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

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[2016-05-14 08:10:52] sq : m i notified every wk if i were to absorb losses ?
[2016-05-14 08:11:06] sq : is it viewab on my account?
[2016-05-14 08:11:32] sq : ie if my withheld profits were used to offset system loss, where would i find the details?
[2016-05-14 08:17:17] sq : also, where do u get the $ to fund the insurance fund? tks
[2016-05-14 08:18:55] BitMEX_Wally : sq: If there was system loss and there was DPE then the adjustment is published here: https://www.bitmex.com/app/settlementHistory
[2016-05-14 08:19:18] sq : how do i check my individual contribution if there were?
[2016-05-14 08:19:36] sq : i m interested to know more about this, before i deploy more capital here
[2016-05-14 08:20:24] BitMEX_Wally : When the contract is settled or rebalanced, your profit is adjusted before hitting your wallet
[2016-05-14 08:20:45] BitMEX_Wally : You can see the wallet transactions here: https://www.bitmex.com/app/wallet
[2016-05-14 08:21:24] BitMEX_Wally : So if the DPE rate that week was 10% and you had a CashRebalance transaction of 0.90 XBT then your contribution was 0.10 XBT
[2016-05-14 08:21:50] sq : ic tks
[2016-05-14 08:22:01] sq : so far, there has been no instances?
[2016-05-14 08:22:07] BitMEX_Wally : Not for months
[2016-05-14 08:22:15] BitMEX_Wally : I think the last DPE was December
[2016-05-14 08:22:26] sq : ic
[2016-05-14 08:22:35] BitMEX_Wally : Regarding the insurance fund, when a position is liquidated it is taken over by the system and closed out, any margin remaining is added to the insurance fund
[2016-05-14 08:22:53] sq : also, it will only adjust from my profits and not the base capital, from my understanding?
[2016-05-14 08:22:58] BitMEX_Wally : Correct
[2016-05-14 08:23:10] BitMEX_Wally : DPE only applies to net profits that week
[2016-05-14 08:23:22] sq : Regarding the insurance fund, when a position is liquidated it is taken over by the system and closed out, any margin remaining is added to the insurance fund
[2016-05-14 08:23:29] sq : why would there be margin remaining?
[2016-05-14 08:23:44] sq : apologies, not clear on this
[2016-05-14 08:24:17] BitMEX_Wally : Each contact has a maintenance margin requirement, for XBTUSD this is 0.50%
[2016-05-14 08:24:30] BitMEX_Wally : A position in XBTUSD is liquidated when the margin remaining drops below 0.50%
[2016-05-14 08:24:35] BitMEX_Wally : So this 0.50% is used to close out the position
[2016-05-14 08:25:23] BitMEX_Wally : So if you open a position in XBTUSD at 25x (for example) this allocates 4% initial margin. The maintenance margin is 0.50% which means that after a 3.5% loss you are liquidated
[2016-05-14 08:26:26] sq : but if there were no default event, then the margin is returned?
[2016-05-14 08:27:16] BitMEX_Wally : No, liquidation costs 0.50%
[2016-05-14 08:27:25] sq : ic.
[2016-05-14 08:27:34] BitMEX_Wally : You can set a Stop order and manage risk yourself
[2016-05-14 08:27:50] sq : what bout on settlement/maturity of contract
[2016-05-14 08:27:53] sq : how is the margin dealt w
[2016-05-14 08:28:05] migz : i got liquidated a biit, but transaction didnt happen in recent trades. Where did it go? O_O
[2016-05-14 08:28:28] BitMEX_Wally : migz: Have a look in Trade History: https://www.bitmex.com/app/tradeHistory
[2016-05-14 08:28:48] BitMEX_Wally : sq: When a contract settles the position is closed at the settlement price.
[2016-05-14 08:29:02] sq : what are the costs?
[2016-05-14 08:29:12] BitMEX_Wally : https://www.bitmex.com/app/fees
[2016-05-14 08:29:38] sq : it will be a taker fee?
[2016-05-14 08:29:39] migz : BitMEX_Wally: paid by settlement price but is not recorded in trading history?
[2016-05-14 08:30:06] BitMEX_Wally : sq: It will be Settlement Fee
[2016-05-14 08:30:30] migz : i mean recent trades (XBTUSD)
[2016-05-14 08:31:36] sq : tks
[2016-05-14 08:32:03] BitMEX_Wally : migz: Your position was taken over at 08:00:36 UTC and then closed out over the next 5 minutes
[2016-05-14 08:33:22] migz : I know that. So it is not autobuy, but will be taken and be sold in the next 5 minutes. genius
[2016-05-14 08:38:08] sq : @BitMEX_Wally one last qn. so if my position is closed either before or at settlement and not liquidated, the maintenance margin i pledged will then be returned to me?
[2016-05-14 08:38:21] BitMEX_Wally : sq: Correct
[2016-05-14 08:38:33] sq : ie only if a liquidation is forced on me, the maintenance margin is taken as a penalty
[2016-05-14 08:38:39] sq : tks
[2016-05-14 08:38:41] BitMEX_Wally : Yep
[2016-05-14 08:38:47] sq : great
[2016-05-14 08:56:37] rapidtrades : greaaat
[2016-05-14 08:58:43] germanjew : Is bitmex going to continue with the quarterly XBTUSD futures seeing that you now have a perpetual swap?
[2016-05-14 09:02:36] rapidtrades : nope these are the last two
[2016-05-14 09:03:10] rapidtrades : arthur set the bar at 500 btc per day, so its not going to happen
[2016-05-14 09:05:06] germanjew : mmm thats a shame
[2016-05-14 09:08:10] chromaticcr1 : I guess Arthur should deal with Factom contract first... neither open value or vol over prev 24h has 1XBT
[2016-05-14 09:18:17] habibi : factom/china 50 both are well played here
[2016-05-14 09:31:44] chromaticcr1 : *Honorable Mentions* We should have a tab with this name here
[2016-05-14 11:03:11] rapidtrades : bitcoin introduces 1 new trading instrument every week
[2016-05-14 11:03:30] rapidtrades : ...and kills off two others :)
[2016-05-14 11:55:30] stevelim : How does funding works? If I am short XBTUSD, How do I get paid? When do I get paid? I see 0.069% per day.
