Bitcoin Forum

Just wondering at the possibility .... anybody thought of doing this ?

can you elaborate?

You know the usual .. pump coins up and dump them .... we could perhaps do this for mutual benefit .. 'course not the mainstream ones.

You want to form a GROUP, which can pump & dump coin?
alt coins like nxt, ppc, doge....?

Well along those lines .. that was the idea .... your making it sound ridiculous now  ::) lol

pmed

Anybody interested please pm

Bad idea. just wrong.

Not really.

+1

Pump and dump is not a healthy sign in long-run.

Of course it isn't ... but its economics  ;)

Well i hope you know in a pump and dump operation some one always gets hurt.

To gain sometimes you got to take the pain :D ... or do you mean others who are not part of the group might get hurt ?

Its always the person not part of the group.

Not always .. if you don't plan/ do research on what your trying to pump then you become the ones on whom the coin is dumped. Anyways thats how even stock markets work .. don't understand the deal .

PS: Have you watched wolf of wall street ? nice movie .. watch it and then tell me what you think about pump and dump ;)

And what you are saying about pump and dump in the Stock market, is considered illegal, and would certainly land you a lot of jail time. (Stock market, being regulated by SEBI)
However as most Exchanges regarding crypto-currencies,  are not regulated the pump and drop becomes hard to police. but is still wrong.

Here a person not  part of the pump and dump group  has no information on when a  dump is  going to happen or when a pump will happen. Effectively ruling out your theory on research.

In short pump and dump is  ethically and morally wrong.

would you murder someone in cold blood for money??
wreak there life and rape there wife??

if not dont do a pump and dump....
cause thats what you are doing to familys. raping them.

Oh boy .. what flavour of crazy coffee did you have today ? ... i don't even know how raping came into the picture here ... for anybody investing in crypto and alt coins its always a risk involved and they know it .. its not like i'll be the one "raping" them .. its a free market ... everybody is "raping" each other .. thats what most of capitalism is all about.

I'm sure you have lost money while trading too .. so would you consider that the market as a whole "raped" everybody ? with everybody involved ever so little in each stake.

How do you think people hold up prices of any stock ? would that too be considered "unethical" ? seriously if your trading then you got to work "with the market" and if some of us would have gotten together and traded according to a plan then most of us would benefit (call it a pump and dump or whatever).

Most alt coins function the same way , whether you like it or not.

Is this even legal?

There should be a way to prevent this...

Ok I don't know what the word pump and dump means to you but when I said it it means this :

Prices of a coin do oscillate between certain values ... so when pumping a coin you take it to near its higher values and then when the demand starts forming you slowly start unloading (dumping phase depending upon the rate at which you start selling you can call it a dump/unloading). So as a team you just take advantage of that.

I don't know why legality and morality has come into the picture here ... isn't most of the trading with stocks a zero sum game anyways ?

pump and dump Needs Lot's of BTC 8)    ,

Its doable.

Wasnt there a guy on twitter who announced his pump and dump operations publicly using craptsy site. Then he went private charging 0.5 BTC for being in his group.
That is to say, pump and dump is doable but harder to pull off without concentrated effort. And you can always run into issues when people with lots of the coins being pumped notice and create a sell/buy wall, breaking the pump/dump.

Yep there have been quite a few who have done this (infact I knew of one guy charging as much as 120 BTC for being in his group .. sounds ridiculous right ? ) ... thats why I was thinking .... sure it will require concentrated effort .. after all real money (BTC) involved here  ;) ... all depends on the planning and how you go about it .

Nvm guys ... got something I was looking for .. ignore the thread.