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 
[2015-06-03 12:13:25] goat : before okc runs our or tries to exit scam
[2015-06-03 12:13:31] goat : because we dont need another gox, that would be really bad
[2015-06-03 12:13:41] goat : and i sent all of my research so far to zerohedge
[2015-06-03 12:13:45] goat : so maybe they can help too
[2015-06-03 12:13:49] Kweejee : okcasino better buckleup
[2015-06-03 12:13:54] Kweejee : they ridin dirty
[2015-06-03 12:15:00] goat : they are just so redic
[2015-06-03 12:15:14] cengel : you should send to Bloomberg or WSJ
[2015-06-03 12:15:17] cengel : zerohedge is kind of a joke
[2015-06-03 12:15:18] goat : the number 1 rule of the situation they are in is keep your mouth shut
[2015-06-03 12:15:20] BitMEX_Sam : cengel: It does, see e.g. the settlements for XBU24H and BVOL24H
[2015-06-03 12:15:30] goat : and if they had to say anything, it should be through a lawyer
[2015-06-03 12:15:39] goat : cengel: good idea, im going to email them right now
[2015-06-03 12:15:42] goat : and forbes too
[2015-06-03 12:17:02] cengel : Sam, i guess i had to refresh my bad
[2015-06-03 12:17:30] goat : i also have some really interesting info im tracking through the blockchain
[2015-06-03 12:17:45] goat : someone that i know was sellign coins for 30% over stamp spot price on local btc
[2015-06-03 12:17:57] goat : and looking through the wallet addresses is fucking weird
[2015-06-03 12:18:23] goat : some of them you can track to exchanges hot wallets, and large coin transactions align perfectly with a dump after a few transactions
[2015-06-03 12:18:32] goat : so i was thinking about setting up some kind of alarm to monitor those addresses
[2015-06-03 12:18:52] BitMEX_Sam : Wow that is odd
[2015-06-03 12:19:11] goat : yeah
[2015-06-03 12:20:01] BitMEX_Sam : ofc being linked to an exchange hot doesn't mean much; lots of coins go through there
[2015-06-03 12:20:08] BitMEX_Sam : but the price is odd. why such a premium
[2015-06-03 12:20:12] goat : yeah of course
[2015-06-03 12:20:14] goat : exactly
[2015-06-03 12:20:26] goat : i should have looked into this forever ago, my friend sent me the address months ago
[2015-06-03 12:20:35] goat : and im still cleaning out my inbox from january lol
[2015-06-03 12:23:27] goat : this is one of them that was linked to his.. on my list of things to research - http://btc.blockr.io/address/info/1CvBmeNZY7wgg5fyxfNd6vJzHN6EyhrHPs
[2015-06-03 12:24:54] BitMEX_Sam : interesting, just cleared out
[2015-06-03 12:25:13] BitMEX_Sam : Actually kind of looks like a wash addr
[2015-06-03 12:25:48] BitMEX_Sam : There's a loose monthly pattern there
[2015-06-03 12:25:52] goat : it looks like those are going to multi sig
[2015-06-03 12:25:59] goat : hold on let me get you the other info
[2015-06-03 12:26:42] BitMEX_Sam : Ah yeah. I see that
[2015-06-03 12:26:51] BitMEX_Sam : Seems to be washing out to `3` p2sh addrs
[2015-06-03 12:27:04] goat : this is one of the addresses that my friend was sending to - http://btc.blockr.io/address/info/1K5Kdqi5xJNG4G83s8sWu8vsZtRSiF7zL9
[2015-06-03 12:27:18] goat : those can be traced to a btce wallet
[2015-06-03 12:27:29] goat : but go to the first transaction to that address and go back one step
[2015-06-03 12:27:33] goat : the one for .0001 btc
[2015-06-03 12:28:01] goat : which brings up this - http://btc.blockr.io/tx/info/f68b454a4d726f5188aeaa842460b915b6ca0c4cc431bb2d5fad7a32f93d315f
[2015-06-03 12:28:18] goat : so presumably, the same person was sending .0001 btc to all of those addresses to confirm they were working
[2015-06-03 12:29:17] cengel : if two people have bids at the same price, how does the engine determine who gets filled first ?
[2015-06-03 12:29:30] goat : fifo i think
[2015-06-03 12:29:33] BitMEX_Sam : yep
[2015-06-03 12:29:34] goat : from my experience here
[2015-06-03 12:29:39] goat : fucking bfx used to lifo
[2015-06-03 12:29:43] BitMEX_Sam : that's awful
[2015-06-03 12:29:43] goat : so annoying
[2015-06-03 12:29:50] BitMEX_Sam : So you have to replace orders all day if you're market making
[2015-06-03 12:29:56] goat : yeah i would place a bid, someone would place over it and iw ould have to reset
[2015-06-03 12:29:58] goat : yep
[2015-06-03 12:29:59] goat : so annoying
[2015-06-03 12:30:02] goat : but they fixed it now
[2015-06-03 12:30:05] BitMEX_Sam : that's good
[2015-06-03 12:30:08] BitMEX_Sam : part of alphapoint or earlier?
[2015-06-03 12:30:41] goat : way earlier
[2015-06-03 12:30:54] goat : it used to be like that a year ago or more
[2015-06-03 12:31:10] goat : they fixed it a few months to a year ago
[2015-06-03 12:36:31] goat : looks like the bfx market maker is being much less aggressive today
[2015-06-03 12:38:04] BitMEX_Sam : that must have been a holdout from the old code
[2015-06-03 12:38:16] goat : the lifo/fifo thing?
