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

[pixie85]

There are pumps and dumps in Bitcoin as well and those who traded it in the last few months experienced them first hand. Going into bitcoin trading and especially trying to trade with leverage will make them play you like a fiddle. That's what those fast moves of 1k BTC on Bitstamp are meant to do. Liquidate all the leveraged suckers and influence exchanges with higher liquidity.

[Emitdama]

You got the whole idea of these shitcoin or pump and dump coin and I wonder why many people still don’t understand this and they keep giving them the chance to actually dupe them. It is the time that many people forget about some of these projects that keeps promising what that cannot offer and they keep getting money from people.

Bitcoin is still the safest coin to invest in and also trade. I think that the reason why many avoid bitcoin is because they are not well properly informed and they think because bitcoin is expensive, they really cannot buy or trade it not, but they don’t understand that they can still trade any part of bitcoin as they don’t need to buy a whole bitcoin before they trade or make money from it, so they go for some of these cheap and low quality project promising to give them exactly what bitcoin can offer them.

[BitcoinsGreat]

if you often use certain exchanges, of course, also memorize the characteristics of all the coins in it, this is a prerequisite to make sure you know the direction of each coin's chart.

It's okay to be tempted by candles with a potential reversal but first make sure the coin is still in the buying zone and its tendency to touch resistance, so don't analyze it instantly, the pattern of shitcoin is also able to breakout in one day.

I think we should select few of the coins in which we are interested and keep following their charts and news. I will recommend to keep 70% portfolio from top 20 coins in coinmarketcap.

There are pumps and dumps in Bitcoin as well and those who traded it in the last few months experienced them first hand. Going into bitcoin trading and especially trying to trade with leverage will make them play you like a fiddle. That's what those fast moves of 1k BTC on Bitstamp are meant to do. Liquidate all the leveraged suckers and influence exchanges with higher liquidity.

I normally do no like pump and dump coins or leverage trading because the risk of losing money is very high in them.

[wildan88]

shitcoin pump and dump, like play gambling, although sometimes the coins up to 10-20%. but before we buy, they have bought from the bottom, and we buy from the above, which in the end, they are rich and we are poor. many lay people are trapped this way because I have also experienced things like this, so I lost a lot of money around 50% at that time. most things like this on telegram channels, even premium channels do this, so be careful and never join.

[The Sceptical Chymist]

The FOMOs are trying to get rich overnight, but ended up loosing everything.

If you have a fear of missing out on profiting from a shitcoin, you're being really, really stupid--and greedy.  I can understand that emotion when you're talking about bitcoin when it's booming like it did in 2017, but for one of these typical pump & dump shitcoins?  Come on.  You'd have to be a complete noob to fear missing out on one of those.

I agree that everyone should avoid altcoins that suddenly start rising unless it's because bitcoin is rising concurrently and only if you're talking about one of the better altcoins, and there aren't too many of those.  When I think of pump & dump coins, I think of those shitcoins on Yobit that go for 1 satoshi and occasionally you see them jump to 2 or 3 satoshis and you know someone is doing that on purpose.  It's easy to pump a coin like that because it doesn't really cost that much and there are usually tons of sell orders and no buy orders in sight.  Those are the coins every trader should avoid at all costs.

[barbara44]

I also don't believe in new coins. I twice invested in coins turned out to both be shitcoin. it's better to invest in bitcoin. but I also still believe in old altcoins like ripple, litecoin and ethereum. Even though the altcoin market is experiencing a decline I still believe in the altcoin that I hold. I am optimistic when bitcoin goes to the moon and the coins I hold will also increase. but of course my main investment is bitcoin.

I understand how painful it is to put money in a project and to later see that such project is a scam project or turn out to be a very bad project, but I don’t think that we should because of that now condemn all coins that are in the market and are starting up newly.

If we take a look at the environment where we are living now, we will see that we have lots of bad people in our neighborhood, but that has not made the authority to just come and judge everyone around that place as a bad person, they take their time to investigate the neighborhood in other to spot out that bad ones which is what I think we should be doing right now too because if we keep condemning the new projects, how can we get new innovative to come out of this Blockchain technology.

[Mike Mayor]

This is because of greedy idiots that buy a coin based on price rather than value. They want to get rich overnight and they honestly deserve what's coming to them for being so greedy AF.
How can you say that trading and investing in bitcoin is the only way to profit? I wish people like you would get that bitcoin is not the only currency. Then to make matters even worse you then go and say that
"BTC's price fluctuate to the point where you can make nice profit trading with even $500." Doing arbitrage? I don't think so. You are confused. "but it's almost always a sure thing" now you just talking nonsense.

[Blawpaw]

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.

That's why we shouldn't chase after pumps. Information is key in the line of business. Either you have it or you don't. An experienced trader will never chase a pump, and will not succumb to the incredible urge of getting in, so these Sharks only suck the blood out of the inexperienced or the new guys in town. For those who follow cryptos for a few years now, we already know that if you don't know what you are doing, crypto trading will be much like putting money into a ponzi scheme.

[Wintersoldier]

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.

In this scenario, the most appropriate thing to do is to try to be like whales, try to understand how they move and make a decision. Once we understand how decision is made, we can be like them, or if we can't try to be always updated, if we can see a huge whale moves, follow their trading patterns, because we already know how powerful they are in controlling the market so if we are on their side other than thinking this is a huge ponzi scam, eventually we can earn as well. In addition, we should also consider market analysis in terms of technical and being updated about the news.

[proxydomain711]

It's always the manipulators game. These whales are what mostly drives the prices by instilling FOMO in investors minds and trying to swim with these whales only ends up being beaten to loss when you did not watch for the prices.

