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Leveraged fiat-settled hashrate futures, like offered by

, could kill #Bitcoin. If a big enough miner can pull their hashrate enough to make a leveraged short more guaranteed-profitable than mining, and miners are indiscriminately profit-oriented...

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If you have 1% of hashrate, and decide to throw it away for 3 months, you're losing about $7m. If you wanted to *break even* on a futures hedge you'd need a position of size *$700m* without having any impact. It's not economical.

12:08 AM · May 21, 2020Twitter Web App

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