How do Bumping & Dumping work?

[crim3s]

I've heard of organized groups of people that sums great capital together, they choose a coin, then invest on it (bump) ten just wait for the price to rise, like even get a x2, and then (dump) it.

Is it really a good and organized way to make profit from small coins? Is it really that simple?

[crim3s]

> they will tell ppl in their pump&dump group to start accumulating in order to dump on those fools

Why would they tell other people to accumulate the coin once it has moon?

What you mean with dump 'on them' ?

[cryptoharnanto]

is there pump and dump group in telegram ? it can be very profitable

[odolvlobo]

I've heard of organized groups of people that sums great capital together, they choose a coin, then invest on it (bump) ten just wait for the price to rise, like even get a x2, and then (dump) it.
Is it really a good and organized way to make profit from small coins? Is it really that simple?

It's called "pump-and-dump". Here is the wikipedia article: https://en.wikipedia.org/wiki/Pump_and_dump

In the "pump group" scam, which you are describing,

1. The scammer convinces a bunch of people to join his "pump group", promising big profits from organized buying and selling.
2. The scammer buys a large amount of a particular coin.
3. The scammer then tells the group to start buying that coin at a certain time. This is the "pump".
4. The members start buying and the price shoots up as they buy. The scammer sells his coins at the inflated prices. This is the "dump".
6. When members stop buying and start selling, the price crashes and they are left with worthless coins.

[mela65]

Lots of pump group is benefit only for group owners. First of all, they buy the coin from low price, after that, they announce the coin and victims start to buy it, within this period the price go up and they sell it