[2015-06-03 12:39:13] BitMEX_Sam : Yeah
[2015-06-03 12:39:41] BitMEX_Sam : Wasn't some of the bfx codebase based on an earlier defunct exchange
[2015-06-03 12:39:56] goat : yeah bitcoinica
[2015-06-03 12:40:01] goat : or however you spell it
[2015-06-03 12:40:07] BitMEX_Sam : That's the one
[2015-06-03 12:40:09] BitMEX_Sam : Couldn't remember the name
[2015-06-03 12:40:19] BitMEX_Sam : Unfortunately some of the bugs came with
[2015-06-03 12:40:52] BitMEX_Wally : The order matching engine was probably built by someone without financial experience. It goes price then time priority in nearly every major market.
[2015-06-03 12:41:05] goat : it was made by a 16 year old lol
[2015-06-03 12:41:07] goat : supposedly
[2015-06-03 12:41:11] BitMEX_Sam : That sounds like bitcoinica
[2015-06-03 12:41:13] goat : then they modified the code
[2015-06-03 12:41:43] BitMEX_Sam : I think they lost more coins than just about anyone other than gox
[2015-06-03 12:41:56] goat : lol
[2015-06-03 12:41:58] goat : hilarious
[2015-06-03 12:42:35] BitMEX_Sam : Not if you had &btc; there... exchanges have such a rough history
[2015-06-03 12:43:15] goat : i agreed with that
[2015-06-03 12:43:23] goat : its just funny it was made by a 16 year old
[2015-06-03 12:43:42] cengel : FIFO is legit
[2015-06-03 12:44:31] BitMEX_Sam : That's how it has to be
[2015-06-03 12:45:14] goat : otherwise there is no incetive for people to keep the order book full
[2015-06-03 12:45:18] goat : and it looks like you have shit liquidity
[2015-06-03 12:46:12] goat : lol looks like virtu is having some fun with USDEUR during this draghi speech
[2015-06-03 13:27:02] Kweejee : wheres da volume
[2015-06-03 13:28:36] BitMEX_Sam : volatility slowing down a bit
[2015-06-03 13:37:03] ilikepies69 : is it me or has there been an increase in bids and ask stacking in the last 2 hrs across board?
[2015-06-03 13:38:02] BitMEX_Sam : ilikepies69: Yes, there has been an increase
[2015-06-03 13:44:30] Kweejee : BitMEX_Sam: serious issue
[2015-06-03 13:44:36] Kweejee : trying to withdrawl a small amount
[2015-06-03 13:44:37] BitMEX_Sam : What's up?
[2015-06-03 13:44:39] Kweejee : and i get Sorry, an error occurred. Please try again
[2015-06-03 13:44:48] Kweejee : when clicking the confirmation link sent to my email
[2015-06-03 13:44:48] BitMEX_Sam : Hmm let me check the logs
[2015-06-03 13:44:52] BitMEX_Sam : Ok
[2015-06-03 13:44:55] Kweejee : the balance is deducted
[2015-06-03 13:45:00] BitMEX_Sam : Thanks for letting me know. I'll make sure it goes through
[2015-06-03 13:45:04] BitMEX_Sam : Don't worry the bitcoin is always still there
[2015-06-03 13:45:21] Kweejee : Oh I know, I trust the system completely
[2015-06-03 13:45:29] Kweejee : Just the confirmation email led to an error
[2015-06-03 13:45:32] Kweejee : No worries at all!
[2015-06-03 13:55:03] Kweejee : still nothing showing on the blockchain
[2015-06-03 13:55:08] ilikepies69 : BitMEX_Sam: cool re: order increase, lets hope its not just one mm ; D
[2015-06-03 13:55:51] BitMEX_Sam : Kweejee: pushing it through shortly
[2015-06-03 13:55:59] BitMEX_Sam : We're signing
[2015-06-03 13:56:31] Kweejee : gunna miss this forex trade :x
[2015-06-03 13:57:01] BitMEX_Sam : Sorry - usually withdrawals only process at 12 GMT anyhow
[2015-06-03 13:57:03] BitMEX_Sam : Hope you were aware of that
[2015-06-03 13:57:35] BitMEX_Sam : Kweejee: Just hit the blockchain
[2015-06-03 13:58:25] Kweejee : BitMEX_Sam: I didn't notice that until now, thanks for pointing it out
[2015-06-03 13:58:41] BitMEX_Sam : It's a security matter. We handle all withdrawals by hand and offline
[2015-06-03 13:58:58] BitMEX_Sam : We have seen too many exchanges lose customer money this way to hook any wallets up to live servers
[2015-06-03 13:59:41] BitMEX_Sam : In the future we will deploy a hybrid system that will allow withdrawals to go through quicker based on amount / volume, but in essence the faster your withdrawal is the more chance that something can go wrong
[2015-06-03 14:36:02] Kweejee : meh trading bvol is pointless
[2015-06-03 14:36:03] Kweejee : right now
[2015-06-03 14:36:37] Kweejee : bid/ask wayyy out of wack
[2015-06-03 14:36:50] BitMEX_Arthur : make it tighter :)
[2015-06-03 14:37:33] Kweejee : why the hell would anyone buy 2.49 on the ask
[2015-06-03 14:37:39] Kweejee : no open interest, no bag holders to buy from
[2015-06-03 14:38:23] BitMEX_Wally : Someone might get liquidated
[2015-06-03 14:38:51] Kweejee : until then, sitting and waiting :P
[2015-06-03 14:40:22] cengel : but youre thinking only about holding to settlement
[2015-06-03 14:45:37] Kweejee : I don't see the risk/reward paying off buying 2.49
[2015-06-03 14:46:03] Kweejee : Or anything sub 1.90
[2015-06-03 14:46:32] BitMEX_Arthur : then i guess u should hit the bid
[2015-06-03 14:47:37] Kweejee : but then i'd have to buy back at a better cost ;)
[2015-06-03 14:47:42] Kweejee : screwed both ways
[2015-06-03 14:47:58] BitMEX_Arthur : or wait until expiry
[2015-06-03 14:48:03] Kweejee : a better entry will come
[2015-06-03 15:05:23] cengel : the first 6-8 hours are awkward to trade
[2015-06-03 15:17:02] Kweejee : yep
[2015-06-03 15:17:07] Kweejee : ive learned that the hard way
[2015-06-03 15:17:08] Kweejee : haha
[2015-06-03 16:44:37] goat : http://shitco.in/2015/06/03/bears-dump-on-bitlicense/
[2015-06-03 17:45:42] goat : http://shitco.in/2015/06/03/the-blockchain-a-double-edged-sword/
[2015-06-03 17:51:05] Swedishnut : Storming so hard here I may lose power... sigh
[2015-06-03 18:25:44] Swedishnut : anyone here looking into NXT dividends and such?
