I wanted to give another example of shorting the USD via BitShares and bitUSD loans. Please <a href="https://steemit.com/trading/@lukestokes/a-simple-example-of-shorting-the-u-s-dollar-with-bitshares">see my previous post for more details on how this works</a> (along with the links within that post).

Since the price of BitShares has been going up quite a bit lately, I went a little bigger this time with a $3,000 bitUSD loan 9 days ago and bought bitShares with it.

<a href="https://content.screencast.com/users/lukestokes/folders/Jing/media/a87a5bcf-4842-4714-bea6-ee3ceb1f242f/00003210.png"><img src="https://content.screencast.com/users/lukestokes/folders/Jing/media/a87a5bcf-4842-4714-bea6-ee3ceb1f242f/00003210.png"></a>

6 days ago when I heard about the opportunity to support @zappl by purchasing ZAPPL on OpenLedger, I went ahead and adjusted my debt by another $200 which got me 199 ZAPPL:

<a href="https://content.screencast.com/users/lukestokes/folders/Jing/media/98fff27f-57a8-46a3-8de7-548a6d4854da/00003214.png"><img src="https://content.screencast.com/users/lukestokes/folders/Jing/media/98fff27f-57a8-46a3-8de7-548a6d4854da/00003214.png"></a>

Today, I saw my collateral ratio sitting at a nice 7.51 (I started at 5.00) and decided it might be a good time to close things out:

<a href="https://content.screencast.com/users/lukestokes/folders/Jing/media/6d6f299a-816a-4dfa-9082-18e039b84363/00003209.png"><img src="https://content.screencast.com/users/lukestokes/folders/Jing/media/6d6f299a-816a-4dfa-9082-18e039b84363/00003209.png"></a>

So I placed an order to buy up 3,200 bitUSD at $.065 per BitShare:

<a href="https://content.screencast.com/users/lukestokes/folders/Jing/media/3c91c149-9047-4809-8ee7-356dd6b640ad/00003215.png"><img src="https://content.screencast.com/users/lukestokes/folders/Jing/media/3c91c149-9047-4809-8ee7-356dd6b640ad/00003215.png"></a>

Once that hit, I had my bitUSD to pay back my loan.

I simply clicked _Close position_ in OpenLedger:

<a href="https://content.screencast.com/users/lukestokes/folders/Jing/media/df51fc03-fd90-497d-976f-5fdd19163efb/00003211.png"><img src="https://content.screencast.com/users/lukestokes/folders/Jing/media/df51fc03-fd90-497d-976f-5fdd19163efb/00003211.png"></a>

Entered my password and closed things out:

<a href="https://content.screencast.com/users/lukestokes/folders/Jing/media/79f2f9a3-68e5-466f-a55d-d92c2b7670a0/00003212.png"><img src="https://content.screencast.com/users/lukestokes/folders/Jing/media/79f2f9a3-68e5-466f-a55d-d92c2b7670a0/00003212.png"></a>

Which eliminated my debt:

<a href="https://content.screencast.com/users/lukestokes/folders/Jing/media/a1971711-3fa5-450a-9cc8-35aedf1777f7/00003213.png"><img src="https://content.screencast.com/users/lukestokes/folders/Jing/media/a1971711-3fa5-450a-9cc8-35aedf1777f7/00003213.png"></a>

So in just nine days, I got to support @zappl to the tune of $200 for free while also netting myself 19,821 BitShares which as of right now is worth around $1,225. Not bad considering I didn't do any real work here, and it didn't involve any additional investment of capital. I was simply using my own BitShare holdings as collateral to borrow bitUSD into existence via a smart contract.

Anyone can do this. Imagine if we all started shorting the value of the dollar against cryptocurrency using bitUSD and BitShares/OpenLedger?

Smart contracts are going to change the world. If you haven't yet, sign up for the EOS mailing list at http://eos.io/ to keep track of Dan Larimer's next project which is all about smart contracts via messaging.

**Related Posts:**

 * <a href="https://steemit.com/trading/@lukestokes/a-simple-example-of-shorting-the-u-s-dollar-with-bitshares">A Simple Example of Shorting the U.S. Dollar With BitShares</a>
 * <a href="https://steemit.com/bitshares/@lukestokes/playing-in-the-margins-bitusd-and-bitshares-on-open-ledger">Playing in the Margins: bitUSD and BitShares on Open Ledger</a>
 * <a href="https://steemit.com/cryptocurrency/@lukestokes/my-altcoin-investments-a-steemit-story">My Altcoin Investments: A Steemit Story</a>

-----

<p>
    <div class="pull-left">
        <a href="https://steemit.com/introduceyourself/@lukestokes/my-name-is-luke-let-s-create-the-world-we-want-to-live-in"><img src="https://storage.googleapis.com/steemimgimgs/2016/10/23/luke_stokes_head_shot31b50.png" /></a>
    </div>
    <div class="pull-right">
        <a href="https://steemit.com/@lukestokes"><img src="http://steemimg.com/images/2016/09/22/lsverify1a310.png" /></a>
    </div>
    <em><a href="https://steemit.com/introduceyourself/@lukestokes/my-name-is-luke-let-s-create-the-world-we-want-to-live-in">Luke Stokes</a> is a father, <a href="https://steemit.com/@corinnestokes">husband</a>, <a href="https://www.foxy.io/">business owner</a>, programmer, voluntaryist, and blockchain enthusiast. He wants to help create a world we all want to live in.</em>
</p>