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 …
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Replying to @benjamintormey
You can borrow tether for 8-12% per year and short it. Easier than TSLA because your downside is capped.
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Replying to @macrocephalopod
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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Replying to @Bitfinexed
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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If you’d shorted using margin borrow on the exchange where the price moved you’d probably be screwed though, so don’t do that I guess.
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