Bitcoin Forum

Have you ever been scammed by Pumps /P&D / Pump&Dump?

Have you ever lost money to these channel Admins?
You tried pumps but only losing money?

Most of the Pumps are basically scams in my opinion . Admins running them buy coins at low price and sell it to you, normal members at super high prices.
It's close to impossible to earn money on Pumps...

Any one had a positive experience in P&D ?

Please share your story....

Nope


fortunately, I do not enter these channels and so I did not lose money


I do not use it and I never tried it because I do not like it, but I've already lost money because of these pump and dump, one day I bought an altcoin that had just been pumped, unbelievable that a coin that came to be worth so much money fell shortly afterwards that I bought, and fell so much that I lost all my money. I advise people to stay away from these pump and dump groups


I agree

I dont get involved in the group chats, or paid groups, they are built to rip off someone, if someone is winning there is a losing person on the other side, often losing person being a member of the group which is too late into the pump.

Actualy pumps and dumps are the one we always experience especially it now,therefore in this situation we are always trained into this kind of scenario,otherwise pumps and dumps are part of the circulation of the crypto currency system,so whenever all of us,into this community have experience in pump situation earning a money especially those happen last year,that everything would gain a high earning.

Well actually there is no easy money or easy earning. If it is easy, it is surely a scam.

Correct. But I'd hesitate to call them 'scams' unless organisers deliberately lied about not dumping their bags on participants. I think most people realise how the mechanism works and how organiser makes his profit. Bottom line is, if you risk your hard-earned money to buy shitcoin just because stranger on the internet told you to - then it's on you, don't play a victim when things go bad.

There are some channels who are really into these kinds of crypto value manipulation. In order for you to profit from this you need to be fast and efficient when it comes to timing. This is somewhat risky as well since you won't really know if all of the members are really doing their part. It's very easy to manipulate shitcoins but you can't do that in bitcoin for you need to have billions of dollars for you to make a difference in it's value in the market.

When it comes to worth, it really depends on the legitimacy of the channel that you are in. There are some channels that are composed of whales that could really afford to do pumps and dumps.

I have never subscribe to the idea of pumped project because as the coin are pumped so their are easily dumped leaving to ordinary investors loses on they investment so the best thing to learn in cryptocurrency is not to be too greedy and only investment in projects that have great potential. Pumped coins are always scams.

Not at all...only a few ones are gonna end up with profit when we talk about pump and dump and those are the guys who started it so this is a factor of why I preffer to wait for the coin to grow naturally.

pump and dump is not something that scams you, a person doing pump and dumps and running a channel fooling others is what scams you. in other words you can make profit from pump and dumps as many of us  did last year in the altcoin market when we saw the pumps and bought in. but when you are new to the market and join one of these groups you will lose money because they will dump on you.

After identifying rookie investors, these "pumper" groups will reach out to them with inside information about a coin and that the price will soon start to rise. When the unsuspecting new investor sees this prediction coming true on the charts they buy in with all their assets hoping make 10 or 100 times their money. For a brief instance it looks like they are going to be rich beyond their wildest dreams as the price heads up in a near vertical line but...something is wrong. The price is falling. Before the rookie can react the price plummets below where they bought and bottoms out. In an instant they are transformed from a wide eyed and hopeful investor to nothing more than a bag-holder who roams around aimlessly encouraging people to invest their folly so that they can cash out of their nightmare. But no one will bite, the stink of desperation is too much.

pump and dumps can help you im two major cases. first case, you can make good profit by luck. it is like gambling. you can be lucky to make a lucky choice and earn good money. second case you are a whale and you can manipulate the market by pump and dumps and collect more coins for yourself.

It is possible to profit if the Admin doesn't dupm before the target,  that's the problem with most of those groups -  the Admin  knows that the one who will be losing are actually the group members that following his target advise