How pump and dump group are damaging reputation of crypto-currency? - page 2.

poplolnman

legendary

Activity: 1442

Merit: 1008

Quote from: ashmodeus on April 19, 2018, 01:37:32 PM

Quote from: showbiz111 on April 19, 2018, 05:25:49 AM

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

well
if that coin is useless coin , just like a easy way to get money.
but if that a good , like a top 100 coinmarket.
i think they need a big money to make a pump dump scheme.
about newbie , i believe more exchanges sites already announced about crypto currency is very fluctuactive
considering exchanges sites its a initial steps to get started

a low volume coin could easily manipulated but no with the high volume , if that what you mean then that's true , I couldn't agree more. It was a fraud that no one knows especially a newcomer.
For the first time they might would feel that's a crazy market , unbelievable and sucks experience. But you know it won't happened last forever , you'll get sweet profit and realize that the last time it was a pump and dump did intentionally not an ordinary market.

Pattberry

sr. member

Activity: 448

Merit: 250

Quote from: showbiz111 on April 19, 2018, 05:25:49 AM

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

The most important thing before investing is to learn about the market and understand the purpose of the coin or token before investing as there are many coins aimed at just dump and pump and since this is a unregulated market expect these kind of coins and make sure you only invest in top coins in the market rather than going for dump coins.

imstillthebest

full member

Activity: 1638

Merit: 122

Quote from: Hamphser on April 19, 2018, 05:21:59 PM

Quote from: showbiz111 on April 19, 2018, 05:25:49 AM

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

For newbie people who just came in and engage theirselves into crypto without any further knowlegde and awareness on possible risk then most of the time they would really heading this way.This do really make bad impression towards crypto but as crypto lovers and investors we do know the truth thing which it gives advantage for us investors.

i dont think they pump and dump group gives bad reputation to the crypto because its been only said on the name that they are pump and dump which means they can manipulate the coin. Any users who join it wil surely know it and i hope that they are also aware that cryptos are volatile which means it can fluctuate non stop resulting for its value to increase and decrease without a warning. groups doesnt give a bad name bad the mechanics of crypto itself gives them a doubt.

Hamphser

sr. member

Activity: 2534

Merit: 332

Quote from: showbiz111 on April 19, 2018, 05:25:49 AM

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

For newbie people who just came in and engage theirselves into crypto without any further knowlegde and awareness on possible risk then most of the time they would really heading this way.This do really make bad impression towards crypto but as crypto lovers and investors we do know the truth thing which it gives advantage for us investors.

morgan4140

full member

Activity: 434

Merit: 100

Quote from: showbiz111 on April 19, 2018, 05:25:49 AM

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

I have a similar example. I have an OBSIDIAN coin that cost more than $ 2.5. Now it costs 0.1 dollar. I agree, we just have to be patient.

iram1011

hero member

Activity: 896

Merit: 521

Firstly, the crypto market is unregulated unlike other markets like Forex, stocks or shares market. This gives the bulk hodlers a freedom to conduct pump and dump. Secondly, there are lots of unskilled and rookie investors in crypto who blindly follow these Twitteratis and Telegram groups. I have seen these admins manipulating the followers. They buy before and then announce in group to short profits. It would be tough to escape this situation unless the distribution becomes more diversified.

bitcoinposts

member

Activity: 448

Merit: 10

due to recent market downfall, we won't see pump and dump groups working all expect crypto traders vanished from the market bitcoin stabilized in between 6000 $ to 8000 $ no telegrams signals will work at this point of market

Poink

full member

Activity: 350

Merit: 122

Quote from: Condoriano on April 19, 2018, 11:54:34 AM

Not exactly damaging the reputation, pump and dump is definitely one way to earn. Even sometimes in stock market it does happen. Effects can be negative or positive depend on your situation. Others do earn while others experience losses. It does happen to coins which doesn't have a long term goal so we can call it shitcoin.

Really???

You know; stealing, mugging, holdap, carnapping, kidnap for ransom, dealing illegal drugs, human trafficking, etc. are ways to to earn as well? But do you realize these are wrong? Market manipulation (which what P&D is) is illegal and morally wrong!

akamit

hero member

Activity: 1498

Merit: 596

Quote from: showbiz111 on April 19, 2018, 05:25:49 AM

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

I'm extremely against the P&D groups and their market manipulation theory.
The reason is simple, very few participants will be gainer and the maximum will be bagholders if the pump & dump operation is for a shit coin.
Usually, the p&d group team members are the ones who get the benefit from every operation and the ordinary participants get busted.

