Do you think that planned pump and dump is ethically acceptable? - page 2.

fullhdpixel

hero member

Activity: 2828

Merit: 611

Quote from: Cryptopher on December 27, 2020, 08:26:07 PM

Pump and dumps have been a part of cryptocurrency trading scene since the first exchanges went live, owing a lot to thin order books, and unregulated exchanges.

That is, an individual or a group of individuals could cause an increase in price (typically with volume) to generate hysteria to then subsequently sell off for a huge profit at the expense of those late to the game.

The markets have long been manipulated, however nowadays there are groups dedicated to generated huge trading volumes along with heavy social media promotion to generate hysteria.

What's your take on pump and dumps? Does it make you feel uncomfortable knowing that traders outside of the circle will likely make a short-term loss, while those within the circle will mostly make significant gains?

If it’s in the stock market pump and dump is illegal, but since cryptocurrency market is regulated I wouldn’t say that it is illegal, buts it is a wrong thing to do (that’s what I think, and I know that there are people like who wouldn’t like pump and dump groups). I have heard and seen lots of pump and dump groups but I never took part in it.

Why this thing annoys me is because there groups are fond of targeting microcap cryptocurrencies that are still struggling to find their way up and they will pump it and dump which will discourage a lot of investors. It’s wrong for me.

buwaytress

legendary

Activity: 2968

Merit: 3684

Join the world-leading crypto sportsbook NOW!

Quote from: Silberman on January 02, 2021, 02:26:44 PM

I think that people have different concepts of pump and dump and that is why there are so many voting for the option yes on the pool, it seems they think that any rapid growth or decrease in the price as a pump and dump and that is just the natural volatility of the market, but when I think of a pump and dump I think of a scheme in which a small group of individuals buy a coin with a low market cap for a cheap price and then they convince a lot of people this coin will go up and as such it pumps and then they dump their coins on them when the price is high, and such a thing is a scam no matter how you look at it.

Strange that there would be many concepts. It's not a crypto term, just popularised in crypto markets. And it really is a straightforward, ethically unsound concept that's recognised: you pump by making price, volume and demand go up artificially, and you dump on unsuspecting latecomers. Pretty clear to me, no argument.

So yeah, like you said, scammy af, and no two ways about it.

Hamphser

sr. member

Activity: 2604

Merit: 338

Vave.com - Crypto Casino

Quote from: Silberman on January 02, 2021, 02:26:44 PM

Quote from: buwaytress on December 28, 2020, 05:40:37 PM

Nowadays? Pump and dump groups are as old as trading itself. Forex groups been populating markets for a long time, though yeah crypto markets and the ease of creating tokens now have really just been a boon to these signal providers and so-called pump groups. But just in case you didn't know, and for the benefit of others, they're all scams, you do know that, right?

Never mind ethics, they're not even profitable.

I think that people have different concepts of pump and dump and that is why there are so many voting for the option yes on the pool, it seems they think that any rapid growth or decrease in the price as a pump and dump and that is just the natural volatility of the market, but when I think of a pump and dump I think of a scheme in which a small group of individuals buy a coin with a low market cap for a cheap price and then they convince a lot of people this coin will go up and as such it pumps and then they dump their coins on them when the price is high, and such a thing is a scam no matter how you look at it.

Im having the same perception too when it comes to the poll results where people might believe that this is just a usual concept without even realizing

on whats actually a pump and dump scheme.Of course we don't really want to see to have that kind of market where price can shoot up green high spikes and

later on we do see a huge red candle sharply crashing down to the floor.It isn't acceptable but it can possible happen from time to time.

Shasha80

sr. member

Activity: 1876

Merit: 318

I think the planned pump and dump is an unethical way of trading and I am against it, because there will be many newbies who become victims.
I have a friend who is a victim of a pump and dump conducted by a trading group, eventually he considers crypto is scams. So I am very upset
if there are whales doing pump and dump, it causes many victims for small investors who don't have trading experience. Moreover, getting profit
from a pump and dump will make us feel guilty, because there are some people who are disadvantaged.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: buwaytress on December 28, 2020, 05:40:37 PM

Nowadays? Pump and dump groups are as old as trading itself. Forex groups been populating markets for a long time, though yeah crypto markets and the ease of creating tokens now have really just been a boon to these signal providers and so-called pump groups. But just in case you didn't know, and for the benefit of others, they're all scams, you do know that, right?

Never mind ethics, they're not even profitable.

