(LVG) LVGCoin - Developing an altcoin margin trading platform - page 4.

donnyespo

hero member

Activity: 827

Merit: 1000

Twitter: @bitcoin_dad

Quote from: lvgtrading on November 14, 2015, 08:27:19 AM

Quote from: Lolzzzzzzz on November 14, 2015, 08:12:59 AM

Quote from: lvgtrading on November 14, 2015, 08:08:00 AM

crowdfunding is now complete, we have raised 1.55455312BTC so a big well done and thanks to everyone.

download the wallet and give me an address to send to, there are about 1000 blocks of POW to help get the network running

Shouldn't we send addresses to Klaasje he is the escrow service?
I'm confused. Huh

we have the LVG coins so we need to know the addresses to send people coins to

the download link is not working on my end

Lolzzzzzzz

newbie

Activity: 15

Merit: 0

Quote from: lvgtrading on November 14, 2015, 08:27:19 AM

Quote from: Lolzzzzzzz on November 14, 2015, 08:12:59 AM

Quote from: lvgtrading on November 14, 2015, 08:08:00 AM

crowdfunding is now complete, we have raised 1.55455312BTC so a big well done and thanks to everyone.

download the wallet and give me an address to send to, there are about 1000 blocks of POW to help get the network running

Shouldn't we send addresses to Klaasje he is the escrow service?
I'm confused. Huh

we have the LVG coins so we need to know the addresses to send people coins to

How do you know how to send right amounts to right people.
Some people might be asking for coins although they haven't taken part in the crowdfund?

lvgtrading

newbie

Activity: 24

Merit: 0

Quote from: Lolzzzzzzz on November 14, 2015, 08:12:59 AM

Quote from: lvgtrading on November 14, 2015, 08:08:00 AM

crowdfunding is now complete, we have raised 1.55455312BTC so a big well done and thanks to everyone.

download the wallet and give me an address to send to, there are about 1000 blocks of POW to help get the network running

Shouldn't we send addresses to Klaasje he is the escrow service?
I'm confused. Huh

we have the LVG coins so we need to know the addresses to send people coins to

Lolzzzzzzz

newbie

Activity: 15

Merit: 0

Quote from: lvgtrading on November 14, 2015, 08:08:00 AM

crowdfunding is now complete, we have raised 1.55455312BTC so a big well done and thanks to everyone.

download the wallet and give me an address to send to, there are about 1000 blocks of POW to help get the network running

Shouldn't we send addresses to Klaasje he is the escrow service?
I'm confused. Huh

lvgtrading

newbie

Activity: 24

Merit: 0

crowdfunding is now complete, we have raised 1.55455312BTC so a big well done and thanks to everyone.

download the wallet and give me an address to send to, there are about 1000 blocks of POW to help get the network running

donnyespo

hero member

Activity: 827

Merit: 1000

Twitter: @bitcoin_dad

im in better late than never

buchaski

member

Activity: 78

Merit: 10

just downloaded the wallet and it works, also sent a bit of btc to see what happens could be a fun ride

lvgtrading

newbie

Activity: 24

Merit: 0

into the final 2 hours of the crowdfunding with 6 different contributors

wallet: https://mega.nz/#!bI02RLbT decryption key: !jnUBCrnapHADfnIrQcJUUhd-IUnR4zuJVYL6YUnNauY

source is here

lvgtrading

newbie

Activity: 24

Merit: 0

Into the final 24 hours of crowdfunding, so far we have had 3 contributors

crowdfunding ends at 2pm (GMT+1) on saturday the 14th so if you wish to be part of the launch then thats the time to send it by

lvgtrading

newbie

Activity: 24

Merit: 0

Just to clarify the timescale -

the crowdfunding finishes on the 14th of November,

14-21 of November is about promotion for the exchanage and ensuring the basic coin amenities

21st of November we will begin taking signups for the beta platform

1st of December beta users will be allowed to enter and use the platform

if there are no issues found upon initial usage the platform will be open to everyone on December the 5th

Woody20285

legendary

Activity: 1218

Merit: 1002

Supporting DMD, ERC & PIO

I believe that what the dev is trying to say is the trader must have enough fund to cover the entire loss plus the loan fee and gets a refund of 20% of the loan fee. If the trader has enough BTC to cover ther entire loss, why pay the loan fee.

If I trade on margin, I think I will use an established platform and look back here when you are established for a year or 2.
Why would I send my BTC to a platform that may just be a BTC grab. Not that this is but, I am not that trusting.

Good luck!

DrkLvr_

hero member

Activity: 724

Merit: 500

Quote from: lvgtrading on November 08, 2015, 02:30:04 PM

Quote from: DrkLvr_ on November 08, 2015, 01:57:56 PM

Quote from: lvgtrading on November 08, 2015, 12:40:05 PM

Quote from: DrkLvr_ on November 08, 2015, 12:01:04 PM

Quote from: lvgtrading on November 08, 2015, 11:30:05 AM

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 Cheesy

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? Roll Eyes

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.

