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Author Topic: Stay Away of this scam Coin  (Read 824 times)
Pffrt
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January 22, 2020, 08:00:13 AM
Merited by CryptopreneurBrainboss (1)
 #1

As you can see this coin has risen 600%, the coin is only listed in Crex24 which is another home of scam coin. Don't invest your money on this sick scam coin. Check the image from Crex24 too. All the order is very small which are created only to pushing the price by DEV team or a group of people. Most coin listed in Crex24 are scam mostly. Stay away. Happy trading  Wink

By the way, this is a great signal of altcoin season. This is not a piece of financial advice.



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January 22, 2020, 08:50:47 AM
 #2

And i bet many who have the coin must have make good profit out of the coin, looks like a pump and dump project to me, here is the fact some crazy investors prefer to invest in this type of coins just for the pump profits, they prefer this over legit coins that they have to hold for years to see such big gains

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January 22, 2020, 08:57:00 AM
 #3

I'm sure some people will still go on investing on it despite the early sign. Instead of allowing the coin to dump and die a natural death but they will invest to pump it. I once invested in such kind of coin and till today, I have regretted it.
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January 22, 2020, 09:01:11 AM
 #4

I'm not saying I support this coin (I know nothing about it), but is the pump the reason you're calling CVCC a scam?

The number of orders in the order book is way too low, and the difference between them is huge. That's why you see such a big percentage increase.

The volume is ~$100k. Liquidity isn't shown apparently, but taking a short look over the order book and the amounts of CVCC per order is enough to see whether the price change is artificial or not.

And lastly, how is this a good signal for the altcoin season? How does a $100k volume coin influence even 5% of the markets?
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January 22, 2020, 09:10:08 AM
 #5

I think the picture of the order on the hitbtc exchange is almost a little similar, I have never heard much about the crex24 exchange, it looks like the exchange is still new and not sure I want to trade there, I see sell orders and buy orders not so many coins are traded, it seems that the address The deposit is locked in the exchange. Maybe that is what is being played by the pump group where everyone cannot make a deposit and the pump group can play the price on the exchange with the stock available at the exchange. I usually avoid altcoins that rise above 100%, which is very unnatural and have to be careful like BSV

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January 22, 2020, 09:26:33 AM
 #6

I think this is one of those highly fluctuating coin like HOLO(HOT) wherein only the risk investment can be made and we need to stick ourself to the exchange in order to cashout or convert to stable coin once the value starts dropping because these coins may give huge profit as well as a terrible loss. I don't think I could personally term it as a scam just because of volatility.

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January 22, 2020, 09:34:52 AM
 #7

And i bet many who have the coin must have make good profit out of the coin, looks like a pump and dump project to me, here is the fact some crazy investors prefer to invest in this type of coins just for the pump profits, they prefer this over legit coins that they have to hold for years to see such big gains
that must be the early adopters of the coin, im seeing that in the market right now if this coin was getting a huge dump again from two digits to the single digit. Investors will never try to invest in a coin like this one and just a few speculators who are riskying their money to create a manipulation on the price. AFAIK the team itself who issued this coin didn't even know if this one gets pumped.
A huge gap between sell and buy order make it happen.


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January 22, 2020, 09:43:21 AM
 #8

thank you for the info, I have never heard of CVCC coins, but after seeing the facts you gave, I also agreed it is better to be careful, because most of the characteristics of a scam coin are buy and sell orders are very few, even though the price increase is 200 % to 500%.

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January 22, 2020, 09:43:53 AM
 #9

Thanks for this quick information, i believe it would save someone out there from investing into this coin. CREX24 has never been my favourite when it comes to exchange platfoms because something don't seem pretty transparent with their activities. Charging high fees from trading and also the  practices of wash trade is very common on this exchange.

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January 22, 2020, 09:59:46 AM
 #10

I think, only fools who want to invest their money to buy coins that have gone up to 600%, because it will only make a loss there. after the fish enter the net, "BOOM" and ends. The OP is smart enough to judge the market situation.

