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Author Topic: Pumping and Dumping  (Read 198 times)
ICOBountyPrograms
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July 06, 2018, 09:20:51 PM
 #1

I get invites to pump and dump groups on the daily on Discord. It's unbelievable. Not only is it illegal but it also contributes to the myth that cryptos are scams and extremely volatile.

Do you think that governments will crack on those groups?

Do you think that the people in those groups know that they're hurting the cause more than anything?

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ylnar123
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July 06, 2018, 09:36:21 PM
 #2

I get invites to pump and dump groups on the daily on Discord. It's unbelievable. Not only is it illegal but it also contributes to the myth that cryptos are scams and extremely volatile.

Do you think that governments will crack on those groups?

Do you think that the people in those groups know that they're hurting the cause more than anything?

Yes obviously they know that they are hurting the crypto world and the people around it. But they insist on doing such thing for their own benefit. They don't care what other people will think as long as they will earn.

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July 06, 2018, 09:41:03 PM
 #3

I get invites to pump and dump groups on the daily on Discord. It's unbelievable. Not only is it illegal but it also contributes to the myth that cryptos are scams and extremely volatile.

Do you think that governments will crack on those groups?

Do you think that the people in those groups know that they're hurting the cause more than anything?

Yes. they hurt a lot of us, especially new people.
I was in one. They create twitter accounts and make fake moon calls for random projects. There will be a spike on those coins and people will fomo and buy in. When the prices get to the place they want, they will take profits and dumb on hard on poor people.
It hurted me until I learned I was a victim for that.
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July 06, 2018, 09:44:53 PM
 #4

I get invites to pump and dump groups on the daily on Discord. It's unbelievable. Not only is it illegal but it also contributes to the myth that cryptos are scams and extremely volatile.

Do you think that governments will crack on those groups?

Do you think that the people in those groups know that they're hurting the cause more than anything?
Are they make this group anonymous?
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July 06, 2018, 09:51:44 PM
 #5

I get invites to pump and dump groups on the daily on Discord. It's unbelievable. Not only is it illegal but it also contributes to the myth that cryptos are scams and extremely volatile.

Do you think that governments will crack on those groups?

Do you think that the people in those groups know that they're hurting the cause more than anything?

1. The government's will likely not care, there's not much regulations for cryptocurrencies and there's so much scams in the world in general that it's probably impossible to effectively crack down on it, especially at this age when people do it over the Internet from any country in the world and can create as much fake profiles as they want. It only makes sense to try to catch only the biggest offenders and educate people about scams.

2. Those groups aren't created to benefit participants, they are created to scam them. And the people behind them only care about their own pocket. But you shouldn't worry too much about the public image of cryptocurrencies, every technology has some downsides and risks, but the legitimate use will always outweigh it.

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July 06, 2018, 10:13:43 PM
 #6

It's the greedy of man. And of course, those greedy manipulators knows that they are hurting the others who have invested in those cryptos but their greed won't let them think straight. It's not as if the government will go on cracking those groups, they mostly operate in telegram, the government literally don't have time for this sort of things. This will be the reason why they will keep on giving a negative opinion about cryptos.
ICOBountyPrograms
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July 06, 2018, 11:08:57 PM
 #7

I'm glad that I'm not the only one that thinks that it's selfish and hurting the crypto world in the long run.

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July 06, 2018, 11:13:15 PM
 #8

I get invites to pump and dump groups on the daily on Discord. It's unbelievable. Not only is it illegal but it also contributes to the myth that cryptos are scams and extremely volatile.
Ignore them, they want to add another victim. Many have been scam by these pump and dump groups and they've been taking advantage to the uneducated ones.

Do you think that governments will crack on those groups?
It will be hard.

Do you think that the people in those groups know that they're hurting the cause more than anything?
They don't care about anything, what's on their mind is to make money out of their scheme. I have a friend that never told me that he's into crypto's but after we talked he said that he lost much money with a pump and dump group so that learned him a lesson.

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July 06, 2018, 11:53:27 PM
 #9

There would come a time when the governments would be chasing these guys down for doing such things. It is illegal, yes, and it's fraud in some way. They let the people know that a certain asset/stock/coin is on fire by artificially pumping the coin only to dump down on the poor ones who bought in at the scam. This should be punishable by law however, it is hard to track these guys down but it is still possible if the exchanges would cooperate. As the market matures, It should be weeded out of bastards so that the market will continue to thrive and people would support it.

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July 07, 2018, 12:25:41 AM
 #10

Even without these pump and dump groups the prices are very volatile. On the other hand they create a good amount of volume, which is good.

When enough people start to use crypto currency and the volumes becomes larger, these groups become obselete.
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July 07, 2018, 12:49:34 AM
 #11

~
I totally agree with your statement. That's right even without this group crypto is volatile. I joined this one channel wherein there sre announcement now and then but haven't paticipated in any since I don't believe in this kind of scheme but see this pumps/dumps are being done as well by whales and I don't think government can do anything about this kind of situation.

