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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[2016-06-11 23:43:29] sleger : and i called it at 599.5 30s before
[2016-06-11 23:43:32] REKT : Liquidated short on `XBTUSD`: Buy 130000 @ 608.27 **REKTosaurus** :slot_machine: :moneybag: :fire:
[2016-06-11 23:44:02] billz : loving this rektage
[2016-06-11 23:44:02] billz : screw you bitcoin bears
[2016-06-11 23:44:12] sleger : insurance fund gonna take a hit
[2016-06-11 23:44:27] sleger : because of deficient marking price
[2016-06-11 23:44:27] Mr Blue : what I don't get is I was + 0.15 BTC before I started buying back my short, with total balance of 0.7 something, didn't think buying back would effect the 0.15
[2016-06-11 23:45:37] Mr Blue : just thought Id get less of the 0.55 back
[2016-06-11 23:46:04] Mr Blue : anyways wait till rebalancing I guess lol
[2016-06-11 23:46:13] GingerDan : 130,000 Sheeeiiiit
[2016-06-11 23:48:01] REKT : Liquidated short on `XBTUSD`: Buy 6000 @ 608.77
[2016-06-11 23:48:18] ricmi : 130 k 4 btc at this prices
[2016-06-11 23:48:22] REKT : Liquidated short on `XBTUSD`: Buy 1 @ 608.86 :punch: :whale:
[2016-06-11 23:48:23] sleger : GingerDan: 130k ? Liquidated short on XBTUSD: Buy 698278 @ 605.59 REKTosaurus
[2016-06-11 23:48:45] j8 : REKT needs a new word for that one
[2016-06-11 23:48:47] rentchev : there was another one 130k sleger
[2016-06-11 23:48:57] sleger : yes but 130k is smaller than 698l
[2016-06-11 23:49:02] rentchev : of course
[2016-06-11 23:49:04] rentchev : lol
[2016-06-11 23:49:08] rentchev : he didn't see th ebig one
[2016-06-11 23:49:13] sleger : so why say oh shiieett
[2016-06-11 23:49:17] REKT : Liquidated short on `XBTUSD`: Buy 500 @ 610.08
[2016-06-11 23:49:22] REKT : Liquidated short on `XBTUSD`: Buy 2756 @ 611.11
[2016-06-11 23:49:22] REKT : Liquidated short on `XBTUSD`: Buy 18500 @ 610.80
[2016-06-11 23:49:24] sleger : and thats why i was pointing it out
[2016-06-11 23:49:49] micmix : insurance fund half of what it was
[2016-06-11 23:50:00] sleger : dpe showing now
[2016-06-11 23:50:06] sleger : stupid marking system
[2016-06-11 23:50:06] Yumi : Its over 1M contracts
[2016-06-11 23:50:17] REKT : Liquidated short on `XBTUSD`: Buy 1335 @ 611.84
[2016-06-11 23:50:26] ctpact : go go
[2016-06-11 23:50:35] BTCDJS : god damnit
[2016-06-11 23:50:45] BTCDJS : wish I didn't bottle it
[2016-06-11 23:51:30] Mr Blue : BTCDJS: could be worse mate, you could be me, been a bad day only fiat gains no extra BTC, infact BTC loss lol
[2016-06-11 23:51:57] BTCDJS : Mr Blue: I know but still.
[2016-06-11 23:52:31] BTCDJS : Mr Blue: my plan was 637. should've stuck to the plan
[2016-06-11 23:52:39] Mr Blue : BTCDJS: true extra $15 on each BTC would of done you nicely sir, but could be worse just saying ;-)
[2016-06-11 23:53:05] rentchev : sold XBTU16 at 723
[2016-06-11 23:53:15] rentchev : joy
[2016-06-11 23:53:49] Mr Blue : BTCDJS: next target will be 700 but resistance at 625 on finex, so I think I'm going to bed to cry about my BTC losses, and be back with vengance tomorrow lol
[2016-06-11 23:54:15] rentchev : Mr Blue I thought you were long?
[2016-06-11 23:54:38] BTCDJS : Mr Blue: when we hit the ceiling. Im shorting the hell out of BTC. question is. where is the ceiling?
[2016-06-11 23:54:50] rentchev : BTCDJS: lol
[2016-06-11 23:55:01] rentchev : the million $ question
[2016-06-11 23:55:09] rentchev : there is no ceiling
[2016-06-11 23:55:19] rentchev : there is more overbought and less overbought
[2016-06-11 23:55:27] Mr Blue : rentchev: long story mate, but last night at 580 I decided I was going to put a -10000 short in at 586, woke up at 585 decided profit wasn't good enough, then got stuck all day till I raped my self lol
[2016-06-11 23:55:33] rentchev : right now is overbought on many timeframes
[2016-06-11 23:55:42] rentchev : 30 min, 1h, 2h
[2016-06-11 23:56:10] rentchev : Mr Blue: sorry to hear
[2016-06-11 23:56:13] viptrader : lsk at 735
[2016-06-11 23:56:18] viptrader : 768 here
[2016-06-11 23:56:29] rentchev : LSK support is 725
[2016-06-11 23:56:34] rentchev : might be a good buy here
[2016-06-11 23:56:57] Mr Blue : rentchev: its no problem sh happens, I still gain with Bitcoin going up, but a loss is a loss must admit to it lol
[2016-06-11 23:57:34] rentchev : I know it hurts
[2016-06-11 23:57:44] viptrader : short it
[2016-06-11 23:57:47] viptrader : LSK
[2016-06-11 23:57:49] rentchev : I will tell you what happened with me a month ago some time
[2016-06-11 23:58:07] Mr Blue : rentchev: cool, look forward to it
[2016-06-11 23:58:15] rentchev : shorted at 622 average
[2016-06-11 23:59:27] yerb : can mark price liquidate your position even if you are way up in profit according to the book?
[2016-06-11 23:59:36] sleger : sure
[2016-06-11 23:59:50] yerb : fck that damnit!!!!
