Old Hodler address has been hacked

Without Private Key and Key Phrase it is very difficult to steal Bitcoin. Nevertheless, it is possible to do it through detours. In a medium post, a user named „CryptoNerd“ declares that he thinks the Coinbase theory is unlikely. Here you can see that the individual coins have been sent to over 90 different addresses in order to „dilute“ them. This serves to cover up the traces in order to sell them bit by bit. According to this theory, there would be no major dump, the Bitcoin price would not be significantly affected.

Fear of loss of Bitcoin profit

This theory follows previous Bitcoin profit theory, also here movements would serve following veiling. In an announcement on December 3, Sigal Madelker announced that the United States Treasury would step up its efforts to combat money laundering and illegal activities in the crypto industry. In the course of an action against Iranian blackmailers, the anti-terror department of the USA had managed for the first time to clearly assign Bitcoin addresses to individuals. This is what it says in detail:

„As Iranian […] players try to abuse the digital currency [Bitcoin] to facilitate illegal activities, financial institutions, including exchanges and other providers of digital currency services, must protect themselves from the risks of supporting these malicious players. With its technical expertise, the digital currency industry must develop its networks and take the necessary steps to prevent illegal operators from using its services. For example, shortly after the appointment last week, we saw at least one compliance company that not only quickly informed its customers about our sanctions, but also sent them additional information related to the due diligence they were carrying out quickly. That’s exactly what we want to see in this and other areas.“

According to this theory, in line with CryptoNerd’s theory, the movement would argue that coins would be moved to disguise their origin. This could lead to an exchange for privacy coins or the use of Bitcoin tumblers.

Miners want to cash out to buy new Bitcoin profit

According to F2pool founder Mao Shixing, between 600,000 and 800,000 miners have been taken off the Bitcoin profit grid since mid-November. Due to the strong price losses of the continuing bear market, Bitcoin profit no longer seemed profitable – we reported. In the same breath, a correspondingly large number of mining equipment was sold. To counter this, Bitmain has announced the Antminer S15 for December. With the reduced difficulty and the new device Bitcoin Mining shall become more profitable again. According to this theory, the large amount of Bitcoin would be used to cash out and buy new miners with the new capital.

Conclusion: No reason for FUD
Probably the most likely theory is that Coinbase is trying to provide more liquidity on its stock market. This would not lead to a bigger dump, as would the theories of concealment. If there were indeed a larger mining pool behind it and Bitcoin were to flood the market soon, there would be a danger. However, given the current market situation, this is unlikely.

What do you think of the theories? Is Satoshi Nakamoto behind the movements and wants to sell all his coins because he suddenly became poor? Or does Craig Wright want to dump the Bitcoin rate so far to push Bitcoin SV up with his profits?