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RE: GDax (Coinbase) bails out margin traders who lost their money by kyle.anderson

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crypto-news · @kyle.anderson ·
$0.23
I disagree completely. 

They will most likely never do this ever again. This was their first flash crash and they will most likely make back all their payouts with trading fees from new traders with renewed trust. 

**There was *no* technical error.** 

Coinbase did not need to do any of this.
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@joshdomsky ·
$0.03
No technical error, really? That's the whole reason for all of this, was due to a technical error. The network being flooded and not being able to process the large number of users in such a short timeframe is due to a technical error. And yes of course they will make back the money, they're one of the most popular, trusted,  and used exchanges there is. This is just a tiny little hump for them get over with many more to come im sure, thats to be expected from a business in the Cryptocurrency world.
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@kyle.anderson ·
$0.47
No, a whale dumping ETH and clearing the order book causing a flash crash is not a technical error. The risks of margin were clearly outlined. The exchange operated as it should have and liquidated everyone's position. 

Sure a circuit breaker would have stopped this but they did not have one per their terms. Not their fault.
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@raphaelom · 
They can prevent this from happening again by implementing a circuit breaker. This would adhere to their  Trading Rules.
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@kyle.anderson ·
$0.47
They will probably add one. 

They didn't need to though. They don't even have to offer margin calls.

They *DID NOT* need to refund anyone.
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