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.

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[2015-08-08 10:58:01] splash : of course price can only go down :-)
[2015-08-08 11:00:43] atleticofa : Exactly, there are only 24k right now on Poloniex in the sell orders... Imagine when some millions will arrive there..
[2015-08-08 11:17:37] KB : going to be really interesting how far this drops
[2015-08-08 11:17:49] KB : how many hours until the other exchanges start trading?
[2015-08-08 11:17:59] chromaticcr : this is going to be fun
[2015-08-08 11:33:37] splash : atleticofa: hard to know if you're short or buying a lot
[2015-08-08 11:35:08] splash : atleticofa: for instance why would millions of eth be heading towards exchanges?
[2015-08-08 11:36:39] chromaticcr : imagine you came across some forgotten stuff on reddit, says your investment grown by 10x, most would find a way to dump intuitively
[2015-08-08 11:37:46] chromaticcr : you'll have to be a fanboy to not sell a dime of ETH to the market
[2015-08-08 12:10:36] chromaticcr : Is the fair price broken or waht
[2015-08-08 12:10:44] chromaticcr : of ETH
[2015-08-08 12:11:09] j8 : a little bit.
[2015-08-08 12:11:39] j8 : there's a big discount set for the fair basis rate
[2015-08-08 12:11:58] chromaticcr : how was it caluclated?
[2015-08-08 12:12:07] chromaticcr : anyone knows the fair basis of it?
[2015-08-08 12:12:17] j8 : click expand on instruments
[2015-08-08 12:12:22] j8 : scroll right
[2015-08-08 12:12:41] BitMEX_Wally : The fair basis rate is adjusted to reflect the price the future is trading at
[2015-08-08 12:15:47] j8 : it would be great if you guys could come up with something that doesn't require manual intervention. it's really arbitrary and unexpected when it happens
[2015-08-08 12:16:26] j8 : i'm pretty sure it triggered liquidations on `ETH7D` when the basis changed
[2015-08-08 12:17:10] j8 : and is the main reason we have socialized losses at the moment
[2015-08-08 12:19:33] BitMEX_Wally : The basis is adjusted to keep the fair price inside the bid/offer in general. So if this does trigger a liquidation then that liquidation have happened sooner under a mark to last price system
[2015-08-08 12:20:16] BitMEX_Wally : *would have happened
[2015-08-08 12:21:08] j8 : yes, and it would have filled.
[2015-08-08 12:22:43] BitMEX_Wally : The maintenance margin is 2% and the spread is wider than that
[2015-08-08 12:22:57] BitMEX_Wally : So it wouldn't have filled
[2015-08-08 12:24:27] j8 : well, this market had a pretty gradual drop. it's just that the mark price didn't drop with it.
[2015-08-08 12:30:58] KB : went short again, this is going down
[2015-08-08 12:31:25] KB : look at the asks on Kraken
[2015-08-08 12:32:08] chromaticcr : FYI: "The developers may rollback the chain up to 24 hours in case of an issue. As a result, the developers asked all exchanges to wait 5760 confirms (24 hours) to credit ETH deposits in case the chain is rolled back."
[2015-08-08 12:33:14] chromaticcr : i bet most people started their deposit not long ago. I assume the coming ~ 15hours will have no new supply of ETH, but after that
[2015-08-08 12:33:43] KB : so this is bad news for ETH, right?
[2015-08-08 12:35:00] chromaticcr : good news for the coming hours. Not bad news, but "in case shit happens"
[2015-08-08 12:35:17] KB : why good news?
[2015-08-08 12:35:33] chromaticcr : coz there is no extra supply of ETH
[2015-08-08 12:35:41] KB : there is already enough
[2015-08-08 12:35:49] KB : to keep the price down
[2015-08-08 12:36:15] KB : who would buy when there are still issues with ETH?
[2015-08-08 12:36:19] chromaticcr : I mean there will be no new ETH trading in exchange in coming hours since they are on the way in confirmation
[2015-08-08 12:36:33] chromaticcr : There is no issue but this is just "in case sth happens" situation
[2015-08-08 12:37:07] chromaticcr : The developer want to minimizie everyone's loss if something wrong happens, thats why they say this
[2015-08-08 12:37:19] chromaticcr : No code is bug free after all
[2015-08-08 12:37:23] KB : ah, i see
[2015-08-08 12:37:44] KB : we know what happened when bugs in Bitcoin were discovered
[2015-08-08 12:37:52] chromaticcr : But if it actually happens. Everyone can hve fun shorting
[2015-08-08 12:38:01] j8 : and it's not a simple bitcoin clone, lots that could go wrong
[2015-08-08 12:38:33] KB : I would say Etherium is much more complex with their own byte code, compiler and all
[2015-08-08 12:38:38] chromaticcr : If there is quarter contract for this, I would be a damn shorter
[2015-08-08 12:39:03] chromaticcr : look what the market is doing now with no GUI client for everyone to cashout
[2015-08-08 12:39:51] chromaticcr : If there is a easy-to-use wallet. Most retail/non-serious ETH buyers will start to cashout
[2015-08-08 12:41:25] j8 : had some nice timing on `BVOL24H` today
[2015-08-08 12:42:10] j8 : buying in the first 5 mins
[2015-08-08 12:43:58] j8 : back to something i understand, lol
[2015-08-08 12:46:43] VanCleef : ether just another pump and dump scheme
[2015-08-08 12:49:39] chromaticcr : not actually a P/D, but just bunch'a idiots speculating its value as 10-20x of what it is sold for
[2015-08-08 12:51:19] VanCleef : yeah which is silly if you read the dev chat that got leaked
[2015-08-08 12:51:56] chromaticcr : is there any link to that?
[2015-08-08 12:57:57] KB : what did it say?
[2015-08-08 13:09:31] chromaticcr : http://cointelegraph.com/news/115034/ethereum-launches-but-leaked-chat-says-project-needs-years-more
[2015-08-08 13:10:01] chromaticcr : no wonder they launch now
[2015-08-08 13:10:19] chromaticcr : the purpose is to gather more money by selling what they have on hands
[2015-08-08 13:11:23] BitMEX_Sam : Ouch.
[2015-08-08 13:14:01] aethlios : I want to ask about XLT7D: Does it have insurance fee? How many sessions are for every 24 hours? So what total insurance fee I pay for 24 hours holding XLT7D. Thanks.
[2015-08-08 13:15:19] BitMEX_Sam : aethlios: Insurance fees *only* apply on XBU contracts under the "Trader" fee schedule
[2015-08-08 13:15:33] BitMEX_Sam : All other contracts do not have those recurring fees.
[2015-08-08 13:15:48] BitMEX_Sam : And in any case, until September, there are 0 fees.
[2015-08-08 13:16:42] BitMEX_Sam : We've simplified the fees page (https://www.bitmex.com/app/fees) to reflect that. For now we've taken out the insurance fee while we figure out how to simplify the model
[2015-08-08 13:19:01] aethlios : BitMEX_Sam: Nice, so no insurance fee for XLT7D, just the DPE system in effect. Right?
