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10505749 No.10505749 [Reply] [Original]

https://www.reddit.com/r/BitcoinMarkets/comments/93itip/the_415_million_elephant_in_the_room_okex_futures/

>> No.10505835
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10505835

>> No.10505874

>>10505749
>somebody opens a 415 million long on OKex
>at the same time a 400 milion short pops up on Bitmex
>BTC tanks not so long after
Really makes you think.

>> No.10505899
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10505899

w-why is this allowed

>> No.10505919

>>10505899
> how could the government let this happen

>> No.10505941

>>10505899
welcome to margin trading. bitcoin will be manipulated until the day that using leverage fades out, which will be never since we love gambling with other peoples money.

>> No.10505966

>>10505749
Makes me sick

>> No.10505986

>>10505749
Can someone explain the implications of this to a retard?

>> No.10506004

>>10505749
explain this to a turbo brainlet

>> No.10506013

>>10506004
jynx you owe me a HOLO

>> No.10506019
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10506019

>>10505986
since there's no insurance funds, the losses will be socialized which means the shorters (who were right) will realize next to no profits.

tl;dr:

>shorters are white people
>longers are dirty nigger leeches

>> No.10506029

>>10506019
in terms of market effects, what will this cause?

>> No.10506032

>>10506019
Does this have any affect on BTC price?

>> No.10506052

so were going d-down?

>> No.10506057

>>10506032
Not really since shorters will realize no gains and okex wont sell any btc. Okex might close

>>10506032
looked at the market today?

>> No.10506086

what a stupid fucking company

>> No.10506091

>>10506019
So longers lose everything and shorters make something in between nothing and next-to-nothing in profit? Who in retarded shit-fuck-hell gambles with those odds?

>> No.10506100

>biz just circlejerks about trump, chainlink and wojaks
>reddit has actual discussion with informed users posting facts

color me surprised.

>> No.10506102

Renko

$1500 I shilled it yesterday you faggots. I said this shit 1 million times on biz . Only 2 fuck heads, renko and I are speaking up . Don't be fucken stupid you autist son of a bitch . I CALLED IT ALL OVER BIZ YESTERDAY WHEN SLUTDASHIAN POSTED btc ON ig .......I also kept telling you NO FUCKEN WAY WILL INSTITUTIONAL INVESTORS PAY THE SAME PRICE AS NORMIES..........FOR GOODNESS SAKE WHAT PART OF THAT DONT YOU UNDERTAND .........THEY WILL PUSH THIS DOWN UNTIL PEOPLE COMMIT SUICIDE ...... !!!!! Then buy

Until then $1500 soon


October is the month to be ready. A great whale said this on biz few days ago.

"Have your stacks ready by October"

Eth address was confirmed he was a whale. He also denied answering me when I asked about the $1500 target . So there you have it


REMEMBER YOU WILL NOT WIN AGAINST INSTITUTIONAL INVESTORS !

Moron

>> No.10506120

>>10506100

>cherrypicking

>> No.10506143

>>10506091
if everyone loses, who gains?

>> No.10506157
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10506157

>>10506091
chinks that failed to realize that okex's insurance fund is totally depleted.

>> No.10506765

>>10506100
Go back, retardditor.

>> No.10506766

> anons who don't realize this is okex
> 400mil long. Right, make $$$. Wrong? Socialize losses.
& people still think we are getting an etf

>> No.10506840

Welp, there goes the ETF. Bitcoin now going to 0. I'm actually relieved I can focus elsewhere rather than this ponzi. I lost all my money, but hey, it's finally over.

>> No.10506902

i dont think you guys realize how apocalyptic this is. worst case scenario they cant pay this fucking contract back and the whole exchange gets shut down. hundreds of millions of dollars get lost forever. bitcoin is going to 2k, mark my words. and it will be quick.

>> No.10506922

Someone could easily exploit this, if you're reasonably sure it will drop open a 20x 400m long on OKex, use multiple accounts to short 400m on bitmex. Trying to exit the 400m long during a dump is impossible due to slippage but that's okex's problem not yours since it gets liquidated. Meanwhile your 400m bitmex short is at a huge profit and you basically risked nothing.

>> No.10506935
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10506935

>>10506902
that's why I just closed my shorts. THE CHINKS will make their best effort so that $415 mil sell order gets filled at $8020. staying flat for now. theyve got until friday. tick tock tick tock.

>> No.10506983

>>10506091
exchanges make the money
decentralized exchanges are gonna kill crypto
no money will be able to be made and the chinks and nigs will be out

>> No.10507004
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10507004

>>10505749

>> No.10507011

>>10506983
decentralized exchanges like etherdelta still take a profit.

>> No.10507041

>>10506935
i dont get it, wouldnt the smart thing be to open a short on bitmex then? lol

>> No.10507055

I don't get it... so they can't liquidate his entire position so in the meantime it's accruing interest, the fuck?? who's gonna pay that? I don't understand

>> No.10507106

>>10507055
They make all the other traders chip in and pay.

The more bitcoin goes down, the more there is to pay.

>> No.10507113

>>10506102
That whale didn't tell us shit, I asked him in like 3 posts and he just ignored em all. He was promoting a bullrun clearly in his interest because he holds tons of chainlink. He def didn't say anything about 1.5k just that have stacks ready by october (which could be lies)

>> No.10507135

>>10507106
fucking LMAO

>> No.10507164

Does this hurt CBOE ETF chances?

>> No.10507179

>>10507106
Can't they just pull their BTC out the exchange and say fuck you I aint paying shit?

>> No.10507193

>>10507179
it takes their profits. They get like nothing for being right

>> No.10507300

>>10507164
This is the exact type of stuff the SEC cited for denying the Winkolvi twins. There is absolutely nothing stopping the owners of OKex from opening a $400mil o my then forcing other traders to pay their losses if the trade goes sideways. I would say it confirms the SECs statements.

>> No.10507306

>>10507164
No not at all.

>> No.10507317

>>10507179
Profits aren't distributed until settlement. They cant. It's also their fault for supporting an exchange with socialized losses in the first place.

>> No.10507354

Now this is fud

>> No.10507361

unbelievably stupid of the exchange owners to allow such a position in this market. this is nuts.

>> No.10507446

Who do you borrow from when leverage trading? If they got from the exchange, the exchange should be able to just hand out the btc to shorters, no? Or the exchangs doesnt own the btc an lent what they couldnt?

Im a brainlet sorry

>> No.10507449

>>10507354
Yes it is the normal routine. As soon as we go down people start getting the fear of zero. These people are the ones that always buy the high and then say the market always goes down when they buy in.

>> No.10507458

AHAHAHAHA
HOLY SHIT, THIS IS
UN FUCKING BELIEVABLE
HAHAHAHHAHA

now I'm seriously considering shorting this shit :P

>> No.10507519

We will be back to $8000 by Saturday you dumb asses. This is why you lose money.