So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it. https://twitter.com/gwestr/status/1066769641026969600 …
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Is that margin per contract or per coin? (IIRC each contract is five bitcoin). I don’t follow why circuit breaker matters or what pre-commitment you mean; if the prices at the bitcoin exchanges drop to ~0 the future will settle there? Is risk worse than any other short?
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Margin is per coin (it's $40k for the contract which is 1 BTC and $200k for the contract which is 5; can't remember which exchange is which). If prices drop to zero they've said "Won't settle near zero."https://twitter.com/patio11/status/930338462531698688 …
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