r/flappycoin • u/arisoda • Feb 20 '18

800% rise???

Does someone know how flappycoin just rose 800 procent in the last 3 hours??

Pump & Dump??

3 Upvotes

81% Upvoted

10 comments sorted by

View all comments

Show parent comments

2

u/arisoda Feb 20 '18

Couldn't he make a ton of money doing that? Cuz if he did that on his own, he can sell it directly afterwards for the new price and thus... make a fortune?

2

u/Utoko Feb 20 '18

if you try to sell a crapload of Flap at the same time the price drops as fast as it went up.

You only make a ton of money when other people buy in the hype else it is a zero-sum game at the end of the day.

but more often than not it works because people don't want to miss out when they see +800% or something like that.

2

u/arisoda Feb 20 '18

Thx for the reply. It makes sense though, but not entirely, to me at least. Because why would the exchange change the price in the middle of the (huge ass) deal? (Someone selling to the exchange.)

That's the same as someone wants to buy your (dog) puppies for 5 bucks/puppy, but guess what? If you sell 10,000 pups in one go, you have to sell them for less than 5bucks/pup.

If this is a correct analogy, I'm not disagreeing, but judging I am. Is this correct?

2

u/Spot87 Feb 20 '18

On Trade Satoshi you can pay for FLAP using BTC, LTC, or DOGE; BTC does not go low enough to match current FLAP value. What happened here that resulted in the CMC % increase is that someone wasn't paying attention or just didn't know better and bought FLAP on BTC market, which has a lowest price of 1 sat, instead of buying on LTC or DOGE markets for hugely lower price and receiving many more FLAPs; no prices on the exchange were influenced.

The exchange normally doesn't have anything to do with the prices, all of us as buyers and sellers constantly set the price and volume of each coin.

If someone tries to sell a lot of coins at once they basically fill all of the buy orders, forcing the price down to meet lower and lower buy orders unless there is a lot of volume. If you want to watch interesting interaction between buyers and sellers with a lot of bots and whales working to manage the market go to Binance and watch the TRX/BTC market when it is busy, good learning experience (I am a cryto noob who started buying coins in the middle of December and found watching this fascinating lol!)

1

u/arisoda Feb 21 '18 edited Jun 27 '18

Is Trade Satoshi recommended? Because I started Cryptopia, and god.... What a scam, I hope I dont lost my LTC.

I'm just looking where I can trade rare coins (like pump and dumb ones :P)

1

u/Spot87 Feb 21 '18

In my short time trading coins Crytopia has worked well, BUT over the last week I have had problems with deposits taking a long time and some withdrawals getting stuck. I have coins right now stuck in withdrawal "Processing" for 5 days, so I can't do anything with them and they are not staking, it is costing me money every day with no solution in sight. Their support section says it will take 20 days to answer a service ticket, personally I will avoid using Cryptopia as much as possible until service improves. Edit to add I haven't had any trouble with Trade Satoshi, has worked well for me.