We Need To Fall Over And Make Mistakes In Order To Become Sovereign
Here at Crypto Clothesline, we’ve asked a number of experts and enthusiasts in their fields to comment on the areas of interest that came up in the interview with CryptoGat (Ivan S.) who has over 70k followers on Twitter and recently had a fall from grace after he was found to be part of a market manipulation scheme.
Kim Gibson-Newton: Cryptocurrency Researcher And CryptoEcology Community Founder Talks To Crypto Clothesline About Market Manipulation, Especially In Regards To CryptoGat.
Kim is one of those unassuming mamma brilliants who doesn’t live the Lambo Dream, who is into developing crypto for the wellbeing of the community and is keen to help as many people as she can along the way.
I think we could safely call Kim a Crypto Hippy.
She bought her first Bitcoin back in 2014, when she told me about it too. I drifted off and forgot about it. She got her research groove on.
Skip forward some years and Kim helps a growing community from newbies to seasoned cryptonites, learn and develop deeper and deeper rabbit-hole-understanding of cryptocurrencies, the potential for freedom through decentralisation and online privacy hacks in a world where big brother is now so passé.
With the promising notion of decentralisation, Kim thought that finally market manipulation would be a thing of the stock market past. Instead she comments that with low volume cryptos (cryptocurrencies that are still cheap to acquire), it’s easy to create big price movements. It’s easy to create pump and dumps. Pump and Dumps: READ MORE
Due to there being no current regulation in the space, a lot of people have been attracted to cryptocurrencies – but there’s a lot of fraud and manipulation too.
This manipulation leads to a love/hate relationship with regulation: we want to be free of bolshy centralised authority, but we need to be wary of scammers, and we all need to do due diligence. It’s no longer enough for people to tell us it’s a good idea.
“We need to fall over and make mistakes in order to become sovereign.”
Although Kim sees a lot of ‘spammy’ emails offering information on what appear to be pump and dumps, she’s interested in projects where cryptocurrencies help to solve challenges in the world.
CryptoGat himself discusses being part of over 150 online chat groups, some he chose to participate in, others he was added to without his consent. He openly admits to being active in the pump and dump group he was part of, even though none of the plans was ever acted out, but he speaks at length about the sheer volume of information being sent around: the offers, the chats, the discussions, the deals – it must lose some weight at some point, when real people’s lives become more like video games where you don’t feel the personal gravity of your online actions.
For younger people wanting to get in on the crypto action, Kim suggests they need to have:
- a plan
- a list of things that are important
- make investments based on what’s important
- keep getting educated – doing due diligence, independent research and good reasons for investing