Quote from: CEG5952 on July 15, 2014, 07:42:23 AM

Quote from: FattyMcButterpants on July 15, 2014, 06:21:07 AM

Quote from: shinjikenny123 on July 15, 2014, 06:06:22 AM

Quote from: CEG5952 on July 15, 2014, 05:59:11 AM

Quote from: shinjikenny123 on July 15, 2014, 05:44:45 AM

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.

THen I guess I should move away from them.. I didn't know they have this unfair policy

What about btce? Do they rollback trades too?

no. btce experienced a flash crash to $100~ at the very same time. they did not roll back trades, and many traders reported having their bids filled in the $100s.

Yep, I remember that. Unfortunately didn't have my fiat on BTCE at the time -- stupid me, taking like a $15-20 arb profit instead of keeping money there. Now, I always keep lowball bids on BTCE when I am in fiat.

i was watching as well when the flash crash happened, but the first thought i had was "they found a bug in bitcoin protocol" and was simply too scared to do anything. Price then climbed back halfway, did a little fight there and went back to normal in a matter of minutes..