What do you think about Pump-dump groups?

[equator]

i don't really concern about these groups even more likely to avoid them because i don't really sure about their reputations and my friend had bad experience that he has joined the groups such as this and decide to buy the particular altcoin because they says it will pump after days but unfortunately it was never happened and my friend has been lost his money so after seeing this incident i personally decide to not believe them

This are all ways of scamming users, if a group or person want to pump or dump a coin how will he inform you, even if they inform first they will buy it in low and after that they will inform so that on high note they can sell it. Their is no real pump and dump group online.

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[Scoremaster]

I think pump and dumps are a scam. Probably the bigger members who have the most coin will be a secret of what they are doig, then they tell the noobies what to buy, but the secret is they already are selling it to noobies and price is alreaady up.

[NorrisK]

I think these threads should be closed. Pump and dumps are illegal and just because it is difficult to enforce in crypto doesn't mean it is suddenly ok to take part in it.

Maybe people will learn their lessons at one point after they realize it is usually the group owner that really makes the big profits.

[nevadasauce]

I think these threads should be closed. Pump and dumps are illegal and just because it is difficult to enforce in crypto doesn't mean it is suddenly ok to take part in it.

Maybe people will learn their lessons at one point after they realize it is usually the group owner that really makes the big profits.

Yes! Agreed. Pump--and-dumps have gotten out of control and are a toxic presence in the crypto community.

[Clement Kaliyar]

I'm starting to see a lot of threads regarding pump and dump groups in the forums with some links to the Telegram groups associated with them. With all honesty, what do you think about these groups and do you support them?

Is it really possible to manipulate the markets like they advertise,you need a good amount of money to do that,may be they could manipulate the low volume coins,other than that it could not work in the high volume coins,i am not a member of any of these groups so i am not sure how they work.

[Adbitco]

I have said it already before that and I repeat it again that all these pump and dump groups are scam and hence waste of time and money. The people who create such groups are the ones who gain and make good money out of these groups others only lose. It is made to believe that the creators of such groups are trading experts and have a great experience in trading but the fact is they are just scammers. If we love bitcoin and if we love the concept of cryptocurrency then we should not only avoid such groups but also help our fellow members and advise them not to become a part of such groups.

[darkangel11]

Most pump groups are just a way to suck money out of people. Especially groups that require a subscription fee to join fall into this category.
You pay the fee and the founder of the group has some free cash to invest, then he gives you a fake call, group members buy and he sells into their pump = easy money, easy life. Conclusion? Stay away from pump groups, unless you personally know the founders and know you can trust them.

[haroldtee]

I'm starting to see a lot of threads regarding pump and dump groups in the forums with some links to the Telegram groups associated with them. With all honesty, what do you think about these groups and do you support them?

I've came across pump-dump groups on online game markets in the past. While I'm not sure, I think it has the same methods and goals.

You may think you can make big profits, it's kinda unlikely, unless you can outsmart the system. The person who makes the most profit is the one who calls when to buy or sell whatever cryptocurrency, as he makes the first transactions.

Ex. Caller says "buy EOS". The price of EOS will then rise a bit depending on how many members the group has. But before the caller makes that call, he buys EOS first so he gets EOS on lower prices. Same concept when the caller calls the sells.

It seems I am beginning to understand what this is all about. I recently joined one on telegram though I have no idea what it was all about really but was just curious as to what it could be. So there is no possibility of someone not getting nabbed at the end by the leader of the so called groups. Not like they are helping anyone, they are mainly helping themselves by leading some of us who are gullible into a hot fire! I'm running away! I wish I have some trading skills, won't be bothering myself with all these shits.

[gentlemand]

They're tiddlers and stupid ones at that. I observed one highly touted pump. It went up 20% on a volume of about 0.1 BTC. And they wouldn't have been able to get any profit out without crashing again anyway.

The real pumpers won't tell you a fucking thing in advance.

[Kotone]

I'm starting to see a lot of threads regarding pump and dump groups in the forums with some links to the Telegram groups associated with them. With all honesty, what do you think about these groups and do you support them?

They're just making some pump and dump to make their money grow ofcourse how they can earn money if they don't have some action to do with it they're also a plenty groups who actually to manage the dumping as well. Maybe these are supporters nor enemy of one coin but to have an profit.

