Oh my god, someone just sold a shit ton of ETH for $16 by accident

>CryptoKing
hehe, not anymore

The king is dead, long live the king

HAHAHAHA

ETH MAXIMALIST BTFO
NORMIE KEKBASE BTFO

Kek, fingers crossed its this "bro"

youtube.com/channel/UCu2X1dIEyJW9BO4w23rM2RA

>he got scammed by Veeky Forums into buying ETH

sauce to reddit thread or gtfo

>reddit

How does that work though?
Assuming some guy sets his sell order at 16 cents, who got the coins? The one that had his buy orders nearest to market price or the guy having his buy order set at 16 cents?

reddit.com/r/ethtrader/comments/6ijyv0/daily_general_discussion_june_21_2017/dj7rb3b/

>reddit.com/r/ethtrader/comments/6ijyv0/daily_general_discussion_june_21_2017/dj7rb3b/

kek thx

The one with the highest buy order

I'd assume he was trading on margin and his exchange didn't like his position and potential loss given what's happening with ETH and just pushed the kill switch on his "loan"

>placing a market order
kek

$16 today
$7 next year
Why you guys never listen?

>this user has no posts

Lol that's one risk of trading with margin

>Go to Gdax
>Put in a buy order at 16$
>1 week later you have 100 ETH

It's that easy

L (for lol)

>yfw you fat finger 3 million dollars down the drain

That's a fucking larp

Right??

highest quantity of eth?

i make my living off these people, sh

HAHAHAHAHAHAHAHAHAHA

IM FUCKING DYING HAHAHAHAHAHAHA

Its OK, Vitalik will just fork again

Shaky weak hands must have fat fingered the buttons

this is also why i never daytrade with my ether, one mistake and you could sell your ethers to a fraction of the price, or just be left behind when it moons

He wiped out the whole order book

JUST

i think he meant 10k usd worth of ETH not 10k eth....i hope

i can't even read the graph on cryptowatch anymore because of that huge dip

this is the biggest JUST in eth history

also for you bitcoins faggot, this has happened to your dumb coin aswell, dont get too cocky

someone sold a fortune of bitcoin for a few cents couple of months ago

>sell 10k eth for $16,000
I think I'd just go blow my brains out at that point.

>muh weak hands meme
retard he was clearly trading off margin, fucking idiot meme-spouting newfag

...

and someone on my discord chat sold 295 ETH and received 0 USD

I will never forget this day
This makes every shitcoin moon-mission pale in comparison

if I put in a bid for 1000 eth for a penny each and someone clicks sell by asking price am I rich?

Holy fuck

they would have to wipe out the entire order book until it reached your order. happens once every few months when someone fucks up.

Atleast we know there's a solid floor at 13$, no worries

What the fuck am I looking at?
Did he place a stop loss?

kek

Own a lot of ETH, sell 100k for 16$ because you notice there is few orders for 16$ and you want to spook the market.

Place buy order for 16$ beforehand. You just gave the exchange some commission but its ok, because ETH will bounce back eventually and you just made a lot more money buying the dip.

Whaling 101.

Do people actually buy those ? I thought that were whales buying coins from themselves to hike the price

I would suggest you stick to your day job.

So, is the lesson to always leave ridiculously low buy orders in case some madman flash crashes the market?

kek newfags btfo again

if he had sold at the ATH, he would have well over 4 million dollars now, which is more than enough to retire comfortable

that's what happens when you are greedy, and why daytrading is risky AF

one fat finger mistake or weak shaky hands are your life savings are gone desu

this is what i was thinking as well. you could easily make thousands from someone fucking up or am i missing something?

This is a lesson not to set stop losses and never trade on margin.
Buy. And. Hold.

except that other whales and bots would scoop up all that ether alongside you

Sauce? Is this real?

ur a retard, don't post

i read his reddit comments. It was 60 ether.

you're parking money in the exchange doing nothing on the off chance it happens

HOLD ON FOR A SECOND

Does this mean that if I had a buy order for 100 ETH set at 30$ a piece I would just have 10xd my money??????

no u

Uuuhhh...y...yeah??

maybe

but bots could easily have scooped it up before your order was fulfilled

yea but if it goes down to $14 like this, even putting like $250 could net you thousands if you were lucky enough to scoop it up. but im guessing there are thousands of bots that would buy it before you

i want to fuck this girl so bad man

yes. Why didn't u?

this

You are retarded

This. I'm pretty sure the whales have already accumulated that poor redditor's ETH for only $16.

lel

Shouldn't this like... not work like this?
A sell order should start selling to the most expensive buy orders in the order book automatically. right?

AHAHAHAHAHAHHAHAHAHHAHAHAHHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

reddit.com/r/ethtrader/comments/6iklta/please_boycott_vinny_linghams_civic_ico/

Etherfags mad their shit system making millions for other fags

...

it may not ever get filled

seems like a good place to store your Bitcoins. cancel your order if you need some hope someone fucks up?

who wouldn't

You would think and 60 ETH clearly shouldn't have gone through the whole orderbook.

That's what happened last time I fucked up...

Explain bots to me.

Do they automatically set buy orders at x$ if price drops below y?

iktf, bro

no shit, this is what happens when there are not enough buy orders to cover the huge amount of eth that was sold.

If post is true, liquidation would sell to an individual / group / firm. Not on an exchange. But in this case I don't see why any operation would sell that much for that little

>literally shaking
actually a dumbass

meant to tag this

the price on coinbase has been frozen at $301.97 for the past 10 minutes

found a better version of the pic

cirno is best girl desu

it did
and when those were gone, it went to the next lowest
and the next lowest
and the next lowest
until it hit 13 dollars
we don't know if it was a fat finger 5 million dollar mistake, or a planned dump to buy up a shit ton on the way back

so then what happened?
is this a polo problem?
I've never bought/sold so much to have it go automatically through several orders, so I don't know, but I just assumed it worked like that.
It makes no sense that it doesn't.

How did it happen then?
explain? why it doesn't get filled with better buy orders?

$10k shouldn't go through the whole book

>literally shaking right now

Welp, its bait

I think so. The account is just a couple hours old. Or it might be a throw away account, but who knows.

godblessyou
biz has good taste
here's hoping we all weather the storm, bros

its not 10k usd, it was 10k+ ether or even more.

damn and I thought I was having a bad day for being down $1k on ETH value.

either way, dude got fucked pretty hard
HODL is not just a meme
now i WISH i had a fuckig 10k buy order at 20/ETH

the guy said 10k worth of ETH, that to me doesn't sound like 10k ETH though, but maybe you're right.
Too bad I didn't have a buy order

i honestly think this poor fuck isn't baiting
goddamn why are people like this