Re:Why blockchain is not yet working (2018)
by Melting_Harps on Wednesday February 17, 2021 @03:04PM
(#26170953)
> Why?
Because it adds no value when shorting is nothing more than a predatory model to extract wealth from the useful (entrepreneurs) to the useless (speculators). Consider the World's riches man only became so when the speculators made Tesla the most shorted company.
I think this shows, once more, that the Capital Markets as we're forced to believe are anything that and more a massive casino with reckless gamblers with connections to central banks endless money printing. And that's my problem with this more than anyting else, it's not fair, its not efficient it's a forced construct by the entrenched powers to create even more entrenched and systemic gaps in wealth and Society.
Do I really need to talk about 2008?
Why? Shorting above 100% doesn't "create more of something". Why would a blockchain based trading system prevent me from short selling a stock based on what other people are doing? I've got the stock in my wallet. It was loaned to me by Bob. I can sell it to you right now. Why can't I sell it?