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

[bitcoinposts]

due to recent market downfall, we won't see pump and dump groups working all expect crypto traders vanished from the market bitcoin stabilized in between 6000 $ to 8000 $  no telegrams signals will work at this point of market

[iram1011]

Firstly, the crypto market is unregulated unlike other markets like Forex, stocks or shares market. This gives the bulk hodlers a freedom to conduct pump and dump. Secondly, there are lots of unskilled and rookie investors in crypto who blindly follow these Twitteratis and Telegram groups. I have seen these admins manipulating the followers. They buy before and then announce in group to short profits. It would be tough to escape this situation unless the distribution becomes more diversified.

[morgan4140]

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 have a similar example. I have an OBSIDIAN coin that cost more than $ 2.5. Now it costs 0.1 dollar. I agree, we just have to be patient.

[Hamphser]

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??

For newbie people who just came in and engage theirselves into crypto without any further knowlegde and awareness on possible risk then most of the time they would really heading this way.This do really make bad impression towards crypto but as crypto lovers and investors we do know the truth thing which it gives advantage for us investors.

[imstillthebest]

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??

For newbie people who just came in and engage theirselves into crypto without any further knowlegde and awareness on possible risk then most of the time they would really heading this way.This do really make bad impression towards crypto but as crypto lovers and investors we do know the truth thing which it gives advantage for us investors.

i dont think they pump and dump group gives bad reputation to the crypto because its been only said on the name that they are pump and dump which means they can manipulate the coin. Any users who join it wil surely know it and i hope that they are also aware that cryptos are volatile which means it can fluctuate non stop resulting for its value to increase and decrease without a warning. groups doesnt give a bad name bad the mechanics of crypto itself gives them a doubt.

[Pattberry]

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??

The most important thing before investing is to learn about the market and understand the purpose of the coin or token before investing as there are many coins aimed at just dump and pump and since this is a unregulated market expect these kind of coins and make sure you only invest in top coins in the market rather than going for dump coins.

[poplolnman]

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

a low volume coin could easily manipulated but no with the high volume , if that what you mean then that's true , I couldn't agree more. It was a fraud that no one knows especially a newcomer.
For the first time they might would feel that's a crazy market , unbelievable and sucks experience. But you know it won't happened last forever , you'll get sweet profit and realize that the last time it was a pump and dump did intentionally not an ordinary market.

[yigga]

I have seen more than dozens of coins being totally manipulated with only one ending -> killing the price, and trying to milk out all the money from it.

I have seen coins going from $0,002 to more than $0,02 in less than a few hours, and then going down to nearly zero.

It is simple, but it kills the project.

[Swenna]

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a low volume coin could easily manipulated but no with the high volume , if that what you mean then that's true , I couldn't agree more. It was a fraud that no one knows especially a newcomer.
For the first time they might would feel that's a crazy market , unbelievable and sucks experience. But you know it won't happened last forever , you'll get sweet profit and realize that the last time it was a pump and dump did intentionally not an ordinary market.

Actually, there are large groups that sometimes try to pump and dump a coin even with high volumes. Most of the members of these groups are huge buyers sometimes called as "Whale Pump" and earn huge profits. I am not exactly familiar with how they do things but I do know that they target coins such as EOS, POWR, GVT, etc

[icalical]

Actually, I can that almost all market has a group of people that like to manipulate the price. Even in traditional Stock even forex market. The difference is that crypto market is still young and thin. These makes the price manipulation in crypto market have more significant effect compared to the other market. My point is that price manipulation unavoidable. Our only hope is that the crypto market will grow even more, and the distribution and adoption is wider.

[Kolder]

Actually, I can that almost all market has a group of people that like to manipulate the price. Even in traditional Stock even forex market. The difference is that crypto market is still young and thin. These makes the price manipulation in crypto market have more significant effect compared to the other market. My point is that price manipulation unavoidable. Our only hope is that the crypto market will grow even more, and the distribution and adoption is wider.

It's easy to manipulate the market if there are a big group or popular media that is under it like making news with a known channel, but if it is just a small community at telegram or Facebook, only those who just hoping for easy money will be bait in that trap.

[Lecsor]

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??

It all depends on the volume of trading of a particular coin on the market. And not always such a fall can speak for that it is a shitcoin, if almost the entire market is in correction. One bad thing is that there are a lot of hamsters in the market who create such situations and discourage others.

[xuan87]

I think pump and dump group doesn't hurt anyone, infact it makes the crypto trading become more interesting, people need to learn before they invest, if they don't do their research and just put the money then it's their fault, pump and dump group give more exciting chance to make profit

[coastbank]

I also think that pump and dump groups are damaging that specific coin's reputation in very long term people dislike coins like that so I think noone should care about pump dump groups, they are profitable only for group owner anyways.

[daxiake]

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??

Not only BTC market is affected by "Pump and dump" (P&D), this practice is in every trading market. Take example of Equity Trading for instance, you can see huge market swing in both direction (up and down) on any single trading day. That manipulation is done by Big investors who are holding majority of the shares. Although BTC is decentralized and distributed ecosystem, still there are WHALES who have gathered majority of BTC over times and now are in a position to manipulate the BTC market. Rule of thumb is to keep your nerves strong and never ever pay attention to P&D and FUD, HODL is key to success in every market and holds true for crypto market as well.

[malikusama]

Actually these pump and dump schemes are the reason why many people are losing their faith on cryptocurrencies.
Some greedy beginners who invest in these schemes never comeback after losing everything they have on their first attempt, the problem is just lack of knowledge, they just want to become rich but never bother to learn about the background and technology of the coin in which they are going to invest.

[Herbert2020]

the reputation of altcoins are already damaged beyond repair because of the true nature of them and also the fact that investors in altcoins care about one thing and nothing else and that is earning more profit. so when people are asking for pump and dumps to happen and are actually happy about it, there is no reputation to be damaged.

also i should add that if a project is really good, for example some altcoin outside of top 10 coins that is focusing on becoming a real currency instead of being pumped and dumped then nothing can damage its reputation ever. you can see bitcoin and the fact that even when they call it "fraud" nobody cares and they only laugh at the person saying it.

[kulakvlad]

When I started trading I used such signals. Then stopped-after the first losses of money.

[PsylockReborn]

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??

It really depends on the project or the coin. A very promising coin that is backed up by legitimate investors and run by brilliant devs and invidividuals won't experience this kind of dumping in just a very short period of time. There are lots of groups in discord right now that are trying to invite people and giving signals on to where to pump and dump. I know this is somewhat a manipulation or a strategy but it could severely give bad impact on a particular coin or project.

I think pump and dump group doesn't hurt anyone, infact it makes the crypto trading become more interesting, people need to learn before they invest, if they don't do their research and just put the money then it's their fault, pump and dump group give more exciting chance to make profit

I agree with you on this. We really need to do our homework before investing our money to a certain project for us to avoid any losses in the future. Investing in crypto is very risky due to its volatility and there are lots of scam ICOs happening right now.

By knowing the background or the people behind the project you can really tell that the altcoin is a promising one. We should also verify the credibility of the devs working on it and the technology that it can bring to the society.

When it comes to the thought that you said about "pump and dump doesn't hurt anyone" I kinda don't agree with this since pump and dump could really affect the value of the coin. I know this is strategy of some groups of people to earn profit but mostly they are doing this to a certain coin that they think is vulnerable to this kinds of manipulation.

[O9NpJ9ld1opS]

Pump and dump groups are indeed giving bad reputation for crypto currency is. I know some of my newbie friends who became prey for such groups. They lost big amount participating in pump and dump groups. Some of them even left crypto after these incidents.