and the carnage strikes home....
The plunge in Bitcoin price caused something called a Global Settlement for everyone that had a margin position on the Bitshares DEX, regardless of the collateral you had posted. At 1st I was like...Dammit I didn't have my loan properly collateralized- I couldn't manage it because I was out for the day. Then I happened to read a tweet about the Global Settlement that happens so that the Bitshares Ecosystem doesn't go bankrupt (I think). I don't completely understand the mechanism in play that caused it. Part of me wants to blame people with alot of money that were over extended on their loans- people who were over extended by the hundreds of thousands of dollars that took everyone else down with them. The other part of me is like oh-well...that's the game- don't play it if you can't handle the potential of price falling. I lost $450 and others lost way more, so not completely REKT.
This is what happened to me, johnnycakes:
edit1.....I just found this that explains everything..
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STOPWho that you will have better luck I. Other trades and hopefully #BTC will recover soon
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