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.
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How do you define "fair"? The system worked as intended. Everyone knew the rules up front. What more can you ask for?
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50% dislocations can happen in fair markets. People might not like the outcome but it's happened before and it will happen again. What would be the solution other than a monopoly exchange?
use a different exchange seems the most easy solution and probably what most will do... I just think your response is the issue and your framing of all this, you basically rolled this into a growing PR issue now
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I think the takeaway is that Kraken performed to expectations in a massive market move and you can count on your trades being final. What's the preferred alternative? That the platform malfunctions and we roll everything back when some people are unhappy with their trades?
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