Topic: An insider scoop on why "PUMP" groups are a SCAM - page 2. (Read 229 times)

These pump groups are not worthwhile. I recommend staying away completely.

Just an old, stupid way of pumping.. Thought, it is already dead, but no - looks pretty alive )

Maybe I was misunderstood. I'm not saying PSAs like this one aren't appreciated, I only meant that such schemes should be obvious without providing proof of why they're scams. It should be implied that anything related to pumps, signals and other "free" services these groups provide on telegram, is to be ignored.

The pump is banned in classic markets, the fact that it is on crypto is terrible ... it can kill good projects by lowering the cost of coins after the rebound. And many lose money.
The law of conservation of energy works and in this case. Spin the coins and get out about the hamsters? The problem is that you are hamsters for those who raise the wave and they go about you

In the case of pump&dump, it's not advice. It's an orchestrated group effort to drive the price up. Those giving the information out NEED others to join. The dream scenario those try to perpetuate is that speculators & outsiders will get in and those being aware of the pump will profit. But that's not what happens most of the time. The price might go up very briefly but only a minority can profit from this. Even if volumes are big, some have to end up losing and usually it's the participants in the group other than the admins.

In this case the "pump" I observed was a great failure in all its aspects.

Its not really  necessary but why cant just appreciate on having a detailed information on here and op did make some efforts and clearly illustrating how these things go. This is helpful for those fool people who arent aware and still joining into this Pump groups. Seeing this post will really open their eyes and wont tend to join up again. Going back, ive never tried to follow these tips because im fully aware that those people who are making signals are already bag holders and hyping the coin just to secure out profits if fool investors would tend to buy out.

Don't really need a detailed post like that to prove these are obvious scams. Just think about it this way: why would anyone give these "tips" out for free? Like in the case of facebook or some other free website that provides a service, you're the product.

A friend sent me an image from a pump group as I was selling some BTC on his behalf. Look at this timeline of events of this pump to find out how pump and dump groups scam people.

"Oh, since you're trading on Cryptopia check this out". 

                                                            "Haha ok" 

I didn't try to take part in the pump but I just observed the results. Volumes on Cryptopia remained low.

This is an hour and a half after the pump.

Those are the trades relevant to the pump. Starting only seconds after it was announced.


This is the message the "pump group" admin had 40 minutes after announcement:


Copied by my friend on our Skype convo because I'm not following the telegram Channel of the group.
This is what I had to say to my friend.


Takeaways from this post:
The volumes remained low. The trades taking place only peaked for 3 minutes, starting only a few seconds after the announcement. Before the announcement the previous trade was at 149 sats. The end report is obviously an exaggeration and blatant lie when volumes are so low. Not to mention that most of the participants of this group are fake anyway, but withing 3 minutes and with volumes so low it's obvious that something suspicious is happening here. It's very likely that the admins of that group simply offload on people for profit. As it would happen with any such scam. Archive of the cryptopia API here.

Note: the API uses UNIX time, I've calculated the timezone differences from the images.