[cryp24x]

I am not giving attention to this Pump-dump groups.  I believe the one who created this group is just exploiting those people who will join this group and eventually rob them of their Bitcoin just what Wolong did with his own pump dump group.  Aside from that this is quite hard to sustain since there is always someone who wants to take advantage of another member of the group .

[btccashacc]

Actually i have joined with a group on telegram and this is free, so the group is created by someone who best in trading, he shared tips and trick and everything what he's doing on market, he's giving us a signal what coin would be pump or dump, well i think it's not a big deal if i join the group, clearly he doesn't charge us. I personally would not join the group that requires a subscription fee to joining the group, like people said above mostly they are scam, even though there are some of them are real but usually they charge higher cost.

[bitcoinvestor]

I'm starting to see a lot of threads regarding pump and dump groups in the forums with some links to the Telegram groups associated with them. With all honesty, what do you think about these groups and do you support them?

Yes, there are thread promoting pump and dumb group,  I think the group will not effect enough in price of big coin with high market cap. They may targeting unpopular coins with low marketcap. WHen they join together to pump or dump a coin will have effect. I don't know how they work? anyone ever join the group, Do thay have a comander like an army who want to attack the enemy? That's some kind of joke I think.

[d5000]

i don't think you can really have a group for pump and dump in bitcoin. and as the market grows bigger it becomes harder to make such groups.
all these pump and dump groups so far have been working with altcoins

It's true that small altcoins are fertile territory for pump-and-dump groups. But I'm sure they also exist on Bitcoin exchanges. So, for example, these 200-300$ up/down swings with no real fundamental news related to them (but often, related to FUD or ultra-bullish forum posts/media articles like these that claim a 50.000 or 100.000$ Bitcoin price in less than a year ) very probably are caused by these groups operating.

[EddyGameta]

I'm not really interested with pump and dump group, this kind of group only use newbie member / slow member to generating profit for them. When newbie member / slow member put buy support and they will dump their coin. If they wanna pump a coin they will mention all member, but if they will dump they wont mention all member. it just a trap for newbie

[gribble]

I'm starting to see a lot of threads regarding pump and dump groups in the forums with some links to the Telegram groups associated with them. With all honesty, what do you think about these groups and do you support them?

No i don't want support them because even i joint with them, doesn't mean will getting good profit with them
 i traded with my strategy that be suitable with my style of trading,
i will follow the trend of price and never follow the group of pump-dump because they can not control the trend of price
 the basic way of trading always follow the trend.

[pooya87]

i remember there was a big one on bitcointalk called ryanpumper, he at least gave some good information in the start and then things went south. and the funny part about it was everyone kept saying he has lots of alts in his topic who are defending him but not everyone believed. and finally theymos caught him and said he had more than a couple dozen alts (maybe 100 i can't remember it was 2 years ago) and banned all.

[coynedterm]

I'm starting to see a lot of threads regarding pump and dump groups in the forums with some links to the Telegram groups associated with them. With all honesty, what do you think about these groups and do you support them?

This is the truth that currently many people are going in the pumping and dumping . To make their network big they have started the telegram app network ( which is like the WhatsApp ) ,they are making lot of numbers of the people and giving information hourly to buy and sell the coins at the particular exchange but they are not responsible for any type of the loss .
Here I myself joined the group yesterday and they told me to make day trading but I get loss of 4$ in one day due Thier signal of trading which was actually the pumping group not the trading signal group .
Many of the people are making money with the pump of coin but here I don't this is honest way of earnings , more better is that analyse the history and data of the coin and make predictions and don't join any type of telegram fake trading signle group or pump dump group .

[skyline247]

I have been trading since 2013. Let me tell you, there is no such thing as a pump-and-dump group where everyone makes money. In fact, most members of pump & dump groups LOSE money in the long run. Why? Simply because the founder only cares about himself. The leader of the group does not care if anyone else makes money except for him.

He will tell you when to buy, but at the same time you are buying - he is selling and taking your money! That is how it really works.

[gueorguiev]

Frankly I don't support them. It's a bunch of people pooling funds together to artificially increase the price of an alt coin, which in turn tricks others to invest, just to then sell their coins to make a profit. IMO its greedy, deceitful, and the people who join these things are assholes. I wouldn't be surprised if most of the time the leaders of these kind of group have ulterior motives and plan to screw the group members themselves.