There's a Pump 'N' Dump group in town. A lot of new users are joining ever single day who are excited to throw their money away to have a chance to double possibly even triple their original amount they spent on a coin that the group decides on. I'll talk about the Discord group further down the post but first...What is a Pump 'N' Dump?
A Pump and Dump group consists of participants anywhere to a few 10's to 1000's of people. The bigger the better!
The main target of a Pump 'N' Dump group is to blow up small coins which have a small volume by hyping everyone up and buying a certain coin at the same time. This causes the price to sky rocket! Everyone love to see those green candles after they spontaneously purchase coins. The best way to buy the coins is to buy them in small amount while the price goes up and after a certain amount of time (when there's no-one buying anymore) the price plummets back to rock bottom, sometimes even past that.
Here is a classic example of what a pump n dump looks like (See picture below).
As you can see that big spike is the result of a pump. What ever goes up must come back down.How Does A Pump Work?
An example of a Pump 'N' Dump scenario is of a former- wall street stockbroker - Jordan Belfort. He became a very rich individual by choosing a penny stock and riding the wave to wealth. He basically told people that they would make a lot of money with that certain stock that he was promoting. If you haven't watch "Wolf Of Wall Street" I suggest you do it's a great movie, lot of drugs and strippers, lmao. It's illegal to do what Mr. Belfort did (I kind of look up to him), but crypto-currencies aren't regulated yet so it a perfect get rich quick scheme.THE DISCORD PUMP GROUP- GOBIG
The group is affiliated with the Youtuber @avilsd. He runs a cryptocurrency based channel, known only as Kubera as well as multiple other channels. He...