Ok, interesting thread, but I cannot let this inaccuracy stand — under most rules “six of clubs high” is not a possible poker hand.https://twitter.com/Bitfinexed/status/1479569011348316163 …
You can borrow tether for 8-12% per year and short it. Easier than TSLA because your downside is capped.
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At least a couple of hundred million is possible. There have been problems when funds have shorted stocks that go to zero, because it delists and you can’t buy it back to close the short. Not sure if that would happen here!
End of conversation
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Except for when Bitfinex shareholders pumped tether to a thousand dollars per Tether to wipe out your short position. On Kraken.
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In practice you’d have a master lending agreement with whoever you borrowed from — they could demand margin to cover but you’d have good cause to dispute it if the price only moved on one exchange. As long as you’ve negotiated reasonable terms in your MLA you’d be fine.
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