Post
Topic
Board Exchanges
Re: And we have another Bitfinex Hookey THIEVING Short Squeeze!
by
MatTheCat
on 25/06/2014, 09:58:45 UTC
The only logical explanation is that prices getting grouped before posting, but then it should be changed, for more transparency. And what are the rules of such grouping?

Someone posted that the data they have shows a whole raft of orders being executed from $600 right through to $608.13. But that doesn't change the fact that my stop loss was just a shade above $600, yet never got triggered until the very top spike of those front-run and repackaged grouped together 319 BTC orders. that took price to $608.13, the exact price where my stop orders were triggered, taking me right away from break even territory and right into the red. It was only a small trade. It would only ever have been a small trade as my trust for Bitfinex evaporated quite some time ago. This is far from being the first time I have seen this sort of shit on this exchange.

Also, now that Bitcoin has predictably started to correct, I can't help thinking how convenient it is that BFX have flushed out a few short-sellers, who BFX have probably loaned out Bitcoin to, that they may not even have. It was obvious that Bitcoin was going to correct a bit from $600, so who are those 'whales' with the front running privileges super fast internet connections who were piling into Bitcoin with the large market orders which bought out the Ask walls and pushed Short Stop Loss Orders up to top of market spikes, right at the top of an obvious 'suckers rally'? It is all fucking bullshit. It was no 'sucker's rally'. That rally was about squeezing out shorts. BFX are hookey as fuck. They know where the shorts have accumulated. They know how many Stop Loss Orders have been set. They have the means and the knowhow to farm those stops. They try to brush these accusations off with "Hurr, Durr, You Cant Prove Nothing, Hurrr, wanna 10 BTC bet, Durrr" "Hey, we have bigger fish to fry than steal sweets from little kiddies". They claim that they already earn millions in exchange fees and shit, so why would they feel the need to misbehave in these ways! Erm, because from doing so, Bitfinex just made over 8* the profit from my trade than an honest exchange would have from exchange fees alone, not to mention the fact that had they not farmed my Short Stop Loss, and a good handful of other trader's Short Stop Losses, we would all still be short as the market finally recedes proper, and perhaps Bitfinex are to some extent offering Naked Short Positions which they can't really afford to see too many of succeed? The exact same games are also played on leveraged longs, naturally. I think Bitfinex are thieving robbing cunts who are in the position of operating their own unregulated exchange with zero oversight, and are taking the liberty to multiply their own earnings by a factor of 10, 20, or perhaps even more.