+- fac513a1cede -- 175d ------------------------------------------------------------------------------------------[...]+ | | | “Bitcoin is having its IPO moment” | | | | Interesting thesis | | | | Makes a lot of sense | | | | https://open.substack.com/pub/visserlabs/p/bitcoins-silent-ipo-why-this-consolidation?r=2rvibb&utm_medium=ios | | | +-- reply --------------------------------------------------------------------------------------------------------- ---+“Bitcoin is having its IPO moment” Interesting thesis Makes a lot of sense https://open.substack.com/pub/visserlabs/p/bitcoins-silent-ipo-why-this-consolidation?r=2rvibb&utm_medium=ios
thread · root 20fa4f2d…ce16 · depth 4 · · selected 69b41d63…ade2
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root 20fa4f2d…ce16 · depth 4 · · selected 69b41d63…ade2
“Bitcoin is having its IPO moment”Interesting thesisMakes a lot of sensehttps://open.substack.com/pub/visserlabs/p/bitcoins-silent-ipo-why-this-consolidation?r=2rvibb&utm_medium=ios
The chances these long dormant coins are being moved by a nefarious actor is very lowIt’s just as likely that a nefarious actor is moving recently attained coinsnostr:nprofile1qqsqt6gwlarurc8v4aw9hh2vkfdedxfh9zngmza0tlw4e66wf3fzvjqpzemhxue69uhhyetvv9ujumn0wd68ytnzv9hxgqg7waehxw309aex2mrp0yhx66twv3ejucm0d5hkummnw3ez7a33447ce7 does some great on-chain anlaysis looking at long-termholder behaviourAnd frankly it explains so well why we get sell-side pressure when the price runsPeople have made a amazing returns, far better than any other asset class, and it makes sense to cash some inI believe that’s what we’re seeing
In general I agree. Except new coins are much less likely to be attacked, because people routinely use HDwallets these days, so long-range attacks wouldn’t work. There only the short-range attack targeting the fundswhile they’re in the mempool would be a concern.It’s primarily old coins in wallets with long-exposed pubkeys that would be first attacked.
Old ancient coins are not moving. Most of the sellside pressure comes from this cycle and last cycle holders.It's not from coins being attacked and stolen.