[2015-08-08 13:19:10] BitMEX_Sam : aethlios: Correct
[2015-08-08 13:27:50] j8 : ooh a 1 contract bot on `eth`
[2015-08-08 13:28:12] BitMEX_Sam : Ah somebody's filling up the spread
[2015-08-08 13:33:10] BitMEX_Sam : With the dump in ETH price we think the tick size is getting too large - FYI we're going to add another decimal point
[2015-08-08 13:47:52] chrisxbt : interesting 26% price adjustment
[2015-08-08 13:48:10] BitMEX_Sam : It may calm down as orders fill
[2015-08-08 13:48:26] BitMEX_Sam : That's an indicative rate representing a worst-case if the liquidation orders in the book don't fill
[2015-08-08 13:48:43] BitMEX_Sam : If we have a retrace it will likely go back down
[2015-08-08 14:26:13] atleticofa : I think ETH will go lower than 0.001
[2015-08-08 14:34:33] chromaticcr : atleticofa: my take - yes but not the coming month
[2015-08-08 14:41:33] j8 : so the short term supply is huge, and the long term supply is unlimited...
[2015-08-08 14:42:12] j8 : and high demand is a long ways away
[2015-08-08 15:24:52] ksinvest : BitMEX_Sam: don't know if you saw this yesterday. there is a problem with "Open Interest" on the advanced dashboard. my mm bot was counterparty to every trade (42, 1 and 300) on XBU24H yesterday from settlement until 20:58:57 UTC. Open Interest was shown as 300 but should have been 257
[2015-08-08 15:42:32] BitMEX_Wally : ksinvest: I've had a look at the trading records and you are correct the open interest was 257
[2015-08-08 15:44:18] j8 : your bot didn't buy from itself, did it?
[2015-08-08 15:44:35] BitMEX_Wally : I can't see why (or if) we displayed 300
[2015-08-08 15:44:54] j8 : disregard my comment.
[2015-08-08 15:45:44] BitMEX_Wally : XBU24H had an open interest of 300 at settlement
[2015-08-08 15:46:17] BitMEX_Wally : Then ksinvest did his trades, so maybe the open interest was not updating
[2015-08-08 15:46:46] BitMEX_Wally : ksinvest: Did you get 300 from the API or frontend?
[2015-08-08 15:48:03] j8 : come to think of it i've seen an issue like this, but it was the 24H Turnover that was wrong
[2015-08-08 15:48:21] j8 : and it was counting the previous settlement.
[2015-08-08 15:50:16] j8 : on the frontend. i think it was `XBU24H` also
[2015-08-08 15:53:24] ksinvest : from the frontend, seems to be something similar to the missing trade in "Recent trade" that Sam fixed yesterday.
[2015-08-08 15:55:46] BitMEX_Wally : That missing trade issue was due to how we publish market data. This open interest would have been something else
[2015-08-08 15:56:15] BitMEX_Wally : If you guys see it again please try a) Refreshing your browser b) Checking via the API call, and of course c) Tell us about it
[2015-08-08 16:00:22] ksinvest : BitMEX_Wally: did a lot of refreshing, open interest was also updating in near real-time to 313 (should have been 270) after the next trade - will keep an eye on it. no big issue anyway.
[2015-08-08 16:06:33] mitior : hi
[2015-08-08 16:06:44] BitMEX_Arthur : mitior: Hi
[2015-08-08 16:08:37] ksinvest : BitMEX_Wally: maybe you can solve it by looking at today's settlement. it shows 323 in "recent trades"- that's not possible if you say "open interest" was 257 at 21:00:00 UTC yesterday.
[2015-08-08 16:08:37] mitior : eth inddex?
[2015-08-08 16:08:45] mitior : where to find it?
[2015-08-08 16:09:00] BitMEX_Arthur : https://www.bitmex.com/app/index/.ETHXBT
[2015-08-08 16:09:44] mitior : ref exchange?
[2015-08-08 16:09:51] BitMEX_Arthur : Kraken
[2015-08-08 16:09:57] mitior : thanks
[2015-08-08 16:11:39] BitMEX_Wally : ksinvest: Actually the open interest was not 257 after your trades
[2015-08-08 16:12:02] BitMEX_Wally : It was 300, there were 4 traders with positions 42, -300, 257, 1
[2015-08-08 16:13:21] BitMEX_Wally : You were the long 257
[2015-08-08 16:15:29] BitMEX_Wally : Total longs 42+257+1= 300 total shorts
[2015-08-08 16:16:23] j8 : what was that notification that just flashed up about `ETH7D`? was awfully fast
[2015-08-08 16:16:56] BitMEX_Arthur : `ETH7D` will now use the last traded price on the futures contract for purposes of margin and unrealised pnl calculations
[2015-08-08 16:18:22] SnackyCoins : what is the reference exchange for ETH?
[2015-08-08 16:18:27] BitMEX_Arthur : Kraken
[2015-08-08 16:19:02] SnackyCoins : seems like a legit choice :)
[2015-08-08 16:20:35] ksinvest : BitMEX_Wally: you are absolutely right. sorry for wasting your time. i thought if i was long 257 and did all the trades somebody else had to be 257 short...
[2015-08-08 16:21:01] BitMEX_Wally : ksinvest: I made the same mistake at first, I just checked what your position was
[2015-08-08 16:21:12] BitMEX_Wally : Glad we cleared that up :)
[2015-08-08 16:21:14] splash : i think price will go up from here
[2015-08-08 16:24:26] j8 : i think a more visible notification is in order if you're changing the liquidation rules while people have open positions
[2015-08-08 16:58:22] KB : the price in ETH7D changes in a weird way when I type past 4 decimal points
[2015-08-08 16:58:44] KB : it happens while I type in the price
[2015-08-08 17:00:16] j8 : seems normal for me
[2015-08-08 17:10:48] krtek.net : Bugreport: Open position list mark price column values are missing traling zeros.
[2015-08-08 17:12:11] krtek.net : besides that on my ETH7D position is shows 0.0025 as a mark price but the selected contract widget is reporting 0.00380 (0.00250 is a last price)
[2015-08-08 17:12:47] j8 : krtek.net: they switched it on us.
[2015-08-08 17:13:33] krtek.net : ha, mark price and indicative settlement price are different things, sorry
[2015-08-08 17:13:37] BitMEX_Wally : The selected contract widget gives both the last price and the indicative settlement price
[2015-08-08 17:14:15] krtek.net : anyways, the trailing zeros are not there in th emark price :)
[2015-08-08 17:15:39] BitMEX_Wally : Yes, noted, I'll get BitMEX_Sam to look into it
[2015-08-08 17:16:03] krtek.net : the order of the positions is not the same after reload (they are sorted in the start, but the new ones are probably just added to the end).
[2015-08-08 17:20:22] krtek.net : ETH7D chart is showing garbage (old data?), controll is stucked, nothing useful can be done with the widget.
[2015-08-08 17:22:10] krtek.net : Caused by: Uncaught RangeError: unexpected base, I'm sure you will be able to replicate this.
