Watching the Train Wreck in Slow Motion

Xadoman wrote:https://www.youtube.com/watch?v=soY3cWtE3yc&ab_channel=ColinDigitsHow to turn 5 bucks into 5000.

Xadoman wrote:https://www.youtube.com/watch?v=soY3cWtE3yc&ab_channel=ColinDigitsHow to turn 5 bucks into 5000.

IBdaMann wrote:

Xadoman wrote:https://www.youtube.com/watch?v=soY3cWtE3yc&ab_channel=ColinDigitsHow to turn 5 bucks into 5000.

gfm7175, is Xadoman pushing another pump-n-dump scam on the day of the "dump" by touting the advertised price "pump" of the previous day?
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gfm7175 wrote:There is a 10% fee on all token sales (7.5% rewarded to "stakers", 2.5% burned forever.

gfm7175 wrote:If you "unstake" early, there's a 25% burn fee... otherwise, if you wait 8 weeks, you're all good.

from Brave New World

What is a crypto pump and dump scheme?

Pump and dump schemes are nothing new - they are a form of securities fraud that have existed for decades and originally focused on the equity markets. More specifically, on small-cap stocks. An equity markets pump and dump scheme works like this. A small group of investors select and purchase shares in a company with a low market capitalization, thereby causing an initial jump in price.

Next, call center operations – more commonly known as boiler rooms – call potential private investors with the aim of convincing them to purchase the stock by providing false information claiming the stock is about to experience substantial gains. Once enough investors have been misled into purchasing the stock and its price has risen by enough, the initial group of investors will sell their holdings to take profit, before the price collapses and all following investors make heavy losses.

This type of securities fraud has also made it into the cryptocurrency markets. While the modus operandi has changed, pump and dump schemes are alive and kicking in the altcoin market due to its unregulated nature.

These schemes target low capitalization cryptocurrencies and digital tokens that can easily be manipulated with low trading volumes. Instead of boiler rooms, the price pumps are conducted by spreading hype and fake information about a coin on social media.

The comments section of crypto-related videos on YouTube is a prime target for coin hype. For example, the Brave New Coin YouTube channel's comments section is moderated on a daily basis for potential pump and dump scams. In this scenario, people [like Xadoman] attempt to hijack discussions and inject comments about a coin they are trying to hype into otherwise genuine conversations.

As the examples below show, the format is easily recognizable - typically beginning with a thank you and then an inquiry about a certain coin or project. Posted on many other channels, these types of comments give the impression there is genuine enthusiasm about a project, whereas in reality there is no such groundswell of interest.

Communication among pump and dump group members happens on encrypted messaging services such as Telegram, where groups can contain several thousand members and are usually entered upon invitation.

In these group chats, a coin that will be "pumped" will be announced after the original perpetrator of the scam buys the coin. Within minutes, group members also buy and then spread fake news about the coin on social media, blogs and sometimes even on news outlets thought of as reputable through paid-for sponsored content.

Once the price has jumped, the initiators of the pump sell their coins, followed by other members in the pump and dump messaging group. Then the price collapses again, leaving all investors who bought after the price surge with steep losses.

from Brave New World

How to spot a crypto pump and dump scheme

The easiest way to identify a pump and dump scheme is when an unknown coin suddenly rises substantially without a real reason to do so. This can be easily viewed on a coin's price chart. Coincheckup, for example, has set a benchmark of a 5% price increase in less than five minutes as its indicator.

Also, when you see paid news articles about a small cap coin appearing in combination with a surge in social media activity surrounding that particular cryptocurrency project, this could be the sign of a pump taking place. If an entirely unknown coin with market capitalization of only a few million dollars suddenly appears all over Twitter and Facebook, one should be wary.

How to protect yourself from pump and dumps

Pump and dumps are generally confined to coins with very low trading volumes and market capitalizations. By avoiding illiquid cryptocurrencies, your chances of falling victim to a pump and dump are substantially reduced. Furthermore, not following investment advice on social media or from paid news articles will also prevent you from making preventable losses due to this type of market manipulation. You cannot be confident that crypto media organizations will have done any vetting of coins they feature, and oftentimes these articles are paid for.

