Most of you long timers know of Fontas and his dump and pump schemes. (He tells every one to buy, mean while he sells, via his twitter account)
Anyway, some one asked the question today about why he got banned on BTC-E
quote from BTC-E trollbox today:
Q: franco334: why did fontas get banned here?
A: CaptainClaw: franco334, found it!
Interesting. We know that Bitcoin is the current price it is because of MtGox going belly up, and the liquidation of stolen bitcoins on a regular basis. Eventually things should start going skyward again, and may be Peercoin will stop being a shadow to BTC.
I found it interesting, especially what was said in that link as proof…
Any comments? Figured I throw this out there for discussion.
Wait, I must be confused. He’s planning on dumping 400k bitcoins and trying to kill it in the process. How is this good for Peercoin? Maybe I’m misunderstanding something here.
It’s not good for any coin.
The point is, that Fontas apparently had access to 400k bitcoins and access to a huge botnet to coordinate this type of attack on the Bitcoin price. When he was found communicating it, he got banned from twitter or btc-e, I’m not sure.
This was 5 months ago, around Dec 2013.
Looking at how the month of December went, we started with a BTC price of $1,000 and by Dec 18th we hit a low of around $500
Right around this time is when Fontas was shooting his mouth off of doing this type of attack. According to historical market prices, it appears to reflect that there might be some validity to what Fontas was advocating, I don’t know.
I just caught this conversation on the troll box on BTC-E on April 24, 2014 and I thought I’d repost to see if any one had any comments.