Scott is wrong about the short narrative here: a bridge company wanting to build a bridge would love an insane shorter from goldman; it would cheapen the base cost of acquiring an asset the builder knows will be worth a lot later.
If instead the tokens aren’t fungible and cant be sold after the initial auction then the only instruments will be virtual, a sort of prediction market, and again the bridge builder would benefit from engaging in those markets.
If the bridge builder was already going to fail then there would be incentive to sell short the virtual token and the market would therefore have added some prediction value: I don’t think it is broken like Scott suggests.
If instead the tokens aren’t fungible and cant be sold after the initial auction then the only instruments will be virtual, a sort of prediction market, and again the bridge builder would benefit from engaging in those markets.
If the bridge builder was already going to fail then there would be incentive to sell short the virtual token and the market would therefore have added some prediction value: I don’t think it is broken like Scott suggests.