Bitcoin Forum

I'm starting to see a lot of threads regarding pump and dump groups in the forums with some links to the Telegram groups associated with them. With all honesty, what do you think about these groups and do you support them?

what you keep seeing is one person who is desperately spamming about his scam on the forum, everywhere to get more victims.
and it is idiotic and too obvious. they just list a couple of altcoins that have already gone up and take credit for their rise.

and as always all these pump groups don't care about other users who join them. as i said they want victims. gullible newbies who are desperate to make some money just because when they asked "how can i earn bitcoin" people told him trading is a way to make lots of it. and when they tried they obviously failed to do so.
and instead of going the hard route of learning, they choose to be a sheep :D

Should move this to service/trading discussion imo, it's not really appropriate to put it in bitcoin discussion.

Anyways, pump and dump groups are extremely shady. The most popular one seems to be pumpmycoin, i believe. Their business model is to take in money from people wanting to become a member, and they give a list of coins that they probably already have held beforehand. People vote on the list, and the most popular one wins. Doesn't matter which one because they've got every single coin on the list already. They promise that they would pump the coin, but if you think about it logically YOU the investor is the one actually pumping, because you're buying in and naturally that drives price up.

So they're taking your membership money + making money off selling their already accumulated coins from the money their members invest. It's all a part of a very elaborate confidence trick.

See this youtube video, it explains everything in more detail: https://www.youtube.com/watch?v=2T-I9zZT8U8

i dont really think much about them but you can make a bit of money off them if you sell a bit early.. Once a coin is shilled they will be ready to dump :P

i didnt trust all of them evene though they provide solid explanation and image of profit its still looks shady and fishy , i dont know .. on facebook every single pump and dump group its handle by indian guy , i got bad experience with indian guy on thebot forum i got scammed by indian thats why i dont trust every pump and dump group ever

I'm not sure there was any Bitcoin "pump" group, but not really sure where this thread should be placed either.

My only concern is that they seem to be spamming the forum lately, just to publicize themselves, and in the wrong sections, which is ridiculous. As far as their operation goes I really don't care.

Think about it, Would you pump a shitcoin for somebody else? If your answer is yes, then you should definitely dig it further. If your answer is "no" and you find it very stupid then you should stop here.

I think many of those groups are scam. They may pump a shitcoin enough to attract other people outside of their group and when they have enough people buying, their pump group will insta-convert into a dump group.

Aaaand, no. You don't belong to their group. You are an outsider.  8)

I've came across pump-dump groups on online game markets in the past. While I'm not sure, I think it has the same methods and goals.

You may think you can make big profits, it's kinda unlikely, unless you can outsmart the system. The person who makes the most profit is the one who calls when to buy or sell whatever cryptocurrency, as he makes the first transactions.

Ex. Caller says "buy EOS". The price of EOS will then rise a bit depending on how many members the group has. But before the caller makes that call, he buys EOS first so he gets EOS on lower prices. Same concept when the caller calls the sells.

No,we should not support them.They already buy some altcoins and just need us to pump their coins more.If we trust them and buy those coins,then we would have to face loss as we don't know clearly when those coins would be dumped.Those groups have to be avoided.

Yeah, those pump and dump groups make money front-running their own members. That is in addition to the membership fees. I think they are scum.

I just ignore them and if I reply to a thread like that, it would be to deter people from joining.
Especially if they charge you membership fees to be able to join.

I'm also not fan of what they're doing, I don't think it's very good for altcoins to get pumped like that without any real reason. It really screw up the market and it tricks people into buying something that's not worth it.

They are all scams! Most operate schemes similar to the forex trading signals scams where you pay a monthly fee to receive trading signals. These pump and dump groups will in due time ask for a fee in order to receive updates of the coin that they'll be pumping next, which is all a fallacy!

we have a saying in my language (a bit silly when translated to English but here it goes):
"A cat doesn't catch a mouse for God!"

and whenever i see a pump group this expression is the only thing i can think of. because they are not starting a group to help newbies make profit. they are doing it so they can make profit.

If you are really dumb enough then you will definitely fall into the trap on which you would buy a certain coin and been left by those groups because they did already secure their profits when you are still buying that coin which is really a disaster thats why i dont really trust pump groups because you would really act as a dummy and just been used for their purpose.

Pump and dump groups are not only "bad" because there are more people that lose money than those that benefit from them.

They are also "bad for the Bitcoin ecosystem" because they are driving up volatility in an exaggerated way - and so make Bitcoin more useless for everyday transactions.

It would be much better if people, instead of joining "pump and dump" groups, joined "rebalancing groups". These are trading groups that adopt the "contrarian" trading model. They sell when Bitcoin is overheating and buy when most people are panicking - so they are doing the same or even more profits than PoD groups, but instead of exaggerating volatility they help to reduce it.

