(LVG) LVGCoin - Developing an altcoin margin trading platform

[lvgtrading]

LVG Coin: http://imgur.com/gallery/D7HTogN/new

Specifications:

name: leverage
ticker: LVG
25,000 premine of coins,
1000 POW blocks with 1 LVG reward (to help chain move at the start)
blocktime 2 minutes
1% annual POS
50 blocks maturity

Introduction


The LVG team are a group of crypto enthusiasts and
market traders who have ventured into the cryptocurrency
world. Part of the reason why cryptocurrency hasn’t
reached the volume of other major financial markets
is partly due to the fact its often hard for the average
crypto trader to make daily profit unless they have
superior money or insider knowledge. Surprisingly,
even though cryptocurrency is clearly the future of
currency (or perhaps some variation of it) a lot of
traders are beginning to migrate to other financial
markets like Forex or Stocks. The LVG team have
identified that the reason for this is leverage trading
and so the reason to launch LVG coin is to help kick
off our Leverage trading platform for altcoins at LVGtrading.com


Launch

Hi Bitcointalk,
a while back i made a post offering myself as an escrow for fundraising events on the forum and this is my first customer
The conditions to my escrow for leverage coin are basically what is already said in the announcement page:
The Crowdfunding will last 7 days ending saturday 14th november at 2pm (GMT+1)
There are 25,000 coins available to be divided by the total amount raised
I will release the funds to the developer 48 hours after a working wallet and source is produced and the LVG coins have been distributed correctly
If there are problems with the wallet i will give the developer 72 hours to fix it or i will return funds to investors, i will need proof (preferably a signed message) that the funds you have sent are yours
Best of luck to everyone and LVG for the crowdfunding period, if there are any questions feel free to send me a privatemessage

LVG coin will run a 7 day crowdfunding campaign
here on bitcointalk with the help of an escrow.
There will be 25,000 coins and they will be split
among the total btc raised at the end. Coins will
be distributed as soon as possible after fundraising
period ends. Funds raised won’t be released to
us until a working wallet and source has been published.

The crowdfunding is an opportunity for those who
wish to support the project, if there are no
crowdfunders we will distribute the coins amongst
anyone who pm's for a share


The LVG trading platform


LVG aims to bring about leverage trading to wider
range of altcoins almost like the “yobit” of leverage
trading. Coins will grouped into 3 categories to
determine the leverage ratios:

New – Coins that have been launched within the
last month or have had less than 100btc all time
trading volume (will be promoted with whichever
comes first) Maximum leverage ratio is 1:2

Stable coins – coins that have been active for more
than a month but less than a year or had less than
1000btc all time trading volume. Maximum leverage
is 1:5

Veteran coins – coins that have been active longer
than a year AND have had more than 10,000btc
worth of all time volume. Maximum leverage is 1:10.

We are hoping this sort of ranking system helps
point people to safer coins and encourages others
to make long term coins. Also leverage trading might
have an interesting effect on new more volatile coins
which generally tend to go down in value from the off
and people may try and play against the rest of the
market to profit more.

Funds raised will be used to create the initial bank for
allowing people to leverage trade on our platform.
There will also be the option for people to take part
as loaners to other users on the platform. Hopefully
time our bank of funds will increase too and we can
update our leverage ratios accordingly

Holding LVG in your account on the platform brings
added benefit to using the platform:

holding 1500 LVG or more – allows you to trade 1:3,
1:7.5, 1:15 (50% more) on the 3 market categories.

Holding 3000 LVG or more – Returns 20% back to
your account if you make a loss on a bad trade

Holding 5000 LVG or more – entitles you to claim
5% of the value of the LVG funds at the end of each year


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

Source:  Github

Website: http://www.lvgtrading.com (Platform Launch countdown page)

Twitter: https://twitter.com/LVGCoin

[buchaski]

i think we are beginning to see first batch of new alts after the btc rise, at least this one doesnt seem like a complete pile of shit

[DrkLvr_]

If this was legit it wouldn't need a brand new account  

Just another IPO scam

[buchaski]

If this was legit it wouldn't need a brand new account  

Just another IPO scam

I would agree with that too but i guess it doesnt really matter after all you are a newbie too, you never know who is behind something

[Klaasje]

Hi Bitcointalk,
a while back i made a post offering myself as an escrow for fundraising events on the forum and this is my first customer
The conditions to my escrow for leverage coin are basically what is already said in the announcement page:
The Crowdfunding will last 7 days ending saturday 14th november at 2pm (GMT+1)
There are 25,000 coins available to be divided by the total amount raised
I will release the funds to the developer 48 hours after a working wallet and source is produced and the LVG coins have been distributed correctly
If there are problems with the wallet i will give the developer 72 hours to fix it or i will return funds to investors, i will need proof (preferably a signed message) that the funds you have sent are yours
The address to send the BTC funds to is: 1G1qgZUYgJhBopJa5SUFfs9c2Z6wZSU2Uw
Best of luck to everyone and LVG for the crowdfunding period, if there are any questions feel free to send me a privatemessage

