Pump and dump groups?

[JGoRed]

I heard there's some *mostly* legitimate pump and dump groups that operate on Yobit. Is there any truth to that and if you've ever been a part of one how was your experience?

Edit For those wondering:

For those who were wondering, I wasn't actually planning on joining one; I just heard about them and were curious about if they really were there or not and how they were like.

[AngelOnCrypto]

That would be very bad for the whole crypto ecosystem, but I don't doubt such shady activities will occur when a lot of money are involved.

Soon after the online poker boom, good players started conforming cartels, i.e. organizing together in skype groups to coordinate each others' actions. They simply lock a deal that none of the good regulars will sit against another one and everyone of them will get a scheduled time slot when he can sit and wait for a fish to come sit and play against him.

It is a matter of time people get in groups in crypto to get an unfair advantage. The group is always stronger than the individual who plays solo.

[bigdogdan2]

Do yourself a favor and just ignore any pump and dump groups.  The only ones that really win out are the ones organizing the pump and dump cause they and their friends buy in before the pump and leave many people within the group hanging.

[Dalmar]

Do yourself a favor and just ignore any pump and dump groups.  The only ones that really win out are the ones organizing the pump and dump cause they and their friends buy in before the pump and leave many people within the group hanging.

Using pump,dump groups can bring good amount if you know what you are doing. Traders mainly check small market cap coins to make some crazy movements to trap small traders. Smart traders never fall to this trap and btw whales are watching

[sk.kumar3582]

That would be very bad for the whole crypto ecosystem, but I don't doubt such shady activities will occur when a lot of money are involved.

Soon after the online poker boom, good players started conforming cartels, i.e. organizing together in skype groups to coordinate each others' actions. They simply lock a deal that none of the good regulars will sit against another one and everyone of them will get a scheduled time slot when he can sit and wait for a fish to come sit and play against him.

It is a matter of time people get in groups in crypto to get an unfair advantage. The group is always stronger than the individual who plays solo.

its not just about cryptoworld, we have them in forex too, many are big companies, not just some smart kids,

so i think blaming anyone or anything is not ok here

actually its not much hard to get them in time, we need to follow news and separate fake from real one

that will help not being scammed or end up loss

[housebtc]

I heard there's some *mostly* legitimate pump and dump groups that operate on Yobit. Is there any truth to that and if you've ever been a part of one how was your experience?

It is true that we have pump and dump group and are being assited by some Youtubers that help promote the tokens they want to pump and dump. I think it is wrong to call them legit because the act of pump and dump is not legit in any form

[kryptqnick]

Do yourself a favor and just ignore any pump and dump groups.  The only ones that really win out are the ones organizing the pump and dump cause they and their friends buy in before the pump and leave many people within the group hanging.

I agree that these groups are risky and it's obvious that their creators are interested in themselves gaining profit, not some other random people who happen to believe them and seek easy profit. What's more, I don't think it really works a lot, because most of currencies have big marketcap and so it's basically impossible to make a big difference buy buying or selling coins. Perhaps only trading volume can be increased easily this way, but I don't think most of people consider it an important factor. I think it would be a lot more productive to be writing and get published some speculations on some coins going to rise as well as write threads on it on bitcointalk, but this is a rather bad and risky thing to do as well.

[Drokzid]

You should avoid pump and dump groups.

The only one who benefits froms uch groups is the owner, because he can buy in and build sell walls right before the call.

[colombuszka]

IMO you should not be part of one.  But you do whatever you would like to with your money, but do not think that you will became a millionaire with some kind of shady hueueuheue herp derp pseudo child group who call themself "pumpers and dumpers"

[tradecoin247]

avoid them

[paladium]

Never trust pump-dump groups 100%. Information may be available, but it is best to investigate yourself.

[pr3m0nition]

There were a couple pnd groups on discord that i was a part of.. Definitely a bad idea as everyone dumps on each other and the risk of losing big is high. Would recommend against it.

[Anonylz]

Pump and dump groups are the worst thing that the cryptocurrencie world had, it is incredible because they are just a group trying to earn money, and this is why they put all their funds on a coin hoping to pump the price and then sell, because if there are green numbers on coinmarketcap everybody would feel tempted to buy, and the price will keep going up, and they are always going to be able to sell their coins if they are lucky.
It has been happening for more than years in here, and this is not healthy for bitcoin and to all the altcoins that are on the market.

[JGoRed]

For those who were wondering, I wasn't actually planning on joining one; I just heard about them and were curious about if they really were there or not and how they were like.

[artmen007]

all of these groups. they can not predict how the market will behave.
Consisted paid even expensive or free of charge. And everywhere write. Sorry we are a flash in the pan came out only this time, next time everything will be different. So they always say. and they always give signals to the coin after growth began themselves to purchase hamsters catch up and then sell...

Better to keep and to sell it when the x2 will be... and not to chase these fast pump with the ability to crap

[pjhom]

Yes they exist.  They damage the community though, because it causes more fear for investors who might legitimately invest in crypto.

[shata]

all of these groups. they can not predict how the market will behave.
Consisted paid even expensive or free of charge. And everywhere write. Sorry we are a flash in the pan came out only this time, next time everything will be different. So they always say. and they always give signals to the coin after growth began themselves to purchase hamsters catch up and then sell...

Better to keep and to sell it when the x2 will be... and not to chase these fast pump with the ability to crap

If you choose not to sell now then you will have to wait until its to to reach that higher price value with ever. Times two of the current value os possibe to happen and thats been happening already several months ago this entire year of 2017. Faster pumps gives us hope to decide for holding your coins and nevermind that dumps. Predicting which group might rise of its flag cannot be determined so far, and its best to always make monitor the actual trend over market price value.

[Choosewise]

Don't imvolve yourself with those. It's stupidly risky

[Manuj]

Do yourself a favor and just ignore any pump and dump groups.  The only ones that really win out are the ones organizing the pump and dump cause they and their friends buy in before the pump and leave many people within the group hanging.

This is exactly what will happen if you are not a big whale and you join these pump and dump groups. Sooner or later, you will be eaten too and will be an additional statistics to their victims. Remember that a pump and dump group will hardly even make a dent to the price movement if they are not composed of large investors. They are now accumulating much more influence by letting other small-time investors and traders join them. But it will always end up against you.

[Byakuya]

The pump & dump groups are very risky and I think pumping isn't ethical because  you make profit when somebody (especially newbies) lose a lot of money because of this pump.