[2016-06-12 00:00:00] sleger : yes its a retarded system
[2016-06-12 00:00:12] sleger : told them many times
[2016-06-12 00:00:48] yerb : where are BitMEX people right now i wanna fuggin haras them about it
[2016-06-12 00:00:57] Mr Blue : it saved my life lol, or at least I think it did, some how down money that wasn't on the line lol, but hopefully I get back at rebalance
[2016-06-12 00:01:46] GingerDan : If a $15 premium liquidated you, you are waaaay over leveraged
[2016-06-12 00:02:10] yerb : it didnt but its fuggin retarded
[2016-06-12 00:02:21] yerb : i was trading half of my acc tho
[2016-06-12 00:02:46] Mr Blue : mark was 598 my liquidation price was 600, got out just in time but payed 606 for the 10000 back, when they originally cost 586
[2016-06-12 00:05:12] Mr Blue : so say $20 x 18 = $360 loss, had total balance of just over 0.7 so not expecting too much back, but should be getting something lol
[2016-06-12 00:06:36] Mr Blue : just hoping I didn't mess my self up more, as would of still had the 0.15 if got liquidated, so if I get more than that back its a bonus lol
[2016-06-12 00:06:58] Mr Blue : if not fml
[2016-06-12 00:07:08] j8 : so you exited short around 598 and re-entered at 606?
[2016-06-12 00:07:52] Mr Blue : no I exited at 606 and got in at 586, was -10,000
[2016-06-12 00:08:52] Mr Blue : sorry wrong way round but you get it
[2016-06-12 00:09:22] BTCDJS : Mr Blue: lay off the smoke dude
[2016-06-12 00:10:11] Mr Blue : BTCDJS: lmao, its possible.. still I know my loss should of only been 360
[2016-06-12 00:10:42] Mr Blue : + fees
[2016-06-12 00:12:50] GingerDan : Is the rebalance 12.00 GMT each day?
[2016-06-12 00:12:57] Mr Blue : I think I raped my self trying to do a fast one on the liquidation man lol, we'll see
[2016-06-12 00:13:35] Mr Blue : GingerDan: ye should be unless every 8h, so might be one at 4am
[2016-06-12 00:13:45] aethlios : only 220k usd at bitfinex. next rate funding will be high
[2016-06-12 00:14:50] sleger : bitmex predicting a mean reversion to 608 : https://www.bitmex.com/api/v1/liquidation
[2016-06-12 00:15:11] yerb : we got price action party with Pizpie as the voice of bitcoin in whalepool.io teamspeak
[2016-06-12 00:15:13] j8 : i predict a mean reversion of the insurance fund, to 0
[2016-06-12 00:15:26] sleger : j8: too easy
[2016-06-12 00:15:41] yerb : come join us https://whalepool.io/connect/teamspeak
[2016-06-12 00:15:42] Mr Blue : j8: lol ye bed exchange has been hit hard
[2016-06-12 00:15:49] Mr Blue : bet*
[2016-06-12 00:15:52] j8 : too bad we dont have insurance fund futures
[2016-06-12 00:17:17] Mr Blue : exchange should of done a $15 premium few hours back, maybe would of trapped more bears shorting
[2016-06-12 00:17:45] Mr Blue : we all new it was going past 600, was just a matter of time lol
[2016-06-12 00:18:07] BTCDJS : Mr Blue: then you should've longed mate
[2016-06-12 00:18:50] Mr Blue : BTCDJS: I know that, but it was a night before desision that went wrong lol, I got greedy and paid the price
[2016-06-12 00:19:07] BTCDJS : fair enough
[2016-06-12 00:19:10] sleger : so tonight the 2 guys who joined a week ago and started occupying 80% of the trollbox, one saying moon the other one down, both got rekt ?
[2016-06-12 00:19:36] BTCDJS : sleger: yup
[2016-06-12 00:19:54] sleger : i win a bet with myself then, 2nd one tonight
[2016-06-12 00:19:57] j8 : how did the moon guy get rekt. and who was that
[2016-06-12 00:20:06] sleger : mr blue was this man
[2016-06-12 00:20:13] Mr Blue : well I didn't get liquidated and never lost money gere, but yes been Rekt today lol of past profits
[2016-06-12 00:20:34] BTCDJS : wheres the frenchman? he was quite loud about doom as well
[2016-06-12 00:21:30] BTCDJS : #sheep man
[2016-06-12 00:21:37] Mr Blue : profits are profits, but my prodictions was still correct, however I didn't expect a push like this till monday, so I was off lol
[2016-06-12 00:22:12] micmix : sleger: supermine was on the board with 320% until yesterday, he's not there anymore
[2016-06-12 00:22:33] sleger : 320% of 0.6million $ is pretty good
[2016-06-12 00:23:04] rentchev : micmix: how do you know there are no names?
[2016-06-12 00:24:11] rentchev : Anyone know how many total BTC was the loss on that REKT?
[2016-06-12 00:24:11] j8 : Daisy-Coconut-Shaker 12067.60% nice one
[2016-06-12 00:24:24] rentchev : nice indeed
[2016-06-12 00:24:55] BTCDJS : yeah he's some boy
[2016-06-12 00:25:06] yerb : Tradingview DARK THEME https://userstyles.org/styles/118025/tradingview-com-dark-theme
[2016-06-12 00:26:49] j8 : although, they're not on the top notional list so they've made less than 17.241 XBT
[2016-06-12 00:27:21] rentchev : j8 what number are you? :-)
[2016-06-12 00:27:27] rentchev : I am sure you are in there
[2016-06-12 00:27:42] j8 : if i wanted that to be public i would make it public
[2016-06-12 00:28:01] rentchev : I wasn't expecting an answer
[2016-06-12 00:28:34] j8 : i'm somewhere in there :) hows that
[2016-06-12 00:28:51] rentchev : perfect
[2016-06-12 00:28:55] sleger : i suspect for most people towards the top it doesnt mean much anyways
[2016-06-12 00:29:03] rentchev : of course
[2016-06-12 00:29:05] sleger : as they most likely all have positions cross exchanges as well
[2016-06-12 00:29:48] j8 : yup
[2016-06-12 00:31:02] rentchev : hey micmix is in there
[2016-06-12 00:31:09] rentchev : 282.72%
[2016-06-12 00:32:03] rentchev : j8: the guy that made 541 XBT, what do you think was their initial account size?
