/biz/ - Business & Finance

Anonymous Thu Jun 16 16:55:00 2022 No.49714542 [View]
File: 18 KB, 384x384, 3 - oszgUvE.jpg [View same] [iqdb] [saucenao] [google]

>>49714270
That didn't reassure me at all, in fact it made me terrified. He said they're taking a risk with allowing people to use XCM as collateral on margin because if there's no buy orders they'll need to pay for that liqudiation themselves. In theory this means I can buy a bunch of XCM from other users, go 5x long on bitcoin, get liquidated, and force CM to buy that XCM to cover it?
If everyone did this because they already cant sell any XCM anyways so may as well use it as 60c collateral for margin, so if everyone gets pissed and goes long on BTC because why not and BTC crashes and they get liquidated CoinMetro would get absolutely fucking rugged by all the fake 60c longs being used as collateral for way too much BTC. Am I wrong here?
Doesn't this sound absolutely insane to you?

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