This is a mirror of the original BitMEX trollbox archive that used to be online here.
BitMEX disabled their archive after the DDOS attack so I have decided to make my mirror publicly available.

Well now, a few days after I made this mirror available to the public, the original archive from BitMEX is online again.
But since it is still limited (neutered to the last few hundred messages) I will keep my FULL mirror alive.

You have access to more than 50 million trollbox posts. This is more than 7 gigabyte of data hosted on a $5 server so please be patient or consider a donation

<<  >>  English  中文  Русский  한국어  日本語  Español  Français 
[2016-01-28 18:17:25] zanza : might have to short oil here rapidtrades
[2016-01-28 18:17:50] tscha : arbitrage001: hello ;)
[2016-01-28 18:19:27] zanza : arbitrage001: hello
[2016-01-28 18:19:38] REKT : Liquidated long on `XBT24H`: Sell 636 @ 382.19
[2016-01-28 18:19:38] REKT : Liquidated long on `XBT24H`: Sell 4294 @ 382.15
[2016-01-28 18:20:10] sleger : list of fails at basic maths / logic +3
[2016-01-28 18:25:23] rapidtrades : zanza: I'm short at 35.20 but only on demo...been testing trading S&P and oil
[2016-01-28 18:26:00] sleger : intraday ?
[2016-01-28 18:26:16] rapidtrades : yea mostly
[2016-01-28 18:26:25] sleger : forget about s&p then
[2016-01-28 18:26:59] rapidtrades : how come :)
[2016-01-28 18:27:05] sleger : too well arbed
[2016-01-28 18:27:32] rapidtrades : oh, not arbing, directional
[2016-01-28 18:27:42] rapidtrades : I only arb in bitcoin
[2016-01-28 18:28:08] sleger : i meant that the price includes already everything you can think of, and maybe you could make some money by luck for a bit, but eventually you will just lose the bid/ask and fees
[2016-01-28 18:29:03] rapidtrades : maybe you're right....even a lot of long-term systems don't work as well on indexes
[2016-01-28 18:29:23] arbitrage001 : cant compete against bi boys
[2016-01-28 18:29:28] arbitrage001 : big
[2016-01-28 18:29:41] sleger : long term it's just luck or not, unless you have a real good model. Short term you will trade a lot and pay the fees and spread a lot and just lose pretty fast
[2016-01-28 18:29:45] arbitrage001 : btc, on the other hand. lots of small boys
[2016-01-28 18:30:13] rapidtrades : it's not so much that, cos forex is a lot bigger...
[2016-01-28 18:30:46] sleger : i dont think you can make money in forex as well trading by hand, unless you found some stupid broker that you manage to trade on old quotes and arb
[2016-01-28 18:31:48] rapidtrades : most of my forex systems are close to 100% mechanical
[2016-01-28 18:32:15] sleger : by mechanical you mean systematic ?
[2016-01-28 18:32:23] rapidtrades : yes
[2016-01-28 18:33:14] sleger : well then maybe you have a good model, how long have you ran it ?
[2016-01-28 18:33:15] rapidtrades : I do apply a fundamental bias...like I will only go long some pairs and not short...
[2016-01-28 18:33:36] rapidtrades : but I'm thinking about going 100% systematic
[2016-01-28 18:34:52] rapidtrades : Bias reduces drawdown but when things reverse strongly you're left at the station...so it's a trade-off
[2016-01-28 18:35:00] arbitrage001 : can easily tell a person market/trading competency here
[2016-01-28 18:36:40] sleger : rapidtrades: unless you have a sharpe of 3, it will take a while to know if it really works or not
[2016-01-28 19:46:50] habibi : BitMEX_Wally: take a look at order book
[2016-01-28 19:51:55] dorothy490 : Where is our market makers
[2016-01-28 19:58:57] lockhedge : there are enough ask orders in the book, but they don't show up because of a high amount of small orders (in combination with a coding bug) @Bitmex_Sam
[2016-01-28 19:59:20] BitMEX_Sam : Ah we have someone being clever
[2016-01-28 19:59:28] BitMEX_Sam : I'll take a look
[2016-01-28 19:59:45] lockhedge : thanks :)
[2016-01-28 20:04:08] lockhedge : you can see the rest of the order book here https://www.bitmex.com/api/v1/orderBook?symbol=XBT24H&depth=100
[2016-01-28 20:06:31] dorothy490 : Nice!
[2016-01-28 20:06:55] tscha : happened a few times before, websocket stream which is used on website only shows top 25 levels of orderbook
[2016-01-28 20:07:59] BitMEX_Sam : We've forced them to cancel
[2016-01-28 20:14:52] habibi : BitMEX_Sam: could u just block his account
[2016-01-28 20:15:24] BitMEX_Sam : I'm very surprised he did it again, we sent a warning message
[2016-01-28 20:15:38] BitMEX_Sam : I'll be watching, if I see it again I will indeed take action
[2016-01-28 20:17:09] lockhedge : ok, have to retract "coding bug", it's actually a feature to only send 25 levels via websockets. sending 100 levels would probably cause some delays when volatility is high and prices are updates more frequently
[2016-01-28 20:17:53] BitMEX_Sam : Right. It's intentional. The real solution is to compress the diffs, we currently do diffs row-level but for the orderbook it needs to be transactional with some client-side book building
[2016-01-28 20:34:37] elmorte : Bit lost in the jargon. Someone padded the order book with 1 contract orders? That happens a fair bit
[2016-01-28 20:35:23] rapidtrades : hey, clawback on okc is applied to the entire account right?
[2016-01-28 20:36:00] habibi : rapidtrades: is there a clawback on okc futures atm?
[2016-01-28 20:36:20] rapidtrades : no but there will be :)
[2016-01-28 20:37:18] habibi : didnt u notice
[2016-01-28 20:37:45] habibi : that the fucking mm is bouncing markets everytime there are huge liq orders waiting before going futher down/up?
[2016-01-28 20:38:08] habibi : coz its in his own bussiness to do so?
[2016-01-28 20:38:36] rapidtrades : ...but I thought futures don't lead spot?
[2016-01-28 20:38:59] rapidtrades : that was a rhetorical q btw, don't answer that
[2016-01-28 20:40:23] habibi : ...they doing it on spot.
[2016-01-28 20:41:26] rapidtrades : alright then
[2016-01-28 20:42:08] lockhedge : elmorte: yes, someone flooded the book with 1 contract orders with the result that the order book appeared empty b/c the web app only shows the first 25 rows of the book
[2016-01-28 20:43:16] BitMEX_Sam : Yeah exactly. We're aware of the issue, fixing it properly requires us to develop a new diffing scheme for the book, which we are working on -
[2016-01-28 20:43:23] BitMEX_Sam : In the meantime we simply ask our users not to abuse the book this way
[2016-01-28 20:50:58] jesperf : wouldn't it help to automatically group the orderbook if a flooding event occurs?
