Timeline of the ChainCoin Scam – Massive Cryptocurrency Pump and Dump Scheme
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Timeline of the ChainCoin Scam – Massive Cryptocurrency Pump and Dump Scheme
1–10 of 18 posts
Re: Timeline of the ChainCoin Scam – Massive Cryptocurrency Pump and Dump Scheme
#2I noticed the huge price swings of this orphaned coin over the last month ... looked very suspicious for a coordinated pump and dump. What I didn't know was that this was being done by a youtuber who basically stole money from his own followers through this scam. What a scumbag.
Re: Timeline of the ChainCoin Scam – Massive Cryptocurrency Pump and Dump Scheme
#3ChainCoin has no value proposition, nothing to differentiate it, and the dev team abandoned it a long time ago, so why would anyone purchase this crypto? It's the same with stocks; you have to be able to understand the financials, product, roadmap, etc. of the company you're investing in.
I've purchased a few altcoins with differentiation and solid dev teams behind them. And it's still a gamble; I expect most to die off.
Re: Timeline of the ChainCoin Scam – Massive Cryptocurrency Pump and Dump Scheme
#4Hello, please don't associate ChainCoin with Max(Highoncoins). Our community is very much alive as is development.
Please refer to the following site for development and to see the great work that one of the developers known as Brakmic performs: https://github.com/chaincoin/chaincoin/commits/master
Thank you
Re: Timeline of the ChainCoin Scam – Massive Cryptocurrency Pump and Dump Scheme
#5ChainCoin has no value proposition, nothing to differentiate it, and the dev team abandoned it a long time ago, so why would anyone purchase this crypto? It's the same with stocks; you have to be able to understand the financials, product, roadmap, etc. of the company you're investing in. I've purchased a few altcoins with differentiation and solid dev teams behind them. And it's still a gamble; I expect most to die…
My current picks are siacoin (devs seems smart, but had a few missteps, storage could be a real market in the cryptocurrency space), monero (seems like they're doing anonymity right), litecoin (potential for LN first mover advantage) and bitcoin (pure network effect). Care to share any of yours?
Re: Timeline of the ChainCoin Scam – Massive Cryptocurrency Pump and Dump Scheme
#6ChainCoin has no value proposition, nothing to differentiate it, and the dev team abandoned it a long time ago, so why would anyone purchase this crypto? It's the same with stocks; you have to be able to understand the financials, product, roadmap, etc. of the company you're investing in. I've purchased a few altcoins with differentiation and solid dev teams behind them. And it's still a gamble; I expect most to die…
My current picks are siacoin (devs seems smart, but had a few missteps, storage could be a real market in the cryptocurrency space), monero (seems like they're doing anonymity right), litecoin (potential for LN first mover advantage) and bitcoin (pure network effect). Care to share any of yours?
From what I understand, SiaCoin has almost no customers.
Re: Timeline of the ChainCoin Scam – Massive Cryptocurrency Pump and Dump Scheme
#7What country is this guy from? This is exactly the type of thing that the SEC would go after. Replace ChainCoin with any penny stock and this story has been told countless times. Only new angle is YouTube videos and Slack channels instead of boiler room call centers.
Re: Timeline of the ChainCoin Scam – Massive Cryptocurrency Pump and Dump Scheme
#8Cryptocurrencies are best described as being like penny stocks - they don't represent any underlying value or investment, meaning that prices are low and large gains can be realised through a small change in price - making them vulnerable to people manipulating investors as part of a pump and dump scheme.
From the Willy bot through to the latest ICO craze, the whole cryptocurrency scene is riddled with people engaging in pumping prices - which means that any reverses in price hit sentiment hard and cause price shocks, something I think we're going to be seeing a lot more of over the next year or so...
Re: Timeline of the ChainCoin Scam – Massive Cryptocurrency Pump and Dump Scheme
#9ChainCoin has no value proposition, nothing to differentiate it, and the dev team abandoned it a long time ago, so why would anyone purchase this crypto? It's the same with stocks; you have to be able to understand the financials, product, roadmap, etc. of the company you're investing in. I've purchased a few altcoins with differentiation and solid dev teams behind them. And it's still a gamble; I expect most to die…
> ChainCoin has no value proposition, nothing to differentiate it, and the dev team abandoned it a long time ago, so why would anyone purchase this crypto? It's the same with stocks; you have to be able to understand the financials, product, roadmap, etc. of the company you're investing in.
Same reason people buy deep out of the money call options or do leveraged FX trading - they just like to gamble. The whole FX brokerage business (and that includes crypto) is basically run like a casino.
Re: Timeline of the ChainCoin Scam – Massive Cryptocurrency Pump and Dump Scheme
#10I noticed the huge price swings of this orphaned coin over the last month ... looked very suspicious for a coordinated pump and dump. What I didn't know was that this was being done by a youtuber who basically stole money from his own followers through this scam. What a scumbag.
There was a not-dissimilar scam orchestrated by some popular Youtube channels last year, also mostly targeted at their own followers and fans: https://www.youtube.com/watch?v=_8fU2QG-lV0
They created a Counter-Strike "lottery" website and uploaded a lot of videos of themselves winning big, while never disclosing that they were the secret owners of the site. Of course, their supposed recorded lottery winnings were staged as a way to drive traffic and money to the site.