@davetroy The cryptobubble was designed to fail, it just wasn't to fail now. I think the collapse of the russian army (and nothing else is what happened in Cherson) has brought some people to the idea, relying on russia would not be in their best interest. So they got their assets out of crypto as long as they could make some money from it. The real collapse will come in the first half of 2023, Bitcoin will get regulations in the west I think.

@alanthir @davetroy I think a lot of people getting out now are just trying to convert to normal currency to wait out whatever the knock on consequences of FTX going under are.

I want to know what's going on with the mysterious "ancient" bitcoin wallets that are suddenly becoming active.

If I was the world's biggest holder of arrested Bitcoin and thought @davetroy was onto something regarding the anti-dollar coalition and their plans for twitter, I may be thinking about how to quenche a manufactured hype cycle without giving libertarians the opportunity to play the victim or depending on republicans to pass crypto regulation. A constant slow bleed sell off rather than a spectacular crash might be how I'd do it. That'd also be hilarious because you'd have a bunch of silicon valley libertarians voluntarily dumping money into government coffers without getting anything in return.

This is all just paranoia and conjecture though.