Shorting Bitcoin
I love this sort of thing. He’s making a bet, explains his reasoning, and does it in the open! That’s great.I disagree that there’s no tech here. IMO public ledgers that never sleep are far superior(thanks to the hard work of many people over the past decade), and their advantage over retail banking will only increase. My online banks keep getting worse, crypto keeps getting better. Think about this: banks are CLOSED 77% of the time! Need to send a wire? 3/4 times bank will be closed. Capital will just move far more efficiently on block chains.I have NO idea whether crypto is a good investment. I agree with the OP that insiders dominate it. But the tech has gotten really solid and I don’t see how the rest of banking has a chance, unless our government wants to burn our economic lead down to protect the status quo.