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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[2016-06-13 15:24:06] aethlios : like a nice rain, to clear things
[2016-06-13 15:24:18] zanza : $40 drop
[2016-06-13 15:24:42] Bitcoingirl : i'm calling it
[2016-06-13 15:24:48] luckynuke : china gets raped
[2016-06-13 15:24:49] rapidtrades : longs really need to throw in the towel here
[2016-06-13 15:24:52] Bitcoingirl : this is the beginning of the pop
[2016-06-13 15:24:56] Bitcoingirl : we're gonna see 500
[2016-06-13 15:24:57] rapidtrades : its getting silly
[2016-06-13 15:25:09] ayy_lmao : need him to get liquidated so i can close into lol
[2016-06-13 15:25:28] mrp1nk : snort moar
[2016-06-13 15:29:19] billz : looks like 680 was support but obviously shakey
[2016-06-13 15:29:32] luckynuke : china is fighting bulls vs bears
[2016-06-13 15:31:06] rapidtrades : long pl0x, give it up
[2016-06-13 15:32:14] ayy_lmao : finex in denial
[2016-06-13 15:32:55] billz : is rekt bot out of commission? someone had to be liquidated in drop just now lol
[2016-06-13 15:33:33] ayy_lmao : happened so fast mark price might have never updated
[2016-06-13 15:33:46] rapidtrades : bot's dead afaik
[2016-06-13 15:34:49] mrp1nk : up is up
[2016-06-13 15:35:14] rapidtrades : up should be over until china wakes up
[2016-06-13 15:35:24] rapidtrades : key word should :)
[2016-06-13 15:35:39] mrp1nk : you bearish rapid?
[2016-06-13 15:35:51] rapidtrades : only here
[2016-06-13 15:36:27] mrp1nk : here at bitmex or in this range?
[2016-06-13 15:37:00] Bitcoingirl : bubble has not ran out of steam yet
[2016-06-13 15:37:02] Bitcoingirl : TO THE MOON
[2016-06-13 15:37:22] rapidtrades : mrp1nk: short swap
[2016-06-13 15:37:28] luckynuke : get doun
[2016-06-13 15:37:32] ayy_lmao : after retrace yes
[2016-06-13 15:37:44] luckynuke : china below 700
[2016-06-13 15:38:01] luckynuke : bears won the battle
[2016-06-13 15:38:34] Bitcoingirl : wtf instant liquidiated?
[2016-06-13 15:38:35] Bitcoingirl : Your long position in the contract XBTUSD has reached its liquidation price of ≤ 691.1 and has been taken over by the trading engine.
[2016-06-13 15:38:44] Bitcoingirl : ffs
[2016-06-13 15:38:53] ayy_lmao : lol
[2016-06-13 15:38:56] ayy_lmao : 'fair price'
[2016-06-13 15:38:57] mrp1nk : Bitcoingirl: mexed
[2016-06-13 15:39:04] ayy_lmao : i told u guys this shit be rigged yo
[2016-06-13 15:39:14] Bitcoingirl : ughhh i should have used cross
[2016-06-13 15:39:17] Bitcoingirl : instead of 35x leverage lol
[2016-06-13 15:39:29] luckynuke : Bulls R.I.P. in pieces
[2016-06-13 15:39:33] ayy_lmao : going long puts you at an immediate 12 dollar loss
[2016-06-13 15:39:33] Bitcoingirl : bitmex is hard to trade with $13 premium
[2016-06-13 15:39:39] arbitrage001 : Bitcoingirl: you might lose more btc then
[2016-06-13 15:39:41] ayy_lmao : which is used for liq
[2016-06-13 15:40:16] mrp1nk : ayy_lmao: product is fine they said
[2016-06-13 15:40:31] elmorte : Oh shit...that feeling when you forget you left an open order and hear that "filled" sound....
[2016-06-13 15:40:39] Bitcoingirl : going all in, short
[2016-06-13 15:41:26] luckynuke : never go all in
[2016-06-13 15:41:52] REKT : Liquidated long on `XBTUSD`: Sell 2000 @ 689.19
[2016-06-13 15:41:56] arbitrage001 : looks like short going to get dpe this time
[2016-06-13 15:41:57] BTCDJS : Bitcoingirl: dont
[2016-06-13 15:41:57] ayy_lmao : bulls : https://www.youtube.com/watch?v=ZdBono3HqOE
[2016-06-13 15:42:02] REKT : Liquidated long on `XBTUSD`: Sell 5848 @ 685.73
[2016-06-13 15:42:02] REKT : Have a bowl of chop-chop suey!
