Re:The world's first Bitcoin-settled index futures
by joosters on Wednesday February 05, 2020 @08:01PM
(#22252552)
Apparently you also have to trust all the other anonymous users of the exchange. From their risk disclosure:
Trading the Futures exposes you to credit risk. This is the risk that one or more of your counterparties have deposited insufficient Collateral into their Account(s) such that you may not receive some or all the Digital Asset they owe you
So this exchange lets you place a trade, but even if you win, the counterparty might not pay you! This, coupled with their ludicrous 100x leverage, is a recipe for disaster.
Re:The world's first Bitcoin-settled index futures
by scottlocklin on Wednesday February 05, 2020 @10:02PM
(#22253100)
So, Mike from Mushino; you know who I am: this is my real name, and google will inform you I am a real person. I still have no idea who you are.
You don't really need to trust us in the beginning, since you can get started with just 1 USDT.
That's enough to open a position of $10 (using 10x leverage) or $100 (using 100x leverage).
We also have a no-deposit welcome bonus ($12) that you can claim and use to open new positions - completely risk free.
As for the lack of transparency - you are completely right.
We literally just launched 2 days ago and haven't got around to listing our team yet. We are working on that right now and will be publishing an "about us" page within the next week or two. Expect to see changes soon.
Please let me know if you have any other questions. You can also ping me in the chat @mike, or in our Telegram channel and I'll be happy to answer.