[2016-01-28 20:54:38] BitMEX_Sam : Grouping in this case doesn't help as much as you would think, because only 25 levels are actually being communicated from the API
[2016-01-28 20:55:25] BitMEX_Sam : We're reluctant to switch the datasource to the full book until we redo the diffing, but if this happens more often we may just switch it over anyway
[2016-01-28 20:55:33] BitMEX_Sam : Thankfully the new websocket compression schemes are quite efficient
[2016-01-28 21:06:24] lockhedge : BitMEX_Sam: you could also introduce a max. order limit of e.g. 30 per 10 seconds in addition to the general API call limit of 300 requests per 5 minutes. otherwise it will be hard to combat "real" quote stuffing with the intention to slow down the feed.
[2016-01-28 21:08:18] tscha : lockhedge: batch orders are coming soon, so that wouldn't work well
[2016-01-28 21:08:57] tscha : mm's are going to place 10 or more orders with just one call
[2016-01-28 21:09:02] BitMEX_Sam : Yep - batch orders + amend + batch amend are all in Testnet right now
[2016-01-28 21:09:26] tscha : BitMEX_Sam: that's going to be so cool :-D
[2016-01-28 21:09:45] BitMEX_Sam : If you guys are market making here and have the time it may be worth testing it out
[2016-01-28 21:10:33] tscha : don't have much time atm, will try to implement it @mid of february
[2016-01-28 21:12:30] BitMEX_Sam : I'll be releasing the modifications to our sample bot shortly
[2016-01-28 21:14:38] lockhedge : BitMEX_Sam: great, will test with your sample bot. wanted to try out the websocket version anyway
[2016-01-28 21:21:49] lockhedge : tscha: MM orders shouldn't be a big problem as the quantity is very predictable, but 3000 additional orders within 10 seconds could be a problem. best solution would be a dynamic rate limit based on order size and price (it shouldn't be allowed to send a lot of small orders or orders at non-competitive prices within a short time frame)
[2016-01-28 21:22:36] lockhedge : (not a problem for the order engine, but for the clients)
[2016-01-28 21:23:39] tscha : oooor just compress the diffs :D
[2016-01-28 21:24:42] tscha : BitMEX_Sam: will there be any limit on number of orders included in batch operations?
[2016-01-28 21:24:58] BitMEX_Sam : They're ratelimited like any other call
[2016-01-28 21:25:07] BitMEX_Sam : To encourage consumers to use them, they're ratelimited at 50%
[2016-01-28 21:25:24] BitMEX_Sam : e.g. you have 300 requests per 5 min, if you place 4 orders in a bulk operation you still have 298 requests left
[2016-01-28 21:25:53] BitMEX_Sam : Amending works the same way. Cancellation only consumes one request no matter how many are canceled, and is always allowed to execute even if you've hit your limit
[2016-01-28 21:26:07] tscha : oh :( I thought there is a certain limit under which it just counts as one call
[2016-01-28 21:26:21] BitMEX_Sam : Well, that's 2 :) We still have to limit it to keep it under control
[2016-01-28 21:26:58] BitMEX_Sam : In general if you're having ratelimit issues, it's because you're polling for market data, which we want to heavily discourage
[2016-01-28 21:29:42] sleger : BitMEX_Sam: so too many orders of 1 are forbidden, are orders of 2 ok ?
[2016-01-28 21:29:57] sleger : because im sure if I put 25 orders of 1k, that's not an issue, so what's ok and what's not ?
[2016-01-28 21:30:02] habibi : sleger: are u really that inteligent?
[2016-01-28 21:30:23] sleger : habibi: way more but you wouldnt understand
[2016-01-28 21:30:32] BitMEX_Sam : It's obvious when a user is layering orders to screw with the book, we handle it case-by-case
[2016-01-28 21:30:39] BitMEX_Sam : Don't intentionally layer the book with small orders and you won't have an issue
[2016-01-28 21:30:45] habibi : its enought for me in that way
[2016-01-28 21:30:48] lockhedge : could i currently send 150 bulk orders within 5 minutes containing 10000 orders each on the Testnet?
[2016-01-28 21:31:08] BitMEX_Sam : No, you could send 600 orders per 5 minutes, through any number of bulk calls
[2016-01-28 21:31:22] BitMEX_Sam : Or 300 orders using single calls
[2016-01-28 21:31:24] sleger : but if 25 different users place each 1 lot order it would result in the same problem
[2016-01-28 21:31:34] BitMEX_Sam : Yes. Which is why we're working to fix the root issue
[2016-01-28 21:31:37] sleger : the real issue is that 1 lot is just considered too small by everyone
[2016-01-28 21:32:07] BitMEX_Sam : We're not going to change the contract specs, not only would it cause issues with existing contracts, but it's not unreasonable to have a small size - it allows for smaller incremental positions
[2016-01-28 21:32:24] BitMEX_Sam : It's not much different than spot markets allowing orders for 0.0001 BTC
[2016-01-28 21:32:40] sleger : i do agree and thats also an issue combined with small tick size
[2016-01-28 21:33:02] tscha : rate limit issues are just when market is going supercrazy, like 0.1% of the time (most important time though cause high turnover). Then it will be hard to have multiple orders on multiple instruments, even with batch placement. But okay, we will save calls with amend and 50% off is better than nothing :) looking forward to it
[2016-01-28 21:33:12] BitMEX_Sam : A single contract is 0.0038 XBT at current market value which is a decent size
[2016-01-28 21:33:43] sleger : small size and tick size allows to easily "frontrun" large orders by only a tiny improvement in price
[2016-01-28 21:33:46] BitMEX_Sam : tscha: Bulk + amend will save you about 50%, but in general if you're market making and we know you well, we are open to raising the limit
[2016-01-28 21:33:52] BitMEX_Sam : sleger: That's how markets work
[2016-01-28 21:34:05] BitMEX_Sam : If someone is offering a better price, they are welcome to get filled first
[2016-01-28 21:34:23] BitMEX_Sam : I don't believe that 0.01 is an unreasonable tick size on 25-100x markets
[2016-01-28 21:34:25] sleger : that's why real markets (equity fixed income, fx...) have usually a spread that is 1-5 times the tick size, not 50-100
[2016-01-28 21:35:10] sleger : It is well known and documented that very large spreads in tick size (or spreads always stuck at one tick size in the opposite case) have adverse effects on the market
[2016-01-28 21:35:49] sleger : .1 would make more sense in btc world
[2016-01-28 21:35:58] sleger : and even 1 for longer dated contracts
[2016-01-28 21:36:09] lockhedge : BitMEX_Sam: concept for bulk and amend orders sounds great. will also try out your Delta Server (just found out about it some days ago) https://github.com/BitMEX/websocketAdapters/tree/master/server
[2016-01-28 21:36:35] BitMEX_Sam : lockhedge: Yeah, that's good for market data if you want to integrate a bot written in something other than JS or Python
[2016-01-28 21:36:50] BitMEX_Sam : It's somewhat limited in the queries you can execute, but the overall code surface is rather small
[2016-01-28 21:37:19] tscha : all spot markets have 0.01 tick size, so it would be very unconvenient for bitmex to change to 0.1
[2016-01-28 21:37:58] sleger : arguments maybe ?
