Re: Puts and $0 BTC

1) Buy a put on BTCUSD; you are going to put USD on someone in exchange for BTC.
2) Bitcoins go to $0
3) You will not make money, you bought the right to sell USD for bitcoins.


Since underlying is USD, you want a call if you are short BTC.

Note, I am considering reversing this mechanism, that is making the default USDBTC, since there are a LOT of questions and confusion about it. TO be clear: a put on USDBTC is a call on BTCUSD.