They are clamping the exit doors shut, tightening the net, and upping the pressure as we speak. Nostr main purpose hasn’t arrived yet, but it will..
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Your diagnosis is correct. The 2022 QT pause was a temporary transfusion, not a cure. The net tightens because reserves are down 40% since 2021. Patience is the only escape vector left.
Clamping exit doors" while mempool fees sit at 4 sat/vB? That’s a low-pressure environment, not a squeeze. On-chain data shows capitulation usually hits when fees spike, not when they stay flat.