msherman00 (OP)
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February 17, 2018, 08:33:06 PM |
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What’s the deal with ERC20? Coin value went up 900% and them lost the entire increase in value in the same day? HOW DOES THIS HAPPEN? What causes this incredible volititlity? I’ve crossed over the newbie stage and just getting more familiar with the more complex, but what is ERC20 exactly (in simple terms)? Is it a good idea to by $10-$15k worth now? Where can I buy that much given I should/do?
EtherDelta was suggested online, but totally can’t fogure it out. Anyone fired up about this the profitability of this coin? Or concerned?
Your Thoughts we be appreciated!
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BettingTips
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OPEN GAMING PLATFORM
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February 17, 2018, 08:38:02 PM |
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It's just a big trap of the whales. LOL. you should know that everything easy pump will easy dump right after that  . Not only ERC20 token, there are a lot of token and coin pump a lot then dump really quickly and all of them are the trap of the whales. I think a lot of trader lost money cause they think ERC20 can increase more than 900%. LOL |
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Gab20
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February 17, 2018, 08:47:31 PM |
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It is a normal phenomenon that happens to most coins and altcoins. I have even seen where an ERC20 token rose beyond 1000% and the fall was so serious.
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msherman00 (OP)
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February 17, 2018, 08:54:08 PM |
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Yea I have seen this on many coins. So too sketchy. Got it. But damn someone made a fortune. Crazy - thanks
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googol.star
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February 17, 2018, 08:57:13 PM |
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Sounds kine of evil thing to do if one is a whale. Because it has the potential of wiping people out. Big ouch if one buys at the top because they think the coin is going to go up and up.
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rbt
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February 17, 2018, 09:06:50 PM
Last edit: February 17, 2018, 09:25:59 PM by rbt |
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What’s the deal with ERC20? Coin value went up 900% and them lost the entire increase in value in the same day? HOW DOES THIS HAPPEN? What causes this incredible volititlity? I’ve crossed over the newbie stage and just getting more familiar with the more complex, but what is ERC20 exactly (in simple terms)? Is it a good idea to by $10-$15k worth now? Where can I buy that much given I should/do?
EtherDelta was suggested online, but totally can’t fogure it out. Anyone fired up about this the profitability of this coin? Or concerned?
Your Thoughts we be appreciated!
Looks like Token Store (it`s the first time I hear about it) is the only exchange where you can buy ERC20 $15K worth today - but the question is WHY?!?  I see you are a newbie on the forum, but still... If you don`t know the project and the team behind it you shouldn`t even CONSIDER investing $15K in any token! |
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Murloc
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February 17, 2018, 09:09:14 PM |
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OP is probably talking about this token: https://coinmarketcap.com/currencies/erc20/#chartsThats a pure P&D coin that already has been pumped several times and then rushed back to the initial price. For ejample in january the volume rised from 9k to 130l dollars and then almost imstantly came back. If you take a look on the chart you will find that this garbage don't have any "natural" growth and only getting P&D. |
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MoonIsBlue
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February 17, 2018, 09:43:10 PM |
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What’s the deal with ERC20? Coin value went up 900% and them lost the entire increase in value in the same day? HOW DOES THIS HAPPEN? What causes this incredible volititlity? I’ve crossed over the newbie stage and just getting more familiar with the more complex, but what is ERC20 exactly (in simple terms)? Is it a good idea to by $10-$15k worth now? Where can I buy that much given I should/do?
EtherDelta was suggested online, but totally can’t fogure it out. Anyone fired up about this the profitability of this coin? Or concerned?
Your Thoughts we be appreciated!
Likely a Pump and Dump, if something goes up in value by an irrational amount and there's low volume then its likely a Pump and dump. And no if you see this happen its best to ignore it, I think U.CASH right now is PnD'd, the volume is about 1MM which is not a lot for a coin with a billion marketcap. |
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MakesMe
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Activity: 172
Merit: 10
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February 17, 2018, 09:56:04 PM |
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probably some big telegram/discord channel made a pump and dumped on everybody else)
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BitcoinGuruOne
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Activity: 364
Merit: 13
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February 17, 2018, 10:04:50 PM |
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This is called pump and dump and more often is done by huge pump and dump coordinated groups.
If you see vertical pump ,dont buy, it most likely will cost you money.
They do it because they make a profit from those sad souls who think that they are jumping in a wagon and it is easy since market caps of most tokens are very small.
