OH GOD OH GOD OH GOD

flash crash I guess.

ethereum had the famous 99% flash crash with something like 20b market cap.

i told people, they cannot trade any alts with margin

Even btc had a flash crash this year on gdax. You should only do margin on an exchange that has circuit breakers to prevent this sort of thing.

should I hold OMG? Is it gonna go up?

yes you will be fine

youll be refunded dumbass. Flash crashes like this have happened before

sell now, new money hasnt sold yet

i'll never trade on margin again

coinbase is adding coins in january

i tihnk they might be

monero
OMG
dash

Why would you do that even

HAHAHAHAHAHAHAHA

dude i went on margin since around 6 dollars
i was holding this coin for so long
what happened is juts unacceptable

coinbase will never in a million years add monero. they have a criteria

why must BTC take down ETH, and ETH in turn take down my favorite alt?

Meanwhile, BTC will bounce right back, and OMG will take a week to return to $9.

>BTC rises
>alts rise tentatively, sometimes, if you're luky
>BTC crashes
>alts fucking crash twice as hard as BTC did

REEEEEEEEEEEEEEE

OMG is already 8$. Nothing can kill skateboard stickers.

>Using stop losses for crypto

You deserve this. Hope it teaches you a lesson.

It's over, why did i not invest in ARK

OMG is a worthless shitcoin that's going to $0.00 in the long run so consider yourself lucking for at least getting $3 out of it.

(juts)

ITS OVER!

SELL BECAUSE NEW MONEY IS ABOUT TO FIND OUT AND GET HOME! THEY ARE GOING TO SELL AT 5pm PST

fuck does that even show you?

Using stop orders in crypto is seriously fucking retarded, congrats OP.

Stop losses can save your fucking life when dealing with dumps, not dips, that happen over night. Saved mine when BCH happened. If I have reason to suspect something's gonna dump, I never go to sleep without first setting a stop loss. I remove it when I wake up.

fuck off pajeet

>meme lines

Shameful.

RIP

Exactly, it makes flash crashes even worse. stop positions only make sense in regulated markets. crypto is the wild fucking west, people need to stop acting like their shit is insured.

you're a pajeet faggot who doesn't know what he's doing and you played on margin
get fucked

...

GAME OVER MAN, GAME OVER

i just saw that neo went from 30 to 4
so if someone sold 100 neo at 30 with 3x margin and bought at around 5 with 3x margin....
he made... 25k dollars out of a 3200 initial investment. madness.

If you suspect something's gonna dump you sell and buy the dip, setting up a stop order is always a loss, it's stupid. Always close your positions before you go to sleep or don't sleep at all.

IT'S GOING

can someone explain what happened here?, I don't understand much of this margin trading thing.

too bad my friend. that's what happens when you get greed. but you still have some money to buy a pistol and couple rounds, right?

reeeeeeeeeeeeeeeeeeeeeeee

You have X funds on your account. You open a margin position using an amount Y of your funds with leverage Z. The size of your position is Y*Z. Y*Z can be greater than X (that's the point of trading on margin, you can trade as if you had a bigger stack than you have)

A margin position means you earn and lose money more quickly depending on whether the price moves up or down. With leverage Z you earn and lose money Z times more quickly when the price moves by a given percentage (Z can be 2, 3, 5, 10, even 100 on some exchanges)

The exchange won't let the size of your losses be greater than X. In the case of OP, by the time the price of OMG went down to 3$, his losses were close to being greater than X, and the exchange automatically liquidated his position, meaning took money out of his account to cover the losses.

You can have a margin long position, which means you earn money when the price goes up, or a margin short position, which means you earn money when the price goes down. OP had a margin long position.

Basically you borrow funds from the exchange and tell it what trade to make, the exchange earns the fees no matter what, if you make a winning trade the exchange gives you what you won, if you make a losing trade the exchange takes funds from your account so that the exchange never loses.

wtf is the point of placing a stop order if you don't want it filled

Shows OMG is gonna moon

You wan't it to fill and stay at or below that price.

You don't want it to immediately go up 300% after you sell.

Bitfinex is liquidating for USD to cover tether redemptions. Goxxing imminent.

>something that's LITERALLY only a logo with no actual product is valued at 800,000,000$
>omg how could it drop?

Hey user, remember when margin trading the never go 1x or above.. you need a big stack to make proper gains using margin
I have 1000 omg on margin and my liquidation price is 12 cents Lmao

>tfw you trade shitcoins on margin

kek

>huur it's just a logo
>Let's ignore that it has one of the best teams in crypto, is the product of a payment processing company that is absolutely sweeping Asian markets, and is heading the development of plasma
Its valued so high because when there finally is a finished product the actual worth of each token will be in the hundreds

>people think this is better than REQ
>crashed harder than it
HAHAHAHAHAHAHA

>when there finally is a finished product
Thank you for confirming what I just said.
Right now it's 100% speculation with no actual product backing the 800,000,000$. There's not even a patent backing the product, which is just hilarious

Do how understand how investing works dude?
Would you rather get in during the speculation phase or buy when everything is done and it's as expensive as its ever gonna be?
I just don't get people on this board some times...

but there is literally no indication of when this thing is going to launch and one of its competitors is about to release something on the testnet soon and is cheaper than it

Thanks.

guy is a fucking retard. not even worth responding to. this is the person that will make a thread asking if they should buy when the marketcap is triple what it is now

Req is not a competitor in any way shape or form
Unless req is going to steal omise's existing customers, which will never ever happen, they aren't competing

Req is literally just aren't white paper
Omise handles billions of dollars in a single year

>understand how investing works
You're not an investor retard. You're a speculator, you bought "tokens" because you hope they will increase in value, that's it. "Investing" means making a deal directly with the company to buy something they need.

I'm not saying OMG will fail, i'm just saying you're fucking retarded if you post things like this today

then when is OMG going to do anything?
that's great for Omise that it does something but its token does fuck all at the moment

I invested in the ico :^)

No, you bought "tokens" because you hope they will increase in value, that's it. "Investing" means making a deal directly with the company to buy something they need.

they should have sdk release by end of the year, not sure what that means
2018 would be the year of omisego

uh huh
sure it will be
until they have a product this thing has no right to be valued this high