[Cryptography] Cryptocurrency: CME Approved, Coin Paychecks, FED, OpenBazaar ZEC BCH

[John Gilmore]

> The SEC has extensive rules about short selling, most based on painful 
> experience as far back as the 1920s...

Short selling is a key signal in the market.  It provides a way to
make money by betting that a stock is priced too high (for any
reason).  A market that lets you bet that a stock will go up (by
buying it, "going long" on it) but that prevents you from betting that
a stock will go down (by shorting it) tends to produce less accurate
information about the underlying company - particularly when it costs
too much.  Since that situation is when "long" owners of the shares are
likely to lose money, short sellers can provide a warning to discourage
buyers from investing when they're likely to lose.  Of course, those
prospective buyers would actually have to LOOK and HEED that warning
to avoid losses; it's not automatic.

I recently read a great book about stock trading that goes into great
detail about short selling.  It's a classic from 1923:

  Reminisces of a Stock Operator
  Edwin Lefevre

Well worth reading if you have any serious interest in stocks.  The
protagonist worked his way up from making penny margin trades on
stocks as a teenager in the 1890s, to being a big wheel in the New
York stock exchange.  You can borrow it (one person at a time, in your
browser) from the Internet Archive here:

  https://openlibrary.org/works/OL15856550W/Reminiscences_of_a_stock_operator

To borrow books, you'd need to make a free Internet Archive "library
card" (i.e. login account).

	John