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1) I am fine to wait for the post mortem here, possibly I am missing something but 2) in 2021 to have something like this happen on top pair like $ETHUSD from a company that has been around for half decade is hard to understand & be critical

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· Feb 22, 2021

Replying to @luyongxu

Hi Kevin, I'm a fan of @coinmetrics 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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What's hard to understand? Any super whale can move any market any time they want.

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I can dig through the archives this happens a bit more on Kraken for some reason Jesse also a 50% discount from the rest of the market on a major pair tells me some one of risk management over there at Kraken is sleeping.

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What would be the risk that is being managed? Traders on Kraken are users. We're not market making.

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I know you are smarter than this Jesse- how about a market order that wipes the books to a point of generating a liquidation cascade ? You can't with a straight face tell me what occurred today on Kraken was orderly market function, more levered up exchanges didn't move that much

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Genuine question, What are they supposed to do if a fat fingered whale hits market sell?

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OKex limits the size of market orders and forces multiple orders and/or limit orders based on the thickness of the book, some of these things have been honed and polished up for years I am more turned off by the lack of concern from Jesse, I guess to him it isn't an issue ?

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We do the same but if you jump through the hoops and want to dump anyway, we don't stop you. Should we?

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let me start at the root aspect with some honest questions: Do you think this event improves your image to current and prospective customers ? Do you think overall customers feel this was event is fair ? Do you even consider this an "event" worth handling ?

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Replying to

and

1. No, 2. Yes (someone took the other side of every trade) but I'm sure people who sold at a price lower than the current best bid would prefer a do-over, 3. what would "handling" it be? Everything appears to have operated as expected. The event was entirely predictable.

12:49 AM · Feb 23, 2021Twitter Web App

Replying to

and

maybe I am crazy but I guess when a market dislocation happens on the magnitude of 50% difference in price on a very major pair to the rest of the market that it at the very least leaves a bad taste for many customers -- this wasn't some random shitcoin pair

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Most people don't use stop market orders, and most people don't trade with margin, and those who trade with margin aren't usually collateralizing their long position with the same asset they're long, setting themselves up for a double whammy when the price dips.

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Replying to

and

It only happened to an extreme divergence across one exchange..

.. correct me if I'm wrong you're acting as if that should be anticipated specifically with respect to Kraken's trading platform?

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apparently Jesse knew where to set his bids.... twitter.com/PsychoOnWallst

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Grandiloquent Dilettante

Replying to

and

Well “handling it” would be making sure your janky servers don’t crash every time the market goes even a little bit crazy. You could start there so people don’t lose the ability to cancel orders or close their positions. Just a thought. Also, learn what libel actually is.

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Druckenmiller's Intern

Replying to

and

Jesse Soggy-Waffle-Bitch Powell

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Replying to

and

@maxime__prigent

@captaincrypto21

@NCheron_bourse

@swisscryptocat

CEO

's answer about what happen on his scam platform today 🙈 some people aren't affraid of anything

Uncensored Web 1.1

Replying to

and

this is at least the fifth time this type of event has happened in an isolated fashion on kraken in three years. People want parity with other exchanges in the ecosystem/index referencing, and risk bands. they don't want unique illiquid price discovery on major pairs.

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Uncensored Web 1.1

yes price discovery and exchange mechanisms are working as intended, and yes people got really cheap deals on that, but that type of divergence with the overall market is just wildly drastically unpopular among the community,.

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@_TheDivergence_

Replying to

and

Sometimes it pays to have capital tied up in an unlikely-to-be-filled bid... this was one of those times for me.

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Would be great to hear your take. Should we roll back your trades out of fairness?

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