I don't like live bets, so frankly, it's hard for me to understand what's the problem here. I read the original post, the explanation of Betcoin and many posts in this discussion, but if ralle14 did not understand it right (and it seems that he's not the only one who interpreted it this way), neither did I. I support the idea with the video, it would really help to see what goes supposedly wrong and to compare it with other websites. I could then try to do my own little experiment on Sportsbet.io and tell you whether it had the same process or not.
Live betting can be interesting sometimes! If I understood it correctly, the problem here is a bet processing! Basically in live betting odds are changing all the time, so you can't place bet in some moments (betting can be locked for several reasons I guess, but the main one is result change or something that can affect it, like penalty in soccer).
Example in soccer should be team 1 vs team 2 and it's 0:0 in 75 min. of the game! Let's say that team 1 is better and odds are 1.3 for their win, 1.7 draw and 2.5 on team 2 to win! So you wish to place bet team 1 to win and in that moments team 1 scores your bet will not be accepted, but if team 2 scores (which means you will lose your bet most likely) your bet will be processed.