Today's market crash is brought to you by Kraken's malfunctioning trade matching engine.
Conversation
Hi Kevin, I'm a fan of but don't you think it's irresponsible to make misleading, disparaging and libelous statements on the basis of your own speculation, without any direct information? I'm sure you can think of a plausible alternative. Hope you issue a correction.
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Then you should *immediately* account for *exactly* what happened with today, what you plan to do about it, and how you'll make it right with your customers. You guys have had *zero* communication with your clients about this today - leave it to the internet to guess.
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What do you mean what happened? Selling drives the price down. Buying drives the price up.
Specifically, why was your API latency more than 2k during the event so that your clients could react, and why did you go down for maintenance?
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And how can you possibly expect your clients, during all of that and all of the anomaly charts, to trust you when you say “our software works! Trust us, we got it right?” Oh, our API is down! Oops! Something clearly was not right with *just* your exchange.
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Jesse just release the Kraken =)
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This is not only about sell/buy but usual kraken connectivity issues and unability for customers to connect to their account when markets are plunging...same as 2017 and before, nothing changed
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If you honestly believe that coins trading at 1/4 the value of every other exchange is normal behavior, then why would anyone possibly use your exchange?
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Because they can buy coins at 1/4 the value of every other exchange?
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hahahahha. Jesse, that was a lame statement. by all means. show me a trade (any asset) over the past 200y where there was a seller, but not a buyer of equal size.
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It happens all the time. Orders get broken up across multiple counter parties. If you want to sell 1000 ETH in one shot, there'll probably be 50+ traders on the other side taking a piece of it. If you market sell it, they might all get different prices too.
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Margin liquidation cascades while your Kraken users couldn't execute *any* order isn't 'Buying & Selling' Jesse.
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