[2015-06-03 18:57:06] cengel : goat, nice
[2015-06-03 19:24:40] goat : are you guys updating the affiliate program to lifetime?
[2015-06-03 19:37:28] BitMEX_Sam : goat: We are still having that discussion internally
[2015-06-03 19:40:50] goat : ok cool :D
[2015-06-03 19:59:56] SnackyCoins : just so it's clear, nobody cares that the 10% discount drops off after 6 months. Hell, make it 3 months if it means lifetime affiliate status
[2015-06-03 20:00:29] SnackyCoins : I signed up to twitter in 2012 and just started using it a month ago
[2015-06-03 20:03:52] Murch : SnackyCoins: New people who sign up probably care. And I care that they care because all that's left for this to become a great exchange is having enough people trading here.
[2015-06-03 20:04:16] BitMEX_Sam : Yeah the 10% carrot is important IMO, affiliates need something to dangle, otherwise users have no reason to click their links
[2015-06-03 20:04:21] BitMEX_Sam : It gives them a way to market as well
[2015-06-03 20:04:40] SnackyCoins : Don't get me wrong i love that it's there absolutely
[2015-06-03 20:04:51] SnackyCoins : its a great conversion surprise
[2015-06-03 20:05:10] SnackyCoins : but I didn't want it misunderstood that "the 10% discount also needs to be lifetime"
[2015-06-03 20:05:16] BitMEX_Sam : Right
[2015-06-03 20:05:21] Murch : And I'm pretty confident that most people who see what this exchange is like after signing up will be blown away. Gotta attract as many as possible! :D
[2015-06-03 20:05:34] SnackyCoins : yeah i mean just place a few trades and you'll love it here
[2015-06-03 20:05:43] BitMEX_Sam : I understand your position on it. We based our program on many other programs we have experience with, the vast majority of which are not lifetime
[2015-06-03 20:06:12] BitMEX_Sam : However we have different requirements and payouts, so I understand 100% where you guys are coming from.
[2015-06-03 20:06:29] BitMEX_Sam : Thanks for the kind words re: the exchange by the way
[2015-06-03 20:06:41] BitMEX_Sam : How do you guys feel about the UI? Is it too complex for you - overwhelming at times?
[2015-06-03 20:06:53] SnackyCoins : It was at first
[2015-06-03 20:08:22] Murch : BitMEX_Sam: No problem, it's worthy of praise. I haven't been too overwhelmed. I was very used to trading at OKC so nothing here feels out of the ordinary.
[2015-06-03 20:08:51] BitMEX_Sam : I've started work on a simplified UI - the existing UI will live on as an "Advanced" mode
[2015-06-03 20:08:58] Murch : I actually like how compact the layout is. I don't have to navigate to many different pages to do what I want.
[2015-06-03 20:09:23] BitMEX_Sam : Yeah, that's the idea. I think traders who trade often like the compact layout, but newcomers just get bombarded by too much information
[2015-06-03 20:09:37] BitMEX_Sam : Not to mention, from non-finance types, we have a lot of confusion about our symbols, like `XBUM15`
[2015-06-03 20:09:48] Murch : Fair enough, having both options seems like a good idea.
[2015-06-03 20:10:27] Murch : I haven't really learned what each means but by having a description next to each in a dropdown I don't have to.
[2015-06-03 20:10:35] Murch : So I really like that.
[2015-06-03 20:11:03] BitMEX_Sam : Right. The month codes are industry-standard but I'll be honest, they can be difficult to remember
[2015-06-03 20:12:19] SnackyCoins : It would be nice if there was a bit more eye leading to important info, like if you widened the center column a little to make the chart & order controls bigger (for noobs). +1 for the tooltips murch they are fantastic here
[2015-06-03 20:12:47] SnackyCoins : but then again noobs (like myself) should probably learn to get with the symbols and info bombardmant
[2015-06-03 20:13:01] SnackyCoins : i mean, what am i doing trading derivitives if i cant
[2015-06-03 20:13:40] BitMEX_Sam : :) That's a good attitude. Unfortunately there are a lot of traders out there who don't know what they are trading
[2015-06-03 20:14:04] cengel : as long as we can still choose to have nothing different I dont protest :)
[2015-06-03 20:14:38] SnackyCoins : I would sincerely hope that the end goal for all crypto traders is to be able to trade "normal" markets as well
[2015-06-03 20:14:40] BitMEX_Sam : cengel: Yeah of course. I love the UI as-is, I don't want to change it.
[2015-06-03 20:14:50] cengel : the month codes are easy for people who trade ES
[2015-06-03 20:14:55] cengel : or any other standard futs
[2015-06-03 20:16:49] cengel : but okay good no change for those who dont want change
[2015-06-03 20:18:11] cengel : are you going to let them do shit like hold concurrent opposite positions?
