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These are great examples, and your point is well taken. The https://loom.cc/faq https://loom.cc/faq system avoids this sort of nonsense altogether. An asset t
by fexl 16y ago
These are great examples, and your point is well taken.
The https://loom.cc/faq https://loom.cc/faq system avoids this sort of nonsense altogether. An asset type such as 2fcb2b81bb96bb51cec88edcb4b9a480 might represent a real underlying asset being traded, but only the true issuer of that asset could create new units of it.
Anyone desiring to sell that asset short would have to create a brand new distinct asset type such as 6b17a53d425dbb15f933b98ace93e587. This new asset type would represent just that one individual's liability to pay back the original asset. So the new asset type would in effect be a simple loan contract.
With this approach, the supply of the original asset type 2fcb2b81bb96bb51cec88edcb4b9a480 remains completely unaffected, and nobody needs to panic.
- fexl 16y agoI believe this is roughly how shorts are handled on the Lima stock exchange, through the mechanism of "Operaciones del Reporte" -- a peer-to-peer lending system on the exchange. These loans are fully collateralized, keeping the risk extremely low.
- parkan 16y agofexl, loom looks very interesting, and the maintainer (you?) actually touches up on some specific market-based ideas I've been sort of idly kicking around in the FAQ (e.g. phone service contract exchanges). Is there a way to get an invite/sponsorship to play around with the system?
- fexl 16y agoSure. I guess I could post it here, but maybe we could try hooking up at https://bonchat.org/9ff3842f90e90d5e https://bonchat.org/9ff3842f90e90d5e with "katie tiny judd". Or, more conventionally, visit the loom.cc web site and send an email from there (click Contact).
- steve19 16y agoPlease post and invite. I am sure many of us would like to try it.
- fexl 16y agoI have simplified the section titled "How do I use Loom to accept payments from customers on my web site?" https://loom.cc/?function=faq#shopping https://loom.cc/?function=faq#shopping