If we all planned to invest in an altcoin?

[Jamzymc]

If say a load of us on this forum planned to invest 1k each into an altcoin. Say burst. Would we drive the price up at all or would it take millions to drive it up enough to make a profit?

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[leupok]

It depends on how many of us and which altcoin you are talking about... The key to a pump and dump scheme is not only to pump the price up but create hype before and during the pump to make others FOMO into it if you want the profits.

As for the pump a very small coin can probably be pumped for $1,000, a medium sized one for $100,000 and a top 10-50 one would require millions.

[Jamzymc]

If say we all pumped doge coin. How would we create hype?

[Vivisector999]

I can tell you 1 important thing about Altcoins, or cryptocurrencies in general.  The amount of money invested in 99% of the coins has nothing to do with the market cap, or the value of the coin.  And the only way to "make" money in cryptocoins is to sell to someone after the fact.  This is the way a pump and dump works.  Not everyone makes money, since in order for someone to make money, someone else has to lose money.   A lot of coins can be pumped with very little money.  Yes it will take ALOT of money to pump a coin like BTC or LTC but for the most part if everyone on the forum pumped $1000 into a coin.  Heck even $100 into a coin it would drive up the price massively.  Which causes a frenzy from people wanting to jump in on the wave.  You can't just stop and coast on a high priced coin, and everyone can then sell at the new price and everyone makes money.  What you need to do then to make money is signal everyone to sell their shares at the time all the investors are trying to jump in on the action, and sell your shares before they know what's going on.  Then in the mass selloff, the price of the coin will probably drop lower than the original price, and everyone jumping in on the wave will have lost a lot of money. 

Highly illegal in the real world, but perfectly normal in the cryptocurrency world.     

[Pursuer]

If say a load of us on this forum planned to invest 1k each into an altcoin. Say burst. Would we drive the price up at all or would it take millions to drive it up enough to make a profit?

that is what the "pump groups" do. although it is not "a load of people" and just a small number of people on top who have a load of sheep following them to get dumped on.
and to do that it depends on how many sheep you can get to follow you and what altcoin you want to pump. if it is a small altcoin with little volume and very thin orderbooks then it can be done with small amount of money, sometimes even less than 1BTC to get it going.
but if it is a bigger altcoin with a high volume and packed orderbook and specially if there are other pumpers on it then you can't do anything because they will crush you.

[xbiv2]

Long investment in altcoin? LOL not!

[irwanjabryg]

Long investment in altcoin? LOL not!

What is the meaning of image no. 2?
Please give me the explanation! in brief .
thank you

[unusualfacts30]

that depends on who hold the majority of altcoins. I don't think pumping should be promoted, it damages the project in short and long term.

[EXtremeAEX]

I can tell you 1 important thing about Altcoins, or cryptocurrencies in general.  The amount of money invested in 99% of the coins has nothing to do with the market cap, or the value of the coin.  And the only way to "make" money in cryptocoins is to sell to someone after the fact.  This is the way a pump and dump works.  Not everyone makes money, since in order for someone to make money, someone else has to lose money.   A lot of coins can be pumped with very little money.  Yes it will take ALOT of money to pump a coin like BTC or LTC but for the most part if everyone on the forum pumped $1000 into a coin.  Heck even $100 into a coin it would drive up the price massively.  Which causes a frenzy from people wanting to jump in on the wave.  You can't just stop and coast on a high priced coin, and everyone can then sell at the new price and everyone makes money.  What you need to do then to make money is signal everyone to sell their shares at the time all the investors are trying to jump in on the action, and sell your shares before they know what's going on.  Then in the mass selloff, the price of the coin will probably drop lower than the original price, and everyone jumping in on the wave will have lost a lot of money. 

Highly illegal in the real world, but perfectly normal in the cryptocurrency world.     

Haha, well said! Paintings work the same way too, people 'pump' the price up in auctions even though it is not that worth but there will be investors who are willing to pay that high price. 

If we all invested into a specific altcoin, it may make other altcoins obsolete, maybe even Bitcoin, and that altcoin may even be our 'main digital currency' that replace Bitcoin. It may happen, but in the real world not all will switch to that altcoin. *Hypothetical Situation*

[JNiks_ZLisa]

Long investment in altcoin? LOL not!

What is the meaning of image no. 2?
Please give me the explanation! in brief .
thank you

Explanation on the picture. newfag=unmature new investors, /biz/tards=traders and promouters

[irwanjabryg]

Long investment in altcoin? LOL not!

What is the meaning of image no. 2?
Please give me the explanation! in brief .
thank you

Explanation on the picture. newfag=unmature new investors, /biz/tards=traders and promouters

Thanks for the explanation.
Very helpful.

[batang_bitcoin]

If say a load of us on this forum planned to invest 1k each into an altcoin. Say burst. Would we drive the price up at all or would it take millions to drive it up enough to make a profit?

So we will come out just like a pump and dump group. And for sure that coin will be increasing it's price because of the demand that will be coming from us. And it's what happening for the whole crypto market, when we see a lot of increase for the current price of a certain coin, it's because of pump and dump groups + good news.

[a859898]

my money already push in ICO..i did'n have money now to buy other altcon....

[oddwh]

I will say for major coins, we have more influence when we say good things about a coin than putting a small amount of money on it. When we talk about a coin, we invest our time and our confidence on it, it's another kind of investment in fact  . Creating hype is another way to bring value to the coin.
Don't forget all the cryptocurrency system is based on trust.

Hype will put newcomers in a coin, and newcommers are reaaaaaally useful for the whales who are manipulating the price  

[xuan87]

Bitcoin is also a crypto currency, bitcoin can get big because a lot of people used and investing in it, so if all of us invest in the same coin then that coin price will go up, but there are a lot of alt coin outside, it will be a challenge to asked people to used and invest in the same alt coin

[shamzblueworld]

If say a load of us on this forum planned to invest 1k each into an altcoin. Say burst. Would we drive the price up at all or would it take millions to drive it up enough to make a profit?

I think it could work for a smaller coin like Burst, for bigger coins it would definitely depend upon the number of participants and how much they invest.