Topic: Someone please help me to understand the shitcoin pump and dump... (Read 1782 times)
November 14, 2017, 11:35:29 AM
basic fundamental for the pump and dump coin, be informative specially in telegram, you should be ahead of anybody, position, if they plan listing it to another exchanger, buy early. and right after the pump, after listing. sell all, dont ask for another chance it will dip forever.
November 13, 2017, 12:02:07 PM
Folks, how to know the difference between Shitcoins and Altcoins?
December 16, 2016, 01:38:11 PM
There are a lot of people, who want to make profit from altcoins and are ready to invest. So they just start to buy in a hope, that they will make a lot. Altcoin price go up, but demand is low, so they will loose instead of profit. And after a time, they make another altcoin and start again.
Yes we see many copy-cats are being launch daily but many are not making much money with this altcoin. Only dump and pump coin many people are investing into it because they can make huge money with in short period of time but they are wrong they need to understand that it won't give much profit with in short period of time. There are many good coins being launched daily you need to look those and concentrate on it you will make with those.
well, to me, a few bitcoins is a lot of money to a ctrl+C ctrl+V coin.
most of these coins get a decent volume at launch in a exchange like yobit. Doesnt seem much, but still a good amount of money for almost zero work.
December 16, 2016, 12:05:45 PM
It's all manipulation by a few groups of traders, you need to stay away from trading altcoins at all cost.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.
Actually a manipulation came from the devs itself especially those newly launched coins at ICO. The big whales are just part of the manipulation but the main came from the devs which holds lots of coins. In that way they can create a panic and the result, a big profit. If ever the coin isn't be hooked some of traders then they will stop the development then that coin will now be a shit one. Easy money just need some efforts.
But don't take this statement seriously, it's just my speculation that is near from the reality in the world of altcoin trading.
this is one of the reasons why they ask for ICO in the first place. developing an altcoin is not really a hard job these days that they need investment pre release!
they take all that money and use to create walls depending on where they want to push the price.
and people are still looking for new ICOs to invest in!!
December 16, 2016, 02:45:21 AM
There are a lot of people, who want to make profit from altcoins and are ready to invest. So they just start to buy in a hope, that they will make a lot. Altcoin price go up, but demand is low, so they will loose instead of profit. And after a time, they make another altcoin and start again.
Yes we see many copy-cats are being launch daily but many are not making much money with this altcoin. Only dump and pump coin many people are investing into it because they can make huge money with in short period of time but they are wrong they need to understand that it won't give much profit with in short period of time. There are many good coins being launched daily you need to look those and concentrate on it you will make with those.
December 16, 2016, 02:03:11 AM
It's all manipulation by a few groups of traders, you need to stay away from trading altcoins at all cost.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.
Actually a manipulation came from the devs itself especially those newly launched coins at ICO. The big whales are just part of the manipulation but the main came from the devs which holds lots of coins. In that way they can create a panic and the result, a big profit. If ever the coin isn't be hooked some of traders then they will stop the development then that coin will now be a shit one. Easy money just need some efforts.
But don't take this statement seriously, it's just my speculation that is near from the reality in the world of altcoin trading.
December 16, 2016, 01:43:42 AM
There's a lot of money to be made from pump and dump coin,not actually shitcoin this is why people are still investing in this pump and dump coin,but timing plays a crucial factor here,you need to know when you will get in and when you'll get out and you must not be late doing that lost a lot from being late to come out from some of the coin I invested in.
December 15, 2016, 11:33:12 PM
It is not just all about the dev's responsibility for the pump and dump. And the whales have the biggest contribution for a coins pump and dump.
Exactly, that's why those coins who used to have the potential but once those group of traders did something to make its price to fall down.
Then that is not the fault of the dev's for its fall down, even though he needs to do something for that. Greediness is leading them for doing that.
It's all manipulation by a few groups of traders, you need to stay away from trading altcoins at all cost.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.
Exactly, that's why those coins who used to have the potential but once those group of traders did something to make its price to fall down.
Then that is not the fault of the dev's for its fall down, even though he needs to do something for that. Greediness is leading them for doing that.
December 15, 2016, 07:21:07 PM
It's all manipulation by a few groups of traders, you need to stay away from trading altcoins at all cost.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.
exactly.
in a few cases you dont even need much... one small whale with a bot can manipulate the volume on the exchange and attract newbie traders to the feast. Yobit is a good example, every day we see a few sh*tcoins being manipulated with small orders from a bot.
December 15, 2016, 05:15:25 PM
It's all manipulation by a few groups of traders, you need to stay away from trading altcoins at all cost.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.
