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Author Topic: Bitmex Destroying Crypto`s Quality  (Read 176 times)
twkasun5
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September 18, 2018, 11:07:29 AM
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Isn't Bitmex should ban? Aren't they are destroying the quality of the Cryptocurrencies.

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leonix007
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September 18, 2018, 02:00:20 PM
 #2

Isn't Bitmex should ban? Aren't they are destroying the quality of the Cryptocurrencies.

What's the reason behind?

Tbh, bitmex plays a significant role in price fluctuations, or should say manipulations

however I think its not a ground for getting it banned

Some folks also got these exchange a fortune, but probably more got rekt

btw, its not only bitmex offers such huge margin out there Wink



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September 18, 2018, 02:28:18 PM
 #3

Isn't Bitmex should ban? Aren't they are destroying the quality of the Cryptocurrencies.

What's the reason behind?

Tbh, bitmex plays a significant role in price fluctuations, or should say manipulations

however I think its not a ground for getting it banned

Some folks also got these exchange a fortune, but probably more got rekt

btw, its not only bitmex offers such huge margin out there Wink
At this stage, if people do not understand that leverage trading is certainly not the way to go, and it is more susceptible to manipulations, then I do not know when they will actually get it. This is a decentralised space with little or no regulation at all and for leverage trading, that makes it easy for manipulations.

I see no reason why bitmex should be banned or why any leverage platform should be banned, it is a choice and there other better ways to trade than leveraging. People always want big money, but like they always say, bigger profits leads to bigger risks.
Awesomus Maximus
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September 18, 2018, 03:19:20 PM
 #4

"Should Bitmex be banned?" It is the same as if you ask "Should gambling be banned?" Not legally, it shouldn't be banned. But it makes so many people unhappy that it probably should.
The quality of the crypto is the same with or without it, but people would do much better if they stay away from these quick money making schemes.
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September 18, 2018, 05:11:01 PM
 #5

"Should Bitmex be banned?" It is the same as if you ask "Should gambling be banned?" Not legally, it shouldn't be banned. But it makes so many people unhappy that it probably should.
The quality of the crypto is the same with or without it, but people would do much better if they stay away from these quick money making schemes.

Idk how to react to OP like it seems he got scammed by bitmex. On a contrary, no one forces us to use bitmex and besides before we use that we already know how risky doing leverage trading so don't connote something that im the end you're the one losing. Doing leverage trading isn't easy as it seems because you can loss here big time but if you execute it properly, you'll be highly rewarded.

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September 19, 2018, 12:36:55 AM
 #6

What do you mean?  Bitmex is exchange that offer crypto trading futures product. This platform already given way to make profit in down trend of crypto,  so trader will be have diversify risk. I think Bitmex make positive impact for demand of crypto because we should be make deposit by Bitcoin to trade there.

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September 19, 2018, 01:25:56 AM
 #7

I do find it quite fascinating the fondness Bitcoiners have for embracing and elevating shameless bucketshops. They keep whining on about 'manipulation' yet pour in to the same places they accuse of doing it.

There's a very definite air of masochism that's probably never going to go away.
Karlinz
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September 19, 2018, 06:54:25 AM
 #8

I don't quite fancy leverage trading, have actually signed up with bitmex but when I found out how lot of person lost trying the margin trading. It is very high risk

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September 19, 2018, 07:22:38 AM
 #9

I do find it quite fascinating the fondness Bitcoiners have for embracing and elevating shameless bucketshops. They keep whining on about 'manipulation' yet pour in to the same places they accuse of doing it.

There's a very definite air of masochism that's probably never going to go away.
Normally, those people want to dig their own graveyards, they keep on coming and doing leverage trading even they know that losses is highly anticipated. Yes they're masochist that see the pleasure in every losses they had and they seems feel empty if they don't have.

And when they've lose their life savings, they gonna cry here like an innocent child. Watch out for the next drama.
They're really impossible.

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September 19, 2018, 09:05:05 AM
 #10

Isn't Bitmex should ban? Aren't they are destroying the quality of the Cryptocurrencies.

I think Bitmex is not the main benchmark that determines the quality of a cryptocurrency.

The quality of a product is more determined by :
- Project goals
- Roadmap and achievements
- Sustainable development of the project
- Community acceptance

Bitmex for me is a money barn (only for those who understand about the risk of leverage trading). Bitmex is same as Forex Exchange.
High leverage on the one hand is very profitable, but in the other hand can makes people dig their own graves.

But I admit, Bitmex contributes to manipulate against crypto prices.

Still busy with my own small project till mid Jan 2021.
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September 19, 2018, 09:34:02 AM
 #11

Many places of sale are called kill coins, like the idex ... these transactions are mass kill coins, maybe the price will drop pretty much against the ICO price, so just wish the coin holds the list where Good deal

nl247
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September 19, 2018, 01:57:11 PM
 #12

I do find it quite fascinating the fondness Bitcoiners have for embracing and elevating shameless bucketshops. They keep whining on about 'manipulation' yet pour in to the same places they accuse of doing it.

