ALTCOINS with no WHITEPAPER getting huge PUMPs????

Singwala

sr. member

Activity: 462

Merit: 260

Quote from: Kamal0028 on January 09, 2018, 01:56:54 AM

Being a newbie ...I always wonder getting into good icos and altcoins by studying them....but to my bad,I see few altcoins which doesn’t have proper website or news are getting pumped overnight and winning the volume as well......On what basis these coins get raised and how to identify them?
Any information would be grateful....

The reason for the price increase of Altcoins with no white paper is due to pump and dump groups manipulating the price. That is why we should keep in mind that we should not be part of it. Because we're definitely going to lose it

Kamal0028

newbie

Activity: 29

Merit: 0

so it’s fine playing this pump dump game with small part of our trading money........but definitely not for long term.....anyways thanks for your feedback guys 😊

kryptqnick

legendary

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Quote from: MISS_nSTASSY on January 09, 2018, 04:00:59 AM

Very simple. Shitcoins that have no whitepaper and almost no development trades on small exchanges with a very small daily trading volume. You can buy this coin from yourself and sell it to yourself. This way you can make any price you want, having not a big amount of money

Yes, I think that's the way things are done. And if a company has sufficient funds, it's kind of a good move to create a false interest in the coin, pump it superhard, because then people of the exchanges will see how successful this coin is and notice something they wouldn't have the slightest idea about before. Yet I think that in the end it doesn't make a coin worth more money, since there are many such sudden pumps, people got used to them already.

penig

member

Activity: 266

Merit: 13

Quote from: mr.bitcoin2k17 on January 09, 2018, 04:57:23 AM

Do you mean anyone can create a shitcoin and make infinite money out of thin air? Shocked

Welcome to cryptocurrency.

Once upon a time there were no white papers, there was a dev and an announcement, a lot of those coins are still around (*cough* Litecoin *cough*).

Vik_the_Carpentner

jr. member

Activity: 84

Merit: 4

Cryptocurrency Wallet - Denaro.io

Quote from: MISS_nSTASSY on January 09, 2018, 04:00:59 AM

Very simple. Shitcoins that have no whitepaper and almost no development trades on small exchanges with a very small daily trading volume. You can buy this coin from yourself and sell it to yourself. This way you can make any price you want, having not a big amount of money

That sound weird. What for people might do such things?

PadenoM

full member

Activity: 308

Merit: 106

Yes, media are part of this pump, not one single day without news about crypto, the more they talk about it, the more it pumps

mr.bitcoin2k17

newbie

Activity: 84

Merit: 0

Quote from: trouble401 on January 09, 2018, 05:02:30 AM

Quote from: mr.bitcoin2k17 on January 09, 2018, 04:57:23 AM

Quote from: MISS_nSTASSY on January 09, 2018, 04:00:59 AM

Very simple. Shitcoins that have no whitepaper and almost no development trades on small exchanges with a very small daily trading volume. You can buy this coin from yourself and sell it to yourself. This way you can make any price you want, having not a big amount of money

Do you mean anyone can create a shitcoin and make infinite money out of thin air? Shocked

Not sure if you are being sarcastic but the poster is trying to say that with low volume it is easy to manipulate prices. Until a coin gets on a couple of exchanges and a market develops, it is hard to gauge the true market value of the coin.

No sarcasm, I'm just a bit confused. There certainly have to be some limits in price manipulation, right? I just can't imagine how this works

Herbert2020

legendary

Activity: 1946

Merit: 1137

of course it is because there are a lot of newbie traders with money at hand wanting to get rich and also because of the always active pumping whales in the whole market.

but the main reason is that nobody cares anymore!
in fact i think for more than 2 years now, people have stopped caring if a project is good, has a whitepaper, a website, open source code, or eve i have seen in cases that they don't even care if the coin exists in real life! the coin may not even have a blockchain (0 transactions for months) and they still trade it happily because it can give them profit.

trouble401

jr. member

Activity: 72

Merit: 6

Quote from: mr.bitcoin2k17 on January 09, 2018, 04:57:23 AM

Quote from: MISS_nSTASSY on January 09, 2018, 04:00:59 AM

Very simple. Shitcoins that have no whitepaper and almost no development trades on small exchanges with a very small daily trading volume. You can buy this coin from yourself and sell it to yourself. This way you can make any price you want, having not a big amount of money

Do you mean anyone can create a shitcoin and make infinite money out of thin air? Shocked

Not sure if you are being sarcastic but the poster is trying to say that with low volume it is easy to manipulate prices. Until a coin gets on a couple of exchanges and a market develops, it is hard to gauge the true market value of the coin.

mr.bitcoin2k17

newbie

Activity: 84

Merit: 0

Quote from: MISS_nSTASSY on January 09, 2018, 04:00:59 AM

Very simple. Shitcoins that have no whitepaper and almost no development trades on small exchanges with a very small daily trading volume. You can buy this coin from yourself and sell it to yourself. This way you can make any price you want, having not a big amount of money

Do you mean anyone can create a shitcoin and make infinite money out of thin air? Shocked

MISS_nSTASSY

full member

Activity: 392

Merit: 105

Vena.Network

Very simple. Shitcoins that have no whitepaper and almost no development trades on small exchanges with a very small daily trading volume. You can buy this coin from yourself and sell it to yourself. This way you can make any price you want, having not a big amount of money

Kamal0028

newbie

Activity: 29

Merit: 0

Being a newbie ...I always wonder getting into good icos and altcoins by studying them....but to my bad,I see few altcoins which doesn’t have proper website or news are getting pumped overnight and winning the volume as well......On what basis these coins get raised and how to identify them?
Any information would be grateful....

Topic: ALTCOINS with no WHITEPAPER getting huge PUMPs???? (Read 187 times)