> But if you have an unknown number of borrowed shares in the market, then this entire calculation is unreliable. You have perfect knowledge of the number of a

> But if you have an unknown number of borrowed shares in the market, then this entire calculation is unreliable. You have perfect knowledge of the number of actual issued shares, plus a 2 weekly disclosure on the number of borrowed shares. > Absolutely perfect information about all of reality would probably never exist, but you have a blockchain you can look at in real time How does the BTC blockchain, as an example, show short positions? (Hint: it doesn't, it requires disclosure by centralised exchanges in exactly the same way, except these disclosures are entirely unregulated and spread across many exchanges). Sounds like this is a criticism of stock exchanges that is again worse in the cryptocurrency/blockchain magic world.