BYBIT have delisted FTT (basically " YOU ARE NOT ALLOWED TO HAVE AN ADVANTAGE")

asriloni

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Quote from: thevoyager23 on November 13, 2022, 03:43:14 PM

Is this moral, ethical?

The question is why do you still trade the dead token like FTT, its platform already collapse and bankrupt there's no reason for bybit to let its traders wasting their money on FTT.

Quote from: thevoyager23 on November 13, 2022, 03:43:14 PM

They ask you to come on their platform and trade, but when the odds are not in their favour they cut you off... ?!

No, it doens't matter a lot. You will always get what you deserve. I meant they ask you but not force you to trade. Please, don't understand it wrongly. There's nothing wrong delisting it.

Quote from: thevoyager23 on November 13, 2022, 03:43:14 PM

I guess there are no market makers willing to risk their finances?

That's why bybit has been deciding to delist FTT from its exchange site. i have no doubt if another exchange site may do the same with it.,

Quote from: thevoyager23 on November 13, 2022, 03:43:14 PM

What gwan here?

What? Gwan? first time to see that.

Quote from: thevoyager23 on November 13, 2022, 03:43:14 PM

What would happen to those traders who have shorted since say $25???

Those who have been shorting the FTT since it was at the top price might get a compensation or their order will be closed by the exchange site itself. You shall not feel worry with it

Orange89

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All happen by the Recent tweet of CZ where he is Appealing other exchange to Delist the FTT token i think most of the Exchange give the notice to their investor/Trader about delisting of token like i checked that with Huobi they mentioned about delisting about 18 hour ago
Never trust Anyone even the more Trusted one can end up with the scam first Luna ,Celcius then FTX and probably more to came better to take precautions and never invest with FOMO thanks alot

serjent05

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Quote from: thevoyager23 on November 13, 2022, 03:43:14 PM

Is this moral, ethical?

Actually, I think it is, since FTT is a dead token, the exchange should protect their client from buying the token. Letting it on the exchange will only make more investors to lose money.

Quote from: thevoyager23 on November 13, 2022, 03:43:14 PM

They ask you to come on their platform and trade, but when the odds are not in their favour they cut you off... ?!

Actually they also lose on this decision. Since the exchange won't get any trading fee from FTT since they disabled it.

Quote from: thevoyager23 on November 13, 2022, 03:43:14 PM

I guess there are no market makers willing to risk their finances?

It is a common sense, you are also not willing to risk your finances, are you?

Quote from: thevoyager23 on November 13, 2022, 03:43:14 PM

What would happen to those traders who have shorted since say $25???

There are still some exchanges that allow the trading of FTT, they can always move to those exchanges.

blockman

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Quote from: thevoyager23 on November 13, 2022, 03:43:14 PM

What would happen to those traders who have shorted since say $25???

They took their profits probably IMO.
There's no way that they've shorted and then didn't took their money out where they've shorted that coin. Or, they have probably reinvested it somewhere else where it's more secured and unlikely to close.
FTT is near to being a centavo in value and that all means that's close to its death.

GreatArkansas

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Quote from: o48o on November 13, 2022, 05:34:09 PM

Quote from: thevoyager23 on November 13, 2022, 03:43:14 PM

What would happen to those traders who have shorted since say $25???

Their shorts are probably closed. So they are way better of if they have shorted it in Bybit then let's say FTX for example. You need a little sense of proportion here. Talking about ethical behavior when TENS of BILLIONS have been gone up in smoke and FTX dumped every coin they had. They even got hacked and you are talking about some exchange delisting something which happens all the time.
(>...)

Exactly, this is very common to some exchanges when you have an open position and the pair you traded will be delisted from the exchange, I believe they did notice this delisting. It will just automatically close.
So for me, they have the right to do this. If OP is worried about closing it's position, OP can use other exchange that FTT is still listed, there are still lot of exchanges that FTT is still available.

o48o

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Quote from: thevoyager23 on November 13, 2022, 03:43:14 PM

Is this moral, ethical?

I see no issue here, it's their exchange, they have to deal with the risk of exposure to a token that's dying. I am pretty sure that Binance delists them eventually too.

Quote from: thevoyager23 on November 13, 2022, 03:43:14 PM

What would happen to those traders who have shorted since say $25???

Their shorts are probably closed. So they are way better of if they have shorted it in Bybit then let's say FTX for example. You need a little sense of proportion here. Talking about ethical behavior when TENS of BILLIONS have been gone up in smoke and FTX dumped every coin they had. They even got hacked and you are talking about some exchange delisting something which happens all the time.

Should everyone have kept Bitconnect listed on their exchanges too after they were exposed just because someone was shorting it? No. It's unethical to keep FTT as a play token now imho

goaldigger

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This is their way saying that FTT is not worth it anymore and too risky to deal with, if you still have position with that better to communicate with the support and ask for your funds so you can access it.

I’m sure Bybit knows what’s the best for them and if they think it will put them on a bigger risk as well, they have to take action right away. It is more ethical to protect traders in your platform, and with this other exchanges should do the same because FTT is dying and no way for them to rise again.

franky1

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FTT is a dead token.
no one should be buying it. its worthless
do not be left holding the bag

no exchanges should be offering trades of FTT token

FTX should not even be offering it out to exchanges to even allow exchanges to then offer it to their customers..

so its actually right and correct to delist the dead token

what FTX should do is freeze their token in FTX and then offer FTT holders refunds at a preferred rate

..
other exchanges trading FTT is not a situation of offering refunds if they continued allowing trading. instead its getting idiots to buy FTT(idiots left holding the bag(body bag of a corpse)) to fund those previous holders to exit FTT.. which is immoral if they did allow trading of the FTT token

for those holding FTT token dont be immoral trying to offload your body bag on new investors. instead do the right thing try to exit your body bag by getting FTX to refund your holding

thevoyager23

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Is this moral, ethical?

They ask you to come on their platform and trade, but when the odds are not in their favour they cut you off... ?!

I guess there are no market makers willing to risk their finances?

What gwan here?

What would happen to those traders who have shorted since say $25???

Topic: BYBIT have delisted FTT (basically " YOU ARE NOT ALLOWED TO HAVE AN ADVANTAGE") (Read 73 times)