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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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.
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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.
I am too expensive for you to hire me for such solutions and clean up this PR mess
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Sound like just the guy they need!
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I don't know the solution, I just know that I was financial shook by this. To the point I actually threw up.
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There isn't enough USD funding which IMO started the cascade problems. Bids that should have supported the market weren't able to borrow and thus, vanished.
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1) Raise the funding rates to decrease demand, or acquire more funding. Regulations may make this difficult, I'm aware.
2) Continuing to work on maintaining API\website functionality so that downtime doesn't exacerbate things.
3) Liquidation engine could use some love too.
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Also, even covering part of the loss would help a long way.
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I was wiped out, completely. I am still in a state of shock. I was NOT over leveraged at all. I was using it responsibly. Any way you paint it, you are saying that your exchange is untrustworthy, and no one in their right mind should use it.
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Any amount of leverage is risky. This was effectively a grey swan event, a bad beat. You bet on black and came up 00. Depends on how you define trustworthiness. Everything operated as expected, orders matched accurately, liquidations happened predictably. Please submit a ticket.
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Jesse, retail trader here lost my account earlier. Still in shock and won't be able to muster the funds to start trading again for a while. Shock, sadness, anger, now emptiness. But I get youre in a tough position too. Thx for keeping open mind.
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