ChainCoin - Synx - SafeExchange - Dope Coin - New Pump and hold Hype Scams

in #cryptocurrency7 years ago (edited)

Beware of the new type of hype Scam, Pump and Hold. Also hype scams by popular youtubers and how to spot them.

ChainCoin 90% dump and recovery. Keep reading for explanation.

Chain coin crash.jpg

It started with Chaincoin (CHC) on the Cryptopia exchange organized by a group www.highoncoins.com and a bunch of whales (high on coins community may have also been manipulated). They all bought into this coin at a very low price. You can see it on the graph. Then they all proceeded spam every facebook group, youtube channel or forum they could.

This is when I started researching this coin. I could find zero reason for any of the hype. The dev team was basically dead and so was the coin.

The price continued to rise and the spam increased. Whole groups were overrun, every post hijacked and it worked!

They encouraged everyone to help setup BUY walls, a large wall of buy orders so the price would never drop. A good plan. It kept the price from dropping over a sustained period. This is when the whales and people that bought in early make their money. The use these buy walls to cash out. They started with dumping the total amount of CHC by 40%, the buy walls cover most of this but there is a dip so other holders panic and sell out dumping the price further, this is where the whales buy back in. Rinse repeat with the buy walls feeding the whales. A brilliant setup by the Whales. Dumps of 20-40% occur several times but because of the poor charting system on cyptopia they are easily hidden and by the buy walls. Other charts can show 1min intervals such as the picture at the top and it captures the dumps.

Meanwhile the hype continues. At this stage if you got in early and you sold out you would have made 1000% profit or more.

Many people such as myself watching reliable charts are warning of how the scam is operating and it will dump hard soon. This is met with abuse and denial.

Sure enough it dumps hard. I saw 3 single orders placed for 2.3million USD. So there was some massive whales in there. The big dump came at 90% of the total coins dumped but because of the buy orders and peoples greed it mostly recovered, once people realized what just happend CHC has eventually dropped 60% in value and has slowly been coming down. That was a dump of over 30 million dollars, maybe even 40.

Chain coin crash.jpg

Just after the 90% dump and the panic it caused the hype group started spreading a new rumor. "Everyone is selling out and getting into SYNX coin".

This caused a massive spike in SYNX coin followed by big dumps. Again the same thing that was done to Chain coin was repeated on SYNX but it all happened much faster.

When buying a coin you should follow these basic rules. CHC basically only had number 1 and 6 on the list, nothing else and the community was a false community whipped up by hype. The hype often mentioned masternodes and how awesome they are with calculations showing you how much money you can make, but as the coin dumps it will lose all value.

  1. Community - Does it have a strong community backing the coin that want it to succeed.
  2. Value - does it provide value and can it produce a product people will pay money/btc for
  3. Platform - What stage are they are? Do they have something already working or near release?
  4. Unique - are they the only one doing it and can it easily be reproduced.
  5. Would you use it and do you believe in it? This is a big one.
  6. Hype - Is there alot of Hype and internet activity around it like twitter youtube facebook etc
  7. Research - Research - Research. Can't say this enough this is your best friend. Twitter, youtube, facebook, google etc
  8. Search for scam hack etc on forums.
  9. Read the ANN on bitcointalk forums. Check out their slack and telegram accounts as well as the webpage
  10. Find out everything you can about the development team
  11. Read the whitepaper or plan and roadmap. It will tell you what the money is for. Careful if they oversell their idea its a warning flag.

Now if you know how this works and you ride the wave and have an exit strategy you can make some serious coin.

A lot of people lost hard on SYNX because it dumped so quickly. They also tried several other masternode coins but people didn't really fall for it again.

It's Over right?

Unfortunately not, it gets worse.

The next falsely hyped coin is SafeExchange (SEC). It actually does get a few more of the things on the list. But there is zero reason for it to blow up now. There was no new news and the dev activity was basically dead. They maybe released a wallet update within the last year but i couldn't confirm. After researching for 5 mins I could tell it was just fake hype.

Of course the devs suddenly pop up when the coin takes off. Again you see heavy buy volume before the false hype is spread.
The price of SEC went up, it is actually a good idea but it is not unique and other coins are well ahead of it and active.

You will notice the hype videos never really give any reason for why the coin is suddenly worth more.

This SEC hype video was made by Etherium Evangelist. He has 7000 followers and likes to gloat whenever he makes a prediction that he is always correct. This is because his followers go out and buy what he says, so it is kind of true. I have followed him and his videos are usually not too bad. But this one gave no reasons to why it will go up and his prediction on price was way off. He predicts 2000% increase by the end of the month. So far is has barely doubled in price and is trending back down. His reasons for it going up is... "his ear to the ground, active dev and great platform". None of this is true. There is no platform or working product.

Next from the same guy we have a prediction on Dope Coin (DOPE) will go up 600-1000%. Again no news and no reason why.
He states in his video he got a tip that it will go up. I call bullshit. After researching I found no reason for it to go up.

