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Shorting Bitcoin

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331–334 of 334 posts

Re: Shorting Bitcoin

#331
post #132

Earlier quoted context omitted.

It's also worth reflecting on the fact that banking being terrible is predominantly an American problem among the developed nations. Even in 3rd world countries, banking is pretty awesome. Checks have been obsolete for decades, any kind of money transfer takes around 5 seconds after you press send from your bank's app, even during weekends and between different banks. Transfer limits are generally settable from the a…

And crypto gives the entire world that great experience, without needing a bank or a government. It is hard to say that isn't an amazing technical solution to an organizational problem. There are worse countries to manage your finances in than the US by the way. Lebanon is in the midst of a terrible bank and currency crises. People literally are not allowed to take money from the bank. This happens repeatedly through…

> And crypto gives the entire world that great experience, without needing a bank or a government

ha ha keep drinking the kool aid:

- crypto is difficult to use (really, no one wants the hassle of managing private keys)

- transactions are irreversible (i realise by design, but actually most people just want some measure of fraud protection)

- often high transaction costs

- slow transaction times (>10 mins for btc, often longer, versus literally instant for conventional payments)

- very, very limited transaction rates.

- oh and you could easily lose your cash with no recovery (go to point one re private keys)

Re: Shorting Bitcoin

#332

Earlier quoted context omitted.

Prismatic CATL's right? Closer to a pouch than cylindrical 21700's.

Any source about Tesla actually using CATL's prismatic? IIRC, there was only rumors.

https://twitter.com/sdmoores/status/1311371352855769090?lang...

Re: Shorting Bitcoin

#333
post #326

Earlier quoted context omitted.

One major caveat; You're not shorting BTC/USD, you're shorting BTC/USDT. As long as Tether is managed by a shady, unregulated corporation with zero transparency or oversight, that has full freedom to create as much artificial liquidity as they see fit, that seems like a very bad bet.

Why not short USDT directly then rather than throwing BTC into the mix?

The more I think about it, the more I think that this is actually a pretty genius trade. The price of Tether is effectively capped at 1 USD, so it's not like a short position could blow up in your face. All you'd stand to lose is the interest.

Re: Shorting Bitcoin

#334
post #327

Earlier quoted context omitted.

The law changes dramatically every time there is a new government. The bitcoin protocol stays the same.

That is not true. The bitcoin protocol can change and did change. If you fire up the original wallet it won't sync.

Small incremental changes based on almost universal consensus, yes. Not the same as political change. The big block size guys failed to make a big politically charged change. Bitcoin has shown its resistance to political change very clearly.
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