It increases your exposure to BTS...  If BTS falls versus bitUSD when you cover, you must use some of your posted collateral.  If you shorted 100 bitUSD and received 10,000 bts in return you need to pay back the 100 bitUSD within 30 days.  If BTS has fallen by 10%  you would need to convert your borrowed 10,000 BTS plus 1,000 additional BTS to pay back the 100 bitUSD.  You would have a net loss of 1,000 BTS.

If the price of BTS rises vs bitUSD you still need to return the 100 bitUSD by the end of the shorting period of 30 days.  If BTS rises 10% vs bitUSD you would convert 9,000 bts into 100 bitUSD and cover your short position.  You would keep 1,000 BTS from the original 10,000 BTS that were borrowed.  You would have a net gain of 1,000 BTS.

24 hours from now -- "Way to jinx it lil_jay890".

 

lol but in all seriousness this is long overdue.

It just feels like we had a classic bottom with max bad news...

BTER Hack
PTS Vesting Selling
Dev Tax Selling
Dev's & delegates focusing on other projects because delegate pay was too low
Constant week long delays in github
Grasping at straws to increase liquidity
All time high in doubt that BTS would ever be successful

Then all of a sudden in the last mumble with BM he did something great... He made it clear that the Dev's will only be focusing on a stable product and platform, would keep private any announcements with the chinese, and quit trying to "code" bitshares to a higher market cap with gimmicks and is letting 3rd parties take BTS to the next level.  These didn't seem like they were that big of a deal, but it was a noticeable change in Dan from the previous mumbles.

You got it

I also agree that this should be posted somewhere useful.  I was in your same position when I first tried to short and none of my orders were getting filled.

Quote from: btcwagering on February 23, 2015, 04:21:34 pm

Last night I tried to short BitUSD, providing a sell price equal or less than the highest bid price.

The inputed short sell price should have matched the highest buy price on the order book, but nothing happened.

I did look at the other short orders and posted a favorable APY, again to no effect.

The question remains, how exactly does the short sale execution work? It is very opaque as is the appropriate APY and that is a problem.

You can't short below the feed price...  The resting bitUSD buy orders are usually located below the feed price and this is why you cannot do a "market" short.  If the feed price starts moving lower, it will eventually hit the resting bitUSD buy orders and this will initialize the short orders on the books.  Shorts will be filled in order of highest offered APY.  Offering a very high APY will only gaurantee that you get filled first once the feed price moves into the buy orders.

Look on https://bitsharesblocks.com/asset/orderbook?asset=USD and notice the Green orders that terminate at the dotted feed line.  These are the current short orders.  They cannot short below the dotted line.  Once the dotted line starts moving lower into the buy orders, the shorts will be filled.

I would sacrafice my couple snapshots that I had on BTER if it meant that hundreds of millions of BTS are effectively un-sellable... it's like we have just done a massive share burn

Quote from: wesphily on February 22, 2015, 06:43:52 pm

I'm planning to acquire rental properties through seller financing. I have 2 possible deals. Traditionally, a person would use a hard money lender for down payment if they did not have the capital.

This isn't my only attempt at trying to use bitshares. I have previous posts about trying to use bitshares for other parts of real estate. I think it is because I'm requesting things that are not possible yet.

If you have the capital or a traditional loan, Your best bet would be to create an asset. You could then sell the asset and then pay it dividends based off your positive cash flow. Unfortunately,  everyone who buys your asset would have to trust you. It would probably work well with  family and friends right now but it would be like your own personal stock. Again you would need the money up front or some great reputation that translated over to being very trustworthy. Perhaps you could start small and prove you're trustworthy. Although to work your way up to house loan amounts may take a long time as our user base is quite puny.

This seems to be the lynch pin with UIA's.  There needs to be either some form of trust that dividends will be paid honestly or have some central authority to enforce promises made by the borrower... right now there is nothing stopping a borrower from running off with a bunch of bitUSD and leaving the lenders with useless UIA's.

It would be awesome if somehow we could do this with a UIA...  Send bitUSD to recieve a stake it bitBTER seems like a good way to raise the funds fast from people who want to bail out BTER.  That way you don't have to wait for the delegate to earn enough money to buy bter.  I'm guessing BTER will be gobbled up or liquidated within the next couple weeks.