On startup it hangs for 10 seconds, apparently on a select() call.
I've edited this strace dump for brevity:
...
04:20:19 read(6, "-S", 128) = 2
04:20:19 select(9, [6 8], NULL, NULL, {9, 971293}) = 1 (in [6], left {9,
971287})
04:20:19 read(6, "TO", 128) = 2
04:20:19 select(9, [6 8], NULL, NULL, {9, 971287}) = 1 (in [6], left {9,
971281})
04:20:19 read(6, "P ", 128) = 2
04:20:19 select(9, [6 8], NULL, NULL, {9, 971281}) = 1 (in [6], left {9,
971275})
04:20:19 read(6, "$$", 128) = 2
04:20:19 select(9, [6 8], NULL, NULL, {9, 971275}) = 1 (in [6], left {9,
971269})
04:20:19 read(6, "'\r\n", 128) = 3
04:20:19 select(9, [6 8], NULL, NULL, {9, 971269}) = 1 (in [6], left {9,
970702})
04:20:19 read(6, "bash: PROMPT_COMMAND: line 1: sy"..., 128) = 128
04:20:19 select(9, [6 8], NULL, NULL, {9, 970702}) = 1 (in [6], left {9,
970700})
04:20:19 read(6, "STOP $$'\r\n[miven cobra ~]$ ", 128) = 27
04:20:19 select(9, [6 8], NULL, NULL, {9, 970700}) = 0 (Timeout)
...[10 seconds of nothing]...