It is definitely too late for his $250,000 short position to pay out, but he still might be able to capitalize on his book project.
There has already been a ton of damage done: 9 million jobs lost, 8 million home foreclosures, $20 trillion in household wealth lost[1]. Oh wait that was the 2008 financial crisis. Well at least with our modern and trustworthy financial system we held folks to account. Exactly 1 person went to jail.[2]. Well because our leaders are accountable to the people, we replaced them with new people that will act in our interest going forward. Just kidding they're all still in positions of power - Yellen is the Treasury secretary now. [3].
The real damage is coming from the status quo financial system that protects its own interests long before it cares about the needs of individuals. That is the problem defenders of the status quo need to take on if they really want to invalidate the crypto thesis.
Comments
It is definitely too late for his $250,000 short position to pay out, but he still might be able to capitalize on his book project.
There has already been a ton of damage done: 9 million jobs lost, 8 million home foreclosures, $20 trillion in household wealth lost[1]. Oh wait that was the 2008 financial crisis. Well at least with our modern and trustworthy financial system we held folks to account. Exactly 1 person went to jail.[2]. Well because our leaders are accountable to the people, we replaced them with new people that will act in our interest going forward. Just kidding they're all still in positions of power - Yellen is the Treasury secretary now. [3].
The real damage is coming from the status quo financial system that protects its own interests long before it cares about the needs of individuals. That is the problem defenders of the status quo need to take on if they really want to invalidate the crypto thesis.
[1] - https://www.investopedia.com/news/10-years-later-lessons-fin...
[2] - https://www.theatlantic.com/magazine/archive/2015/09/how-wal...
[3] - https://www.investopedia.com/insights/major-players-2008-fin...