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July 07, 2018, 02:21:31 AM
 #12

~
I totally agree with your statement. That's right even without this group crypto is volatile. I joined this one channel wherein there sre announcement now and then but haven't paticipated in any since I don't believe in this kind of scheme but see this pumps/dumps are being done as well by whales and I don't think government can do anything about this kind of situation.
indeed whales are toying with the price. at least we can take advantage by following their game. after pumping they immediately throw it away, and big profits are gained

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July 07, 2018, 02:32:08 AM
 #13

I get invites to pump and dump groups on the daily on Discord. It's unbelievable. Not only is it illegal but it also contributes to the myth that cryptos are scams and extremely volatile.

Do you think that governments will crack on those groups?

Do you think that the people in those groups know that they're hurting the cause more than anything?

I am aware about these pump and dump technique, but I guess only the big players could actually do that. These groups can possibly do it, but I'm pretty sure its difficult because there will be a trust issue. Anyway, these pump and dump stuff is a piece of crap, generating profit while the others suffer, this will only make the market worse.
And by the way, government dont give a damn about these people, unless there is a cryptocurrency regulation in a certain place.
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July 07, 2018, 05:15:08 AM
 #14

I get invites to pump and dump groups on the daily on Discord. It's unbelievable. Not only is it illegal but it also contributes to the myth that cryptos are scams and extremely volatile.

Do you think that governments will crack on those groups?

Do you think that the people in those groups know that they're hurting the cause more than anything?

The government will never take actions to those people because in the first place most government is against crypto and we know it already.Then those group of people knows it all if what big damages they made to all the people they scammed.They dont care because they only think to earn lots of money.For them its a great achievement to fooled people and earn money in an easy way.So if I were you do not communicate to those people because theres always an ending in those dirty jobs and for sure it will be worst.
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July 07, 2018, 05:33:00 AM
 #15

~
I totally agree with your statement. That's right even without this group crypto is volatile. I joined this one channel wherein there sre announcement now and then but haven't paticipated in any since I don't believe in this kind of scheme but see this pumps/dumps are being done as well by whales and I don't think government can do anything about this kind of situation.
indeed whales are toying with the price. at least we can take advantage by following their game. after pumping they immediately throw it away, and big profits are gained

Avoid such groups if you do not want to be part of losing money. Instead for your own benefit in long run start reading and understanding how to pick the coins for long run and if you learn it and implement in life some of the coins you invest now can make you retire rich in your life.

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July 07, 2018, 05:56:30 AM
 #16

The government will take action against the group/ comunity if they get rewards from users of cryptocurrency in their country, but if not, they will be indifferent to the problem. To get a profit they want, they will never to see the pain who felt by users of cryptocurrency, they only care about themselves. We can not do anything about this incident, I think cryptocurrency needs a legal protections to crack down on it.

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July 07, 2018, 06:00:59 AM
 #17

I get invites to pump and dump groups on the daily on Discord. It's unbelievable. Not only is it illegal but it also contributes to the myth that cryptos are scams and extremely volatile.

Do you think that governments will crack on those groups?

Do you think that the people in those groups know that they're hurting the cause more than anything?
First of all governments don't have any business with the decentralization so don't expect them to save us from being scammed.
Most of the bump and dump groups are scams so they are scamming themselves and trapped by whales sometimes and lose their money.

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July 07, 2018, 06:03:31 AM
 #18


Don't trust those guys, they will dump their token the first before you can. There are few here in bitcointalk that have been sending PMs about making you invest to some token tell you its going to rise to more then 200x. I have received this kind of message but totally ignored it. The message make sense though, one guy told me to keep an eye on DCR because its going to be added on houbi and okex today and so on. But once you get in, that's the time they may be dumping too.


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July 07, 2018, 06:28:50 AM
 #19

I get invites to pump and dump groups on the daily on Discord. It's unbelievable. Not only is it illegal but it also contributes to the myth that cryptos are scams and extremely volatile.

Do you think that governments will crack on those groups?

The government cannot do anything about this ass al the cryptos are decentralized and anyone cannot control it. They are doing this work with a massive number of participants and most of them will manipulate the market when every they want. But Most of them are fake pumps and dumps for sure as per my experience.

Do you think that the people in those groups know that they're hurting the cause more than anything?
They know they are manipulating the market and they are doing this for their own profits they don't care about other investors of crypto for sure.

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July 07, 2018, 06:34:46 AM
 #20

I get invites to pump and dump groups on the daily on Discord. It's unbelievable. Not only is it illegal but it also contributes to the myth that cryptos are scams and extremely volatile.

Do you think that governments will crack on those groups?

Do you think that the people in those groups know that they're hurting the cause more than anything?
Governments of america is now unto this situation,i believe they are forming an investigation team to focus on this manipulation that has been being the reason why many peple loss their trust on this community,hoping with this manipulatio will stop and the people behind this will be put behind bars

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