Of course, it is discouraging newbies from cryptocurrency investment/trading sector.
If a newbie starts his/her journey of trading by participating in p&d and becomes a bagholder then he/she most probably will lose the interest on cryptocurrency.

In my opinion, steady growth with people's pure interset is much better.

AK47-

sr. member

Activity: 644

Merit: 250

I believe the pump and dump in crypto sphere isn't limited to only small cap coins. Even large cap coins and BTC itself gets pumped and dumped. We did see Bitcoin getting pumped and dumped using futures trading these 3.5 months. Also ETH being the victim too. In this market, the distribution isn't equal. Some 1%-2% are hodling the maximum percentage of the total mcap. Thus, having this pump and dump where investors aren't that skilled become easy and small investors become easy target for those Telegram groups.

ashmodeus

hero member

Activity: 1638

Merit: 518

Quote from: showbiz111 on April 19, 2018, 05:25:49 AM

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

well
if that coin is useless coin , just like a easy way to get money.
but if that a good , like a top 100 coinmarket.
i think they need a big money to make a pump dump scheme.
about newbie , i believe more exchanges sites already announced about crypto currency is very fluctuactive
considering exchanges sites its a initial steps to get started

berrygood

full member

Activity: 308

Merit: 101

I invested $500 in an ico, now it is only $50, I never invest in pump dump coins and some coins hyped by groups but ico always makes me lose money.

DeepChipolino

member

Activity: 658

Merit: 11

About a not shitcoin: pump-and-dumps increase the popularity of crypto currency. But difficult to rate the reputation.

Do not worth buying coins that can pump groups from social networks. These are illiquid coins and it are easy to drive.

uncleduckerr

full member

Activity: 202

Merit: 100

Because in any other regulated market in the world that is taken seriously this is illegal. I know this market isn't regulated yet but if we want to be taken seriously this behavior has to stop soon. However, I know that without a law in place it will happen until the very moment that law gets passed. Regulation couldn't get to crypto any quicker.

Condoriano

member

Activity: 162

Merit: 10

Not exactly damaging the reputation, pump and dump is definitely one way to earn. Even sometimes in stock market it does happen. Effects can be negative or positive depend on your situation. Others do earn while others experience losses. It does happen to coins which doesn't have a long term goal so we can call it shitcoin.

Ninciabr

newbie

Activity: 56

Merit: 0

No, it is necessary to get used to the fact that cryptocurrency is a volatile tool and take into account the high volatility when making transactions.

Swenna

full member

Activity: 364

Merit: 106

Quote from: AngelSky on April 19, 2018, 09:51:18 AM

Quote from: showbiz111 on April 19, 2018, 05:25:49 AM

-snip-

Most of the bump and dump group give the signals on some exchanges via their twitter or telegram channels usually. They cannot hold the dump or pump for more than 1 hour. As I checked one person this is the maximum time they can rule the price.
Do you want to find the bitcoin grow in the market means these group will not be a helpful one as I know.
They can only rule with the cheap tokens and cheap coins only.

This is real. There are so many telegram groups that is intended for a pump and dump act. These groups are mostly composed of at least ten thousand members. They have this schedule on when they will announce what coin to buy and in which exchange. After the announcement, the pump will begin and then the members of this group will start trolling in the chatbox of the exchange, engaging other people to look at the sudden rise of the price. The outsiders will of course take the bait and invest and then after meeting their profit (200% atmost), they will start to exit and dump all of the coins. Thus, the coin loses its actual price, leaving it all dry.

kirstiemorton23

jr. member

Activity: 280

Merit: 1

Quote from: saturn.network on April 19, 2018, 09:56:00 AM

Pump and dump will always exist it is just the nature of the game. Better not to worry about it, as long as you avoid the scamcoins then it should not really matter, the price will eventually be corrected =)

I agree with you pump and dump will always be there, I will just follow their game pattern, I am more afraid of scam coins.

swissgang

full member

Activity: 462

Merit: 100

That groups may be independent of coin, they can't pump every coin but they can pump most coin depending on the power of group so it is not about coins but coins with low market cap are more vulnerable.

saturn.network

jr. member

Activity: 193

Merit: 2

Team Saturn

Pump and dump will always exist it is just the nature of the game. Better not to worry about it, as long as you avoid the scamcoins then it should not really matter, the price will eventually be corrected =)

Topic: How pump and dump group are damaging reputation of crypto-currency? - page 2. (Read 380 times)