There's a very definite air of masochism that's probably never going to go away.
Grin Masochism indeed! It is a normal thing in life for average people who are not smart enough to be able to get themselves equipped with knowledge to see them blame other things for the shitty decisions they make.

The same thing certainly applies to trading, as we have a lot of people here who are just looking for the easy way out to get rich quick and thought they could just hop into trading to take advantage of the fluctuations, and when they get burned and frustrated, they keep blaming bitmex to be the cause of their problem and why it should be banned. I guess we never will stop seeing those whiners, would we?
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September 19, 2018, 02:29:53 PM
 #13

I totally agree. The shorts and longs are just manipulation of the prices. They are blocking and allowing the trades when they want or when the price is dropping or pumping. It should be illegal and closed down.

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September 19, 2018, 06:20:35 PM
 #14

I think that giving people a way to bet on the bearish market has definitely contributed to it in to some degree. However, Bitmex has been around long before this bear season, so we can't attribute the entire correction to the shorts on Bitmex. Overall, it's a little bit of everything causing the current market, FUD, bad news and too many shorts are certainly part of it.

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September 19, 2018, 06:52:12 PM
 #15

I totally agree. The shorts and longs are just manipulation of the prices. They are blocking and allowing the trades when they want or when the price is dropping or pumping. It should be illegal and closed down.
As fraudulent as they can be, how can we accuse them of destroying bitcoin when everyone is too greedy themselves and keeps on coming back for more when they already at a negative side trading on Bitmex? I really don't get people shouting around and blaming exchanges when they themselves was part of the problem? If you don't like to trade in Bitmex then look for other options. Besides there are alot of factors causes this free fall but it doesn't mean we should point fingers at each others and blame it to them. This is a open market after all.

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September 19, 2018, 09:32:43 PM
 #16

The same thing certainly applies to trading, as we have a lot of people here who are just looking for the easy way out to get rich quick and thought they could just hop into trading to take advantage of the fluctuations, and when they get burned and frustrated, they keep blaming bitmex to be the cause of their problem and why it should be banned. I guess we never will stop seeing those whiners, would we?

Well, to be fair it seems relatively clear that Bitmex at the very least has moments where they're willing to slide all 18 inches up your colon and not break a sweat.

The outages and insider trading leave a nasty taste but that won't stop people rewarding them with their business just the same as Bitfinex. It's a tad disheartening to see the most successful trading businesses being proper questionable but users get what they deserve.
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September 20, 2018, 12:15:15 AM
 #17

Isn't Bitmex should ban? Aren't they are destroying the quality of the Cryptocurrencies.
Bitmex has an impact on the btc price but I think it's not really big. Need to look at the fact that currently in the bear market it is difficult for btc to bump.
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September 20, 2018, 12:37:34 AM
 #18

Bitmex is offer others ways to earn more Bitcoin, there are alot of others similar platform like Bitmex and many trader chooce this platform to earn Bitcoin. Trading futures is trading product that good for trader who want to make higher profit with bigger risk from price action of crypto. In my country crypto futures trading regulated by our government so no reason to ban this kind trading product.

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September 20, 2018, 07:51:37 AM
 #19

I do find it quite fascinating the fondness Bitcoiners have for embracing and elevating shameless bucketshops. They keep whining on about 'manipulation' yet pour in to the same places they accuse of doing it.

There's a very definite air of masochism that's probably never going to go away.
It is actually very fascinating and funny. The rate at which people talk about manipulations these days as if there trade totally depends on it, you would think no one else who is a successful and knowledgeable trader is not making shit loads of money from the market fluctuation. They are ignorant of what they do, but they certainly want to blame their mistakes on something.

People think it is just about reading few things about trading and then hitting the trading platform to start trading, it takes a whole lot of practice and until they realize that before they can start making anything substantial and see for themselves that market movements are just normal, you only have to know how to play your card well.
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September 23, 2018, 09:28:55 AM
 #20

What do you mean?  Bitmex is exchange that offer crypto trading futures product. This platform already given way to make profit in down trend of crypto,  so trader will be have diversify risk. I think Bitmex make positive impact for demand of crypto because we should be make deposit by Bitcoin to trade there.
People are always fond of looking for an excuse about some sort of manipulations when they should be asking themselves how knowledgeable they are when it comes to trading the market appropriately. As long as they tend to take the market as a gamble, they will definitely keep making mistakes and blaming it on bitmex and manipulation of the whales.

People are making a living with trading irrespective of all the complaints a lot of people put up, so I see all those complaints as bullshit.
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