Since more than 24 hours it is no longer possible to sell/buy Terra (luna) crypto in the BuxZero app. I see my investment going down by 80% at a rapid pace… people are selling their Terra crypto’s on all platforms, and the ones on Bux are stuck and can’t sell. Is this even legal??? My investment is almost down to 0 and there is no option to safeguard some money.
Hi @kclaes83 sorry to hear this and thank you for flagging.
Our team is currently working on this. Our liquidity provider has turned off LUNA/EUR trading and we are doing everything we can to make sure they turn it back on
I will keep you posted.
Dear Fergus, thanks for this feedback… However, I keep getting this answer since yesterday afternoon. I’m pretty sure the liquidity provider (that apparently has to stay anonymous) will turn it back on again when the price has dropped to almost zero. This is completely unacceptable to me… I wonder how people with bigger investments on Terra via Bux think about this. I can’t imagine I’m the only person who sees his money melting away without being able to do something against it.
I understand it is harsh to see your speculation is being demolished. However your are investing in an unregulated market that already should be a massive red flag. I feel your pain but you should really seek the answer by yourself and don’t blame others. I hope this will be a pricey but good lesson for the future.
I thought Robin Hood’s Gamestop fiasco was regulated.
Wow really? He should blame himself? He can blame himself for investing in it, but he is unable to sell trough bux platform, that’s not his fold. I agree that it’s unacceptable.
But that aside even Binance had to hold their sales of LUNA and UST for a fairly long time. So it’s definitely not only Bux that has a problem.
But I 100% understand your frustration… This should NEVER happen, not in stocks, and not in crypto…
Hahahahahhaah lol, sometimes I really lmao with some investment cases for example Robinhood, AMC and GameStop😂 those just deserve a big lesson. Some people are just made for stupidity
I think you are missing the point here…
Guess some people are just high on how genius they are.
GameStop was obvious manipulation in a regulated market, and lately crypto and tech stocks have both been equally volatile as far as I can see.
Ofcourse. He did make the trade. It turns out that it was not a good investment. Now everybody is running to the exit and now the liquidity everywhere… as an investor you are always responsible of your own choices. Especially in a market which is not regulated. I would like to recommend a paper from bill Ackman to his investors about Netflix. That’s a nice lesson in self reflection and my opinion is that every investor should think like this and stop trying to blame others for their mistake
Yeah to be fair to @DaveyV19, I wouldn’t blame BUX for this one either. When there is market manipulation, you should blame the manipulators. And also, some of the risk is part of the game.
You are really missing the point here… Use that smart elitist investor brain of yours to figure out what the complaining is about.
You bringing up Ackman’s Netflix failure means you haven’t understand a single word. Netflix could be sold even on the 50% dip… This person is complaining about the fact that he cant sell his product. not at a 50% loss, 80% loss or even 99% loss. And he is already unable to sell (Or buy) it for a full day now.
This post is not about the loss. Its about the money being stuck… No one cares if you think something is a smart deal or not in this example…
Its the same with Robinhood. All the outrage was not because Gamestop was a stupid buy. But because Robinhood halted any trading of it.
I am not missing the point. People should look in the mirror and self reflect. That’s my opinion. I also made mistakes with Bpost and EDF… I could blame the government for their interference…. That’s the easy way.
Agree agree, it is Ofcourse a stinky business move with those manipulators… but yesss it is part of investing. You win some you lose some
Well, think about the market markers…. The spread would be immense. Bid would be the current price but sell price would be near 0,01 cause everybody is selling and the risk is huge for them… I don’t think any market maker is this stupid to handle this messy situation… but if you want to sell it for 0,01 be my guest
Explain me how you can sell something when there are no buyers.
Explain me how you can not google the order book of exchanges to see there are buyers.
I’m not one of them though!
And btw, BUX is just a broker. Idk of you know what a broker is doing… but the only thing they do is sending your to a market maker. And in BUX case also store our assets as a bonus. If their is no market maker you can’t send your order to something… you can’t trade…. It is not BUX fault if their is no market maker…. And I also think that marketmakers still want to exist… wrong moves in this market and you are bankrupt…. It’s that easy.
Ofcourse their are still some pirates trying to make profit… but a company like flow traders or virtu… they are not here. I can tell you that