[2016-06-12 00:32:19] rentchev : just a guess
[2016-06-12 00:32:36] sleger : but not on top part, we should all give him money to invest and he can keep 20% of profits ;)
[2016-06-12 00:33:10] rentchev : I would agree to that
[2016-06-12 00:33:23] sleger : but you keep 100% of losses
[2016-06-12 00:33:28] j8 : tough to say, they haven't been active as long as the leaderboard's been up. possibly an old mega MM account? i dunno if it's realistic to make that much as MM
[2016-06-12 00:33:35] rentchev : I can invest 5 BTC in his fund
[2016-06-12 00:33:38] rentchev : lol
[2016-06-12 00:33:41] BTCDJS : ok sleger now we know its you
[2016-06-12 00:34:06] rentchev : that makes sense j8
[2016-06-12 00:34:07] sleger : j8: dont think its a MM
[2016-06-12 00:34:17] j8 : rentchev: also keep in mind the ROE calculation is way off
[2016-06-12 00:35:18] j8 : sleger: someone that made a killing on XBT24H last october maybe
[2016-06-12 00:35:19] Mr Blue : guys my rebalancing thing says -0.7 that's gay I should of saved the 0.15 and let my self be liquidated, not sure how it worked out.
[2016-06-12 00:35:21] rentchev : what do you mean j8
[2016-06-12 00:36:19] rentchev : Mr Blue: did you have other positions?
[2016-06-12 00:36:30] Mr Blue : rentchev: no
[2016-06-12 00:37:02] rentchev : $10 premium now on XBTUSD
[2016-06-12 00:37:04] j8 : on the top 25 by ROE, the way they calculate ROE is whack.. basically if you withdraw your profits and then later deposit them, it counts as a higher initial equity and your ROE goes down. so even though they're not on the list they might have much higher ROE
[2016-06-12 00:37:30] rentchev : I see
[2016-06-12 00:38:06] rentchev : it would make sense to calculate based on deposit and withdrawal as well
[2016-06-12 00:38:18] Mars! : What is the unit of size on order book ?
[2016-06-12 00:38:20] rentchev : since they know all transactions
[2016-06-12 00:38:20] Mr Blue : rentchev: its a long story I won't go over it again tonight mate, will just check over trading logs tomorrow or something
[2016-06-12 00:38:57] rentchev : ok Mr Blue
[2016-06-12 00:39:09] rentchev : Mars!: unit size is 1 contract
[2016-06-12 00:39:17] rentchev : each contract has different value
[2016-06-12 00:39:28] rentchev : for example XBTUSD has a value of 1 USD
[2016-06-12 00:40:01] rentchev : XBTU16 on the other hand - 1 contract = 0.0073 XBT
[2016-06-12 00:40:12] rentchev : you can see all this in the bottom left
[2016-06-12 00:46:41] rentchev : 585-590 turned support now
[2016-06-12 00:47:17] REKT : Liquidated short on `XBTUSD`: Buy 400 @ 614.32
[2016-06-12 00:47:17] REKT : Liquidated short on `XBTUSD`: Buy 5724 @ 614.20
[2016-06-12 00:47:18] Mars! : rentchev: thanks, clear that.
[2016-06-12 00:47:22] REKT : Liquidated short on `XBTUSD`: Buy 23247 @ 614.53 **MEGA-REKT** :boom:
[2016-06-12 00:47:48] rentchev : Mars!: np
[2016-06-12 00:47:58] Moo : holy cow
[2016-06-12 00:49:02] REKT : Liquidated short on `XBTM16`: Buy 550 @ 641.03
[2016-06-12 00:49:17] REKT : Liquidated short on `XBTUSD`: Buy 7915 @ 618.85
[2016-06-12 00:49:17] REKT : Gentlemen, we have an eREKTion!
[2016-06-12 00:49:28] billz : god i feel like i sold too early at 625
[2016-06-12 00:49:37] REKT : Liquidated short on `XBTUSD`: Buy 15 @ 619.29
[2016-06-12 00:49:39] rentchev : lol REKT
[2016-06-12 00:49:52] REKT : Liquidated short on `XBTUSD`: Buy 21 @ 619.97
[2016-06-12 00:50:27] Moo : this is so much money entering the market
[2016-06-12 00:50:32] REKT : Liquidated short on `XBTUSD`: Buy 18291 @ 621.91
[2016-06-12 00:50:55] rentchev : 621?
[2016-06-12 00:50:56] Moo : where is it gonna stop?
[2016-06-12 00:51:04] rentchev : price is 638 now
[2016-06-12 00:51:10] Moo : everybody joking about 1000... might not be a joke
[2016-06-12 00:51:20] BTCDJS : 650 is the top I'm sure of it
[2016-06-12 00:51:37] rentchev : BTCDJS: top for what timeframe?
[2016-06-12 00:51:40] rentchev : for today?
[2016-06-12 00:51:41] rentchev : lol
[2016-06-12 00:51:44] BTCDJS : for now anyway
[2016-06-12 00:51:56] BTCDJS : rentchev: yes
[2016-06-12 00:51:58] Mr Blue : I think spot will rest at 625 or lower before push, but could be wrong
[2016-06-12 00:52:37] micmix : sleger: you're welcome to invest in micmix hedge fund :wink:
[2016-06-12 00:54:07] rentchev : he he
[2016-06-12 00:54:42] rentchev : micmix: we will give you access by API
[2016-06-12 00:54:52] rentchev : 5 BTC good?
[2016-06-12 00:57:33] dharmabum : here we go again
[2016-06-12 00:58:01] Moo : is this like... a government trying to get into btc?
[2016-06-12 00:58:50] Mr Blue : Moo: would be nice
[2016-06-12 00:59:06] rentchev : Moo: that's nothing
[2016-06-12 00:59:14] dharmabum : besst way to hedge BTC against price drop vs USD?