[2015-08-08 17:22:58] krtek.net : should I be using github issues for this?
[2015-08-08 17:24:46] j8 : just opened the javascript console... sam's a wizard
[2015-08-08 17:26:19] krtek.net : j8: do you want to see really sorcery? try this in your console (proly chrome only) console.log('%cHello!', 'font-size: 200%; color: red');
[2015-08-08 17:26:52] j8 : that doesn't steal my bitcoins does it.
[2015-08-08 17:27:08] krtek.net : somebody else should answer that, but it won't :)
[2015-08-08 17:27:18] j8 : alt-f4 for infinite lives!
[2015-08-08 17:27:33] BitMEX_Wally : Maybe 0.00001 is too small for the charting library
[2015-08-08 17:29:02] krtek.net : plausible, but the solution is obvious if TV won't be villing to fix this.
[2015-08-08 17:50:05] chromaticcr : dont think so. Forex got much more dp
[2015-08-08 18:14:49] BitMEX_Wally : Might be a brief outage
[2015-08-08 18:14:59] BitMEX_Wally : I'm pushing a fix to the TV charts
[2015-08-08 18:17:22] krtek.net : verified
[2015-08-08 18:17:30] krtek.net : good job
[2015-08-08 18:17:30] BitMEX_Wally : Thanks guys
[2015-08-08 18:17:52] j8 : somethings wrong wally
[2015-08-08 18:17:56] j8 : this chart only goes down
[2015-08-08 18:19:16] BitMEX_Wally : j8: That's only wrong if you're long
[2015-08-08 18:19:21] krtek.net : another one: charts seems to be missing the last candle.
[2015-08-08 18:19:50] krtek.net : ETH7D on 1H has the last cancle with close at 0.00229, which is way off
[2015-08-08 18:20:45] chromaticcr : lol kraken
[2015-08-08 18:20:47] krtek.net : hmm... shortered than 1H seems to be right
[2015-08-08 18:22:32] BitMEX_Wally : Last trade in that 1 hour bin was at 17:48:46.687 UTC with price 0.00229
[2015-08-08 18:22:53] BitMEX_Wally : So the 18:00 UTC candle has close of 0.00229
[2015-08-08 18:23:49] krtek.net : but the unfinishedcandle is not shown
[2015-08-08 18:23:51] BitMEX_Wally : I think Sam might do some magic to add the 'current' candle to the graph
[2015-08-08 18:24:05] krtek.net : :)
[2015-08-08 18:29:22] krtek.net : "what's that diamond thing?"........"oh this...........it was the betamax of crypto when it started."
[2015-08-08 18:33:09] atleticofa : https://www.etherchain.org/account/0x5abfec25f74cd88437631a7731906932776356f9
[2015-08-08 18:33:12] atleticofa : what is this?
[2015-08-08 18:33:20] atleticofa : 1/6 of the total supply?
[2015-08-08 18:33:21] atleticofa : wtf
[2015-08-08 18:34:43] j8 : wow
[2015-08-08 18:34:59] j8 : devs?
[2015-08-08 18:35:11] chromaticcr : lets see where it is going
[2015-08-08 18:36:53] j8 : came from the genesis block. the biggest individual sale was 1 million
[2015-08-08 18:39:57] chromaticcr : goin to a new contract thing. well, that means not an address of exchange XDD
[2015-08-08 18:41:24] KB : ETH still going down hard
[2015-08-08 18:42:05] j8 : i'm not sure, kraken had some complicated procedure to send funds from the presale, could be that
[2015-08-08 18:42:06] chromaticcr : 'as expected'
[2015-08-08 18:42:42] j8 : but that has to be the dev fund.
[2015-08-08 18:43:32] j8 : you'd be out of your mind to try to sell anywhere near that much.
[2015-08-08 18:43:52] chromaticcr : if so might it be the dev's fund going to a [New Code] that, for say, perpetually distribute the fund of [code] until spent
[2015-08-08 18:44:21] chromaticcr : just to reward the dev but not to make too much impact to the market as j8 says
[2015-08-08 18:44:34] chromaticcr : plus, of course, to show off themselves
[2015-08-08 18:54:48] j8 : imagine they lost it, or locked it up forever in a contract
[2015-08-08 18:55:42] j8 : would be great to see the market react
[2015-08-08 19:33:38] krtek.net : https://forum.ethereum.org/discussion/2832/security-alert-affecting-windows-users-of-the-alethzero-gui-client?new=1
[2015-08-08 19:33:43] krtek.net : ILSHIBAMF
[2015-08-08 19:34:11] krtek.net : (this is actually a good news) :D
[2015-08-08 20:04:35] KB : Gross Value in Open Orders includes cancalled order
[2015-08-08 20:04:43] KB : these should be excluded
[2015-08-08 21:52:50] darkshinyshadow : Withdrawals are done once a day...?
[2015-08-08 21:53:32] darkshinyshadow : And can't be cancelled once you read the fine print?
[2015-08-08 21:53:47] darkshinyshadow : Don't think I'll be depositing here again.
[2015-08-08 21:54:41] BitMEX_Sam : Yes, they are done once a day, we mention this on the withdrawal page. More info here: https://www.bitmex.com/app/security#wallet-security
[2015-08-08 21:54:45] darkshinyshadow : Putting a 24 hour lock on withdrawals; on a cryptocurrency that was created to circumvent the process banks use, like slow ACH transfers... seems pretty counterintuitive to me.
[2015-08-08 21:55:17] Blargwaffle : This isn't a decentralized exchange, heh.
[2015-08-08 21:55:21] BitMEX_Sam : It's not 24 hours, they are simply processed daily at 12 UTC because they are processed by hand to ensure the security of the system. If you input a withdrawal at 11:50 UTC, it will be processed in the batch and received within an hour
[2015-08-08 21:55:40] darkshinyshadow : still, I wouldn't chalk that up under "security"
[2015-08-08 21:55:43] BitMEX_Sam : Unfortunately hot wallets have proven time and again to be the weakest part of a cryptocurrency exchange, and the most frequently exploited
[2015-08-08 21:55:48] darkshinyshadow : there's no other exchange that does this.
[2015-08-08 21:55:56] darkshinyshadow : As far as I am awar.
[2015-08-08 21:55:58] BitMEX_Sam : I completely disagree. Manual review of withdrawals is vital to keeping a solvent exchange.
[2015-08-08 21:55:59] darkshinyshadow : aware*
[2015-08-08 21:56:31] darkshinyshadow : Well if you're present now, why don't you just process the withdrawals? I suppose I am confused by the time you've set as the designated "this is a safe time to withdraw"
[2015-08-08 21:56:32] BitMEX_Sam : I don't know of any others but I wouldn't be surprised. Many run a hybrid hot/cold wallet which we are considering. Under that system limited funds could be withdrawn immediately but daily limits would be set for the system and per user
[2015-08-08 21:56:49] BitMEX_Sam : Actually I couldn't process them right now because it takes a majority of partners.
[2015-08-08 21:57:07] BitMEX_Sam : I actually don't have in my possession the keys to release them, it takes at least two principals to do that.