I think that people have different concepts of pump and dump and that is why there are so many voting for the option yes on the pool, it seems they think that any rapid growth or decrease in the price as a pump and dump and that is just the natural volatility of the market, but when I think of a pump and dump I think of a scheme in which a small group of individuals buy a coin with a low market cap for a cheap price and then they convince a lot of people this coin will go up and as such it pumps and then they dump their coins on them when the price is high, and such a thing is a scam no matter how you look at it.

luvwindy

full member

Activity: 322

Merit: 100

I voted NO
Because its a fraud, and a form of market manipulation which makes money by creating a false market.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

Quote from: SquallLeonhart on December 29, 2020, 12:10:26 PM

I doubt that we will always have pump and dumps in the market, we are going towards something more. Have you realized that thanks to DeFi projects and exchanges like uniswap we have been going towards more of a "swap" instead of trade? That means if we get to reach to a point where people are swapping their tokens instead of just selling them, that means pump and dump could become much harder.

I am not saying it will be impossible, but it could get al ot harder. Obviously CEX will always exist but by the looks of it they are either going to DEX route as well, or they are delisting many coins and keeping only the ones that are profitable, which would mean a lot higher volume which "should" mean it would be a lot harder to pump and dump, would require A LOT more money. Hence I think eventually we can get rid of all the pump and dump type of news very soon.

The pump and dumps will always happen in the market, no matter we hard to predict when it will come. Uniswap gives another opportunity for people to making money, and they sell their tokens at that exchange. So I think swap and trade will be the same because people sell (swap) their tokens to ethereum. But sooner or later, people will have more opportunities to sell their tokens at the popular exchanges because the tokens will get lists on the exchanges.

CEX and DEX will have its fan, and people will know what they need to choose, whether using CEX and DEX. There will be people or groups who will use the news to make pumps and dumps because they want to make a big profit from the tokens.

imstillthebest

full member

Activity: 1638

Merit: 122

pump and dumps happen on the coins that we arent familar with or newer built coins , it didnt bothers me because im not into those coins but i pick standard coins although there are manipulations here too but this mostly came from normal whales and not by a group of pump and dumpers .
i can timed my moves well , ive been affected by manipulations minimally luckily . pump and dump are accepted because they are long known and they are still not banned but people hate fake pump and dump groups .

SquallLeonhart

legendary

Activity: 2464

Merit: 1102

Quote from: michellee on December 29, 2020, 12:56:49 AM

Quote from: Dutchyyy on December 28, 2020, 06:51:29 PM

Pumps and dumps and immoral and I cannot accept it ethically.

They are literally planned and executed mass scams! Additionally, pumps and dumps are bringing bad names over communities and coins.

Even if that pumps and dumps are not ethical, that pumps and dumps will always happen at the market, and we can not deny it. I think we can enjoy that moment because I am sure that if we can follow the pumps and dumps moment, we will make a profit, and we can get the best time to buy the coin at a low price. Yes, those pumps and dumps controlled by some groups, and if we are not careful, we can lose our money because we are buying the coin at a high price.

I doubt that we will always have pump and dumps in the market, we are going towards something more. Have you realized that thanks to DeFi projects and exchanges like uniswap we have been going towards more of a "swap" instead of trade? That means if we get to reach to a point where people are swapping their tokens instead of just selling them, that means pump and dump could become much harder.

I am not saying it will be impossible, but it could get al ot harder. Obviously CEX will always exist but by the looks of it they are either going to DEX route as well, or they are delisting many coins and keeping only the ones that are profitable, which would mean a lot higher volume which "should" mean it would be a lot harder to pump and dump, would require A LOT more money. Hence I think eventually we can get rid of all the pump and dump type of news very soon.

Kupid002

sr. member

Activity: 1036

Merit: 329

Quote from: maxreish on December 28, 2020, 07:11:46 PM

Uncomfortable it is but that's how it is and I know for a fact that crypto market jas been manipulated by those pump and dump groups.
Technically, theyve used to boost the price whenever they've wanted to. These schemes have been happening since I've joined crypto industry.

Thus, those who are doing such will lead to massive losses when you can't handle this unexpected pumps and dumps especially when you are day trader.

We need to accept that some whales can control the price of one of the altcoin if they want thats why you to DYOR before investing in any project. Even in too crypto exchange it's working since whales or those who have a lot money want to also increase by trading crypto currency and they know that it is hard to do known crypto currency . So they do it to new crypto that has a potential and bought in deep and sell it those people that late to enter the market.

Kelvinid

sr. member

Activity: 2828

Merit: 344

win lambo...

