This is why I have not yet shorted Bitcoin. (The story is counterparty risk, because if I'm right, ecosystem folds ~simultaneously.) https://twitter.com/Bitfinexed/status/925118751007301632 …
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I feel I'm missing something. You short/borrow BTC for $, and then your creditor goes bankrupt (or completely defunct). Are you saying there's a call on the shorted BTC and you're forced to cover at an unfavorable price, or is there some other problem?
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Depends on the mechanics. If it's options, your counterparty going away. If your $ on exchange as collateral, it's not coming out.
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can I retweet an entire thread
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because this is spot on
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1 Create virtual BTC as an escrow account you will keep funded to value of BTC 2 Trade for actual BTC and sell it BTC immediately ...
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3 if account is ever under funded lender takes possession immediately 4 at end of contract you buy BTC and take back anything in account
End of conversation
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