I've just thought of an issue with shorting bitsteem. Most people using the scenarios above would want to short steem with the dollar not bts. Would still be useful for many but not a simple as i first envisaged.
RE: Why Steem might actually make sense as a Smartcoin
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Why Steem might actually make sense as a Smartcoin
use bitUSD as collateral
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You can't create bitsteem from bitusd. Only bts as far as the Gui shows.
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You sure?
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#bitshares #smartcoins can be backed by the value of any stock, share, index, fiat or crypto currency including bitUSD.
As an example of the versatility of bitshares, I created ALTCAP and ALTCAP.X smartcoins. They are backed by the value of Bitcoin using bitBTC as collateral:
Info @ http://cryptofresh.com/a/ALTCAP
Info @ https://bitshares.openledger.info/?r=by24seven#/asset/ALTCAP
Info @ http://cryptofresh.com/a/ALTCAP.X
Info @ https://bitshares.openledger.info/?r=by24seven#/asset/ALTCAP.X
You can trade ALTCAP and ALTCAP.X on BitShares Decentralised Exchange exclusively at:
https://bitshares.openledger.info/?r=by24seven
https://secure.freedomledger.com/?r=by24seven
https://altcap.io/?r=by24seven
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