Lets say someone had One hundred thousand dollars.

odolvlobo

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Just so we are all on the same page:

Quote from: http://www.investopedia.com/terms/p/pumpanddump.asp

Definition of 'Pump And Dump'
A scheme that attempts to boost the price of a stock through recommendations based on false, misleading or greatly exaggerated statements.

Yurizhai

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Quote from: Praxis on May 19, 2013, 06:34:26 PM

If someone attempted this, price would rise exponentially. After buying the first 10% of all coins in existence, price would rise by 10% (at least). So probably even if you had a million dollars you couldn't buy all YACs because the price would skyrocket.

I don't think this is necessarily the case, depends on how you do it.

seleme

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Duelbits.com

Pumps on btc-e are never caused by such buys. one or two big buying walls and suckers get caught buying to the level initiator (the one with a wall) finds good enough to launch a dump.

erk

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Quote from: Theguardian on May 19, 2013, 06:26:59 PM

So im curious what would happen if someone bought up at one point a hundred thousand dollars worth of WDC, YAC, LTC, etc. etc. Which would be most effected and would that be considered something of a ¨Pump and Dump¨? Im particularly interested in how Yacoin might respond to such activity.

WDC is not on an exchange so that's going to be pointless. LTC is too strong, $100k is a drop in the ocean for it. YAC maybe, FTC or CNC in a few weeks time when the difficulty rate improves, as has been mentioned, these kind of pumps go on daily on BTC-e with PPC, NMC, TRC etc. not all on the same day of course.

fisheater

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pump-and-dump happens frequently at btc-e.com, people can manipulate some prices such as TRC. Had several weird pump and dump there.

anderl

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you guys are forgetting that the market needs to be liquid at the exchange you are trading at. I've seen a few sub penny pump and dump scams. its not all about buying up the lion's share and just running it up. if you have no sustained buyers to sell into you will be left holding the bag. And since these coins increase in circulation you are just going to get wiped out due to inflation. Its a timebomb that is why all the pump and dumps happen early in these coins' lifecycles. People aren't even waiting for an exchange. They just sell into google docs and forum posts., lol.

digitalindustry

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‘Try to be nice’

Quote from: Praxis on May 19, 2013, 06:34:26 PM

If someone attempted this, price would rise exponentially. After buying the first 10% of all coins in existence, price would rise by 10% (at least). So probably even if you had a million dollars you couldn't buy all YACs because the price would skyrocket.

+1 for common sense

coinerd

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Quote from: bitdwarf on May 19, 2013, 06:37:32 PM

YAC's market cap is somewhere around $165,000 I think, but price would readjust before the buyer had access to more than a fraction of all coins. Not all of them are in the exchanges.

That's pretty good sized, I guess. But yeah $100k is still too much.

You could probably take it for a pretty good roller coaster ride with a few $k.

bitdwarf

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The cryptocoin watcher

YAC's market cap is somewhere around $165,000 I think, but price would readjust before the buyer had access to more than a fraction of all coins. Not all of them are in the exchanges.

coinerd

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Does $100k in YAC exist at current market prices?

You could buy the entire market cap of several small altcoins with that. And then no one else would have coins so the blockchain would quite possibly die.

Best to buy $90k - $95k bitcoins and screw around with the rest I think.

Praxis

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If someone attempted this, price would rise exponentially. After buying the first 10% of all coins in existence, price would rise by 10% (at least). So probably even if you had a million dollars you couldn't buy all YACs because the price would skyrocket.

bitdwarf

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The cryptocoin watcher

Unless there were some crazy sell orders, you would run out of YACs to buy (on bter) before you spent all that money. A lot of people would dump instantly, though.

There's 3 million YACs so in theory each coin would gain $0.033 or... BTC 0.0003. I guess in a very theorical scenario YAC price could stabilize around 0.001. Depends on how the pump happened and how much other money would be drawn in.

Edit: ^{_{How do I math.}}

Theguardian

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So im curious what would happen if someone bought up at one point a hundred thousand dollars worth of WDC, YAC, LTC, etc. etc. Which would be most effected and would that be considered something of a ¨Pump and Dump¨? Im particularly interested in how Yacoin might respond to such activity.

Topic: Lets say someone had One hundred thousand dollars. (Read 884 times)