Crypto Market Short Coin aims to provide a simple way to bet against the Crypto Market.
The coin automatically burns a percentage of its own supply when the total market cap of all other coins drops, shortening the supply and making the investors' coins more valuable.
Furthermore, the Crypto Market Short Coin allows you to actively bet your CMSC against other coins and earn CMSC if the market capitalization of the targeted coin drops.
The Crypto Market has been very volatile eversince. Ups and downs of about 25%-30% per day have occured more than once. Recently the market has gone crazy with ICOs raising millions or even billions of dollars for non-existing products. In addition, governments and central banks around the world have already started to watch the market more closely. New regulation will undoubledly follow.
For all these reasons we strongly believe that further strong corrections of the current crypto market will happen and are just a matter of time.
Unfortunately investing against the Crypto Market or against single coins today is very complicated, if not impossible. Ever heard of CFDs, Margin Trading, Futures, Binary options? No? You're not alone. Due to their complexibility and high risk (you can loose more than your initial investment) they are limited only to professional traders. Also, they allow only to invest against specific coins, not the Crypto Market in general. To our knowledge, as of today there is no possibility to invest into a decrease of the total Crypto market cap.
With the Crypto Market Short Coin we aim to create an easy way to invest against the Crypto Market. The coin is designed as an asset that automatically burns a percentage of its own supply when the total market capitalization of the Crypto Market falls (based on coinmarketcap.com total market cap). This shall lead to a price increase because of the shortening of supply. If only 0.01% of the money being taken out of the other coins during a consolidation phase will be invested into the Crypto Market Short Coin ... Well, you can do the maths!
The Crypto Market Short Coin allows to actively bet your CMSC against the coin of your choice. If the targeted coin looses market capitalization within a specified time period, you will earn an amount of CMSC equivalent to the percentage of the market cap loss (or you might loose CMSC if the targeted coin increases market cap).
All bets will be stored and handled within the Ethereum Blockchain (ERC20 Token), transparent and secure. The CMSC Panel allows you to track your Bets and to place new ones.
Please note that the Crypto Market Short Coin is not an investment fund. We won't make any short investments against coins.
The results of all bet evaluations depend on the market capitalization stats provided by coinmarketcap.com. We reserve the right to revoke bets that are based on obvious data errors. All bets and bet results are always visible within the public Blockchain, retrievable by everyone.
The total supply of CMSC is negatively dependend on the Crypto Marketcap (based on data from coinmarketcap.com) and updated regularly. However, we reserve the right to burn unsold tokens or issue new ones with reasonable prior notice.