Topic: The "When Moon and Dump" Story (Read 189 times)

Lol
It's very hard for a cryptocurrency project to thrive in this bear market,as it's very hard for the managers to promote the project and attract more investors to pump money into the project.
There has been a reduction in the number of projects in recent months for this very reason,it has made making money from such means increasingly difficult,and that's even for the scammers

The good side of bear market is that there is less people willing to enthusiastically participate in exit scams like this

Most of my bounty tokens ended up similarly (not a scam but price fell drastically).

Well said. Hype is first reason why ICOs can't continue their roadmap in bear market. Common psychology behind dump is to take advantage of cheap tokens which will be sold in market. Dump happens for a good reason and teams don't have any control to intervene in order prevent sell orders on price book.

The moon story caused a lot of troubles in the crypto currency space
Because it made lots of people wait for a better value and nothing happened sadly

This is a reality that is happening now since 6-8 months ago when the first time Bitcoin continued to fall. the ico team always gives encouragement that the token will go up to the moon, but in fact, the listing to the exchanger just isn't successful. I think we have to sleep longer

Op story would be funny if not seen it too many times in past few years for real.

Because of scammers like the fiction characters in OP, I'm trying to invest only in ICO project with pre-ICO made MVP. While it's not a guarantee for success, at least you can see that the Developer team is doing a real stuff.

His story is not new, it is the story of most investors of several ICOs in 2017. People always believe that the tokens they invest will always increase, it's similar to Bitcoin. And I'm also a blind person who believes that Bitcoin will rise after falling, it's a mistake

  A very sad story. In such a situation, the fact is that there are absolutely everything. There are very many really good and promising projects that cannot assemble soft cap. Hence the consequences.

that story is not just about ICOs but about majority of the projects that you see among altcoins.  the only difference is that the ICO scammers take the money before hand and become rich then also dump their own tokens and become more rich. while altcoin creators have to wait for the listing to dump the coins they premined or pump it to make some money.
that is why things like ICO, STO,... are becoming popular among scammers.

in the end when something is useless, it won't gain any value in the long run. all you can expect out of them is manipulation and pump and dump profit. so it is best to see them for what they really are instead of being fooled by the advertisement.

LOL, I think there is not one of us who has been in crypto for a long time that hasn't relived the above story to some degree. I always used to stuff up and never sell at ATH any coin I owned, which was so stupid as the FOMO effect was so strong. Now? I don't take those chances anymore and slowly my capital is beginning to increase and my situation, albeit slowly is now improving a bit. Whenever a coin reaches an all-time high, that's the time to sell, then you can buy back when it does an 81% Fib retracement. Yeap I learned this the hard way when I lost 95% of my portfolio last year. I did the great HODL and stuffed up royally, but mistakes are for us humans to learn from and then to try to improve and do better.

Nice story ,newbies that only knows to invest blindly in projects will learn ,thanks once again ,if any project promises 'moon' please don't bother to invest in them ,a good working project doesn't have to be worried about mooning ,they stay focused on there roadmap and always do better research on the teams and make sure they are all real

I think everyone should go through such a story in order to understand all the risks and opportunities and review the strategy of investing in new projects.

That was good story to read. Thank you for pointing out the whole situation. Newbie should do enough research before investing in any ICO. Rating sites are biased too. Investors should only believe himself.

Once upon a time, an investor is looking for a reliable ICO to invest on. He browses on ICOBench and other ICO rating sites to see what's hot and what's not. Of course, as an investor, you may want to invest on something that's hot.

He saw an ICO named Dumpchain with an impressive 4.6 out of 5 rating, checking the website and so on. He was convinced and he immediately joined....

The ICO price was set at $0.80. The investor bought 10,000 Dumpchain tokens. The ICO campaign will last for 3 months, until....

Admin: We would like to thank all of you for participating in our ICO. The good news is that we have reached hard cap in just less than 2 months, so we're way ahead of our schedule! Your tokens will be distributed within 10 days straight to your Ether Wallet. No KYC needed! Congratulations!
Investor: Hurray! I can feel that Dumpchain will fly to the moon!

After 10 days....

Admin: As promised, all of the tokens are distributed to the participants. You can check our Etherscan here (etherscan link). If we didn't distribute your token yet, kindly send us an email for verifying your purchase. Thank you.
Investor: I already received my tokens. Now let's wait for them to hit the exchanges.

After 5 days....

Admin: Good news to all! We have reached out to Rekt Exchange about listing our token to them and they're willing to list it on Friday at 22:00 GMT. Once they have announced, you can start trading DUMP tokens.
Investor: Oh God this is it!!! To the moon! To the moon!

After a week (Friday 22:00 GMT)....

Rekt exchange announced on their social media that DUMP/BTC and DUMP/ETH pairings are now activated. Admin retweeted their post after 5 minutes. The investor decides to #HODL all of his DUMP tokens until the price reaches $2 per token.

After a week....

Admin: We would like to announce that our DUMP token is now listed on CoinMarketCap!
Investor was so excited and he checked the price immediately. Remember that the ICO price was $0.80, and it slightly goes up to $0.90. He decides to keep #HODLing.

After a week....

In their official Telegram group, many investors started to panic a little bit. Due to the bear market, the price go down to $0.75 from $0.90.
Investor: Admin, when moon? The price goes down a bit.
Admin: For sure, we will moon once our MVP goes live in action! We are committed to finish it on the day it was mentioned in our roadmap. It's good that you keep holding your tokens.

The investor keeps his faith on Dumpchain and sticks to holding. Price stabilized between $0.72 to $0.77.

After a month....

Investor: Admin, when moon? Price got down again.
Admin: Have patience my friend. We are now close to finish our product. I can tell you that when our product is up and running, our price goes higher.

The investor was so excited that the MVP will be finished soon. However, the price is stabilizing between $0.65 to $0.69.

After 3 months....

Investor: Admin, when moon? I just don't know when the dump will end.
Admin (announces on Telegram group): We are almost there guys. However, we are contacted by SEC that we should pause our MVP launch due to licensing issues. We cannot give you a timeframe if SEC would give us the green light to fully launch our MVP.

After the announcement, the price goes down to $0.58 and for many months, it just stabilized to $0.54 to $0.61. However, the investor still holds on to his faith and decides not to trade.

After 6 months, investor messaged the entire Telegram group and said....

Investor: When dump?
Few minutes after that question, price instantly dropped from $0.53 to $0.06 in the Rekt exchange. It was revealed that the admin himself was a dumping whale, and there was no actual MVP made.
Admin: There you go! I dumped all of my tokens. (He leaves Telegram group and never be seen again)

With great disbelief, panic sellers start pulling the price down until all buying orders are empty. In the next few months, no new investors are willing to buy DUMP tokens anymore and trading volume was zero in the Rekt exchange.

Investor leaves the Telegram group and cried all day long.

The end.