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59 sats \ 3 replies \ @nout 18 Mar 2023 \ on: Balaji betting $1 million that 1 BTC is > $1 million in 90 days bitcoin
I'm trying to parse what are the actual conditions of the bet? How much did he hedge?
Counterparties can bet that bitcoin's price will be less than $1m in 90 days with ~40:1 odds. Specifically, he bet 2 people bitcoin will be at $1m in 90 days. If he wins, they pay him 1 bitcoin. If they win, he pays them $1m.
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Did the other people KYC or is this a new boating accident strategy?
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I think it’s people he knows
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