For example, let's say you want to open a long position for 100 bitcoins. That means you want to buy 100 bitcoins hoping to the price will go up. The system will borrow for you 100 * the bitcoin price US dollars (let's say 1300 USD) from lenders, at the best rates available.
You are going to leverage bitcoins by a factor of 100? That is just plain impractical considering how much the market can move in a day. Even with forex, leveraging by 50 is risky and that only moves by a few percent a day at most. Bitcoins can change value by 50-100% in a few minutes, resulting in gains or losses of up to 10000%?
Who is providing the leveraged funds? What happens if you can't hit a stop loss because the exchanges have a trading lag?