No this scam is not losing their money in fees, because in amongst the 30+ bitcoin in fake hand-to-hand bot trades will be some newbies actually believing the lies promoted by the scammers and buying some of those coins thinking it will 'moon' and make them rich. The coins they are buying will be coming from the people operating the trading bots. The trading bots keep the coin price artificially high so that they can offload their bags to newbie buyers at the highest price possible.

As well as simply being able to fake daily volume and trading activity, in order to con people into believing it is a legit coin, the scammers routinely will attempt to profit from faking a sudden surge in interest off the back of false 'industry interest' posts and talk of how the switch to PoS will result in an increase in price, with plenty of sock-puppet posts pretending to be users voicing their excitement at such 'news'.

Invariably the pump is short-lived, with any price increase on the market allowing them to offload more SIGT in return for BTC and, when the price drops back down, they can choose where to set the 'bottom' for their bots and, in some cases, will buy some more SIGT at the lower price with the intention of selling them off again on the next fake pump.

When the 'dev team' controls what you 'know' about this coin and what you believe it to be, they can keep this charade going for as long as they want until, eventually, as *will* happen, the newbies stop buying their constant lies and hype and start trying to sell off their own coins, causing a final crash in the price as the scammers switch the bots off and exit out of the market through dumping whatever they can on to it.

Then they will move on to hyping another 'innovative' clonecoin under new forum accounts and repeat the whole thing again.


That is the scam. That is what pump-and-dump means.

Wow. Just. Wow.

That is a stunning display of ignorance. Truly stunning.

If A sells 1BTC worth of SIGT to B and then B sells those 1BTC worth of SIGT to A then the trading 'volume' will show two trades with a total value of 2BTC.

I don't think I can make this any simpler to understand.

Now why would you lie so clumsily by posting something instantly refuted merely by clicking on it?


It is almost as if you are desperately trying to discredit me to an unthinking audience in the absence of any objective reasoning or evidence.

Whereas I, however, have clearly explained the objective reasoning and evidence of pump-posts, false 'hype' and fake trading volume demonstrating that this coin project is just another clonecoin pump-and-dump scam being perpetrated against FOMO-suffering newbies by multiple sock-puppet accounts controlled by the scammers.

See, there's the difference between our argument positions.

BTW, to all concerned about the trading value of this coin:

You fail to understand what trading 'volume' actually is. If these were legitimate trades being made between multiple interested parties, resulting in 30+BTC of volume each day, then that would mean there was sufficient liquidity to cover most instances of large sells without crashing the market.

This trading, however, being only hand-to-hand bot trading, means that 30+BTC of 'volume' is not actually volume at all. For example, if a bot holds only, say, two bitcoin and uses that through the day to make multiple small trades back and forth between two bot-controlled accounts, the 'volume' would reflect the total amount of bitcoin 'traded' (30+BTC), but that would not equate to liquidity, it would merely be those 2 bitcoin being passed from one bot to another and back again in small amounts. This means there is very little liquidity on the market.

The rage posts in response to these facts being raised are predominantly from the scammer sock-puppet accounts themselves, couple with the odd newbie fanbois who simply doesn't want to accept that he's being scammed. But the facts speak for themselves. All through this thread are multiple posts constantly making reference to how major cryptocurrency whales are interested in this coin, yet it lacks absolutely ANYTHING of note whatsoever in tech or commercial value.

So for all this accusations of these facts being nothing but FUD and me wanting to buycheapcoinznomnomnom, it is simply the scammers repeating the same tired old tactics of using fallacies and lies to keep fooling you out of your bitcoin.

As I already pointed out, it is a mere 100-day PoW, it didn't need a new hashing algo with 'ASIC resistance', that's only relevant for pure PoW coins.

So this coin has nothing of note going for it whatsoever and plenty of highly-questionably behaviour by its 'dev team' in how they are promoting it as 'innovative' to crypto newbies who don't know any better.

'Marketplace' and 'Webwallet' are simply white-label code packs you can buy cheaply and stick your own logo on. They haven't 'developed' anything. You are all being conned and this bullshit 'masternodes' talk for when it switches to PoS is just another way to get you to buy and hold this useless coin while they offload what they already mined and manipulated through the fake trading volume.