[2016-01-28 21:38:57] sleger : all spot markets have 0.01 tick size, so it would be very convenient for bitmex to change to 0.1
[2016-01-28 21:39:59] lockhedge : BitMEX_Sam: will still poll a lot of data (currently position and ticker before every order) until i found i solution to completely rely on websockets.
[2016-01-28 21:40:18] BitMEX_Sam : lockhedge: In that case the delta-server would fill your needs
[2016-01-28 21:42:30] lockhedge : BitMEX_Sam: but is it 100% reliable, is there any data consistency/latency check with REST data? how can i trust that the data is as fresh as what i get from a REST call directly before placing a new order?
[2016-01-28 21:43:41] BitMEX_Sam : lockhedge: The WS data would consistently be more up to date
[2016-01-28 21:44:02] BitMEX_Sam : Deltas are sent out the WS immediately and pushed to the client - so imagine 10ms latency each way;
[2016-01-28 21:44:28] BitMEX_Sam : You would get a trade 10ms after it happened with the WS, but at minimum 20ms after if you were REST polling, and likely much later because of ratelimits
[2016-01-28 21:47:03] BitMEX_Greg : Hey guys.. just add my thoughts about ticksize. I don't agree with increasing to a 0.1 tick size from 0.01. There are numerous studies out there that show reducing the tick size is determental to liquidity. It increases your cost to trade essentially
[2016-01-28 21:47:18] BitMEX_Greg : OkCoin futures actually tried this last year
[2016-01-28 21:47:46] BitMEX_Greg : and they reversed it within a week from all the outcry they got
[2016-01-28 21:48:14] BitMEX_Greg : In general, markets have an overall positive effect from INCREASING tick size
[2016-01-28 21:48:22] sleger : So why not adding 2 more decimals ?
[2016-01-28 21:48:32] sleger : and why SPY trades with 2 decimals only ?
[2016-01-28 21:49:13] lockhedge : BitMEX_Sam: will test it, i had some problems with delays/lags when the message rate was very high, maybe it was just a problem with my ws implementation
[2016-01-28 21:49:34] BitMEX_Sam : lockhedge: Perhaps - what language/lib were you using?
[2016-01-28 21:50:02] BitMEX_Greg : Depends on size of trades I guess. in FX world you are having millions of dollars worth go through, so 1 bp actually makes a big difference. The size on SPY is much smaller relatively, so 2dp makes more sense.
[2016-01-28 21:50:06] sleger : BitMEX_Greg: Almost all markets (real markets) have an average spread that is 1-5x the min tick size, then why wouldnt they add more decimals
[2016-01-28 21:50:20] BitMEX_Greg : Most people are used to 2dp given the convention of 100c = 1 dollar type of thing
[2016-01-28 21:50:45] BitMEX_Greg : Most markets have a tiered tick system
[2016-01-28 21:50:48] sleger : No, the reason fx markets have 5 decimals, is because the average spread is ~5 min tick sizes
[2016-01-28 21:50:53] lockhedge : BitMEX_Sam: very dirty PHP and Python 2 code
[2016-01-28 21:51:10] BitMEX_Sam : Feel free to use our python websocket implementation
[2016-01-28 21:51:16] BitMEX_Greg : theres no rule about average spread and tick size
[2016-01-28 21:51:23] BitMEX_Sam : I'll be pushing an update for the new API soon
[2016-01-28 21:51:35] BitMEX_Greg : it depends on a number of factors
[2016-01-28 21:51:49] BitMEX_Greg : Cant have a penny stock trading with $1 ticks
[2016-01-28 21:52:09] tscha : Greg == Wally I guess?
[2016-01-28 21:52:32] sleger : BitMEX_Greg: Ok, but you are not giving any argument why it is better, only that everything is different. Maybe it will be too complicated but read this : http://arxiv.org/pdf/1207.6325.pdf
[2016-01-28 21:52:39] BitMEX_Greg : No, I'm new to Bitmex. I work with Wally on the customer service side
[2016-01-28 21:52:51] tscha : BitMEX_Greg: Cool, welcome!
[2016-01-28 21:53:03] BitMEX_Greg : Thanks, sledger - will give it a read a bit later
[2016-01-28 21:53:18] BitMEX_Greg : I think if Bitcoin goes back to $1k, then there is a definite use case for $1 ticks
[2016-01-28 21:53:21] sleger : page 29 and further
[2016-01-28 21:53:24] justinlooking : i think you should adjust ticksize to 32nds like us treasury futures on cbot
[2016-01-28 21:53:54] justinlooking : dat 31.5 to 00 wrap
[2016-01-28 21:54:07] tscha : justinlooking: lol
[2016-01-28 21:57:21] rapidtrades : yeah don't increase tick size wtf
[2016-01-28 21:58:44] rapidtrades : we could even go lower imo...here it would be useless but on okc and finex I've seen spreads as low as 0.01...
[2016-01-28 22:00:57] rapidtrades : I was around back when the change from 4 to 5 decimals happened in forex...and spreads noticeable came down from 1 pip to 0.3 on the Euro for example
[2016-01-28 22:00:59] BitMEX_Greg : Yeah, spreads usually go lower in times like this flatline price action. When its more volatile then you get the wider spreads
[2016-01-28 22:02:17] BitMEX_Greg : I think you can trade 0.001 spreads on BTC-E, but I dont see much of a massive difference. Bitcoin doesnt have the liquidity
[2016-01-28 22:02:56] rapidtrades : oh yeah! I just realised that btc-e quotes 5 decimals
[2016-01-28 22:03:42] rapidtrades : sry meant 3....that's weird..guess I was always rounding up to 2 decimals in my head
[2016-01-28 22:04:54] rapidtrades : cuurrent spread on btc-e 0.002
[2016-01-28 22:12:52] sleger : average spread is 50 tick sizes here @rapidtrades it has nothing to do with when fx was 1 pip and eurusd was always 1 pip wide, THEN it made sense to add decimals
[2016-01-28 22:14:38] rapidtrades : well the Euro wasn't ALWAYS 1 pip wide...maybe it was 1.5-2 on average (all costs included)...now it's closer to 1 when u add it spread+comm
[2016-01-28 22:15:11] rapidtrades : it fluctuated 1-2 or more during fat markets
[2016-01-28 22:16:00] sleger : depends where you trade, but on real markets it's .5 pip wide
[2016-01-28 22:16:21] rapidtrades : lol...real markets as in futures?
