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/biz/ - Business & Finance

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26296954 No.26296954 [Reply] [Original]

Hi anons, I’m kinda new at this, was hoping you could answer something for me. What exactly is a “pump and dump”? I bought 100k of this “Rubic” the other day because anons here said to get some, but I keep seeing posts everywhere calling it a “pump and dump”. Does “pump and dump” mean that it steadily rises in value day after day? They make it sound like a bad thing but the value of my tokens has gone up $10,000 in 72 hours. How is that bad? I’m confused, please help

>> No.26297007

This is the pump, sell before the dump or suffer

>> No.26297021

>>26296954
the jews will have your money now

>> No.26297087

There are groups of people that buy up low cap coins, then start shilling them on social media channels to create a short term mania and sell into the pump (they might also buy more at that point to sustain the pump) until it dumps.
The fact that this group isn't interested in the (health of) the underlying project is what makes it a real pump and dump.
4chan is often the place where these groups come for the final step of this process, hence so many unsophisticated 4channers getting burned by buying at the top.
Rubic was also targeted by one or more of these groups, however, it got adopted by biz, because the underlying project is actually legit and people liked the cube memes. Now most wallets are biz owned.

>> No.26297123
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26297123

>because the underlying project is actually legit

>> No.26297141

>>26297087
this sums it up

>> No.26297143

Most pump and dump groups are working with tens to hundreds of thousands of dollars. Rubic gained real traction however, yesterday it had almost 20 million dollars in volume (way too much for any of these pump and dump groups to be able to generate) and now it's at 14 million volume (24 hr). That's more volume than the marketcap.
This signals real interest. It's also uniswap volume, very important because this can't be faked!

>> No.26297210

Now we see a couple of these pump and dumpers being very, very salty because they thought they played biz by "dumping" at a few cents valuation and leaving it for dead (they even made a couple of brag threads making fun of bizlets), but the price exploded to 20 cents and biz was having a shitload of fun.
They started a couple of limp-wristed attempts to discredit the project but I can safely say this is /ourcoin/ now.

>> No.26297244

>>26297087
>>26297143
Thanks anon, if I’m hearing you correctly it sounds like we’ll continue to pump, but volume is too high and /biz/ owns too much for a coordinated dump. In that case, why do all of these people on /biz/ and twitter continue to call it a pump and dump?

>> No.26297253

>>26297087
>>26297143
Personally im invested in project, because i saw their ama and they have real goals and they are doing it.
But i dont like these youtuber raids that gets them banned everywhere and just leaves bad marks on a token and the team... And I will wait to see how it goes after 28. jan and next ama, but this is top kek, bunch of kids promoting it everywhere giving pnd vibe.

>> No.26297257

So to sum it up, the project is legit (DYOR), was somewhat undervalued compared to other Defi projects, has now found a more reasonable valuation, has biz meme power behind it, is mostly biz owned, and has millions of volume without being picked up by any mainstream/crypto media/well known crypto influencers yet, and isn't on any notable exchange yet (millions of uniswap volume only, again, this can't be faked!).

>> No.26297264

>>26297210
>They started a couple of limp-wristed attempts to discredit the project but I can safely say this is /ourcoin/ now.
Nice, I think I’ll hold for a long while

>> No.26297340

>>26297244
There are or have been pump and dump groups involved, but think about it like this:
Most crypto influencers are pump and dumpers themselves. They buy a coin or get it for free in exchange for promotion, hype it up, then sell. Almost none of them cares about the long term health of the project.
Don't take them too seriously, and expect a lot of salt too from people who missed a x20 that came out of nowhere.

>> No.26297365

>>26296954
Here's the rundown
>>26296587

>> No.26297414

>>26297257
>mostly biz owned
Biz spammers creating wallets to generate fake interest out of the hype they create, selling massively and buying back.
They probably made over several millions so far.

>> No.26297459

>>26297414
You're really overestimating the power of these pump and dump groups. They don't have millions to work with in the first place, they were bragging about cashing out 50k usd.

>> No.26297601

>>26297459
If they went in at .03 with 10k they already made x40.
Hell i got in with 100(less fees) and sitting on 800.

>> No.26297677

>>26297601
The initial pump and dump shilling campaign guys cashed out around .03.
Also, I don't blame any anon cashing out when he 10x his money, good for them. A lot of bizlets made significant money these past few days. I'm staying in for the rest of alt season but we will see more dumps obviously.

>> No.26297708

Honestly its a cope, jeets already dumped.

>> No.26297765
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26297765

>>26297677
You really think that? Anon I...
They are still here, still pump and dumping. I don't mind i mean, i do it with them. High risk since i am not in on it but fuck it. My initial investment was very low and i got nothing to lose.

>> No.26297797
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26297797

Indians, PnD discord groups... it's all just the equivalent of the crypto boogieman.

Remember the Satsgang fud for RSR? All fud regarding Rubic reminds me of that. So many anons were hesitant in buying both, yet both rocketed sky high.

There may be paid Indians or active PnD groups, but they work on a much, much smaller scale.

>> No.26297916

>>26297765
this:
>>26297797
there isn't one group controlling this anymore, and many larpers in small groups, like the fags raiding other channels and getting banned.
Insignificant in the bigger picture now.

Even Link had/has these kind of groups that pooled at the presale then shilled on biz. But it has grown bigger than these groups now.

>> No.26298105

>>26297916
Every rb threads are manufactured, the shilling, counter shilling, fake pajeet posting. Just look at the 0.199 dump. There was no more threads, noone posting in existing threads. It's mostly just a bunch of organised cunts creating false controversies. They reply to each other, fud and shill at the same time to fake an organic hype.
You know there are many rich guillible retards here and most are hooked on green dildos. There is no stopping this wagon now, we'll see how it goes from there.