Binary Options on Steem
Recently I was thinking about what kind of projects could work on Steem. Attracting attention, thriving the Steemconomy for all the Steemlanders. And one thing that could be implemented quite simple would be a Binary Options trade market. Decentralized, fast and with nill transaction costs. All payed in Steem of course...
The PUT and CALL options could be for the Steem price only at first. Using the internal market as the only reference. Because we, the virtual inhabitants of Steemtopia, prefer our own decentralized market, of course. So, if any derivative then at least from that.
Message in a transaction
How could it function? Well, the amount of a transaction would determine the investment. Should be at least one Steem, I guess. The message would determine if you PUT or CALL your transaction.
It could be like this: P15m, meaning a PUT option for a 15 minute target. Or C7d, for a 7 day timeframe CALL option. For future use the could have a prefix. Like GOLD where no prefix would mean default: STEEM.
Now, imagine what this could trigger. More interest for Steem. Growth in accounts, attracting more attention, more demand for liquid Steem. This could create the need for a different website. Purely as an interface to this, Steem powered, decentralized binary options trading market.
And with the upcoming hardfork it would be easy to get payed part of the profit. This would be made clear to whomever uses the trading platform. Now you do not need to be a visionairy to understand that this might rocket Steem to another level...
Or am I just dreaming into the wrong direction? What do you think the Steem platform could be used for?
Have great one!
100% Power Up Post {PUP}
photo cc-by-sa @oaldamster
@oaldamster I like the photo!
Mooi weer daar? hier te nat hahaha
Thank you @englishtchrivy!
That photo I took a while back, last year somewhere. Today it was raining pipesteels, eurm, cats 'n dogs I mean. 😁
@oaldamster indeed!
I wanted to clean the strawberry pots but could not
I was stuck inside hoping I could garden waiting for it to stop but it wont so I gave up .. will try again tomorrow
Hopefully better tomorrow. 😉
Good idea. Also would be nice to have options on other currencies. Steem can be gateway crypto and crypto-u
Thx.
The basic idea is that it starts off with just Steem, connected to the internal decentralized market.
And as an ongoing proces add other 'coins', indices, raw materials and so on and so forth.
Steem has a lot of gateway potential.
We should use that more. It should be a place to learn about crypto, earn crypto, store crypto, and trade crypto. It is already what dash evolution wants to be except we built the walled garden first and they built the external demand first.
Absolutely! With Steem so much more can be done, it is already all there. The thing is to be able to look beyond the interface known as SteemIt. It is one possible usage. But there will be more innovations to come. And like you wrote, Dash has to create what Steem has had from the start.
https://steemit.com/steemit/@ender/steem-missing-a-huge-opportunity-to-become-crypto-u-by-dreaming-too-big
Profit-sharing communities or small companies that trade goods or services in the Real Worldtm using Steemit for communications and Steem for transactions, or buying Steem with their gains to transfer and share profits, like postcard photographers, Aceh coffee exporters, Waddenzee-resistent boot makers, painters, cooperating journalists' news services, etc.
I would rather see a real economy developing that creates demand for Steem than go straight to derivatives. Don't like derivatives, never did, I fear they will add instability without adding substance to Steem.
I will readily admit I'm preoccupied with coffee, but bear with me: imagine the Aceh community getting together and selling their fine coffee beans to a small, local coffee roastery in Enschede, The Netherlands using the Steem platform as infrastructure for their cooperative company. Hm, coffee.
As a coffee junky myself I would support your ideas absolutely. 😁
For me Steem could be used as a multiple gateway for a lot of different real life solutions. And I do understand your critical view about derivatives. It is gambling/speculation in essence.
Yet, what made me still suggest it is that I think this would also benefit other uses. Like colaboration setups, community projects. Shared profit groups, small companies and fair trade, cutting out the middleman, governments, banks and multinationals.
For me it would be the diversity in applications that would give tremendous value to Steem. Not meaning in pure cold hard cash, but in creating a new economical paradigm. Where things will move to voluntarism, thriving on colaboration, as a natural evolving proces.
So, I do support your ideas and it would be great to see those come to life.
Oh, and to use the famous line of one 'Jean Luc Picard' concerning your coffee trade plan on Steem: "Make it so!"
This post has been ranked within the top 80 most undervalued posts in the second half of Mar 08. We estimate that this post is undervalued by $3.91 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Mar 08 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.