Flash crash on Binance

[Anonymous No.29343878]

[Anonymous No.29343914]

>>29343878
it's all so tiresome

[Anonymous No.29343991]

[Anonymous No.29344078]

I hope anyone who bought about 30k gets torched

[Anonymous No.29344123]

A millionaire was born

[Anonymous No.29344209]

bloody monday inc

[Anonymous No.29344309]

>>29344078
yea just like everybody who bought above 5k in 2017

[Anonymous No.29344345]

a .06% flash crash

[Anonymous No.29344363]

>calling that a flash crash
???

[Anonymous No.29344718]

>>29344345
Unfortunately this causes a 10-20% crash on alts friend. I'm terrified that BTC does ANYTHING.

It pumps, alts get drained to fund the pump. It dumps, it's a sign of weakness on the market, so sell alts.

We literally just can't win because boomer faggots need an index fund

[Anonymous No.29344833]

>>29344345
It dropped 2.3% in one minute.

[Anonymous No.29344929]

>>29344833
that's nothing
binance has had several real flash crashes where they actually had to alter the charts because of it.
chainlink to 0.01$ was one of it.

[Anonymous No.29344966]

>>29343878
i wish i still had my screencap of doge's flash crash to .002

[Anonymous No.29344994]

Just CZ eating the longs, nothing to see

[Anonymous No.29345247]

>>29344929
Which of you retarded fucks placed a market order?

[Anonymous No.29345287]

Now this is a flash crash though.

[Anonymous No.29345367]

>>29343878
You can imagine the screams that a graph like that can cause. But the intervals are small.

[Anonymous No.29345516]

>>29345287
what is this pattern called?

[Anonymous No.29345543]

that's not a flash crash
that's called a scamwick newfren

[Anonymous No.29345643]

>>29345516
AAAAAAAHHHHHHHHH

[Anonymous No.29345658]

That’s just CZ doing CZ things to scam longs. Nothing to see here

[Anonymous No.29345760]

>>29345516
>fuckayu gwailostoplossu

[Anonymous No.29345976]

>>29345516
Scamming longs pattern

[Anonymous No.29346402]

>>29343878
No problem degens! Give this chink all your money! Binance scam chain numba one we make a fuckton of money, at least one thing is sure: he make a fuckton of money on you.

[Anonymous No.29346538]

>>29345287
this is as scary as those prank .gifs that have a thing suddenly speed/crawl towards you

[Anonymous No.29346581]

>>29346538
>not buying eth @ $0.10

[Anonymous No.29346630]

Binance is shady as shit.

[Anonymous No.29346771]

>>29345287

[Anonymous No.29347045]

>>29345287
Am I reading this right? 2 dudes got 200k eth between them for an average price of 0.05? woof

[Anonymous No.29347165]

>>29344123
multimillionaire

[Anonymous No.29347343]

>>29347045
No, you're not reading it right. That's the remaining asks in the whole orderbook, unfilled ones. Every single order up until those ones were filled though, which was over 120k ETH. Most of it was most likely sold to the whale who triggered the cascading liquidations and knew he could exploit the naive trading engine they had. If I recall correctly, Coinbase reimbursed a ton of people who lost money on that. Since it was technically fair game, I think whoever executed the massive market sell got away with it.

[Anonymous No.29347344]

>>29347045
125k changed hands between the price of $317 and approximately zero.
You would need the one second chart to see how many got how much at the lower prices.

[Anonymous No.29347405]

>>29344363
>>29344345
Binance is mostly traded by high frequency bots. The markets on the CEX are manipulated hard just like the flash crash of 2010. iykyk

[Anonymous No.29347464]

>>29344718
or maybe you're just retarded?