[2015-06-03 20:18:18] SnackyCoins : Yeah no time needed on the UI ;) plenty of other stuff to do that'd be better
[2015-06-03 20:18:36] SnackyCoins : logged into mobile last night cause my internet went out and it looked great and felt fully functional
[2015-06-03 20:18:41] BitMEX_Sam : cengel: Haha no.
[2015-06-03 20:18:57] BitMEX_Sam : At least not in the same contract of course. The trading logic will not change one bit
[2015-06-03 20:18:59] cengel : they love to do that, they call it "hedging" i shit you not, they don't even know what that word means
[2015-06-03 20:19:12] BitMEX_Sam : Yikes.
[2015-06-03 20:19:39] BitMEX_Sam : SnackyCoins: Yeah this is how I've avoided having to make a mobile app. It is 1000% easier to just make the site responsive and not have to maintain two applications.
[2015-06-03 20:20:17] SnackyCoins : heh i used to do that but i didn't call it that. if i ever feel a "long&short" situation then it is just time to go long BVOL & done
[2015-06-03 20:21:10] cengel : http://www.learningmarkets.com/the-nfa-forex-anti-hedging-rules/
[2015-06-03 20:21:42] cengel : it's only gamblers who think that's not dumb :)
[2015-06-03 20:25:40] SnackyCoins : i see where they're coming from on a consumer protection standpoint
[2015-06-03 20:26:03] SnackyCoins : however OKC "futures" has no interest :)
[2015-06-03 20:27:01] SnackyCoins : combined with 20x and clownshoes movements you could get margin called on your "hedge" and still win (back when btc actually moved more than $5)
[2015-06-03 20:27:25] SnackyCoins : of course 20x is also dumb ;)
[2015-06-03 20:28:04] SnackyCoins : and 200x is just fun :)
[2015-06-03 21:51:50] Murch : Are conditional and other algorithmic type orders in the pipeline?
[2015-06-03 21:54:20] Murch : I don't know about others but being able to use boolean operators would be really helpful for me. Like 'if fair price < X & highest bid > Y then set Z order'
[2015-06-03 22:03:47] BitMEX_Sam : Yeah, there are some more advanced types on the way
[2015-06-03 22:04:06] BitMEX_Sam : We're working on increasing leverage right now, then we will be introducing stops and a few other advanced types
[2015-06-03 22:21:52] Murch : Awesome, looking forward to it.
[2015-06-03 23:10:23] wjschafer : anyone around?
[2015-06-03 23:11:10] BitMEX_Sam : Hey @wjschafer
[2015-06-03 23:11:17] wjschafer : yo
[2015-06-03 23:11:23] wjschafer : just getting going here
[2015-06-03 23:11:30] BitMEX_Sam : Sure, anything I can help with?
[2015-06-03 23:11:30] wjschafer : and pretty noob
[2015-06-03 23:11:53] wjschafer : need some help thinking though some heding
[2015-06-03 23:11:59] wjschafer : hedging*
[2015-06-03 23:12:15] BitMEX_Sam : Sure.
[2015-06-03 23:12:23] wjschafer : so i've built a wallet
[2015-06-03 23:12:23] BitMEX_Sam : Well if you're hedging bitcoin price, XBU is where you want to be.
[2015-06-03 23:12:28] wjschafer : right
[2015-06-03 23:12:46] wjschafer : trying to figure out how to approach the analysis
[2015-06-03 23:13:07] BitMEX_Sam : Okay, go ahead
[2015-06-03 23:13:28] wjschafer : so let's say i've got $50k in BTC that I'm exposed to price fluctuation
[2015-06-03 23:14:08] wjschafer : so i look at historical volatility (I think) and i think it's 15%
[2015-06-03 23:14:10] wjschafer : or rather
[2015-06-03 23:14:43] wjschafer : my biz model wont work if i take a 10% drop
[2015-06-03 23:15:01] wjschafer : so could lose $5k
[2015-06-03 23:15:12] wjschafer : am i good so far in my thinking?
[2015-06-03 23:15:38] BitMEX_Sam : Right
[2015-06-03 23:15:42] wjschafer : so i buy the $50k worth of BTC
[2015-06-03 23:16:02] wjschafer : let's say it's at $100 USD to 1 BTC
[2015-06-03 23:16:15] wjschafer : i'm worried it will go to $90
[2015-06-03 23:16:40] wjschafer : here's where I get confused
[2015-06-03 23:16:45] wjschafer : i sell XBU
[2015-06-03 23:17:11] wjschafer : what price makes sense for me?
[2015-06-03 23:17:18] BitMEX_Arthur : the market price
[2015-06-03 23:17:24] BitMEX_Arthur : as soon as you buy spot bitcoin
[2015-06-03 23:17:31] BitMEX_Arthur : you hedge immediately with a XBU future
[2015-06-03 23:17:37] wjschafer : got that
[2015-06-03 23:17:42] wjschafer : so in your interface
[2015-06-03 23:17:50] wjschafer : Order Controls
[2015-06-03 23:17:56] wjschafer : Price (USD)
[2015-06-03 23:17:58] wjschafer : Sell
[2015-06-03 23:18:05] wjschafer : now 227.4
[2015-06-03 23:18:13] wjschafer : currently
[2015-06-03 23:18:18] wjschafer : I sell $5k worth
[2015-06-03 23:18:25] wjschafer : for example
[2015-06-03 23:18:27] BitMEX_Arthur : let's look at `XBUM15` current Bid is $225
[2015-06-03 23:18:32] wjschafer : right
[2015-06-03 23:18:38] BitMEX_Arthur : for $5k worth of exposure
[2015-06-03 23:18:43] BitMEX_Arthur : you sell 50 contracts
[2015-06-03 23:18:49] BitMEX_Arthur : because each contract is worth $100
[2015-06-03 23:18:50] BitMEX_Arthur : of Bitcoin
[2015-06-03 23:18:53] wjschafer : got it
[2015-06-03 23:19:14] wjschafer : how do i calculate what this will cost me?
[2015-06-03 23:19:29] BitMEX_Arthur : what type of cost?
[2015-06-03 23:20:23] wjschafer : well all in i guess
[2015-06-03 23:20:33] BitMEX_Arthur : so you would pay our exchange fee
[2015-06-03 23:20:36] wjschafer : so let's say in 30 days
[2015-06-03 23:21:01] BitMEX_Arthur : In 30days regardless of where the price is you will have $5k of Bitcoin
[2015-06-03 23:21:12] wjschafer : I need to sell the BTC
[2015-06-03 23:21:28] BitMEX_Arthur : so when you want to un-hedge
[2015-06-03 23:21:33] BitMEX_Arthur : you buy back the futures contract
[2015-06-03 23:21:41] wjschafer : ok
[2015-06-03 23:21:47] BitMEX_Arthur : then your Bitcoin holdings are fully exposed to the market price
[2015-06-03 23:21:48] BitMEX_Arthur : again
[2015-06-03 23:21:57] wjschafer : so buy the XBU
[2015-06-03 23:22:14] wjschafer : and I keep doing that as I'm buying and selling my BTC
[2015-06-03 23:22:19] BitMEX_Arthur : right to lock in the USD value initially, SELL, when you want to spend your Bitcoin then BUY back
[2015-06-03 23:22:20] wjschafer : to put in peoples wallets
[2015-06-03 23:22:25] BitMEX_Arthur : correct
[2015-06-03 23:22:50] wjschafer : and the amount is based on what I think the monthly volatility will be
[2015-06-03 23:22:59] BitMEX_Arthur : no
[2015-06-03 23:23:06] wjschafer : k
[2015-06-03 23:23:08] BitMEX_Arthur : if you have $10k USD of Bitcoin
[2015-06-03 23:23:18] BitMEX_Arthur : and you want to lock that value in, you sell 100 Contracts
[2015-06-03 23:23:21] wjschafer : i really appreciate this btw
[2015-06-03 23:23:29] BitMEX_Arthur : nw we are here to help educate
[2015-06-03 23:23:32] BitMEX_Arthur : only way people can learn
[2015-06-03 23:24:17] BitMEX_Arthur : If the price goes up, you miss out, but if the price goes down you have a locked in value
[2015-06-03 23:24:31] wjschafer : right
[2015-06-03 23:24:34] BitMEX_Arthur : I think you might be confusing options, when you trade options the volatility comes into play
[2015-06-03 23:24:40] BitMEX_Arthur : with futures it's a 1:1 hedge
[2015-06-03 23:24:53] wjschafer : so in my model i'm constantly buying and sellin BTC
[2015-06-03 23:24:59] wjschafer : in pretty large chunks
[2015-06-03 23:25:07] wjschafer : ahh
[2015-06-03 23:25:11] wjschafer : yes that's righ
[2015-06-03 23:25:13] wjschafer : t
[2015-06-03 23:25:13] BitMEX_Arthur : right so is your working capital split btw USD and Bitcoin?
[2015-06-03 23:25:25] wjschafer : sort of
[2015-06-03 23:25:31] wjschafer : trying to figure that out now
[2015-06-03 23:25:39] BitMEX_Arthur : so if you are running an operation say like a localbitcoin sellers
[2015-06-03 23:25:39] wjschafer : i need btc to fill wallets
[2015-06-03 23:25:50] wjschafer : but i only want enough to do so
[2015-06-03 23:25:51] BitMEX_Arthur : you split your working cap (wc) into two pots
[2015-06-03 23:25:54] BitMEX_Arthur : USD and Bitcoin
[2015-06-03 23:26:07] BitMEX_Arthur : the Bitcoin you hedge with XBU contracts to lock in the USD value
[2015-06-03 23:26:16] wjschafer : my concern is i have this exposure to a significant swing
[2015-06-03 23:26:20] BitMEX_Arthur : you post a portion of Bitcoin as margin for the futures contract 30% of the value
[2015-06-03 23:26:24] wjschafer : right
[2015-06-03 23:26:27] BitMEX_Arthur : then the 70% you use to trade
[2015-06-03 23:26:33] wjschafer : yes
[2015-06-03 23:26:35] BitMEX_Arthur : as soon as you sell Bitcoin, you just buy back spot with USD
[2015-06-03 23:26:41] BitMEX_Arthur : so you never have to touch your futures hedge
[2015-06-03 23:27:03] BitMEX_Arthur : whenever you get an order, provided you auto execute on your spot exchange, you have no price risk
[2015-06-03 23:27:14] BitMEX_Arthur : and you maximise your USD returns
[2015-06-03 23:27:30] wjschafer : this is funny
[2015-06-03 23:27:37] wjschafer : just when i think i've got it
[2015-06-03 23:27:48] wjschafer : i realize i don't
[2015-06-03 23:28:17] wjschafer : self realization is a good thing
[2015-06-03 23:28:43] wjschafer : i think i'm going to need to start doing this with some minor ammounts
[2015-06-03 23:28:43] BitMEX_Arthur : if you run your buying and selling operation in this way
[2015-06-03 23:28:51] BitMEX_Arthur : you don't have to charge as high of spreads
[2015-06-03 23:28:56] BitMEX_Arthur : because u have no price risk
[2015-06-03 23:29:02] BitMEX_Arthur : lower spreads, increase turnover
[2015-06-03 23:29:09] wjschafer : that's what i'
[2015-06-03 23:29:13] wjschafer : m going for
[2015-06-03 23:30:02] wjschafer : any way to set up a paper account?
[2015-06-03 23:30:18] BitMEX_Arthur : yes
[2015-06-03 23:30:22] wjschafer : cool
[2015-06-03 23:30:28] BitMEX_Arthur : https://testnet.bitmex.com
[2015-06-03 23:30:28] wjschafer : i need to dig in a bit
[2015-06-03 23:30:39] BitMEX_Arthur : create an account there, it uses testnet Bitcoin
[2015-06-03 23:30:46] BitMEX_Arthur : all the same contracts and API calls are there
[2015-06-03 23:30:46] wjschafer : there?
[2015-06-03 23:30:57] wjschafer : ah
[2015-06-03 23:30:59] wjschafer : link sorry
[2015-06-03 23:31:23] wjschafer : we've built an sms wallet
[2015-06-03 23:31:31] wjschafer : i'm kinda stoked about it
[2015-06-03 23:31:43] BitMEX_Arthur : do you have a link
[2015-06-03 23:32:00] BitMEX_Arthur : you are a target client, if you are running a value storing service using Bitcoin as the rails
[2015-06-03 23:32:04] wjschafer : it's still kinda cheesy
[2015-06-03 23:32:04] BitMEX_Arthur : you should absolutely be using our products
[2015-06-03 23:32:13] wjschafer : yeah
[2015-06-03 23:32:19] wjschafer : i'm glad i stumbled on you
[2015-06-03 23:32:26] BitMEX_Arthur : how did you hear about us?
[2015-06-03 23:32:34] wjschafer : i forget
[2015-06-03 23:32:42] wjschafer : i think i googled bitcoin options
[2015-06-03 23:32:48] wjschafer : or something like that
[2015-06-03 23:33:08] BitMEX_Arthur : https://blog.bitmex.com/crypto-trader-digest-may-18/
[2015-06-03 23:33:10] wjschafer : got my wallet when BTC was $10.42
[2015-06-03 23:33:17] BitMEX_Arthur : read "Why ATM operators need derivatives" section
[2015-06-03 23:33:21] BitMEX_Arthur : a step by step example
[2015-06-03 23:33:27] BitMEX_Arthur : of what you are basically doing
[2015-06-03 23:33:35] wjschafer : excellent!
[2015-06-03 23:33:58] wjschafer : i think you emailed me when i signed up
[2015-06-03 23:34:03] wjschafer : that was very professional
[2015-06-03 23:34:16] wjschafer : this is still very much the wild west
[2015-06-03 23:34:43] BitMEX_Arthur : for sure, we are trying to bring some standards and help businesses use Bitcoin and increase adoption
[2015-06-03 23:35:13] wjschafer : I hope to have site up in a couple weeks
[2015-06-03 23:35:28] wjschafer : been grinding on the product for awhile
[2015-06-03 23:35:42] wjschafer : starting to onboard customers
[2015-06-03 23:35:53] BitMEX_Arthur : awesome
[2015-06-03 23:36:02] BitMEX_Arthur : can't wait to try it out
[2015-06-03 23:36:06] wjschafer : yeah
[2015-06-03 23:36:13] wjschafer : customers break all kinds of things
[2015-06-03 23:36:19] wjschafer : try stuff you never thought of
[2015-06-03 23:36:22] wjschafer : it's great
[2015-06-03 23:36:41] wjschafer : ok - hey thanks for your time. I'm sure I'll have more questions
[2015-06-03 23:36:56] BitMEX_Arthur : feel free to email us support@bitmex.com
[2015-06-03 23:37:01] wjschafer : will do
[2015-06-03 23:37:02] BitMEX_Arthur : if no admin is in the chat
[2015-06-03 23:37:02] wjschafer : thanks!
[2015-06-03 23:37:12] wjschafer : Trollbox
[2015-06-03 23:37:13] wjschafer : love it
[2015-06-04 00:05:42] BitMEX_Arthur : https://blog.bitmex.com/bitlicense-same-same-but-different/
[2015-06-04 00:32:13] goat : BitMEX_Arthur: nice, good read
[2015-06-04 00:32:17] goat : i like the connection you made
[2015-06-04 00:32:40] goat : did you see the one I made earlier
[2015-06-04 00:36:11] BitMEX_Arthur : yeah
[2015-06-04 00:36:13] BitMEX_Arthur : just read it
[2015-06-04 00:36:18] BitMEX_Arthur : waiting ur next okc installment
[2015-06-04 00:38:48] goat : haha
[2015-06-04 00:38:57] goat : i really like that they left that part out of the new bitlicense
[2015-06-04 00:39:00] goat : that was super sketch to me
[2015-06-04 00:39:05] goat : and did you watch the video?
[2015-06-04 00:39:41] BitMEX_Arthur : no
[2015-06-04 00:39:51] goat : its really good
[2015-06-04 00:40:14] goat : i considered investing in palantir in like 2011 when they first got listed on secondmarket
[2015-06-04 00:40:19] goat : i didnt and regret it to this day
[2015-06-04 00:59:59] wjschafer : hey guys
[2015-06-04 01:00:08] BitMEX_Arthur : hola
[2015-06-04 01:00:14] wjschafer : yo
[2015-06-04 01:00:24] wjschafer : i tried to import your key
[2015-06-04 01:00:37] wjschafer : it got rejected by my app
[2015-06-04 01:00:57] wjschafer : says it needs a blank line between header and key and footer
[2015-06-04 01:01:11] wjschafer : i took care of it
[2015-06-04 01:01:16] wjschafer : on my end
[2015-06-04 01:01:23] wjschafer : ever get that one before?
[2015-06-04 01:01:51] wjschafer : maybe you need to edit it
[2015-06-04 01:02:00] wjschafer : it's awesome that you guys even provide that
[2015-06-04 01:02:02] wjschafer : btw
[2015-06-04 01:27:52] BitMEX_Sam : wjschafer: Thanks, just a newline issue
[2015-06-04 07:05:41] krach : for some reason iframe did not work to embed the charts
[2015-06-04 13:46:01] rhk : BitMEX_Arthur: any chance you could process my withdrawal request? just realized I forgot to put it in before lunch and missed the cutoff
[2015-06-04 13:46:13] BitMEX_Sam : rhk: Yeah we can do it.
[2015-06-04 13:46:14] BitMEX_Arthur : You need to confirm
[2015-06-04 13:46:14] BitMEX_Arthur : via email
[2015-06-04 13:47:00] rhk : just did.. thx
[2015-06-04 13:48:08] cengel : thats cool you guys aren't strict about it
[2015-06-04 13:48:26] BitMEX_Sam : Nah. Our policy is that we process at least every day at 12 GMT
[2015-06-04 13:48:44] BitMEX_Sam : If someone has a good reason to get something out sooner and enough of us are around we can occasionally push it through
[2015-06-04 13:53:32] BitMEX_Sam : rhk: You're good to go
[2015-06-04 13:55:56] rhk : thanks
[2015-06-04 14:29:59] BitMEX_Arthur : https://blog.bitmex.com/bvol24h-earn-the-volatility-premium/
[2015-06-04 16:26:18] cengel : according to Arthur's post there is bids that are well above average premium on order book!
[2015-06-04 17:13:51] BitMEX_Wally : cengel: Yep, and people also lift high offers
[2015-06-04 18:03:38] Kweejee : Bvol more like novol
[2015-06-04 18:03:39] Kweejee : xD
[2015-06-04 18:04:03] Kweejee : Good thing Ive been tied in the office or I'd be going insane with the lack of anything happening
[2015-06-05 00:53:09] goat : BitMEX_Arthur: http://parasec.net/transmission/order-book-visualisation/
[2015-06-05 00:59:35] BitMEX_Arthur : wow
[2015-06-05 01:50:20] goat : sick right
[2015-06-05 01:51:39] BitMEX_Arthur : when i have more time i i will take a greater look at it
[2015-06-05 01:53:56] BitMEX_Sam : Wow @goat quality link
[2015-06-05 02:07:10] goat : BitMEX_Sam: thanks man, its such a good read
[2015-06-05 08:06:14] cengel : did that wick catch? lol
[2015-06-05 08:26:54] cengel : Finex being Finex i guess
[2015-06-05 08:29:48] gaoMex : Did Greece default?
[2015-06-05 08:30:42] BitMEX_Arthur : no
[2015-06-05 08:30:56] BitMEX_Arthur : they will bundle all June IMF payments into one due June 30th
[2015-06-05 08:31:31] gaoMex : I'm just wondering what caused the spike in Finex. ;)
[2015-06-05 08:31:41] BitMEX_Arthur : stop hunting?
[2015-06-05 08:32:04] cengel : who's stops would get hit at 229 ? youd have to be short from below 200 on finex's leverage
[2015-06-05 08:32:12] BitMEX_Arthur : yeah but doesn't mean u don't cover
[2015-06-05 08:32:14] BitMEX_Arthur : when u see a train coming
[2015-06-05 08:32:30] cengel : true
[2015-06-05 08:32:44] cengel : was hoping one of those spikes would be caught in the 5min snaps but no luck
[2015-06-05 08:33:22] gaoMex : Order book seems to stacking up on the bids side.
[2015-06-05 08:34:33] BitMEX_Arthur : I think u fade this
[2015-06-05 08:35:42] BitMEX_Arthur : China barely got above 1400 on the spike
[2015-06-05 08:35:50] BitMEX_Arthur : looks like a fat finger to me
[2015-06-05 08:36:47] cengel : no way, not when 1500 coins were moved twice, 5 minutes apart
[2015-06-05 08:36:48] Murch : China started rising 5 minutes earlier it looks like to me.
[2015-06-05 08:37:47] cengel : i think exchanges should have not just "wallet" but also like "bank" where the funds are segregated, so big accounts dont feel as exposed to fat finger
[2015-06-05 08:38:11] BitMEX_Arthur : fat finger doesn't really expose anyone
[2015-06-05 08:38:19] BitMEX_Arthur : just means the buyer paid way too much
[2015-06-05 08:39:22] cengel : no i mean if someone accidently does this because of typo or whatever
[2015-06-05 08:39:31] cengel : and they keep like 100btc in their wallet
[2015-06-05 08:39:46] cengel : seems sensible to be able to just park it in a different area on the site that is not open to orders
[2015-06-05 08:40:42] cengel : okcoin sort of does that with how they separate spot and futures
[2015-06-05 08:41:26] gaoMex : cengel: Who do you think speak the truth? CZP or Star?
[2015-06-05 08:41:39] cengel : CZ
[2015-06-05 08:41:48] cengel : Star has villain written all over him
[2015-06-05 08:42:26] gaoMex : Sam view. I withdrew all my coins from OKCoin.
[2015-06-05 08:42:41] gaoMex : Won't trade there again.
[2015-06-05 08:42:55] cengel : it should have been obvious when so many employees left months ago
[2015-06-05 08:43:09] cengel : so what is happening now is more a continuation of that same story that we never got complete
[2015-06-05 08:44:00] gaoMex : Which is?
[2015-06-05 08:44:33] cengel : well, major shareholder /CTO could not even look at his own company's bank statements? his name was forged on documents?
[2015-06-05 08:44:44] cengel : there's crimes being committed there
[2015-06-05 08:45:04] cengel : but my experience on China business in general is low so i can't say how normal that is
[2015-06-05 08:45:34] cengel : so maybe im having a western overreaction
[2015-06-05 08:46:44] gaoMex : I'm not surprised at how Chinese do business.