[2016-06-12 00:59:16] rentchev : this is actually not much money going in at the moment
[2016-06-12 00:59:25] rentchev : wait when $ billions try to get in
[2016-06-12 00:59:27] micmix : but seriously this is a dev/test account, I only deposited 4 coins to this account to test new algos
[2016-06-12 00:59:32] rentchev : it will be crazy
[2016-06-12 01:00:31] Moo : when I told my friends "this is the last $500 coin you will see", I should have longed
[2016-06-12 01:00:36] Moo : i just sat it out until now
[2016-06-12 01:00:45] Moo : with my few coins
[2016-06-12 01:00:56] sleger : put your money where your mouth is or shut up
[2016-06-12 01:05:01] j8 : no big liquidations yet on june or sept. i can't wait!
[2016-06-12 01:05:07] REKT : Liquidated short on `XBTUSD`: Buy 30 @ 623.69
[2016-06-12 01:05:07] REKT : Liquidated short on `XBTUSD`: Buy 200 @ 623.48
[2016-06-12 01:05:07] REKT : Liquidated short on `XBTUSD`: Buy 80000 @ 623.64 **EPIC REKT** :unamused: :confounded: :astonished:
[2016-06-12 01:05:21] REKT : Liquidated short on `XBTU16`: Buy 232 @ 752.50
[2016-06-12 01:05:22] Mr Blue : rentchev: ye but we could always get some 100,000 BTC dumping idiot, hopefully coins would reach stronger hands, but its a possiblity
[2016-06-12 01:05:33] REKT : Liquidated short on `XBTUSD`: Buy 1400 @ 624.55
[2016-06-12 01:05:55] BTCVIX : we got pizpie price calling on TS -- ts.whaleclub.io
[2016-06-12 01:07:33] Mr Blue : if governments got involved, would all be eaten for sure
[2016-06-12 01:07:38] micmix : j8: june had very low premium for a while, probably no big players shorting the premium to rekt
[2016-06-12 01:08:11] micmix : my bot almost closed the june long by now
[2016-06-12 01:08:19] j8 : 400k in shorts have impressive resolve
[2016-06-12 01:08:42] dharmabum : j8: heh. absolutely.
[2016-06-12 01:09:07] sleger : 13% dpe well done bitmex
[2016-06-12 01:09:26] j8 : i've been waiting for a chance to close long on june, just haven't had the liquidity when the price is right
[2016-06-12 01:10:25] micmix : yeah, hard to do without a bot
[2016-06-12 01:11:18] micmix : have to wait for a big liquidation
[2016-06-12 01:14:06] j8 : i use a bot, problem is i still feel the market is undervaluing june. will probably just hold to expiry
[2016-06-12 01:14:47] sleger : 3% premium for <2 weeks is not bad
[2016-06-12 01:15:10] j8 : with okc at 2.25%, it's pretty bad
[2016-06-12 01:15:36] sleger : oh you mean june here sorry
[2016-06-12 01:16:00] sleger : im short 100k contracts, i will keep until expiry as well
[2016-06-12 01:16:46] j8 : implied vol is well below the 30 day historical vol
[2016-06-12 01:17:43] micmix : I will close all of it today but maybe holding to expiry would be better. Premium was jumping up and down lately.
[2016-06-12 01:21:18] sam : finally a big loooong green dick shoved down ggwp's throat
[2016-06-12 01:21:34] sam : his spam was getting bloody irritating
[2016-06-12 01:23:58] billz : rip bears
[2016-06-12 01:24:05] ayy_lmao : y chat so savage
[2016-06-12 01:32:03] billz : cause this is so hype
[2016-06-12 01:33:02] CrazyEarner : oh lord another exchange and a troll box heaven forbid :P
[2016-06-12 01:33:35] j8 : it's been way more trolly lately
[2016-06-12 01:33:42] miramm1115 : DPE clearing up a bit
[2016-06-12 01:33:52] miramm1115 : oops, wrong account again
[2016-06-12 01:33:54] j8 : even wally trolls a bit
[2016-06-12 01:35:09] CrazyEarner : Does this site allow you to sell for USD and cashout or no fiat options?
[2016-06-12 01:35:26] micmix : quality of bitmex chat is inversely correlated with bitcoin price
[2016-06-12 01:35:47] j8 : no fiat @CrazyEarner
[2016-06-12 01:35:55] Mr Blue : CrazyEarner: welcome, no just BTC here, but nice leverage options.
[2016-06-12 01:37:15] CrazyEarner : how does that work on here the leverage just buy and leave alone n let it do its thing
[2016-06-12 01:38:09] Mr Blue : CrazyEarner: no you move it up and down, try start with x5 see how you go
[2016-06-12 01:38:46] Mr Blue : CrazyEarner: its on the left hand side the bar with x1 x2 x5 and so on
[2016-06-12 01:38:53] CrazyEarner : I know how to trade jsut not on this type platfom lol
[2016-06-12 01:39:18] Mr Blue : cool
[2016-06-12 01:39:24] j8 : CrazyEarner: lots of reading to do, start here: https://www.bitmex.com/app/tradingOverview
[2016-06-12 01:42:12] CrazyEarner : ok cool last one how does one depost eTH here or is it just purly BTC only
[2016-06-12 01:43:19] billz : btc only, read that page he linked
[2016-06-12 01:46:26] CrazyEarner : REading now so tihkn i get it all profit bTC based on ETH prices and so forth and contracts and futures etc
[2016-06-12 01:48:02] j8 : yes. it's simple that way, especially for ETHXBT, it's pretty much exactly like trading eth spot
[2016-06-12 01:48:44] j8 : except the way funding costs work is a bit different.
[2016-06-12 01:57:10] micmix : j8: do you have data on max premium on swap today?
[2016-06-12 01:57:50] j8 : not logged, but the highest i remember seeing it was a little over 2%
[2016-06-12 01:58:16] micmix : thanks, I really should start logging that
[2016-06-12 01:58:38] CrazyEarner : is this irc chat intergrated with web chat ?
