How do pumps and dumps work? (Fontas for example)

[jcharles]

I know what pumps and dumps are but can someone explain to me how they work, in detail please?
This is my understanding:
You put a bunch of money in and create a buy wall in which the sellers dont have enough to fill.
(Does that make the price go up?)
After the price goes up, then you sell.
What if people are not willing to buy all of your coins?
Why would people buy coins when the price is high?
What is a "noob trap", i read that on one of fontas tweets.

[ultimatebob]

I know what pumps and dumps are but can someone explain to me how they work, in detail please?
This is my understanding:
You put a bunch of money in and create a buy wall in which the sellers dont have enough to fill.
(Does that make the price go up?)
After the price goes up, then you sell.
What if people are not willing to buy all of your coins?
Why would people buy coins when the price is high?
What is a "noob trap", i read that on one of fontas tweets.

From my understanding, this is how a Fontas pump REALLY works:

Fontas slowly buys a bunch of cryptocurrency really cheap under different user names.
Then he announces on Twitter that he's going to "pump" the currency. All of his followers on Twitter and BTC-E buy up the coins, causing the value to rise.
On the day of the "pump", Fontas creates a massive buy order slightly over market value called a "wall", and announces that the "pump" is on. People start buying it like crazy, driving up the price quickly. Fontas really isn't doing anything... his minions are doing it for him.
Fontas unloads his holdings at a big profit, and leaves the "noobs" with overpriced crypto currency that is rapidly falling in value. If they panic sell it fast enough, Fontas might buy the currency again for a second wave of pump and dump.

And the noobs fall for it every time. Suckers.

[jcharles]

I know what pumps and dumps are but can someone explain to me how they work, in detail please?
This is my understanding:
You put a bunch of money in and create a buy wall in which the sellers dont have enough to fill.
(Does that make the price go up?)
After the price goes up, then you sell.
What if people are not willing to buy all of your coins?
Why would people buy coins when the price is high?
What is a "noob trap", i read that on one of fontas tweets.

From my understanding, this is how a Fontas pump REALLY works:

Fontas slowly buys a bunch of cryptocurrency really cheap under different user names.
Then he announces on Twitter that he's going to "pump" the currency. All of his followers on Twitter and BTC-E buy up the coins, causing the value to rise.
On the day of the "pump", Fontas creates a massive sell order slightly over market value called a "wall", and announces that the "pump" is on. People start buying it like crazy, driving up the price quickly.
Fontas unloads his holdings at a big profit, and leaves the "noobs" with crypto currency that is rapidly falling in value. If they panic sell it fast enough, Fontas might buy the currency again for a second wave of pump and dump.

And the noobs fall for it every time. Suckers.

Good explanation, thanks.
The noobs should gang up against him.

[ultimatebob]

The only way to do that would be to dump any currency you have the moment he announces a pump... but people won't do that because it's not profitable.

The best thing to do is the buy along with Fontas right up to the point where he sets up the "wall", and then dump it before he does. Risky, but more profitable.

[jcharles]

The only way to do that would be to dump any currency you have the moment he announces a pump... but people won't do that because it's not profitable.

The best thing to do is the buy along with Fontas right up to the point where he sets up the "wall", and then dump it before he does. Risky, but more profitable.

What is the purpose of setting up the wall though?
And how does it profit to sell before the wall is set up?

[hero18688]

I know what pumps and dumps are but can someone explain to me how they work, in detail please?
This is my understanding:
You put a bunch of money in and create a buy wall in which the sellers dont have enough to fill.
(Does that make the price go up?)
After the price goes up, then you sell.
What if people are not willing to buy all of your coins?
Why would people buy coins when the price is high?
What is a "noob trap", i read that on one of fontas tweets.

From my understanding, this is how a Fontas pump REALLY works:

Fontas slowly buys a bunch of cryptocurrency really cheap under different user names.
Then he announces on Twitter that he's going to "pump" the currency. All of his followers on Twitter and BTC-E buy up the coins, causing the value to rise.
On the day of the "pump", Fontas creates a massive buy order slightly over market value called a "wall", and announces that the "pump" is on. People start buying it like crazy, driving up the price quickly. Fontas really isn't doing anything... his minions are doing it for him.
Fontas unloads his holdings at a big profit, and leaves the "noobs" with overpriced crypto currency that is rapidly falling in value. If they panic sell it fast enough, Fontas might buy the currency again for a second wave of pump and dump.

And the noobs fall for it every time. Suckers.

If he is scamming people like you said,why few people tweet him as the scam.
But the entry payment to his group is quite expensive.I don't know if it's profitable.Will he announce the coin name which he is going to pump for people to buy before the pump happens?