"Why altcoin pump and dump? | Bitcointalksearch.org

Spoetnik

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Actually it's obvious for profit but..
Let's not forget the various angles of it all..

A rich guy can pump a coin and there will of course be older users with "cheap coins"
waiting for a pumper to come along and inject cash into the coin markets.
That will then be their green light to DUMP ON THE COIN PUMPER !

It's all a predatory little game of preying on someone before you get preyed on.
It's not only the Pumper that is the evil doer..
The vultures are in all positions in the system capitalizing from different areas.

If i bought BTC at $1,000 a coin.. then it gets suddenly and swiftly pumped to $1,500
I would almost certainly dump on the pumper and his tag-alongs..
Then i would simply wait a while for the price to tank and buy my coins back cheap.
I know that works because i have done it lots.

Oh and..
I thought of this because i know of some coin guys who have been here since 2012 waiting.. still Cheesy

Snail2

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Quote from: kevinjulio on January 05, 2016, 08:12:14 AM

what is the reason of coin owner pump and dump he coin ?

Simple greed. The coin owner/dev pre or instamines (or they can even buy a lot while it's cheap) a lot of coins, then pumps the price and when there are enough interested noobs they can dump it with a good profit. Some ICO coins are a more advanced method for achieving the same goal with less investments (using ICO money for pumping).

Spoetnik

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Quote from: kevinjulio on January 05, 2016, 08:12:14 AM

what is the reason of coin owner pump and dump he coin ?

Because they know it pisses me off and gets a rise out of me. Angry

Daffadile

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Some coin developers are scammers, they created a coin, pump the coin price to high levels to attract buyers. Then they dump their coins.

SockPuppetAccount

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Another factor is that there are too many altcoins and not nearly enough genuine investment in altcoins to support them all. Virtually all altcoins do nothing but trend towards 0 if players behind the scenes aren't manipulating prices and propping up the markets.

siameze

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Quote from: goose20 on January 05, 2016, 10:07:09 AM

Quote from: kevinjulio on January 05, 2016, 08:12:14 AM

what is the reason of coin owner pump and dump he coin ?

You posted this in wrong section - try altcoin subforum.

But to answer your question simply - greed Sad

Pretty much this - greed. Shady coin developers know there are plenty of noobs that will gladly fork over their BTC hoping to profit in a limited window.

This is why in 2016 I am having very, very limited dealings with any altcoin community. So few have any real features or merit. Last year I investigated the UNO and HAM community (amongst others) and found them unstable. It is extremely unlikely that any new coin has any benefits to offer over established coins.

goose20

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Quote from: kevinjulio on January 05, 2016, 08:12:14 AM

what is the reason of coin owner pump and dump he coin ?

You posted this in wrong section - try altcoin subforum.

But to answer your question simply - greed Sad

kevinjulio

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what is the reason of coin owner pump and dump he coin ?

Topic: "Why altcoin pump and dump? (Read 758 times)