Hi, according to the notes, your account was exploiting a temporary pricing error for HBD on our site (these happen sometimes when we rely on a pricing source that has bad data, such as an exchange where deposits/withdrawals have been disabled, but trading is still allowed).
While this isn't illegal or anything, it's not "friendly" either, and ultimately such attacks mean we have to charge other customers more. So our policy is to just stop trading with accounts that do that.
In that time, I thought that the prices on internal market and blocktrades are a little bit apart from each other just because there were not many user interfaces of the internal market so people were not trading much HBD/HIVE (and I think there were still open orders from before hf).
Pricing error?
I knew that most exchanges - that accepted HIVE and HBD - had those currencies on maintenance mode, including Bittrex, according to which you probably set your rates. However, trading of those tokens was not stopped there. Everyone was able to sent their Bitcoins to Bittrex, change it to HIVE or HBD and hold it for a while. If you had some reserve money that you would choose to use for this purpose, you could have bought HBD at "profit" - if you were willing to bet that your HIVE that you got will stay at the same price (because of your commission, that would be pretty much like betting with edge that favors you). The only problem was that you were running out of HBD and it was not possible to transfer HBD from an exchange.
You started to enable trading without having your prices set by an exchange that enabled withdrawals/deposits, you took the risk, you chose it yourself. Punishing your clients for trading on your platform is bullshit.
Now, if you really think you had 'pricing error', why don't we see you compensating those who were trading the other way (HBD for HIVE)?
Hi, according to the notes, your account was exploiting a temporary pricing error for HBD on our site (these happen sometimes when we rely on a pricing source that has bad data, such as an exchange where deposits/withdrawals have been disabled, but trading is still allowed).
While this isn't illegal or anything, it's not "friendly" either, and ultimately such attacks mean we have to charge other customers more. So our policy is to just stop trading with accounts that do that.
Thank you for your quick reply.
In that time, I thought that the prices on internal market and blocktrades are a little bit apart from each other just because there were not many user interfaces of the internal market so people were not trading much HBD/HIVE (and I think there were still open orders from before hf).
Pricing error?
I knew that most exchanges - that accepted HIVE and HBD - had those currencies on maintenance mode, including Bittrex, according to which you probably set your rates. However, trading of those tokens was not stopped there. Everyone was able to sent their Bitcoins to Bittrex, change it to HIVE or HBD and hold it for a while. If you had some reserve money that you would choose to use for this purpose, you could have bought HBD at "profit" - if you were willing to bet that your HIVE that you got will stay at the same price (because of your commission, that would be pretty much like betting with edge that favors you). The only problem was that you were running out of HBD and it was not possible to transfer HBD from an exchange.
You started to enable trading without having your prices set by an exchange that enabled withdrawals/deposits, you took the risk, you chose it yourself. Punishing your clients for trading on your platform is bullshit.
Now, if you really think you had 'pricing error', why don't we see you compensating those who were trading the other way (HBD for HIVE)?