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This also makes me wonder about another "scam". * Buy some of coin X * Use that to buy some cash equivalent good that has a return policy (longer the better)
by BWStearns 9y ago
This also makes me wonder about another "scam".
* Buy some of coin X
* Use that to buy some cash equivalent good that has a return policy (longer the better)
* If X appreciates by the time the return policy is up, you return the goods, collecting the gains.
* If X depreciates you sell the goods for cash in USD which likely won't have varied much in the intervening time.
* Repeat, and you will have effectively captured 100% of the increase of X while completely derisked.
- asperous 9y agoNo one will return you the original number of BTC for refunds for this reason. But if they did then this would work.
- BWStearns 9y agoThe hardest part of that would definitely be finding the counterparty.
- taurath 9y agoI’m sure there’s a government or two that insists paying back exact currency amounts.
- tyingq 9y agoThey would if BTC had dropped in value though. That's the rub. They choose the refund currency at refund time.
- deleted 9y ago[deleted]