[2016-06-12 01:58:50] j8 : micmix: but wait, theres https://www.bitmex.com/app/index/.XBTUSDPI
[2016-06-12 01:59:02] micmix : oh yeah, cool
[2016-06-12 01:59:03] CrazyEarner : looks like it is i see me on chat and irc :) nice little feature
[2016-06-12 02:00:26] j8 : was 3.1184% over spot on a spike apparently
[2016-06-12 02:01:40] micmix : {"symbol":".XBTUSDPI","timestamp":"2016-06-12T00:50:00.000Z","price":0.031184}
[2016-06-12 02:02:06] micmix : yep, found it too
[2016-06-12 02:07:23] j8 : `XBTUSD` peaked at 640, index was 621.41
[2016-06-12 02:09:21] j8 : or somewhere between 618.43 at 00:49:00 and 621.41 at 00:50:00
[2016-06-12 02:15:49] BitMEX_Wally : You can see the historical XBTUSD vs .XBT premium here: https://www.bitmex.com/app/index/.XBTUSDPI
[2016-06-12 02:16:12] asdfman : What am I looking at?
[2016-06-12 02:16:30] BitMEX_Wally : The premium of XBTUSD over .XBT
[2016-06-12 02:16:39] BitMEX_Wally : Expressed as a percentage
[2016-06-12 02:16:52] BitMEX_Wally : So it is currently 0.8607%
[2016-06-12 02:17:18] j8 : BitMEX_Wally: is it mid price or last traded?
[2016-06-12 02:17:30] asdfman : .XBT being what? I know I should have RTFM, but.. is that low?
[2016-06-12 02:17:59] BitMEX_Wally : fundingRate+(impactBidPrice above fairPrice)%indicativeSettlePrice
[2016-06-12 02:18:19] BitMEX_Wally : (or impactAskPrice below fairPrice) if discount
[2016-06-12 02:18:26] j8 : i see
[2016-06-12 02:18:34] asdfman : sure
[2016-06-12 02:19:05] BitMEX_Wally : So if the funding rate is 0.30% and XBTUSD impact bid price is trading 0.10% above the fair price then the total premium is 0.40%
[2016-06-12 02:20:25] asdfman : more longers push rate up?
[2016-06-12 02:20:30] BitMEX_Wally : Yes
[2016-06-12 02:20:49] BitMEX_Wally : `.XBT` is the underlying price of Bitcoin on Bitfinex, Bitstamp, OKC
[2016-06-12 02:20:51] asdfman : not just more volume?
[2016-06-12 02:21:01] asdfman : ok
[2016-06-12 02:21:06] BitMEX_Wally : People are currently bidding the XBTUSD swap up 6 dollars above the Bitcoin price
[2016-06-12 02:21:42] rentchev : premium was $12 at one point earlier
[2016-06-12 02:22:16] BitMEX_Wally : We are going to use this premium index set the funding rate, which will help bring the premium down and avoid DPE
[2016-06-12 02:23:21] asdfman : how does your orderbook @ stamp look?
[2016-06-12 02:23:32] rapidtrades : I did half my time and got out for good behavior
[2016-06-12 02:23:51] rapidtrades : true story
[2016-06-12 02:24:10] rapidtrades : there were lot of RekTed ppl in there man...
[2016-06-12 02:24:23] BitMEX_Wally : Any changes to the funding rate will take a little while, because it cannot increase by more than 75% of maintenance margin (i.e. 0.375%) at a time
[2016-06-12 02:24:45] sleger : rapidtrades: go back out
[2016-06-12 02:24:51] sleger : see you tomorrow
[2016-06-12 02:25:01] rapidtrades : ....u srs? we're at 621 lol
[2016-06-12 02:25:16] rapidtrades : how about go with the spirit of the deal lol
[2016-06-12 02:25:20] asdfman : here its spread is 606-607 @ stamp. whut?
[2016-06-12 02:25:38] asdfman : is it retarded? :/
[2016-06-12 02:26:50] j8 : BitMEX_Wally: interested to see how that works out. something definitely needs to be done. my first thought is the lag in the funding rate could be a problem.
[2016-06-12 02:27:13] BitMEX_Wally : j8: It's only an 8 hour lag
[2016-06-12 02:28:17] CrazyEarner : lol lag sounding like another gox lol
[2016-06-12 02:29:13] asdfman : could jump quite ffffast
[2016-06-12 02:29:26] Blargwaffle : You're comparing bitmex to gox?
[2016-06-12 02:29:49] j8 : which is pretty good, although it's more than enough time for all the premiums to turn to discounts while the price crashes. it's a start anyway
[2016-06-12 02:30:29] sleger : i bet that in 3 months people come to their senses and mark the swap to market just like xbtusd was
[2016-06-12 02:30:35] CrazyEarner : no just stating like when gox use to have lag and people talking bout 8 hour lag reminds me of gox trading days when massive lag on trades lol
[2016-06-12 02:32:02] Blargwaffle : Ahkay.
[2016-06-12 02:32:53] j8 : that's a very different thing.
[2016-06-12 02:33:46] asdfman : how will one be affected if one goes 50x long 100k and the price rockets right after? the rates will eat the contracts, yeh?
[2016-06-12 02:34:17] asdfman : eat into, over time
[2016-06-12 02:36:57] asdfman : I mean, is .XBTUSDPI the cost of having a contract?
[2016-06-12 02:37:16] micmix : BitMEX_Wally: do you log impact mid price? I would like to run some analysis if it's available
[2016-06-12 02:37:47] BitMEX_Wally : micmix: We publish it on the instrument table but there's no history
[2016-06-12 02:38:00] j8 : if the price goes up you made a lot of money. the price has to go up on average more than the interest rate, but that's usually around 0.05% a day (price needs to go up 31 cents a day on average). maybe rates will spike to 0.5% a day, which would hurt if it lasted for a while @asdfman
[2016-06-12 02:38:05] micmix : BitMEX_Wally: ok, I'll start logging myself
[2016-06-12 02:39:15] asdfman : j8: thanks. and "a while" being many 8h cycles, I guess?
