How BitShares and BitAssets trading works - The BitShares world is divided into two types of users, which Larimer calls ‘speculators’ and ‘savers’. Similar to conventional markets, the speculators try to make as much money as they can and stand to lose everything, whereas the savers concentrate on low risk and relatively steady returns. In this system, speculators gamble on the value of assets (such as gold, dollars, and bitcoins), as related to BitShares. They do this by creating BitAssets, such as BitBTC or BitUSD, backing them with BitShares as collateral. This enables them to take short or long positions on the assets, betting that they will go down or up in value. BitAssets, then, are financial derivatives: they’re agreements between two parties, designed to represent the value of an underlying asset. tgigoworldwide/bitshares-p2p-trading-platform-to-offer-dividends-on-bitcoins/
Posted on: Tue, 26 Nov 2013 11:07:24 +0000
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