[2015-08-08 21:57:24] BitMEX_Sam : I can, however, cancel the withdrawal if you wish to keep trading with the Bitcoin until 12 UTC.
[2015-08-08 21:57:30] darkshinyshadow : That would be great.
[2015-08-08 21:57:34] darkshinyshadow : Thank you.
[2015-08-08 21:57:36] BitMEX_Sam : Sure.
[2015-08-08 22:01:18] BitMEX_Sam : darkshinyshadow: You're good to go.
[2015-08-08 22:01:41] darkshinyshadow : Thank you for the very responsive support.
[2015-08-08 22:02:30] BitMEX_Sam : Sure. Glad you caught me now, I'm usually not around on a Saturday afternoon - if you don't get a quick response in the future, send an email. It'll ping our phones.
[2015-08-08 22:02:48] darkshinyshadow : Perfect; thank you. Interesting to see you added ETH
[2015-08-08 22:02:52] darkshinyshadow : Wasn't expecting that.
[2015-08-08 22:03:05] darkshinyshadow : are you adding more speculative assests in the future?
[2015-08-08 22:03:15] BitMEX_Sam : Yeah, we've been watching the project for a while. Thought it would be interesting to watch, and it has been.
[2015-08-08 22:03:20] BitMEX_Sam : Likely, yes
[2015-08-08 22:03:25] darkshinyshadow : Very interesting.
[2015-08-08 22:03:29] BitMEX_Sam : Our DPE update enabled us to do a lot more speculative contracts.
[2015-08-08 22:03:59] darkshinyshadow : DPE? - sorry, terminology newbie.
[2015-08-08 22:04:16] BitMEX_Sam : Because they're not a risk to the exchange, technically we could list anything that users would be willing to trade. We are just wary of doing contracts that are too niche, in case the liquidity would be too low to trade.
[2015-08-08 22:04:29] BitMEX_Sam : Sorry DPE is our own term. It's fancy socialized losses, for the most part.
[2015-08-08 22:04:32] darkshinyshadow : Gotcha
[2015-08-08 22:05:14] BitMEX_Sam : It's an unfortunate reality of trading speculative products with high leverage. Upside may potentially be unlimited while downside is of course limited by your margin balance or isolated margin.
[2015-08-08 22:05:20] BitMEX_Sam : So something has to reconcile that.
[2015-08-08 22:05:36] darkshinyshadow : Yeah makes sense
[2015-08-08 22:05:46] darkshinyshadow : I think it's a very interesting concept what you've done,
[2015-08-08 22:06:03] darkshinyshadow : just wondering how many whales will actually come here to provide liquidity if they can't squeeze people. ;)
[2015-08-08 22:07:06] BitMEX_Sam : That remains to be seen. It's already been functioning as a nice indicator of where the market would be if it were freer
[2015-08-08 22:07:32] darkshinyshadow : Understood
[2015-08-08 22:07:43] darkshinyshadow : it's a catch 22 right now,
[2015-08-08 22:08:06] darkshinyshadow : I myself was in an LTC short yesterday I closed prematurely because I was afraid the liquidity of the books would trap me.
[2015-08-08 22:08:24] j8 : speaking of socialized losses - `ETH7D` down to 0%... how did that happen?
[2015-08-08 22:08:44] BitMEX_Sam : Ah that's great, I didn't spot that the indicative rate went down.
[2015-08-08 22:08:57] BitMEX_Sam : It means that the liquidation orders were filled and no actual systemic loss occured.
[2015-08-08 22:09:36] j8 : i thought they came in around 0.006 or 0.008... don't see how they got filled
[2015-08-08 22:09:37] darkshinyshadow : BitMEX_Sam: where is the DPE being calculated for [i'm assuming index/spot price] for something like ETH?
[2015-08-08 22:09:45] BitMEX_Sam : The displayed rate is merely indicative, it's what the loss would be if the contract settled at this very moment.
[2015-08-08 22:09:58] BitMEX_Sam : darkshinyshadow: It's based on bankruptcies, which at this time aren't being published (but we're working on that)
[2015-08-08 22:10:07] darkshinyshadow : Hmm
[2015-08-08 22:10:15] BitMEX_Sam : It doesn't have anything to do with the price, just with who has been liquidated and how bad the bankruptcy was.
[2015-08-08 22:10:19] darkshinyshadow : I see.
[2015-08-08 22:10:24] darkshinyshadow : Where else is ETH traded?
[2015-08-08 22:10:26] BitMEX_Sam : And of course if the system was able to get the user out of the position.
[2015-08-08 22:10:34] BitMEX_Sam : Kraken is the main one right now - not sure who else has taken it up
[2015-08-08 22:10:38] darkshinyshadow : Gotcha
[2015-08-08 22:10:39] BitMEX_Sam : I don't think any other exchange is doing futures yet.
[2015-08-08 22:10:43] darkshinyshadow : yeah didnt htink so
[2015-08-08 22:10:53] darkshinyshadow : It just wasn't on bittrex, so I didnt know where to look
[2015-08-08 22:10:59] GAmma : Hey Sam ... you prolly know 786xchange recently tried to launch contracts on China A50 I think ...
[2015-08-08 22:11:09] BitMEX_Sam : GAmma: Yeah we thought of doing the same.
[2015-08-08 22:11:12] GAmma : I would trade an equity index if you had it ... lol
[2015-08-08 22:11:24] Neolystic : poloniex has eth spot too
[2015-08-08 22:12:01] BitMEX_Sam : That's right, Poloniex has it - they're a nice platform
[2015-08-08 22:12:23] BitMEX_Sam : GAmma: Glad to hear it - I think it would be a very interesting product to trade
[2015-08-08 22:13:17] Blargwaffle : Options first.
[2015-08-08 22:14:26] GAmma : S&P or Hang Seng I would think ...
[2015-08-08 22:14:51] BitMEX_Sam : From an implementation standpoint, of course adding other markets would be much simpler. But options have been on our mind from the very beginning
[2015-08-08 22:14:55] BitMEX_Sam : It's a matter of liquidity so far.
[2015-08-08 22:15:02] GAmma : I traded the A50 contract for one day ...lol, I haven't seen quotes since. I think they gave up given the wild swings
[2015-08-08 22:15:10] Blargwaffle : By Options, I mean BTC. One can hope to see better spreads than Coinut.
[2015-08-08 22:15:11] centurygate : Hello
[2015-08-08 22:15:19] centurygate : I met you guys in HK in December
[2015-08-08 22:15:38] darkshinyshadow : Ah poloniex has eth, good to know. I like poloniex's UI a lot
[2015-08-08 22:15:55] centurygate : I've been troubleshooting the geth commands, stymied by a gas limit error and inability to get peers, so I'm glad I can come here to hedge
[2015-08-08 22:16:11] BitMEX_Sam : A gas limit error?
