How pump and dump group are damaging reputation of crypto-currency?

[showbiz111]

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people  which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

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[housebtc]

Pump and dump groups are always in any market, the reason why their effect is always significant in the space is that the market is still thin when we compare the trading volume in the space to traditional market. I still believe there will be a time when the market has grown and matured that 1% price movement will be seen has a huge price movement

[asriloni]

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people  which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

Because they are controlling and manipulating the market. They can do whatever they want with the market because they have a lot of funds to manipulated the market.
Some people arguing about that they are luring newcomers to FOMO the coin and they bought at high price and then the pump group was dumping it again.

[JuniAiko]

Actually, pump and dump groups are illegal in other more regulated markets outside of the crypto sphere. Hopefully in time, it will become illegal within the crypto-market too, and anyone participating in pump and dump groups will be treated as criminals and be locked up.

[Red-Apple]

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on

maybe you need to rethink your view of the altcoins then. some thing that can easily lose 99% of its value is not something that is worth even existing let alone being used or traded!

but to some people  which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud

i wouldn't call it fraud but the word "shitcoin" comes to mind. i mean 99% drop is unbelievable! and it happens every day. and people with half a brain wouldn't just be discourage, they will instead go back to things that matter meaning back to bitcoin.

to me I move on and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

these groups are also people. but people who are taking advantage of this situation with altcoins. and others don't mind it either because the only thing that everyone in altcoin market cares about is profit and nothing else.

[laredo7mm]

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people  which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

If you quit cryptocurrencies because of that, then you are not mature enough for this business and it's better that you stay away. You should learn something from such situation and study the coin before you invest in it. If the price is raising without reason and coin is overrated, than you can know that it's just a pump and dump and you need to be aware of risk. If you're buying some shitcoin just because it's growing than you will soon regret it and it's completely your fault, not fault of pump and dump group.

[AngelSky]

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people  which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

Most of the bump and dump group give the signals on some exchanges via their twitter or telegram channels usually. They cannot hold the dump or pump for more than 1 hour. As I checked one person this is the maximum time they can rule the price.
Do you want to find the bitcoin grow in the market means these group will not be a helpful one as I know.
They can only rule with the cheap tokens and cheap coins only.

[saturn.network]

Pump and dump will always exist it is just the nature of the game. Better not to worry about it, as long as you avoid the scamcoins then it should not really matter, the price will eventually be corrected =)

[swissgang]

That groups may be independent of coin, they can't pump every coin but they can pump most coin depending on the power of group so it is not about coins but coins with low market cap are more vulnerable.

[kirstiemorton23]

Pump and dump will always exist it is just the nature of the game. Better not to worry about it, as long as you avoid the scamcoins then it should not really matter, the price will eventually be corrected =)

I agree with you pump and dump will always be there, I will just follow their game pattern, I am more afraid of scam coins.

[Swenna]

-snip-

Most of the bump and dump group give the signals on some exchanges via their twitter or telegram channels usually. They cannot hold the dump or pump for more than 1 hour. As I checked one person this is the maximum time they can rule the price.
Do you want to find the bitcoin grow in the market means these group will not be a helpful one as I know.
They can only rule with the cheap tokens and cheap coins only.

This is real. There are so many telegram groups that is intended for a pump and dump act. These groups are mostly composed of at least ten thousand members. They have this schedule on when they will announce what coin to buy and in which exchange. After the announcement, the pump will begin and then the members of this group will start trolling in the chatbox of the exchange, engaging other people to look at the sudden rise of the price. The outsiders will of course take the bait and invest and then after meeting their profit (200% atmost), they will start to exit and dump all of the coins. Thus, the coin loses its actual price, leaving it all dry.

[Ninciabr]

No, it is necessary to get used to the fact that cryptocurrency is a volatile tool and take into account the high volatility when making transactions.

[Condoriano]

Not exactly damaging the reputation, pump and dump is definitely one way to earn. Even sometimes in stock market it does happen. Effects can be negative or positive depend on your situation. Others do earn while others experience losses. It does happen to coins which doesn't have a long term goal so we can call it shitcoin.

[uncleduckerr]

Because in any other regulated market in the world that is taken seriously this is illegal. I know this market isn't regulated yet but if we want to be taken seriously this behavior has to stop soon. However, I know that without a law in place it will happen until the very moment that law gets passed. Regulation couldn't get to crypto any quicker.

[DeepChipolino]

About a not shitcoin: pump-and-dumps increase the popularity of crypto currency. But difficult to rate the reputation.

Do not worth buying coins that can pump groups from social networks. These are illiquid coins and it are easy to drive.

[berrygood]

I invested $500 in an ico, now it is only $50, I never invest in pump dump coins and some coins hyped by groups but ico always makes me lose money.

[ashmodeus]

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people  which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

well
if that coin is useless coin , just like a easy way to get money.
but if that a good , like a top 100 coinmarket.
i think they need a big money to make a pump dump scheme.
about newbie , i believe more exchanges sites already announced about crypto currency is very fluctuactive
considering exchanges sites its a initial steps to get started

[AK47-]

I believe the pump and dump in crypto sphere isn't limited to only small cap coins. Even large cap coins and BTC itself gets pumped and dumped. We did see Bitcoin getting pumped and dumped using futures trading these 3.5 months. Also ETH being the victim too. In this market, the distribution isn't equal. Some 1%-2% are hodling the maximum percentage of the total mcap. Thus, having this pump and dump where investors aren't that skilled become easy and small investors become easy target for those Telegram groups.

[akamit]

I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people  which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??

I'm extremely against the P&D groups and their market manipulation theory.
The reason is simple, very few participants will be gainer and the maximum will be bagholders if the pump & dump operation is for a shit coin.
Usually, the p&d group team members are the ones who get the benefit from every operation and the ordinary participants get busted.

Of course, it is discouraging newbies from cryptocurrency investment/trading sector.
If a newbie starts his/her journey of trading by participating in p&d and becomes a bagholder then he/she most probably will lose the interest on cryptocurrency.

In my opinion, steady growth with people's pure interset is much better.

[Poink]

Not exactly damaging the reputation, pump and dump is definitely one way to earn. Even sometimes in stock market it does happen. Effects can be negative or positive depend on your situation. Others do earn while others experience losses. It does happen to coins which doesn't have a long term goal so we can call it shitcoin.

Really???

You know; stealing, mugging, holdap, carnapping, kidnap for ransom, dealing illegal drugs, human trafficking, etc. are ways to to earn as well?  But do you realize these are wrong?  Market manipulation (which what P&D is) is illegal and morally wrong!