Earlier this month, cryptointalk, which is one of the biggest cryptocurrency discussion groups, removed more than 915 coins off its site. The CEO of cryptointalk, Ako stark, explained the cause for the big termination by stating that “the fact that there were lots of coins that are not worth any money and many attempting to take advantage of the situation contributed to the enormous termination.” In order to fraudulently increase the value of the coins, they did this by giving false news and material that included deceptive information about them. According to him, “this is a major ‘no’ in our community,” he carried on. “We will not accept anybody who attempts to influence the values of worthless coins that offer no value to our investors under any circumstances,” the statement reads. In case you are not acquainted with the term “pumping and dumping,” it refers to a time-honored strategy that involves rapidly increasing the value of an item that is not worth anything, and then selling it in order to benefit from the rise in price. This practice is not only prohibited under the rules governing securities, but it is also widely used in the realm of blockchain technology, bitcoin, and digital assets. It is simple to see why the majority of people do not attempt to initiate the printing of new kinds of money on a daily basis when one considers the difficulties that are involved in the production of a tangible dollar note. However, the creation of a new digital currency is shockingly simple for anybody who has even the most fundamental knowledge of coding. Anyone could do it if they had access to the appropriate instructions and a computer that was of sufficient quality. Individuals have discovered methods to generate their own coins in response to the growing popularity of cryptocurrencies. Because of “initial coin offerings,” also known as icos, hundreds of alternative cryptocurrencies have been launched. Companies may now raise capital using this innovative method, which falls somewhere in the between of a crowdsourcing effort similar to that of Kickstarter and a corporation issuing its shares through an initial public offering (ipo). Advertising for cryptocurrencies has previously been prohibited on Facebook for grounds that are quite similar to these. As a result of the fact that a large number of advertisements for initial coin offerings were “often connected with misleading or deceptive advertising methods,” the platform was forced to remove them. Using cryptointalk, “we want individuals to continue to find and learn about new goods, services, and educational material without fear of frauds or trickery,” stated stark. “We want people to be able to take advantage of this opportunity.” In spite of this, there are a great number of businesses in existence that promote binary options, initial coin offerings (ICOs), and cryptocurrencies that are not presently functioning in a trustworthy manner. You may learn more by going to http://cryptotalk.com/ .
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