Also considering that there are literally tons of altcoins currently swarming the market, these altcoins could be considered as shitcoin already since they do not bring any real-life practical advantage to any other coins currently existing. Too much competition makes most of the competitors irrelevant.

Investors looking at these shitcoins are only speculating, way higher than speculating in bitcoin. It's primarily a get-rich-quick scheme, where if you get lucky and hodl some of a specific shitcoin before whales even flood its market, then as soon as the bubble is about to burst, sell all your holdings and never go back again.

That's what I think shitcoins are now for. Nothing worth investing in terms of technology and revoltionizing digital currencies, just pure speculation.

[xiboothrezi]

Trading is about analyzing to get the right timing. and Fomo is one thing that must be avoided, feelings can defeat logic, for fear of being left behind to go along with the market without knowing that it is over the edge.

In this scenario, the most appropriate thing to do is to try to be like whales, try to understand how they move and make a decision. Once we understand how decision is made, we can be like them, or if we can't try to be always updated, if we can see a huge whale moves, follow their trading patterns, because we already know how powerful they are in controlling the market so if we are on their side other than thinking this is a huge ponzi scam, eventually we can earn as well. In addition, we should also consider market analysis in terms of technical and being updated about the news.

Follow the flow pattern but do not drift. All of them synergized, fundamental analysis, technical speculation, trusted traders and influential whales. At least we can take it for, even if it is not as big as those who can play the market and take it from the beginning, well, being grateful is also very important.

[Waterfull446]

Why is everyone repeating Hodl! If bitcoin falls, I begin to worry that we will return to the trend of 6 and below. Doesn't statistics bother you? I still don’t understand whether it’s worth trying to understand trading or look for other ways to improve your crypto asset.

[WersicyMonree]

Why is everyone repeating Hodl! If bitcoin falls, I begin to worry that we will return to the trend of 6 and below. Doesn't statistics bother you? I still don’t understand whether it’s worth trying to understand trading or look for other ways to improve your crypto asset.

That is why they came up with this strategy. So that newcomers like you are not too emotional looking at market indicators. Didn’t you notice Bitcoin every few months begins to show a bearish trend. If in doubt about how to read charts, look at the manuals on the taklimakan platform, there is a course for beginners of crypto trading. Price reduction is not always an indicator of market passivity

[nutella_11]

Why is everyone repeating Hodl! If bitcoin falls, I begin to worry that we will return to the trend of 6 and below. Doesn't statistics bother you? I still don’t understand whether it’s worth trying to understand trading or look for other ways to improve your crypto asset.

Holding means that it's good to hold for a certain period and sell when it's great time to do it. Now it's right time to buy, that's for sure, so calm down Bitcoin price is so attractive. I believe that 2020 will be better than this year. You don't have to trade cryptocurrencies, so you don't have to use any of the cryptocurrency exchanges. Just buy bitcoin on the online cantors (like for example BuyCoinNow, credit/debit card is all you need to have), hold and be patient. This is the long-term investment.

[Gotumoot]

Not only in the bitcoin we wil have a sure profit, but also in other reputable coins like litecoin, ethereum and many others that actually guarantee us that we will earn here in a long run. So when we stop investing in pumps and dump coins we can help ourselves to find the right ones to give us a safe income.

Pump and dump and just like gambling, when you bust and you don't sell it will definitely drop its price and you may be the victim here.

[Kprawn]

I see these Shitcoin pumpers as the wannabe early Bitcoiners, where they get in early and buy a bunch of coins for a very low price (even getting

some for free) and then hyping up the coin in the hope of making millions. The problem is, too many people are trying the same thing and this

strategy has become the norm now, so people are dumping it too quickly... before it can even make them a proper profit. One or two of these coins

manage to last a little bit longer than the rest and the price just stagnates for months. (no room for day traders to profit)  

[adzino]

Those shit coins are actually very risky to invest on, but I have seen people making profit from it. Those who get in first and also dumps first before anyone else are the ones that makes the maximum profit (usually the developers). Though the risk is never worth taking. You need to be extremely luck to make profit off them. But, don't even think of investing on those coins. All you will be doing is encouraging them and others to create more such pump and dump coins.

[Sexaphiliac]

OP, I could not agree more. Many are looking to gain massively by investing in alts
 
Alts may have a greater chance of returning more profit on investment but there is no guarantee that many of these altcoins will not have phased out and become abandoned. Let's be careful in what we invest in to prevent misguided losses.

[jostorres]

I don't know why a lot of people are fond of these get rich quick kind of thing. As long as I'm making an income I feel is okay, I wouldn't bother too much.

It's just like some of my friends that are always looking for a means faster means of getting rich. None of them have agreed to invest in Bitcoin because I told them that there is no guarantee the price will go up and that bitcoin is risky, you can lose at anytime. They all thought at first that the price of Bitcoin keeps going up and there is nothing like loss, but since that's not it, they have decided to stay clear from it. Investing in Bitcoin is all about having patience and investing what you can afford to lose.

[boris singer]

Those shit coins are actually very risky to invest on, but I have seen people making profit from it. Those who get in first and also dumps first before anyone else are the ones that makes the maximum profit (usually the developers). Though the risk is never worth taking. You need to be extremely luck to make profit off them. But, don't even think of investing on those coins. All you will be doing is encouraging them and others to create more such pump and dump coins.

can be detected by filtering since the coin was pump & dump last time. Maybe it will never touch the same price again, but the percentage of pumps is not much different from before. the most important thing is not to participate when the hype arises, that's where they spread thousands of nets to eat lots of fish tempted by a sudden increase.