Because there is no platform. You have little to no knowledge of how margin trading actually works. Poloniex is not a counter-party or market maker like you're suggesting, there is someone on each side of every trade.

Try putting a little more effort into your ICO scam next time Roll Eyes

lvgtrading

newbie

Activity: 24

Merit: 0

Quote from: DrkLvr_ on November 08, 2015, 01:57:56 PM

Quote from: lvgtrading on November 08, 2015, 12:40:05 PM

Quote from: DrkLvr_ on November 08, 2015, 12:01:04 PM

Quote from: lvgtrading on November 08, 2015, 11:30:05 AM

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 Cheesy

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? Roll Eyes

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.

DrkLvr_

hero member

Activity: 724

Merit: 500

Quote from: lvgtrading on November 08, 2015, 12:40:05 PM

Quote from: DrkLvr_ on November 08, 2015, 12:01:04 PM

Quote from: lvgtrading on November 08, 2015, 11:30:05 AM

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 Cheesy

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? Roll Eyes

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.

lvgtrading

newbie

Activity: 24

Merit: 0

Quote from: DrkLvr_ on November 08, 2015, 12:01:04 PM

Quote from: lvgtrading on November 08, 2015, 11:30:05 AM

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 Cheesy

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.

DrkLvr_

hero member

Activity: 724

Merit: 500

Quote from: lvgtrading on November 08, 2015, 11:30:05 AM

Quote from: DrkLvr_ on November 08, 2015, 11:07:13 AM

Quote from: lvgtrading on November 08, 2015, 10:44:59 AM

Quote from: DrkLvr_ on November 08, 2015, 10:13:28 AM

Quote from: lvgtrading on November 08, 2015, 09:01:24 AM

Quote from: DrkLvr_ on November 08, 2015, 08:33:22 AM

Quote from: lvgtrading on November 08, 2015, 08:24:24 AM

i mentioned before that the crowdfunding isnt really about raising funds, myself and my trading partner are contributing the bulk of the funds needed, the crowdfunding was to raise some awareness of the project and also allow anyone who wishes to support it the chance to be rewarded financially too in owning some of the coin

Sure.. the anonymous "lvgtrading" account newly created and the anonymous "trading partner" don't need to raise funds Roll Eyes

In that case, why not show us your altcoin trading platform first instead of being just another shitcoin and ICO. I'll tell you why.. because there is no trading platform. There's just you (a newly created anon account), a 0.1 BTC shitcoin creation service, and an ICO/crowdfunding scam.

You also haven't answered who is supposed to pay for the 20% trading losses for 3000 LVG holders. So you're going to reimburse every loss out of your pocket because you're such a nice guy? Lol... lie a little more...

We've stated in our announcement page that regardless of the result of the crowdfunding we will be launching and if we were to raise nothing, will distribute the coins evenly amongst everyone who wants them.

I understand the lack of trust and thats completely fine at this stage just wait till we start delivering

if someone lost 1btc margin trading, they have lost 1btc. ]the idea for people holding enough coins to unlock the feature is that of that 1btc they would be returned 20% (0.2btc) so its not as bad a loss, hope that clears that up, there isnt actually a need for funding in that feature

No that doesn't clear it up at all. Where is the 0.2 BTC reimbursement supposed to come from? I'm thinking you're a kid and this is your first time scam.. you don't even seem to know how trading works.

for someone who does not have this feature they will lose 100% of the loss they made

for someone who does have this feature they will only lose 80% of the loss they made

there isnt a need for extra funds as the platform is just taking slightly less profit only 80% not the full 100% of the loss

not sure how much easier i can spell that out sorry

Hahahaha i've seen some stupid fucking scammers in my day but you might be at the top of the list.. LOL so you are completely clueless about trading then. Thanks for confirming that.

There are 2 sides to every trade. If one guy loses 1 BTC, another (or the sum of a few other players) have gained 1 BTC. For the purpose of this example, let's keep it simple and assume 1 guy lost 1 BTC, and there is 1 guy on the other side of that trade that gained 1 BTC. The guy who gained 1 BTC withdraws his profit which came from the guy who lost 1 BTC. Now you need to reimburse the guy who lost 1 BTC with 0.2 BTC. So how can you say there isn't a need for extra funds?

Now again I ask, where is the 0.2 BTC loss reimbursement coming from? Are you going to change the numbers on your platform from -1 BTC to -0.8 BTC and hope for the best? Cheesy

You're very talented if you can create 0.2 BTC out of thin air, no one else has been able to accompish that Cheesy

Thanks for saving everyone the trouble and admitting that you're a scam and you have no idea what you're doing.