it is hard sell to rationalize that when you are the only exchange at a 50% dislocation that things operated fairly...
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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?
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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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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.
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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.
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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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You've got pretty high hopes my friend. This is a problem they fix for future traders.
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When you roll back trades to benefit one group, you take from another group. It's actually creating more problems because then people don't trust the finality of trade settlement on your exchange.
you do realize there are other ways to solve such things right ? has been my whole point about this false binary postulation
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Sure. The team is working on some ideas while looking in to the data. Would love to hear if you've got any ideas beyond paying every losing trader's perceived losses out of our own pocket.
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This I can agree with. Rolling back trades doesn't make sense. If any system operability issues are recognized it should be Kraken who pays for the losses not other traders.
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I think you overestimate people’s greed and underestimate people’s honor. I believe the majority of those who benefited consider it a “right place right time” thing and would begrudgingly accept rolling back out of fairness for everyone.
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Rolling back isn't even an option I don't think. They would have to roll back time. Those trades turned into profits, withdrawals and subsequent other traders. It's just not possible.
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Bybit had two major wicks on ETH, if any clients stop loss, conditional or limit order was triggered and executed on the off market price, please contact our support and we will examine and reimburse. (Please be patient on our live support as they are quite overloaded now)
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I've used bybit in the past and it worked well for me. I just started using Kraken because of the CAD withdrawals. If we are only going to be told this is normal on Kraken and to eat the loss then it looks like I'm heading back to bybit.
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That’s not a valid point to be argued . Two groups? One group loses everything in a fraction of time? and other group makes everything in a fraction of time? Both are unfair right? At bird eye view, one group has stolen coins of other groups? And you are saying ... it’s expected?