[2016-05-14 11:59:45] chromaticcr1 : Yes indeed, everyday at funding time (GMT1200nn), if you have a short position, you pay the funding rate. The funding rate could change day by day according to the funding rate at Bitfinex
[2016-05-14 12:02:20] chromaticcr1 : Have a look at https://blog.bitmex.com/ , plenty of great detailed information about the new contract, in case you dont get the "details of contract", or generally why and how things works.
[2016-05-14 12:07:39] rapidtrades : i almost got f*Cked again, forgot that 24h doesn't settle anymore
[2016-05-14 12:07:55] rapidtrades : no more free money :(
[2016-05-14 12:24:57] gorilla2 : hi, if i short ETH will i get paid or do i have to pay with the swap?
[2016-05-14 12:39:04] BitMEX_Wally : If you are short XBTUSD or short ETHXBT you will currently get paid
[2016-05-14 12:40:02] habibi : BitMEX_Wally: on eth right now funding is on minus, doesnt it mean u will pay on short?
[2016-05-14 12:42:15] BitMEX_Wally : https://www.bitmex.com/app/fees
[2016-05-14 12:42:24] j8 : the ETHXBT contract specs are a bit confusing on that, "longs will receive -0.1431%, and shorts will pay -0.1431%". and the fees page hasn't updated
[2016-05-14 12:43:24] BitMEX_Wally : We will fix the funding page
[2016-05-14 12:46:11] BitMEX_Wally : gorilla2: Sorry for the confusion, if you are short ETHXBT you will pay 0.14%
[2016-05-14 12:46:32] BitMEX_Wally : if you are long you will receive 0.14%
[2016-05-14 12:56:17] haxmb : BitMEX_Wally: what happened to your internet
[2016-05-14 12:56:26] haxmb : i got CONNECTION_TIMED_OUT
[2016-05-14 13:14:28] haxmb : guys tell me whats up with your site/API plz?
[2016-05-14 13:15:51] j8 : i had issues yesterday but not today @haxmb
[2016-05-14 13:16:48] haxmb : seems like i am getting banned or throttled
[2016-05-14 13:17:00] haxmb : API responses > 50 seconds
[2016-05-14 13:17:14] BitMEX_Wally : What timestamps did it happen at?
[2016-05-14 13:18:36] haxmb : the past 15-30 minutes
[2016-05-14 13:18:44] haxmb : very sketchy connections
[2016-05-14 13:19:07] haxmb : getting "disconnected from the bitmex live stream" stuff as well
[2016-05-14 13:19:09] chromaticcr1 : lol the funding rate went this high yesterday on polo
[2016-05-14 13:19:45] haxmb : aw shit am I paying 0.143% on my short?
[2016-05-14 13:21:09] BitMEX_Wally : The ETH borrow rate has shot up on Poloniex: https://www.bitmex.com/app/index/.ETHPON24H
[2016-05-14 13:21:33] chromaticcr1 : shorts will pay -0.1431% at 20:00 (12:00 UTC). Paying negative money = Getting positive money :)
[2016-05-14 13:23:37] j8 : wow tomorrow is gonna be much worse
[2016-05-14 13:23:41] chromaticcr1 : BitMEX_Wally: are you taking the rate of LOAN OFFERS on polo, non-VWAP-ed,only twaped
[2016-05-14 13:24:29] BitMEX_Wally : Depth weighted price 50000 ETH worth of loan offers
[2016-05-14 13:24:35] chromaticcr1 : awesome
[2016-05-14 13:24:38] BitMEX_Wally : TWAPed each minute for 24 hours
[2016-05-14 13:38:51] haxmb : chromaticcr1: why dont they display it
[2016-05-14 13:39:04] haxmb : pay abs(rate)
[2016-05-14 13:39:13] haxmb : instead of pay (rate) receive (rate)
[2016-05-14 13:39:26] chromaticcr1 : BitMEX_Wally: I guess that's on ur list ;)
[2016-05-14 13:39:41] BitMEX_Wally : Yes we will Math.abs it
[2016-05-14 13:40:16] BitMEX_Wally : and stop the fees page from being cached
[2016-05-14 14:59:07] migz : That DAO.
[2016-05-14 15:08:12] sq : anyone bought DAO?
[2016-05-14 16:12:50] sleger : gatecoin got hacked, sucks for them
[2016-05-14 16:20:41] BitMEX_Sam : Yeah. Terrible
[2016-05-14 16:50:06] rapidtrades : gatecoin of soon to be launched gao?
[2016-05-14 16:52:49] rapidtrades : *dao
[2016-05-14 19:05:16] thelostphotog : what happened with gatecoin and why's it matter for DAO? someone catch me up
[2016-05-14 19:24:06] REKT : Liquidated long on `ETHXBT`: Sell 30 @ 0.02207
[2016-05-14 19:28:41] podizzle3k : does it seem to anyone else that a string of bad things happening to ETH and DAO
[2016-05-14 19:28:54] podizzle3k : house of cards gonna crash soon
[2016-05-14 19:29:33] podizzle3k : peoples official wallet getting hacked, gatecoin gets hacked, dao curator steps down, the dao "accidentally" cannot calculate the price switch correctly
[2016-05-14 19:30:28] podizzle3k : oh yeah we can code an autonomous decentralized democracy, but counting to 7... thats pretty tough
[2016-05-14 19:33:39] mrp1nk : where is the 7d?
[2016-05-14 19:35:25] messiaen8844 : podizzle3k: enjoy the pumps&dumps, that's why we're here :).
[2016-05-14 19:35:50] podizzle3k : mrp1nk 24, 48 and 7d were replaced with perpetual swap
[2016-05-14 19:36:30] podizzle3k : messiaen8844: yea i have no allegiance to btc or eth but i do root for these coins to increase in value over time
[2016-05-14 19:36:33] mrp1nk : wtf, why this?
[2016-05-14 19:36:52] podizzle3k : mrp1nk so you dont have to worry about expiring contracts
[2016-05-14 19:37:38] podizzle3k : mrp1nk: its kind of annoying to learn the new system but i think once you get used to it you will like it
[2016-05-14 19:38:53] joequant : question. What's the easiest way of getting the last settlement price for an instrument?
[2016-05-14 19:40:48] mrp1nk : i thought this is a trading platform for futures
[2016-05-14 19:45:16] joequant : No plans to get rid of the long date futures right?
