4 ms·
I've observed these telegram groups in action and have followed the execution of their campaigns. True, they market them for days but the spike and drop in pric
by cik2e 9y ago
I've observed these telegram groups in action and have followed the execution of their campaigns. True, they market them for days but the spike and drop in price is indeed quick to the tune of minutes. The organizers load up on the coins ahead of time and are basically preying on their unwitting followers. If you hang out crypto telegrams or slack for long enough you'll see that the organizers spend pretty much all of their time recruiting newbs for the next pump.
- yclept 9y agoExactly the same outcome as Runescape "merchanting" aka pump and dumping where the majority of the participants were looking to make a quick flip and end up screwed over by the organizers who bought in much earlier start selling early as well. I think much of what is happening in the crypto currency scene has played out in virtual economies a decade earlier and irl for hundreds of years prior.