Ok wtf is going to happen tmmrw with this?

Ok wtf is going to happen tmmrw with this?
medium.com/@Austerity_Sucks/the-415-million-elephant-in-the-room-okex-futures-unfilled-btcusd-liquidation-aa601b188005

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getjumbucks.com/settlement/
medium.com/@Austerity_Sucks/the-415-million-elephant-in-the-room-okex-futures-unfilled-btcusd-liquidation-aa601b188005
youtu.be/Z0GFRcFm-aY
twitter.com/AnonBabble

bamp.

okex will be forced to sell 415 million worth of btc at market, this will force everything down causing long liquidations across and leverage crypto markets. this inturn will turn market sentiment to full bear.

panic shorts will enter and btc will continue dropping. wash trade exchanges will close shop

in 72 hours media reports will flood with the death of btc and no one will want it.

okex is about to cause a mt gox event and the meme charts comparing 2014 bear market to the 2018 market will come true.

the only way out of that is if whales pump price to 8k correct?

So the Chinks are doing it again? This here should be a reminder to all those retards who buy into china coins. They are the biggest scam artists the world has ever known. Don't trust a chink and do not buy from a chink.

man thats some doomsday level fud

It’s reality.

no if it's not settled by close, okex has to claw back that btc, so they will market sell it down the book.

8k only matters to the other traders if 8k gets filled by close they don't spread the losses between them.

Couldn't be more wrong.

it will be swept under the rug. no one cares.

any more insight?

this is unironically good. at least it gives us a bottom. then we can be in bear for the next 2-4 years and shake out the retards that bought in dec/jan.

can't wait for the final nail in the coffin of Bitcoin

6 hours until the apocolypse

Thanks just shorted 100k 50x leverage

Why can we never have nice things.

bitcoin is going to surge to 10k

stay poor and kys

you def wont make it

I've got the fiat and I'm ready to buy all the way down

Dont you stupid faggot think they would sell already IF they HAD that many BTC lol. It will be massive buy order likely causing price increase

Stupid faggot they cant sell anything they have 10BTC fund

Explain to a brainlet: futures. for ever short position there is a long position? they come in pairs?

Wait how ththe fuck can this happen? I really don't get it, how are people trading with money they don't have or doesn't even exist? How is this legal?

getjumbucks.com/settlement/

renko

1500

soon

Seriously if you are this dumb, you really need to reconsider investing in anything not just crypto.

the order needs to be filled, the clawback means if not filled before settlement. That the order will be moved down the book until filled.

it is over

so low

autist fggt

kys

must be black

>The insurance fund (consisting of the maintenance margin salvaged from liquidated traders) has a whopping 10 BTC, which is not quite enough to cover the tab.

uhhhhhhhhhhhh

>Ok wtf is going to happen tmmrw with this?
Quarter of a million dollars is going to go *poof*.

What happens after that?

Wait and see...

Strong buy signal

copy pasting my shit:

so from what I understand, the futures liquidated long of 450M is effectively a giant sell wall
if OKex puts the clawback into effect, 50% of the profits of the traders will be reallocated towards liquidating the contract
as the 50% profit reallocation is applied to the contracts, the contracts will become cheaper in price
so the contracts will slowly squeeze down lower and lower until it becomes attractive enough for buyers
also likely reducing the price of BTC
I guess then you need to consider the shorters
especially on the other exchanges
they could take advantage of the situation by pushing the price of btc down
making it more difficult to settle the contracts on Okex
by making the price of the contracts unattractive to buyers
thus extending the length of the clawback
and pushing that sell wall lower and lower
or maybe the price of btc will just chad straight through the $8012 and make the contracts look like a tasty snack
who knows
course we've just entered another downtrend
a reversal seems unlikely to me

Were all going to die

time frame

Are you sure you understand the concept of a buy signal?

not sure if I can understand it for mentally challenged retard like you but I’ll try - pending 900BTC buy/sell orders will never be fulfilled because faggots on Okex will not agree to mutual terms and simply don’t have enough liquidity even if they meet 8k target lol
>everyone on okex will get their tether confiscated and Okex will end up buying 900 BTC market at price tomorrow or face SEC FBI and China Interpol raid at the sunset

the margin traders are in a peer to peer agreement with each other, the okex insurance fund was only 10 BTC, so the losses will be socialized between the margin traders at settlement (anyone will a profit will lose it). it won't touch normal order books, it only affects okex margin traders.

dunno. but keep in mind that the unliquidated portion is 950 btc. @ $8012, thats a $7.6M sell wall.

was also wondering about that. its absurd to think that futures don't affect the spot price. if btc were to hit 8500 then the arbitrage opportunity to buy btc at 8k would be yuge. if that presented itself I'd def open an account and buy it up. so by the same reasoning I suspect it will behave as a sell wall for the entire market, because who would push it past 8100 when they can buy it for 8012 on a diff exchange?

at the same time, shorters can use the sell wall to drive the price down. the socialized clawback reduces the price of the contract wall, thus moving the sell wall lower and lower.

lol could you imagine being this retarded or just blatantly lying (in a short) - guys google socialized loss

Lmao at you cuckboys
Okex shorters will just have their earnings socialized
Fair is fair :)

exactly, 7.6m is fuck all, especially for a huge exchange like OKEX - this will be sorted and they will intervene in some way

no matter what happens we are taking a dump to at least 6800

the only reason it happened was poor risk management by okex. this can't happen in the real stock market or on a better exchange like bitmex who has adequate insurance funds. it's basically comparable to the exchange losing customer funds, it doesn't affect anything else beside those margin traders. retards are selling because they think it will though.

>make a bet too big to fail
>it fails
>the winners have to pay for the losers bet

really makes you think what type of person would invent this system

it only failed because okex is incompetent, the system works fine everywhere else

maybe. i guess we'll see. the way i'm viewing it is if btc spikes past the Okex wall, they have a btc sale. if btc plummets to hell, the Okex wall not only stays in tact, but sqeezes the price down on the exchange. whether or not that affects the greater market, i'm not sure.

aside from the panic sellers i mean.

>medium.com/@Austerity_Sucks/the-415-million-elephant-in-the-room-okex-futures-unfilled-btcusd-liquidation-aa601b188005

Absolutely nothing will happen. This is fake. We're going back to $8,000 because you idiots are too predictable. Then back to $7000. Repeat for a while.

there is no "the way you see it" there is simply facts. and the fact is you're a retard.

you

nice (you) nigger