I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??
It really depends on the project or the coin. A very promising coin that is backed up by legitimate investors and run by brilliant devs and invidividuals won't experience this kind of dumping in just a very short period of time. There are lots of groups in discord right now that are trying to invite people and giving signals on to where to pump and dump. I know this is somewhat a manipulation or a strategy but it could severely give bad impact on a particular coin or project.
I think pump and dump group doesn't hurt anyone, infact it makes the crypto trading become more interesting, people need to learn before they invest, if they don't do their research and just put the money then it's their fault, pump and dump group give more exciting chance to make profit
I agree with you on this. We really need to do our homework before investing our money to a certain project for us to avoid any losses in the future. Investing in crypto is very risky due to its volatility and there are lots of scam ICOs happening right now.
By knowing the background or the people behind the project you can really tell that the altcoin is a promising one. We should also verify the credibility of the devs working on it and the technology that it can bring to the society.
When it comes to the thought that you said about "pump and dump doesn't hurt anyone" I kinda don't agree with this since pump and dump could really affect the value of the coin. I know this is strategy of some groups of people to earn profit but mostly they are doing this to a certain coin that they think is vulnerable to this kinds of manipulation.