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setifien19
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February 17, 2018, 10:07:44 PM |
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It may be due to whales (as well as D&P groups ) interventions whose aim is to extract the profit margin as much as they can by buying big amounts , and when the price rises , they start selling immediately . everything easy pump will easy dump right after that Exactly, money coming fast goes faster |
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ekin4
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February 17, 2018, 10:13:03 PM |
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Because it's just a pump and dump coin. ERC20 doesn't even a legit name, they put token standard to a token name. It's unprofessional behavior. Anyway their whales pumped the coin and dumped on noobs. Maybe not at the same level but we see this thing almost everyday.
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hosseinimr93
Legendary
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Activity: 2394
Merit: 5235
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February 17, 2018, 10:22:36 PM
Last edit: February 17, 2018, 10:41:17 PM by hosseinimr93 |
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The trading volume of such coins are very low. So manipulating the price is very easy for some people. There are also big difference between sell and buy orders. I mean you cannot sell at the price you see in coinmarketcap when the coin has been pumped.
The two biggest gainers in coinmarketcap at time of posting:
Slevin (+149%) , volume: 114k
UltraCoin (+105%) , volume: 81k
ERC20 is the same.
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X-ray
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February 17, 2018, 11:26:27 PM |
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OP is probably talking about this token: https://coinmarketcap.com/currencies/erc20/#chartsThats a pure P&D coin that already has been pumped several times and then rushed back to the initial price. For ejample in january the volume rised from 9k to 130l dollars and then almost imstantly came back. If you take a look on the chart you will find that this garbage don't have any "natural" growth and only getting P&D. This weird because ERC20 even does an ico and i remember about that. It's only traded on the token store which the majority of people are lack of knowledge about that exchange site. I remember erc20 goes down a lot and this time it's try to recover again. There is an altcoin(PnD) which even worst than ERC20 just like the majority of altcoin in yobit. |
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Zeneize
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February 18, 2018, 12:00:37 AM |
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Especially if volumes are very low it is very easy to manipulate the market by selling little amounts to yourself for huge prices. Then it seems that the price has skyrocket, but nothing has happened in reality.
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DemLom
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February 18, 2018, 06:09:26 PM |
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I would not risk it. There are many cases that the coin is growing quite fast and several times, but I do not think that this coin is one of them
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msherman00 (OP)
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February 18, 2018, 09:41:39 PM |
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What’s the deal with ERC20? Coin value went up 900% and them lost the entire increase in value in the same day? HOW DOES THIS HAPPEN? What causes this incredible volititlity? I’ve crossed over the newbie stage and just getting more familiar with the more complex, but what is ERC20 exactly (in simple terms)? Is it a good idea to by $10-$15k worth now? Where can I buy that much given I should/do?
EtherDelta was suggested online, but totally can’t fogure it out. Anyone fired up about this the profitability of this coin? Or concerned?
Your Thoughts we be appreciated!
Looks like Token Store (it`s the first time I hear about it) is the only exchange where you can buy ERC20 $15K worth today - but the question is WHY?!? I see you are a newbie on the forum, but still... If you don`t know the project and the team behind it you shouldn`t even CONSIDER investing $15K in any token! Yea i get that... But with all due respect, I also know that with limited knowledge learned through the bitcoin communities, internet, friends etc. I learned enough to to make substantial profits from XRP, TRX and SC over a the course of 30 days. I know there's incredible opportunity with incredible risk and my risk tolerance it high. If someone told me I would risk $10,000 to perhaps make 900% on the money in a week/month, but the chance of it happening was unfavorable i'd still do it IF and only if it appeared to be the best shot and it made sense. Back to the old... "You'll never make a shot, you don't shoot". I'm here to find solutions and ways to make BIG profits with Crypto. Not play around with a few hundred here and there. This forum is a place to discuss and learn from one another information that be factored into some decision making, isn't it? I realize this is a pump and dump situation, but the question is... how can we make that situation profitable? Because with all the losers from a case like this, there were a lot of winners. |
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kingzues09
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BaanX
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February 18, 2018, 10:28:47 PM |
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Remember we are in cryptospace Traders are going to manipulate the market, Whales are always into it they will put some sell order to scare newbies. As what other said don't fear if you want to sell then sell. Cryptocurrency will give us profitable income so don't regret on every trades what we make.
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