A good rule of thumb is to remember that anyone promising that they know which crypto coin will pump next, likely has an ulterior motive.

A sudden jump in price without real verified news backing the increase is an indicator of a potential pump and dump scheme unfolding. Hence, if the price chart says a pump is underway, it is best to avoid the coin altogether unless you have done your research on the digital currency and its potential future value.

Xadoman wrote:Metavpad ido( initial dex offering) price was 0.001. Those who managed to get in early are sitting at 400x now.

* Date Open* High Low Close** Volume Market Cap

Dec 12, 2021 $0.3927 $0.4427 $0.3872 $0.4012 $10,654,786 $0
Dec 11, 2021 $0.3767 $55.07 $0.3462 $0.3927 $62,409,877 $0
Dec 10, 2021 $0.9427 $0.9427 $0.3347 $0.3772 $56,509,626 $0

Xadoman wrote:
https://cryptorank.io/ico/metavpad


ROI since IDO
USD: 384.26x (+38,326.2%)

IBdaMann wrote:

gfm7175 wrote:There is a 10% fee on all token sales (7.5% rewarded to "stakers", 2.5% burned forever.

This is identical to Safemoon's "poison pill" that renders it useless as a currency right out of the gate. Why would anyone buy into it?

gfm7175 wrote:If you "unstake" early, there's a 25% burn fee... otherwise, if you wait 8 weeks, you're all good.

Essentially, thou must HODL or we fleece you.

Well, let's watch over the next eight weeks. Mark your calendar. We'll see how MetaVPad is doing on 6 February 2022.

Current MetaVPad Price: $0.3969

IBdaMann wrote:
So, did you check out Pitbull this morning? Somebody got fleeced ... after being bent over furniture and reamed like a horse.

For most of the morning and the previous day, Pitbull had been riding pretty flat in the 14XX range. Suddenly, this morning at 06:07:12 Wisconsin time, while showing a price of $0.000000001460, the price was dropped to 0994 for one interval and one interval only, i.e. Pitbull directors went ahead and voluntarily coughed up a zero just to bilk the crap out of somebody.

From $0.000000001460 down to $0.00000000994, a 32% back load! Wow.

Of course, the very next interval saw Pitbull's price return right back to $0.000000001457 and maintained the 14XX flatline thereafter. This show was O-VAH! Move along people, there is NOTHING to see here!

IBdaMann wrote:
As long as we are going to add MetaVPad to our watchlist, let me see if I have this right ...

[snipped out a lot of very good information for space purposes]

Thank you for bearing with me. Now that I have brushed up on pump-n-dumps, let's talk about what we know concerning MetaVPad:

December 10th: MetaVPad becomes available for purchase to the public in secret, opening at a price of 94 cents ... but the price drops and MetaVPad closes at 37 cents. A group of insiders buys up large quantities at this price.

December 11: MetaVPad is pumped up to a token price of $55.07 ... and dumped at that price by the insiders who purchased the tokens the day before at a price between 34 - 37 cents. Colin Digits has a video already prepared to place on social media (YouTube) touting the excitement of the MetaVPad "project" and sharing his amazement at how it is "just taking off!" After MetaVPad is dumped by the insiders, the price drops and closes at 39 cents, roughly its previous price at the day's opening.

December 12: Xadoman exhibits all the behavior for which we are supposed to be on the lookout. He posts Colin Digit's YouTube video and touts all the excitement of cryptoland where one can "turn 5 bucks into 5000." MetaVPad closed the day at a token price of 40 cents.

Do I have all this correct?

Xadoman wrote:Solchicks is being released today approximately in one hour. The ido price is 0.05

Xadoman wrote:Raydium ****ed the launch of the Solchicks. I had 100 bucks ready to throw in.

Note: As I was typing this post, the Solchicks price steadily, and rapidly, dropped from $0.51 to $0.48 to $0.36 ... and is now at $0.28

Xadoman wrote:People are taking profits.

Xadoman wrote:5x is still good for those who managed to get into presale.

Xadoman wrote: I predict the price will go higher if the Raydium fixes its problems.

