GDAX will restore the balance of margin called users with company funds
1–10 of 52 posts
Re: GDAX will restore the balance of margin called users with company funds
#2They must be making a lot of money to be able to do something like this. I understood it to be millions of dollars.
Re: GDAX will restore the balance of margin called users with company funds
#3This is interesting because it gives them a huge incentive to prevent this from happening again, if it costs them millions of dollars each time. I wonder what changes they will institute?
Re: GDAX will restore the balance of margin called users with company funds
#4They must be making a lot of money to be able to do something like this. I understood it to be millions of dollars.
This really depends on how many stop loss orders were there and how users are refunded. I.E. will people be refunded in current price of ethereum or in the amount their stop loss order was set to be executed on?
The number could be fairly manageable.
Re: GDAX will restore the balance of margin called users with company funds
#5[deleted]
Re: GDAX will restore the balance of margin called users with company funds
#6This is interesting because it gives them a huge incentive to prevent this from happening again, if it costs them millions of dollars each time. I wonder what changes they will institute?
Couple things they could do:
1. Rejecting the orders that will wipe out the order book.
2. Doing something hedge-fundy. Becoming counterparty or running the darkpool that let's other people jump on that.
3. Do nothing - there is now an incredible amount of limit orders from people kicking themselves for not doing something like that earlier (I've got a few:P).
Re: GDAX will restore the balance of margin called users with company funds
#7They must be making a lot of money to be able to do something like this. I understood it to be millions of dollars.
This really depends on how many stop loss orders were there and how users are refunded. I.E. will people be refunded in current price of ethereum or in the amount their stop loss order was set to be executed on? The number could be fairly manageable.
I'm wondering, do you suppose there is some sort of insurance for these types of eventualities?
Re: GDAX will restore the balance of margin called users with company funds
#8This is not a real company. I have support requests from May 23 that still have not received any response.
Re: GDAX will restore the balance of margin called users with company funds
#9They must be making a lot of money to be able to do something like this. I understood it to be millions of dollars.
This really depends on how many stop loss orders were there and how users are refunded. I.E. will people be refunded in current price of ethereum or in the amount their stop loss order was set to be executed on? The number could be fairly manageable.
[deleted]
Re: GDAX will restore the balance of margin called users with company funds
#10I had around $151k at the day's value wiped out as one data point (my fiat cost basis on entry was lower, not my life savings but not a trivial amount for me). Had a very busy week and didn't grok it was gone until Thursday afternoon. It actually felt cathartic to feel the feeling of losing $150k in the sense I was thinking "ok if I can accept dealing with that failure I can deal with any business fiasco when I start one".. and now somewhat surreal to get it back.