Conversation

yeah this definitely -- this is bad PR toward customers that just get told more or less they were dumb and didn't understand the risks

Jesse Powell

@jespow

Feb 23, 2021

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.

BTCVIX

@BTCVIX

Feb 23, 2021

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

BTCVIX

@BTCVIX

Feb 23, 2021

I definitely know I wouldn't still here in a twitter conversation if I thought what happened was fair

Jesse Powell

@jespow

Feb 23, 2021

How do you define "fair"? The system worked as intended. Everyone knew the rules up front. What more can you ask for?

BTCVIX

@BTCVIX

Feb 23, 2021

it is hard sell to rationalize that when you are the only exchange at a 50% dislocation that things operated fairly...

Jesse Powell

@jespow

Feb 23, 2021

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?

BTCVIX

@BTCVIX

Feb 23, 2021

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

Jesse Powell

@jespow

Feb 23, 2021

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?

bigshoots/

@B1gShoots

Feb 23, 2021

Look, I've already admitted to myself my loss and that there's no getting through to you. The alterative is that you pull your head out of your ass and admit that something doesn't add up on Kraken. Or just keep having this fight and losing customers every few months.

Replying to

and

So far everything adds up but I have an open mind. If anyone thinks anything nefarious happened, justifying of a rollback, please make your case. I know some people aren't happy with their trades but that's not enough to unwind everything.

2:41 AM · Feb 23, 2021Twitter Web App

Replying to

90% price drop in 5 mins! so the only thing Kraken is good and will be known for is bottom hunting! poor people who would have to loose the money because as you said this will happen again.

Jesse Powell

@jespow

Feb 23, 2021

Please don't trade on margin if you don't understand how the market works. I'm sorry you had a bad experience. Please submit a support ticket and the team will see if there's anything we can do to help you.

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stack those sats.HODL

@stackthosesats

Feb 23, 2021

It's extremely likely that he's got the very best information compared to anyone else about what happened. I'm thinking you're just having a hard time accepting it.

Replying to

Hi Jesse, hopefully have made a good enough case now. Was an extremely profitable trader on your platform before this event. Just lost 62 ETH and now have a negative balance. Really loved the platform as well, that’s the most frustrating thing.