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There are some Defi options on Ethereum that could allow you to short BTC with a USDC [1] collateral, like dYdX [2]. You would need to keep a small amount of E
by leppr 6y ago
There are some Defi options on Ethereum that could allow you to short BTC with a USDC [1] collateral, like dYdX [2].
You would need to keep a small amount of ETH to operate the smart contracts, which could fluctuate in dollar value, but even after a black swan event, there's no reason that this decentralized infrastructure would not still be running, allowing you to redeem the USDC to real dollars.
[1] Circle dollars, 1:1 backed stablecoin from a well regulated issuer.
[2] https://trade.dydx.exchange/perpetual/BTC-USD https://trade.dydx.exchange/perpetual/BTC-USD
- maxbond 6y agoI appreciate the idea, but I neglected to mention (c) is legal in the US. Speculating on bubbles is just out of my league, and I'm okay with that.