Quote from: mjglqw on July 06, 2017, 10:51:40 AM

Quote from: OmegaStarScream on July 06, 2017, 09:38:21 AM

I'm starting to see a lot of threads regarding pump and dump groups in the forums with some links to the Telegram groups associated with them. With all honesty, what do you think about these groups and do you support them?

I've came across pump-dump groups on online game markets in the past. While I'm not sure, I think it has the same methods and goals.

You may think you can make big profits, it's kinda unlikely, unless you can outsmart the system. The person who makes the most profit is the one who calls when to buy or sell whatever cryptocurrency, as he makes the first transactions.

Ex. Caller says "buy EOS". The price of EOS will then rise a bit depending on how many members the group has. But before the caller makes that call, he buys EOS first so he gets EOS on lower prices. Same concept when the caller calls the sells.

It seems I am beginning to understand what this is all about. I recently joined one on telegram though I have no idea what it was all about really but was just curious as to what it could be. So there is no possibility of someone not getting nabbed at the end by the leader of the so called groups. Not like they are helping anyone, they are mainly helping themselves by leading some of us who are gullible into a hot fire! I'm running away! I wish I have some trading skills, won't be bothering myself with all these shits.