Virtual currencies are often associated with all kinds of negative terms, including scams, hacks and pump-and-dump schemes. Especially the latter category is far more common in the world of virtual currencies than one might assume, as most of the “altcoins” are created by a group of developers looking to make a quick buck. In all fairness, with over 4,000 virtual currencies in existence already, there is no need to create more.
The Ecosystem of Altcoin Pump-and-dump Schemes
Bitcoin and other virtual currencies are a “Wild West” for fraudsters, imposters and people looking to steal your money. Or that is what mainstream media wants the everyday consumer to believe at least, even though their story is not that far from the truth. There is quite a lot of pumping-and-dumping going on in the virtual currency altcoin scene, as it has been for many years now.
Everybody knows that the Bitcoin price is one of the most volatile exchange rates to be found on the planet right now. Supply and demand in a free market setting is cause for speculation and day trading, with plenty of traders looking to make quick profits. But things are