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Aren't they a crypto exchange and, similar to Coinbase, make their money on fees? If so, being down, especially when prices are soaring, hurts. If people cannot
by superfrank 6y ago
Aren't they a crypto exchange and, similar to Coinbase, make their money on fees? If so, being down, especially when prices are soaring, hurts. If people cannot trade on their platform, they're not getting any fees.
It sounds like a pretty dumb scam if you as me.
- ur-whale 6y agoYou're assuming their not trading themselves. And before you mention it: yes, that'd likely be illegal under US law, but still, it's a scenario.
- deleted 6y ago[deleted]
- qeternity 6y agoYou're missing the forest for the trees. If crypto crashes, and retail goes away permanently, they lose their entire business. These are 100% planned circuit breakers by the exchanges to halt panic selling.
- gruez 6y agoThis only works if all the major exchanges go down. Is there any evidence of this conspiracy?
- varajelle 6y agoIn the past, Mtgox being offline caused crashes, not prevented them. And that was at the time when it was the major bitcoin exchange.
- noxer 6y agoThats not how the crypto markets work. There is no breaker needed. They allow people to bet on falling and rising prices. A crash doesn't make people go away it makes winners and looser just like if the price goes up. The more it move in one direction the more people will be interested in betting on counter movement anyway so if it swings more its swings more likely back too. There are certainly "cheating" exchanges out there but cheating by stooping trades every once in a while is absurdly inefficient and makes people leave the exchange even if they dont know about the cheating. Exchanges can cheat way way simpler by front running the order books.