Does someone have info on the FIBRE megapump?

[pereira4]

Its amazing how a coin that hasn't had any news for months gets pumped out of fucking nowhere. Just holding 0.1 would give you several BTCs...

Anyone knows the backstory? This has to be the work of a whale group, people wouldn't start buying for no reason.

https://twitter.com/fibrecoin

As you can see, 8+ months without tweets...

[Piston Honda]

it happens once in awhile, just prob some whale bot action once it hits a trigger (or hell maybe someone manually does it), get sheeple to buy high and just dump it down within hours.  or it's just a buy up to keep the coin alive on an exchange.  it's not any kind of worthwhile sustainable pump.  just some quick shitty big buy up on a dead shitcoin.

[bbc.reporter]

I am wondering about this. How can the pumper be assured that many other people will buy in his pump? It seems like he is carrying too much risk because it is very much possible that there not be enough people buying with his pump. Or maybe that is what the scam pump and dump groups are for? The pumper dumps on his own group?

[spartak_t]

Can't you see that their blockchain is not operational? It's easy to notice that. Someone also mentioned something about a 51% attack. All the tradings on Fibre were with coins on the exchanges and probably someone tried to create some speculation and earn some extra BTC.

[retardsystem]

Myabe the reason of Stratis?? Just my speculation https://bitcointalk.org/index.php?topic=1512202

This coin's OP was involving Fibre before.

[amacar2]

Completely dead coin i think this is just a job from whales who pumped it hard now it already gain 300+ btc in daily volume in polo so better to short what you have before a massive dump came.

[sandiman]

Classic P&D

[BitcoinNational]

Can't you see that their blockchain is not operational? It's easy to notice that.

that, seen this before and before and before
dead chains pumped as a last ditch dump effort
also easy to pump a deadchain since no one can transfer coins onto the exchange 

[thejaytiesto]

Well, it has gone from 14800 and it seems stable at 76000 ish, after the super mega peak of 260k
I don't see how it is possible to properly dump if you are holding a big amount, but right now if you bought at 14.8k, you can find buy orders of 10+  BTC at in the 76 to 70 range... so whoever bought cheap for a small amount could make a killing a moderate amount. Too bad I obviously didn't hold any since this was a dead coin..

[spartak_t]

Yeah, dead like Fedora (TIPS). I have accumulated like 3 billion coins, half of which I sold @ 2-3 litoshi and look what happened 5 months ago....

[thejaytiesto]

Yeah, dead like Fedora (TIPS). I have accumulated like 3 billion coins, half of which I sold @ 2-3 litoshi and look what happened 5 months ago....

I would say its a good bet to own a bunch of apparently dead alts bought at dirty cheap prices and then wait for the best. You may win the lottery and find yourself holding the coin that gets pumped for no reason. Of course the problem of your sell order being hit and being able to dump due a probably shitty buy order book remains.

[BillyBobZorton]

The fact that a coin literally without a network is getting pumped the fuck out must be the work of a comedy genius with a lot of cash.

[European Central Bank]

somebody wanted to do a pump. then they made it happen.

is it really a dead chain? I'm surprised poloniex would allow that. that makes them hark back to cryptsy's crappiness. poloniex should be concentrating on being as legit as possible.

[vlom]

i think this is a good topic two ask this questions. because i think i still don't understand how such a pump works.

is it really just because there a enough people who buy coins like this because the price is rising and rising. and they are hoping to sell at an even higher price.

[jwinterm]

i think this is a good topic two ask this questions. because i think i still don't understand how such a pump works.

is it really just because there a enough people who buy coins like this because the price is rising and rising. and they are hoping to sell at an even higher price.

Yes. Buyer soaks up coins at price minimum for months then pumps price and dumps on polo trollboxers trying to ride the wave. If they get idiots buying at 5x the price they've been soaking up coins at, then they only need to dump 20% of their stash before it's all profit.