[2015-08-08 22:16:32] centurygate : I've decided to commit the capital I'm cycling out of the Ether crowd limit and start arb trading between these contracts and the spot ETH, LTC and OkCoin futures
[2015-08-08 22:17:04] centurygate : yes, like there is a limit to how much gas can be spent per block and people were spamming 500k gas transactions to get into each block
[2015-08-08 22:17:18] centurygate : however I think my issue is related to being unable to find peers to get the blockchain
[2015-08-08 22:17:26] darkshinyshadow : BitMEX_Sam, are you able to long and short at the same time on a speculative asset. Or is the system set up similarly to finex; you have to close one position to open the other.
[2015-08-08 22:17:36] centurygate : anyway I'll ask the devs in IRC Monday and figure it out, I've got a hedge on so I can focus on other things
[2015-08-08 22:18:22] BitMEX_Sam : darkshinyshadow: On a given contract, yes, you can't be both long and short - they would cancel each other out anyway.
[2015-08-08 22:18:30] BitMEX_Sam : But you can be long one expiry while being short another.
[2015-08-08 22:18:51] BitMEX_Sam : centurygate: That's interesting, I haven't tried their wallet yet.
[2015-08-08 22:18:56] darkshinyshadow : Ah I see. OKCoin allows you to open both long and short positions on LTC, that's why I was asking.
[2015-08-08 22:19:25] centurygate : it's not even a wallet, it's more like bitcoind,
[2015-08-08 22:20:00] BitMEX_Sam : darkshinyshadow: Ah, that seems like a bug or an implementation mistake to me. It doesn't make sense to be both long and short a contract.
[2015-08-08 22:20:31] GAmma : 796 exchange does that as well
[2015-08-08 22:20:45] chrisxbt : well it's a win win for them, more fees
[2015-08-08 22:20:58] j8 : just more wood for the woodchipper
[2015-08-08 22:20:58] chrisxbt : But it makes UI more complex
[2015-08-08 22:21:08] darkshinyshadow : Well it does make sense imo; if you catch the top of something, short it, long the bottom, it's playing around in the middle, you might not know which way it will really head but you're sure it'll be a big movement, you simply put a stop loss on one position as the other grows in profit making up for your loss.
[2015-08-08 22:21:13] GAmma : when you are long a contract., if you just enter a 'sell' order you will end up with both long and short positions
[2015-08-08 22:21:23] chrisxbt : Since closing is free on okcoin, I'm not sure about bitme
[2015-08-08 22:21:24] darkshinyshadow : It's actually quite a common trading practice.
[2015-08-08 22:21:31] GAmma : instead of 'sell' you have to 'close' the original posn
[2015-08-08 22:22:00] chrisxbt : Having a long and short open with stop loss is the same as have a trigger open
[2015-08-08 22:22:06] GAmma : not common in equities I think
[2015-08-08 22:22:20] darkshinyshadow : chrisxbt - similar, preference really.
[2015-08-08 22:22:54] j8 : also know as "going full nick" i believe
[2015-08-08 22:22:57] darkshinyshadow : ^
[2015-08-08 22:23:09] darkshinyshadow : It also allows for you to use cross margin, which is interesting.
[2015-08-08 22:23:22] darkshinyshadow : In volatile markets, it can certainly be a nice tool.
[2015-08-08 22:24:17] centurygate : I think the Ether will be in demand enough by profitable dApps that it will be a traded commodity if not necessarily a bullish one
[2015-08-08 22:24:33] centurygate : price discovery and liquidity are really in demand right now, it's exciting to be a part of
[2015-08-08 22:24:54] null : woah, this place is alive
[2015-08-08 22:25:02] BitMEX_Sam : null: Welcome back
[2015-08-08 22:25:06] null : much people many chats wow
[2015-08-08 22:25:21] darkshinyshadow : chrisxbt also I think there is an argument for full nicking > trigger order in a market lacking liquidity. in a market with no slippage, like forex, you are correct. but somewhere like bitmex, or any of the bitcoin exchanges really - the practice of full nicking can be significantly more profitable.
[2015-08-08 22:25:28] j8 : https://www.youtube.com/watch?v=_kwnBdWxnCk
[2015-08-08 22:26:03] null : BitMEX_Sam: I hope mex becomes a major market player, people must be tired of okc bs
[2015-08-08 22:26:28] BitMEX_Sam : The momentum in the last month has been encouraging. We're full speed ahead in development
[2015-08-08 22:26:46] centurygate : liking the 25x leverage
[2015-08-08 22:27:11] centurygate : it makes market making and statistical arbitrage that much easier
[2015-08-08 22:27:59] darkshinyshadow : Not that I use 50x, I think it's... Dangerous. But if Bitmex were to add 50x, I wonder how much of 796 consumer base would wander on over.
[2015-08-08 22:29:12] j8 : it would just increase socialized losses for those of us who use reasonable margin
[2015-08-08 22:29:20] centurygate : Back in the 80s, Solomon Brothers didn't even have a leverage ratio, it just had banks that would give it credit lines
[2015-08-08 22:32:38] GAmma : yeah, the 'too big to fail' operate at 30x - 50x on our dime ...
[2015-08-08 22:33:36] GAmma : socialize that ....
[2015-08-08 22:35:09] centurygate : Nice
[2015-08-08 22:38:42] chrisxbt : Is that 17k a margin call?
[2015-08-08 22:39:19] goat : might be from the person that bought the big wall earlier
[2015-08-08 22:41:34] j8 : surely. just a $5 loss
[2015-08-08 22:41:45] j8 : 4.50
[2015-08-08 23:24:19] darkshinyshadow : rofl lmao.
[2015-08-08 23:24:29] darkshinyshadow : 420k USD margin called okcoin ltc quarterlies
[2015-08-08 23:25:08] j8 : big one on btc weekly too
[2015-08-08 23:25:51] j8 : just low enough. time for back up
[2015-08-08 23:30:13] j8 : this is bizarre. they don't usually sit there so long
[2015-08-08 23:33:22] BitMEX_Arthur : Still there?
[2015-08-08 23:33:30] j8 : yep both of em
[2015-08-08 23:33:45] goat : BitMEX_Arthur: 17k is down to 16 and change
[2015-08-08 23:33:49] BitMEX_Arthur : j8: Mrkt will need to trade higher for someone to lift those offers
[2015-08-08 23:34:27] j8 : nah
[2015-08-08 23:34:51] j8 : whale #2 just needs to orchestrate a retrace
[2015-08-08 23:35:14] j8 : starting by buying whale #1's liquidations
[2015-08-08 23:35:19] BitMEX_Arthur : j8: I think people in bitcoin have way too much confidence in whales just pushing the price around
[2015-08-08 23:35:49] BitMEX_Arthur : If it were that easy some hedge fund with 10mm USD could play Bitcoin like a flute
[2015-08-08 23:37:34] j8 : big players have proportionally big influence
[2015-08-08 23:37:54] j8 : more than proportional.
[2015-08-08 23:38:48] j8 : because many players with the equivalent buying power would have to cooperate to have the same influence, and they don't
[2015-08-08 23:39:08] ksinvest : less insiders/whales in Bitcoin than in most other assets, according to my mm bot data. market makers can't make money on markets with too many informed traders.
