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> It's pretty cheap and easy to take a short position in Tether. You can borrow USDT on Compound for 3.37%, convert it to USDC at Curve for 0.06%, then collect
by spywaregorilla 5y ago
> It's pretty cheap and easy to take a short position in Tether. You can borrow USDT on Compound for 3.37%, convert it to USDC at Curve for 0.06%, then collect 2.32% on USDC at AAVE. If/when Tether collapses, you'll only have to cover your short at the collapsed value.
Read what you just wrote and then ask yourself if figuring out / validating / executing that is actually "easy" to the average person. As a casual observer, and crypto owner, that is definitely not easy for me.
- rawtxapp 5y agoAverage person isn't shorting Tether, those shorting Tether should have a deep understanding of why it has the potential of collapsing and to have that understanding, you also need to understand these different financial products properly.
- spywaregorilla 5y agoOf course. And that's one reason why the average person observing tether seems scammy doesn't immediately try to short it.
- random_kris 5y agoHmmm for someone reading hacker news, participating in this thread and claiming that they hold crypto this shouldlnt be hard to understand by doing 10 minutes of research. Instead you decided to use that time for commenting and complaining
- spywaregorilla 5y ago> Hmmm for someone reading hacker news, participating in this thread and claiming that they hold crypto this shouldlnt be hard to understand by doing 10 minutes of research I would strongly advise against anyone trying to learn and devise a shorting strategy in 10 minutes > Instead you decided to use that time for commenting and complaining ... ditto?