BTW, pointing out that the majority of altcoins are just as bad is no excuse for this clonecoin scam and, likewise, complaining that I'm not exposing them right now is not a rebuttal either.

Evidence of the type of sock-puppet shill accounts used by the scammers all through this thread to hype and pump the coin. This one was only used for 12 hours yet made a series of posts encouraging people to buy the coin in the belief it was about to moon. Typical pump-and-dump market manipulation scam tactic.

It wouldn't surprise me either. Many of the shill accounts on that thread have similar 'tastes' in clonecoins it seems. Although some of their sock-puppetry is a bit lazy, take a look at this account created solely to create a raft of pump posts in a period of only 12 hours:

Yeah I might do that at some point but at this time I'm trying to get a feel for which accounts are definitely sock-puppets and which are just gullible newbie fanbois suffering from 'sunk-cost' fallacy. So I tend to tag a bunch I have good reason to suspect are the scammer accounts and then can usually gauge from the subsequent behaviour whether they are.

It is clear that Signatum is merely their current scam-of-choice, as there are obvious connections to some other clonecoin scams they are involved in, such as 'Virta Unique Coin' and 'Altcommunity', which appear to have been left on hold while they play this one out for all they can get.

I'm also seeing suggestions of involvement with something called 'chaincoin' and a couple of others but, frankly, there are so many that at some point you just have to accept the limitations of what can actually be done to stop it and focus mostly on alerting newbies to the facts. I do remember during 2015 when a plethora of ridiculously-named coins were coming out, like 'Gorilla Bucks' with ticker names like 'NANAS', and thinking at the time that the scammers were simply taking the piss at that point and weren't even bothering to create credible-sounding projects.

IKR? Someone pulled me in to a thread to take a look at one of these recent clonecoin scams and it has all the usual routines of talking up some vague hand-wavy 'innovative' tech and a plethora of aggressive sock-puppet shill accounts with, of course, 'inside info' of big industry names being totes definitely interested in investing in it Soon™ so buynownomnomnom, coupled with an absurdly-obvious faked trading volume to 'prove' just how legit a project it is.

I hadn't been keeping up with clonecoins, what with ICOs being the new go-to for "here's your worthless token, thanks for all the bitcoin and ether!" scams, but newbies are still lapping that old-school copy-pasta shit up!

Another Garza-esque large-scale scam popping up in a rinse-and-repeat wouldn't surprise me at all.

FOMO is one hell of a drug.

LMAO, yeah do please keep posting references to ponzi scams which were started up in my name by butt-hurt scammers. Maybe the spittle-flecked rage around here being demonstrated by the scammer sock-puppet accounts over their clonecoin fraud being exposed will result in them hunting down whoever is behind those services.

I'll grab my popcorn.

Sure, because a troll provides evidence and reasoning as to why this clonecoin is an obvious scam preying on the gullible and misinformed.

This project, just like 'Virta Unique Coin' and 'Altcommunity' is merely a copy-pasta clonecoin with white-label 'marketplace' and 'webwallet' code with a new logo stuck on it. They are all being run by the same group of scumbags who want to defraud people of their bitcoin through pretending like they are legitimate cryptocurrency projects of substance and scope.

So I negatively rated another account TWICE for posting ponzi threads and it has one in my name, so it must be my account?

Because, as I already pointed out, it is absolutely impossible for anyone other than me to register a domain or social media account with this username, right?

Muppet.

Which part of "the coin market for this coin is being manipulated by the scammers" confuses you?

It is what a pump-and-dump scam is.

Have a look at the OP's trust you muppet.

Naive newbie or scammer account? Because you also appear to be into that other bullshit coin the SIGT scammers promoted on their cryptovore.com website:

Admitting they are pump-and-dump scams is not justification for them.

The rest of your 'facts' are utter bollocks, that is why I didn't bother answering to them.
Doesn't change the fact of the project being a pump-and-dump scam with fake 'industry interest' and fake exchange volume for a coin with zero technical value promoting itself as 'innovative'.

So you admit the trading volume is fake but think that's perfectly fine because...reasons.