Yes, those committing fraud. These "people" are dishonest scam artists committing fraud. They are the cadre of insiders who are bilking the unsuspecting public.

Xadoman wrote:

Note: As I was typing this post, the Solchicks price steadily, and rapidly, dropped from $0.51 to $0.48 to $0.36 ... and is now at $0.28

I predict the price will go higher if the Raydium fixes its problems.

and he got it all for the bargain price of $4,000.00

Xadoman wrote:

and he got it all for the bargain price of $4,000.00

Told you, 2500 euros=around 2800 bucks.

gfm7175 wrote:
DeFi update:

Every single tracked item is declining in "price".

IBdaMann wrote:

gfm7175 wrote:
DeFi update:

Every single tracked item is declining in "price".

The "Tracking" has been shifted to the new thread.

I'm hoping we can focus on the evolution of Safemoon from a pump-n-dump, through its value-bleeding through a shared blockchain, to its dependence on hype and HODLer desperation to initiate new rounds of fraudulent activity, to the petty dishonesty of brazenly fleecing people trying to simply play the game.

In particular, I was wondering if perhaps we can extrapolate and predict events and trends with other cryptosludge. For example, Cardano has no shark's teeth today. Can we predict that it will, and when?

Safemoon has been the consummate example of completely dirty play and it would be a shame for there to be no lessons learned to pass onto others.

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IBdaMann wrote:The question that remains unanswered is whether this is the final stage of crypto-geriatrics and the directors will soon find it in their financial interests to just pull chocks and drain the liquidity pool to invest the funds elsewhere ... or whether they still find the current state of affairs worth leaving the liquidity pool capitalized.

IBdaMann wrote:
So which medieval torture device is Safemoon?

... and without further ado, here's Safemoon!
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gfm7175 wrote:Safemoon's latest is a beauty...

08:10:08 Wisconsin time: $0.000001514
08:15:08 Wisconsin time: $0.000001717; price increased 13.4%.
08:20:08 Wisconsin time: $0.000001499; price returned to prior level.

Never mind me... Nothin' happened, I SWEAR!

Now we know how it ended. Rather anticlimactic, if you ask me.

Xadoman wrote:Nothing has ended. It is just a little "boob job".

IBdaMann wrote:
Everybody, please take a moment to look at the Safemoon price chart (which is now serving as the price chart for the Version 2 of Safemoon, the original Safemoon having been scrapped and discarded)

https://coinmarketcap.com/currencies/safemoon/

Notice the steep one-interval spikes in price. Be aware that many of those are successful fleecings of original Safemoon HODLers who must convert their now defunct Safemoon tokens to Version 2 tokens or leave them to vanish when the grace period ends. Each HODLer must submit a "buy" order for the new V2 tokens using the old Safemoon tokens ... which must be converted into Binance Coin which is then used to purchase the V2 at the price set by the V2 directors (formerly known as the Safemoon directors).

This is the point the directors hike up the price for the one interval you are seeing that looks like a spike on the price chart. After the purchase is completed at the artificially high price and the HODLer fleeced, the price is returned to exactly where it was one interval prior.

It turns out that this was the entire purpose for the Safemoon Wallet app. The whole idea was to enable HODLers to easily "convert" their Safemoo tokens to the planned V2 tokens in literally three clicks ... and totally automate the Directors' ability to fleece the HODLers.

IBdaMann wrote:
Safemoon V2 is charging hard out of the gate, looking to immediately establish its supremacy as the reigning undisputed fleecing champion. I missed it when it happened so this is a tad late on the reporting but at 7:30:27 pm Wisconsin time on 20 December 2021, while Safemoon V2 was showing a price of $0.001584 (only two zeroes), some V2 holders wanted to sell some or all of their tokens.

Safemoon V2 staff was obviously not pleased with their decision to sell and apparently took offense at the request. Safemoon immediately dropped the price to $0.0000002149 (yes, six zeroes) for that one interval needed to effect the sell order at 0.01% of the previous price, and then immediately returned the price back to its 2-zero decimal price of $0.001591

Safemoon V2 will not tolerate any of this buying or selling funny-business. They apparently have adopted a zero-tolerance policy.

Did you convert your tokens yet Xado??