Bitcoin Forum

I heard there's some *mostly* legitimate pump and dump groups that operate on Yobit. Is there any truth to that and if you've ever been a part of one how was your experience?

Edit For those wondering:

That would be very bad for the whole crypto ecosystem, but I don't doubt such shady activities will occur when a lot of money are involved.

Soon after the online poker boom, good players started conforming cartels, i.e. organizing together in skype groups to coordinate each others' actions. They simply lock a deal that none of the good regulars will sit against another one and everyone of them will get a scheduled time slot when he can sit and wait for a fish to come sit and play against him.

It is a matter of time people get in groups in crypto to get an unfair advantage. The group is always stronger than the individual who plays solo.

Do yourself a favor and just ignore any pump and dump groups.  The only ones that really win out are the ones organizing the pump and dump cause they and their friends buy in before the pump and leave many people within the group hanging.

Using pump,dump groups can bring good amount if you know what you are doing. Traders mainly check small market cap coins to make some crazy movements to trap small traders. Smart traders never fall to this trap and btw whales are watching ;)

its not just about cryptoworld, we have them in forex too, many are big companies, not just some smart kids,

so i think blaming anyone or anything is not ok here

actually its not much hard to get them in time, we need to follow news and separate fake from real one ;)

that will help not being scammed or end up loss

It is true that we have pump and dump group and are being assited by some Youtubers that help promote the tokens they want to pump and dump. I think it is wrong to call them legit because the act of pump and dump is not legit in any form

I agree that these groups are risky and it's obvious that their creators are interested in themselves gaining profit, not some other random people who happen to believe them and seek easy profit. What's more, I don't think it really works a lot, because most of currencies have big marketcap and so it's basically impossible to make a big difference buy buying or selling coins. Perhaps only trading volume can be increased easily this way, but I don't think most of people consider it an important factor. I think it would be a lot more productive to be writing and get published some speculations on some coins going to rise as well as write threads on it on bitcointalk, but this is a rather bad and risky thing to do as well.

You should avoid pump and dump groups.

The only one who benefits froms uch groups is the owner, because he can buy in and build sell walls right before the call.

IMO you should not be part of one.  But you do whatever you would like to with your money, but do not think that you will became a millionaire with some kind of shady hueueuheue herp derp pseudo child group who call themself "pumpers and dumpers" :D

avoid them

Never trust pump-dump groups 100%. Information may be available, but it is best to investigate yourself.

There were a couple pnd groups on discord that i was a part of.. Definitely a bad idea as everyone dumps on each other and the risk of losing big is high. Would recommend against it.

Pump and dump groups are the worst thing that the cryptocurrencie world had, it is incredible because they are just a group trying to earn money, and this is why they put all their funds on a coin hoping to pump the price and then sell, because if there are green numbers on coinmarketcap everybody would feel tempted to buy, and the price will keep going up, and they are always going to be able to sell their coins if they are lucky.
It has been happening for more than years in here, and this is not healthy for bitcoin and to all the altcoins that are on the market.

For those who were wondering, I wasn't actually planning on joining one; I just heard about them and were curious about if they really were there or not and how they were like.

all of these groups. they can not predict how the market will behave.
Consisted paid even expensive or free of charge. And everywhere write. Sorry we are a flash in the pan came out only this time, next time everything will be different. So they always say. and they always give signals to the coin after growth began themselves to purchase hamsters catch up and then sell...

Better to keep and to sell it when the x2 will be... and not to chase these fast pump with the ability to crap

Yes they exist.  They damage the community though, because it causes more fear for investors who might legitimately invest in crypto.

If you choose not to sell now then you will have to wait until its to to reach that higher price value with ever. Times two of the current value os possibe to happen and thats been happening already several months ago this entire year of 2017. Faster pumps gives us hope to decide for holding your coins and nevermind that dumps. Predicting which group might rise of its flag cannot be determined so far, and its best to always make monitor the actual trend over market price value.

Don't imvolve yourself with those. It's stupidly risky

This is exactly what will happen if you are not a big whale and you join these pump and dump groups. Sooner or later, you will be eaten too and will be an additional statistics to their victims. Remember that a pump and dump group will hardly even make a dent to the price movement if they are not composed of large investors. They are now accumulating much more influence by letting other small-time investors and traders join them. But it will always end up against you.