Here is a recent initiative (https://bitcointalk.org/index.php?topic=1926978.20;topicseen) with some theory behind it, for such a "rebalancing group".

Not worth the money and time in my opinion, it's only to manipulate the people joining it, so they are helping them instead to getting something with it

i don't think you can really have a group for pump and dump in bitcoin. and as the market grows bigger it becomes harder to make such groups.
all these pump and dump groups so far have been working with altcoins only and most of them are only exclusive to what we call "shitcoins" the altcoins that are too small and dead with no volume. it is because the smaller the market is the easier it becomes to manipulate it.

People don't realize what the actual scam is though, the people they 'recruit' are the ones being scammed. By the time the new members dump they're last to know and stuck holding the bag of shit.

The worst part of pump and dump groups is that they are taking advantage of newbies. Instead of helping them with knowledge, they take advantage off them by making money off them. I just hope that the newbies won't quit crypto just because they got tricked into joining such schemes, especially the ones that asks for money for joining. It's just sick.

i don't really concern about these groups even more likely to avoid them because i don't really sure about their reputations and my friend had bad experience that he has joined the groups such as this and decide to buy the particular altcoin because they says it will pump after days but unfortunately it was never happened and my friend has been lost his money so after seeing this incident i personally decide to not believe them

This are all ways of scamming users, if a group or person want to pump or dump a coin how will he inform you, even if they inform first they will buy it in low and after that they will inform so that on high note they can sell it. Their is no real pump and dump group online.

I think pump and dumps are a scam. Probably the bigger members who have the most coin will be a secret of what they are doig, then they tell the noobies what to buy, but the secret is they already are selling it to noobies and price is alreaady up.

I think these threads should be closed. Pump and dumps are illegal and just because it is difficult to enforce in crypto doesn't mean it is suddenly ok to take part in it.

Maybe people will learn their lessons at one point after they realize it is usually the group owner that really makes the big profits.

Yes! Agreed. Pump--and-dumps have gotten out of control and are a toxic presence in the crypto community.

Is it really possible to manipulate the markets like they advertise,you need a good amount of money to do that,may be they could manipulate the low volume coins,other than that it could not work in the high volume coins,i am not a member of any of these groups so i am not sure how they work.

I have said it already before that and I repeat it again that all these pump and dump groups are scam and hence waste of time and money. The people who create such groups are the ones who gain and make good money out of these groups others only lose. It is made to believe that the creators of such groups are trading experts and have a great experience in trading but the fact is they are just scammers. If we love bitcoin and if we love the concept of cryptocurrency then we should not only avoid such groups but also help our fellow members and advise them not to become a part of such groups.

Most pump groups are just a way to suck money out of people. Especially groups that require a subscription fee to join fall into this category.
You pay the fee and the founder of the group has some free cash to invest, then he gives you a fake call, group members buy and he sells into their pump = easy money, easy life. Conclusion? Stay away from pump groups, unless you personally know the founders and know you can trust them.

It seems I am beginning to understand what this is all about. I recently joined one on telegram though I have no idea what it was all about really but was just curious as to what it could be. So there is no possibility of someone not getting nabbed at the end by the leader of the so called groups. Not like they are helping anyone, they are mainly helping themselves by leading some of us who are gullible into a hot fire! I'm running away! I wish I have some trading skills, won't be bothering myself with all these shits.

They're tiddlers and stupid ones at that. I observed one highly touted pump. It went up 20% on a volume of about 0.1 BTC. And they wouldn't have been able to get any profit out without crashing again anyway.

The real pumpers won't tell you a fucking thing in advance.

They're just making some pump and dump to make their money grow ofcourse how they can earn money if they don't have some action to do with it they're also a plenty groups who actually to manage the dumping as well. Maybe these are supporters nor enemy of one coin but to have an profit.

I am not giving attention to this Pump-dump groups.  I believe the one who created this group is just exploiting those people who will join this group and eventually rob them of their Bitcoin just what Wolong did with his own pump dump group.  Aside from that this is quite hard to sustain since there is always someone who wants to take advantage of another member of the group .

Actually i have joined with a group on telegram and this is free, so the group is created by someone who best in trading, he shared tips and trick and everything what he's doing on market, he's giving us a signal what coin would be pump or dump, well i think it's not a big deal if i join the group, clearly he doesn't charge us. I personally would not join the group that requires a subscription fee to joining the group, like people said above mostly they are scam, even though there are some of them are real but usually they charge higher cost.

Yes, there are thread promoting pump and dumb group,  I think the group will not effect enough in price of big coin with high market cap. They may targeting unpopular coins with low marketcap. WHen they join together to pump or dump a coin will have effect. I don't know how they work? anyone ever join the group, Do thay have a comander like an army who want to attack the enemy? That's some kind of joke I think.

