- 00:01 – Introduction
- 01:11 – Reason For This Topic
- 01:53 – What Is A Pump?
- 02:33 – What Are Whales?
- 01:11 – Reason For This Topic
- 01:53 – What Is A Pump?
- 02:33 – What Are Whales?
- 11:05 – Would You Join A Pump And Dump?
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Hey guys what’s up I’m Dan from Crypto Camacho, where each day I guide you through this crazy cryptocurrency revolution. Guys today I want to talk about a topic that’s really,really interesting to me, it’s a bit controversial but it’s super interesting and I’m very, very curious on what your thoughts are, if you as a participated in anything like this before or and or if you would participate in anything like this in the future. What I’m talking about guys today, it’s cryptocurrency pump and dump schemes. Scheme is probably a strong word but when you Google cryptocurrency pumps you get all kinds of results, how traders pump and dump cryptocurrencies, interviews with cryptocurrency pump and dump telegram group, what is a cryptic currency pump? Now there’s even a ‘pump my coin’ group, the number one altcoin pump community, and we’ll look at that in just a second here but first I want to just talk about what pumps are, how people are starting to use them and cryptocurrency. And then lastly I want to talk about if there are ethical, like would you guys participate in a pump and dump? Would you not participate? Do you think it’s ethical to do it? Do you think it’s market manipulation? I mean it’s definitely manipulation but is it is it ethical to do or not?
01:11-Reason For This Topic
The reason I’m bringing this topic up is because you see it more and more and more in the cryptocurrency markets, let me give you a couple examples, so if we go to Coinigy and you look at some of these charts I’m going to show you a few examples and then we’ll get into this a bit quicker, but clearly right here, this is a pump right, this is clearly a pump, right? We’ve seen a pump from, let’s see, you know, this is a…how much a return is this? This is a 360% return literally within a matter of like 24 hours.That’s definitely a pump, this is on Tron and it’s a pump, it’s arguable that there’s another pump here, I don’t really think that was a pump but this is certainly a pump.
01:53-What Is A Pump?
And what’s a pump? A pump is when a group of people get together in typically it’s tens of thousands, if not hundreds of thousands of investors will get together in a single group and they will all buy a specific altcoin at the same time, right within the matter of a couple minutes or even a matter of a like a half hour or an hour or so. They’ll buy that coin all the same time and they flood the market, they flood that coin’s market cap with thousands, tens or hundreds of thousands if not millions of dollars in new investment which ultimately pushes that price up. That’s what a pump is.
02:33-What Are Whales?
Now pumps are not extremely uncommon in the cryptocurrency space because some of the prices and the market capitalization of some of these coins are so low that it doesn’t actually take a whole lot to pump a coin up and there are whales, they’re called whales. Those are investors that have a very, very sizable portfolio that they can use to actually manipulate the cryptocurrency markets. They can invest one hundred million dollars into a single coin or they can invest ten million dollars into a single coin and essentially manipulate the price up or down, depending on how they actually play it, so that’s what’s called whales, and we’ve all known about whales, we all know those are in the crypto currency markets, we all know that there is market manipulation by these whales, by these very, very large, wealthy investors, they manipulate the market so that they can make money, that’s very common in the stock market with derivatives and with other things, it’s also very common in the cryptocurrency space.
03:30-Are Pumps Ethical?
So the first question is: is that ethical? Is it ethical for whales to manipulate the market, to pump up or pump down a price of a particular altcoin? And if they can do it, if whales can do it, the people, the investors with big portfolios, with a lot of money in their pockets, if they can do it, why can’t the little people like us do it? Why can’t you and me participate in something similar by grouping together in actually doing a price pump? I’m not saying I condone this, I’m not saying I endorse it, I’m not saying I am part of any pumps. I’m actually not part of any pumps whatsoever, but the topic is very intriguing to me and the reason it’s intriguing to me is because I saw a quote and it was saying something to the effect of you know whales will never hold us down, we do not fear you whales, we the people will overcome something to that effect. And especially what these pump groups are trying to do is give power back to the people, to start making profits and to combat these manipulators in the market by becoming manipulators themselves. So now I know that’s not necessarily a 100% ethical thing to do but I don’t really know? This is again the Wild West and I’m kind of curious about your thoughts, your philosophy on whether or not this is OK to do, to band together with a group of investors, hundreds of thousands of people in some cases, and then to buy a particular coin at the right time to make profits, is that ethical? What we’ve seen in the recent Bitcoin, I saw a pump group has approached me recently and asked me if I wanted to participate and so I’m kind of just checking it out, kind of just seeing what they do, and what struck me is very interesting is that the organizer of this pump group was very angry at the recent market crash a bitcoin, and a lot of people lost money in the recent market crash, a lot of people lost a big chunk of their portfolio. And the pump organizer came to me and said ‘look we’re going to help people recover their losses by organizing a massive pump to pump up the price of a particular altcoin and if you invest in it you’re going to make some money. So that’s how it was approached to me, and so it got me thinking of is that OK to do? Is that really OK?
Let’s take a look at a couple other examples of pumps. I just showed you Tron, that’s a big pump. Another pump that we’ve seen is XVG. If you don’t think it was a pump, you’re crazy, there were a couple pumps, there was one right here, 290% increase in 24 hours, here is another pump here 220% percent increase again in 24 hours or less. Here is another, I wouldn’t say this is quite as much of a pump, it’s 60%. Right here, these two are certainly pumps. Was it pumped by a whale? Was it pumped by one of these pump groups? I don’t know?
