Imagine penny stocks, but even with higher capacity and less control.
This is crypto. Not all crypto, calm down.
With at least one penny stock, there is a dollar limit on all the pumping and how many things you can cover before a crime occurs. Each cryptocurrency has a “value” of billions of dollars
Cryptocurrency Lightcoin has dropped 20% of profits and is back in the world after a fake press release sent by Globe Newswire mentioning a partnership with Walmart.
Walmart spokesman Randy Hargrove confirmed that the press release was not true. He added that the retailer had contacted a newswear company owned by the telecommunications company Intrado to look into how the false press release was posted.
Several media outlets, including CNBC, have posted headlines about the announcement. There was little movement on Walmart’s shares. Litcoin last traded down 3% according to the coin metrics.
The Securities and Exchange Commission did not immediately respond to a request for comment on whether it would investigate the cause of the fake release.
It is the 10th most popular currency in the world. It has বিল 7 billion. You can of course play all these games with stocks, but it is harder and more controlled. This game is easy to play with Litcoin, and no one is in charge at all. Oh, wait, I forgot, the “community” is in charge. Mob rules, why not.
No financial market can ever fully screen manipulators, bad actors and crooks. Crypto should not be held to higher standards than stocks, bonds, commodities, forex … but if we are serious about mainstreaming these markets, assets and materials, it should be held to the same standards of supervision and accountability.
Walmart says crypto payment announcement is fake. Lightcoin crashes after spike (CNBC)