[2016-05-14 19:47:15] rapidtrades : theyre good as dead mate
[2016-05-14 19:47:21] rapidtrades : plan accordingly
[2016-05-14 19:49:14] lockhedge : joequant: you can take ´settledPrice´from here https://www.bitmex.com/api/v1/instrument?symbol=XBT24H and change the symbol
[2016-05-14 19:59:56] joequant : Gotcha
[2016-05-14 20:00:59] Johnster : How do entries show up? One averaged position or separate positions? Is there a way to set this in the settings?
[2016-05-14 20:05:01] haxmb : where the DAO MM at
[2016-05-14 20:06:24] rapidtrades : poof
[2016-05-14 20:12:21] aethlios : Hello, if I don't have open position at 12:utc I don't pay or receive the funding rate, true?
[2016-05-14 20:13:59] arbitrage001 : aethlios: probably false
[2016-05-14 20:14:07] arbitrage001 : there is no free lunch in this world
[2016-05-14 20:14:34] aethlios : arbitrage001: I think open positions pay each other the swap fee.
[2016-05-14 20:14:51] arbitrage001 : finex calculates by the hour
[2016-05-14 20:14:58] arbitrage001 : here, probably something similar
[2016-05-14 20:14:58] BitMEX_Sam : aethlios: That's true - it's paid only once per day at 12 UTC
[2016-05-14 20:15:30] BitMEX_Sam : https://www.bitmex.com/app/swapsGuide#funding-timestamp
[2016-05-14 20:15:43] arbitrage001 : sorry, misread the uestion
[2016-05-14 20:15:51] arbitrage001 : question
[2016-05-14 20:16:01] BitMEX_Sam : Johnster: As for positions, you always have only a singular position in an instrument
[2016-05-14 20:16:27] aethlios : BitMEX_Sam: Hi Sam, thanks!
[2016-05-14 21:54:39] rapidtrades : which of these 3 is most important and why
[2016-05-14 21:55:23] rapidtrades : 1.edge/system 2. money management/risk control 3. diversification/portfolio construction
[2016-05-14 21:56:59] subjective : DAO has nothing on order
[2016-05-14 22:06:35] ram : holy shit
[2016-05-14 22:06:42] ram : there is no liqudation price in DAO?
[2016-05-14 22:06:43] ram : ALL IN
[2016-05-14 22:11:43] endhouse : эй
[2016-05-14 22:11:59] endhouse : кто по русски говорит
[2016-05-14 22:12:43] endhouse : DAO price what?
[2016-05-14 22:15:49] ram : DAO going X100
[2016-05-14 22:17:08] ram : DAO IT NOW
[2016-05-14 22:17:35] endhouse : fake
[2016-05-14 22:17:56] endhouse : x10 max
[2016-05-14 22:18:11] ram : x5 At least
[2016-05-14 22:23:22] ram : BitMEX_Sam: why mark price is 0.01 in DAO
[2016-05-14 22:23:28] ram : it should be 0.01201
[2016-05-14 22:24:06] BitMEX_Sam : ram: It's set to the underlying asset's price until it is actually tradeable on exchanges, at which point it will be set to the exchange price
[2016-05-14 22:24:37] BitMEX_Sam : There is not enough liquidity to viably set it to ImpactMidPrice, a single actor could easily cause liquidations
[2016-05-14 22:25:06] ram : BitMEX_Sam: so if I'm buying DAO here at 0.012 I'm automatically at loss?
[2016-05-14 22:25:22] BitMEX_Sam : No, your position has an indicative loss, but that is different than an actual one
[2016-05-14 22:25:35] BitMEX_Sam : The same rules apply as anywhere - if you buy at 0.012 but sell at 0.013 you've made money
[2016-05-14 22:25:54] BitMEX_Sam : But for the purposes of automatic liquidation, the mark price is 0.010.
[2016-05-14 22:26:06] ram : thanks
[2016-05-14 22:27:41] habibi : its the first dao market?
[2016-05-14 22:27:54] habibi : i mean, any spot market?
[2016-05-14 22:32:32] BitMEX_Sam : habibi: There is no spot market yet
[2016-05-14 22:32:46] BitMEX_Sam : We expect there will be many at launch
[2016-05-14 22:33:37] habibi : there is basically no option for dao to go under 0.0100, as long as there is option to burn dao tokens and receive eth back
[2016-05-14 22:34:33] BitMEX_Sam : Seems so. However there is some complication in that plan
[2016-05-14 22:34:43] habibi : what u mean?
[2016-05-14 22:34:49] BitMEX_Sam : Appears there is a long waiting period that many users weren't aware of
[2016-05-14 22:35:05] habibi : u mean presale period? or sth more?
[2016-05-14 22:35:20] BitMEX_Sam : I haven't had time to review the DAO's code, but I am not 100% sure that this burn is actually possible in the way users expect
[2016-05-14 22:35:32] BitMEX_Sam : No, the issue I've seen so far is that actually initiating the burn takes 45+ days
[2016-05-14 22:35:40] BitMEX_Sam : If that went unnoticed, what else has
[2016-05-14 22:36:33] ram : time to buy the fucking dip I guess
[2016-05-14 22:36:36] habibi : ah agree, if u would ever check, let us know :)
[2016-05-14 22:37:54] BitMEX_Sam : Yeah of course.
[2016-05-14 22:56:00] ram : how the market value of DAO has been setted
[2016-05-14 22:56:15] ram : by the DAO protocol, DAOETH price should be rising
[2016-05-14 22:56:18] ram : in these 14 days
[2016-05-14 22:56:23] BitMEX_Sam : Simply based on the ICO price for now. It's not tradeable on any market today
[2016-05-14 22:56:26] BitMEX_Sam : Yes, it will rise
[2016-05-14 22:58:20] ram : BitMEX_Sam: so basically by the last day
[2016-05-14 22:58:27] ram : this should be 00.015
[2016-05-14 22:58:33] ram : 0.015
[2016-05-14 22:58:37] ram : right?
[2016-05-14 22:58:46] BitMEX_Sam : Right
[2016-05-14 23:06:11] ram : BitMEX_Sam: will it be above 0.015 after that period?
[2016-05-14 23:06:22] BitMEX_Sam : That's up to the market to decide.
[2016-05-14 23:06:33] ram : BitMEX_Sam: yup I guess
[2016-05-14 23:07:05] ram : BitMEX_Sam: so you are saying 0.015 is garaunteed?