[DrkLvr_]

If this was legit it wouldn't need a brand new account  

Just another IPO scam

I would agree with that too but i guess it doesnt really matter after all you are a newbie too, you never know who is behind something

It matters a lot if you are want to having an IPO just my opinion

Even if this is on Escrow to make people feel safe, the condition to release Escrow is insufficient. That the wallet works and coins distributed... coin creation service costs 0.1 BTC and a few hours to distribute the coin. There is no condition to deliver the promised alt trading platform...

Obvious scam

[zoneout]

Can't access website and image link is broken, good luck

[Zywiec]

Keep an eye.

Publish more info!!!

[lvgtrading]

Can't access website and image link is broken, good luck

fixed apologies

Keep an eye.

Publish more info!!!

forgot to add specifications now posted in the ann

[placebo]

Next....

[ASICrefugee]

25000 coin premine v 1000 coin POW phase.
Not great for miners then..................

[notsofast]

Thanks, dev, for agreeing via PM to answer a few questions. Hopefully we will form a FAQ from this.

1. Coin quantity

The hold-to-unlock feature has been successful in building and keeping value for several altcoins so far. But it seems like your total eventual supply of 26,000 is hardly going to achieve widespread distribution amongst lots of staking wallets if you have a few "patrons". Like, you can only have 5 maximum claimants on the funds... or 16 max people with the right to extra leverage...

You need some distributed network security for your coin but this goal is kind of at odds with the high tiers you've set for your hold-to-unlock bonuses. How are you going to address this? What kind of breakdown are you looking to have amongst holders by setting those tiers the way you did? Like, one 5k holder, two or three 3k holders, 4 or 5 1500 holders, and then the other ~40% of the total LVG held by as wide as possible a distribution?

2. Roadmap

Can you please give us an overview of what work you've done on your leverage platform so far, and what's yet to come? (Basically a roadmap)

3. Dev team

Can you please speak to the skillset of the members of the dev team so we have an idea of your capabilities to make this happen?

4. 3k LVG for 20% reimbursement on "bad trades"

I suggest you remove this feature. Anyone with multiple anonymous accounts each holding 3k LVG can game this system by having each account take the opposite side of a "losing" wash trade on any given altcoin you support, and collect that 20% reimbursement as a bonus. I think the burden of analysis placed on you, to make sure people aren't gaming the system in this way, isn't going to be worth it. Let alone the larger-scale idea of 100% personal responsibility for one's trades. Thoughts?

[DrkLvr_]

4. 3k LVG for 20% reimbursement on "bad trades"

More proof that this is an outright scam, announce features just to try and make people invest 

Where is the money supposed to come from? Dev pocket? Yea right...

[lvgtrading]

Thanks, dev, for agreeing via PM to answer a few questions. Hopefully we will form a FAQ from this.

1. Coin quantity

The hold-to-unlock feature has been successful in building and keeping value for several altcoins so far. But it seems like your total eventual supply of 26,000 is hardly going to achieve widespread distribution amongst lots of staking wallets if you have a few "patrons". Like, you can only have 5 maximum claimants on the funds... or 16 max people with the right to extra leverage...

You need some distributed network security for your coin but this goal is kind of at odds with the high tiers you've set for your hold-to-unlock bonuses. How are you going to address this? What kind of breakdown are you looking to have amongst holders by setting those tiers the way you did? Like, one 5k holder, two or three 3k holders, 4 or 5 1500 holders, and then the other ~40% of the total LVG held by as wide as possible a distribution?

2. Roadmap

Can you please give us an overview of what work you've done on your leverage platform so far, and what's yet to come? (Basically a roadmap)

3. Dev team

Can you please speak to the skillset of the members of the dev team so we have an idea of your capabilities to make this happen?

4. 3k LVG for 20% reimbursement on "bad trades"

I suggest you remove this feature. Anyone with multiple anonymous accounts each holding 3k LVG can game this system by having each account take the opposite side of a "losing" wash trade on any given altcoin you support, and collect that 20% reimbursement as a bonus. I think the burden of analysis placed on you, to make sure people aren't gaming the system in this way, isn't going to be worth it. Let alone the larger-scale idea of 100% personal responsibility for one's trades. Thoughts?

these are some good questions so ill get right to answering them,

our main goal is the lvg platform and the coin although important, isnt the main goal. It gives us the chance to involve the community and raise some more funds for the pool of funds used to alllow people to trade on the platform. It also gives us something to work with once the platform is in good shape.

the hope is that each coin will be fairly high value and will work in decimals similar to btc. the features  for holding are something we couldnt offer everyone which is why its been made pretty exclusive. If the platform grows we can could perhaps make some sort of fork to make more coins to allow more people the option if they wish.