December 15, 2016, 08:50:02 AM
the coins don't necessarily have to be shit. pumpers will descend on anything they can get their hands on. there are some interesting projects which have been just as pumped as the absolute junk.
yeah but what OP is talking about here is the real shitcoins, because that is strange.
when any other coin is pumped you can understand why it is happening, and other people will surely join in the pump too because there actually is something to that coin.
but with a shitcoin there is nothing apart from the same code with a different name and there is no reason for the rise.
December 14, 2016, 10:50:34 PM
I observed that many shitcoins come out on a daily basis. I call them shitcoins, because you can see clearly they are copy-and-paste coins, with nothing new other than some changes of parameters, and usually huge amount of premines. The devs aim at quick dump and try to make some money.
When these coins hit the exchanges, often there are some pump and dump. Someone, artificially pump the price for a while, then he will dump, and many such coin the price will go to 1 sat, with no one buying, usually it's the dead of the coin. The "dev" may start another coin etc.
Question is: how can these people make money? initially, there will be some people mine the coins, and they will dump all once the exchange exist. If dev artificially pump the price, will any people really follow him and buy?? I won't imagine there are people so stupid and let dev with huge premine to dump. So I think dev's pump is useless as those who mined the coin will dump regardless. But why I still see many pump then followed by dump in these shitcoins??
When these coins hit the exchanges, often there are some pump and dump. Someone, artificially pump the price for a while, then he will dump, and many such coin the price will go to 1 sat, with no one buying, usually it's the dead of the coin. The "dev" may start another coin etc.
Question is: how can these people make money? initially, there will be some people mine the coins, and they will dump all once the exchange exist. If dev artificially pump the price, will any people really follow him and buy?? I won't imagine there are people so stupid and let dev with huge premine to dump. So I think dev's pump is useless as those who mined the coin will dump regardless. But why I still see many pump then followed by dump in these shitcoins??
Before all they do is create hype and pump the price of their shitcoin and everyone clueless in the community will follow. Now it has become more sophisticated and it looks very legitimate. They still hype and make fantastic promises and then organize an ICO, get millions and then slowly leave the project and declare it is now in the hands of the community. A good example of this will be Ethereum.
December 14, 2016, 08:24:01 PM
the coins don't necessarily have to be shit. pumpers will descend on anything they can get their hands on. there are some interesting projects which have been just as pumped as the absolute junk.
December 14, 2016, 08:06:33 PM
I agree with most what you said. However, those who may rise again from depressed price are usually early fork of some new coins, like for example after zcash was out, there's a clone called zclassic, where there are quite some people mining and support. But I am talking on those coins with normal scrypt, SHA256, X11/X13 etc, really nothing new and nothing attractive, and sometimes the dev does not even bother to promo, but still sometimes I can see pumps happen, really don't get the logic behind it ...
I think that in most such cases the devs don't earn anything.
The pumps and dumps are orchestrated by special groups that pick low volume coins and try to earn from them. In many cases the groups don't know and don't care how bad the coin is. And as I said, when the price rises many go to buy, afraid that they may miss the train. And they become easy targets.
Then there are the exchanges. I am almost certain that many exchanges fake transactions (and some may even look like real pumps and dumps because of the low volumes) in order to show better volumes.
Of course, these are theories...
generally, devs hold the most coins in the market(because in most cases it's premined)..
but i'm sure there a projects where devs didn't premined, tried their best but a few whales bought most coins, forced a pump and then dumped.
December 14, 2016, 07:13:17 PM
Because the signature campaign they will eed to pay weekly with either bitcoin or their own coin. If they pay their own coin people will just dump and creating more selling pressure.
They can start by spreading hype solo and begin the signature campaign several weeks before the dump, it is trivial to maintain a signature campaign for one week without paying a satoshi, and that can easily be extended by making credible excuses for "postponing" payment ("I am too busy now please keep your signature and wait", "you are kicked out for not writing constructive posts", "NEW RULE: make your own s***coin wallet or get sacked (when the wallet generator does not work)", "I am running the thread but someone else is sending the payment, and they have been inactive for several day", "payment is postponed until I evaluate posts", "I am waiting for more payments to accumulate, to avoid dust transactions", "I lost my paper wallet, I will pay when I find it", "the campaign is experiencing technical issues, please keep your signatures"), they can keep doing this until the dump and disappear afterwards without paying anyone.lol, there are different techniques to cheat, and this wild world is largely about cheating. So yes, playing this like swimming with sharks, I'd prefer to stick to more stable coins.
December 14, 2016, 05:02:34 PM
Because the signature campaign they will eed to pay weekly with either bitcoin or their own coin. If they pay their own coin people will just dump and creating more selling pressure.
