Post
Topic
Board Speculation
Re: This Bitfinex Credit Bubble cannot end well
by
CEG5952
on 15/07/2014, 05:59:11 UTC
On a normal market, when position gets liquidated, stocks gets sold. End of story.
If bitfinex would rollback/freeze trades, isn't that market manipulation? They're interfering with "the free and fair operation of the market"
Since bitfinex promised to compensate lenders in case of losses because of a crash, they should pay them out of their own pocket. Otherwise, they should let the lenders take the risk.
Those waiting at the buy side never did anything wrong, they placed their buy orders, btc get sold, buyers get their btc.
You shouldn't undo what has been sold. Once it's sold, it's sold! If it has to crash to $1, then let it crash.

As someone who has lost significant gains as a result of Bitfinex's rollback a few months back, I tend to agree. However, it is what it is. This is their policy, they've done it, and they'll do it again. What I've learned is: bid accordingly. Don't aim too low on Bitfinex, or they'll take your BTC.