Topic: How pump and dump group are damaging reputation of crypto-currency? (Read 380 times)

Yes, the pimping and dumping group did a lot of damaged to cryptocurrency and they doing it through the regulators, government and FUD site or blog poster. Meanwhile, it hard to know those really behind it.

In my opinion I believed the CBOE, CME group etc. Bitcoin future contract is also among the thing the causes the dumping and pumping in price of the crypto currency market because the project was about betting the future price of the market and due to that some certain group or cartel will be formed to in other for the organisation or company to be profitable.

They should know from the start that cryptocurrency has nothing to do with those P&D groups to lurk the exchanges for their own interest, these coins are just an instrument, not the cause why they got ruined by those people you should not always depend on your decisions in trading from those groups cause the admin got the first touch of benefit and earning for the pumps and dumps plus some groups are requiring their applicants to pay a fee just to join and learn their strategies.

it is easy to feel disapointed with the coin that we are holding when its price keep rising and dropping unexpectively all the time, so any trader who wants to have profit from trading cryptos will be very much tired with the fluctuations, and if this happens for a long time then surely traders will be the ones who suffer losses and feel disappointed until to quit their trading job.

Of course the pump and dump groups are damaging the reputation of crypto-cuurency, because in order for them to work and the participant in then to earn money, there are very many newbies in crypto the lose money due to fear of missing out.
After they figure out how they lost money, not only do they stop investing in crypto-currency, but they will also tell to their friends what happened to them and recommend them to never invest in crypto.

Well, the thing with pump and dump groups nowadays is that the admins are the ones earning money. Everyone else are literally just pumping the money in for the admins, because the admins are the ones who buy in the coins for cheap before signals are released.

That itself can mislead a lot of people into thinking that pump and dump groups are a good way of making money, especially newbies. That will definitely impact newbies perception of BTC.

Also, as you mentioned, if you as an outsider see a coin being dumped to the ground all of a sudden and result in massive losses, you tend to be a lot cautious in your approach. Which is actually a good thing in some regards, but still damages the overall reputation of crypto to outsiders. But the overall impact is the biggest on the participants in the pump and dump groups, who will lose money in the long run.

I can't say that cryptocurrency groups of pumps & dumps harm their reputation. There is nothing illegal, and they use their money to raise or to drop the price. Another matter that the newcomers in these groups can lose because only those who are at the top are winners.

Pump and dump groups are indeed giving bad reputation for crypto currency is. I know some of my newbie friends who became prey for such groups. They lost big amount participating in pump and dump groups. Some of them even left crypto after these incidents.

It really depends on the project or the coin. A very promising coin that is backed up by legitimate investors and run by brilliant devs and invidividuals won't experience this kind of dumping in just a very short period of time. There are lots of groups in discord right now that are trying to invite people and giving signals on to where to pump and dump. I know this is somewhat a manipulation or a strategy but it could severely give bad impact on a particular coin or project.


I agree with you on this. We really need to do our homework before investing our money to a certain project for us to avoid any losses in the future. Investing in crypto is very risky due to its volatility and there are lots of scam ICOs happening right now.

By knowing the background or the people behind the project you can really tell that the altcoin is a promising one. We should also verify the credibility of the devs working on it and the technology that it can bring to the society.

When it comes to the thought that you said about "pump and dump doesn't hurt anyone" I kinda don't agree with this since pump and dump could really affect the value of the coin. I know this is strategy of some groups of people to earn profit but mostly they are doing this to a certain coin that they think is vulnerable to this kinds of manipulation.

When I started trading I used such signals. Then stopped-after the first losses of money.

the reputation of altcoins are already damaged beyond repair because of the true nature of them and also the fact that investors in altcoins care about one thing and nothing else and that is earning more profit. so when people are asking for pump and dumps to happen and are actually happy about it, there is no reputation to be damaged.

also i should add that if a project is really good, for example some altcoin outside of top 10 coins that is focusing on becoming a real currency instead of being pumped and dumped then nothing can damage its reputation ever. you can see bitcoin and the fact that even when they call it "fraud" nobody cares and they only laugh at the person saying it.

Actually these pump and dump schemes are the reason why many people are losing their faith on cryptocurrencies.
Some greedy beginners who invest in these schemes never comeback after losing everything they have on their first attempt, the problem is just lack of knowledge, they just want to become rich but never bother to learn about the background and technology of the coin in which they are going to invest.

Not only BTC market is affected by "Pump and dump" (P&D), this practice is in every trading market. Take example of Equity Trading for instance, you can see huge market swing in both direction (up and down) on any single trading day. That manipulation is done by Big investors who are holding majority of the shares. Although BTC is decentralized and distributed ecosystem, still there are WHALES who have gathered majority of BTC over times and now are in a position to manipulate the BTC market. Rule of thumb is to keep your nerves strong and never ever pay attention to P&D and FUD, HODL is key to success in every market and holds true for crypto market as well.

I also think that pump and dump groups are damaging that specific coin's reputation in very long term people dislike coins like that so I think noone should care about pump dump groups, they are profitable only for group owner anyways.

I think pump and dump group doesn't hurt anyone, infact it makes the crypto trading become more interesting, people need to learn before they invest, if they don't do their research and just put the money then it's their fault, pump and dump group give more exciting chance to make profit

It all depends on the volume of trading of a particular coin on the market. And not always such a fall can speak for that it is a shitcoin, if almost the entire market is in correction. One bad thing is that there are a lot of hamsters in the market who create such situations and discourage others.

It's easy to manipulate the market if there are a big group or popular media that is under it like making news with a known channel, but if it is just a small community at telegram or Facebook, only those who just hoping for easy money will be bait in that trap.

Actually, I can that almost all market has a group of people that like to manipulate the price. Even in traditional Stock even forex market. The difference is that crypto market is still young and thin. These makes the price manipulation in crypto market have more significant effect compared to the other market. My point is that price manipulation unavoidable. Our only hope is that the crypto market will grow even more, and the distribution and adoption is wider.

Actually, there are large groups that sometimes try to pump and dump a coin even with high volumes. Most of the members of these groups are huge buyers sometimes called as "Whale Pump" and earn huge profits. I am not exactly familiar with how they do things but I do know that they target coins such as EOS, POWR, GVT, etc

I have seen more than dozens of coins being totally manipulated with only one ending -> killing the price, and trying to milk out all the money from it.

I have seen coins going from $0,002 to more than $0,02 in less than a few hours, and then going down to nearly zero.

It is simple, but it kills the project.