Digibyte, 3 year old alt coin, just doubled in the past 24 hours.
There’s been news that they will be launching a server on Minecraft. Note: Please do not confuse this with them being connected to Microsoft in any way. The twitter profile that is representing DGB and this minecraft connection is here: https://twitter.com/laurynasc111.
Sound legit? The account has 29 Tweets and 163 followers and retweets users tweeting to buy DGB.
Reasons why this is a bust:
- Website shows no dedicated team
- Weak Github Activity
- Shady Twitter Account
The increase to even a 10th of the 500M valuation isn't warranted. Strong intuition points that this is CLEARLY the work of a pump and dump group. Please be careful buying this! After a look at the trades on poloniex, the group seems to be dumping.
Links:
Our fb group: https://www.facebook.com/groups/1690488971254088
Digibyte website: https://www.digibyte.co/
Digibyte Github Activity: https://github.com/digibyte/digibyte/commits/master
Minecraft Digibyte Server Twitter: https://twitter.com/laurynasc111
Wow, very interesting - and groundbreaking investigation - if true that DGB's price rise has been the result of a dishonest pump! I'm going to hold off on buying for now...
Pretty clearly a PUMPER DUMPER.
There is no point over Bitcoin.
People on polo like to speculate on whatever crap they do.
Sup Kyle, I agree!
But what do you mean by "no point over bitcoin"?
I do not feel that digibyte offers any utility over existing and better designed projects. There is simply not the same magnitude of development.
Are pump and dump groups really that wealthy?
I've been more cautious with altcoins but like to speculate occasionally with the <10million market cap coins where pump and dumping is rampant. Reading recently about Digibyte and not really understanding its use case came as a surprise to me, but I figured it was viable at a 500million valuation.
Perhaps the notion of a "pump and dump" isn't so concrete, explicit, and coordinated at this size, but its community can be vaguely predatory towards investors who want "lower risk crypto" and like its market cap.
Yes they really are that wealthy lol you need around 1-5 million USD to fluctuate the price and you can make a lot of money doing it.
Pump and dump, I'd been hearing a lot of buzz about DGB so I took a look at their website. Cheap/unproffessional design, missing portions.
Looks like a run of the mill pump and dump to me.
Thanks for info. You are right. Their twitter seems a bit shady.
Nice article. Interesting to see I'm not the only one that is thinking about this. Investing in the cryptospace might come with a high risk but honestly I don't believe the risk is that high for the people who are daring to HOLD their coins for long. An interesting website I found: https://www.coincheckup.com Every single coin can be analysed here based on: the team, the product, advisors, community, the business and the business model and much more. See: https://www.coincheckup.com/coins/Decred#analysis For a complete Decred Investment research.