>find new shit coin
>put $1000 into it
>put in several ask orders for like +1000% and buy them
>sell them to others for $2000-$3000
I feel like I couldnt be the first person with this idea. Basically a one man PnD. So why wouldnt it work or be more common? Obviously you need like 10k sitting around but I dont see any other problems with it
bro have you solved finance and created the perpetual money machines?
Do it then, see what happens
Go for it dude, let me know how it goes and i'll join you
>>2657156
I dont have enough money to move shit coins. and I know it is too good to be true to work but I am wondering why not
>>2657173
There are literally 0 vol coins
I guess you can do that on those dead coins with little money
>>2657142
there is no guaranteed buyer at the higher price and even the shittiest of shitcoins have market caps of like 20mil so you need way more than 10k to move the price. try like having 2mil
>>2657142
>Basically a one man PnD
I did something like that, but on a smaller scale with Faircoin two days ago.
It was completely stuck at 7k asks and 8.8k bids.
I bought low and then did some minimal buys at 8.8k to make the price appear to be rising.
About half an hour later the asks were already nearing 8k and kept slowly rising and I started selling as it got to 8.4k.
In the end I ended up having a gain of 1:2.4 in just one hour.
However, this is only possible when there are very few active sellers to drive the price down and you are basically controlling the coin.
>>2657142
If you find a shitcoin sitting at 1 sat and fill every sell order up to 1000 then you've probably just done this for some other genius.
>>2657191
Thats interesting. do you have a strategy for this or you just kinda saw the opportunity and went for it
>>2657142
you need enough capital to make a notable spike on the coin
10k isn't anywhere near enough lmao. like you underestimate how much capital you need to pump and dump SEVERELY.
Go to polo and click a low price, low volume shit coin with a big ass sell wall. scroll up and down the wall. The majority of those orders are whale orders that they use to keep the price down while they accumulate for the pump. You need several hundred thousand for some shitcoin on bittrex, on polo you need millions.
if you were here for moon coin, you've seen even BEFORE the pump started, like even before the 16 yr old discord faggots started shilling it, ancient sell orders where on the books for hundreds of bitcoins
your 10k is 5k btc. You will not make even a dent.
For fun, check out the walls on bitcoin. See the buy side? Whale orders. They pull that wall = bye bye bitcoin. They push it up further = pump. Those are the real early adopters.
>>2657365
Saw the opportunity and tried it.
I checked out the coins with the highest spread between bids/asks and noticed Faircoin wasn't moving at all for several hours.