[2016-06-12 02:40:08] BitMEX_Wally : The swap will reach an equilibrium with the fundingRate
[2016-06-12 02:40:35] BitMEX_Wally : If the premium is 1% then the funding rate going up by 0.3% might collapse the premium
[2016-06-12 02:40:53] rapidtrades : BitMEX_Wally: hope so
[2016-06-12 02:40:57] BitMEX_Wally : i.e. it will encourage more shorts to come into the market
[2016-06-12 02:41:16] sq : BitMEX_Wally: when r u guys incorporating the new funding rate, ie includes premium
[2016-06-12 02:41:22] j8 : well, say it's 0.5% for two days, you pay 1% on your position notional, which is a lot. but the reason it's that high is because everyone wants to be long, because the price is going up. the price probably went up a lot more than 1% in that two days, so you're still way in the green @asdfman
[2016-06-12 02:42:09] BitMEX_Wally : sq: We will send out an announcement soon. The new fundingRate will be set at 12:00 UTC and charged at 20:00 UTC
[2016-06-12 02:42:25] BitMEX_Wally : So you have 16 hours' notice
[2016-06-12 02:42:36] sleger : yeah cause 20-12=16?
[2016-06-12 02:42:41] sq : ok so the shorters will new receive the premium?
[2016-06-12 02:43:04] BitMEX_Wally : sleger: It is currently 02:42 UTC
[2016-06-12 02:43:22] asdfman : aha. I think I got it. so basically, @j8 , it might also end up eating everything if held long enough? like compare it with the rate of BTC-creation.
[2016-06-12 02:43:32] sleger : 12-2=16 or 20-2=16 ?
[2016-06-12 02:44:14] BitMEX_Wally : Fine, you have at least 16 hours notice, i.e. 17 hours and 16 minutes
[2016-06-12 02:44:45] rapidtrades : BitMEX_Wally: an announcement for what
[2016-06-12 02:44:55] BitMEX_Wally : The announcement email will come out at 04:00 UTC
[2016-06-12 02:44:59] sq : BitMEX_Wally: will u be paying out the full premium once everyday?
[2016-06-12 02:45:03] rapidtrades : what's it about
[2016-06-12 02:45:09] j8 : yeah, even when the market's not super bullish, funding costs could be say 10% annualised. if it was a 10x leveraged long, that would eat your entire equity in a year. assuming the price didn't go up
[2016-06-12 02:45:16] sleger : and it starts tomorrow, wow that's short notice
[2016-06-12 02:45:26] rapidtrades : what starts tomorrow
[2016-06-12 02:45:33] rapidtrades : WHAT'S GOING ON
[2016-06-12 02:45:40] sleger : you're banned get out
[2016-06-12 02:45:49] BitMEX_Wally : rapidtrades: We're talking about your mom
[2016-06-12 02:46:01] sq : lol
[2016-06-12 02:46:17] sleger : lol
[2016-06-12 02:47:03] messiaen8844 : lol
[2016-06-12 02:47:12] asdfman : Is it possible to add functionality to calculator?
[2016-06-12 02:47:47] asdfman : like to inclue existing contracts in to show new possible liq. price
[2016-06-12 02:48:01] asdfman : open poss..
[2016-06-12 02:48:20] BitMEX_Wally : asdfman: Yes, it is on the todo list
[2016-06-12 02:48:29] asdfman : cool
[2016-06-12 02:48:55] sleger : so i opened a 1k btc long position on the swap, paying some of that premium and now you are going to reduce it without me having anything in exchange, isn't that unfair for the people long in the position ? @BitMEX_Wally
[2016-06-12 02:49:14] rapidtrades : woah, sweet
[2016-06-12 02:49:45] j8 : the Central Bank of BitMEX has spoken. sell!
[2016-06-12 02:49:58] BitMEX_Wally : You can close your long and earn the premium
[2016-06-12 02:50:09] sleger : that's changing the terms of the contract while in the position
[2016-06-12 02:50:13] rapidtrades : BitMEX_Wally: is he srs? what will u do
[2016-06-12 02:50:23] sleger : terms which have a serious impact on pricing
[2016-06-12 02:50:32] asdfman : market is reducing, no?
[2016-06-12 02:50:34] rapidtrades : jacking rates or what
[2016-06-12 02:50:41] asdfman : you agreed on precious market
[2016-06-12 02:50:46] asdfman : previous
[2016-06-12 02:50:56] sleger : if you want to do that you should do it VERY progressively over a longer period, ie 2 weeks at least
[2016-06-12 02:51:01] BitMEX_Wally : The goal is to reduce to premium so it is better for those going long, and to better reward shorts
[2016-06-12 02:51:14] asdfman : sleger: who?
[2016-06-12 02:51:23] rapidtrades : sleger: nah man its cool
[2016-06-12 02:51:24] sleger : i understand but you're costing money to the ones currently long
[2016-06-12 02:51:43] rapidtrades : bitmex +1
[2016-06-12 02:51:46] BitMEX_Arthur : There is a lag between when the rate is published and then charged so you will have an opportunity to close your position or go net short.
[2016-06-12 02:51:46] sleger : create a new contract and settle the existing one at mark price in 2 weeks then
[2016-06-12 02:52:10] sleger : BitMEX_Arthur: No, you annoncing it already impacts the market, just look at the premium now
[2016-06-12 02:52:35] rapidtrades : BitMEX_Arthur: can u explain what will happen? wally is not helpful
[2016-06-12 02:52:43] sleger : you just lowered the price of the swap by changing the terms @BitMEX_Arthur
[2016-06-12 02:52:51] sleger : and you cant do that
[2016-06-12 02:52:55] messiaen8844 : rapidtrades: you want details about your mom? nasty
[2016-06-12 02:52:55] BitMEX_Arthur : Wait for the announcement it will be out in an hour or so
[2016-06-12 02:53:21] asdfman : I want details about his mom
[2016-06-12 02:53:42] BitMEX_Wally : asdfman: Let's just say she was trading at a discount
[2016-06-12 02:53:48] rapidtrades : wtf....
[2016-06-12 02:53:59] rapidtrades : strip wally of his modship
[2016-06-12 02:54:18] BitMEX_Wally : `/mode -o BitMEX_Wally`
[2016-06-12 02:54:20] micmix : oh wow, Wally trolling
[2016-06-12 02:54:33] asdfman : was it a pretty please, with sugar on top?
