspensions.shtml
SEC press releases:
http://www.sec.gov/news/press.shtml
SEC administration proceedings:
http://www.sec.gov/litigation/admin.shtml
SEC litigation releases:
http://www.sec.gov/litigation/litreleases.shtml
Most recent SEC flings:
http://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=&type=&owner=exclude&count=40&action=getcurrent
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.
The Consequences of an SEC Suspension:
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https://investorshub.advfn.com/boards/read_msg.aspx?message_id=155531213
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