What I did find is a high volume of purchases of DOPE coin right before video and other hype being released. Dope coin is a good one to hype. Because if one marijuana coin goes up in value all of them seem to follow. Again I noticed a lot of volume in those coins right before the hype is released.

Then you see dumping hard again on all marijuana coins. You can see they are trending back down to what they were. Dope coin only went up around 200% and is basically back to where it started.

I can't trust this guy anymore. He does not give any credible reasons. He uses hot chicks in the first one second of his videos to attract clicks as well, pretty sad.

Looking back at some of the history of his video there is a dump trend. He is just more obvious now because he is promoting shitcoins.

There is many others involved in this, I only target this guy because of his last two videos were spammed to the groups I belong to as proof they were about to rocket.

You can take advantage of these by getting in early and getting our early. Do not buy into the buy and hold crap. That is designed to lock in your money and give the whales longer to milk more people that get in late.

I have lost a lot of respect for many of the so called experts that got behind any of these coins without exposing the dangers. Sure get behind them and ride the wave but inform people of why it is going up and what is gonna happen next.

This was the perfect time to do this. All coins are at all time lows and dropping so inexperienced traders see a single coin going up and don't want to miss out so they all jump on board without doing any research.

I personally had zero stake in any of the coins. I spent around 2 days watching this shit show and worked out half way through the first day what they were doing. When I saw the spam about moving to SYNX I tried a little experiment and dropped $100 on SYNX and sold it 20 mins later and doubled my money.

I got in early and got out. I probably could have made more but I was just doing an experiment.

I really tried hard to warn people, the smart ones sat back and listened and didn't get involved. The supporter just abused those that said anything.

The even smarter people had bought into the hype heard what people were saying and got out at it's peak. Nicely done.

A few people would have made a lot of money, but in some of the groups I was in I heard a poster say "I'm grown man and I sat on my bed and cried all day". I don't want to be apart of that. I would rather make money on a platform and coin that does something awesome and delivers true value.

This post is not to say I told you so or anything like that. It is a warning. It is actually to early to say where those coins will go. Maybe they will recover and go to the MOON.

Here is one of them calling me a troll near when this all started for asking him to point out where the value of the coin is. This was when the coin was at 200% or $1 or something like that. I first started looking at this coin at $0.50.

Sort:  

I do appreciate you taking the time to expose the pump and dump scammers such as Vincent Briatore but I do not agree and accept you calling Max from HighOnCoins a Scammer on the comments section of the new article you posted https://steemit.com/cryptocurrency/@evilmonkey/vincent-briatore-the-ethereum-evangelist-scammer-sellout-shill-and-liar

That is not very nice and not acceptable especially when you have not done your research before claiming him to be a scammer.

Max is a good hearted person with only good intentions. I know this because I have been following him on his main Youtube Channel High on Android (https://www.youtube.com/user/highonandroid) long before the Chaincoin movement was ever started. His main channel has been running for more than 5 years and has over 75K subscribers. His other channel High on Coins only was made for him to chill and relax while he talks about the coins he is holding. With no intension to make an extra buck. Just sharing and spreading good vibes as he enjoys his breaks.

So getting to the point, it really hurts to see you calling him a Scammer. When all he wanted at first was to try an experiment and see if we can pump and hodl and go against the real scammers. Also the reason he chose Chain Coin is that it was a coin that had a Master Nodes and could generate it holders passive income.

Contrary to popular belief, dash copied the X11 mining algorithm that enables fast transactions off of Chaincoin. It also has a "darksend" feature that provides the same security anonymity feature as cloak and monero. And last but not least, it is a masternode.

The reason the coin dumped is because the leadership behind the movement for Chaincoin told everyone to put up buy walls to prevent people from dumping it. Traders exploited the situation buy trading off the buy walls and the top and whales went in for the kill by buying $192,000 walls, making 5% and then buying it all back. Since then, the leadership of Chaincoin has dropped that "wall" tactic. The coin is free to moon if it likes or crash and burn.

I know that we sometimes do mistakes and jump to conclusion but I kindly ask you to take the time and checkout both Max Youtube channel and I am sure you will change your mind on who Max really is. He is such a lovely person that only wants to help out others and make this world a better place and he will hopefully succeed in doing so. This is only the beginning of the movement and developing team of chain coin is back with great news that will be disclosed soon.

Once again I am not trying to go against you or show any form of hate. I hope you can take the time to do you research about Max and also check out some of the videos he made about chain coin. I am sure it will make you change your mind and we all unite against the same cause.

I dont know who Max is. So I don't really undedrstand your comments. You guys are mentioned briefly becuase you played a part. High on coins have been linked to several false hype movements and lies. You might be correct in saying Max is a good guy and I did say I think high on coins was probably manipulated from the inside, but you guys went along with it and you continued to spam every page and socialmedia platform you could.

Chaincoin has ben dead and abandoned for 2-3 years, dash is essentially the same except it has 2-3 years dev and testing on top, might have helped if you guys did your own research.

