How bitmax is scamming everyone and why you should get out asap

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How bitmax is scamming everyone and why you should get out asap Anonymous Sat Mar 30 06:31:46 2019 No.13163598 [Reply] [Original]

They borrow usdt for people to long,Creates a insane buypressure - as people suddenly have 10x money.Nobody really understands how their margin works of average users.Then they lock withdrawals - and stop allowing usdt loans.Nobody can long - but some people panic.Just needs 1 guy to dump his long - without usdt borrowing nobody can relong. So it dumps.
Dump accelerates with more liquidations,Can’t counter it really - unless with margin but therefore you need borrowed usdt which is not there.So it keeps dumping basically till the last long is liquidated.People have a collateral system - force liquidation = you can’t withdraw balance and must sell tokens to pay liquidation.Everyone has to start dumping tokens - every token falls below market price.

Now the exchange has:
A ton of free money again, a ton of tokens below marketprice
-> double win
It’s Bitmex just way worse as it kills your whole account as collateral. And People simply don’t understand it
+ completly manipulated by exchange itself with stopping usdt borrowing anytime they want.
Basically - when the ceo decides today we liquidate anyone...he can and earns a ton of cash.

The exchange will last a few weeks at best and the ponzi will collapse.Honestly get out while you can.Their rep is toast at this point.

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