[2015-08-08 23:39:49] BitMEX_Arthur : Bitcoin is a few mm and a bunch of cannon fodder
[2015-08-08 23:41:53] ksinvest : that's true, but more an issue of market microstructure
[2015-08-08 23:43:20] ksinvest : and people like me who are running a competition between two bots on a day like this. hope you enjoy the (much too low) spreads on XBU24H today :)
[2015-08-08 23:43:47] miratrader : I'm enjoying my short from 272.01 on XBU24H :-)
[2015-08-08 23:44:38] miratrader : ksinvest, it wasn't your bot, was it?
[2015-08-08 23:48:06] j8 : i'm enjoying my `BVOL` longs. no one trades with me :(
[2015-08-08 23:48:13] ksinvest : nice :) no, i think that was 200 bot. the good thing about tight spreads is high volume, my bot was always able to exit fast.
[2015-08-08 23:49:51] miratrader : ksinvest: yes, that's what I thought, 200 bot. But I would recommend spending some time to implement volatility adjustments in your mm bot for crazy days like today.
[2015-08-08 23:51:12] j8 : ltc liquidation got bought, 2 mil still sittin there on btc weekly
[2015-08-08 23:52:37] miratrader : our bots made out like bandits shorting on finex and okcoin today
[2015-08-08 23:55:19] miratrader : I'm glad the volatility is back
[2015-08-08 23:55:30] BitMEX_Arthur : these are the hours when you make your monthly pnl
[2015-08-08 23:56:33] j8 : miratrader: what sort of strategies do you run? in a general sense
[2015-08-08 23:57:00] ksinvest : miratrader: still don't have the right data for real-time/indicative volatility adjustments and believe it's generally more a latency issue in my case.
[2015-08-08 23:57:14] miratrader : yep, exactly. I woke up today, saw our bots' big short positions and decided to short here as well.
[2015-08-08 23:59:38] miratrader : j8: we run predictive algos mostly, short-term intra-day as well as longer term trend-following. We do mm as well but not as much.
[2015-08-09 00:01:20] ksinvest : BitMEX_Arthur: as long as my mm bot loses not more than 30-50% of its monthly pnl during these hours, i'm completely ok with it ;)
[2015-08-09 00:03:00] j8 : ksinvest: if you could consistently buy a little `BVOL` you could hedge that risk. need more liquidity though.
[2015-08-09 00:03:40] ksinvest : BitMEX_Arthur: goal is to develop a bot that provides liquidity to a market when it's needed and makes enough money when markets a calm. like an insurance for systemic stability. highly likely to fail, but it's worse trying...
[2015-08-09 00:06:14] BitMEX_Arthur : Keep up the good fight
[2015-08-09 00:06:24] ksinvest : *worth* trying :)
[2015-08-09 00:07:46] ksinvest : BitMEX_Arthur: you too, you are like the Brad Katsuyama of Bitcoin for me from a market structure view
[2015-08-09 00:11:44] BitMEX_Arthur : :)
[2015-08-09 00:11:53] ksinvest : https://twitter.com/ThemisSal/status/629626763375677440
[2015-08-09 00:13:38] miratrader : ksinvest, yes, it's a good goal. I just thought you could implement a bit of risk management to reduce losses during high volatility periods. I personally don't like pure market making in cryptomarkets (too much volatility and not enough volume) but I'm probably biased.
[2015-08-09 00:21:17] darkshinyshadow : umm
[2015-08-09 00:21:24] darkshinyshadow : Litecoin books looking thick...
[2015-08-09 00:21:24] darkshinyshadow : lol
[2015-08-09 00:21:43] darkshinyshadow : oh weird errorr
[2015-08-09 00:22:00] darkshinyshadow : oh - guess the bots are just poppin about
[2015-08-09 00:23:25] j8 : ltc charts look pretty healthy
[2015-08-09 00:23:34] darkshinyshadow : I am long from okcoin quarters.
[2015-08-09 00:23:42] darkshinyshadow : that MC handed me so much free money, jesus.
[2015-08-09 00:24:23] j8 : yeah if you're in position for those it's amazing
[2015-08-09 00:25:32] ksinvest : miratrader: you are right that my bot does not react to volatility well enough. but as long as i don't have near real-time data about implied volatility it will harm more than it benefits to add some predictions based on historical data.
[2015-08-09 00:25:56] centurygate : hey is there a place where we can track an index of the fair basis?
[2015-08-09 00:26:19] BitMEX_Arthur : Not yet we are working on creating that for you guys
[2015-08-09 00:26:37] j8 : +1 for that
[2015-08-09 00:27:44] miratrader : ksinvest, yes, I agree, there is some danger in using historical volatility
[2015-08-09 00:31:07] j8 : so you need data from a liquid options market?
[2015-08-09 00:33:09] ksinvest : j8: yes, BVOL will work as well to calculate implied volatility when it's liquid enough
[2015-08-09 00:34:23] j8 : you could use the `BVOL24H` index until you work something out
[2015-08-09 00:34:35] j8 : ah thats historical
[2015-08-09 00:36:21] ksinvest : yes, that's the problem. my bot needs predictions by a lot of humans not its own predictions based on old data...
[2015-08-09 00:41:51] j8 : ethereum spot and futures have converged.
[2015-08-09 00:45:26] j8 : time for next round of shorts?
[2015-08-09 00:45:52] BitMEX_Arthur : If I had bought in at the IPO I would be dumping like mad
[2015-08-09 00:46:10] BitMEX_Arthur : and I guess there are rumours that the dev team needs to liquidate a bunch of Ether as well
[2015-08-09 00:46:11] gustavo7 : what a day
[2015-08-09 00:46:38] j8 : we were looking at a transaction for 12,000,000 ether earlier
[2015-08-09 00:46:45] gustavo7 : made 18% on btc
[2015-08-09 00:47:30] taffson : j8, where's this 12 mio transaction headed?
[2015-08-09 00:47:54] j8 : to a big bunch of numbers which is a script, apparently.
[2015-08-09 00:48:03] j8 : which could mean anything.
[2015-08-09 00:48:13] j8 : i'll see if i can find it in the chat log
[2015-08-09 00:48:16] ksinvest : do you guys think the bitcoin volatility a result of the ETH dump or any other reasons?
[2015-08-09 00:48:47] j8 : https://www.etherchain.org/account/0x5abfec25f74cd88437631a7731906932776356f9
[2015-08-09 00:49:10] j8 : i can't imagine the connection.
[2015-08-09 00:52:53] j8 : bam, liquidations cleared
[2015-08-09 00:55:05] BitMEX_Arthur : Here we go
[2015-08-09 00:55:51] gustavo7 : @ksinvest: brainwallet cracker on defcon is scary too
[2015-08-09 01:09:33] ksinvest : gustavo7: thanks, very interesting. hopefully http://ms-brainwallet.org/ will get heavily tested now by hackers as well to make it more secure
[2015-08-09 03:22:44] miratrader : ksinvest, my guess that the recent dump is a direct result of Bitfinex shutting down accounts for NY residents.
