RE: Shorting STEEM market asset idea
Interesting idea, but I wonder how it can be implemented so that it does in fact move opposite to Steem in its price.
If there was a way to borrow Steem, then you could sell it now and buy it back later if you thought it was going to go down. @steemfund loaned me 600 Steem as a test of their program to provide Steem loans. But there is the matter of insuring that whatever is loaned is paid back according to the terms. I guess that is the classic way to short an asset, and perhaps you will find a way to short without the trust issue. I know there are ETFs that purport to short certain indexes so maybe you can look into whatever they do and use some of that in your project.
In any case, it is good to have the ability to profit when Steem goes down, so I look forward to see what you implement. Best wishes!
Thank you for your reply. Could not borrow right now. Also in the future, margin function will be added with the bitshares DEX sometime it looks like. As well as dividends. Which is another feature I am waiting for.
Could offer to do loans and use other crypto for collateral maybe. I remember your loan with steemfund. May just be mostly a thought as we may not be quite ready for such ideas just yet.
bitSTEEM (MPA) could be a good idea
That's a thought to consider. :)
sooner or later someone will do it