People are trying to either flee China or get their capital somewhere else, or hackers are probing for weaknesses! My number one guess is hackers
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People are trying to either flee China or get their capital somewhere else, or hackers are probing for weaknesses! My number one guess is hackers
You could be right. It might be some funny business. Some of these pumps make little sense on the surface...
Somebody lost a ton fast! And unlike ZCash where a whale financed the thing and bought the ZCoin to fund ZCASH and to cause an uproar, this person either got screwed or, ANONYMOUS hackers posted here several times they were out to get Steemit, but then they rob everybody
please explain what hackers has to do with that. investors pump and dump for profits. thats all.
Have you seen those 'Double your Bitcoin' in so much time Scams? Or any number of scams that are out there?
Or have you read about hacking? I don't do it myself but have spent some time trying to stop them in the army.
So, let's say it is supposed to look like a pump and dump but in reality it is a bit more broad than that and in a regulated exchange system might be illegal. Here it is not but again, it is possible that some sort of exploratory measure was done, think of it like a DDOS or some such thing, where a group finds out there is a weakness and they can spend, X amount of dollars but get X times Y dollars in return every time they do it, where Y is positive and greater than one and probably at least say 3.5 in this case or I saw a post where SBD hit 0.007 for a second. I looked in the logs but did not even find the 0.0037 level that I reported because it was too far in the history.
The breach could be in an exchange or it could be within Steemit itself and then, like I said, I could have been just a poor investor who did not know that SBD is supposed to stay around a dollar, not $15.
The net effect of SBD staying at a very high level, steem is supposed to be the share of stock that rises and falls, is that steem becomes absolutely worthless the greater the value of SBD over a dollar
it doesnt make sense. if it was hacking, you simply lose the coins when you try to sell. but actually after transaction, you see your btc got from sbd dollars.
edit: the highest is already in system registered
and any case, pumping and dumping is ILLEGAL in regulated markets.
In a probe, to see what they can get away with, they don't always steal all the coins on the first try. Second, what if the object was not to steal the coins but to increase their value to make tons of cash
thats pumping and dumping. normal in crypto