[2016-05-14 23:07:42] BitMEX_Sam : Nothing is guaranteed, but assuming there are no major mishaps in the structure I would say it's likely
[2016-05-14 23:07:55] BitMEX_Sam : Of course, nobody can sell it yet - so it's not a fair price
[2016-05-14 23:09:21] thelostphotog : keep in mind nobody is even trading DAO here
[2016-05-14 23:09:28] thelostphotog : all BTC contracts
[2016-05-14 23:09:29] ram : thelostphotog: I do
[2016-05-14 23:09:43] BitMEX_Sam : Right, it's DAOETH quantoed into XBT
[2016-05-14 23:09:43] thelostphotog : no i mean you can't deposit DAO here and dump it, it's a futures contract
[2016-05-14 23:10:02] thelostphotog : this could be 0 and the real dao price has a different price
[2016-05-14 23:10:15] thelostphotog : so really there is no guarantee of 0.015 here
[2016-05-14 23:11:19] ram : thelostphotog: basic math say 0.015
[2016-05-14 23:11:25] ram : 1.5 eth=100 dao
[2016-05-14 23:11:29] ram : in last day
[2016-05-14 23:12:13] thelostphotog : on the dao hub
[2016-05-14 23:12:17] thelostphotog : but not here
[2016-05-14 23:12:31] ram : thelostphotog: it's the same
[2016-05-14 23:12:42] ram : why do u think price was set at 0.01 at first
[2016-05-14 23:13:19] thelostphotog : "The DAOETH futures contract, will expire on 24 June 2016 based on the Gatecoin DAO/ETH exchange rate."
[2016-05-14 23:13:27] thelostphotog : it all matters what the price is at gatecoin
[2016-05-14 23:13:51] ram : thelostphotog: not here
[2016-05-14 23:13:56] ram : Expiry is in a month
[2016-05-14 23:14:12] thelostphotog : so what's that sentence mean from the help page then?
[2016-05-14 23:14:17] thelostphotog : https://www.bitmex.com/app/seriesGuide/DAO
[2016-05-14 23:43:07] micmix : BitMEX_Sam: 45 days to get ETH back from DAO is correct, and the process is quite complicated. I think at most 5% of people who bought DAO will be able to do it.
[2016-05-15 00:16:35] aethlios : This dao contract is the DAO Hub?? or the digixdao?? Better write dao hub, many dao's out there.
[2016-05-15 00:19:47] aethlios : BitMEX_Sam: Sam could you add a future for Lisk also?? Goes live probably 24 May.
[2016-05-15 00:24:32] ggwp : aethlios: TheDAO
[2016-05-15 00:25:03] aethlios : ggwp: daohub.org??
[2016-05-15 00:25:33] ggwp : yes
[2016-05-15 00:59:23] Balooks : Hi, everybody..
[2016-05-15 00:59:33] ggwp : noone's here
[2016-05-15 00:59:34] Balooks : I have a question...
[2016-05-15 00:59:42] ggwp : ask away
[2016-05-15 01:00:01] ggwp : I probably don't know the answer though
[2016-05-15 01:00:32] BitMEX_Sam : I'm here - go for it
[2016-05-15 01:00:46] Balooks : I want to know how the process of data mining to increase my balance in Bitcoins.
[2016-05-15 01:02:45] BitMEX_Sam : I'm not sure I understand the question.
[2016-05-15 01:02:49] BitMEX_Sam : Are you asking about Bitcoin mining?
[2016-05-15 01:02:58] Balooks : Yes.
[2016-05-15 01:03:27] BitMEX_Sam : This isn't really the place to ask - there are thousands of articles throughout the web that explain it in detail
[2016-05-15 01:04:03] Balooks : Ok. Tks. I'll looking for. Best Regards.
[2016-05-15 01:04:46] Mangalica : search "reddit bitcoin mining" for example
[2016-05-15 01:05:15] Mangalica : or bitcointalk
[2016-05-15 01:05:39] Balooks : Tks. Mangalica.
[2016-05-15 01:25:38] podizzle3k : anyone here? sam?
[2016-05-15 01:26:05] podizzle3k : i need help
[2016-05-15 01:26:59] BitMEX_Wally : podizzle3k: Hello
[2016-05-15 01:27:06] podizzle3k : oh hey!
[2016-05-15 01:27:08] podizzle3k : I want to know how the process of data mining to increase my balance in Bitcoins.
[2016-05-15 01:27:28] BitMEX_Wally : Hahah
[2016-05-15 01:27:34] podizzle3k : wuahhaah
[2016-05-15 01:27:55] podizzle3k : mangina my friend
[2016-05-15 01:29:07] podizzle3k : Mangalica: your name means domestic pig in hungarian?
[2016-05-15 01:29:31] Mangalica : it's a breed of pig
[2016-05-15 01:29:33] podizzle3k : i just googled it, it has wool like a hseep
[2016-05-15 01:29:34] podizzle3k : sheep
[2016-05-15 01:29:51] podizzle3k : never knew there was a wooly pig
[2016-05-15 01:30:26] Mangalica : they come in three versions: blonde, swallow-bellied (brown) and red
[2016-05-15 01:30:32] BitMEX_Wally : Oops, I looked up mangina on urban dictionary
[2016-05-15 01:32:26] podizzle3k : ive heard of the bearded lady but that is something entirely else
[2016-05-15 01:33:49] Mangalica : we have some weird animals here
[2016-05-15 01:35:14] Mangalica : http://prestigepuli.net/images/gallery_pictures_images/viva_0372.jpg dog
[2016-05-15 01:35:46] ggwp : ^malware
[2016-05-15 01:35:54] ggwp : ;)
[2016-05-15 01:36:02] Mangalica : https://i.ytimg.com/vi/QpYkmj7JOas/hqdefault.jpg sheep
[2016-05-15 01:36:28] podizzle3k : haha nice mop
[2016-05-15 01:36:36] Mangalica : https://c1.staticflickr.com/5/4022/5080920213_381fb26a86_b.jpg cows
[2016-05-15 01:36:37] Mangalica : etc
[2016-05-15 01:36:50] Mangalica : yeah thats a breed called puli
[2016-05-15 01:37:01] Mangalica : there is also a bigger one called komondor
[2016-05-15 01:38:56] Mangalica : and of course pigs
[2016-05-15 01:50:51] REKT : Liquidated short on `ETHXBT`: Buy 95 @ 0.02263
[2016-05-15 02:52:34] okaycn : 管理员，新合约有没有中文版的说明呢？
[2016-05-15 02:53:14] okaycn : 手续费是如何收取的，这一点不是很清楚
[2016-05-15 02:55:54] Mangalica : I'm not sure whether any mods speak chinese
[2016-05-15 03:03:05] sq : hes asking whether there is any Chinese version of the contract definition for the new contracts? and how the fees are calculated
[2016-05-15 03:03:09] sq : lol..
