Looks like the "traditional" world of finance and business writing are trying to up their game, using crypto speak. I suppose it's a good article, probably new to a lot of their readers. But I'd be very, very surprised if the same strategies they talk about aren't used in conventional trading instruments. After all, the same FUD and FOMO derived from stock brokers making panicked calls to each other, buying and selling (pumping and dumping).
Anyway, interesting read, but the groups they talk about are barely scratching the surface, and seem to organise pumps/dumps on small coins (I struggle to avoid "shitcoin"). They also need to know a lot of P/D groups actually fail, since they're mostly amateurs.
This forum actually has quite a good history of old threads with very well written p/d stories. And here's a less crisp article but on a deeper level from Hacker Noon for you conspiracy theorists!
https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
Topic: How Traders 'pump And Dump' Cryptocurrencies - page 3. (Read 556 times)
I don't know how they pump big values like ETH or LTC but to pump altcoins is possible with few bitcoins I think
Thanks for sharing this write up. It will surely help because the information therein is valid and valuable.
I wont say that those pump and dump groups don't exist, and since crypto trading is so recent, and anyone can take part, we probably still see people getting scammed that way, but I think the effect of those groups are getting smaller and will soon disappear as the market liquidity increases. Big money investors don't need those groups, and they can move markets by themselves right now, and I think that a lot of the pump and dump we are seeing, is done by big whales. They move the market, create a hype around it, and then manage to slowly cash out as other join, because they thing a pumping is happening. All these things will decrease as soon as we have decent market makers in the exchanges, and it would be impossible for big whales, and pump groups to move the market.
Pump and Dump group really exist but the way its being run makes it shady and the group admin is always at the one that benefit the most and the strategy is simple. Its a game of population, when you have all of them into a group, they mostly use telegram where some tips are released to get people stuck to them but really its not a tip but something with adequate study, a newbie can easily predict.
After that, all the group admin need to do is to identify the a not so popular coin in an exchange site, buy as much as possible, then start wetting the appetite of your followers of the time it would be tip would be released and when that is done, the rat race begin, while the members are trying to buy forcing the price high, the admin is trying to sell while only few members benefit due to the right timing to dump, others becomes poorer.
And the uniqueness about this group is that, only the admin is allowed to post, only him knows group members, only him gives reviews by members, only him determines those who making profit or losses and finally only him can decide when to shut down the group.
Hi there.
Here you have a good article. It's a recommended lecture if you want to understand those pump-dump waves:
http://uk.businessinsider.com/how-traders-pump-and-dump-cryptocurrencies-2017-11/#pump-and-dump-scams-are-coordinated-through-groups-and-channels-on-the-app-and-advertised-in-advance-2
Any opinions about this?
Here you have a good article. It's a recommended lecture if you want to understand those pump-dump waves:
http://uk.businessinsider.com/how-traders-pump-and-dump-cryptocurrencies-2017-11/#pump-and-dump-scams-are-coordinated-through-groups-and-channels-on-the-app-and-advertised-in-advance-2
Any opinions about this?
Well pump and dump is all going to end soon once the crypto exchanges and the crypto market gets some big market makers because till now everyone is understood about the pump and dump games and how the big whales were making the market moves. Anyways thanks for sharing the nice article.
I wont say that those pump and dump groups don't exist, and since crypto trading is so recent, and anyone can take part, we probably still see people getting scammed that way, but I think the effect of those groups are getting smaller and will soon disappear as the market liquidity increases. Big money investors don't need those groups, and they can move markets by themselves right now, and I think that a lot of the pump and dump we are seeing, is done by big whales. They move the market, create a hype around it, and then manage to slowly cash out as other join, because they thing a pumping is happening. All these things will decrease as soon as we have decent market makers in the exchanges, and it would be impossible for big whales, and pump groups to move the market.
A pretty decent article, but needs more details. Whales also impact the price with the artificial walls and there are many pieces of information missing. It's not rocket science, but still.
Hi there.
Here you have a good article. It's a recommended lecture if you want to understand those pump-dump waves:
http://uk.businessinsider.com/how-traders-pump-and-dump-cryptocurrencies-2017-11/#pump-and-dump-scams-are-coordinated-through-groups-and-channels-on-the-app-and-advertised-in-advance-2
Any opinions about this?
Here you have a good article. It's a recommended lecture if you want to understand those pump-dump waves:
http://uk.businessinsider.com/how-traders-pump-and-dump-cryptocurrencies-2017-11/#pump-and-dump-scams-are-coordinated-through-groups-and-channels-on-the-app-and-advertised-in-advance-2
Any opinions about this?
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