Maybe something big is brewing when one of the main casino's spot arb starts to get seriously outta wack like way back?
Interesting post, if more than a little unclear.
ELI5: How is the spot arb getting out of whack? Is someone doing something? What are they doing?
Paperization runs the risk of price discovering there are no bailouts: a covering willybot with current market dimensions could produce spectactular results
Could you elaborate on that?
I too am curious what is being referenced here. Is a casino's arb getting out of wack as described? How far off is the exchange rate? Which casino?
Certainly it is being alluded to that a casino is offering it's clients paper Bitcoin in an effort to mask losses of some kind. I'd be interested in researching this a bit more as we all know how the FTX situation ended for the market. If we're starting to see obvious cases of entities using paper Bitcoin and not being able to cover client holdings, it is time to say goodbye to the market for a couple years.