[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


View post   

File: 112 KB, 764x1118, Screenshot 2021-02-22 at 02.08.50.png [View same] [iqdb] [saucenao] [google]
29343878 No.29343878 [Reply] [Original]

>> No.29343914
File: 7 KB, 250x241, 1432724756686s.jpg [View same] [iqdb] [saucenao] [google]
29343914

>>29343878
it's all so tiresome

>> No.29343991
File: 906 KB, 2544x4000, 1503396029227.jpg [View same] [iqdb] [saucenao] [google]
29343991

>> No.29344078

I hope anyone who bought about 30k gets torched

>> No.29344123

A millionaire was born

>> No.29344209

bloody monday inc

>> No.29344309

>>29344078
yea just like everybody who bought above 5k in 2017

>> No.29344345

a .06% flash crash

>> No.29344363

>calling that a flash crash
???

>> No.29344718

>>29344345
Unfortunately this causes a 10-20% crash on alts friend. I'm terrified that BTC does ANYTHING.

It pumps, alts get drained to fund the pump. It dumps, it's a sign of weakness on the market, so sell alts.

We literally just can't win because boomer faggots need an index fund

>> No.29344833

>>29344345
It dropped 2.3% in one minute.

>> No.29344929

>>29344833
that's nothing
binance has had several real flash crashes where they actually had to alter the charts because of it.
chainlink to 0.01$ was one of it.

>> No.29344966

>>29343878
i wish i still had my screencap of doge's flash crash to .002

>> No.29344994

Just CZ eating the longs, nothing to see

>> No.29345247

>>29344929
Which of you retarded fucks placed a market order?

>> No.29345287
File: 423 KB, 1224x876, .webm [View same] [iqdb] [saucenao] [google]
29345287

Now this is a flash crash though.

>> No.29345367

>>29343878
You can imagine the screams that a graph like that can cause. But the intervals are small.

>> No.29345516

>>29345287
what is this pattern called?

>> No.29345543

that's not a flash crash
that's called a scamwick newfren

>> No.29345643

>>29345516
AAAAAAAHHHHHHHHH

>> No.29345658

That’s just CZ doing CZ things to scam longs. Nothing to see here

>> No.29345760

>>29345516
>fuckayu gwailostoplossu

>> No.29345976

>>29345516
Scamming longs pattern

>> No.29346402

>>29343878
No problem degens! Give this chink all your money! Binance scam chain numba one we make a fuckton of money, at least one thing is sure: he make a fuckton of money on you.

>> No.29346538

>>29345287
this is as scary as those prank .gifs that have a thing suddenly speed/crawl towards you

>> No.29346581

>>29346538
>not buying eth @ $0.10

>> No.29346630

Binance is shady as shit.

>> No.29346771
File: 31 KB, 512x512, 046825.jpg [View same] [iqdb] [saucenao] [google]
29346771

>>29345287

>> No.29347045

>>29345287
Am I reading this right? 2 dudes got 200k eth between them for an average price of 0.05? woof

>> No.29347165

>>29344123
multimillionaire

>> No.29347343

>>29347045
No, you're not reading it right. That's the remaining asks in the whole orderbook, unfilled ones. Every single order up until those ones were filled though, which was over 120k ETH. Most of it was most likely sold to the whale who triggered the cascading liquidations and knew he could exploit the naive trading engine they had. If I recall correctly, Coinbase reimbursed a ton of people who lost money on that. Since it was technically fair game, I think whoever executed the massive market sell got away with it.

>> No.29347344

>>29347045
125k changed hands between the price of $317 and approximately zero.
You would need the one second chart to see how many got how much at the lower prices.

>> No.29347405

>>29344363
>>29344345
Binance is mostly traded by high frequency bots. The markets on the CEX are manipulated hard just like the flash crash of 2010. iykyk

>> No.29347464

>>29344718
or maybe you're just retarded?

