A story of getting burned by a Pump and Dump group moderator's dirty scheme
So I've been into Bitcoin for about 3 years or so now but for the past six months I've really been going hardcore. Teaching myself how to trade on sites including Poloniex and Bittrex among others. Studying like Ralph Macchio under Pat Morita's infinitely wise "Karate training". Chart candles, Bollinger Bands, studying whitepaper after whitepaper. I've started a dedicated Crypto twitter, facebook biz site, the works. I've invested multiple thousands in 3 ICO's recently and I am most definitely not on baller status right now since I'm a current full time student with a family.
Long story short, I've got the crypto-fire inside me and I envision a world built on blockchain; like I'm considering a BTC tattoo type love.
So I've been trying to talk my way into a private pump and promo group for Altcoins because being self taught can only get you so far. You need a team; a mentor; some big brothers!!! I was finally accepted into a pump group a couple days ago and I was soooo stoked!!!! Finally I had some like minded people. My wife wouldn't have to pretend to care about my incessant ramblings about market caps and how awesome Ethereum is.
You get the picture
So I've been making an absolute killing in NEO (formerly Antshares) this week and I agreed with the group admin I would cash it out and put it on Cryptopia. We waited on the countdown and when the time came I invested in the following joke of an Altcoin: "Creatio"
Ticker AKA: XCRE
Here's the last market info from coinmarketcap.com (pay special attention to the price per token in USD!)
So the Pump and Dump commences. For those of you who don't know (myself included until recently), a pump and dump is a group coordinating a quick inflation of a cheap token, letting the FOMO kick in and then jumping out leaving the folks not in the group holding the bag. (Dirty shit right?)
I was expecting more of a buy a coin and promote it because it seems like an awesome idea or company.
So we get into it and immediately the group leader/mod acts like hes in for over 1 BTC, one guy definitely is, after a couple minutes, he assures us he has a great idea that we're going to turn this into a promo. Everyone "HODL!" 20 minutes later, radio silence.
So by the time I realized this was a damn dead fish, my value went from over 200 USD to less than a penny!!!!
Moral of the lesson, do your homework and never trust those who are looking to rip others off and swear that their "teammates" are off limits. A thief has no honor. Another expensive lesson in the school of hardknocks
*I'm not going to name names here but if you are considering joining a group please DM me so I can tell you who to watch out for. (Hint: his name is a world famous magician who died many decades ago and he has a decent twitter presence) Hopefully I can get some Steemit love from you guys and re-coop a few bucks in Steem. Thanks for reading guys