[2015-08-09 03:25:34] null : I wrote some thoughts on Ether, feedback welcome https://medium.com/@janbirsa/ethereum-is-on-sale-y-all-d554453eb398
[2015-08-09 03:27:20] miratrader : NY residents have one week to withdraw BTC/LTC or convert to USD, so some big accounts are trying to exit the market IMHO.
[2015-08-09 03:49:24] ksinvest : null: second this. ethereum has potential. what we saw could be quite similar to the facebook IPO. still very risky investment.
[2015-08-09 03:53:25] ksinvest : miratrader: don't think a lot of people are verified and use their USD deposit/withdraw option. maybe it's really a few (or one) big account(s) as you said.
[2015-08-09 03:54:36] billyboy402 : Every think work pretty good on iOS - but I can't see current balance ?
[2015-08-09 03:55:40] BitMEX_Sam : billyboy402: This is viewable as "Available Funds" in the order placement control
[2015-08-09 03:56:05] BitMEX_Sam : You are right that the total balance (including funds used in positions) is otherwise not viewable on the main page on a phone - I will make sure that gets added.
[2015-08-09 03:56:20] BitMEX_Sam : You can also go to https://www.bitmex.com/app/wallet to see your full wallet details.
[2015-08-09 04:01:01] billyboy402 : That link is quite good . Thx other then that it work well . I do get the odd pop up " connection to real servers " but I guessing that just for update . FYI chat it a little laggy but that to be expected
[2015-08-09 04:02:33] BitMEX_Sam : billyboy402: On an unstable connection that can happen often, but it might be a little overzealous at times
[2015-08-09 04:04:54] billyboy402 : could you please re-word the FAQ . I'm having a hard time understanding the hedge vs trade future ....(trader) I ask my partner ( btc noob) if she could understand it - she didn't have a qlue . Not urgent but in the early stage I know - but helpful for less experienced trader in the future ( maybe YouTube the new platform:)
[2015-08-09 04:05:52] billyboy402 : mother the. That for a new exchange I'm am quite happy .
[2015-08-09 04:06:08] billyboy402 : Other then that
[2015-08-09 04:12:11] billyboy402 : In the future I would like to see - some type of proof of reserve , some history about operator ( see face to the name ) , and some note about security and protection of (clients ) assets (btc,$) ( muiltsig , cold/hot wallet % )
[2015-08-09 04:15:50] BitMEX_Sam : billyboy402: See https://www.bitmex.com/app/aboutUs
[2015-08-09 04:15:57] BitMEX_Sam : And https://www.bitmex.com/app/security
[2015-08-09 04:16:15] BitMEX_Sam : Proof of reserves is in development but is significantly more difficult to do for an offline multisig system.
[2015-08-09 04:46:47] billyboy402 : Lovely thx
[2015-08-09 04:47:17] lockhedge : please correct me if i'm wrong, BitMEX https://www.reddit.com/r/BitcoinMarkets/comments/3g91co/as_a_holder_how_can_i_hedge_with_a_short_and_on/ctw32u7
[2015-08-09 04:48:38] lockhedge : and please reply to Tulip-Stefan if he is wrong ;-)
[2015-08-09 06:07:15] atodorov07 : the new contract is very illiquid
[2015-08-09 06:07:27] atodorov07 : no one selling
[2015-08-09 06:21:03] ksinvest : atodorov07: i bet some liquidity providers got cold feet because of volatility and are waiting to enter the market again. there's also a primary market maker on BitMEX that does only quote at there business hours.
[2015-08-09 09:43:05] billyboy402 : any admin online
[2015-08-09 09:44:10] BitMEX_Wally : billyboy402: Hello
[2015-08-09 09:48:34] splash : ksinvest: these market makers, what are they?
[2015-08-09 09:48:41] splash : ksinvest: is that arb bots?
[2015-08-09 09:48:54] splash : ksinvest: or other exchanges?
[2015-08-09 09:51:18] BitMEX_Wally : splash: We have an institutional market maker who provides quotes on XBU
[2015-08-09 09:51:36] ksinvest : no it's not arbitrage (maybe sometime latency/fee arbitrate), market makers earn spreads
[2015-08-09 09:51:54] ksinvest : https://en.wikipedia.org/wiki/Market_maker
[2015-08-09 09:55:08] splash : BitMEX_Wally: cool. i didnt now that. i guess u dont want to name names, but what does it mean to be insitutional? does that mean like a hedge fund or something like that?
[2015-08-09 09:55:24] ksinvest : you can become a market maker/liquidity provider on BitMex with some basic python knowledge https://github.com/BitMEX/market-maker
[2015-08-09 09:55:53] BitMEX_Wally : splash: Something like that
[2015-08-09 09:56:07] splash : ksinvest: the difference between spreads and arbitrage escapes me
[2015-08-09 09:56:13] splash : BitMEX_Wally: cool
[2015-08-09 09:56:37] splash : a spread, so thats like "arbitrage" of the order book and not between exchanges?
[2015-08-09 09:57:56] BitMEX_Wally : splash: Yes, market makers buy at the bid and sell at the offer, and try and hedge out their net position when it reaches certain limits
[2015-08-09 09:58:05] ksinvest : splash: yes. as a market maker you are a passive trader (liquidity provider)
[2015-08-09 09:59:28] splash : ah right so kind of creating a buy and sell wall, that moves as as volatility increases. hm, i guess hedging the risk with some futures or something even. sounds like it could blow up in the face if you dont know what you're doing
[2015-08-09 09:59:37] splash : probably not something for me ;)
[2015-08-09 09:59:44] splash : to little money and to little knowledge. lol
[2015-08-09 10:01:58] splash : i could perhaps work as a liquidity provider in extreme market events, becaus I tend to buy high and sell low - so when market really needs it, im there to fascilitate it. im not mkaing much money from it though ;-P
[2015-08-09 10:09:14] ksinvest : splash: in the long run you always earn the spreads passively (if you are not trading with insiders/whales too often). you just never should go into liquidation :)
[2015-08-09 10:09:58] BitMEX_Wally : Yes, if you post passive liquidity and lose money it's called adverse selection
[2015-08-09 10:10:09] BitMEX_Wally : Normally means you're trading against an insider or someone with alpha
[2015-08-09 10:11:48] ksinvest : or it's your fault and you have a slower feed - everybody can get 750 hours colocation for free at Amazon AWS, latency shouldn't be an issue.
[2015-08-09 10:12:47] joequant : Bitcoin is a fun market because there are a lot of bots providing passive liquidity to the spot market.
[2015-08-09 10:13:15] joequant : So what happens is that the price remains pretty stable, until it moves out of bounds, at that point the bots turn off, and things go crazy for a period of time.
[2015-08-09 10:13:39] joequant : At least that's what I'm thinking is going on.
[2015-08-09 10:17:44] BitMEX_Wally : joequant: Hi Joe, haven't seen you for a while. How's it going?
[2015-08-09 10:18:00] ksinvest : joequant: true, that's a big problem in modern markets, HFT firms provide liquidity that vanishes when it's actually needed.
