where are the finex walls?
They got eaten. Completely.
Didnt you get the memo?
BFX's liquidity provider just went fuck this shit and pulled all the liquidity right before the big sell off.
There's only one or two big liquidity providers left on BFX, they all moved on after BFX exposed that they were paying 0 trading fees.
Everyone's on OKC now. Don't be surprised if BFX becomes just another stamp like fiat gateway.
If they pulled out, others will move in to out bid me. Or I make bank.
Traders love volatility. Investors don't. I'm both. I ain't worried either way.
You're not a liquidity provider in the sense that I'm talking about, yes traders provide liquidity but exchanges have deals with certain parties to provide serious liquidity on their platforms.
It's way more complicated than just traders will step in to provide liquidity. Just look at the effect of closing $5mill in longs when Mr MM pulled his liquidity.
You do know BFX had to halt margin calls even though they reached liquidation price due to the lack of liquidity on the bid side and how much the cascading calls would move the market. Trust me I've had multiple conversations with Phil about it.
If they had let the margin calls and sells carry on organically BFX would have eaten the whole of its book during that crash.
"If they pulled out, others will move in to out bid me"
They pulled out, have you seen the order books, $2.6 million moves the market down 50%.
I know several whales who moved long ago when this 0 fee fiasco happened, nearly all the big traders are on OKC.
Those books don't show my hidden lowball orders and I suspect many more on top of mine.
I'm HAPPY those longs were closed. They put a ceiling on price. every margin long has to close before profits are taken. I closed a bunch myself when I trippled down AFTER the bottom, got my average buy-in price below spot on the bounce, closed and used the profits to buy MOAR BTC.
edit: and screw those guys. Why should they get zero fees when I have to pay?
