What is a PascalCoin and how is Poloniex scamming you?

[badenglishtea]

This Monday (1/22) PascalCoin had $84K market cap.
Yesterday (1/23) PascalCOin had a $500K market cap.
Today (1/24) .. $4MM market cap.

Did I miss anything?

So Poloniex took a shitcoin. Bought a ton of it, listed it on their own exchange, and dumped it. Any other theories?

Don't even get me started on Bittrex (trash exchange/management).

Are there any solid exchanges out there and why isn't there a good decentralized exchange?

[1713579089]

1713579089

[Devnant]

This Monday (1/22) PascalCoin had $84K market cap.
Yesterday (1/23) PascalCOin had a $500K market cap.
Today (1/24) .. $4MM market cap.

Did I miss anything?

So Poloniex took a shitcoin. Bought a ton of it, listed it on their own exchange, and dumped it. Any other theories?

Don't even get me started on Bittrex (trash exchange/management).

Are there any solid exchanges out there and why isn't there a good decentralized exchange?

Yeah we really need decentralized exchanges. Like... yesterday

[juras54]

but also surprised by the actions of the poloniex, some unknown Coin early trade on weak exchange volumes without

[arielbit]

Did I miss anything?

this is what you missed https://bitcointalk.org/index.php?topic=1583719.0

[cryptohunter]

Yep they are bound to wind up in trouble for stuff like this. Too blatant.

[bathrobehero]

So Poloniex took a shitcoin. Bought a ton of it, listed it on their own exchange, and dumped it. Any other theories?

They don't buy coins, they just allow users to trade.

[Spoetnik]

Poloniex knows..

This is why i have never trusted any of these exchanges.
NO TRANSPARENCY !

They technically can do what ever they want.
Question is.. what did they do if anything ?
Only they know and we have to take their word for it 

Maybe contact them and ask them people.

[kotikadze]

I think Poloniex within a few months to buy Pascal on kriptopia or Pasc developers and now all sold and have a good profit

[NorrisK]

They turn a good profit from the volume. Ofcourse they list a coin if they think it will generate them a lot of volume. And this is exactly what happened as it is currently their highest volume coin.

[Spoetnik]

Well i guess if they added a coin (any coin) whom ever can show up and buy lots of them.
I am not seeing any signs Poloniex itself was behind this Pascal stuff.
UNLESS they bought them themselves (they are the whale)
Or.. they are forging the order books etc.

More than likely it is a whale or group etc and we won't ever have proof of who is behind it.
Unless Poloniex wanted to help with an investigation.. doubtful.
They are not likely to want to expose themselves and their customers like that.

Ethereum was a similar situation guys ..as i told you 1,000 times.
As soon as they launched their IPO a mysterious figure was buying up shitloads of coins in 100 BTC chunks.
We know this because i started a scam topic on it in 2014 and on page 1 users reported this from the block explorer.
Back then it was suspicious how much advertising Coindesk was doing on it too and we all knew they had money.. they admitted to it with ASIC mining 6 figures of Doge coin then saying they dumped some etc.
That back in 2014 seemed to scare people away from ETH for a long loooong time.

Until it got hyped & pumped in 2016.. then the world got amnesia and forgot all about it's sketchy launch antics.

Then surprise surprise "Butters" admits to dumping a quarter of his "holdings" for a million dollars.
So by his own words he had 4 million dollars worth... somehow.  

But apparently that sounds legit to you all  

There is a reason i quit trading guys.. this shits a corrupt rigged scammy joke of a whale scene.

[Pursuer]

why are you even surprised?
it is not the first pump and dump coin and it will never be the last one of them either, nearly every day there is a new altcoin that is pumped and then dumped. and most of the times the pumps are as big as 10x or more.

exchanges may be involved in it but it is mostly the pumpers who are doing it.

[housebtc]

What is a PascalCoin and how is Poloniex scamming you? You are the one asking question, you are the one answering it. If you know the answer why ask.