[2016-01-28 22:16:53] rapidtrades : current Euro spread on spot is 0.2-0.3 on spot...plus comm on top
[2016-01-28 22:17:18] sleger : no real markets as in non-retail
[2016-01-28 22:17:27] rapidtrades : current as in usual...not right now cos it's shitty time of day
[2016-01-28 22:17:54] sleger : on real markets comm are much smaller, 3-4$ per m
[2016-01-28 22:19:24] rapidtrades : The only market that still quotes in 0.5 is EBS isn't it
[2016-01-28 22:19:48] rapidtrades : most others quote as low as 0.1
[2016-01-28 22:19:57] sleger : yes that's correct
[2016-01-28 22:20:15] sleger : reuters is still 1pip except for eurgbp
[2016-01-28 22:21:11] rapidtrades : so ur not accurate then....0.5 is the exception...on most ECN networks 0.2-0.3 is the norm
[2016-01-28 22:22:00] sleger : on average it is around .5 yes
[2016-01-28 22:22:40] sleger : the min tick size on ebs is .5 the average is higher, other markets usually show at least .5 wide, if you trade everywhere you probably see a spread of .5 on average, which is exactly what I said
[2016-01-28 22:24:38] rapidtrades : no the average is 0.2-0.3...u can get an idea of average spot spreads on ECN networks here http://www.myfxbook.com/forex-broker-spreads
[2016-01-28 22:24:53] rapidtrades : EBS is just one part of the market, not the be all end all
[2016-01-28 22:25:41] sleger : your link is for retail brokers, which charge commissions on top of the spread
[2016-01-28 22:26:15] rapidtrades : right
[2016-01-28 22:26:31] sleger : so all-in the average spread is .5 which is what i said
[2016-01-28 22:27:28] rapidtrades : ok then....there's a difference between spread and total cost though
[2016-01-28 22:28:19] rapidtrades : costs are prolly lower the higher go up the food chain...but my point was that overall spreads came down strongly after the decimal change
[2016-01-28 22:29:35] rapidtrades : EBS are idiots for keeping it at 0.5....they're also spearheading changes to clamp down on HFTs...so prolly not gonna be a great place to trade in a few years
[2016-01-28 22:29:45] sleger : yes, i got your point 15 min ago, but you missed mine : "sleger: average spread is 50 tick sizes here @rapidtrades it has nothing to do with when fx was 1 pip and eurusd was always 1 pip wide, THEN it made sense to add decimals"
[2016-01-28 22:31:12] sleger : EBS did change it to 0.1 but reverted to .5 btw
[2016-01-28 22:41:05] REKT : Liquidated long on `XBT24H`: Sell 12 @ 381.19
[2016-01-28 22:59:05] REKT : Liquidated long on `XBT7D`: Sell 200 @ 379.06
[2016-01-28 23:19:35] REKT : Liquidated short on `XBT24H`: Buy 29700 @ 380.43 **MEGA-REKT** :boom:
[2016-01-28 23:33:09] BitMEX_Sam : @lockhedge New bot is up for use with Testnet
[2016-01-28 23:33:12] BitMEX_Sam : https://github.com/BitMEX/market-maker
[2016-01-28 23:40:50] tscha : Blockstream finally admitted that they will make money with private fee-based sidechains. Obviously this only works well if on-chain transactions are costly (which they are achieving by artificially keeping the blocksize low). So yeah... worst case scenario is finally evident. Bitcoin development controlled by a private company trying to change the protocol in a way that is most profitable for them.
[2016-01-28 23:56:11] habibi : https://github.com/gavinandresen/bips/blob/92e1efd0493c1cbde47304c9711f13f413cc9099/bip-bump2mb.mediawiki
[2016-01-28 23:59:59] lockhedge : BitMEX_Sam: great thank. so this version always uses "amend_bulk_orders" and "create_bulk_orders"?
[2016-01-29 00:00:14] BitMEX_Sam : lockhedge: Yes, as well as bulk cancel like it did before
[2016-01-29 00:00:28] BitMEX_Sam : tscha: Have you seen http://hackingdistributed.com/2015/10/14/bitcoin-ng/ ?
[2016-01-29 00:15:07] REKT : Liquidated long on `XBT7D`: Sell 1000 @ 377.76
[2016-01-29 00:15:33] macios15 : bitcoin #tangodown
[2016-01-29 00:16:27] REKT : Liquidated long on `XBT7D`: Sell 1000 @ 375.85
[2016-01-29 00:18:27] REKT : Liquidated long on `XBTM16`: Sell 1 @ 510.92 :punch: :whale:
[2016-01-29 00:18:37] REKT : Liquidated long on `XBTM16`: Sell 1 @ 510.70 :punch: :whale:
[2016-01-29 00:23:14] micmix : BitMEX_Sam: yes, Bitcoin-NG is a very interesting proposal. Thin blocks are also very interesting, they help with block propagation latency (main miner's objection to bigger blocks)
[2016-01-29 00:24:28] micmix : and thin blocks are already implemented in Bitcoin XT
[2016-01-29 00:25:26] sleger : M16 needs big adjustment
[2016-01-29 00:26:54] micmix : BitMEX, maybe switch M16 to impact mid price, same as H16?
[2016-01-29 00:26:55] tscha : BitMEX_Sam: interesting, but I don't understand why it improves scalability. latency yes, but scalability? we still have to get the blocks to all nodes.
[2016-01-29 00:28:04] tscha : >All proposals that are on the table so far, however, suffer from a fundamental scalability bottleneck: no matter what block size is chosen, the system can at best achieve a modest transaction throughput, rising from ~3 transactions per second to ~6 transactions per second if the block size is doubled
[2016-01-29 00:28:12] tscha : >We have developed a next-generation blockchain protocol, called Bitcoin-NG for short, that eliminates the scalability limits described above.
[2016-01-29 00:33:07] tscha : I haven't read the whitepaper so I am not sure I fully understood it, but *in the end*, the blocks still have to get transmitted to all nodes right? So it doesn't remove the contraint. @BitMEX_Sam
[2016-01-29 00:35:44] rapidtrades : how's it going fellas?