It's still fraudulent misrepresentation for financial gain.

It doesn't matter if it is combining 1000 algos together, 'ASIC resistance' in a 'new algo combination' for a 100-day PoW is irrelevant when there are already plenty of algorithms available to use for which ASICs do not exist. There is NO VALUE to this 'feature'. What is so hard to understand?


The devs mined the shit out of this coin and set about creating fake volume and fake forum posts pretending there was real industry interest in this coin. That is the scam, selling their bags of shitcoin for bitcoin! Nobody with half a brain in this industry would consider this 'innovative' coin to have any innovation of value whatsoever, they are lying to you!

FFS man, do some research! Every other clone-a-coin scam buys white-label marketplace and web-wallet code that they simply stick their logo on! It costs next to nothing to do and is not evidence of utility in any way whatsoever. As for 'masternodes', they are simply another way for the market-manipulating 'devs' to con you all into buying coins from them, or hodling the ones you have mined instead of selling them, in the hope you'll get a 'masternode' of some future-value for a coin which lacks ANY value.


You are being conned, grow up and accept it.

SMH.

A pump-and-dump is, by definition, a scam predicated on creating fake substance for, and interest in, a project for which there is nothing of value whatsoever in order to sell it to the gullible in exchange for their bitcoins.

No it doesn't, what an utterly arbitrary claim to make and one that clonecoin scammers rely on people to believe so they can keep encouraging them to hodl because...[insert future moon reason here]. All the while they're offloading their shitcoin for bitcoin to any sucker they can con.

Sure, because every time a shitcoin thread is exposed for being the shitcoin the fanbois and shills scream "FUD!!!1!11!!!".

The points I raised are valid and proven, this coin has absolutely nothing of value going for it, yet it has been hyped and promoted with bullshit 'inside info' claims repeatedly posted throughout its thread and has an artificially high trading volume.

This is all so very old as far as cryptocurrency scams go. If you can't accept that you are either suffering from serious sunk-cost fallacious reasoning or you're part of the scam.

Apparently one of the 'dev team' for this scam is looking for someone to sell them a bitcointalk account that has to be at least older than the date of when his shitcoin was launched:

Because there's nothing suspicious about what he might want that particular requirement for, right?

I'll give you a hint, it won't be for anything honest.

Update with today's repost of his quest for buying a forum account so he can do something fraudulent with it:

Update with a reference example of the type of sock-puppet shill account operated by the scammers all through this thread to pump the coin:

Who does this scam accusation concern?

The 'SIGT' Signatum coin project.
Updated: The new moderated thread for the scam 'reboot'

Why is it considered a scam?

Because it bears all the usual hallmarks of every other shitcoin pump and dump operation that has gone before, from forum accounts routinely posting false claims of 'insider news' about major industry interest, to insanely high trading volumes on YoBit exchange which are abnormal for a coin lacking in any useful tech or innovation.

It was launched in July off the back of claimed technical innovation:

But the only feature it apparently has is a supposedly 'ASIC resistant' algorithm which, as any person knowledgeable in cryptocurrency would know, is only relevant for coins which are pure Proof-of-Work (PoW) based. This coin, however, has but a 100-day period of PoW before it is due to switch to Proof-of-Stake (PoS), which means the entire basis for its claims towards innovation are utterly irrelevant.

Its 'whitepaper' is devoid of anything of substance, bar for the repeated reference to said 'ASIC resistant' algorithm and is, clearly, merely designed to fool those new to this field into believing it to be a coin with technical and potential value.

In its OP it also attempts to claim that a 'user' (not a 'team member') has written an article on it, in an attempt to imply again industry interest which doesn't exist. That 'user', however, and their website, is simply just another layer of the fraud:

Its ANN thread Is currently being swamped by scammer sock-puppet accounts attempting to bury this information exposing it as an obvious pump-and-dump scam, which of course simply serves to prove it is not a legitimate project.

Avoid at all costs and, more importantly, learn to spot the signs of these scams, they aren't exactly subtle but newbie FOMO and inexperience means that these scumbags are often able to fool many into parting with their bitcoin to buy or mine-and-hold these useless coins.