Are you ready to exchanges switch-off during massive dump?

FrueGreads

legendary

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Quote from: dektox on December 18, 2017, 07:53:20 PM

As a lot of trading newcomers last days joining this community, I'd like to speak to you in a SEC manner: be careful, it still high risk investment. My question is: are you ready to global exchanges switch-off during the massive, universe dump?

Why are you trying to cause FUD? Do you have any support for your claims? Why are you even mentioning that a massive "universal" dump would ever occur?

Your statement only shows how little you know about cryptocurrencies, and like many other uninformed investors you seem to be only driven by FOMO or FUD, and that is not a good policy for crypto, or any kind of investment actually. Have you watched the SEC and CFTC Hearing? They were quite positive when they talked about bitcoin and crypto in general, and that is the type of positiveness that we want. They don't want to kill innovation, and at the same time they want to protect investors from possible scams. ICOs are the problem, since the majority of them are scams, and regulation must hit hard on them. Bitcoin on the other hand, has some solid foundations and a lot of potencial, so why would a massive dump ever occurred?

eternalgloom

legendary

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Quote from: dektox on February 07, 2018, 05:23:53 AM

As the main exchanges were online during the last dump (19.6k to 6.2k per bitcoin), it makes me think that they wanted people to sell. It makes me bullish as for the future prices.

But the question is still in place. If the price drop will be caused by relatively unpredicted and unfavorable by exchanges reasons (Tether fall for example), I still think that they will be closed for a while (some of them for purpose, some of them due to overload)

What do you think, what they will do during the Tether fall?

While it is true that some exchanges have been known to shutdown during sudden price drops, I don't think it's a general thing

source: http://www.independent.co.uk/news/bitcoin-value-latest-trading-suspended-exchange-crash-cryptocurrency-investment-a8126116.html

I would think that most exchanges are better prepared for it now, most of them have been upgrading their server infrastructure after the massive influx of new users before New Year.
You can't be completely certain that some of them are doing it on purpose or not, but I guess it's a possibility.

dektox

jr. member

Activity: 114

Merit: 7

As the main exchanges were online during the last dump (19.6k to 6.2k per bitcoin), it makes me think that they wanted people to sell. It makes me bullish as for the future prices.

But the question is still in place. If the price drop will be caused by relatively unpredicted and unfavorable by exchanges reasons (Tether fall for example), I still think that they will be closed for a while (some of them for purpose, some of them due to overload)

What do you think, what they will do during the Tether fall?

RayDali0

newbie

Activity: 57

Merit: 0

Yes ready

I am starting to get out.
ETH was really nice Grin

exstasie

legendary

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Quote from: dektox on December 18, 2017, 07:53:20 PM

As a lot of trading newcomers last days joining this community, I'd like to speak to you in a SEC manner: be careful, it still high risk investment. My question is: are you ready to global exchanges switch-off during the massive, universe dump?

Of course. Massive DDOS attacks targeting exchanges usually coincides with major downside volatility. Even without targeted attacks, the volatility of a blow-off top will probably cause trading engine malfunctions and exchange outages.

This causes inexperienced traders to mash the "market sell" button while orders aren't executing. When the orders finally execute, they've often sold the bottom.

Quote from: dektox on December 20, 2017, 03:54:31 PM

I mean offline for a while, and then switch on again. Some of them would make it on purpose, some just wouldn't manage to deal with huge traffic.

We'll see more of this as the markets evolve. Regulated markets always have "circuit breakers" to mitigate volatility. For example, the CME and CBOE contracts have price controls that shut down trading once triggered.

It seems like Coinbase already has informal price controls.

qiman

hero member

Activity: 1036

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There is an influx of more heavy capitalization coming into the crypto space, that is an undeniable fact. I do believe there will be larger whales manipulating the markets due to their large wallets and there will be influence coming from various sources, like for instance today when Bitcoin and many alts were dumped because those backing Bitcoin Cash are trying hard to overthrow Bitcoin. Am I ready fr mass dumping? Well that really depends on what is being dumped. The crypto markets are highly speculative and not for those without a thick skin.

dektox

jr. member

Activity: 114

Merit: 7

Quote from: KylesmomisaB on December 18, 2017, 10:51:28 PM

I am prepared for every outcome but that one would be weird if all exchanges simultaneously went offline. I am expecting the SEC to ruffle some feathers but not all the feathers at once...

I mean offline for a while, and then switch on again. Some of them would make it on purpose, some just wouldn't manage to deal with huge traffic.

KylesmomisaB

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I am prepared for every outcome but that one would be weird if all exchanges simultaneously went offline. I am expecting the SEC to ruffle some feathers but not all the feathers at once...

nomadedigital

member

Activity: 135

Merit: 10

The only thing one needs to be prepared for is the lot of new exchanges popping up most of them frauds, universal dump...yeah right..that sounded like some major universal pile of turd coming earths way? sorry im keeping OP tone Cool

JanpriX

hero member

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Buy The F*cking Dip

Quote from: dektox on December 18, 2017, 07:53:20 PM

As a lot of trading newcomers last days joining this community, I'd like to speak to you in a SEC manner: be careful, it still high risk investment. My question is: are you ready to global exchanges switch-off during the massive, universe dump?

This made me laugh hard. Grin

Good job on posting this one as you made my day by making LOLing out here in my room. For those who will read this thread (especially the noob ones), there will be no "massive, universe dump" as this fellow one is stating in his OP. There will be some dumps here and there and that will always be present in any exchange because that's just part of any market with trading involved in it.

If by any chance, you have any proof of what you're saying, be my guest and put it here. Don't spread FUD where you can't support right away.

eance

full member

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Lol.. wtf..

dektox

jr. member

Activity: 114

Merit: 7

As a lot of trading newcomers last days joining this community, I'd like to speak to you in a SEC manner: be careful, it still high risk investment. My question is: are you ready to global exchanges switch-off during the massive, universe dump?

Topic: Are you ready to exchanges switch-off during massive dump? (Read 127 times)