[2016-06-12 02:54:43] asdfman : or just straight out go
[2016-06-12 02:54:47] micmix : can't believe my eyes!!!
[2016-06-12 02:55:19] asdfman : very kind anyway
[2016-06-12 02:55:23] sleger : BitMEX_Arthur: I am long 0.6m$ of the swap, if the announcement has a significant impact on the pricing of the swap then it's not okay
[2016-06-12 02:55:43] sq : sleger: if u r, time to get out haha
[2016-06-12 02:56:36] rapidtrades : ^^^
[2016-06-12 02:57:54] j8 : the swap was always supposed to track spot, and they have said informally that they would do something to ensure that. so in a way if you bought at a premium you had it coming. but i agree it's shitty communication on this, which unfortunately is becoming classic bitmex
[2016-06-12 02:58:49] lockhedge : sleger: would you prefer higher (and more frequent) DPE?
[2016-06-12 02:58:54] sleger : cant modify the terms of a product while in position, especially on such short notice. Progressive over 2 weeks or closing the existing one in 2 weeks and starting what they want now on a new, different product, is ok
[2016-06-12 02:59:12] sleger : lockhedge: stupid question, no answer
[2016-06-12 02:59:29] rapidtrades : 12% DPE aint bad
[2016-06-12 03:00:17] micmix : swap was in constant flux since it was listed, first rebalance switching to daily, then funding to 8h
[2016-06-12 03:01:04] sleger : but these had no strong directional impact on its pricing
[2016-06-12 03:01:11] micmix : they are moving very fast and it's too risky to keep large positions
[2016-06-12 03:01:13] j8 : and changing to 50x with no warning
[2016-06-12 03:01:14] sleger : completely different, i had no problem with those changes
[2016-06-12 03:01:40] micmix : marking method that just asks for large DPE
[2016-06-12 03:01:46] j8 : if they switched to mark-to-market that would also affect pricing, probably in the favour of longs. you've been arguing for that
[2016-06-12 03:01:46] sleger : here, it's a change that simply lowers the price, just some kind of market manipulation
[2016-06-12 03:02:25] rapidtrades : sleger: how do u know
[2016-06-12 03:02:37] sleger : j8: im not sure mark to market would really increase the price, and at the time i had a small position in the swap
[2016-06-12 03:02:55] sleger : rapidtrades: same product, plus a fee if you're long, what do you think?
[2016-06-12 03:03:25] rapidtrades : what fee
[2016-06-12 03:03:25] aethlios : rebalance premium every day, this will market spot.
[2016-06-12 03:03:51] rapidtrades : does bitmex get that fee or shorts?
[2016-06-12 03:03:58] sleger : shorts ofc
[2016-06-12 03:04:01] micmix : but I agree that such changes should be announced in advance, like 1-2 weeks
[2016-06-12 03:04:02] rapidtrades : yessssssssssssssssssssss
[2016-06-12 03:04:08] rapidtrades : motherfucking score
[2016-06-12 03:04:23] sq : actually i think bitmex been talking bout it for a while here
[2016-06-12 03:04:41] sq : at least i read bout it a few times here
[2016-06-12 03:04:44] sq : but didnt know its today
[2016-06-12 03:04:56] rapidtrades : had no clue too
[2016-06-12 03:05:11] j8 : if you were really paying attention you would have an idea that this was coming eventually. but it was not communicated in any official way
[2016-06-12 03:05:12] rapidtrades : maybe they posted here and ggwp spam buried it
[2016-06-12 03:05:13] aethlios : killing premium every day will increase volume, because shorts will have confidence to short and hedge.
[2016-06-12 03:05:16] rapidtrades : i hate that guy
[2016-06-12 03:06:12] rapidtrades : sleger: can i have 2 sec notice before u dump yo shit
[2016-06-12 03:06:29] sq : loloool
[2016-06-12 03:06:34] sleger : i wont dump cause they cant make the change like that
[2016-06-12 03:06:44] rapidtrades : bro its bitmex
[2016-06-12 03:06:54] rapidtrades : i feel ya but its a done deal
[2016-06-12 03:07:15] sleger : there is 3.5m $ nop, if they kill the premium by changing a live contract, they decide to transfer at least 15m$ from longs to shorts
[2016-06-12 03:07:23] sleger : reputation would be destroyed
[2016-06-12 03:07:35] lockhedge : the new index is public since June 8 https://www.bitmex.com/app/index/.XBTUSDPI8H
[2016-06-12 03:07:47] sleger : sorry wrong maths
[2016-06-12 03:08:02] rapidtrades : lockhedge: so they talked about it here?
[2016-06-12 03:08:11] rapidtrades : god dam ggwp and his spam
[2016-06-12 03:08:13] sleger : 35k$
[2016-06-12 03:09:08] lockhedge : rapidtrades: yes, Arthur explained that they were testing it
[2016-06-12 03:09:13] rapidtrades : 0.5367% <<< is this the maxium allowed premium or what
[2016-06-12 03:09:14] BitMEX_Wally : The rate will rise to 0.375% first so that is $13k
[2016-06-12 03:09:20] rapidtrades : sweet
[2016-06-12 03:09:45] aethlios : 2 weeks is a year in btc time.
[2016-06-12 03:09:51] BitMEX_Wally : The fundingRate cannot rise by more than 0.375% at a time, and it is capped at 1.125%
[2016-06-12 03:10:00] sleger : BitMEX_Wally: so the operators of the exchange decided to transfer 13k$ from some clients to others ?
[2016-06-12 03:10:10] rapidtrades : BitMEX_Wally: talking about the premium index
[2016-06-12 03:10:16] rapidtrades : says 0.5367% right now
[2016-06-12 03:10:27] rapidtrades : means what
[2016-06-12 03:10:32] BitMEX_Wally : sleger: The `.USDBON8H` index could have blown up to 1% again like last week
[2016-06-12 03:10:53] sleger : could have
[2016-06-12 03:11:05] sleger : i signed up to trade the market
[2016-06-12 03:11:16] j8 : it sucks, but something does need to be done, fast. $35k is peanuts compared to the likely DPE losses if this continues as it is
[2016-06-12 03:11:19] sleger : not having money moved from one client to another outside of my control
[2016-06-12 03:11:32] sleger : j8: yes but then slow change over 2 weeks
[2016-06-12 03:11:35] sleger : id be ok with that
[2016-06-12 03:11:59] sleger : or then bitmex should pay the 35k
[2016-06-12 03:12:10] j8 : yeah, these sudden announcements are awful.
