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Topic: What is VOYA coin and why this rising? (Read 737 times)

sr. member
Activity: 399
Merit: 257
July 26, 2016, 05:37:57 AM
#5
So, is it possible, when some team is pumping their worthless coin, to make some profit selling it at a big price?

That's a little hard to answer. Certainly, it's possible, inasmuch that you can make a profit buying any random coin and selling it for a much higher price. However, compared to a regular random coin trade, the risk is completely dependent on at which point during the pump and dump process you entered in. If you buy in during the initial pump, then you have a good chance of making a tidy profit, assuming that the pump and dump successfully lures in other unsuspecting buyers. If you buy in during the dumping period -- when the pumpers are now getting back their investment by dumping their stash back onto the market -- then you'll be funding the profit margin of those who bought in earlier instead. Very rarely, the price will continue to rise even when the whales and pumpers have started dumping because the late buyers are unable to read the trend of the coin. However, as you can only sell your coin for however much another trader is willing to buy them for, it's not like you can just put up a coin with some ridiculous price tag and expect it to get sold. Even with a profitable tailing of a pump, you will only be able to sell your coins at a price equal to or lower than the price which the dumpers decide to cash out on.

Having said all that, I don't recommend trying to tail a pump and dump for profit. Ethically speaking, you would be enabling the dumpers to keep cheating other traders in exchange for a very small piece of the pie. Financially, it's a riskier gamble than buying a coin after doing your due diligence.
legendary
Activity: 3234
Merit: 2112
I stand with Ukraine.
July 26, 2016, 04:05:01 AM
#4
Guys, thanks for the answers! I'm totally new to this trading thing but I'm considering to go in deeper into it.

So, is it possible, when some team is pumping their worthless coin, to make some profit selling it at a big price? Has anyone had this experience?
sr. member
Activity: 399
Merit: 257
July 25, 2016, 06:07:00 PM
#3
It is not "rising in price". Someone is pumping it to dump it for a profit later on. As far as I know, Yob*t is the only exchange that is hosting that coin, and the charts clearly indicate that someone pumped the coin by buying a huge volume for about 11x its market price. That coin has not had any development for over a year, so it can be considered a "dead coin" for all reasonable intents and purposes. It is not unusual for dead coins to be chosen for pumping and dumping by P&D teams. It's an especially common occurrence in that exchange. I don't recommend paying the pump any attention. A pump that steep can only end badly.
hero member
Activity: 700
Merit: 520
July 25, 2016, 05:19:13 PM
#2
I mean 700% rising in price in the last 24 hrs. Can anybody cast light on the subject?

Some coins have monthly volume of 17$

If u spend same amount that u spend for some food that kind of the coin goes up 1000% and moar

~CfA~
legendary
Activity: 3234
Merit: 2112
I stand with Ukraine.
July 25, 2016, 02:52:19 PM
#1
I mean 700% rising in price in the last 24 hrs. Can anybody cast light on the subject?
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