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DonFacundo
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January 22, 2020, 10:00:30 AM
 #11

This is my first time to see this coin, what a funny name CryptoVerificationCoin lol.. Interesting it was pumped so high, but I expect it will dump anytime, another scam coin in the market.

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January 22, 2020, 10:04:21 AM
 #12

I don't see any team members on the website's About section. I also don't see a physical address listed on the website. These are red flags based on my experience.
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January 22, 2020, 10:13:14 AM
 #13

The network still good, having 264 masternodes and 468 connections i can't says this coin is scam
refference : http://explorer.cryptoverificationcoin.com/

but maybe you are right, if we check whitepaper we will see the wrong company licence, registered at 2006 Huh
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January 22, 2020, 10:15:46 AM
 #14

I'm sure some people will still go on investing on it despite the early sign. Instead of allowing the coin to dump and die a natural death but they will invest to pump it. I once invested in such kind of coin and till today, I have regretted it.

of course more people will come to this, and they will wasted their money for investing here, hoping a big profit but they totally wrong.

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January 22, 2020, 10:22:10 AM
 #15

I'm sure some people will still go on investing on it despite the early sign. Instead of allowing the coin to dump and die a natural death but they will invest to pump it. I once invested in such kind of coin and till today, I have regretted it.

Not just sure, many will at thus junction invent their hard earn money into this well known scam project, at the end they will blame the community as a whole, just like of recent. "I lost my bitcoin because I forget my private keys", we raised alarm and they still fall into the same pit: greediness.

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January 22, 2020, 10:24:07 AM
 #16

I'm sure people will do twice as much research before investing in a coin that already passes 600% in less than a few days. The amount of 24h trading volume around 12 BTC are not much and could be well pump by anyone or group so yeah, your finding is spot on. Thank you anyway.

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January 22, 2020, 10:47:35 AM
 #17

I'm sure people will do twice as much research before investing in a coin that already passes 600% in less than a few days.
The price yesterday was $3 or around and within 24 hours, it has increased $6 when I gave the last update. Price has now been $7 which seems the pump group was able to attract some newbie. They gonna lose for sure.

And lastly, how is this a good signal for the altcoin season? How does a $100k volume coin influence even 5% of the markets?
Right before an altcoin bullrun, a lot of shitcoin gains more than 100% each day and following the dump within an hour too. That's a historical call. That's why I said that.
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January 22, 2020, 11:11:10 AM
 #18

Seeing a coin pumped is not an indication that it is a scam.  Op should have given a more strong evidence that the coin is really a scam.  If we look at the market history, almost all cryptocurrency were pumped hard Bitcoin included.  So it is (being pumped hard) not an indicator whether a cryptocurrency is a scam or not.  It may fall to a pump and dump shitcoin but we needed more evidence to say it is really a scam project.
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January 22, 2020, 11:13:43 AM
 #19

This is my first time to see this coin, what a funny name CryptoVerificationCoin lol.. Interesting it was pumped so high, but I expect it will dump anytime, another scam coin in the market.

Such coins always have problems with liquidity, which means that the price increase is due solely to volatility.
Of course, the recession will not take long, but only when the herd instinct works and people carry the money to invest in this coin.
This is what will create liquidity and an opportunity for sale to those who arranged this manipulation.
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January 22, 2020, 11:37:16 AM
 #20

And i bet many who have the coin must have make good profit out of the coin, looks like a pump and dump project to me, here is the fact some crazy investors prefer to invest in this type of coins just for the pump profits, they prefer this over legit coins that they have to hold for years to see such big gains
Compared to choosing to hold or invest in the long run it is better to do it that way where we can buy coins that we think can pump and then sell them when the price is pumping, but the problem is that we have to be able to estimate or determine whether the coins that we will buy can pump up and in the end we can make a profit from the coin.
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