A Bitcoin wallet that was last active in May 2010 has come back online.
'Sleeping Whale' Awakens as Unused Bitcoin Wallet Comes Online : Read more
'Sleeping Whale' Awakens as Unused Bitcoin Wallet Comes Online : Read more
FUDThe first hacks of the bitcoin system will obviously be targeted at these already identified "sleeping whale" accounts. The owners of many of these likely don't even remember they own them let alone keep track of them. It follows that a hacker could access several of them without detection.
If many of these "awaken" I'm not sure it's a good sign.
I'm no expert, but I don't think you can just dump 50 billion worth of a commodity on a market and expect it to still be worth 50 billion. I know crypto "breaks all the rules", but does it really?
Bank robbers, for example, never want to bring down the whole system of banks. It's always in the robbers' best interests for banks generally to prosper, and then each individual bank has more money to rob. And "hackers" (whoever you imagine they might be) also would likewise have a lot to lose if the Bitcoin system were to collapse, and if a fundamental flaw in the system were discovered, the price indeed would collapse. It would be killing the goose that lays golden eggs.
But it's perhaps understandable how people who have lost out badly, because they missed the boat, are going to continue to come up with excuses why their reasoning not to invest was sound. It wasn't. Suit yourself. I've done well on very modest investment. The crypto water is fine, I invite you to come in; or stick your toe in at least!