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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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.
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I would like to see a change to use a market price based on the entire market instead of kraken only when triggering liquidations. The system worked far from expected as no one was able to place market orders to buy the dip on time like they did on other exchanges.
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Furthermore, who do you think we're the people on the other side of the trades? This seemed coordinated as only prexisting buy orders were really able to profit from this.
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To add to this, the couple people that got to buy today at these prices are the people you will keep around. The thousands of users like myself who were wrongfully liquidated will not be using or promoting Kraken ever again.
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Well, it's not "wrongfully" liquidated. It's liquidated according to the Terms. The movement was entirely predictable and just because the other exchanges didn't follow, it doesn't mean that it was impossible that they could have. Did you honestly not understand how it works?
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Condescending towards your users. Who pay you. Great sounding tone.
Why I believe I was wrongfully liquidated.
1. Not able to close my order as system was unusable.
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Actually, it's the customers who are claiming to be dumb and not understanding of the risks. What else are you going to say though when you blow yourself up and come for a handout? "I knew what I was doing all along but I'm a degen"? Don't think so.
I understand where you are coming from, but I understood the risk and never would have thought a sip like this could have happen on an exchange of this caliber. To add to that I know how your equity protection works.. I think, but somehow I have a negative $1700 balance now.
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I think it is bad taste to make a generalized assumption that your customers have that mentality -- I think the issue is they don't feel like what happened was fair and your platform was unfair. People can actually accept losses when they feel that overall things were fair
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So the Kraken CEO thinks his customers are dumb for not understanding the risk of ADA dropping nearly 90% in minutes while they had tech issues, and other exchanges didn’t have the same problem. you were right about him.
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my trade was measured enough to not be liq’d where every other exchange dipped to. that’s the problem. we aren’t degens at 3:1 - the platform failure is what allowed the event. owning none of the obvious is really problematic for anyone searching this fiasco. do the right thing?
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