Redditors block big business from shorting crypto

Redditors are increasingly proving a choke-point for attempts by big companies to make a quick buck on shorting crypto assets.

One such instance is the $LINK marines which support the Chainlink (LINK) project and which, last year, counterweighted an attempt by Zeus Capital to short the altcoin.

When Zeus Capital announced plans that it would begin a “shorting” attempt, the LINK marines responded by quickly moving in on the asset, refusing to sell and making sure that the currency's price continued to increase, putting Zeus Capital in a difficult situation.

As Gemini exchange co-founder Tyler Winklevoss said, the $LINK marines are a community of like-minded people who are willing to go the extra mile to defend a project they believe in. In many ways, the $LINK marines are a community that is similar to the early Ethereum and Bitcoin communities.

While not all such cases concern the crypto space, Redditor investment communities are proving custodians of right and wrong.

When Citron Research said it would open a short position for GameStop assets and list the game retailers' asset at $20, the tweet it originally shared was inundated with so many responses that the company didn't manage to provide any further details.

Moving forward, targeting short positions is expected to come under scrutiny by the broader public, which now includes many millennials who are looking for smart, but also idealistic investments.

With the crypto sector also suffering from rapid changes and dumping of currency, vigilante Redditors may yet come to the rescue offering bedrock against which the capriciousness of investors may be kept in check.

In the meantime, there are many great crypto gambling websites to visit, including Bitcasino, FortuneJack, and 1xBit.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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