Your really just saying a bunch a sh.. with no real evidence from what I'm reading

I fully agree, Max build a community that fights the whales and can not be compared to the channel and predictions of Vincent, this last really predicts high pumps( while he already setup his buy order or bought in cheap and dump after he see's that everyone is buy in by dumping and this was tha last 3 days very visible, SEC, Dope, GRC and MYR... I think al his subscribers should dump him because he really betrayed them.

There has been others inbetween, plus hes is running at least 3 other scams people have emailed me about.

I loved your response man. I feel the same way! Thank you so much for sharing your thoughts. It hurts me deeply to see so many people talk trash about Max and his hodl movement.

man do you know the guy personally, if yes, do you go to his house how many years, really why you don't stop to think 2 mts m8, and yes scammer is one thing, fraud is other and be psychopath is other and for me the guys only goes where you let the monkey goes

The best post I've read all month. My thoughts exactly and you've backed them up with sound evidence. As you correctly say these coins offer nothing. Absolutely nothing. You can say this in the Facebook Groups to try and stop people losing their money, but the poor souls are so greedy, misguided or desperate, they actually shoot the messenger and defend the shit coin whale train. It's very sad to see.

P. S. I resteemed, really hope more people see your post.

Thanks will check out your feed. Followed

Thanks man appreciate the feedback. What you say is exactly what happend.

I'm sorry but ChainCoin is not a scam. We created a movement in the community and we never tried to pump the price but panic buyers and whales joined in for Quick Cash. This is a long term coin and It's meant to have a steady growth but the whales ruined it for new people. We are holding this coin till the end. We even brought the coin back to life by receiving contact from developers and new updates on the road maps are coming soon. It's so sad that people think it is a scam.

quality read !! it is so true about the spamming !! people are abusing the small fish !!

Thanks I hope lots of people read it and don't get caught out. But for people to win someone has to lose in these situations.

WOW...SUPER ARTICLE!! WELL DONE!! That Vincent guy at around second 0.21 said "mannaggia l'america" that's like saying "goddamn america" in italian lol wow I am a very cautious huy mainly because am "slow" lol and because I dont like to move in the dark...I wait till my eyes adapt to the new enviroment and spot a beam of light...if there are no light then I go to sleep without panicking lol...but just out of curiosity how fast in time value they dumped and how fast they hyped before dumping? I mean in the Vincent guy he called friday which was a week from there if I understood correctly but then did it dump on Saturday or what happened? Again great post!!!! I actually never thought I'd finished it all to be honest...;)

tumblr_ma5f9esvJD1rvkdlio1_r3_250.gif
"SOLID" POST

Codec message: I managed to open the graphs in another tab...DOUBLE WOW!! This things took place in less than a day lol this is a veryyyy tight game they are playing...people simply got to see this!!!

Good article, but the real problem is, who is behind those pumps ad hype spreading?
There is a raising in people talking about crypto, many noobs with money ready to buy BTC or ETH and send them to exchanges to buy what will make 'em more money.

What is happening will make you doubt of almost all the people out there, even the ones that claim to manage a community whom goal is to protect the coin and make it grow could be people who are just acting and making money by dumping huge loads.

The best thing as the author claims is to do your own research, and if you risk by buying on hype or because someone just told you about a coin, get ready to dump it ASAP with a gain. I think long term project are a way better investment, day to day trading is decided by the guys who drive communities and P&D groups, neither of them can be trusted.

Exactly. I never buy without going through my list 100%

Nice article! I watched the hype as well, luckily i went out of budget pretty early so there was never the chance to participate the PnD shit
Keep on the work - subscribed ;-)

I'm a newbie myself but watching and reading those comments on hype and dump videos just makes me pity them. I dont get into any coin or any recommendations without researching ....research, research, research!

As should anyone. What happend was Vincent used to give quality advice and people researched and became comfortable that his advice was good. Overtime they just trusted him and got lazy.

Pump and dumps are bad for the community. Some people buy in when it is high and then loose a lot of money quickly when it dumps.

CHC and Synx are both plump and hold, not pump and dump. Its the reverse of what you are claiming Synx to be.
BTW Syndicate SYNX, has held steady since two weeks ago and has a dedicated group of holders who are enjoying the benefits of staking coins and masternode passive coin generation. They dont care if the price is 30c today. They are holding and growing slowly over time. The pumpers and dumpers left the building. Whatis left is a hard core group of small investors and a funded developer team.

I think you really hit the nail on the head with this one. One of the best articles i read on steemit. I to follow Etherium Evangelist and I was wondering how he can make such a bold prediction without explaining the reason. I kind of like his videos except the last few about thin unknown coins. I was beginning to think I was the crazy one for not buying it since so many people follow the hype.

Exactly I used to kind of like his videos as well. He backed things up with facts and his predictions were not crazily exaggerated. To predict any coin is going to go up 600% right when 1st of AUG is hitting is crazyness in itself.

He even looks dodgy in those vids.

He also started campaign 10k to 1M in 6 days. His first pick was https://coinmarketcap.com/currencies/global-currency-reserve/ Just another pump and dump if you ask me.

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