Has anyone else had their market order disappearing on NiceHash?

[bejamartins]

Last night here I left a sell market order on Nicehash. I waited a long while and I just thought the FIFO line was long so I went to bed. Now I wake up to have all registry of my order disappearing. I added a new sell order now but I lost a significant bit of value ofc.

 

Luckily I left a tab opened and was able to take a print and created a ticket there, but this seems really shady. Widrawals are temporarily blocked so it seems my Bitcoin there is stuck on the downfall. I'm really frustrated and don't know what else to do.

 

Update: the new sell order was processed now but yeah, I lost quite a bit it seems, given that Bitcoin was valued around 35k € last night and now at 32k. I hope they assume my loss but I think that's a fool's hope.

[tikker]

3 hours ago, bejamartins said:

Last night here I left a sell market order on Nicehash. I waited a long while and I just thought the FIFO line was long so I went to bed. Now I wake up to have all registry of my order disappearing. I added a new sell order now but I lost a significant bit of value ofc.

Are you sure you placed a market order? They should fulfill pretty much instantly as you sell at market price. Also, don't use market orders. You never know what you actually end up with.

 

3 hours ago, bejamartins said:

I lost quite a bit it seems, given that Bitcoin was valued around 35k € last night and now at 32k.

That's unfortunately the risk you take when trading. If you made profit then don't sweat it. Profit is profit.

[bejamartins]

11 minutes ago, tikker said:

Are you sure you placed a market order? They should fulfill pretty much instantly as you sell at market price. Also, don't use market orders. You never know what you actually end up with.

 

That's unfortunately the risk you take when trading. If you made profit then don't sweat it. Profit is profit.

Yes, I have the screenshots I provided them.

 

And the risk is regarding the outcome of the decisions you make. In this case I made the decision to sell and ordered a sell. The sale order was ignored, the responsability doesn't fall on a bad decision I made, falls on a service that was denied.

 

Were this the stock market, the company would be liable:

 

Quote

Another example of a broker's failure to follow instructions occurs when you specifically tell your broker to buy or sell a certain security, in a certain amount, or at a certain price, and your broker fails to submit that order to the market, instead adopting a "wait and see" attitude, hoping the price will improve. That practice, even if verbally authorized by you, is a violation of FINRA rules and protocols. In addition to violating the FINRA rules relating to discretion, your broker breached a fiduciary duty owed to you. If your broker engages in this practice, you should be entitled to any damages/losses suffered if the market moves against you between the time of giving the broker the order, and the time the order was actually executed.

(source)

 

But being this a criptocurrency, I'm not sure if the regulation is the same, although the ethical principle should undoubtedly apply.

[tikker]

NiceHash has been shady on multiple occasions, I'm not defending them. They did warn about maintenance though:

https://www.nicehash.com/blog/post/scheduled-service-works-for-may-18th

so let's hope your ticket progresses. Withdrawals are apparently blocked because of "an incident", whatever that may be.

7 minutes ago, bejamartins said:

Were this the stock market

It's not. Crypto shouldn't be seen as or like stocks. They are their own thing.

8 minutes ago, bejamartins said:

But being this a criptocurrency, I'm not sure if the regulation is the same, although the ethical principle should undoubtedly apply.

Currently there is no or hardly any regulation on the prices of crypto.