They can start by spreading hype solo and begin the signature campaign several weeks before the dump, it is trivial to maintain a signature campaign for one week without paying a satoshi, and that can easily be extended by making credible excuses for "postponing" payment ("I am too busy now please keep your signature and wait", "you are kicked out for not writing constructive posts", "NEW RULE: make your own s***coin wallet or get sacked (when the wallet generator does not work)", "I am running the thread but someone else is sending the payment, and they have been inactive for several day", "payment is postponed until I evaluate posts", "I am waiting for more payments to accumulate, to avoid dust transactions", "I lost my paper wallet, I will pay when I find it", "the campaign is experiencing technical issues, please keep your signatures"), they can keep doing this until the dump and disappear afterwards without paying anyone. 
December 14, 2016, 02:22:29 PM
Directions for running pump-and-dump scam:
(1) Copy code from existing coin, tweak parameters, create huge premine, and give it a catchy name.
(2) Create an ANN thread with flashy graphics, exalting the virtues of your coin.
(3) Create a scam signature campaign, promising to pay participants for wearing signatures and spamming social media.
(4) Maintain the signature campaign as long as possible by postponing payment.
(5) Watch resulting price rise, until it starts to level out.
(6) Dump the premine, get BTC for it.
(7) Leave.
Note that the scammer never has to pay a single satoshi.
(1) Copy code from existing coin, tweak parameters, create huge premine, and give it a catchy name.
(2) Create an ANN thread with flashy graphics, exalting the virtues of your coin.
(3) Create a scam signature campaign, promising to pay participants for wearing signatures and spamming social media.
(4) Maintain the signature campaign as long as possible by postponing payment.
(5) Watch resulting price rise, until it starts to level out.
(6) Dump the premine, get BTC for it.
(7) Leave.
Note that the scammer never has to pay a single satoshi.
Interesting topic and good scenario, except I don't think they need to do signature campaign. Because the signature campaign they will eed to pay weekly with either bitcoin or their own coin. If they pay their own coin people will just dump and creating more selling pressure. Possibly just nice graphics + hype, then followed by dump to make quick bucks.
December 14, 2016, 02:18:14 PM
I agree with most what you said. However, those who may rise again from depressed price are usually early fork of some new coins, like for example after zcash was out, there's a clone called zclassic, where there are quite some people mining and support. But I am talking on those coins with normal scrypt, SHA256, X11/X13 etc, really nothing new and nothing attractive, and sometimes the dev does not even bother to promo, but still sometimes I can see pumps happen, really don't get the logic behind it ...
I think that in most such cases the devs don't earn anything.
The pumps and dumps are orchestrated by special groups that pick low volume coins and try to earn from them. In many cases the groups don't know and don't care how bad the coin is. And as I said, when the price rises many go to buy, afraid that they may miss the train. And they become easy targets.
Then there are the exchanges. I am almost certain that many exchanges fake transactions (and some may even look like real pumps and dumps because of the low volumes) in order to show better volumes.
Of course, these are theories...
Yes what you said makes sense. For those really plain shitcoins they don't get much chances, sometimes they create multiple accounts to hype, usually these are newbie accounts. Then pump and try to dump, lol.
December 14, 2016, 01:43:37 PM
Directions for running pump-and-dump scam:
(1) Copy code from existing coin, tweak parameters, create huge premine, and give it a catchy name.
(2) Create an ANN thread with flashy graphics, exalting the virtues of your coin.
(3) Create a scam signature campaign, promising to pay participants for wearing signatures and spamming social media.
(4) Maintain the signature campaign as long as possible by postponing payment.
(5) Watch resulting price rise, until it starts to level out.
(6) Dump the premine, get BTC for it.
(7) Leave.
Note that the scammer never has to pay a single satoshi.
That's why I'd only invest in well known cryptos like BTC, ETH, MAID, and REP. (1) Copy code from existing coin, tweak parameters, create huge premine, and give it a catchy name.
(2) Create an ANN thread with flashy graphics, exalting the virtues of your coin.
(3) Create a scam signature campaign, promising to pay participants for wearing signatures and spamming social media.
(4) Maintain the signature campaign as long as possible by postponing payment.
(5) Watch resulting price rise, until it starts to level out.
(6) Dump the premine, get BTC for it.
(7) Leave.
Note that the scammer never has to pay a single satoshi.
December 14, 2016, 01:42:52 PM
For a start all coins pump and dump including Bitcoin, Bitcoin once hit above $1000 and crashed to $200. Most shit coins are always pre-mined coins and the developer or the whales holding large volume will create excitement in the market coupled with some troll to gain traders attention once people buy into this the price will be jack up and FOMO will set in then the large coin will be dumped on the market and here comes bagholders because nobody will be interested in the token again
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