There's a definite possibility of a bank-run type situation with Bitmex. As the fees and transaction times go up and the price continues to slide traders are going to start panick withdrawing. Popcorrrrrnn
"There's a definite possibility of a bank-run type situation with Bitmex"
What does that mean?
That they don't have the liquidity they claim they have.
yep, and whether that's true or not.. in addition to that exchanges suck at committing real withdrawals to the blockchain, the blocks are still 1mb, could be a fee for all situation
Or say you hold your shorts all the way to the bottom and then you have 10,000 BTC...great! Except when you start trying to sell them and there's no buyers.
So it's this big scary game of chicken. If you have to wait 6 hours+ and you might lose 10% of the value in that time, is it worth it to stay on Bitmex?
It's possible to short the market on Bitmex BUT when you close your position you still have to withdraw in BTC. If blocks are full you gotta pay/wait more and more to get out.
that's what i've been waiting for, for ages now... once there is a bank run situation, the blockchain is fucked worse than december levels..... tether is gonna implode any day now too
They are run by a former Citibank trader. They offer 100x leverage product. But they don’t have fiat deposit/withdraw. And no mainstream media / regulator mention about them.
The logistics of jumping off that sinking ship with any of your balance in tact should scare the living hell out of anyone with a decent amount of money on there.
