This may sound silly/naive, but I'm not happy about the sudden Monero pump.
It doesn't do *any* good in the long run.
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Discussion
we'll see how exchanges react to this. if 1) XMR gets even more banned, or 2) if more of them die down (rip eXch)
but I don't see how this could be bad in the long run
Why is the transfer considered suspicious and it's called theft address?
I don't know also, the guy from the tweet in the screenshot is a known researcher in the space but so far we got no clues other than this. I don't follow it that well to know if it's a legit claim or he's speculating himself 🤔
It’s a speculation although it’s improbable that the owner would just swap his #Bitcoin all at once raising suspicious activities. I think it’s reasonable to assume it’s some sort of hack until proven otherwise.
Yeah even if it's the legit owner what's mostly suspicious is the *rush* to get Monero quickly, even if the price raises because of it. Usually only hackers move so recklessly
Ah OK, we'll see if it gets confirmed anyhow
I'm not a fan of these pumps either. I definitely like the gradual natural increase in XMR price. it was averaging 40% or so a year. I think its due to thr lack of exchanges which are casinos and offer a lot of leverage. I know its not really the case here. I hope it drops and goes back to business as usual.
Pumps are bad for commerce and merchants. Now they are forced to sell their product into this volatile market which might correct and they lose 30-50%. They might choose not to sell their products at these high prices.
It will be interesting to see if this event gets any media attention. If so, I can already see some politicians calling « to ban » #Monero. It think this will remain a non-event though. We shall see.
Was wondering what this was.
Not silly or naive at all ;)