[2015-06-05 08:47:39] gaoMex : Trading at OKCoin seems unaffected though, activity level still high.
[2015-06-05 08:49:01] cengel : yea. makes you wonder just how small a segment of the trading community reddit and stuff actually represents
[2015-06-05 08:49:35] cengel : also people who kept depositing to old hacked addresses on Bitfinex, days after it happened.
[2015-06-05 08:49:43] cengel : how can you be dealing with hundreds of coins and not staying on top of shit
[2015-06-05 08:53:11] cengel : now wtf is bitsamp doing
[2015-06-05 08:53:28] gaoMex : Keeping price down, as usual ;)
[2015-06-05 08:53:40] gaoMex : Price cannot go up, remember?
[2015-06-05 08:55:31] cengel : sub 220
[2015-06-05 08:55:38] cengel : on bitstamp
[2015-06-05 08:56:02] BitMEX_Arthur : What is going on at birstamp
[2015-06-05 11:38:44] cengel : 1 hour NFP
[2015-06-05 11:43:26] cengel : 222K is forecast. hoping for a beat
[2015-06-05 12:38:35] rhk : BitMEX_Arthur: have another withdrawal that I put in yesterday but hasn't gone through yet. can you check?
[2015-06-05 12:39:23] BitMEX_Wally : rhk: Checking now
[2015-06-05 12:45:29] BitMEX_Wally : Sorry about that, the transaction needs one more signature
[2015-06-05 12:59:22] rhk : got it thx
[2015-06-05 15:05:02] Kweejee : BitMEX_Wally: SAme issue. I did a withdrawl today. Confirmed it with my email. Balance disappeared. Now the balance is back in my wallet
[2015-06-05 15:06:42] BitMEX_Wally : Kweejee: Withdrawal requests get auto-canceled if not confirmed within 30 minutes
[2015-06-05 15:06:48] BitMEX_Wally : Let me check with Sam to see what happened
[2015-06-05 15:06:59] Kweejee : I confirmed it lol
[2015-06-05 15:07:20] Kweejee : The link that was sent to my email led to an error but the balance still disappeared
[2015-06-05 15:07:32] Kweejee : This happened last time and sam forced it through
[2015-06-05 15:07:48] BitMEX_Wally : A pendingDebit is immediately deducted from your balance, even if not confirmed
[2015-06-05 15:08:23] BitMEX_Wally : I can force it through now, but we need to investigate what went wrong with the confirmation link
[2015-06-05 15:08:43] Kweejee : "403 error" when clicking the confirmation link sent to email
[2015-06-05 15:08:45] Kweejee : Just tried it again
[2015-06-05 15:11:20] BitMEX_Sam : Kweejee: You had this issue earlier, right?
[2015-06-05 15:13:11] Kweejee : Yessir
[2015-06-05 15:13:23] Kweejee : Link sent to my confirmation email never works. Always leads to a 403 error
[2015-06-05 15:13:29] Kweejee : I can screen shot it if that would be helpful
[2015-06-05 15:13:36] BitMEX_Sam : Thanks, we have the logs
[2015-06-05 15:13:39] BitMEX_Sam : I just broadcast your withdrawal
[2015-06-05 15:13:57] BitMEX_Sam : I'll take a closer look at it. Other users aren't having problems so I suspect it has something to do with a header your browser is sending
[2015-06-05 15:14:12] BitMEX_Sam : We have pretty significant risk checks in place to prevent request spoofing, but it appears in this case it got a little out of control
[2015-06-05 15:14:31] Kweejee : Haha no worries. I trust the system completely
[2015-06-05 15:14:43] Kweejee : You guys are on your game so I have no issues
[2015-06-05 15:15:08] BitMEX_Sam : Thanks. Of course we don't like these kinds of bugs. We don't want to give anyone the idea we're intentionally holding on to deposits
[2015-06-05 18:37:57] BitMEX_Sam : Looks like we're back to a sideways market
[2015-06-06 02:27:38] BitMEX_Arthur : Hello
[2015-06-06 11:15:43] cengel : Arthur you see that dollar whipsaw yesterday on NFP beat
[2015-06-06 11:19:04] cengel : shot up like 60 pips before dumping 200 pips
[2015-06-06 11:19:18] cengel : enough to wrek the super highleverage lshorts
[2015-06-06 12:03:52] cengel : BitMEX_Sam: is it possible to make the font of the order controls editable by user? its hard to see the decimal sometimes
[2015-06-06 12:36:19] cengel : anyone get errors using the Excel addon? there might be a memory leak in it
[2015-06-06 19:58:04] SnackyCoins : @cengel press F11 in chrome, click the "console" tab and paste this/press enter $('.orderControls').css('font-family', 'arial');
[2015-06-06 19:58:31] SnackyCoins : you can change the font to uh... whatever happens to be loaded :P
[2015-06-06 19:59:06] SnackyCoins : (i like the font) (also the movement of the wallet button & others was a good change)
[2015-06-06 21:12:30] cengel : SnackyCoins: font-size not working? i'm just having trouble seeing the decimal at times
[2015-06-06 21:12:45] cengel : $('.orderControls').css('font-family','Arial');
[2015-06-06 21:12:52] cengel : $('.orderControls').css('font-size','18);
[2015-06-06 21:36:26] SnackyCoins : $('.orderControls').css('font-size', '150%'); works for me
[2015-06-06 21:37:02] SnackyCoins : you are missing a ' and a measurement in yours (px, em)
[2015-06-06 21:37:34] cengel : no the textbox oesnt change tho
[2015-06-06 21:37:49] cengel : i mean for textbox
[2015-06-06 21:37:54] SnackyCoins : you want the text in the textbox or the calculations next to it?
[2015-06-06 21:38:02] cengel : textbox