Hey, anyone wanna help me with a Pump n Dump scheme on Gaia?
If you don't know what it is, google it.
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Hey, anyone wanna help me with a Pump n Dump scheme on Gaia?
If you don't know what it is, google it.
I'm up for it, I already started on an item but couldn't keep up
What items do you plan on doing this to?
Read on wikipedia about this, and I'm in.
I'm still confused of what this is, but Im interested. (I read wiki page)
Sounds awesome, now we'll just have to pick an item and all make a few mules.Quote:
Originally Posted by syipkpker1
Not sure yet, any suggestions? I'm up for anything. My current stock of gold is limited to 300k though, so unfortunately I can't do it with any items higher-priced than that.Quote:
Originally Posted by Jenni
Sounds good.Quote:
Originally Posted by einstein95
Cool, and to summarize:Quote:
Originally Posted by thamanz
A pump and dump is when you create a bunch of fake hype about a certain thing that you own a lot of, telling people to buy it and stuff. This causes the item's value to rise (supply and demand) and then you sell all of yours when the price rises so that you can make a profit. This is normally done with the Stock Market, but can be applied to things like online games extremely easily.
This is how I plan on doing it:
1.) We all make 4 mules, so that we have 5 accounts total (including our main with the gold on it.)
2.) We post all over exchange forums, guilds, and other places telling everyone to buy a certain item because it's going to rise soon due to market data we have, and a secret multi-millionare gaian contact (both of these claims are fake, they're just to trick people.)
3.) People believe us, and start buying it up. We tell them to wait until it hits like 10k above its current price to sell, or something like that.
4.) When the price starts rising, and hits 5-6k above its current price, we all dump ours. Once it hits 10k above there will be more supply and no demand, so those people will all lose money, but we'll make tons because people will still be buying them when it's only 5 to 6k above its normal price.
5.) And that's it! You successfully pumped up the price of an item with fake "buy this, its going to rise!" messages form multiple accounts, and then dumped all of your stock of that item for a higher price, netting you a big profit.
If we keep doing this with multiple items, it would be simple for us to be able to make millions.
Also, we should make a fake exchange guild that releases weekly guild updates with items people should buy and prices that they should sell at (of course, each one of these would be a pump and dump scheme by us, but none of the members of the guild would know that)
So what item are we going to hype up and why would anyone listen to us/ buy it because we said?
I got 6 mules that are old accounts and a main
If a ton of people are saying buy it because its going to go up, people will believe us and buy it.Quote:
Originally Posted by thamanz
We would be more legit sounding if we made a Guild for exchanging though, I think that would work way better. Thoughts?
Sounds awesome, you can use those.Quote:
Originally Posted by syipkpker1
Guild seems legit. We need some good graphics/post/thread layouts as well. This needs to look good, as appealing to the eyes will attract more.
Thread could work but like I said we'd need to get some graphics/nice layout.
Thread should have Welcome post, about us, the market, what item is 'trending' aka our hyping item, banners, links, contest, etc
Sounds good, I'll get a guild set up and PM everyone the info.Quote:
Originally Posted by thamanz
Also, how should we all communicate? On LG stuff could get leaked, and Gaia Admins can view Guild-Admin-Only threads in guilds, so that wouldn't be secretive either. We need a good method of communicating that's secure.
Sounds good to me, although im poor as shit right now on gaia with only like 30k lol, but ill sell everything. Good investment.
Well hey man, if we can make some cash I'll make sure and send some your way so that you can invest more and get a bigger profit.Quote:
Originally Posted by Esteroth
Sounds good to me. And im back up to around 300k at the moment but once this shit sells i should be up to around a mil for my limit.Quote:
Originally Posted by Flareboy323
I sent you a pm but that chatroom is video lol. Mmm, maybe a irc chat or something. I'll keep lookingQuote:
Originally Posted by Flareboy323
I just bought Starlit Promise inflate that :)
lol I dont think we are inflating something that much yet.Quote:
Originally Posted by Jenni
Sorry Jenni, with everyone's current gold stocks we wouldn't be able to make much money off of that. I say we do something that only costs 10-20k
Also guys, what's your opinion on using Skype as a means for us to contact? Stuff posted here could get leaked, so we need a private way to talk to each other. I think skype would work best because even if you're not online you can still receive messages and see them later and stuff, where on IRC you could miss whole conversations and never be able to read them.
Whaddya guys think?
I'm game for that. Making a few more accounts to do this. mmm
Sounds good to meQuote:
Originally Posted by Flareboy323
Everyone add me on Skype, my username is flareboy323
After you all add me, I'll start a big group chat with all of you, and then you guys can all add each other from there.