/biz/ - Business & Finance

QUADS CONFIRM

>>4662222
What's scammy about this?
Negative balances in a market crash are not that weird, they happen when orderbooks are thin.

I am pretty sure bitfinex has a big net profit after today's movements, few accounts in the negative notwithstanding.

rofl margin trading

what happens if you don't pay?

>>4662222
>margin trader doens't understand liqudity
Of all the scammy shit bitfinex pulls this one isn't their fault.

>>4662551
What the fuck do you think mongo

>>4662551
Hope they get his house.

This is what he deserve for margin trading.

>no matter how many satoshis you lose gambling alts, you will never ever be as retarded as normies
feels good man

>>4662222
makes a shitty risky trade then expects a refund. this isnt some game retard. shit goes both ways

>>4662551
Oh, he'll pay

How do I get in on margin trading?

>>4662833
This. He will pay, don't worry

Wait five minutes the balance will go back to zero once they sell all his bitcoin

im in bitfinex and i made a ton of money, its because i wasnt margin trading like this retard.

>>4662222
It wasn't margin trading that fucked him. It was bitfinex cashing out all of their altcoins to USD. Mt.Gox is on the way very soon.

>>4662222

>>4662222
Top kek, probably went 3x long as 11k, hah.

>>4662222
I just don't understand why people would trade margincin crypto. Especially with with $100k usd.. It's just retarded. I mean I could see why it's useful if you're broke but when you have $100k+ you can afford to be patient and make smart alt coin investments with a few bitcoin at a time.

>>4663121
Retard confirmed. Even black people have a higher IQ than you.

>>4662833
>>466293
How is that going to be enforced if he is living in a unrelated country?

https://www.youtube.com/watch?v=r3T4EutKWyc

>>4662222
can this only happen if you trade on margin? Say I put some BTC into a bitfinex account from a coinbase account, they couldn't come after me if btc dipped out below the price I deposited it at.


...Right?

>>4663438

You can never lose more than your initial investment if you don't trade margin. It's common sense.

If you trade on margin, then technically you shouldn't be able to go into negatives either, because the exchange should automatically sell your position if you get wiped out. I'm pretty sure that this is the law. If this isn't don,e then you can lose anywhere up to whatever your leveraged amount was (e.g. if you leveraged 10x, you will lose your investment and then be in the red for 9x what you put in)

If you short, then you can lose up to an infinite amount of money even if you're not on leverage.

>>4663626
Good exchanges will deleverage you in a smart way, so even if you're in 100x and get liquidated, you still shouldn't end up too far in the negatives, but in practice it happens pretty often given the insane volatility of Bitcoin.

>>4662222
HAHAHAHAHA CANT CASH OUT OF COINBASE I
CANT
CASH
OUT

>>4663164
Love this guy.

>>4662222
Most of the seriously worrying salt I've seen has been from BFX users and particularly margin traders desu. @Philakone crypto for one - up to 6 figs lost/frozen.

all my keks right here this one

>>4662222
I fucking hate anyone who uses margin. Get REKT you fucks.

>>4662643
>>4662695
>>4662833
>>4662937

Unless he's in Taiwan or a UK territory he ain't paying shit. They don't have fuck all for legal recourse.

>>4664143
lmfao god I hope this guy loses even more money
what a little bitch

>>4664197
Yeah but all btc he has will be locked up and liquidated and it has to be a decent amount to be able to use that much margin REKT

>>4662222
Quads confirm

>>4662222

>invested in crypto a few months ago
>doubled my money
>literally have no idea what op's pic means

brainlet gains

>>4664278
He basically borrowed money from the exchange to buy extra coin, and it dipped below the borrowed amount so now the coins he does have were temporarily worth less than what they lent him (30k less) so they liquidated his coins back to USD and said "You owe us 30k" when it happened.
It's called trading on margin

>>4663121
LOL this anon is right. Whales pushed btc over 11k to liquidate all the normies that shorted btc at 10k with leverage. And then they got Bitfinexed. Glorious.
Bitfinex cannot lose because they know exactly how much they need to dump to liquidate all the ones that margin trade

People get to greedy sad. He sjould have just held his btc in private wallet

>>4662222
Lol. This is what you get for margin trading in an everything goes market.

>>4662222
i'm sure they'll print some more tethers to help this guy out.

>>4663233
its because they're addicted to the profit

kek, some guy on twitter lost 100k margin trading on bitfinex too

Anyone who knows how to margin trade knows shit like this can happen, in crypto even more so than in forex or stocks.

No mercy, dude got rekt by his own greed.

>>4662222
Hilarious

>>4664677
This lol i learned my lesson when i shorted btc when it dipped to 3k and bounced faster than i could blink

>>4664248
he is in the negative dude. He lost all his BTC and on top of that he owes bitfinex 33 grand. He's gonna pay that shit somehow

>>4665231
Wait, this isn't a software glitch?

How can you owe them money on a margin? Isn't it supposed to liquidate you?

MORE PROOF: https://twitter.com/Bitfinexed/status/936010038233255937

>>4665684
Good point. That is the whole point of liquidation, in fact.

>>4665721
movement was so fast positions couldn't close in time

>>4662222
Everyone everyone get out of tether! because all the markets are going to dive to fuck ! = )

>>4665684
If the crash happens so fast and there aren't enough buyers to close his margin position it is technically possible that Bitfinex sold his stake at a lower price resulting in a negative balance. Feel bad for him desu

lul

Seriously though, what happens if he doesn't pay?

Is this the source of those Tethers?

>>4665997
>Feel bad for him desu
Why would you feel bad for a millenial? He's even using his real name on the net.

>>4666975
nothing happens. He can start a new account under new name.

Is he asking for a refund on his poor margin trade?