TetraExchange. Bitcoin derivative approved.

[liquidiser]

I don't understand stock market stuff, or the jargon, but a news article blamed the great depression on short selling. I don't really understand what short selling is, but I hope it doesn't drag bitcoin down. Is anything like that possible now TetraExchange is up and running?

[Newbie1022]

Does anybody know if they are going to be able to do naked credit default swaps (multiple insurance policies on the same underlying asset -- here, bitcoins -- regardless of whether they own a stake in it)? That's what it appears to be saying. If so, while this is probably a non-event, it does have the potential to be very negative news. The idea is that you can cause a crash in Bitcoin fairly easily if you are a whale and you can collect several orders of magnitude times the losses that you created. This was Goldman's strategy during the financial crisis.

Will this happen? I don't see it happening. Too many tech savvy kids in the bunch and whoever did this would suffer hack attacks and DOS's for the rest of eternity. But it is a creepy thought and one to just watch for... not to act on (at least not yet at all).