Re: (LVG) LVGCoin - Developing an altcoin margin trading platform
This is a margin trading platform, people borrow money with the intent of making profit with it so they can keep the profit. typically there has to be a lender in this scenario and in this case the lvg team will be the lenders, if you are making a bad trade it eats into your balance on the platform and when you reach 0 the position is closed as you no longer have the funds to keep the trade open. say you had 1btc in your account, made a really bad trade and lost the 1btc, if you were holding enough lvg to unlock the 20% feature you would be given 0.2btc of your loss back. again there isnt a need for extra funds in that scenario as the funds came from the user who is getting the 20% back.
You just admitted that the LVG team will be reimbursing 0.2 BTC out of your own pocket.
winning trader:+1 BTC
losing trader: -0.8 BTC
LVG team: -0.2 BTC
Who needs a sustainable business model when you're an outright scam from the start
Did you not think this through?
when margin trading its the trader vs the lender. that trader can win or lose when they play the market. if that person has the 20% off the loss feature on thier account then they arent losing quite so much to the lender. the "winner" in this scenario isnt necessarily a winner either because they still have to deal with the market and it can still go against them. the chances of someone else making the exact trade but with the alternative outcome is very low. also the feature could only be possibly avaliable to 8 people so its not a huge an issue as its been made out to be, i have said that if people are against this feature we remove it.
LOL got it, more proof that you have no idea what you're talking about.
The winning trader is up 1 BTC by your own admission. He can absolutely withdraw the 1 BTC of profit, or do you not plan on allowing withdrawal of profits?
At the same time, you're reimbursing 0.2 BTC to the losing trader, which he is also free to withdraw. So you are out 0.2 BTC. There's no other way to spin it. Now you're trying to backtrack saying "we don't have to do it if you don't like it" LOL well no shit. It was never feasible to begin with, just a "marketing spin" you didn't think through properly, hoping people would invest in your scam ICO.
Your scam career is off to a very poor start kid.
the platform works like the poloniex margin tab or a btcusd margin trading platform, you can't withdraw borrowed money. the buyer of the person who has made a loss may have enough in his buy order or whatever to buy the bad trade without having to borrow money, it doesnt really matter. the losing trade is only allowed to go on until the point in which the trader cannot pay it back and the trade closes automatically as to reimburse the lender. the buyer of the bad trade is on a seperate contract amd strategy and is dealt with accordingly.
this is the last im going to reply to this thread of messages, ive tried my best to explain how it actually works but you seem pretty intent on shouting scam at this so i dont think it mattered at all how i replied. if you have any more question on a different area im happy to reply.