I don't know why people always blame exchange for pump in price. What about those buying the coins at that price. This is a free market if you think there is value in something, you buy it.

What exchanges do is to expose your tokens to potential buyers and since Poloniex is the biggest exchange for Altcoins there will be higher demand for such token. We all remember Zcash madness when 1Zcash token was trading for 300BTC.

Why some people think the price of BTC should be $10,000, some people think otherwise.

[arielbit]

when i read that pascalcoin was added in poloniex i opened my pascalcoin wallet...waited and waited for the wallet to connect to the network, after connecting i test send two batch of 100 coins, when i see my coins entering, i send the rest of my coins, they all got in and then profit  .. i think my deposits was one of the earliest that got in..i was looking at pascal coin thread where people are trying to send coins to poloniex and i was looking at poloniex with 0 pascalcoins at the sell side of the exchange, traders there are trolling each other putting orders for 3000 btc, 1337 btc, 5000 btc valuation... i think what happened is a whales game in general.


i remember when cryptsy added vertcoin, i made a test deposit and it got in, when i send the rest of my vertcoins they stopped it from entering for hours and hours, i'm not alone when that happened (there is a thread here in btctalk about that fiasco)... never used cryptsy since that incident and i moved to poloniex. poloniex was still a small shitcoin exchange back then where traders says "WHOA!" to a 1 btc buy order haha.

[Ayers]

I agree on this, i see the same pattern trend in those coin that are listen there, everytime a new coin is listed you see the initial big pump, and after that you see a fast dump, it must be because some insider is dumping after all the newbie get caught in the initial pump, caused by the exchange itself, i see no other explanation

[memequiserle]

what do you mean poloniex scaming you
you can choise is big coin is safe trade, you can trading is major altcoin and supported trade and many exchanger, ethereum, litecoin, dogecoin and more, so you can compare price is another exchanger, is standard price or not

[tifossi]

Some people make huge profit with PascalCoin trading. But why is Polo scaming you?

[badenglishtea]

The announcement moved market cap 100x.

This was not a development team or feature announcement. This was a exchange-addition announcement.

1. When an non-transparent exchange like Poloniex can move crypto price 100x by simply adding a crypto to their exchange, they are massively damaging any argument that the category can self-regulate.

2. If the category cannot self-regulate, then we better get ready to invite the IRS/FTC/SEC to start acting.

3. Considering the MASSIVE (5% - 20% in coin supply) daily uptick in relative trade volume in PascalCoin between Jan 21st and Jan 24th (announcement), it is HIGHLY likely (even if Poloniex didn't directly act on non-public information), that a third-party was told about this non-public information, and acted that information.

Poloniex is going to ruin this for the rest of us. What if Poloniex gets investigated for fraud? Has anyone thought about how that would impact altcoin markets? Does anyone think the IRS/FBI doesn't care about over $20MM in 24 hour cryptocurrency trade volume?

There are probably 5 - 10 cryptos that are valid additions to Poloniex based on market activity, but the addition of PascalCoin is indefensible.

Price already down 120% in last 36 hours. Will enjoy watching this crypto collapse and the read the comments of bagholders (and there will be many) when they realize Poloniex took them to the cleaners ..

[favdesu]

I just hope poloniex did not raise too much attention... it's still a decent exchange, but this could call some unwanted agencies to the table.

well, decentralized exchanges are needed though

[jeffthebaker]

Poloniex is perhaps the most influential entity as far as altcoins go. Simply put, any coin that gets listed by it WILL explode in volume and marketcap. The only way not to be effected by such a phenomenon is not to participate in newly listed coins. Pumping and dumping only works so long as a fool on the other end buys what you sell.

[raven7886]

It was a surprising for me too. when I saw pascal coin listed on Polo, and the price is 0.0014BTC I got shocked,. it was one of the shitcoin for me, I ignored it when it launched. and thought it is just a random and potential dead coin like others, but listing of it on Polo was strange, and now I can see it dumped a lot on polo.

honestly don't know what is happening.