06:24 Cnd Pump
Let’s get another one, CND. This was clearly a pump, clearly! And this was recent, this was just yesterday, two days ago, there was clearly a pump. When the entire market was crashing and going down, all the sudden CND shot way up through the roof, that is definitely a pump, and how much did it pump? It pumped 340% approximately, that’s crazy, 340% on your money like that, within a matter of minutes, within a matter of hours.
Another one, potcoin, another altcoin, pumped like crazy. It’s pumped multiple times like right here pumped up 326%. Right here pumped again, pumped up 379%. I mean this is just crazy, this is just crazy, just ridiculous how much these are pumping up.
07:11-Invitation To Join A Pump Group.
And my question is, is it ethical? So, let me give you an example again of how this actually works, so what happens the invite that I got from this pump organizer, it’s for discord. Discord is an app that people can use anonymously, and here is the discord app right here, to basically create chat groups. It’s chat groups, it’s online chat groups that are anonymous that you can participate in and chat. It’s kind of a Slack or a Skype or something to that effect. Here’s the pump group, it gives you the rules of the pump group, pump info, when it happens, how it works what all this stuff means. And you can look at the discussion, there is a discussion by rank, and the rank comes if you invite people to the pump group you get priority, you get seniority and you can participate in this discussion group. I cannot right now because I haven’t invited anybody to the pump group. I don’t know if I will because I’m just kind of curious to explore this and see what you guys think about it, but you can clearly see people talking about pumps, people talking about the current market conditions, some focus on speculating on what the next coin pump will be and the thing is that they don’t actually tell you what coins are going to be pumping until the time of the pump, literally within seconds or minutes of the pump itself. On the Discord app, they do notify you when they say open next pump will be blah, blah, blah, blah blah. So here’s an example of when another pump will be, it’s going to be on Saturday the 20th, I will probably post this video after the pump and I’ll show you happened, but on Saturday the 20th, eastern time, there’s going to be a pump in 19 hours so, they’re notifying people of the pump. Pump is going to be on finance actually so that’s pretty interesting, but they’re not telling you what coin they’re going to pump until the very last minute.
08:54-How Pump Groups Are Organized
What they do is they tell you to get on the Telegram app. Telegram is a mobile app that you can use on your iPhone or an Android app, it’s an anonymous messaging app on your smartphone that you can essentially engage in chat and create these big, large organized groups on Telegram app anonymously. They’re using a combination of Discord and Telegram to organize these pumps, they’re going to YouTube folks like myself, they’re saying ‘hey, help us organize these pumps’ and giving the details on that, so forth and so on. What I’m really curious about is what you guys think of this, and I wanted to show you real quick, there’s even a Web site called pumpmycoin.com, and I’m not promoting or endorsing pumpmycoin.com, I just stumbled upon it literally five minutes ago, and I’m kind of curious how it works and you know maybe I will put the affiliate link in my video, I don’t even know if they have an affiliate program. You join this pump group, Pumpmycoin it is a cryptocurrency voting community that will choose the next coin to pump. Unlike the other pump and dump scam groups, we keep monitoring the market in order to maintain its uptrend and make sure that our community members are satisfied with their gains. You can check out how this works, you can definitely go here and check it out, I barely even read over the site myself, but the reason bringing it up, again, is because this is new to me, and I’ve known that these manipulators exist, I’ve known these groups existed, but I’ve never seen an organized effort to bring all these people together to do organized pumps like this and it’s truly, truly interesting, it’s remarkable to me that this is actually happening.
10:32-Articles On Pump And Dump
And you can see our other articles, The new hot trend in digital currency, pump and dump. How traders are pumping and dumping cryptocurrencies, and this kind of gives an explanation of how the pumps work, showing Telegram, here’s some telegram groups that you can become a part of, here’s how it works, the biggest pump community will notify you ‘Attention please, Will Release Huge VIP signal, depends on big news, is more than 60,000 participant member and three biggest Asian channels and they’re just telling you the details of how the pump is going to work.
11:05-Would You Join A Pump And Dump?
So, question to you guys, are pump and dumps ethical? Would you participate in them? Would you avoid them at all costs, and I don’t mean organizing them, I mean just investing money in a coin that is about to be pumped, signing up for Discord, signing up for Telegram and waiting for these pumps, becoming part of these groups would you do it? And if you would, why would you do it? If you wouldn’t, why wouldn’t you do it? What’s your philosophy on it? Is it ethical to you or not? Is it ethical to organize a group of pumpers to combat the market manipulators known as whales or wealthy investors who are manipulating the market, is ethical to fight back against it them with these pump and dump groups? I’m really curious to know what you think, of course, there’s a chance to make a lot of money in these pumps, I’m sure you’re obviously aware of that but would you do it? Is it ethical? I don’t know, I have mixed feelings about this and so I’m going to watch the pump go the next time around, I’m not going to participate in it I’m going to watch it because I’m curious to see how it plays out but anyway, I’m Dan from cryptocamacho.com. Please give me your feedback, subscribe to my YouTube channel and I’ll give you updates on the pump and dumps and how they’re actually happening and what happened this last Saturday and I’ll give you info about that but I’m Dan from cryptocamacho.com, please subscribe to my YouTube channel and I will talk to you later so you guys.