[2015-08-09 10:18:45] joequant : Been really busy. Dealing with the aftermath of Greece and the Chinese bubble popping.
[2015-08-09 10:18:53] joequant : Good news is that things seem "normal"
[2015-08-09 10:19:05] joequant : But we'll see tommorrow.
[2015-08-09 10:19:30] joequant : I've been writing a ton of risk management scripts using ipython notebook.
[2015-08-09 10:22:52] joequant : Anyone that is interested in quant trading of futures let me know. I have a docker image for a python based quant platform.
[2015-08-09 10:23:04] joequant : joequant/bitstation
[2015-08-09 10:23:32] joequant : I have a crude python notebook for spotting future arbs.
[2015-08-09 10:25:34] ksinvest : joequant: sounds very interesting, thx for sharing.
[2015-08-09 10:28:32] joequant : The notebook is here
[2015-08-09 10:28:34] joequant : https://github.com/joequant/bitquant/blob/master/web/home/ipython/examples/future-chart.ipynb
[2015-08-09 10:29:28] joequant : Right now it just graphs future prices across the different exchanges. When I get time, I'm going to put in provision for calculating implied return and implied vol.
[2015-08-09 10:29:52] Tulip-stefan : hi
[2015-08-09 10:30:10] Tulip-stefan : i'm available just in case someone wants to punch me in the face over tcp/ip.
[2015-08-09 10:36:46] BitMEX_Wally : I've heard of SYN, ACK, and FIN packets before but not HIT :p
[2015-08-09 10:37:22] ksinvest : :)
[2015-08-09 11:15:40] goat : shitload of XLT asks below mark and spot
[2015-08-09 11:24:25] gustavo7 : how can i have "realised PNL" with a newly opened position, when last traded is mine and settlement is negative for me?
[2015-08-09 11:25:31] BitMEX_Wally : gustavo7: Which contract?
[2015-08-09 11:28:18] gustavo7 : XBUQ15 short 262
[2015-08-09 11:29:07] billyboy402 : admin - just wondering with the low volume , is there some thing in place to stop ppl margin call hunting . eg , to margin cal LTC right now you would onlyneed 5 BTC or less , same with etherum
[2015-08-09 11:29:25] BitMEX_Wally : You opened a position in `XBUQ15` on 2 August 2015, and closed it yesterday. This is the realisedPnl
[2015-08-09 11:29:57] BitMEX_Wally : billyboy402: XLT7D is marked to fair price, so you can't trigger margin calls by pushing the price on BitMEX
[2015-08-09 11:30:10] gustavo7 : but it's showing on an open position
[2015-08-09 11:31:24] BitMEX_Wally : gustavo7: I understand the confusion. That is the cumulative realised pnl for you on that contract. When the contract settles the realisedPnl will be moved to your wallet
[2015-08-09 11:32:09] billyboy402 : ETH7D ? just looking at my order , and i only need some one pump 1000 ( less then 1 BTC ) to margin call me at 0.009
[2015-08-09 11:33:05] gustavo7 : i understand wally.
[2015-08-09 11:34:33] BitMEX_Wally : billyboy402: I think your liquidation price is 0.00295 ?
[2015-08-09 11:36:18] billyboy402 : it could :) be bout for any one reading this they know know my margin call price , is there think stopping some one placeing a small BTC order just to margin call some one
[2015-08-09 11:36:54] cengel : but to what benefit would that be
[2015-08-09 11:37:08] BitMEX_Wally : billyboy402: 1000 contracts is 2.7 XBT gross value, but they would be paying a steep premium over spot
[2015-08-09 11:37:19] cengel : would take 0.5 btc margin buy to lift orderbook to mc you
[2015-08-09 11:37:23] ksinvest : billyboy402: they would have to manipulate the reference exchange, kraken - might be too expensive
[2015-08-09 11:37:46] cengel : no they changed it now to last trade
[2015-08-09 11:38:39] billyboy402 : 2.7 is not alot for some one . and yes if the do then they lose out on settlement , but they may be out to get back out , they would get back prob 2 btc ... so only lose 0.7
[2015-08-09 11:38:48] ksinvest : cengel: ah, thanks
[2015-08-09 11:38:55] BitMEX_Wally : Now that the basis has settled down we might move back to fair price marking
[2015-08-09 11:40:18] BitMEX_Wally : There are now market making bots arbing `ETH7D` vs `ETH` on Kraken
[2015-08-09 11:41:01] billyboy402 : just saying ,. a easy way for a competter to ruin bitmex rep before it even starts it margin call every one here because of the small volume ,
[2015-08-09 11:41:38] ksinvest : BitMEX_Wally: so changes are for new contracts only or can you change existing contracts?
[2015-08-09 11:42:13] BitMEX_Wally : All positions in`ETH7D` are currently being marked to the last price of the future
[2015-08-09 11:42:32] billyboy402 : just saying if i get margin call some thing crazy , then see all the other exchange not move ... then settlement happen and and i am now out of poistion , ( sorry but i will be leaving )
[2015-08-09 11:43:10] BitMEX_Wally : Understoood
[2015-08-09 11:44:52] billyboy402 : would be a cheap marking depoly from a competor to waste 10 BTC margin call every one here . i would only take around 2.7 btc and when the close out they could get 2.0 BTC back ,,,, do that a few time and it would get cheaper as there would be less client with order ./.... 10 BTC would go far
[2015-08-09 11:45:15] BitMEX_Wally : We take steps to act against market manipulation
[2015-08-09 11:45:34] billyboy402 : ok , are they some where i can read about .
[2015-08-09 11:46:08] cengel : is there competing eth futures exchange
[2015-08-09 11:46:32] BitMEX_Wally : cengel: Not that I'm aware of
[2015-08-09 11:47:26] billyboy402 : nope ,. but who know , maybe ether developer do it , so ppl stop selling ether on kraken to profit here .... but i was talking mainly about LTC and BTC future ( dont need to name name)
[2015-08-09 11:49:15] BitMEX_Wally : Our XBT and XLT futures are marked to fair price
[2015-08-09 11:50:15] billyboy402 : 650 XBT weekly contracts to move it to 295 . ... that only 2 BTC ... so wouldnt that margin call every one that brought at current price 268 ???
[2015-08-09 11:50:30] billyboy402 : XBT7D
[2015-08-09 11:51:45] BitMEX_Wally : The price of the XBT7D future is not used to trigger margin calls
[2015-08-09 11:51:55] billyboy402 : oh , ok
[2015-08-09 11:52:04] billyboy402 : that a great point then
[2015-08-09 11:52:12] BitMEX_Wally : XBT futures are marked to the fair price, i.e the spot price of the reference exchange plus basis
[2015-08-09 11:52:34] BitMEX_Wally : So you'd need to move the price on Bitfinex
[2015-08-09 11:53:02] billyboy402 : "plus basis" what that , ?
[2015-08-09 11:53:31] BitMEX_Wally : Effectively an interest rate
[2015-08-09 11:53:32] billyboy402 : ok , so bitfinex would need to sky rocket to 295 to margin call me here > that good news ,