How to Short & Cover a BitAsset

I would like to thank cryptosile from EveryDayCrypto for producing a great video walkthrough on how to use the BitShares wallet to create and cover a BitAsset. I will probably be producing a similar video at some point in the future, but for now this is the best that is available.

Some minor corrections and clarifications:

  1. Initial Margin is 3x the value of the BitAsset created
  2. Minimal Margin is 2x the value of the BitAsset created
  3. If minimal margin is reached then collateral will be sold and 5% of any remaining collateral will be collected as a fee.
  4. Margin positions expire after 30 days and your collateral will be used to cover without any fees.
  5. Transaction fees are paid in BitBTC if you have enough BitBTC to pay the transaction fee.

If you have questions about this video, it is being discussed at

© Daniel Larimer