[2016-01-29 00:36:34] habibi : big short in progress
[2016-01-29 00:36:50] tscha : Side-chains on the other hand definitely add additional scalability value, looking forward to them - as long as they evolve naturally due to technical constraints and users don't get pushed onto them artificially
[2016-01-29 00:38:07] REKT : Liquidated long on `XBT24H`: Sell 750 @ 373.98
[2016-01-29 00:38:57] REKT : Liquidated long on `XBTH16`: Sell 1000 @ 408.23
[2016-01-29 00:39:37] REKT : Liquidated long on `XBT7D`: Sell 58261 @ 370.13 **EPIC REKT** :unamused: :confounded: :astonished:
[2016-01-29 00:40:37] REKT : Liquidated long on `XBTM16`: Sell 5435 @ 502.88
[2016-01-29 00:40:57] REKT : :roller_coaster: :chart_with_downwards_trend: :japanese_goblin:
[2016-01-29 00:40:57] REKT : Liquidated long on `XBT24H`: Sell 256207 @ 366.56 **REKTosaurus** :cry: :gun: :skull:
[2016-01-29 00:41:04] Strobelov : holy carp
[2016-01-29 00:41:04] habibi : woooooooow
[2016-01-29 00:41:05] habibi : :D
[2016-01-29 00:41:15] macios15 : 250k dead
[2016-01-29 00:41:17] macios15 : hahaha
[2016-01-29 00:41:20] habibi : niceeeeee
[2016-01-29 00:41:27] tscha : new record btw
[2016-01-29 00:41:27] habibi : long live dpe
[2016-01-29 00:41:28] habibi : :/
[2016-01-29 00:41:28] macios15 : buahahahahah
[2016-01-29 00:41:32] gartan : now what happens
[2016-01-29 00:42:17] habibi : about 50 btc lost
[2016-01-29 00:42:21] macios15 : very nice closed 250% lol
[2016-01-29 00:42:43] Strobelov : nice
[2016-01-29 00:42:59] sleger : bought 90k of that thanks
[2016-01-29 00:43:07] macios15 : i think dump is not over
[2016-01-29 00:43:36] lockhedge : dump was initiated at finex?
[2016-01-29 00:43:48] ayy lmao : I got in 12k
[2016-01-29 00:43:59] ayy lmao : Rekt in peace
[2016-01-29 00:44:12] habibi : 12k contracts or usd?
[2016-01-29 00:44:20] ayy lmao : i dont think dump is over but i had to close into that lmao
[2016-01-29 00:44:27] ayy lmao : contracts
[2016-01-29 00:48:03] Strobelov : 3-day MA looks like it's going to cross.
[2016-01-29 00:48:18] REKT : Liquidated long on `XBTM16`: Sell 7920 @ 500.49
[2016-01-29 00:48:28] REKT : Liquidated long on `XBTH16`: Sell 55 @ 402.59
[2016-01-29 00:48:28] REKT : Liquidated long on `XBTH16`: Sell 9550 @ 402.53
[2016-01-29 00:49:00] macios15 : Strobelov: jep, big dump
[2016-01-29 00:49:08] REKT : Liquidated long on `XBTH16`: Sell 5500 @ 400.53
[2016-01-29 00:50:08] REKT : Liquidated long on `XBTM16`: Sell 18400 @ 498.06 **MEGA-REKT** :boom:
[2016-01-29 00:50:27] macios15 : no dpe, nice
[2016-01-29 00:50:48] rapidtrades : there will be if price continues down
[2016-01-29 00:50:50] sleger : the liq orders are opened !
[2016-01-29 00:52:18] REKT : Liquidated short on `XBT24H`: Buy 2300 @ 366.82
[2016-01-29 00:52:18] REKT : Liquidated short on `XBT24H`: Buy 30 @ 366.76
[2016-01-29 00:53:21] Strobelov : heh, put in a small short for funzies and got liquidated almost immediately
[2016-01-29 00:53:43] habibi : so funniez
[2016-01-29 00:53:44] habibi : :D
[2016-01-29 00:56:25] Strobelov : I'm not ballsy enough to touch the 24H until this dies down :)
[2016-01-29 00:56:30] ayy lmao : are u on isolated margin?
[2016-01-29 00:56:52] Strobelov : I'm not in anything right now
[2016-01-29 00:57:59] macios15 : guys its going down again
[2016-01-29 00:58:07] rapidtrades : no shit
[2016-01-29 00:58:13] Strobelov : it's gonna be doing that a lot :)
[2016-01-29 00:58:15] habibi : sherlock <3
[2016-01-29 00:59:02] gartan : 330
[2016-01-29 01:00:18] greensonic_04 : Long or short
[2016-01-29 01:00:27] habibi : let it die
[2016-01-29 01:00:32] habibi : so long :>
[2016-01-29 01:01:32] macios15 : never ending story https://www.youtube.com/watch?v=bNPJuJSVmNA
[2016-01-29 01:03:10] rapidtrades : *single tear for bitcorn
[2016-01-29 01:04:30] Strobelov : _dive, dive dive!_
[2016-01-29 01:10:17] habibi : BitMEX_Sam: when does this session ends?
[2016-01-29 01:11:33] sleger : sessions are 8 hours
[2016-01-29 01:12:04] habibi : starting from 12:00 utc?
[2016-01-29 01:12:13] sleger : from settlement
[2016-01-29 01:17:17] habibi : micmix: no guiness book record noticed at rekt bot :P
[2016-01-29 01:22:00] rapidtrades : will we see $350 today?
[2016-01-29 01:36:10] macios15 : rapidtrades: https://youtu.be/HoFqV3qVMGA?t=10m8s
[2016-01-29 01:41:51] micmix : habibi: yep, new REKT record 256k, previous was 220k
[2016-01-29 01:43:25] rapidtrades : is it safe to have my dinner now? cos I feel NOT SAF
[2016-01-29 01:43:31] rapidtrades : *E
[2016-01-29 01:44:04] Strobelov : NO FOOD FOR YOU
[2016-01-29 01:44:16] habibi : go on man
[2016-01-29 01:44:20] macios15 : micmix: i saw more i think, u mean this year?
[2016-01-29 01:44:22] habibi : this is bitcoin, nothing will happen
[2016-01-29 01:44:35] habibi : macios15: more means?
[2016-01-29 01:45:04] macios15 : 250k at least
[2016-01-29 01:45:27] habibi : 256k>250k
[2016-01-29 01:45:38] macios15 : he said 220k
[2016-01-29 01:46:08] habibi : ah k
[2016-01-29 01:50:52] rapidtrades : this doesn't feel like a bottom tbh....not even until settlement
[2016-01-29 01:51:24] rapidtrades : yessss...LIQ gone on 6m
[2016-01-29 01:55:33] j8 : wasn't there one for over 300k, that day with big DPE
[2016-01-29 01:56:57] habibi : yea from 480 to even 400 here :D
[2016-01-29 02:01:57] tscha : great time to short imho
[2016-01-29 02:02:35] habibi : too much acumulation here imo, i would expect bigger push first even before okc settlement
[2016-01-29 02:11:10] REKT : Have a bowl of chop-chop suey!
[2016-01-29 02:11:10] REKT : Liquidated short on `XBT24H`: Buy 1639 @ 369.96
[2016-01-29 02:18:16] tscha : LOL, Blockstream just announced partnership with PwC, one of the Top4-auditors in the world... that was probably what caused the price drop
[2016-01-29 02:25:40] REKT : Liquidated long on `XBT24H`: Sell 1485 @ 368.10
[2016-01-29 02:25:41] tscha : this is going to get extremely ugly the next months
[2016-01-29 02:26:39] habibi : tscha: whats the actual impact of blockstream to the btc?
