wry Posted July 19, 2019 #1 Posted July 19, 2019 One of the main tools for crypto enthusiasts is https://coinmarketcap.com/ . This site is like a home world for finding and learning about alt coins and new tokens. So it was interesting today to see a story about a guy in Russia who will use an array of bots to engage in trading on a couple of obscure exchanges to get coins enough volume to be included in coinmarketcap. Sadly, almost always it is basically a scam as once the coin is listed the founders dump their coins, crash the market and leave anyone who was willing to follow the promise of the coin holding the bag. If you like to trade alt coins, it really is worth the time to read the article. I found it interesting and depressing in equal measure. Interesting for the mechanics of how coinmarketcap lists coins, depressing because what so many of these alt coin founders are doing is basically scamming and giving reasons for governments to rapidly increase the regulations on crypto. Has anyone really been burned by investing in an obscure alt coin? How did you find it? Link: https://www.coindesk.com/for-15k-hell-fake-your-exchange-volume-youll-get-on-coinmarketcap
rajamishra Posted July 19, 2019 #2 Posted July 19, 2019 hello @wry me too also scammed by alts before few months some of our gambler friends involve all type of scam and looted in our gambling circle,before i know everything about the scheme of them ,they close all and looted our money what was we invested and left out from our circle.
nattekut Posted July 30, 2019 #3 Posted July 30, 2019 I think majority of the people felt for some ICO scams in the past. But that isn't difficult cause past few years over 90% of all ICO were scam or failed to deliver their stuff. but what I hate the most is that lot of projects with good intentions just get screwed by all those stupid bounty and airdrop campaigns.
wry Posted August 5, 2019 Author #4 Posted August 5, 2019 In a nice follow up to this story Coinbase has an interview with the founder of this company. Very worthwhile... https://www.coindesk.com/watch-ico-pumper-alexey-andryunin-talks-about-his-market-manipulation-business
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