Re: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency
Imagine that you were an expert Wall Street trader. One of the very best. One of the guys that makes millions a year in bonuses.
Imagine you found a market where there are toons of "noobs" thinking they are pro traders. The market is thinly traded and illiquid. Wild swings are common, and there are no regulations at all. No SEC oversight, nothing.
Now imagine that as a Wall Street professional trader you have access to amazing software tools. Imagine that you have programs that watch all the margin-enabled markets on Poloniex. Imagine that these programs also watch the lending markets. Now imagine that the software correlates all of the trades on Polo with all of the lending that occurs on Polo.
Imagine that you therefore "knew" where all of the large margin positions were and because you knew at what price those orders were placed at, you knew their liquidation points. Look at the hockey-stick rise to .124. Most of the really huge green candles were most likely shorts being liquidated, including the rise from .11 to .124 itself. Look at yesterday's trading; that drop to .035 sure looks like a margin long liquidation to me.
Please trade carefully folks. I have a feeling that you're up against some of the best traders in the world. I think some Wall Street or City folks are finally starting to learn of the crypto markets.
Imagine you found a market where there are toons of "noobs" thinking they are pro traders. The market is thinly traded and illiquid. Wild swings are common, and there are no regulations at all. No SEC oversight, nothing.
Now imagine that as a Wall Street professional trader you have access to amazing software tools. Imagine that you have programs that watch all the margin-enabled markets on Poloniex. Imagine that these programs also watch the lending markets. Now imagine that the software correlates all of the trades on Polo with all of the lending that occurs on Polo.
Imagine that you therefore "knew" where all of the large margin positions were and because you knew at what price those orders were placed at, you knew their liquidation points. Look at the hockey-stick rise to .124. Most of the really huge green candles were most likely shorts being liquidated, including the rise from .11 to .124 itself. Look at yesterday's trading; that drop to .035 sure looks like a margin long liquidation to me.
Please trade carefully folks. I have a feeling that you're up against some of the best traders in the world. I think some Wall Street or City folks are finally starting to learn of the crypto markets.
Also imagine if you somehow had access to polo's books, including all traders positions..? That would be pretty handy too... At what point does it seem like too much of a coincidence that these wild swings and ddos attacks seem to happen in conjunction with massive forced liquidations? I'm not suggesting for one minute that there's a potential insider involved here.. However...
I'd be very wary (and always have been) of trading in crypto. You don't know who's on the other side of the trade, or how much information they have about your position... Food for thought!
Walter
That got me thinking...what if somebody hacked into an exchange but instead of targeting on-exchange funds (wallets, etc.) the hacker simply gained access to everybody's position information? They could make a fortune...
Think about it--I imagine that most exchanges focus their resources on securing their wallets and withdrawal processes. Even if those are rock-solid, hackers could make a fortune by getting into other systems.