Quote from: astmandu on November 19, 2016, 04:10:36 AM

Quote from: CocoLibre on November 19, 2016, 01:12:34 AM

Quote from: Elpadrinho on November 19, 2016, 01:00:06 AM

Quote from: CocoLibre on November 19, 2016, 12:54:34 AM

Its clear with the XMR exit pump in August and recent trading on margin alts that Poloniex is a rigged market operating an internal MM system engineered specifically to margin call over-leveraged traders. This is on $BTC exchanges as well which is nothing new but still disconcerting considering crypto markets are generally operated purely by retail traders and very few if any institutional funds. For the market to mature this will have to transition to an orderly market which will likely occur through regulation much like what the equity markets went through in the 1930s; hard to tell when the government will actual proceed with action though since the space is so new and generally the SEC does not move quickly.

I always said it...Poloniex is as crooked as it comes!

I will likely be contacting the SEC and considering a class action lawsuit against them at some point. This is kind of behavior went down in the 1920s and is the main reason why the SEC was created. This not a free market, its a completely rigged system that has internal MMs oriented specifically to run stops and margin call traders persistently. I've been trading in the equity markets for over a decade including the OTC pinksheets and have never seen anything this blatantly fraudulent in my life.

Really, man? Why invite the SEC into what is meant to be a decentralized ecosystem? If you don't like crypto in its infancy, then go back to the regulated equities markets. I got margin called and it was my own stupidity. Polo warned me of the margin call for weeks and I sat there hoping it would turn around, but then I got liquidated. Thankfully with crypto you can come back quickly, and I did. Polo had nothing to do with that, I placed that trade.

There is a lot of risk here. Period. Once the SEC gets involved you can kiss your hopes of 100x returns goodbye. Can't have it both ways.

Better to have a regulatory entity come in and set standards instead of letting things get out of hand and have negligence lead resulting in disastrous scenarios such as The MtGox blowup, The DAO hack, Bitfinex hack and Polo's shifty MM system.
Far better to get this stuff sorted out earlier than after the fact, the hammer comes down far harder from governments once things have gone into disarray.