Larcenous Winkelvii Exchange Hits $2200/BTC, Recants

Shortly before Qntra experience significant downtime this week due to a hardware failure, the Gemini "exchange" reversed a trade that had on Friday November 13th taken the traded price of Bitcoin on that exchange to 2200 United States dollars per Bitcoin. Gemini's "account review team" along with their "executive management" by their own reports conspired to brand the trades a "customer error" and reversed the trades leaving some other parties to these trades with zero or negative balances as they had continued trading after the earlier trade. Winkelvii apologists are blaming fiat market "obvious error rules" for the reversal, though the volume of the trades that took Gemini out of concordance and to 2200 United States Dollars was only 80 Bitcoins suggesting a critically thin order book which makes all attempts at actually trading on that exchange the result of erroneous judgement.

2 thoughts on “Larcenous Winkelvii Exchange Hits $2200/BTC, Recants

  1. Running an exchange is easy. In case of doubt just ask yourself "What would Karpeles do?". Can't go wrong.

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