[2016-05-15 03:03:57] sq : gd luck explaining back in cn though
[2016-05-15 03:10:03] BitMEX_Wally : BitMEX_Jinming will answer in Chinese :)
[2016-05-15 03:10:25] sq : haha well done
[2016-05-15 03:13:05] BitMEX_Jinming : okaycn: 目前没有中文说明，我们正在制作中。
[2016-05-15 03:13:36] BitMEX_Jinming : okaycn: 请问您想了解的是哪个合约？
[2016-05-15 03:14:08] okaycn : XBTUSD
[2016-05-15 03:15:27] okaycn : XBTUSD 这个合约，开仓和平仓的手续费怎么收取？
[2016-05-15 03:16:31] okaycn : Funding: 0.0516% in 9 hours，，这个值得的开多单需要每天掏这么多的手续费，开空单能够赚取这么多的手续费吗？
[2016-05-15 03:20:19] BitMEX_Jinming : okaycn: 如果你开长仓并持有超过9小时你需要付这么多的funding。如果你来短仓，你可以赚取这么多的funding
[2016-05-15 03:23:03] BitMEX_Jinming : 我们仅收取开仓和平仓的手续费，对于funding完全是长仓付给短仓，我们不收取任何费用。
[2016-05-15 03:24:13] okaycn : 哦 ，那么开仓和平仓的手续费是多少呢？？
[2016-05-15 03:24:42] BitMEX_Arthur : okaycn: https://blog.bitmex.com/bitmex%E6%97%A0%E4%BA%A4%E5%89%B2%E5%90%88%E7%BA%A6-%E5%88%A9%E7%8E%87%E4%BA%92%E6%8D%A2/
[2016-05-15 03:26:19] BitMEX_Jinming : 如果你提供流动性，你会获得0.025%，否则会被收取0.075%
[2016-05-15 03:27:55] BitMEX_Arthur : 读书这个博客文章
[2016-05-15 03:28:08] okaycn : 哦 ，好的
[2016-05-15 03:31:18] Blargwaffle : 清昌创叮咚
[2016-05-15 03:31:56] Blargwaffle : (sorry if that's a swear, just some humour)
[2016-05-15 03:32:35] Mangalica : worse humor than my ETH short attempts
[2016-05-15 03:32:47] Blargwaffle : You get it?
[2016-05-15 03:33:03] Mangalica : i have a translator tool thingy installed
[2016-05-15 03:33:09] Blargwaffle : Ehehe.
[2016-05-15 03:34:53] BitMEX_Wally : Chinese URL: https://blog.bitmex.com/bitmex无交割合约-利率互换/
[2016-05-15 04:25:27] Samirum : Chinese mode
[2016-05-15 05:04:57] chromaticcr1 : okaycn: 有什么问题也可以QQ我～ 1018861152，你附注BitMEX加你聊吧
[2016-05-15 06:00:06] REKT : Liquidated long on `ETHXBT`: Sell 475 @ 0.02239
[2016-05-15 06:54:58] sq : https://www.bitmex.com/api/v1/trade?symbol=.A50&count=1&reverse=true returns []
[2016-05-15 06:55:07] sq : is it because A50 mkt is closed?
[2016-05-15 06:56:14] sq : or is it because .A50 is not available through the API?
[2016-05-15 06:56:15] sq : tks
[2016-05-15 06:56:20] sq : thats the index for a50
[2016-05-15 07:01:15] podizzle3k : eth making overleveragers pay with those instadumps
[2016-05-15 07:01:25] podizzle3k : fair price has no chill on eth
[2016-05-15 07:01:34] podizzle3k : when its polo only
[2016-05-15 07:01:42] podizzle3k : maybe it should be a polo/kraken/bitfinex index
[2016-05-15 07:09:00] BitMEX_Wally : podizzle3k: Poloniex would be 70% of that index
[2016-05-15 07:11:42] podizzle3k : yeah then the fair price on that dump would have been down to .02212 instead of .02204
[2016-05-15 07:11:52] podizzle3k : .4% difference
[2016-05-15 07:13:07] podizzle3k : not much difference but i know if i had my buy stop target at .2205 i would have liked it
[2016-05-15 07:15:15] podizzle3k : but i guess those two pips would have saved the guy with a stop target at .2205
[2016-05-15 07:15:19] podizzle3k : do those still exist?
[2016-05-15 07:17:09] sq : BitMEX_Wally: could u pls ans my qn tks
[2016-05-15 07:24:51] REKT : Liquidated long on `ETHXBT`: Sell 93 @ 0.02218
[2016-05-15 07:35:51] BitMEX_Wally : sq: The BitMEX China A50 index is only calculated at settlement
[2016-05-15 07:36:17] sq : but .xbt is live?
[2016-05-15 07:38:29] BitMEX_Arthur : sq: Yes that is calculated every 1 minute
[2016-05-15 07:40:23] sq : ok tks vm
[2016-05-15 07:43:05] BitMEX_Wally : You can get a .XBT straight from Kaiko, will be faster
[2016-05-15 07:43:58] sq : ic ok
[2016-05-15 08:19:24] sq : if we bought the xbt swap just 1min before funding time (12:00 UTC) and held it across funding time, will we still be paid 0.0516%?'
[2016-05-15 08:23:00] BitMEX_Wally : If you are long XBTUSD at 12:00 UTC then you will pay
[2016-05-15 08:23:25] sq : right. ok tks
[2016-05-15 08:24:48] BitMEX_Wally : So you could sell the swap at 11:59:59 UTC and buy back at 12:00:01 UTC and earn 0.0516% but you may notice that the market makers will have increased their prices...
[2016-05-15 08:25:30] sq : ok, i guess the price will adjust ~ the 0.0516% just like a dividend event
[2016-05-15 09:37:06] REKT : Liquidated long on `ETHXBT`: Sell 10 @ 0.02198
[2016-05-15 10:18:06] subjective : When is the DAO price going to change to 1.05?
[2016-05-15 10:23:16] ggwp : it already has
[2016-05-15 10:42:23] null : if DAO is going to be 1.5 at end of presale, would it make sense to buy DAOETH at 0.012? Does 0.012 mean 1.2ETH per DAO?
