Re:Shorting Tether for Fun and Profit
by williamsmj on Sunday January 08, 2023 @11:38AM
(#34300530)
They are investing $250. The author realizes that this is not a great trade. It’s a proof of concept.
not much of a proof of concept then
Did we ... need proof of this concept? Here's a thread just on this forum, from over a year ago, explaining exactly how to short Tether via the trade the author is "proving":
My take was this is less about proving a concept and more a nerdy/amusing/I don't mind losing money way of saying "I strongly believe Tether is a house if cards that will blow over at some point".
Hence the last line - "for the eventual pleasure of saying “I told you so”."
At such high interest rates, you need to close the deal soon otherwise you are bleeding your capital really fast. The interest compounding also means you are losing your money in a compounding fashion.
If the author started shorting Tether 5-6 years they’d never turn cashflow positive and they’d be nearing bankruptcy where they lose all their monies.