I have a few questions about shortBTCD
OK, I understand that if BTCD goes down by 10%, shortBTCD goes up by 10%
If lets say I have 10BTCD what is the equivalent of this in shortBTCD in order to receive for example the -10% loss of BTCD ?
Is shortBTCD in an exchange? Where do I sell/buy/trade it?
To buy it for the first time, do I have to send NXT ?
ShortBTCD is traded on the NXT asset exchange. Its current target price is just over 80 Nxt (based on BTCD/BTC at an average price of 0.01086 as I type). With Nxt at 0.000635 BTC, each ShortBTCD would therefore be worth about 0.005 BTC at the moment. If you wanted to hedge 10 BTCD (~0.1 BTC), then, you'd need about 20 ShortBTCD.
Of course these calculations change as BTCD/BTC and NXT/BTC fluctuate (which they're both doing at the moment).
Edit: Also, please make sure you understand the calculation methodology for the intraday and daily price changes before buying. The asset tracks the inverse daily percentage gain, which mathematically can diverge from the aggregate inverse percentage gain over time. Details at the discussion thread.