[2016-05-15 10:44:24] BitMEX_Wally : null: 1.5 ETH is for 100 DAO
[2016-05-15 10:45:38] BitMEX_Wally : So just before the end of the pre-sale DAO tokens will be available at 0.015 ETH
[2016-05-15 10:47:04] null : so if I buy DAOETH at 12 I can make the spread? whats the catch?
[2016-05-15 10:48:18] BitMEX_Wally : Just because they raise the offering price from 0.01 to 0.015 does not mean that people will value it at 0.015
[2016-05-15 10:48:52] null : oh
[2016-05-15 10:48:58] null : right
[2016-05-15 10:50:25] BitMEX_Wally : Every DAO token is backed by 0.01 ETH in the smart contract, and it can be burnt to redeem the 0.01 ETH
[2016-05-15 10:50:33] BitMEX_Wally : So that puts a floor on the price at 0.01
[2016-05-15 10:51:02] null : so unless DAO creates some added value, its worth just 0.01
[2016-05-15 10:51:09] BitMEX_Wally : Correct
[2016-05-15 10:51:10] null : I dont even know what DAO is
[2016-05-15 10:51:20] null : its very vague to me at this point
[2016-05-15 10:51:42] null : is Vitalik behind it? https://daohub.org/curator.html
[2016-05-15 10:53:00] BitMEX_Wally : No, he's just been appointed a curator, which comes with very little power
[2016-05-15 10:53:36] null : who is behind it then?
[2016-05-15 10:54:21] BitMEX_Wally : https://slock.it/team.html
[2016-05-15 10:54:22] ggwp : null: slock.it
[2016-05-15 10:55:39] null : interesting
[2016-05-15 12:13:21] REKT : Liquidated long on `ETHXBT`: Sell 310 @ 0.02192
[2016-05-15 12:13:21] REKT : Liquidated long on `ETHXBT`: Sell 30 @ 0.02196
[2016-05-15 12:16:22] Franzweiss : why you took away the daily and weekly contracts?
[2016-05-15 12:16:54] Franzweiss : will you put it back soon?
[2016-05-15 12:21:03] BitMEX_Wally : Franzweiss: To consolidate liquidity in `XBTUSD`
[2016-05-15 12:22:19] Franzweiss : ok I see... but then we need to have a 3 months and 6 monts contracts.
[2016-05-15 12:22:57] BitMEX_Wally : You can trade `XBTM16` and `XBTU16`
[2016-05-15 12:23:54] Franzweiss : yew, I am doing it.. but please go on with this contracts, December ect.... that is usefull.
[2016-05-15 12:24:13] Franzweiss : yes
[2016-05-15 12:25:48] Franzweiss : will you offer this contracts later in the year?
[2016-05-15 12:26:04] BitMEX_Wally : If people are trading `XBTU16` then we will launch a December contract
[2016-05-15 12:27:14] Franzweiss : well open value for M16 is growing... and in a few days I will strat trading U16, quite a quantity
[2016-05-15 12:27:43] Franzweiss : start
[2016-05-15 12:28:21] Franzweiss : if you wish I can concentrate more volumes on U16
[2016-05-15 12:29:16] Franzweiss : by concentrating on bitmex.
[2016-05-15 12:32:03] subjective : when does DAO mark price update? shouldn't it be at 1.05 already?
[2016-05-15 12:32:48] BitMEX_Wally : We will update the mark price to match the price the future is trading at
[2016-05-15 12:33:22] BitMEX_Wally : But just because the DAO offer price is raised does not mean the DAO becomes more valuable
[2016-05-15 12:33:48] BitMEX_Arthur : If you read the docs, each DAO holds 0.01 ETH
[2016-05-15 12:33:54] subjective : BitMEX_Wally: isn't it trading at 0.011 already?
[2016-05-15 12:34:07] BitMEX_Arthur : If you pay 0.01 ETH for 1 DAO, the extra goes into some sort of slush fund
[2016-05-15 12:34:16] BitMEX_Arthur : It doesn't increase the intrinsic value of DAO
[2016-05-15 12:40:36] REKT : Liquidated short on `ETHXBT`: Buy 94 @ 0.02197
[2016-05-15 12:55:03] giviz : hello
[2016-05-15 12:55:32] giviz : I'm confused with my current DAO position, I'm used to trade on polo and that's my first trade here, I'm don't really understand my current P/L
[2016-05-15 12:56:24] BitMEX_Arthur : `DAOETH` is a quanto contract, basically that means we take a fixed Bitcoin multiplier of 1 and apply it to the nominal `DAOETH` price
[2016-05-15 12:56:50] BitMEX_Arthur : so if you buy at 0.01 ETH and it rises to 0.02 ETH, you have made 0.01 Bitcoin
[2016-05-15 12:57:26] BitMEX_Arthur : It is a little different than trading on polo because there is no concept of the profit and loss currency being different than the quote currency
[2016-05-15 12:58:13] BitMEX_Arthur : for the same example, if you were trading DAOETH on polo, your profit would be 0.01 ETH because that is the currency the pair is quoted in
[2016-05-15 12:58:15] giviz : So I'm buy 30 contracts at 0.0112 and now it'at 0.01 so I'm in a 0.036 loss, is that correct ?
[2016-05-15 12:58:37] BitMEX_Arthur : That is where the price is marked, we will be updating that periodically to match where the futures contract is trading
[2016-05-15 12:58:53] BitMEX_Arthur : so say you bought at 0.0112, the price is 0.01186 on the bid
[2016-05-15 12:58:59] BitMEX_Arthur : so you could sell your 30 contracts at a profit
[2016-05-15 13:00:13] giviz : The part that confuse me is the Mark Price column
[2016-05-15 13:00:28] BitMEX_Wally : DAO tokens can be turned back into ETH at a price of 0.01
[2016-05-15 13:00:33] BitMEX_Wally : So that is what we are currently using as the mark price
[2016-05-15 13:02:20] giviz : tomorrow DAO price will be higher, with that Mark Price change and how will that affect my position ?
[2016-05-15 13:02:46] BitMEX_Wally : Just because they are going to sell them at a higher price does not mean they worth more
[2016-05-15 13:02:48] giviz : s/with/will
[2016-05-15 13:03:02] giviz : ok
[2016-05-15 13:03:07] BitMEX_Wally : The mark price is just used for calculating unrealised PNL and triggering liquidations
[2016-05-15 13:03:27] giviz : so it's just an indication, not really the main thing to focus on
[2016-05-15 13:03:30] BitMEX_Wally : Yeah
[2016-05-15 13:03:33] giviz : ok !
