Be Careful With Pumping Groups

[iamTom123]

Lately, I have seen some promotions in Facebook on becoming a member of pumping groups for free. yes, it does not cost anything except registration and some push in the keyboard. Now, the question in my mind is if pumping groups can be effective in making me some money.

Searching on the same topic, I received some warnings that pumping groups are there to dry us of funds and that actually they don't care about us small players as we are actually the pawns they are looking for.

In other words, pumping groups can be a trap if you are not very careful. Why? Because those leading the pumping have already bought their coins ahead of the pumping announcement and when the coin has already risen they would immediately sell their holdings and if you are not watching you can have your bags empty.

I was just a newbie on this and I got victimized because just seconds after I bought my coins the value rose which led me to believe it could rose further but then the slide happened as fast as it rose.

Instead of becoming a part of pumping groups, I am now instead of a group which analyzed trends and give away possible coins to rise...and all for free.

[ktabb]

The idea of a pumping group is flawed. It relies on everyone in the group buying when they are supposed to buy, and selling when they are supposed to sell. However, every person in the group stands to gain more by selling before everyone else after a pump. Basically the idea is flawed because game theory. On top of that, it's price manipulation which is stupid and immoral. If bitcoin exchanges every become regulated (which would be great for bitcoin) then these would almost certainly be illegal.

[batang_bitcoin]

Lately, I have seen some promotions in Facebook on becoming a member of pumping groups for free. yes, it does not cost anything except registration and some push in the keyboard. Now, the question in my mind is if pumping groups can be effective in making me some money.

They are now using social media's to attract and invite those new "members" that will pull funds on his pocket and probably those people that has bigger funds.

In other words, pumping groups can be a trap if you are not very careful. Why? Because those leading the pumping have already bought their coins ahead of the pumping announcement and when the coin has already risen they would immediately sell their holdings and if you are not watching you can have your bags empty.

Yes they are trap for small players like us but I think it's a different thing when you are inside to those whales pumping group.

Instead of becoming a part of pumping groups, I am now instead of a group which analyzed trends and give away possible coins to rise...and all for free.

Much better and good luck with your crypto career mate!

[pooya87]

internet is full of them!
i even got a personal message asking me if i was willing to "spam" for them! as in making bullshit topics saying some shitcoin is good and will go to the moon tomorrow.
it is another one of the new ways to scam people who are desperate to make money and are also to lazy to get of their asses and learn how trading works.

[tonlong]

The idea of a pumping group is flawed. It relies on everyone in the group buying when they are supposed to buy, and selling when they are supposed to sell. However, every person in the group stands to gain more by selling before everyone else after a pump. Basically the idea is flawed because game theory. On top of that, it's price manipulation which is stupid and immoral. If bitcoin exchanges every become regulated (which would be great for bitcoin) then these would almost certainly be illegal.

Its crazy to think that this is the same stuff that makes the global financial markets go round

[qiwoman2]

I remember once in the early days I joined a mini pump group on skype lol. It was hilarious because the main BOSS pumper was dumping on all f us as he made us try to pathetically pump a coin. I think pump groups are a farce and should be banned lol as they give Crypto and Bitcoin a bad name.

[jmigdlc99]

I was just a newbie on this and I got victimized because just seconds after I bought my coins the value rose which led me to believe it could rose further but then the slide happened as fast as it rose.

This is exactly the purpose of pump and dump groups. The value will rise then slide. Maybe instead of create a "be careful of pump groups" maybe you should make a topic called "make sure you know what you are getting into."

[omonuyak]

Iamtom123, provided free services on trend analysis is  a very good idea and you should look for people of the like mind to work with as this is one of the great aspect of rendered services for bitcoin. Most pumping group are scammer and misleading for their evil gain.

[audaciousbeing]

In the case of pumping groups I see the innocent like OP falling prey of such moves because if the quest to make money fast but no knowing that its just another way to lose the little you have. Mostly pumps are based on timing and the timing you might be entering will be the exit for majority of others and if you are not online to monitor the price to quickly exit as soon as possible, you are in for a long thing.