[2016-01-29 02:27:02] tscha : habibi: blockstream develops the bitcoin software
[2016-01-29 02:28:55] tscha : Blockstream is a company founded by Core-Devs, so all the important core-devs are shareholders and employees of that company. They want to make money by selling side-chains, so they keep the blocksize low in order to make on-chain transactions costly and people have to switch to their side-chains, where they collect a fee :)
[2016-01-29 02:29:40] REKT : Liquidated long on `XBT24H`: Sell 239 @ 366.15
[2016-01-29 02:32:41] tscha : People have been suspecting this the last months, but now it's becoming evident to the public.
[2016-01-29 02:35:33] habibi : could u post some evidence links?
[2016-01-29 02:39:55] tscha : habibi: This gives you a good overview. Gregory Maxwell has meanwhile confirmed that their main product is selling fee-based side-chains, so the assumptions in this posts are correct. BTW, Blockstream has 9 core-devs as employees/shareholders https://www.reddit.com/r/btc/comments/42nx74/unmasking_the_blockstream_business_plan/
[2016-01-29 02:52:31] tscha : habibi: btw, blockstream collected $21m from investors
[2016-01-29 02:53:01] habibi : yea that is pretty resonable theory
[2016-01-29 02:55:26] tscha : habibi: sickest thing is that a Blockstream Core-Tech-Engineer actually proposed changing the license of Bitcoin-Core to prevent Gavin Andresen using any code https://www.reddit.com/r/btc/comments/42j4px/til_that_blockstream_coretechengineer_patrick/
[2016-01-29 02:56:07] habibi : tscha: gavin? what about all forks? litecoin and every other?
[2016-01-29 02:57:04] tscha : habibi: he wanted to change the license to block just gavin from using the code... rofl
[2016-01-29 02:57:41] tscha : they were obviously scared he would work on a fork for a blocksize increase, since that harms their business model
[2016-01-29 03:02:31] REKT : Liquidated long on `XBT24H`: Sell 1946 @ 364.96
[2016-01-29 03:02:31] REKT : Liquidated long on `XBT24H`: Sell 1 @ 364.86 :punch: :whale:
[2016-01-29 03:02:41] REKT : Liquidated long on `XBT24H`: Sell 1318 @ 364.58
[2016-01-29 03:08:11] REKT : Liquidated short on `ETH7D`: Buy 250 @ 0.00705
[2016-01-29 03:09:51] REKT : Liquidated long on `XBT7D`: Sell 1500 @ 362.67
[2016-01-29 03:10:11] REKT : Liquidated long on `XBT24H`: Sell 1943 @ 362.10
[2016-01-29 05:36:37] zanza : do we know whos 250k rekt it was?
[2016-01-29 05:36:56] zanza : i have a personal 90k rekt record i believe
[2016-01-29 05:43:04] habibi : someones lost ~50 btc, shit happens man no matter who :p
[2016-01-29 05:43:20] habibi : just was funny to watch that he didnt even tried to close his position ealier :p
[2016-01-29 05:43:54] zanza : 260k margin is only 11 XBT
[2016-01-29 05:44:07] zanza : so that would be the minumum lost
[2016-01-29 05:45:05] habibi : he opened his position around 384
[2016-01-29 05:45:08] habibi : after settlement
[2016-01-29 05:45:17] zanza : yeah, considering accumulation, I would say 30 XBT minimum
[2016-01-29 05:45:35] habibi : http://scr.hu/9xvi/pscaf
[2016-01-29 05:45:39] zanza : he could have averaged 375
[2016-01-29 05:45:40] habibi : +- few btc imo
[2016-01-29 05:45:58] zanza : its possible, you are giving the max possible he lost
[2016-01-29 05:46:31] habibi : margin is way ealier than -1% 100x
[2016-01-29 05:46:39] zanza : so the max 47, the min is (just margin of 11)
[2016-01-29 05:46:47] zanza : so between 11-47
[2016-01-29 05:46:54] habibi : 11 would be on isolated
[2016-01-29 05:46:56] habibi : right?
[2016-01-29 05:47:05] zanza : or his entire account was maxxed :)
[2016-01-29 05:47:05] habibi : at it would be done muuuch ealier
[2016-01-29 05:47:09] laisee : a few less lap dances either way ...
[2016-01-29 05:47:44] zanza : gotta roll with punches, win some lose some
[2016-01-29 05:47:54] zanza : it does hurt though
[2016-01-29 05:48:09] habibi : anyway i bet that was the guy who was opening positions like mad making 3$ premium at 384-385
[2016-01-29 05:48:32] habibi : and he stopped at some point so premium was slowly decreasing
[2016-01-29 05:49:11] zanza : most likey he tried to catch the knife also
[2016-01-29 05:49:12] laisee : maybe thought Bitmex could be moved, but market said NO.
[2016-01-29 05:49:29] habibi : zanza: he wasnt catching any knives lel
[2016-01-29 05:49:31] habibi : when? ;p
[2016-01-29 05:50:05] habibi : there were conts open interest at 280->~300k
[2016-01-29 05:51:34] habibi : anyway 250k... thats quite nice position :)
[2016-01-29 05:53:05] MarketQ : ETH is moving up on poloniex and down on kraken
[2016-01-29 06:06:20] dorothy490 : what is that calculator
[2016-01-29 06:12:15] habibi : usable only by mankind
[2016-01-29 06:12:25] habibi : sorry;(
[2016-01-29 06:29:17] REKT : Liquidated short on `XBT24H`: Buy 10000 @ 370.66
[2016-01-29 06:33:07] REKT : Liquidated short on `XBT24H`: Buy 13834 @ 371.88
[2016-01-29 06:34:07] REKT : Liquidated short on `XBT24H`: Buy 11500 @ 372.75
[2016-01-29 06:34:47] REKT : Liquidated short on `XBT7D`: Buy 700 @ 372.14
[2016-01-29 06:56:36] zanza : wow, so big liq's
[2016-01-29 08:14:03] MarketQ : There are not enough traders using this site
[2016-01-29 08:14:44] MarketQ : I mean Bitmex could be amazing with huge capital influx and a few tweaks to their platform
[2016-01-29 08:19:04] MarketQ : Price on poloniex is Lowest Ask:0.00695994 BTC
[2016-01-29 08:19:12] MarketQ : for eth
[2016-01-29 09:51:02] REKT : Liquidated short on `XBT24H`: Buy 2596 @ 376.13
[2016-01-29 09:51:02] REKT : Liquidated short on `XBT24H`: Buy 6000 @ 375.58
[2016-01-29 09:51:12] REKT : Liquidated short on `XBT7D`: Buy 900 @ 376.22
[2016-01-29 09:51:32] REKT : Liquidated short on `XBT24H`: Buy 14000 @ 378.91
[2016-01-29 09:53:00] elmorte : All aboard the choo choo train!!