The pump & dump groups are very risky and I think pumping isn't ethical because  you make profit when somebody (especially newbies) lose a lot of money because of this pump.

dont believe anything like pump and dump group. they only pump some altcoin and you cant never know when they pump. they make money by take your money.

they are out there, you can see them on a project that dev doesnt start paying them.

i had seen that dumpers are paying from pocket to kill that project, so other dev will afraid of group and reply their needs

this is not a joke, its sth like policy

you cannot trust anyone in such world

i was able to see a lots of them inside this forum and joined some of the telegram channel, what is good from this group is when you joined earlier since you will have the chance to earn some decent profits just needed to make sure that you are not greedy to follow them with the sell or the buy call always do yourself a favor and just aimed for small profits and avoid big loses.

never trust the pnd groups. if you are looking for high risk/return, then always dyor. the key is not to be greedy and try to set stop loss. most of the time, the dump will be so fast that you might end up holding a heavy bag at the end of the day.

There many, I mean so many pump and dump group
But this is the first time for me to hear such 'legitimate' group :o
No wonder, I often heard such thing regarding yobit :-\

there are tons of pump and dump groups on telegram and they have a lot of members gathered actually. what i do not get is, why are there so many people following these groups and staying in there allthough they must have made bad experience with the signals being called there? i mean you can fall for it once, which human. but after that has happened one should be willing to leave the group immediately. so why are still thounsands of people in these groups listeing to these posts?

Some certainly exist and some are fairly successful, however for the most part (unless they are really professionally run) they are only successful by exploiting members that they recruit. As the theory goes, someone has to buy at their pumped prices for them to profit and obviously these guys will lose out, these guys are normally the people they tell to pump the coin and that it's going to pump a further x percentage.

i heard too that there are some groups in Telegram. The main goal of these groups is to pump and dump coins. I don't know if it is true, but I feel that it is.

"Legitimate" you say? Believe me there are no such thing in pump and dump groups in telegram. The first part is they fool you to buy a coin when it's  already pumping and second is they ask for subscription fee for exclusive signals because they claim they are very effective.

Some groups are serious, but you have to pay to get in

just killed 1 of such groups in etherdelta on a token trade =))

they were pumping to run, but i started reverse orders and killed their plan  ;D

now it seems that dev is back to work an completing his project instead of running away


it costed me 850$  :o :o :o

but it was fun, my advice: Don't try this at home, exchange or any other place  :D

its fun that time, but will hurts after you think twice

Don't listed to other ppl, always do your own research. In my opinion, all these groups are useless. Some are even scammy because they advice you to buy into the dump (of the bag that owners will sell).

They use telegram to gather people, I do not know how they work and what the benefits are.
Even I'm surprised they still believe and want to practice it.
For me trading is the ability of analysis from experience and various information. we are free to do anything and risk our money and all risks.

I would suggest that you stay away from them. I do believed that there's no legitimate pump and dump group. They are very fraudulent for me because want they do is to just pump a coin to their advantage. And if you are not part of the group then you will have no idea when the dump's gonna happened. So you will become part and by chances they dump it and you are sleeping on the other side of the planet. You can find them around  in a trading platform. Not just in Yobit.

/r/TemplumSolomonis on reddit  ???

yes, in the exchange that had the most scams, pump and dump groups are most legitimate XD

No doubts for this. The creators of those scammer pump and dump groups are only wanting to exploit the noob users joinig their channels. They don't want to give you profit, they don't care if you earn money. They want to make their pump&dump games with your help for nothing. It's pitty

this is absolutely right, they just want to use newbies and earn from them and dont care about anything else

because not all of them are losing money. there are many people who use auto buy sell bots which can go out from pump&dump schemes with profit. and some just muted the channel and forgotten probably. in any case, p&d is a dangerous game. here are my humble tips as a frequent pd involver.

1) never enter p&d without a bot program.
2) never put lots of money. small amounts are good.
3) run for smallest profit. %3 %5 at max. huge profit means high chance of loss.
3) you will mostly have 1, 2 min to see the result of pd. don't believe that it is a buy&hodl. it will drop instantly in a minute.
4) never sell at loss because if you wait enough (1 day to 3 months :), the sh*t coin most probably will be pumped again in the future.
5) cycle the tactics if you are successful. if not do not enter p&d game.

i hope it helps.

Definitely not an ethical practice, and like many have said, just a matter of time until you get burned as part of the dump.

Yes there are many manipulator groups that play on Yobit. You can see every day some unknown coin made random over %100 return, which is possible only in small markets. I suggest you to stay away Yobit completely. Risks are too high and market is very unpredictable.

The mere concept of a pump and dump group means they cannot be legitimate, it is a scam, no matter where they operate, they decide beforehand what coin they will tell their members to pump and as such they are going to buy into that coin at good prices and then when they give the signal everyone buys at inflated prices while they sell and get profits.

dont do pnd, dont FOMO. it is like gambling and guessing game. there is no foundation in pnd. some people do make money from it, but it is gambling rather than invest.

My question has been answered and the post quality of this thread is going down. LOCKING