It's true that small altcoins are fertile territory for pump-and-dump groups. But I'm sure they also exist on Bitcoin exchanges. So, for example, these 200-300$ up/down swings with no real fundamental news related to them (but often, related to FUD or ultra-bullish forum posts/media articles like these that claim a 50.000 or 100.000$ Bitcoin price in less than a year ;D) very probably are caused by these groups operating.

I'm not really interested with pump and dump group, this kind of group only use newbie member / slow member to generating profit for them. When newbie member / slow member put buy support and they will dump their coin. If they wanna pump a coin they will mention all member, but if they will dump they wont mention all member. it just a trap for newbie

No i don't want support them because even i joint with them, doesn't mean will getting good profit with them
 i traded with my strategy that be suitable with my style of trading,
i will follow the trend of price and never follow the group of pump-dump because they can not control the trend of price
 the basic way of trading always follow the trend.

i remember there was a big one on bitcointalk called ryanpumper, he at least gave some good information in the start and then things went south. and the funny part about it was everyone kept saying he has lots of alts in his topic who are defending him but not everyone believed. and finally theymos caught him and said he had more than a couple dozen alts (maybe 100 i can't remember it was 2 years ago) and banned all.

This is the truth that currently many people are going in the pumping and dumping . To make their network big they have started the telegram app network ( which is like the WhatsApp ) ,they are making lot of numbers of the people and giving information hourly to buy and sell the coins at the particular exchange but they are not responsible for any type of the loss .
Here I myself joined the group yesterday and they told me to make day trading but I get loss of 4$ in one day due Thier signal of trading which was actually the pumping group not the trading signal group .
Many of the people are making money with the pump of coin but here I don't this is honest way of earnings , more better is that analyse the history and data of the coin and make predictions and don't join any type of telegram fake trading signle group or pump dump group .

I have been trading since 2013. Let me tell you, there is no such thing as a pump-and-dump group where everyone makes money. In fact, most members of pump & dump groups LOSE money in the long run. Why? Simply because the founder only cares about himself. The leader of the group does not care if anyone else makes money except for him.

He will tell you when to buy, but at the same time you are buying - he is selling and taking your money! That is how it really works.

Frankly I don't support them. It's a bunch of people pooling funds together to artificially increase the price of an alt coin, which in turn tricks others to invest, just to then sell their coins to make a profit. IMO its greedy, deceitful, and the people who join these things are assholes. I wouldn't be surprised if most of the time the leaders of these kind of group have ulterior motives and plan to screw the group members themselves.

I don't interesting about pump-dump groups, they will not gives maximal profit for me because in trading
the groups of pump-dump is not part of strategy of trading,
the groups will not gives sign when the price will goes up and down, i am sure they will do pump or down
depend on the analisys technical or fundamental that be made by them.

Actually these are the groups made by the many bitcoin and altcoins traders .
Usually they are active in the telegram and having a channel for the broadcast of Thier information of buy sell .
Usually they want attack at the particular coin to buy in bulk and due to these impact the many people starts buy and finally they can make much money .
But I don't like such things because this is totally like the scam or we can say that misleading thing for many newbie traders , because they are making money by making stupid to many simple people .
Well here I already existed from every telegram group and broadcast channel because I also get loss much due Thier misleading signals to buy sell the coins .

they don't give you ANY profit not maximal!
and they are not even traders, they are scammers who are looking for a way to make more money and from what i have seen so far none of them have any information about trading, specially not technical and fundamental analysis.
they just pick a coin randomely based on its volume and then buy, after that they tell the group to buy their sell orders and dump on the group.

Exactly! In today’s world, everyone is after hunting and for hunting they need a victim, that’s what exactly these pump groups are doing. They entangle newcomers with their superb offers. Only greedy and foolish people fall for them. Trading needs patience.

I don't care about these pump-dump groups, and I'm trying to avoid these groups. I don't think that they can bring profit to me, I'm really sceptical about it.
For me it it reminds sports tipsters a bit, who are selling bets. But good tipsters can bring us really nice profit, not sure that these groups can do that.

hey, check out this pump group: https://t.me/pumphodlprofit …they are trying to pump some quality coins and encourage everyone to hold on to some for the long term…pump now, moon later!

they suck and people generally have caught on to how they operate

hey, check out this pump group: https://t.me/pumphodlprofit …they are trying to pump some quality coins and encourage everyone to hold on to some for the long term…pump now, moon later!

dont join pump and dump groups it is of no use u will loose money in short term

They are scams. The leaders of the PnD groups have already bought large amounts of the coin in question before they tell their group to start buying. As soon as the price starts to spike from people buying, the leaders dump their large holdings and it crashes again, leaving most members of the group other than a lucky few bag holding some shitcoin.

Since people that join them are trying to manipulate the market to scam other people out of their coins, I have no sympathy for anyone who has been burned by one.