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Author Topic: The pumping of "Forgotten coins"!  (Read 1432 times)
Red-Apple
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June 08, 2017, 02:52:31 PM
 #1

what do you think is happening in the market, to be honest i no longer have any idea  Cheesy

i can understand big coins (the top 10 or whatever) getting pumped.
i can understand small coins (the rest to 100 something) getting pumped.

but what i can't understand is why and how the hell are they pumping the dead/forgotten coins! and the volume is HUGE by the way...

if you look around at coins that have been dead, abandoned, and with prices that were ridiculously low like 1 satoshi, ... these coins are getting pumped these days!

the latest is Pandacoin (PND) it doesn't seem to be as big as others such as MOON and HTML5 but it is 400% rise so far!!!

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June 08, 2017, 04:13:20 PM
 #2

There is an active pump group that is using yobit and 4chan to scam people.

They will buy 1 SAT coins, then shill the hell out of them on /biz/. its easy money for them and the pumps don't last that long. a few days and then they pump some other crap.
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June 08, 2017, 04:18:52 PM
 #3

Pumping dead coins is not a bigger scam than ICOs. A lot of projects were not sustainable mining wise in last years bear market.
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June 08, 2017, 04:25:13 PM
 #4

No need to get worried. This is just attempt to fill pockets by looting others by some groups, associations or exchanges themselves.
Suppose group of 10 people bought particular dead coin cheaper in huge amount. Then started buying own coins at higher prices. When prices get higher, they will sell off coins and leave market leading to dump.
I never suggest anyone to blindly go for such coins. Only invest in established coins.

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June 08, 2017, 06:14:44 PM
 #5

No need to get worried. This is just attempt to fill pockets by looting others by some groups, associations or exchanges themselves.
Suppose group of 10 people bought particular dead coin cheaper in huge amount. Then started buying own coins at higher prices. When prices get higher, they will sell off coins and leave market leading to dump.
I never suggest anyone to blindly go for such coins. Only invest in established coins.
Totally right they are just attracting some newbie on trading or someone out there to be their victim and invest in their desired dead coin to pump,
And wait till their victim invest cause its getting pump then they will dump it again.
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June 08, 2017, 06:53:40 PM
 #6

They are FOMO fishers looking for greedy sardines
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June 08, 2017, 07:39:48 PM
 #7

Because they have a smaller marketcap, of course. So less money required and less risks.

A single Satoshi of price increase most times is enough to pump the coins

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June 08, 2017, 07:43:27 PM
 #8

money laundering?
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June 08, 2017, 07:57:21 PM
 #9

its double edged sword for pumpers, its not without risk for them either. Those semidead altcoins have often large pool of bagholders, and some of them can notice great opportunity and dump it all into their ongoing pump.
 And pumpers will become bagholders themselves Grin

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June 08, 2017, 08:51:14 PM
 #10

I advise you just do not pay attention to it.

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June 08, 2017, 09:14:11 PM
 #11

They're pumping low value coins and make huge amounts of profit, when you see a large buyorder for an unknown coin, prepare for the incoming pump.

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June 08, 2017, 09:18:38 PM
 #12

bytecoin has to the biggest one.
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June 08, 2017, 09:38:56 PM
 #13

It's sickening and it's all greed, cryptocurrency seems to have lost most of its value.
It's not decentralized, it's not for the little guys, it hurts just as bad a dollars and euros do... more honor a,on the thieves of wall street perhaps Sad


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June 08, 2017, 10:10:20 PM
 #14

It's true, some coins are just pure scams. Copies, with no added value.

But careful about old coins, they can always have value in the future because of the brand.

If crypto becomes mainstream, I wouldn't be so sure that old coins will have no value...!!!
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June 08, 2017, 11:01:29 PM
 #15

This is the real pump and dump scheme,where all the coins are pumped with the market so that everyone gets a fair share of the inflated market  Grin i do not have any idea what is happening with all the coins which i have not heard making a rally.
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June 08, 2017, 11:13:13 PM
 #16

Pump and Dump. I discovered that when i first been a victim of this scam. The very first weeks of my trading i became greedy and not analyze the market growth of what coin i'm buying. After that i discovered bitcointalk and stick with good analysis from our fellow traders.

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June 08, 2017, 11:24:25 PM
 #17

When i first started trading i was caught off guard with these sort of pump and dump coins and since yobit has a lot of coins that are unheard of in the real world,i just went with the flow with them and went on to become a bag holder for a coin and in the end i had to sell it off at 1 sat when i initially purchased them for over 200 sat. Cheesy after learning a good lesson i always tend to be careful in what coins you are entering.
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June 09, 2017, 12:24:37 AM
 #18

what do you think is happening in the market, to be honest i no longer have any idea  Cheesy

i can understand big coins (the top 10 or whatever) getting pumped.
i can understand small coins (the rest to 100 something) getting pumped.

but what i can't understand is why and how the hell are they pumping the dead/forgotten coins! and the volume is HUGE by the way...

if you look around at coins that have been dead, abandoned, and with prices that were ridiculously low like 1 satoshi, ... these coins are getting pumped these days!

the latest is Pandacoin (PND) it doesn't seem to be as big as others such as MOON and HTML5 but it is 400% rise so far!!!

Like people said above, it is a trap. The pump is just people buying/selling their own coins then when there are some big buy walls happen they would dump to nothing, then the next person repeat.

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June 09, 2017, 01:45:37 AM
 #19

Yeah its an easy way for some smart pump and dumpers to make a killing on a bunch of random scamcoins with no active development or project.
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June 09, 2017, 02:27:10 AM
 #20

yeah, I've noticed that too. it is the work of pump groups and it is really interesting to see how many newbies are following these pump groups and pour their money in their pockets easily!
it is a nice move for many though, because these nearly dead altcoins have a lot of miners who have billions of these coins in their bags for no reason which they gave up on but now they can dump it to get a nice amount of bitcoin.

and although it would be a risky move but you can always join in and make some profit if you can catch the train on 1 sat. rising from 1 to 5 is simply 400% profit! I'll do it with a small amount though.

I advise you just do not pay attention to it.

if you start that then you have to stay away from the altcoins altogether not just these specific coins!

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