[Anonymous No.29347473]

>>29343878
NEWFAGS THINK THIS IS A FLASH CRASH
AHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHAAHAHAHAHAHAAHHA

[Anonymous No.29347522]

>>29347343
and that's why they don't have margin trading anymore

[Anonymous No.29347609]

>>29344929
No, it was less than a cent. It was like $0.0001

[Anonymous No.29347613]

Will i ever be able to take advantage of this on coinbase? Ill set limit orders for .01 on all my favorites right fuckin now.

[Anonymous No.29347656]

>>29345287
>>29345287
Some garbage bot was selling 250 ETH at $74.00. Don't underestimate how inept bot programmers and rich people are. This whole event was caused by a market order.

[Anonymous No.29347839]

>>29347343
>>29347344
I see, I'm guessing stop losses were automatically executed and thats why it crashed all the way down? That's really fucking big brain by the whale, circuit breakers make sense now too. What stops CZ doing this on the reg on binance when he has access to everyones order data? He could do it over and over on a smaller scale as often as he wants, kind of fucked up

[Anonymous No.29348006]

>>29347522
really? fucking kek

[Anonymous No.29348027]

>>29347839
These flash crashes make the losers homicidal. Thats a good reason to not do it.

[Anonymous No.29348094]

>>29347656
why wouldnt the bot just sell to the highest bidder?

[Anonymous No.29348146]

>>29347839
that's exactly what bitmex and binance do; they go stop loss hunting on those with high margin and trade against their own users.

[Anonymous No.29348152]

>>29347839
Money is power. You're not just now learning this are you?

[Anonymous No.29348213]

>>29348094
Because its programmed to outbid everyone else to make money on the spread. Most of the time that would work when the price is stable.

[Anonymous No.29348217]

>>29347
>This whole event was caused by a market order.
it would be interesting to see it happening again, but with btc instead of eth

[Anonymous No.29348358]

>>29347656
>This whole event was caused by a market order
it would be interesting to see it happening again, but with btc instead of eth

[Anonymous No.29348388]

>>29348213
Who knows, maybe it bought the bottom and made profit, but it probably was trying to get out of the crash at any price.

[Anonymous No.29348428]

>>29347839
Stop losses and liquidations. The main cause is the extremely naive trading engine. Binance Futures and BitMEX, for instance, have very advanced liquidation engines that prevent that kind of shit. They basically tell you you're liquidated, but then take strategically place orders to liquidate in a way that doesn't trigger massive cascading liquidations and take big losses. They have insurance funds on top of it all to cover people from owing the exchange money in the case of a liquidation that can't cover completely.

[Anonymous No.29348598]

I just don’t see how it’s possible to execute this successfully without having and insider look at the stop losses or else u would need millions and millions of dollars

[Anonymous No.29348724]

>>29347405
>tfw 6 colocated market maker bots on chinknance

[Anonymous No.29348851]

>>29347839
Baby's first redpill on the finance industry. If youre not doing the fucking, you're getting fucked, basic rule

[Anonymous No.29348861]

>>29347343

Now you know why bitmex has such a “shitty” engine.

[Anonymous No.29348910]

>>29348598
Its easy to guess where stop losses are set. Amy seasoned trader can and will

[Anonymous No.29349142]

So in other words always have a limit buy order open for a coin for a few dollars

[Anonymous No.29349301]

>>29343878
It's all over MOVE TO STABLECOINS!

[Anonymous No.29349457]

>>29343878
is this the start of a giga dump?

[Anonymous No.29349878]

>>29343878
>too many rong positions
>riquidate them
babbys first candles/ching-chong.exe

[Anonymous No.29350072]

>>29347839
there's nothing stopping them, there's no regulations against it
that's why I tell people to stop using these shitty exchanges and if they do they should not use stop losses otherwise you're going to wake up to a flash crash one day and want to kill yourself

[Anonymous No.29350086]

Can you technically be fast enough to buy during this interval?

[Anonymous No.29350216]

>>29345287
this really happened I shit my pants that day.

[Anonymous No.29350939]

>>29347839
Literally why I don’t use stop losses.