Topic: Be Careful With Pumping Groups - page 5. (Read 3296 times)
The idea of a pumping group is flawed. It relies on everyone in the group buying when they are supposed to buy, and selling when they are supposed to sell. However, every person in the group stands to gain more by selling before everyone else after a pump. Basically the idea is flawed because game theory. On top of that, it's price manipulation which is stupid and immoral. If bitcoin exchanges every become regulated (which would be great for bitcoin) then these would almost certainly be illegal.
Lately, I have seen some promotions in Facebook on becoming a member of pumping groups for free. yes, it does not cost anything except registration and some push in the keyboard. Now, the question in my mind is if pumping groups can be effective in making me some money.
Searching on the same topic, I received some warnings that pumping groups are there to dry us of funds and that actually they don't care about us small players as we are actually the pawns they are looking for.
In other words, pumping groups can be a trap if you are not very careful. Why? Because those leading the pumping have already bought their coins ahead of the pumping announcement and when the coin has already risen they would immediately sell their holdings and if you are not watching you can have your bags empty.
I was just a newbie on this and I got victimized because just seconds after I bought my coins the value rose which led me to believe it could rose further but then the slide happened as fast as it rose.
Instead of becoming a part of pumping groups, I am now instead of a group which analyzed trends and give away possible coins to rise...and all for free.
Searching on the same topic, I received some warnings that pumping groups are there to dry us of funds and that actually they don't care about us small players as we are actually the pawns they are looking for.
In other words, pumping groups can be a trap if you are not very careful. Why? Because those leading the pumping have already bought their coins ahead of the pumping announcement and when the coin has already risen they would immediately sell their holdings and if you are not watching you can have your bags empty.
I was just a newbie on this and I got victimized because just seconds after I bought my coins the value rose which led me to believe it could rose further but then the slide happened as fast as it rose.
Instead of becoming a part of pumping groups, I am now instead of a group which analyzed trends and give away possible coins to rise...and all for free.
Jump to: