Trade Bitcoin - AVOID "Get Rich Quick" Shit Coin Pump and Dump

[cryptozink]

That's the thing. The only people gaining are the people that initiated the pumps. They're smart. As soon the shit coin goes up buy 10-20% they sell to people buying after the 10-20% up. Anyone who buys after that is stuck with those coins because no one is going to buy a shit coin that is up that much. They end up selling at a huge lost (sometimes 70-90% lost). It's a scam that works well for people who organize pump and dumps.

The FOMOs are trying to get rich overnight, but ended up loosing everything. I wish people get it that only trading / investing in Bitcoin will bring you profit. Only BTC's price fluctuate to the point where you can make nice profit trading with even $500. It's going to take a while to build up the profit, but it's almost always a sure thing.

[MURONDI]

yes, it's like a ponzi scheme, or hyip, we can avoid these coins, especially new ones, we can choose popular coins, not only bitcoin, there are lots of popular coins, at least having a top 10 ranking on coin marketcap.

[maxreish]

That's the reality we are facing. Pump and dump groups are manipulating the coin. Common traders should also be wise dealing with this. They're attracting some traders by showing some pump prices of their own coin, a typical manipulation scheme. That is why I don't really support such groups that obviously has a power over their coins and has an obviously fake the inflatability of it. This practice is not new but still there are few who fall for it.

[bhabygrim]

That's the thing. The only people gaining are the people that initiated the pumps. They're smart. As soon the shit coin goes up buy 10-20% they sell to people buying after the 10-20% up. Anyone who buys after that is stuck with those coins because no one is going to buy a shit coin that is up that much. They end up selling at a huge lost (sometimes 70-90% lost). It's a scam that works well for people who organize pump and dumps.

The FOMOs are trying to get rich overnight, but ended up loosing everything. I wish people get it that only trading / investing in Bitcoin will bring you profit. Only BTC's price fluctuate to the point where you can make nice profit trading with even $500. It's going to take a while to build up the profit, but it's almost always a sure thing.

The question here is why would they even buy some random shitcoin that is being pump without a good reason?
I think most of the people who does it are the newbie's who really believed in some random signal group that tells them to buy this shit  coin and dump at a certain point.
There is no way an old trader would fall for this kind of thing because they are aware of this kind of tactics and know too well that this kind of pump would usually crash after it hits a certain point and it is too risky.

[blckhawk]

This is why I remain determined in my mindset, that all other altcoins in the market are shit coins except for those who already prove themselves, those who are top listed such as ETH, XRP and other altcoins that prove to be worthy and valuable. The market's incredibly huge amount of altcoins are just making the market look like it's full of coins that are too weak and serves only as a bait to ignorant crypto-investors.

[hatshepsut93]

If you daytrade Bitcoin, or listen too much to shitty trading advices, you will lose your money just as with shitcoins. There's some manipulation happening on Bitcoin markets, there's FUD, shills, experts who talk out of their ass, paid articles in both crypto and mainstream media.

"HODL" became a meme for a good reason - this strategy is both simple and effective, it's good for investors of all levels of expertise, and historically if you have waited long enough, you'd almost always be in profit.

[kawetsriyanto]

The question here is why would they even buy some random shitcoin that is being pump without a good reason?
I think most of the people who does it are the newbie's who really believed in some random signal group that tells them to buy this shit  coin and dump at a certain point.

Yep, agree with you. It is mostly like some newbies trying to invest or a group of people who never learn correctly from losing many times. Still, the problem is not about "newbie or old" but they are not smart enough to decide on what coins to put their money. As a newbie, you must be more selective + careful to choose coins. Normally, most newbies try to invest in the safest coins at the beginning.

[dothebeats]

This has been the case and the thing ever since altcoins were introduced in exchanges and when regulations aren't so defined yet. Good thing that this has been acted upon and is not rampant anymore though there are still some kind of pump and dumps happening on some platforms here and there, particularly on Bittrex. You can't avoid people from participating into sure and fast money, although you can at least try to prevent the event from happening but then again it's purely on regulations and laws and not particularly on the exchange's power since that will cause some issues and stir up the economy.

[jakelyson]

The FOMOs are trying to get rich overnight, but ended up loosing everything. I wish people get it that only trading / investing in Bitcoin will bring you profit.

It is not just the shady altcoins. This can happen to bitcoin as well. Remember in 2017 when noobs FOMO when the price of bitcoin is at ATH in 20K. Then all of them dumped when the price started correcting. They all lost because they FOMO without basic knowledge of bitcoin or cryptocurrency.

If you are a trader, you do not need to stick on bitcoin alone. What is important is that you know what you are getting into. Both bitcoin and altcoin are profitable as long as you do not fall into traps, you understand your market and you researched and have full knowledge on the coins you are betting on.

[Text]

IMO, you can't force any traders to just buy and sell bitcoin solely as long as they are responsible for what they are doing. They can get what they deserve because of their decisions. The crypto market is really huge and keeps on getting the bigger cause of newly created altcoins from time to time. I neither believe nor support this kind of signals, they just want a crowd to be involved in their profit-making strategy to pump the coins/tokens they are holding...

[pawanjain]

Fortunately enough, I realised it in the first month of my trading journey in which period I lost quite a lot of my investment but since I realised it's not the right way to do it, I stopped doing it.
I then started short term trading but since the market was playing against me I decided to go long term and since then I am holding on to my coins.

[btc_angela]

That's the thing. The only people gaining are the people that initiated the pumps. They're smart. As soon the shit coin goes up buy 10-20% they sell to people buying after the 10-20% up. Anyone who buys after that is stuck with those coins because no one is going to buy a shit coin that is up that much. They end up selling at a huge lost (sometimes 70-90% lost). It's a scam that works well for people who organize pump and dumps.

Yeah, that's why we have been calling newbies to stay away with those pump-and-dump groups.

The FOMOs are trying to get rich overnight, but ended up loosing everything. I wish people get it that only trading / investing in Bitcoin will bring you profit. Only BTC's price fluctuate to the point where you can make nice profit trading with even $500. It's going to take a while to build up the profit, but it's almost always a sure thing.

Buy the F**ing Dip and HODL, that for me has been very effective. I do trade but I don't like to short bitcoin, so I would rather buy when the price is cheap and then just HODL, simply as that.

[joinfree]

I can't disagree with you on that mate... I can share so many experiences where i run at a huge loss upon investing into some of the ICOs that were launched into this space. However my investments in Bitcoin has never disappointed me. I always make decent amount of profits anytime i buy into it when the market dips and hold till it rises again. Bitcoin is a sure bet to a profit gained investment, all you need to do is to be patient and stay off the market charts all day.

[chaoscoinz]

That's the thing. The only people gaining are the people that initiated the pumps. They're smart. As soon the shit coin goes up buy 10-20% they sell to people buying after the 10-20% up. Anyone who buys after that is stuck with those coins because no one is going to buy a shit coin that is up that much. They end up selling at a huge lost (sometimes 70-90% lost). It's a scam that works well for people who organize pump and dumps.

The FOMOs are trying to get rich overnight, but ended up loosing everything. I wish people get it that only trading / investing in Bitcoin will bring you profit. Only BTC's price fluctuate to the point where you can make nice profit trading with even $500. It's going to take a while to build up the profit, but it's almost always a sure thing.

I think that I have to agree with you. These scammers are getting out of hand, and pocket. The schemes that they keeping coming up with are getting more sly by the day. A lot of projects are just a bunch of copy cat clones that offer little to no real innovations. I try to avoid scammy sounding projects at all cost.

[Genemind]

That's the reason why we have to be smarter and wiser not to believe in scammers and Ponzi schemes. We should deal with the market changes and we must not believe in Fomos. Sometimes, we're easily hooked and attracted to too good to be true promises. We must observe the market ourselves and take advantage of every market situation based on our own knowledge.

[cryptozink]

A lot of newbies here people are getting rich overnight from bitcoin and they want to get rich too.

That's the thing. The only people gaining are the people that initiated the pumps. They're smart. As soon the shit coin goes up buy 10-20% they sell to people buying after the 10-20% up. Anyone who buys after that is stuck with those coins because no one is going to buy a shit coin that is up that much. They end up selling at a huge lost (sometimes 70-90% lost). It's a scam that works well for people who organize pump and dumps.

The FOMOs are trying to get rich overnight, but ended up loosing everything. I wish people get it that only trading / investing in Bitcoin will bring you profit. Only BTC's price fluctuate to the point where you can make nice profit trading with even $500. It's going to take a while to build up the profit, but it's almost always a sure thing.

The question here is why would they even buy some random shitcoin that is being pump without a good reason?
I think most of the people who does it are the newbie's who really believed in some random signal group that tells them to buy this shit  coin and dump at a certain point.
There is no way an old trader would fall for this kind of thing because they are aware of this kind of tactics and know too well that this kind of pump would usually crash after it hits a certain point and it is too risky.

[cryptozink]

ICOs are the scums of cryptocurrency

I can't disagree with you on that mate... I can share so many experiences where i run at a huge loss upon investing into some of the ICOs that were launched into this space. However my investments in Bitcoin has never disappointed me. I always make decent amount of profits anytime i buy into it when the market dips and hold till it rises again. Bitcoin is a sure bet to a profit gained investment, all you need to do is to be patient and stay off the market charts all day.

[AjithBtc]

Ico's and hype schemes serve to create bad image to the cryptocurrency, but we also need to agree that there people who have benefited investing on shitcoins. This is all associated with the luck. Just think of the year 2017, what we say as a shitcoin now were regarded good ones. This is all because of the market, maybe if those days comes again we might be able to profit out of shitcoins that are worth big in the past.

[BlackFor3st]

That's the thing. The only people gaining are the people that initiated the pumps. They're smart. As soon the shit coin goes up buy 10-20% they sell to people buying after the 10-20% up. Anyone who buys after that is stuck with those coins because no one is going to buy a shit coin that is up that much. They end up selling at a huge lost (sometimes 70-90% lost). It's a scam that works well for people who organize pump and dumps.

The FOMOs are trying to get rich overnight, but ended up loosing everything. I wish people get it that only trading / investing in Bitcoin will bring you profit. Only BTC's price fluctuate to the point where you can make nice profit trading with even $500. It's going to take a while to build up the profit, but it's almost always a sure thing.

This is the big problem in crypto society right now as there are plenty of groups around there that are doing this kind of technique. They are very good in pumping and once they get the buy orders, they will just dump it easily and the victims will lost their money.

It should be address to the newbies, as most of the victims in this kind of technique are them especially that most of the newbies didn't know this kind of happenings "Pump and Dump".

[Artemis3]

That's the thing. The only people gaining are the people that initiated the pumps. They're smart. As soon the shit coin goes up buy 10-20% they sell to people buying after the 10-20% up. Anyone who buys after that is stuck with those coins because no one is going to buy a shit coin that is up that much. They end up selling at a huge lost (sometimes 70-90% lost). It's a scam that works well for people who organize pump and dumps.

The FOMOs are trying to get rich overnight, but ended up loosing everything. I wish people get it that only trading / investing in Bitcoin will bring you profit. Only BTC's price fluctuate to the point where you can make nice profit trading with even $500. It's going to take a while to build up the profit, but it's almost always a sure thing.

Or you can wait it out, earn less than trading, but not "lose" as you say. Because, you never lose unless you sell, and if price plummets, all you have to do is wait and you won't lose a thing.

Not everyone is a trader, and holding is a perfectly valid strategy to preserve value when possessing a deflationary coin. Can you earn more by trade? Yes, but you are risking it more as well.

Leaving the coins in a cold wallet and look at it next few years from now works fine as well.