- Joined
- Jun 11, 2010
- Sythe Gold
- 93
- Messages
- 7,159
Okay let's discuss what a pump and dump is:
A pump and dump scam is a fraudulent scheme where the price of a microcap stock or in this case crypto coin is artificially inflated by a person or group who achieve it through misleading positive statements. Once the operators have sufficiently overvalued the coin or stock they dump their holdings into the market and profit while simultaneously crashing the market. These types of scams are illegal on the open (stock) market and are regulated by the FSEC.
More details here: http://en.wikipedia.org/wiki/Pump_and_dump
Now onto the report:
User: http://www.sythe.org/members/399359-coinking.html
Proof:
http://www.sythe.org/cryptocurrency-discussion/1700926-dimecoin-about-start.html
This thread should have numerous deleted posts that mods could see concerning the intentions. The below post and its inconsistencies with the above post should be enough to show that once he was found out he decided to change his tone and begin attacking members who spoke out against it. He is actively encouraging members to act in this pump and dump scam that the market he has a hand in will orchestrate.
http://www.sythe.org/13416827-post9.html
You can read this message: https://bitcointalk.org/index.php?topic=525382.msg5838875#msg5838875
Compare it to the poor English and poor punctuation skills that you can see in many of his posts. It is obvious he has something to gain from this scam and most likely has a stake in the premine. People will mine these coins and then be shit out of luck once they're dumped. They'll be stuck with useless coins, and if they do dump them with this guy then they're participating in a scam if they know it or not.
EDIT:
After searching more I have found more posts on the Bitcoin talk forums that fall in line with the idea of uptalking this Dimecoin. He comes here and then says that the coin isn't any good, but it will be good for quick money. It is obvious.
link: https://bitcointalk.org/index.php?action=profile;u=139015;sa=showPosts
A pump and dump scam is a fraudulent scheme where the price of a microcap stock or in this case crypto coin is artificially inflated by a person or group who achieve it through misleading positive statements. Once the operators have sufficiently overvalued the coin or stock they dump their holdings into the market and profit while simultaneously crashing the market. These types of scams are illegal on the open (stock) market and are regulated by the FSEC.
More details here: http://en.wikipedia.org/wiki/Pump_and_dump
Now onto the report:
User: http://www.sythe.org/members/399359-coinking.html
Proof:
http://www.sythe.org/cryptocurrency-discussion/1700926-dimecoin-about-start.html
This thread should have numerous deleted posts that mods could see concerning the intentions. The below post and its inconsistencies with the above post should be enough to show that once he was found out he decided to change his tone and begin attacking members who spoke out against it. He is actively encouraging members to act in this pump and dump scam that the market he has a hand in will orchestrate.
http://www.sythe.org/13416827-post9.html
You can read this message: https://bitcointalk.org/index.php?topic=525382.msg5838875#msg5838875
Compare it to the poor English and poor punctuation skills that you can see in many of his posts. It is obvious he has something to gain from this scam and most likely has a stake in the premine. People will mine these coins and then be shit out of luck once they're dumped. They'll be stuck with useless coins, and if they do dump them with this guy then they're participating in a scam if they know it or not.
EDIT:
After searching more I have found more posts on the Bitcoin talk forums that fall in line with the idea of uptalking this Dimecoin. He comes here and then says that the coin isn't any good, but it will be good for quick money. It is obvious.
link: https://bitcointalk.org/index.php?action=profile;u=139015;sa=showPosts
