Topic: Bitmex Can’t Handle Strain as Trading Increases with Bitcoin Rise (Read 115 times)
November 02, 2019, 02:38:03 PM
Not sure if this has much to do with increase in BTC price? It's going on for too long with these
November 02, 2019, 02:26:41 PM
This is no big deal but Binance has far too many issues to ignore. This crash thing is quite normal and I don’t think it hurts ordinary trader too much, but other aspects too which is where I feel concern.
November 02, 2019, 02:21:23 PM
I think most exchanges flopped badly so it was not just Bitmex or binance.
Anyhow, I am not even using these options.
Anyhow, I am not even using these options.
November 02, 2019, 02:17:42 PM
I don’t care as long as Bitcoin keeps going up and up 
Enough of down!!
Enough of down!! November 02, 2019, 02:03:11 PM
Sick and tired if such depressing stories… I don’t really trust any exchange and will suggest others same. It’s too risky to put your money in these.
November 02, 2019, 01:57:42 PM
Binance has gone terribly wrong, but it's just sad so many exchanges are showing their true faces
November 02, 2019, 01:50:41 PM
High costs, zero concerns about members' privacy, difficulty withdrawing funds, and so on.
All this makes it obvious that innovation is necessary in exchanges and I'm not just talking about DEX, I'm talking about any user-oriented option.
All this makes it obvious that innovation is necessary in exchanges and I'm not just talking about DEX, I'm talking about any user-oriented option.
BitMex is not the only one. Almost all exchanges care zero about privacy and all that. So nothing to be surprised.
November 02, 2019, 01:43:28 PM
BitMex is not the only one. Almost all exchanges care zero about privacy and all that. So nothing to be surprised.
November 02, 2019, 12:47:08 PM
Lest you forget their email databases was hacked recently,
https://blog.bitmex.com/updated-statement-on-the-email-privacy-issue-impacting-our-users/
So it's pretty obvious that the recent incident tell us how Bitmex is really doing. The breached has affected thousands of their users here so maybe it's time to look for other exchanges now and stay away from Bitmex until they solved everything.
Quote
Earlier today, some of our users received an email which contained the email addresses of other users in the ‘to’ field. We apologise for the concern this communication may have caused. This was the result of a software error which has now been addressed.
BitMEX takes the privacy and security of our users very seriously. Rest assured that in this instance, beyond email addresses, no other personal data or account information have been disclosed and no further emails have been sent. The error which has caused this has been identified and fixed, ensuring our usual high standards of privacy are upheld.
BitMEX takes the privacy and security of our users very seriously. Rest assured that in this instance, beyond email addresses, no other personal data or account information have been disclosed and no further emails have been sent. The error which has caused this has been identified and fixed, ensuring our usual high standards of privacy are upheld.
https://blog.bitmex.com/updated-statement-on-the-email-privacy-issue-impacting-our-users/
So it's pretty obvious that the recent incident tell us how Bitmex is really doing. The breached has affected thousands of their users here so maybe it's time to look for other exchanges now and stay away from Bitmex until they solved everything.
November 02, 2019, 12:32:43 PM
Same old BS of these exchanges, I don’t think there is any exchange that’s different!
All are bloodseekers!
All are bloodseekers!
November 02, 2019, 12:23:28 PM
Bitcoin price and popularity has spiked in the past few days, with everyone talking about the most widely known cryptocurrency. The token created by anonymous Satoshi Nakamoto saw a huge price jump, going up 35% in 24 hours on October 26th.
Many were rejoicing at the sight of a triumphant Bitoin, which had one of its largest price increases in its history. Many traders in Asia and around the world headed to their exchanges to get in on the action.
Yet, the large number of people looking to exchange left many leading exchanges floundering at the increased traffic.One of these exchanges was Bitmex. Not only that, but Bitcoin short traders on Bitmex also took a substantial hit, as just under $150 million worth of BitMEX short positions liquidated.
The derivatives exchange had numerous shutdowns with many angry Twitter users bemoaning the exchanges lack of stability in a crucial time for trading.
Twiiter user @MoonOverlord tweeted saying: “BITMEX ORDER SUBMISSION ERRORS EVERYWHERE”. DTCCryptoTrading tweeted there disappointment with not just Bitmex, but also Binance who had issues too. Their tweet said:
“In 1 word, horrible. Both Bitmex and Binance can’t take the liquidity, I did not had any sell orders so missed the top by like 6% unfortunately.
They really need to solve this when we get some real volume, because there is not that many active traders anymore”
The complaints did not stop there. Adam Benko complained about the amount of time transactions were taking on Bitmex. He tweeted:
“Took me 4 min to make market buy on bitmex yesterday.”
Clearly, in what was a beautiful moment in cryptocurrency history was spoiled by some exchanges. Bitmex without a doubt cost many traders money and opportunities with their website unable to cope. Sadly, this is not the first time this has happened at Bitmex.
Bitmex’s History of Crashes
Bitmex has a long history of crashes on their website as well as liquidations. The company liquidated many of their assets in September 2019 which caused bitcoin’s price to fall dramatically.
Not only that, but the exchange is often known in crypto circles to crash. August and September 2018 saw many Twitter users call out the exchange for closing down and their website showing error pages. A tweet from Ashish Rohilla rather summed up the feeling towards the exchange:
“We are already rekt with latest Bitmex scam. Thousands of people lost their fund because of there strategy and so called website error.”
It would seem that Bitmex can not be trusted and is regularly letting its customers down. Let’s see if they will make any announcement around the issue or make roll backs, something the FTX did this week after their website crashed.
Source of article: https://www.coinomi.us/bitmex-cant-handle-strain-as-trading-increases-with-bitcoin-rise/
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