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re: Official CryptoTalk Thread

Posted on 6/21/17 at 4:37 pm to
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
40546 posts
Posted on 6/21/17 at 4:37 pm to
People on r/ethtrader are saying someone just entered a market sell order big enough to wipe the order book clean.

No idea if it was that, or if just a glitch in the system, but if it was a whale cashing out, that comes out to like 32M....

Someone claims to have done some analysis on the GDAX API and said that there was a buy order filled for 24.5K at an average price of .55/ETH. If that was a legit transaction and not some glitch, that means someone turned 25k into over 13 million in a few seconds.....
Posted by LSU fan 246
Member since Oct 2005
90567 posts
Posted on 6/21/17 at 4:37 pm to
Why?

I don't like coinbase when there are better options
Posted by okietiger
Chelsea F.C. Fan
Member since Oct 2005
42271 posts
Posted on 6/21/17 at 4:38 pm to
Abso-fricking-lutely
Posted by TomRollTideRitter
Member since Aug 2016
13219 posts
Posted on 6/21/17 at 4:38 pm to
Right now Gdax shows my orders as filled, but I don't have anymore ETH in my account. Looks like I've lost 1k at the moment. I predict Gdax will be out for a long time.
Posted by okietiger
Chelsea F.C. Fan
Member since Oct 2005
42271 posts
Posted on 6/21/17 at 4:38 pm to
I mean you should use GDAX. Or something where you can do limit buys/sells.
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 6/21/17 at 4:42 pm to
never a dull day in crypto
Posted by TomRollTideRitter
Member since Aug 2016
13219 posts
Posted on 6/21/17 at 4:43 pm to
quote:

Someone claims to have done some analysis on the GDAX API and said that there was a buy order filled for 24.5K at an average price of .55/ETH. If that was a legit transaction and not some glitch, that means someone turned 25k into over 13 million in a few seconds


I think a lot of these transactions will not stand. We will see though.
Posted by LSU fan 246
Member since Oct 2005
90567 posts
Posted on 6/21/17 at 4:44 pm to
G
This post was edited on 2/8/18 at 12:51 am
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
40546 posts
Posted on 6/21/17 at 4:45 pm to
idk what kind of precedent that will set though if they roll back transactions that were legit.

If it was, in fact, a whale who dropped 32k ETH in a single market order, causing a stop limit/margin call cascade, then thems the breaks imo.
Posted by SlowFlowPro
With populists, expect populism
Member since Jan 2004
469664 posts
Posted on 6/21/17 at 4:45 pm to
this may be my worst trade yet!
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 6/21/17 at 4:48 pm to
indeed im interested to see how this shakes out
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 6/21/17 at 4:53 pm to
i just dont understand the motivations to dump it all like that when you could gradually do so?

accident? gdax glitch?
Posted by TheWiz
Third World, LA
Member since Aug 2007
11870 posts
Posted on 6/21/17 at 4:55 pm to
quote:

this may be my worst trade yet!


Don't worry. I've got you. I saw it go down to $309, up to $315'ish, then back down to $311. I got busy at work for a minute and got in at $320 to ride it back up to $350-$360'ish.

Still waiting...
Posted by Vinny V
Kenna Brah
Member since Jun 2011
3880 posts
Posted on 6/21/17 at 4:57 pm to
Did it really drop to $13 today or was it a glitch. shite I wish I wasn't so busy today
Posted by okietiger
Chelsea F.C. Fan
Member since Oct 2005
42271 posts
Posted on 6/21/17 at 5:00 pm to
Maybe dump and then rebuy a shite load at a ridiculously low price?
Posted by kc8876
Member since May 2012
3624 posts
Posted on 6/21/17 at 5:01 pm to
quote:

Gotcha on the limits. But coinbase sucks. Fees out the arse and their system is terrible for handling any amount of volume

Just look at what is currently happening


That's why you should use gdax

Posted by mb810
Member since Dec 2011
259 posts
Posted on 6/21/17 at 5:01 pm to
today's volatility got all my friends re-interested in it..been getting bombarded with questions all day
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 6/21/17 at 5:03 pm to
quote:

Maybe dump and then rebuy a shite load at a ridiculously low price?


naa, he dumped it all at once (allegedly)

which means he was selling some of his ETH for only $13
Posted by PillPusher
Gulf Coast
Member since Oct 2009
5926 posts
Posted on 6/21/17 at 5:05 pm to
Or he could have told all his buddy's he was about to cash out and cause a crash and to load up.
Posted by LSU fan 246
Member since Oct 2005
90567 posts
Posted on 6/21/17 at 5:06 pm to
Coinbase is gdax.
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