Bitcoin Forum

like me :-\
https://i.imgur.com/uzOLC57.png
you've been warned ;)

Thanks for the warning, I can understand how it feels. I have lost my 100% capital in my initial phase of trading, it was pump and dump schemes (however, I traded with lower amount) and since then I don’t even trust Satoshi when it comes to investment advice. I believe doing own research is M.U.S.T before investing, especially when it comes to altcoins because one is likely to lose his money if there is no research behind it.

do you watching the market when the pump and dump is happen? i think you missed something in the market so you loss much of money in that coins. i think if you learn with history of the coin, you make your analysis about the price order buy and order sell, you can avoid to get dumps and you still can get profit. i hope you can learn from this lesson so you won't see this bad experience happen again in future and you should be careful when you see there is a dump and pump in the market. don't play with dangerous thing if you don't want to get trouble.

OP should have explained what happened in details and i hope he comes back and does that.

but here is what i have seen from these pump groups:
they advertise themselves as good and profitable, with golden signals and lots of other hyping to seem good. and then ask newbies who are desperate for earning a profit from trading to pay them some join-in fee so they can share the signals and become rich.

now what happens in reality is that the pumpers start buying some dead coin while it is still cheap and after they bought enough of it, they put up some sell orders then they call their newbies and tell them this coin is going up, and those newbies start buying those coins (mostly from those sell orders) and pushing the price up.
and when price is high enough the  pumpers unload, crashing the price. now the newbies are left bag holding what they have bought from the scammer pumpers.

What we  traders should has at the back of our minds is that all those groups including signal providers are all scammers and like mr. Trump called there groups " feck news". In trading there is one thing that will keep you forever in profit! Your trading skills and understanding how the market works. If you depend on your skills, your will traders like professional but if you keep your hope on those pump group I fear for you.

I`ve never heard about a pump group.How does it work?
Is this some kind of HYIP,ponzi scheme?
Never make any financial decisions driven by greed.
I`m sorry that you lost such amounts.

pump groups are the oldest trick the trader scammers are pulling.
there actually used to be a topic created by a guy named ....pumper who used to sell information to others for 0.5BTC as sign up fee. and he was running his thing for a long time on the forum until the global admins found out about him and his hundreds of alt accounts and shut down all of his operations.

in the end it is all scam, and only the owner of the pump group is earning profit.

As I got it, the OP bought some shit coin for 0.082 BTC in total and then sold it a few minutes later only for 0.014 BTC, thereby he lost roughly 90% of his investment (in Bitcoin terms). Apart from that, I don't think there are any pump groups that are deliberately buying some crap coin since they would just incur losses onto themselves

Most likely, the members of such a group are the novice traders you refer to

Pump and dump are always happened in majority of the exchange sites, This depend I think for the pumper of how they're gonna do it. so the next your gonna do it make sure you do it with extreme caution while doing trade in the trading platform. That's life, take it as lesson then move on to the next level.

Which coin was this?!  >:(

when it comes to handling your money and also trading by extension you should have a mind of your own and you plan for your own money on your own.

no offense but joining a pump group means becoming a sheep following other sheeps led by a wolf who is kicking all of them over the cliff to make more money :)

there are pump group but they don't buy they create fake wall i think and let the other buy, not sure how it work in details, but i'm sure that they are not so stupid to lose money when they do a pump, if there was not a pump group how do you explain all the altcoin that went crazy high in few days? it must be because of manipulation and pumpers because coins like that have no real value and usage

I don't really know

Maybe, because this coin gets a lot of hype, and folks are expecting to jump on the bandwagon and not get run over when the train finally derails. Regarding "fake" buy walls, they are not really fake if they appear in the orderbook unless the rogue exchange is behind them, of course (and cancels the order before traders start hitting it). They should be real, and someone holding the coin may well use these walls as an exit point. So it is also risky as hell to build such walls

I always assume there are some insight people (most probably dev team) who are manipulating those altcoin prices still I never think about joining them but I always think about not touching them for my trading purposes.

I'm always very careful while selecting my altcoin pairs to avoid problems from this type of any possible group. Thinking about to stick only with bitcoins because bitcoin alone shows recovery.

