Topic: What's wrong with Kraken? - page 2. (Read 4416 times)
just ask it in the official Kraken thread and I'm sure Dargo will answer
because it mean also less trade
Well, how will you convince your customers to trade more if you increase your trading fees and charges?---
0.01% per 4 hours = 0.06% per day
0.06 x 365 = 21.9% per annum
Greed!
Charge 21.9% per annum BTC/EUR longs
+
Charge 21.9% per annum BTC/EUR shorts
===
Makes 43.8% interest rate differential between longs and shorts
Greed^2!
Is Kraken the greediest exchange among all bitcoin exchanges?
---
Greed can explain many things but not everything!
Are BTC and EUR financing both equally available? Not at all. EUR funds are much easier to find at nearly zero interest rate while BTC funding is more difficult to secure, especially long term, resulting in considerably higher interest rate. Applying same rollover fees for both longs and shorts means you stimulate BTC/EUR shorts and punish BTC/EUR longs.
Why would a bitcoin exchange side with bitcoin enemies?
it has to do with the falling in price of bitcoin, probably, many exchange are out of money if bitcoin crash too much, because it mean also less trade, people just dump and forget if they are weak hands, otherwise you will get those occasional users that manipulate the price
few bots playing against themselves can't sustain all those exchange with a good volume
few bots playing against themselves can't sustain all those exchange with a good volume
What's wrong with their margin trading fees?
They've started their margin trading with 0.05% rollover fees per day for both long and short positions. Today they informed me there are changes effective immediately. XBT/EUR rollover fee for maintaining a position is now 0.01% per 4 hours. Aside from the fact that fees are outrageously high, it is for the first time I see charging rollover fees per hour. Is rollover fees per hour a common practice among bitcoin exchanges? What's next - rollover fees per minute?
They've started their margin trading with 0.05% rollover fees per day for both long and short positions. Today they informed me there are changes effective immediately. XBT/EUR rollover fee for maintaining a position is now 0.01% per 4 hours. Aside from the fact that fees are outrageously high, it is for the first time I see charging rollover fees per hour. Is rollover fees per hour a common practice among bitcoin exchanges? What's next - rollover fees per minute?
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