Ninjastic
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Board Altcoin Discussion
Re: Can you do a pump and dump with little money?
by
Maveth13
on 18/01/2018, 16:57:00 UTC
Quote from: VenturaBro on January 18, 2018, 04:48:38 PM
Quote from: naidray on January 18, 2018, 04:45:37 PM
Quote from: token lending on January 18, 2018, 03:56:45 PM
Can you do a pump and dump with little money?in a cryptocurrency
If you are aware of the needed things and concepts behind pumps and dumps then you would not have come up with such a question. Basically will not be possible for a small capital trader as a trader must be lots of money to buy more number of assets so that its price will go up and we are calling this pumping.

To dump, you must have more number of assets to sell so again it will not be possible with very little money. But group of people with (comparatively) little money can together can do pumps and dumps.

Do you know if the many pump and dump channels are effective at all? Still seems like a pretty big gamble to me so IDK if it's really worth it.

Of course it's high risk. If you're not fast enough you wouldn't be able to ride the pump and/or sell at the peak, making you lose money. Besides the whole thing is just horrific, the owner of the group buys some shitcoins then tells the group that the coin would be pumped so everyone would buy. It's mainly profitable for the owner, it's not worth it.