TL;DR @JackMorgan If I were you, instead of rambling on about anti-crypto, I would just short the damn thing. In fact, all of them. Just imagine where you would be had you done that a month ago. It's still not too late.
I am calling BS on this. Are you saying exchanges like Binance, Bybit or FTX wouldn't be able to pay up and rug you? Ridiculous.
They absolutely would pay up small. Imagine your position make $100 million. You will not get paid I can assure you that. binance the other day stopped BTC withdrawals. They literally can do whatever the hell they want
Its like the scene in The Big Short where Burry wants to make sure he gets paid on his CDS contracts so he goes to all the big houses to diversify his bets. Maybe that's the best strategy. Go to all the exchanges & reduce your bet so they are under the radar.
Lol, you asshole. You have a lot to account for. I'm gonna' chase you until you post a journal on this forum. I'm gonna' make you THINK about your life, for the first time in your life.
These places are not really "exchanges". They are not regulated or audited. They are not backed up by anything. Do you know their finance? Their net capital structure? Do they publish their financial statements, in fiat currency or in crypto? They are just a bunch of servers run by just one person or group of people at most. Wouldn't be surprised if they just "died" all of sudden with neither their corpses nor their wallets of cryptos ever being found.