[olubams]

Pump groups here and there but only few are just really serious on the service they are offering at the expense of those who just buy based on statistics not knowing those statistics are artificial that cannot last for long and a responsibility on any trader to buy intelligently. Also again one needs to be careful with the one he joins because you never can tell if its the developer who is ready to push dump his own coin that is behind the group.

[tiggytomb]

Lucky if you have success with any of them, it depends on how greedy you are as you can get away with small profit but if you expect anything big then you will end up losing out.

[beerlover]

I never opted to work with any such group even I do get many invitations from strangers. Whether it is from known or unknown people, I honestly hating manipulating market prices for our benefits, it may bring disasters to numerous innocent traders. 

[Adbitco]

I have always been against such pump and dump groups. They provide you nothing but false info regarding various coins they might be interested in making some profit off. Try to avoid becoming part of them and getting involved in their shitty business. In my opinion such groups are unhealthy for altcoins or cryptocurrencies.

[DaMut]

sure.
a lot of invitation happened in every local boards,
and what made it so strange,they called themself as a pumpers

never ever believed something like that,because when you joined their team,
they will ask a fee as a copensation for joining their team.and after that they will abandon you for sure

[rickadone]

I have always been against such pump and dump groups. They provide you nothing but false info regarding various coins they might be interested in making some profit off. Try to avoid becoming part of them and getting involved in their shitty business. In my opinion such groups are unhealthy for altcoins or cryptocurrencies.

When there will be strong community action against those type of manipulatos, I guess we can get rid off these groups. I believe no trader should make a resolutions for not supporting market manipulations in any form. Because one day or other it will definitely backfire. Trading must be a good business but those manipulators ruining it completely.

[xhienigat]

I too am not really into pumping groups, I experienced the same thing as the OP did when one of the group creator said a certain coin will pump within the week so I believed him and placed some of my savings on that coin only to realize a week after it never pumped and in fact dump. That was a lesson I've learned though.

[giveen]

There is nothing wrong at all with pumo groups on telegram. I am part of a pumo group and obviously my girst pumo was worst and i ended up 0.14 btc. But i easily recovered and actually got a profit of 0.3 btc with initial amount of 0.03. You just need to set a goal. I can't tell much if you think you can't earn from don'tget greedy stop entering these pumps.

[barnes13]

I'm join one free pump group, but when group announce what coin will get pump I never involve in the event, nothing wrong with pump group but we should to realized in trading we can get profit or vice versa.

[mobnepal]

I was scammed by such pumping group before, they didn't scammed me directly but when following their group/provably fair pumping I lost almost 1BTC because of bots ran by those group admins.

[quintiilieo]

Lately, I have seen some promotions in Facebook on becoming a member of pumping groups for free. yes, it does not cost anything except registration and some push in the keyboard. Now, the question in my mind is if pumping groups can be effective in making me some money.

Searching on the same topic, I received some warnings that pumping groups are there to dry us of funds and that actually they don't care about us small players as we are actually the pawns they are looking for.

In other words, pumping groups can be a trap if you are not very careful. Why? Because those leading the pumping have already bought their coins ahead of the pumping announcement and when the coin has already risen they would immediately sell their holdings and if you are not watching you can have your bags empty.

I was just a newbie on this and I got victimized because just seconds after I bought my coins the value rose which led me to believe it could rose further but then the slide happened as fast as it rose.

Instead of becoming a part of pumping groups, I am now instead of a group which analyzed trends and give away possible coins to rise...and all for free.

You are correct i know there's a lot of group that joining as one for the pump and dump of the coin don't let it be a trap for you the most important thing is to how to read charts or the trend to buy coins that you see pump and dump in just a small period of time the trap is there. Find a coin that has a minimal pump dump it would be a legit one which player is not controlled by a crowd. If you wanna get profit on a pump dump you must have big funds in other that if you see that's the dump buy it then if you have profit on pump sell it.