In light of the world’s largest crypto exchange, Bitfinex, threatening legal action against critics talking shit online, Citron just tweet they’d cover the legal expenses of bloggers who voiced their opinions. The issue is their relationship with Tether, another crypto that has been rumored by many to be nothing less than a god damned fraud.
Here’s the scoop.
Bitfinex, the largest Bitcoin exch has threatened legal action against critics. Could be the Lehman moment of Bitcoin. https://t.co/wjPk19dZeG Citron has agreed to cover legal fees for bloggers expressing opinions. We have been in contact. Open dialogue in markets is important
— Citron Research (@CitronResearch) December 7, 2017
Related: Citron tweeted out they are now short GBTC at $1,800.
That being said the $GBTC premium has evaporated and now we cautiously entered a new short position at $1800 on GBTC.
— Citron Research (@CitronResearch) December 7, 2017
If you enjoy the content at iBankCoin, please follow us on Twitter
How the fuck can they be short GBTC?
The Thinkorswim platform shows NTB (none to borrow).
Some brokers are a lot better at borrows than others.
That being said, shorting $GBTC without any NAV premium involved is absolute insanity.
Can you buy puts on it?
No
Soon.
Derivatives on BTC will be fun as hell.
Whatever your feeling on BTC, the option market will be for suckers. Even if it was *fairly* priced, that price would be based on volatility. I’d say volatility is pretty high, wouldn’t you? There will be people holding puts that still won’t pay out when bitcoin loses 50% of it’s value.
That is *buying* options is for sucker. A completely awesome play would be covered call writing (buying and holding BTC and selling calls).
Boyaj when will you blog again? You should at least stop by to drop a pdf or two out of your library once and awhile.
You can buy 1 ounce Gold plated Bitcoin on Amazon for $6.99.