[2016-01-29 10:19:02] REKT : Liquidated short on `XBTH16`: Buy 500 @ 415.11
[2016-01-29 10:19:22] REKT : Liquidated short on `XBT24H`: Buy 21231 @ 382.28 **MEGA-REKT** :boom:
[2016-01-29 10:37:56] zanza : wow
[2016-01-29 10:37:58] zanza : crazy day
[2016-01-29 10:41:46] rapidtrades : ya
[2016-01-29 10:46:43] REKT : Liquidated long on `XBT24H`: Sell 500 @ 380.95
[2016-01-29 10:52:49] dorothy490 : jesus
[2016-01-29 10:53:02] dorothy490 : btc is rigged
[2016-01-29 11:11:15] arbitrage001 : how so
[2016-01-29 11:13:08] HowDoge : *grabs popcorn"
[2016-01-29 11:20:51] Strobelov : Who's the asshole filling up the order book with single-contract orders?
[2016-01-29 11:23:17] tscha : Strobelov: it's most likely sleger again, our community-jerk
[2016-01-29 11:24:14] Strobelov : ah
[2016-01-29 13:04:07] REKT : Liquidated long on `XBT24H`: Sell 1 @ 379.75 :punch: :whale:
[2016-01-29 13:25:17] sleger : tscha: it's not me and keep names for yourself moron
[2016-01-29 13:25:48] sleger : remember when 12 hours ago you told everyone it was a perfect time to short and the price was 366 on bitfinex ?
[2016-01-29 13:30:37] sleger : everyone can see it in the archive : "tscha : great time to short imho"
[2016-01-29 13:31:21] tscha : sleger: I made 0.3 btc on that short
[2016-01-29 13:31:49] tscha : price dropped $5 after I said that, you can look it up
[2016-01-29 13:32:31] sleger : 0.3btc wow ... lol
[2016-01-29 13:34:38] tscha : chatlog says my quote was at 03:01, price was 367.92, at 04:10 it was <362 ;) never said to hold it until settlement, just expected another afterdrop which also ocurred ;)
[2016-01-29 13:35:38] Strobelov : I shorted around the same price and dozed off before closing. Whoops.
[2016-01-29 13:36:19] sleger : oh ok i can do like tscha too : i predict that the price will be lower than it is now, at some time in the future, but I also predict it will be higher at some time in the future.
[2016-01-29 13:36:21] tscha : Strobelov: ouch. sleeping with an open position on a market like this is very risk.
[2016-01-29 13:36:29] Strobelov : Woke up around 1am, price had climbed like $10. "oh, that's just the pre-OkC settlement pump, it'll fall back down by morning." Nope.
[2016-01-29 13:36:29] sleger : I'll let you know tomorrow when these times will be
[2016-01-29 13:37:05] Strobelov : tscha: yeah, it wasn't intentional; fell asleep on the sofa ;)
[2016-01-29 13:37:19] tscha : sleger: I said "good time to short", and immediately after that, the price was $5 down :)
[2016-01-29 13:37:30] Strobelov : it was a small short, only lost something like 0.3-0.4 btc
[2016-01-29 13:38:16] Strobelov : made some money on regular (non-future) trading, though, so all good.
[2016-01-29 13:38:34] sleger : tscha: It's ok you made a terrible call in the chat, you clearly said that it's going to drop much further
[2016-01-29 13:39:01] tscha : sleger: stop making up things, it's making you look so ridiculous :D
[2016-01-29 13:39:54] tscha : >[2016-01-29 02:01:57 UTC] tscha : great time to short imho
[2016-01-29 13:40:11] sleger : interesting that you didnt say a few min later that it was a great time to close that short....
[2016-01-29 13:40:22] tscha : one hour later I cashed in my profits on that trade and now you want to make it look like a bad call because 12 hours later, the price is higher
[2016-01-29 13:41:19] sleger : if you had said it it would have been possible to believe
[2016-01-29 13:42:01] tscha : What if I told you.. that I don't care if you believe me? :D
[2016-01-29 13:43:55] tscha : Strobelov: you trade spot btc? or other things?
[2016-01-29 13:44:09] Strobelov : yes, btc
[2016-01-29 13:44:10] sleger : if he's here probably futures
[2016-01-29 13:44:22] Strobelov : I only trade small amounts here
[2016-01-29 13:44:24] tscha : Strobelov: where if I may ask?
[2016-01-29 13:44:59] Strobelov : coinbase
[2016-01-29 14:11:13] arbitrage001 : still shorting 20k contract
[2016-01-29 14:11:24] arbitrage001 : everything looking good from here
[2016-01-29 14:20:09] REKT : Liquidated short on `XBT24H`: Buy 1 @ 379.17 :punch: :whale:
[2016-01-29 14:53:28] sleger : tscha: you want to know what profit is : XBT24H Buy 45000 45000 0 364.70 XBT24H Buy 44920 45000 0 364.70 (that was the large liq order price) held until settlement : XBT24H Sell 74375 74375 0 383.06 (yes settlement size is a bit lower because i was sold some along the way up)
[2016-01-29 14:53:57] tscha : sleger: i am proud of you!!!! wow!!!!
[2016-01-29 14:54:18] tscha : sadly, you never post your losses though :(
[2016-01-29 14:55:46] sleger : there you go : XBT24H 9000 380.20 XBT7D 14000 380.64 (-0.5btc unrealized)
[2016-01-29 14:56:17] sleger : on the other hand I realized over 50btc of pnl on H16 and M16
[2016-01-29 14:56:30] Strobelov : Nice.
[2016-01-29 14:57:00] sleger : Actually, I did not realize them sorry, the system did at settlement, the positions are still open
[2016-01-29 14:57:36] tscha : what about the two months you were losing straight?
[2016-01-29 14:57:48] sleger : never happened ???
[2016-01-29 14:58:07] tscha : you said it yourself, you had 2 months of -pnl a year ago
[2016-01-29 14:58:31] sleger : oh over a year ago yes, but it is more than recovered, since the drawdown by definition just means that
[2016-01-29 14:58:55] sleger : It cant just go up in a straight line without a losing day right...
[2016-01-29 14:59:29] tscha : well, 2 months is not a day
[2016-01-29 14:59:51] arbitrage001 : slegar is a whale
[2016-01-29 15:00:05] sleger : no indeed, but if you remember that story you may also remember why
[2016-01-29 15:00:06] arbitrage001 : pointless to argue to us little fishes here
[2016-01-29 15:00:17] sleger : I slept through a settlement where I had a 3k btc position...
