Checked out the bittrex homepage today? Did you see this?
Did breakout stake make an incredible announcement that they're collaborating with Bill Gates to launch a chain of steakhouses? (Spoiler, no). BRX was the chosen pump of the day by the 'pump notifier/trading signals' telegram group.
What is breakout steak?
Breakout coin is part of a set of currencies tied to online gaming. Breakout Stake owners have a stake in the Breakout Chain network.
Supply: 12.5 M Fixed Supply
Inflation: None
Min Transaction Fee: 0.01 BRX
Stakes: Breakout Coin
Stake Minimum Confirmations: 3456 (12.3 Days)
Pump Announcement
This pump was released at 1700 GMT. A lot of reports suggested the pump notification arrived up to a minute after this sparking speculation of bots, secret groups and cries of foul play. The group owner, "Captain_asdf", addressed this with a screenshot demonstrating the pump was indeed posted at 1700, stating: "May be telgram/internet lags at ur place since we are big family of more than 15 k ppl now."
I also experienced this delay. I have Telegram installed on multiple devices connected to Wifi and 4G, the notification came through instantaneously on all devices so I ruled out 'internet lags'.
So does Telegram have issues with scalability? This would be hugely detrimental to the group of large numbers, as many users would almost instantly be at a disadvantage with a 40 second delay.
Can Telegram handle the group size?
After searching on Telegram's site, they state: "a channel can have an unlimited number of members". One would think that scalability would be in mind making such statement. A 40 second delay on a mere 15k group wouldn't be a great sign of things to come. Very little is mentioned on what servers are in place, but a statement says "Telegram Messenger LLP has servers in a number of countries throughout the world to improve the response time of their service." The Russian entrepreneur Pavel Durov, a key investor, stated "it would require a major architectural redesign of the server-side software to connect independent servers to the Telegram cloud". Heh.
To the pump!
In the mayhem it's hard to see what the bloody hell is going on, so looking back, here's a closer look of the minute by minute play:
We can see that the highest volume was placed within the first minute, with the peak price being reached by the end of the second minute. 17:03 had the lowest volume, presumably with investors sitting on their order to see when to pull out. By 17:05, earlier investors would see their red line fast approaching as sell volumes were increasing. The price stabilised for roughly 2 minutes around 0.00045700, even seeing a small increase. However 17:08 saw the bag holders deciding to cut their losses when the price headed down to 0.0038515.
So, what was the best strategy for this?
Unless you were the one at 16:54 getting it at 0.00021363, you had to be quick. Getting in within the first minute at ~2% over the ask price and placing a sell order at the last price by the end of the second minute might have produced profit.
With both buying and selling, place an immediate or cancel order. Otherwise you'll be waiting to fill an order at a price which would already be miles away.
The bottom line I'll emphasise, you'll see this group proclaim increases of x10, x13 and even x16. Don't aim for this and don't expect this. You won't get in at the bottom, and you won't get out at the top.
Win or loose - take our pump poll
Join my telegram group for a schedule of upcoming pumps from multiple sources, and to receive all advice / analysis. Let me know in the comments if you had any success, or your horror stories!
He's a scammer.. Don't fall for it ! You have been warned... !!
Do this if u want to try.... put 0.0001 and see your value instantly drop to 0.00000001 the moment you buy !