[2016-05-15 13:03:47] BitMEX_Arthur : If you want to take profit, focus on where you can sell your contracts in the market
[2016-05-15 13:04:14] giviz : now what's the != between Unrealised PNL and realised PNL ?
[2016-05-15 13:04:30] giviz : at this point I don't want, I'm just trying to figure out how your plateform operate
[2016-05-15 13:04:52] giviz : sorry for the noob questions ^^
[2016-05-15 13:04:55] BitMEX_Arthur : If you have a position in profit, you have unrealised pnl because you haven't closed it yet. Once you close it, you will realise your profit
[2016-05-15 13:05:32] BitMEX_Arthur : Realised profit is yours to withdraw or re-leverage on additional contracts
[2016-05-15 13:06:25] giviz : that's fees ?
[2016-05-15 13:08:09] giviz : just seen that you've made some videos to explain some of that stuff on youtube, I will start by watching this ^^
[2016-05-15 13:10:24] BitMEX_Wally : If you buy and then sell, that is realised PNL. If you buy and the price goes up/down, that is unrealised PNL until you lock it in by selling
[2016-05-15 13:10:55] giviz : I see :)
[2016-05-15 13:12:07] giviz : I've -0,0006XBT as Realized PNL and I've only bought, that's why I found that confusing (as I expected all of it to be unrealised at that point)
[2016-05-15 13:12:35] BitMEX_Wally : That's fees
[2016-05-15 13:13:05] giviz : ok, that was my idea of it ^^
[2016-05-15 13:37:15] j8 : so if you buy the presale now and sell the future you can lock in a 20% gain over 40 days?
[2016-05-15 13:38:00] BitMEX_Arthur : Correct, you still have to hedge your ETH/XBT risk but `ETHXBT` is here to the rescue
[2016-05-15 13:39:40] j8 : that's a massive premium
[2016-05-15 13:40:22] BitMEX_Arthur : The fact that DAO has 12.5% of the ETH float tied up in their ICO is insane as well
[2016-05-15 13:40:30] j8 : it is
[2016-05-15 13:40:34] BitMEX_Arthur : You can see the effects of that on the ETHXBT funding rate
[2016-05-15 13:40:50] BitMEX_Arthur : longs get paid 55bps today
[2016-05-15 13:45:28] vip : anyone here?
[2016-05-15 13:48:32] BitMEX_Wally : vip: Hello
[2016-05-15 13:49:03] vip : how can i buy bitcoin here??
[2016-05-15 13:49:14] BitMEX_Wally : You can't
[2016-05-15 13:49:26] BitMEX_Wally : You have to deposit Bitcoin on BitMEX and then you can trade our products
[2016-05-15 13:49:30] vip : oo my bad
[2016-05-15 14:44:28] babybaby : DAO gonna go up, ETH and BTC down
[2016-05-15 15:38:38] casacup : is there a way to watch charts on the desktop site?
[2016-05-15 15:38:41] casacup : i can't find it on the page
[2016-05-15 15:38:46] casacup : is that even possible?
[2016-05-15 15:50:33] BitMEX_Wally : casacup: If you cannot see the charts on BitMEX then click on your username in the top right and click 'Reset Layout'
[2016-05-15 16:08:08] casacup : thanks for the answer!
[2016-05-15 16:14:28] Juba : charts dont work in dark theme
[2016-05-15 16:31:55] messiaen8844 : Really nice liquidity on Btcusd, now this is a major improvement
[2016-05-15 16:36:05] Juba : wonder when stop loss is coming
[2016-05-15 16:39:15] BitMEX_Wally : Juba: We already support Stop orders
[2016-05-15 16:39:16] BitMEX_Wally : And trailing Stops
[2016-05-15 16:39:32] BitMEX_Wally : In the order drop down choose 'Stop Market'
[2016-05-15 16:41:58] giviz : How often are the Mark Price and uPNL calculated ?
[2016-05-15 16:42:32] BitMEX_Wally : Every few seconds
[2016-05-15 16:44:14] Juba : stop loss order? not take profit order
[2016-05-15 16:44:29] BitMEX_Wally : A take profit order is just a limit order
[2016-05-15 16:44:37] giviz : so with a Mark price != from the actual traded price, their is no displayed informations of the value of the position if it was market close right now ?
[2016-05-15 16:44:51] Juba : I want a stop loss not a take profit
[2016-05-15 16:45:10] BitMEX_Wally : Juba: If you are long then place a Stop Market order to sell
[2016-05-15 16:46:06] BitMEX_Wally : giviz: Yes, however there is a PNL Calculator you can use, click the calculator icon next to the Order dropdown
[2016-05-15 16:47:15] Juba : I want an order to trigger to cut my losses not take profit.. lets say I long 457.34 and if price drops below 450 I want to exit automatically
[2016-05-15 16:47:19] giviz : nice, that will do the trick :)
[2016-05-15 16:47:51] REKT : Liquidated long on `ETHXBT`: Sell 2 @ 0.02191 :punch: :whale:
[2016-05-15 16:49:27] BitMEX_Wally : Juba: Right, so you want a Stop Market order to sell with a StopPx of 450
[2016-05-15 16:49:40] Juba : why not just keep the normal order types and names as any other exchange.. not like ppl come here to trade because your amazing non logical order
[2016-05-15 16:50:26] BitMEX_Wally : I have never heard of a Stop order being called a take profit before. That is completely the wrong direction
[2016-05-15 16:53:34] giviz : Margin Required/Available 0.0910/0.5157 XBT, but when I try to add a new order of 0.2384xbt of value, it's refused, why as I have 0.5157 available ?
[2016-05-15 16:54:08] Juba : lol Wally thats not what I said, im not calling it take profit
[2016-05-15 16:54:21] Juba : I just want a simple stop loss order
[2016-05-15 16:54:24] Juba : thats it
[2016-05-15 16:54:30] BitMEX_Wally : Ok a simple Stop Loss order is a simple Stop order
[2016-05-15 16:54:44] BitMEX_Wally : The fact you are using it to exit a position (and reduce loss) is irrelevant
[2016-05-15 16:54:51] BitMEX_Wally : You can use a simple Stop order to enter a position if you wanted
[2016-05-15 16:55:43] BitMEX_Wally : So, Stop Loss == Stop. Now the question is what kind of order do you want to trigger once the price reaches your stop price? A market order or a limit order? Hence why 'Stop Market' and 'Stop Limit' are options
[2016-05-15 16:59:19] Juba : if I long I want it to exit below the price I entered ,
[2016-05-15 16:59:59] Johnster : BitMEX_Wally: What's the ticker id on TradingView for PS100x ?
