Dead thread, all points easily disproved above. Move along people.
Monero is the most well-organized pump job I've ever seen. Not only do they have an army of devs and paid fanboys spamming monero 24/7 but they also have the backing on an entire EXCHANGE to help coordinate and strengthen their pumps! (Poloniex, if there was any question).
Monero represents the essence of greed and stupidity in the crypto community and although it is one of the more sophisticated scams / Ponzi schemes I have encountered here, it is still a scam / Ponzi nontheless.
THINK ABOUT IT: Does ANYBODY care about Monero except for the flaming fanboys and Poloniex? NO!!!
- NO real-world application
- NO desire to integrate into day-to-day finances
- NO long-term plan or evidence the dev team plans on being around even more than 1 year from now.
Good post. I've yet to see anything like it, and although there are genuine people that have been manipulated, Monero appears to be a big scam, organised by a handful of people and backed by an exchange.
The volume is another tell-tale sign of it being suspect. It's trading around 100 BTCs a day, yet the price is more or less static. This is coupled with a number of posts on here and at Poloniex about Monero's ranking at Coinmarketcap.
Allegedly Feathercoin in the early days was buying and selling its own coins, I think this is another case.
(allegedly)