Someone please help me to understand the shitcoin pump and dump...

[European Central Bank]

the coins don't necessarily have to be shit. pumpers will descend on anything they can get their hands on. there are some interesting projects which have been just as pumped as the absolute junk.

[bbc.reporter]

I observed that many shitcoins come out on a daily basis. I call them shitcoins, because you can see clearly they are copy-and-paste coins, with nothing new other than some changes of parameters, and usually huge amount of premines. The devs aim at quick dump and try to make some money.

When these coins hit the exchanges, often there are some pump and dump. Someone, artificially pump the price for a while, then he will dump, and many such coin the price will go to 1 sat, with no one buying, usually it's the dead of the coin. The "dev" may start another coin etc.

Question is: how can these people make money? initially, there will be some people mine the coins, and they will dump all once the exchange exist. If dev artificially pump the price, will any people really follow him and buy?? I won't imagine there are people so stupid and let dev with huge premine to dump. So I think dev's pump is useless as those who mined the coin will dump regardless. But why I still see many pump then followed by dump in these shitcoins??

Before all they do is create hype and pump the price of their shitcoin and everyone clueless in the community will follow. Now it has become more sophisticated and it looks very legitimate. They still hype and make fantastic promises and then organize an ICO, get millions and then slowly leave the project and declare it is now in the hands of the community. A good example of this will be Ethereum.

[BTCLovingDude]

the coins don't necessarily have to be shit. pumpers will descend on anything they can get their hands on. there are some interesting projects which have been just as pumped as the absolute junk.

yeah but what OP is talking about here is the real shitcoins, because that is strange.
when any other coin is pumped you can understand why it is happening, and other people will surely join in the pump too because there actually is something to that coin.

but with a shitcoin there is nothing apart from the same code with a different name and there is no reason for the rise.

[digaran]

It's all manipulation by a few groups of traders, you need to stay away from trading altcoins at all cost.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.

[rapazev]

It's all manipulation by a few groups of traders, you need to stay away from trading altcoins at all cost.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.

exactly.
in a few cases you dont even need much... one small whale with a bot can manipulate the volume on the exchange and attract newbie traders to the feast. Yobit is a good example, every day we see a few sh*tcoins being manipulated with small orders from a bot.

[jossiel]

It is not just all about the dev's responsibility for the pump and dump. And the whales have the biggest contribution for a coins pump and dump.

It's all manipulation by a few groups of traders, you need to stay away from trading altcoins at all cost.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.

Exactly, that's why those coins who used to have the potential but once those group of traders did something to make its price to fall down.

Then that is not the fault of the dev's for its fall down, even though he needs to do something for that. Greediness is leading them for doing that.

[robelneo]

There's a lot of money to be made from pump and dump coin,not actually shitcoin this is why people are still investing in this pump and dump coin,but timing plays a crucial factor here,you need to know when you will get in and when you'll get out and you must not be late doing that lost a lot from being late to come out from some of the coin I invested in.

[chaser15]

It's all manipulation by a few groups of traders, you need to stay away from trading altcoins at all cost.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.

Actually a manipulation came from the devs itself especially those newly launched coins at ICO. The big whales are just part of the manipulation but the main came from the devs which holds lots of coins. In that way they can create a panic and the result, a big profit. If ever the coin isn't be hooked some of traders then they will stop the development then that coin will now be a shit one. Easy money just need some efforts.

But don't take this statement seriously, it's just my speculation that is near from the reality in the world of altcoin trading.

[btcdiggingmaster]

There are a lot of people, who want to make profit from altcoins and are ready to invest. So they just start to buy in a hope, that they will make a lot. Altcoin price go up, but demand is low, so they will loose instead of profit. And after a time, they make another altcoin and start again.

Yes we see many copy-cats are being launch daily but many are not making much money with this altcoin. Only dump and pump coin many people are investing into it because they can make huge money with in short period of time but they are wrong they need to understand that it won't give much profit with in short period of time. There are many good coins being launched daily you need to look those and concentrate on it you will make with those.

[BitcoinHodler]

It's all manipulation by a few groups of traders, you need to stay away from trading altcoins at all cost.
Unless you'd like to lose your money, seeing trades takes place in exchanges doesn't mean they are legit and you can profit all the time like trading bitcoin.

Actually a manipulation came from the devs itself especially those newly launched coins at ICO. The big whales are just part of the manipulation but the main came from the devs which holds lots of coins. In that way they can create a panic and the result, a big profit. If ever the coin isn't be hooked some of traders then they will stop the development then that coin will now be a shit one. Easy money just need some efforts.

But don't take this statement seriously, it's just my speculation that is near from the reality in the world of altcoin trading.

this is one of the reasons why they ask for ICO in the first place. developing an altcoin is not really a hard job these days that they need investment pre release!

they take all that money and use to create walls depending on where they want to push the price.

and people are still looking for new ICOs to invest in!!

[rapazev]

There are a lot of people, who want to make profit from altcoins and are ready to invest. So they just start to buy in a hope, that they will make a lot. Altcoin price go up, but demand is low, so they will loose instead of profit. And after a time, they make another altcoin and start again.

Yes we see many copy-cats are being launch daily but many are not making much money with this altcoin. Only dump and pump coin many people are investing into it because they can make huge money with in short period of time but they are wrong they need to understand that it won't give much profit with in short period of time. There are many good coins being launched daily you need to look those and concentrate on it you will make with those.

well, to me, a few bitcoins is a lot of money to a ctrl+C ctrl+V coin.
most of these coins get a decent volume at launch in a exchange like yobit. Doesnt seem much, but still a good amount of money for almost zero work.

[R.Hasan]

Folks, how to know the difference between Shitcoins and Altcoins?

[captain_blood]

basic fundamental for the pump and dump coin, be informative specially in telegram, you should be ahead of anybody, position, if they plan listing it to another exchanger, buy early. and right after the pump, after listing. sell all, dont ask for another chance it will dip forever.