I've heard of them before. There was one particularly that replies to every ANN thread of the forum which they tell that the coin is added to their target  and they will pump it next time. Basically they initiate the pump and you guys because are part of the group will also start to buy just to pump it while they are also going to slowly dump what is in their hands. its always a no-no to trust these guys.

Its better to just invest for a long term project not these schemes.

Reminds me of some pdf made by wolong, pumper of dogecoin lol.  in that pdf stated how he orchestrated a pump of dogecoin creating a group of pumpers and at the end of the trade before he exit, he really unload all his dogecoin to his pumper group LOL.

Are you joining in the pump group? but according to the picture if you're trying to buy the shit coin and have a speculation it will get the next pump. and you was falling into the whale's trap.
It's 80% of the loss.

There's still no official pump and dump group on Yobit or in any exchanges,but one groups is forming a community but they have yet to implement their system,because they have not gathered 5000 members,which is one that they are trying to accomplish ..

the only important thing to remember about pump groups is that they are the winners not those who join the group.
and it is not that hard to figure out how they work, you just need to spend some time watching the market movements and their walls. and there are different groups who pump and dump, some of them have been doing it for years and are experienced with lots of money and some of them are newbies wanna be pumpers who have no idea what they are doing.

is this a known project? or just a died one who's been played by the group? I'm sure it is happening in every exchange site, but i'm not yet aware with any particular name or groups who's creating this movements, sorry for your loss mate maybe its just a part of your learning process to avoid same things to happen again.

EBST in Trex ;)

I do not think it is necessary for a group to work under the permission of an exchange to trade with them. Just having an account and forming a team of those account holders will be more than enough to manipulate the prices. I believe usually these group of people will target multiple exchanges at a time to get better benefits.

I have seen many before and also had a close look at one who used to publish about coin that they will pump in twitter.

I will not follow any of them because i know they will just claim there will be pump on coin that they may be holding for many days/weeks and which don't have any volume. They will just pour their bags of shitcoin at your buy orders.

"official" what does that even mean?!!
first of all yobit is too small and they don't let anybody except themselves pump anything and make any profit. so forget about any trading and any possibility on there.
also you may not know this but pump and dump and in short manipulations are not exactly legal in many countries and it is against the law to do it even if it is in an unregulated market such as altcoin markets.
and besides, these are scamming methods not really a good idea to join any of them. but they go unnoticed most of the time since they get newbies only and when they lose they think it is their own fault not because of bad information.

Thanks for the warning sir, I understand what do you mean to say but sometimes you learned your mistake about trading and that will make you to be more careful about your money to invest. Even I read this warning I still use trading because I know there is a right time for you. There are some trader made rich by altcoins because it has a swing movement that no one can control it.

Thats why i dont really believe on those words actually that some people always tell me that a particular coin will pump since there are no guarantee that it will surely pump thats why proper research and really avoid on listening to other people specially that always saying about pumps and dumps.

This reminds me of chat in trollbox. saying "xcoins get ready to be pump (dump)"  lol making unsuspecting reader to buy the coin which is actually buying the coin of the person spreading the troll message  about that xcoin lol.

join pump group only owner/founder pump get much profit
because before annoucement coin to pump, owner/founder is ready buy much coin
after buy is pump, founder/owner open selling too, and you very late, you buy only pending order seling owner, so after you buy not long time coin can down price again

I don't think anyone need to tell you this, that you are going to lose money in the long run, most of these guys that post trading tips or signals would have already bought the suggested tokens and accumulate and you would be buying into their own dump. No free money anywhere, sorry for your loss

It's great to have such posts (not for you, unfortunately). People often talk about trade as if it were the easiest way to make money in the world, that anyone can earn easy and when they enter this world they lose a lot of money. So thank you for sharing your experience.

what people usually forget about pumpers and their groups is that a pump is a fake rise in price and nobody else is really buying the coins to make the price really go up. and also the only way a pumper can make money is if "you" buy his coins otherwise he has bought something that he cant' sell in his favorite price.

I you are saying about the pump group which often come to yobit and start the bot pump then that is really a risky investment if someone will invest while that pump and at that time the best option will be to invest smaller amount because they often buy smallest amount so it will take longer to buy back your coins. The other precaution is that you have to do short term investment like do not wait longer for the price that it will increase more higher.