[2016-05-15 17:02:41] BitMEX_Wally : Juba: Yes, so you want a Stop Market order to sell. And it will trigger once the price is below the stop price
[2016-05-15 17:03:17] BitMEX_Wally : giviz: The error message was 'Executing at order price would lead to immediate liquidation'. Please try reducing leverage
[2016-05-15 17:03:49] Juba : Wally you dont see how your system is confusing?
[2016-05-15 17:04:26] BitMEX_Wally : Juba: How would you enter a Stop Loss on another system?
[2016-05-15 17:05:49] BitMEX_Wally : Johnster: TradingView seem to hard code our list of instruments rather than using the API, so XBTUSD is not there.
[2016-05-15 17:06:12] Juba : Wally, did you make this system?
[2016-05-15 17:07:14] BitMEX_Wally : We use the FIX standard for order types which is used to communicate between trading systems at all banks, exchanges, brokers, etc
[2016-05-15 17:07:16] BitMEX_Wally : http://www.fixtradingcommunity.org/FIXimate/FIXimate3.0/en/FIX.5.0SP2/tag40.html
[2016-05-15 17:09:08] Juba : maybe the code for execution, in practice its a mess
[2016-05-15 17:09:30] BitMEX_Wally : How could we improve the UI?
[2016-05-15 17:09:59] Juba : by not overthinking things make it simple
[2016-05-15 17:11:33] BitMEX_Wally : Take the example of setting a stop loss order
[2016-05-15 17:11:57] BitMEX_Wally : You have to choose 'Stop Market' because that's the order type. You have to type a stop price in, and then click a button
[2016-05-15 17:12:01] BitMEX_Wally : How would you make it simpler
[2016-05-15 17:13:34] Juba : red button for a buy order for startes
[2016-05-15 17:14:13] Juba : set sell stop? am I setting stop order for my sell/short ?
[2016-05-15 17:17:01] BitMEX_Wally : So just like we have a simple order called 'Close Market' (that only appears if you have a position). We could have another one called 'Close Stop Loss'
[2016-05-15 17:17:17] BitMEX_Wally : Which asks for the Stop Price, and has big red button
[2016-05-15 17:27:46] BitMEX_Wally : Juba: Thanks for the feedback
[2016-05-15 17:30:04] Juba : take a look at simplefx and how they done the orders. and how you can set stop loss and take profit directly on the chart. and move them around freely
[2016-05-15 17:30:41] messiaen8844 : BitMEX_Wally: can I set a start order? I guess I could do a Sell Stop, but that's not possible unless I have already a short position?
[2016-05-15 17:32:08] BitMEX_Wally : messiaen8844: You can set a sell stop without a position
[2016-05-15 17:33:44] messiaen8844 : both stops are disable when I don't have a position
[2016-05-15 17:36:15] messiaen8844 : you might want to improve how this behaves, I found a way
[2016-05-15 17:36:37] messiaen8844 : I need to click on a BID or ASK to enable the buy/sell stops buttons
[2016-05-15 17:36:44] messiaen8844 : otherwise they are disabled
[2016-05-15 17:38:03] BitMEX_Wally : messiaen8844: You can't set a Stop order that will immediately be triggered
[2016-05-15 17:38:28] BitMEX_Wally : So you have to choose a Stop Price that is above or below the current mark price
[2016-05-15 17:38:43] messiaen8844 : ah, ok, that makes sense
[2016-05-15 17:39:10] BitMEX_Wally : Click the bid and ask just changes the Stop Price
[2016-05-15 17:50:51] REKT : Liquidated long on `ETHXBT`: Sell 16 @ 0.02187
[2016-05-15 18:00:16] haxmb : BitMEX_Wally: how is the mark price for DAOETH decided?
[2016-05-15 18:04:13] messiaen8844 : when does ETH_BTCH_DAO goes online on Polo?
[2016-05-15 18:06:16] BitMEX_Sam : messiaen8844: Should be 28 May
[2016-05-15 18:06:29] BitMEX_Sam : haxmb: It's set to the original ICO price of 1 ETH per 100 DAO tokens, or 0.01
[2016-05-15 18:06:43] BitMEX_Sam : When trading launches it will be set to the market price on Polo
[2016-05-15 18:27:03] haxmb : BitMEX_Sam: ok, and there will be no marking in between?
[2016-05-15 18:27:19] haxmb : like the current price of DAO if you buy the tokens
[2016-05-15 18:27:49] BitMEX_Sam : No - the reasoning for this is that the value doesn't go up just because the single source is selling them for more
[2016-05-15 18:27:57] BitMEX_Sam : e.g. if I sell you a dollar yesterday for $1, then today for $1.05, what is the value?
[2016-05-15 18:28:10] BitMEX_Sam : Since there is no secondary market for buying or selling these tokens yet, we consider the price to still be 1 per 100
[2016-05-15 18:28:24] j8 : it's marked with a fair basis now, maybe you didn't see sam.
[2016-05-15 18:29:39] BitMEX_Sam : Ah you're correct. Wally must have changed something. I've been out of the house all day
[2016-05-15 18:29:45] BitMEX_Sam : My apologies for the false information.
[2016-05-15 18:29:56] BitMEX_Sam : I'll check with him and verify what the policy is
[2016-05-15 18:33:36] daveberns1 : but the selling price should in theory set some sort of peg
[2016-05-15 18:33:49] daveberns1 : which may or may not hold when selling period ends
[2016-05-15 18:34:35] j8 : it sets a ceiling for the "spot price" now, but not a floor
[2016-05-15 18:35:40] daveberns1 : since there will be no more sold after selling period, could in fact be a floor
[2016-05-15 18:35:52] daveberns1 : but will have to wait and see
[2016-05-15 18:41:41] j8 : i said the spot price _now_, as in you wouldn't pay more than what they're selling it for (except you might pay more for leverage, like here). and something that _could be_ a floor, isn't. my understanding is that you won't always be able to redeem them for 0.01 eth once the fund starts using them
[2016-05-15 18:44:55] daveberns1 : sure