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/biz/ - Business & Finance

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6524709 No.6524709 [Reply] [Original]

I have a negative balance on the exchange now. This is what liquidation is supposed to prevent, but they froze liquidations after their recent downtime. I don't know what to do. Should I wait and hope it goes back up? I don't even know if I can close my position now lol... I could end up owing the exchange 1000's of dollars, how's that going to work? Fuck me.

>> No.6524757

they exit scammed on you, exit scam on them

>> No.6524823

wait how the fuck can you have a negative balance?

>> No.6524879

>>6524709
>doing margin trading on kraken
I guess you deserve it, but I don't know how this will end up. Check at your window, you might see the cops coming for you

>> No.6524905

Son, don't margin trade betting on bull after 2 months of the biggest alt coin frenzy in history

>> No.6524909

>>6524823
from an open long position on btc/usd. Yep.

Well my balance is positive again. Should I close the position? What if it keeps going going up? I'll end up with nothing, but at least I won't owe Kraken money. Fuck. This shit is no fun. I'm not having fun anymore.

>> No.6524996

>>6524909
seriously consider closing it yes. Wait for a bounce of BTC but don't greed. I don't know how it will end up if you owe money to kraken

>> No.6525098

I half think this crash was timed to fuck people on kraken while they have their liquidations frozen.

>> No.6525155

>>6525098
They are the ones in trouble now, how do they will get money people owns them now? Do you think they will hunt people down?

>> No.6525298

If they have ur details and you don’t pay they can and will ruin your credit history. It would be hard for them to chase u for the money but they will report your to all the credit databases and fuck u over.
Just close if you’re not sure about btc future. You don’t want to owe money that you don’t intend to pay. It will ruin ur credit score and u will be denied of loans in the future or get horrible interests rates.

>> No.6525382

>>6524709
you are going to jail anon, pack your shit, you are leaving soon, crypto is dead anyway

>> No.6525532

>>6525382
>>6525298
>>6525155
Heheh this is just F-Fud, right guys?

>> No.6525797
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6525797

>>6525098
>mfw this nigger causes a cascade and kraken goes insolvent and I lose my 10 btc even though I did nothing wrong

>> No.6526092

>>6525797
Fuck it's going up again... I really need to sleep before class, but I can't possibly go to sleep in this condition unless I bite the bullet now and take 98% loss.

>> No.6526168

should I just close all my windows and go to sleep? If it keep crashing I could be like "Hey, you guys were supposed to liquidate me at 40% margin, I demand that you retroactively do that."

>> No.6526526

>>6524909

Shouldn't the position just close before you're running out of money?

>> No.6526878

>>6524709
>withdrawals reenabled
>you still have money in this dumpster fire

This is the future you chose

And why were you trading on margin when the price was shitting itself?

>> No.6527195

>>6526878
Position was opened when things were not so certain.

Well, I did it. I sold for a 95% loss of what I had 2 weeks ago. Truly a ghastly experience. But I've lost it all before.. I can rebuild.

>> No.6527241

>>6526526
Kraken has paused liquidations because of their upgrade fiasco.

>> No.6527243

you have to deposit more FIAT

KYC, they are coming for you