BitShares Forum
Main => General Discussion => Topic started by: JonnyB on August 21, 2016, 07:17:37 pm
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I'm going to assume you already understand how bts smartcoins work in this post. AKA bitassets AKA MPAs
I think creating BitSteem would make alot of sense as a smartcoin.
Firstly because of the natural synergys between the bitshares and steemit users but more importantly this would be a bit asset that many people would actually want to short.
Whales with vested SP might want to hedge their large positions by shorting steem.
Someone who wanted to power down their SP over 2 years could be guaranteed a fixed payout if shorted correctly
When people call Steem a scam you can suggest they put their money where their mouth is and short it.
The issue with BitUSD, BitGold, etc is it is only created when theres a trader willing to short it into existence so the supply has been limited so far.
I think there would be a good supply and decent liquidity of BitSteem because of an appetite to short from traders.
I've also posted this on steemit if you wanna give me some upvote love:
https://steemit.com/bitshares/@JonnyBitcoin/why-steem-might-actually-make-sense-as-a-smartcoin
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You need to correct your steemit link. There are no capital letters in steemit accounts, so yours in the above link must be jonnybitcoin