OH MY GOD

THERES MORE

ANOTHER person got fucking obliterated by margin trading, but this time on COINBASE over the same flash crash

So the ether whales, in triggering a flash crash, fucking murdered two morons who LOST EVERYTHING in their amateur trading habits

POWERUPDATE:

THESE TWO WERE PART OF 800 (maybe more) RICH, BLUE WHALE INVESTORS WHO GOT FUCKING OBLITERATED WHEN SOMEFUCK WITH FAT FINGERS ACCIDENTALLY SOLD DOWN $3 MILLION OF ETHEREUM, TRIGGERING A CASCADE OF AUTOMATIC EMERGENCY STOCK DUMPS, ALL THE WAY DOWN TO TEN CENTS PER ETHEREUM

https://blog.gdax.com/eth-usd-trading-update-5d8142b5bdc1

LITERALLY CRYPTOCURRENCY HISTORY ON PAR WITH THE HACKING OF MT. GOX

imagine you have 1000 ETH, that’s roughly $320,000

imagine if your stop loss was triggered during this cascade and thus sold ALL OF THAT at ten cents each while you were away

That $320,000 worth of ethereum just sold for $100

5 minutes later, the price is back to $300 and your $100 of ethereum can only buy you back one third of an ethereum.

woah.

This is /biz/-level mastery of finance holy shit

anarcho-capitalism is totally stable and self-consistent u guise

Alternative fact: cryptocurrency is a project aimed at teaching libertarians why regulations exist and how finance works