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Creativity is one of the hallmarks of a good poker player.
So it came as little surprise when Canadian poker pro Mike “Timex” McDonald came up with an innovative way to leverage the current staking marketplace, which he jokingly dubbed The Bank of Timex.
For anyone unfamiliar with short-selling, or the securities market in general, the Bank of Timex effectively serves two separate functions:
The gist: McDonald believes that the staking world is in a “markup bubble” – that players are (intentionally or unintentionally) pricing themselves too high.
Sounds like a great idea right? Fix the poker world while making some cash at the same time?
Yeah, well – spoiler alert – McDonald has already shut it down:
In addition to legal concerns, Bank of Timex also seems like the ideal way to alienate yourself from your peers, so McDonald may very well have shut it down to avoid any potential hassles and/or future confrontations.