>> No.29347473
File: 431 KB, 1200x1200, 132454327785666.jpg [View same] [iqdb] [saucenao] [google]
29347473

>>29343878
NEWFAGS THINK THIS IS A FLASH CRASH
AHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHA

>> No.29347522

>>29347343
and that's why they don't have margin trading anymore

>> No.29347609

>>29344929
No, it was less than a cent. It was like $0.0001

>> No.29347613

Will i ever be able to take advantage of this on coinbase? Ill set limit orders for .01 on all my favorites right fuckin now.

>> No.29347656

>>29345287
>>29345287
Some garbage bot was selling 250 ETH at $74.00. Don't underestimate how inept bot programmers and rich people are. This whole event was caused by a market order.

>> No.29347839

>>29347343
>>29347344
I see, I'm guessing stop losses were automatically executed and thats why it crashed all the way down? That's really fucking big brain by the whale, circuit breakers make sense now too. What stops CZ doing this on the reg on binance when he has access to everyones order data? He could do it over and over on a smaller scale as often as he wants, kind of fucked up

>> No.29348006

>>29347522
really? fucking kek

>> No.29348027

>>29347839
These flash crashes make the losers homicidal. Thats a good reason to not do it.

>> No.29348094

>>29347656
why wouldnt the bot just sell to the highest bidder?

>> No.29348146

>>29347839
that's exactly what bitmex and binance do; they go stop loss hunting on those with high margin and trade against their own users.

>> No.29348152

>>29347839
Money is power. You're not just now learning this are you?

>> No.29348213

>>29348094
Because its programmed to outbid everyone else to make money on the spread. Most of the time that would work when the price is stable.

>> No.29348217 [DELETED] 

>>29347
>This whole event was caused by a market order.
it would be interesting to see it happening again, but with btc instead of eth

>> No.29348358

>>29347656
>This whole event was caused by a market order
it would be interesting to see it happening again, but with btc instead of eth

>> No.29348388

>>29348213
Who knows, maybe it bought the bottom and made profit, but it probably was trying to get out of the crash at any price.

>> No.29348428

>>29347839
Stop losses and liquidations. The main cause is the extremely naive trading engine. Binance Futures and BitMEX, for instance, have very advanced liquidation engines that prevent that kind of shit. They basically tell you you're liquidated, but then take strategically place orders to liquidate in a way that doesn't trigger massive cascading liquidations and take big losses. They have insurance funds on top of it all to cover people from owing the exchange money in the case of a liquidation that can't cover completely.

>> No.29348598

I just don’t see how it’s possible to execute this successfully without having and insider look at the stop losses or else u would need millions and millions of dollars

>> No.29348724
File: 68 KB, 750x758, 0FE1A92DB6F144F59C8C58EF0CBE9BCE.jpg [View same] [iqdb] [saucenao] [google]
29348724

>>29347405
>tfw 6 colocated market maker bots on chinknance

>> No.29348851

>>29347839
Baby's first redpill on the finance industry. If youre not doing the fucking, you're getting fucked, basic rule

>> No.29348861

>>29347343

Now you know why bitmex has such a “shitty” engine.

>> No.29348910

>>29348598
Its easy to guess where stop losses are set. Amy seasoned trader can and will

>> No.29349142

So in other words always have a limit buy order open for a coin for a few dollars

>> No.29349301

>>29343878
It's all over MOVE TO STABLECOINS!

>> No.29349457
File: 8 KB, 250x233, 1589311963602s.jpg [View same] [iqdb] [saucenao] [google]
29349457

>>29343878
is this the start of a giga dump?

>> No.29349878
File: 37 KB, 512x512, PSX_20210215_144331.jpg [View same] [iqdb] [saucenao] [google]
29349878

>>29343878
>too many rong positions
>riquidate them
babbys first candles/ching-chong.exe

>> No.29350072

>>29347839
there's nothing stopping them, there's no regulations against it
that's why I tell people to stop using these shitty exchanges and if they do they should not use stop losses otherwise you're going to wake up to a flash crash one day and want to kill yourself

>> No.29350086

Can you technically be fast enough to buy during this interval?

>> No.29350216

>>29345287
this really happened I shit my pants that day.

>> No.29350939

>>29347839
Literally why I don’t use stop losses.