Quote from: maxreish on December 28, 2020, 07:11:46 PM

Uncomfortable it is but that's how it is and I know for a fact that crypto market jas been manipulated by those pump and dump groups.
Technically, theyve used to boost the price whenever they've wanted to. These schemes have been happening since I've joined crypto industry.

That seems to be normal and a thing that we don't need to complain about but instead to accept and live the market that is full of excitement and drama.

Besides, these people are free to do what they want. And I don't think there are doing badly in fact, traders are also benefiting from this. We have a chance to buy at the deep and sold it the bearish season, this becomes possible because of them and maybe, we are so thankful for having them.

k@suy

sr. member

Activity: 882

Merit: 269

Quote from: Yamifoud on December 28, 2020, 04:51:15 PM

Manipulation, the pump and dump group have this way to make the market more alive than usual transactions.

For me, it was acceptable. Besides, I was benefiting from it. But I don't think that was made so simple. People who are involved in this (probably a whales) are also risking their money. Of course, they are also spending money on this to completely set up their plan and succeed. And investors had come on the market, we never think it was a trap (even now) but thinking as a normal scenario.

A definitely true, for me a dump and pump group set the market on green or alive and its a way acceptable and in fact the green market not only benefits a one person only but it does benefits us all. The most probable thing that we should consider dealing with these dump and pump states are the risk that we may take, and yes the risk were already given and we don't have any other choice but to deal with it, but atleast these might help us to become wisely enough in our decisions in dealing in cryptocurrency.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

Quote from: Dutchyyy on December 28, 2020, 06:51:29 PM

Pumps and dumps and immoral and I cannot accept it ethically.

They are literally planned and executed mass scams! Additionally, pumps and dumps are bringing bad names over communities and coins.

Even if that pumps and dumps are not ethical, that pumps and dumps will always happen at the market, and we can not deny it. I think we can enjoy that moment because I am sure that if we can follow the pumps and dumps moment, we will make a profit, and we can get the best time to buy the coin at a low price. Yes, those pumps and dumps controlled by some groups, and if we are not careful, we can lose our money because we are buying the coin at a high price.

maxreish

sr. member

Activity: 1330

Merit: 326

Uncomfortable it is but that's how it is and I know for a fact that crypto market jas been manipulated by those pump and dump groups.
Technically, theyve used to boost the price whenever they've wanted to. These schemes have been happening since I've joined crypto industry.

Thus, those who are doing such will lead to massive losses when you can't handle this unexpected pumps and dumps especially when you are day trader.

Max_Headroom

jr. member

Activity: 36

Merit: 10

Quote from: Dutchyyy on December 28, 2020, 06:51:29 PM

Pumps and dumps and immoral and I cannot accept it ethically.

They are literally planned and executed mass scams! Additionally, pumps and dumps are bringing bad names over communities and coins.

JPMorgan Chase approved Grin

Dutchyyy

legendary

Activity: 1197

Merit: 1001

Pumps and dumps and immoral and I cannot accept it ethically.

They are literally planned and executed mass scams! Additionally, pumps and dumps are bringing bad names over communities and coins.

buwaytress

legendary

Activity: 2968

Merit: 3684

Join the world-leading crypto sportsbook NOW!

Nowadays? Pump and dump groups are as old as trading itself. Forex groups been populating markets for a long time, though yeah crypto markets and the ease of creating tokens now have really just been a boon to these signal providers and so-called pump groups. But just in case you didn't know, and for the benefit of others, they're all scams, you do know that, right?

Never mind ethics, they're not even profitable.

Ziskinberg

hero member

Activity: 3010

Merit: 666

We have accepted it already because we understand that it's how the market works, the pumpers and the dumpers are just paying around, they hype the news and they cause some panic after, the only people who are affected here are those who doesn't know how to play the game.

Been here for a while and I learn a lot of things, bitcoin will never continue its pumped for long, there's always a correction and some panic while me, I'll just wait at the right time to buy at dip. Believe me, this bull run will result to another big panic but that's a necessary one.

Max_Headroom

jr. member

Activity: 36

Merit: 10

Quote

That's why most of the time when there's a new projects coming out investors tend to dump early once it's get listed.

I see -_-

Max_Headroom

jr. member

Activity: 36

Merit: 10

another question in ..

is there a "pump'n'dump coin/colored/token"? or "bump and dump" (ticker bad)

crypto pump'n'dump schemes always reminds that old Music Video Clip "Paul McCartney & Michael Jackson - Say, Say, Say (Original 1983 Video)" Grin

Topic: Do you think that planned pump and dump is ethically acceptable? - page 2. (Read 735 times)