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RE: Why you shouldn't take tribe market caps seriously

in LeoFinance4 months ago

This all looks remarkably like something I'm actually old enough to remember: trading OTC "pink sheet" stocks. Same dynamic, 40 years ago. With a few thousand $$$ you could move the price of a stock from 2 cents to 50 cents and get a bunch of noob investors fired up over "XYZ Corp stock up 2500%! Buy now before you miss the boat!" So people would pile on and drive the price up further to $2.00 or even $5.00 and the SELLERS on the second wave up would be those who started the rally at 2 cents. I'm sure many made an absolute killing, selling absolutely worthless junk.

In truth, very few of the actual companies actually had a pot to piss in, and likely never ended up making a profit... OR a significant impact on their industries.

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I remember pinks sheets too. I got suckered into a penny stock to the tune of £1000 pounds and lost it all. Even worse, it was supposed to be a half and half deal with a friend but she never gave me the £500 she owed me. 😂

Funnily enough the narrative around the stock was similar to what's going on today with BTC in that it was an alternative energy stock. That was all very new then.

I had no clue what I was doing but trusted the person promoting it.

I was going to write . . . "Lesson learned" but I'd to think about that. 😂

Posted Using LeoFinance Beta

yeay basically its like penny stocks in the old days... just we have very good technology...

About LasseCash, yes the price can easily be manipulated, but if you dig deeper, then you see that most people only sell at higher prices, not when the price is low... and there are random buys at all kind-of prices...

I can move the price, and I often do that 20% per day... its a marketing tactic, the goal is that the tribe one day is so big that I cannot move the price anymore... still people are only selling at high prices its very clear to me.

Another positive is, that its hard to get LasseCash, since there are very limited sell orders... @themarkymark forget this in his endless negative posts about LasseCash ... its a very positive signal, there are whales who never sell LasseCash even after it went up 20x... he dont mention that.

It never went up 20x you just paid more when you bought everyone’s bag. Now that you are not willing to pay more like your recent video says where you are paying pennies, the price retarded. The price is solely based on how much you buy it back for, in other words an unregistered security.

Expect no profit of the work of others, boom not a security!