[2016-06-12 03:12:37] rapidtrades : sleger: bro u will only pay 2k, no biggie
[2016-06-12 03:12:50] lockhedge : sleger: agree that it should have been done 2 weeks earlier, but doesn't make sense to wait even longer now
[2016-06-12 03:12:53] sleger : i dont like getting stolen from
[2016-06-12 03:13:25] rapidtrades : i feel like this swap has a built in defect
[2016-06-12 03:13:39] rapidtrades : that can't be fixed
[2016-06-12 03:13:45] j8 : of course it does
[2016-06-12 03:14:08] rapidtrades : maybe it needs to be tethered with a delivery date, even if it needs to be 5yrs out
[2016-06-12 03:15:14] j8 : wouldn't help much. it needs to be within 0.5% of the mark price realistically
[2016-06-12 03:16:32] j8 : if you can find a way to mark-to-market then thats no problem, but then how do you make it track spot
[2016-06-12 03:16:59] 1QaZxSw2 : i missed some of the discussion. so basically profit moved from shorts to longs?
[2016-06-12 03:17:00] lockhedge : they could just mark to marked, but that would have been a much more drastic change and probably triggered liquidations
[2016-06-12 03:17:21] sleger : but that would have been fair
[2016-06-12 03:17:42] rapidtrades : 1QaZxSw2: we have no clue what's about to happen
[2016-06-12 03:17:42] BitMEX_Wally : If we marked to market then the swap would bear no relation to Bitcoin
[2016-06-12 03:17:55] sleger : BitMEX_Wally: thats incorrect
[2016-06-12 03:18:15] sleger : i can arb that easily if the swap is say 50$ above market
[2016-06-12 03:18:16] 1QaZxSw2 : so did something happen already or is something planned to happen?
[2016-06-12 03:18:25] BitMEX_Wally : You could bid it up and up, get realised PNL, and bid it up some more
[2016-06-12 03:19:02] sleger : some people will keep it down dont worry
[2016-06-12 03:19:16] BitMEX_Wally : sleger: But why? Because it has the word XBTUSD on it?
[2016-06-12 03:19:29] sleger : no, because rebalancing
[2016-06-12 03:19:36] BitMEX_Wally : Rebalancing happens at the mark price
[2016-06-12 03:19:48] 1QaZxSw2 : im kinda scared. i have a rather largish position open. should i close and wait for bitmex to finish the change?
[2016-06-12 03:19:51] BitMEX_Wally : We can't rebalance at the index price and mark to the swap price
[2016-06-12 03:20:24] sleger : why not
[2016-06-12 03:20:26] BitMEX_Wally : 1QaZxSw2: In 16 hours time long will pay a higher funding rate
[2016-06-12 03:20:41] BitMEX_Wally : sleger: Because we cannot rebalance a position below its liquidation price
[2016-06-12 03:20:43] 1QaZxSw2 : oh, i see.
[2016-06-12 03:21:03] BitMEX_Wally : If spot is 600 and swap is 630 and someone goes 50x long at 630
[2016-06-12 03:21:07] BitMEX_Wally : It is not possible to rebalance them at 600
[2016-06-12 03:21:26] sleger : BitMEX_Wally: well that would liquidate it, but its not worse than today
[2016-06-12 03:21:41] sleger : where people buy way above the mark
[2016-06-12 03:21:51] BitMEX_Wally : Right, but to liquidate is the same as marking to spot...
[2016-06-12 03:22:07] j8 : it would be instant DPE if you tried to rebalance it
[2016-06-12 03:22:25] rapidtrades : who's buying at $4 premium AFTER we just discussed this ^^^^^^^^^^^^^^^^^
[2016-06-12 03:22:25] BitMEX_Wally : Correct
[2016-06-12 03:22:48] rapidtrades : 250k....
[2016-06-12 03:23:08] 24hourz : is the 37 minutes the re-balancing for the contract or just for funding ?
[2016-06-12 03:23:15] BitMEX_Wally : 24hourz: Funding
[2016-06-12 03:23:44] BitMEX_Wally : sleger: I understand that you would like more notice and do not feel these changes are fair. At the moment you are going to pay more in DPE than funding today. Our goal is to reduce DPE
[2016-06-12 03:23:49] 24hourz : thanks !!
[2016-06-12 03:23:59] 1QaZxSw2 : so only new interest payments are affected right? not the ones that are already paid
[2016-06-12 03:24:26] BitMEX_Wally : 1QaZxSw2: Of course
[2016-06-12 03:24:58] 1QaZxSw2 : and higher interest will reduce DPE?
[2016-06-12 03:25:12] asdfman : such huge orders on book
[2016-06-12 03:25:46] rentchev : Yeah, noticed as well
[2016-06-12 03:26:02] rentchev : mid someone swapping positions?
[2016-06-12 03:27:08] micmix : BitMEX_Wally: have you considered rebalance every 8 hours at the same time as funding?
[2016-06-12 03:28:17] BitMEX_Wally : micmix: We've considered it but do not think it would offer much advantage
[2016-06-12 03:28:38] j8 : more often is definitely better. localize the damage, don't wait for a retrace
[2016-06-12 03:29:05] j8 : plus, track spot better hopefully
[2016-06-12 03:29:17] asdfman : 630.00 100000 05:24:42 B
[2016-06-12 03:29:20] asdfman : hooooh
[2016-06-12 03:30:12] rentchev : Someone is buy a lot of BTC and hedging with a short here?
[2016-06-12 03:30:13] sleger : agree with j8 and micmix. Why best and more fair solutions are being ignored is insane
[2016-06-12 03:30:18] rentchev : buying