[Reality]What is pump and dump group in cryptocurrency?

in #cryptocurrency7 years ago

Well... Suppose you and few of your friends decided to earn some money...

  1. target a coin.
  2. buy some of it.
  3. make a pump and dump group.
  4. tell that you will be pumping that coin.
  5. make a fake buy to start the hype.
  6. set Ur sell price to some amount higher than what u bought at step 2.
  7. all the goats and cows u gathered in your group will buy and try to push the price.
  8. you and your friends are rich and u have successfully sucked out the money from the goats and cows.

It's a good plan since everything is anonymous.

Hence... It is a SCAM!!!!!!!

I have never been a part of a pump and dump group and it's my advice to you all that please avoid it. If you want to do charity....go somewhere else.

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