[2016-01-29 15:00:27] tscha : arbitrage001: we know he fell into a bag of coins, that doesn't make him a good trader though
[2016-01-29 15:00:38] sleger : my pnl does though
[2016-01-29 15:01:37] arbitrage001 : sleger thought process can be easily reconized as a good trader by any experience traders
[2016-01-29 15:02:12] arbitrage001 : the other guy, rapidsomething
[2016-01-29 15:02:21] arbitrage001 : just about anyone can tell he is a newbie
[2016-01-29 15:03:36] sleger : The problem is that since Arthur started his seminars, everyone here now think they are so smart and experienced, and justify everything because "quanto", magic word
[2016-01-29 15:06:24] arbitrage001 : used to short future contract on icbit
[2016-01-29 15:06:36] arbitrage001 : stop doing that for a while when the volume dry up
[2016-01-29 15:06:45] arbitrage001 : and spread is too wide
[2016-01-29 15:07:02] arbitrage001 : okc settlement is flawed in my opinion
[2016-01-29 15:07:10] arbitrage001 : so i stop tradin there as well
[2016-01-29 15:10:00] sleger : arbitrage001: what dont you like with okc settlement ?
[2016-01-29 15:10:32] sleger : icbit / orderbook I also traded there big time but quit a while ago, volume died, risk of "hack"/default...
[2016-01-29 15:10:38] arbitrage001 : it is based on last hour of trade on okc alone
[2016-01-29 15:10:49] arbitrage001 : easily manipulated
[2016-01-29 15:11:09] zanza : okc is a pretty big market tho
[2016-01-29 15:11:38] arbitrage001 : and future settlement price on okc has nothing gto do with spot price
[2016-01-29 15:11:53] arbitrage001 : on the same exchange
[2016-01-29 15:12:13] arbitrage001 : make 0 sense
[2016-01-29 15:12:43] j8 : it's 1/6 weighted. makes a little sense
[2016-01-29 15:12:44] sleger : yes but settlement is not that important, that is not how delivery price works
[2016-01-29 15:12:56] sleger : j8: no : settlement and delivery is not the same thing
[2016-01-29 15:13:12] j8 : "delivery" doesn't really happen though
[2016-01-29 15:13:15] sleger : "How is settlement price chosen? The system takes the last completed transaction price as the settlement price."
[2016-01-29 15:13:31] sleger : j8: they call it delivery
[2016-01-29 15:13:45] arbitrage001 : just average price of last hour future trading price
[2016-01-29 15:13:47] j8 : settlement there is called rebalance here right?
[2016-01-29 15:14:12] arbitrage001 : sorry, i should use the word deliver price
[2016-01-29 15:14:40] REKT : Liquidated short on `XBT24H`: Buy 100 @ 378.89
[2016-01-29 15:17:38] sleger : arbitrage001: thats incorrect
[2016-01-29 15:17:41] sleger : "1.At the time of delivery, the system will execute to close the positions on all opened weekly futures. The price will be the arithmetic mean value of the index of the preceding one hour before delivery."
[2016-01-29 15:17:47] sleger : "the INDEX"
[2016-01-29 15:18:27] sleger : otherwise it would be a pure gaming fun at settlement, prices would go crazy and biggest whale would win, it would be absurd
[2016-01-29 15:19:09] arbitrage001 : that is indeed what happened before
[2016-01-29 15:19:18] arbitrage001 : when i traded there a few months ago
[2016-01-29 15:19:44] sleger : AFAIK the delivery price has always been an average of the index. And I have traded there since futures started
[2016-01-29 15:21:15] arbitrage001 : where is the "index" price derived from?
[2016-01-29 15:21:21] arbitrage001 : on okc
[2016-01-29 15:21:39] sleger : avg of 6 spot exchanges
[2016-01-29 15:22:06] arbitrage001 : i feel safer trading here on bitmex
[2016-01-29 15:22:08] sleger : https://www. kc name .com/future/querylevelRate.do
[2016-01-29 15:22:34] sleger : its exactly the same process though, average of some index
[2016-01-29 15:23:21] arbitrage001 : given the high leverage here, i can store 70% of my coin at elsewhere
[2016-01-29 15:24:01] arbitrage001 : only rebalance the wallet on major move
[2016-01-29 15:26:40] sleger : ok, but this has nothing to do with the delivery price
[2016-01-29 15:26:52] arbitrage001 : maybe i made mistake
[2016-01-29 15:26:55] arbitrage001 : yes
[2016-01-29 15:27:45] arbitrage001 : must be making a major killing arbitraging on future on both exchanges
[2016-01-29 15:28:21] arbitrage001 : last year, most of my profit was arbitraging between bitfinex and btcchina spot price
[2016-01-29 15:42:41] REKT : Liquidated short on `XBT24H`: Buy 1828 @ 379.76
[2016-01-29 17:11:43] REKT : Liquidated long on `ETH7D`: Sell 281 @ 0.00621
[2016-01-29 17:26:23] rapidtrades : how's it going fellas?
[2016-01-29 17:26:52] BitMEX_Sam : Good... lots of code today
[2016-01-29 17:26:59] BitMEX_Sam : Working to get our new features out soon
[2016-01-29 17:27:52] rapidtrades : great
[2016-01-29 17:29:28] j8 : BitMEX_Sam: playing around with batch orders + amend on testnet, pretty slick
[2016-01-29 17:29:46] BitMEX_Sam : Yeah I think it's going to make a solid difference
[2016-01-29 17:30:01] BitMEX_Sam : At the very least, market makers won't have to cancel and replace which means way better coverage
[2016-01-29 17:30:29] BitMEX_Sam : But coding with bulk place/amend is just easier, too. The whole command fails if one of the members fails a risk check
[2016-01-29 17:30:56] j8 : yeah it is way cleaner
[2016-01-29 17:31:31] sleger : did you document somewhere what happens when there is a fill around the time of an amend price on an order, does the system replace just the open size or ... ?
[2016-01-29 17:32:00] tscha : it's all atomic
[2016-01-29 17:32:01] BitMEX_Sam : You amend price, qty, or leavesQty separately or together
[2016-01-29 17:32:45] BitMEX_Sam : This is how we implement usage in the mm bot example: https://github.com/BitMEX/market-maker/blob/master/market_maker/market_maker.py#L337
[2016-01-29 17:33:05] sleger : if my order was open for 6k, it gets filled for 3k, and i send an amend with size 6k still, whats the new open size ?
[2016-01-29 17:33:41] BitMEX_Sam : sleger: Depends on what you sent. It's the same order, if you don't amend the qty, the open size will still be 3k
[2016-01-29 17:33:47] BitMEX_Sam : See https://testnet.bitmex.com/api/explorer/#!/Order/Order_amend
[2016-01-29 17:34:05] BitMEX_Sam : So if you sent `{"orderQty": 6000}`, the open size would remain 3k
[2016-01-29 17:34:17] sleger : ok sounds good
[2016-01-29 17:34:18] BitMEX_Sam : But if you sent `{"leavesQty": 6000}`, the open size would be 6k