The platform is about 75% complete, we have the all the basic functions covered, we need to still select initial coins to be listed and sync up the wallets for them, improve the GUI and also do security testing

The development team has 4 people in it, I'm more the visionary and project leader. I had the idea when i was approached by someone on the forum who works at a stockbroker in the us. He had heard about bitcoin and had begun looking at altcoins and was looking for some guidance. I showed him the ropes and we began trading together. He made a comment about the fact that most coins rarely move and its hard to profit on them often and thats when i came up with the idea for the lvg platofrm. The other two members are a web developer and coin developer that i knew prior and agreed to help out in developing the platform. the project is primarily funded by myself and my trading partner.

thats a good point about the "20% off bad trades" again the coin supply is limited so it might be hard for people to obtain enough to carry it out and we were hoping to implement some sort of mobile verification with this to prevent anyone trying to scam. However if people are unhappy about that feature we can remove it, hope this has given you a bit mre of an insight to lvg

[zoneout]

Both image and website are working now :-)

[notsofast]

Thanks, dev, for agreeing via PM to answer a few questions. Hopefully we will form a FAQ from this.

1. Coin quantity

The hold-to-unlock feature has been successful in building and keeping value for several altcoins so far. But it seems like your total eventual supply of 26,000 is hardly going to achieve widespread distribution amongst lots of staking wallets if you have a few "patrons". Like, you can only have 5 maximum claimants on the funds... or 16 max people with the right to extra leverage...

You need some distributed network security for your coin but this goal is kind of at odds with the high tiers you've set for your hold-to-unlock bonuses. How are you going to address this? What kind of breakdown are you looking to have amongst holders by setting those tiers the way you did? Like, one 5k holder, two or three 3k holders, 4 or 5 1500 holders, and then the other ~40% of the total LVG held by as wide as possible a distribution?

2. Roadmap

Can you please give us an overview of what work you've done on your leverage platform so far, and what's yet to come? (Basically a roadmap)

3. Dev team

Can you please speak to the skillset of the members of the dev team so we have an idea of your capabilities to make this happen?

4. 3k LVG for 20% reimbursement on "bad trades"

I suggest you remove this feature. Anyone with multiple anonymous accounts each holding 3k LVG can game this system by having each account take the opposite side of a "losing" wash trade on any given altcoin you support, and collect that 20% reimbursement as a bonus. I think the burden of analysis placed on you, to make sure people aren't gaming the system in this way, isn't going to be worth it. Let alone the larger-scale idea of 100% personal responsibility for one's trades. Thoughts?

these are some good questions so ill get right to answering them,

our main goal is the lvg platform and the coin although important, isnt the main goal. It gives us the chance to involve the community and raise some more funds for the pool of funds used to alllow people to trade on the platform. It also gives us something to work with once the platform is in good shape.

the hope is that each coin will be fairly high value and will work in decimals similar to btc. the features  for holding are something we couldnt offer everyone which is why its been made pretty exclusive. If the platform grows we can could perhaps make some sort of fork to make more coins to allow more people the option if they wish.

The platform is about 75% complete, we have the all the basic functions covered, we need to still select initial coins to be listed and sync up the wallets for them, improve the GUI and also do security testing

The development team has 4 people in it, I'm more the visionary and project leader. I had the idea when i was approached by someone on the forum who works at a stockbroker in the us. He had heard about bitcoin and had begun looking at altcoins and was looking for some guidance. I showed him the ropes and we began trading together. He made a comment about the fact that most coins rarely move and its hard to profit on them often and thats when i came up with the idea for the lvg platofrm. The other two members are a web developer and coin developer that i knew prior and agreed to help out in developing the platform. the project is primarily funded by myself and my trading partner.

thats a good point about the "20% off bad trades" again the coin supply is limited so it might be hard for people to obtain enough to carry it out and we were hoping to implement some sort of mobile verification with this to prevent anyone trying to scam. However if people are unhappy about that feature we can remove it, hope this has given you a bit mre of an insight to lvg

Thanks, it has given me more of an insight. Looking forward to more information.

[Lovethecoins]

Will keep an eye on this one

[TheInfidel]

The fact that Placebo doesn't like this might very well warrant a closer look.

[alicex]

theres so many questions should be clarifyed

[bit1]

LVG coin will run a 7 day crowdfunding campaign  -->  Crowdfunding= free BTC to devs.  Nope.