[2016-06-13 15:42:02] REKT : Liquidated long on `XBTUSD`: Sell 90 @ 686.33
[2016-06-13 15:42:02] REKT : Liquidated long on `XBTUSD`: Sell 1583 @ 686.39
[2016-06-13 15:42:02] REKT : Liquidated long on `XBTUSD`: Sell 300 @ 686.17
[2016-06-13 15:42:02] REKT : Liquidated long on `XBTUSD`: Sell 95 @ 687.29
[2016-06-13 15:42:06] Bitcoingirl : BTCDJS: entry price 700, spot 685
[2016-06-13 15:42:11] ayy_lmao : there we go
[2016-06-13 15:42:11] elmorte : oh shit, twice!
[2016-06-13 15:42:14] elmorte : lol
[2016-06-13 15:42:25] luckynuke : wooot wooot
[2016-06-13 15:42:26] BTCDJS : Bitcoingirl: pumps not over
[2016-06-13 15:42:34] Bitcoingirl : pump is over
[2016-06-13 15:42:38] arbitrage001 : BTCDJS: you mean dump not over?
[2016-06-13 15:42:40] Bitcoingirl : we're hitting 500
[2016-06-13 15:42:48] arbitrage001 : less than 690 usd in china
[2016-06-13 15:42:51] ayy_lmao : idk that seems kinda low
[2016-06-13 15:43:21] Bitcoingirl : we can't hold 690 680
[2016-06-13 15:43:40] ayy_lmao : fucking premium man
[2016-06-13 15:43:48] arbitrage001 : our chinese overlords are trying to kill traders, both long and short
[2016-06-13 15:44:04] BTCDJS : arbitrage001: if it breaks 670 then 653 is next support.
[2016-06-13 15:44:21] luckynuke : chinese want to conquer the earth guys
[2016-06-13 15:44:23] ayy_lmao : bitmex has barely done anything on this dump
[2016-06-13 15:44:23] arbitrage001 : BTCDJS: i dont believe in technical analysis
[2016-06-13 15:44:30] aethlios : west is strong
[2016-06-13 15:44:41] ayy_lmao : 2 stronk 4 me
[2016-06-13 15:45:38] Yumi : well, at least the premium is fixed, right
[2016-06-13 15:45:55] sam : thank god i was watching huobi
[2016-06-13 15:45:56] arbitrage001 : Yumi: no
[2016-06-13 15:46:01] luckynuke : bitmex is staying bullish wow
[2016-06-13 15:46:02] sam : huobi
[2016-06-13 15:46:10] ayy_lmao : i no rite
[2016-06-13 15:46:14] ayy_lmao : bitmex and its damn bullish bias
[2016-06-13 15:46:41] sam : up again in 10days brexit
[2016-06-13 15:46:45] BTCDJS : arbitrage001: anyway All in anytime is not a good idea unless she's joking
[2016-06-13 15:46:51] messiaen8844 : why complain? if you are bearish you have a premium to short
[2016-06-13 15:46:56] Bitcoingirl : BTCDJS: this is my play money fnud
[2016-06-13 15:47:01] Bitcoingirl : i'm trading for fun, not profit
[2016-06-13 15:47:06] Bitcoingirl : so im going all in
[2016-06-13 15:47:07] ayy_lmao : impying premium goes back to normal
[2016-06-13 15:47:12] BitMEX_Sam : 2% premium & 0.7787% funding is a very good short
[2016-06-13 15:47:48] messiaen8844 : huge 4h volume
[2016-06-13 15:47:50] arbitrage001 : BitMEX_Sam: next funding will be 1.125%?
[2016-06-13 15:48:00] BitMEX_Sam : Likely arbitrage001
[2016-06-13 15:48:05] Yumi : BitMEX_Sam: but "buy the dip"
[2016-06-13 15:48:06] arbitrage001 : BitMEX_Sam: wee
[2016-06-13 15:48:31] messiaen8844 : Yumi: when there's enough people buying the dip large positions can calmly exit
[2016-06-13 15:48:53] elmorte : *phew* closed 20k contracts....damn what a ride
[2016-06-13 15:49:25] BTCDJS : Bitcoingirl: fair enough. Have fun ?
[2016-06-13 15:50:16] Bitcoingirl : haha thanks
[2016-06-13 15:50:26] sam : bear trap?
[2016-06-13 15:50:30] Bitcoingirl : im going to bed.. set a take profit order
[2016-06-13 15:50:35] Bitcoingirl : not gonna set a stop loss, im all in baby
[2016-06-13 15:51:05] arbitrage001 : some whale just sold market order?
[2016-06-13 15:51:35] ayy_lmao : lol
[2016-06-13 15:52:01] billz : okcoin didn't move
[2016-06-13 15:52:16] rentchev : BitMEX_Sam: love the Close on Trigger option
[2016-06-13 15:53:02] rentchev : what price is it at billz?
[2016-06-13 15:53:05] BTCDJS : going long
[2016-06-13 15:53:12] BitMEX_Sam : rentchev: Thanks - purpose of that order is to ensure other orders can't take the margin that your stop requires to activate
[2016-06-13 15:54:30] billz : rentchev: still at 4764
[2016-06-13 15:54:41] rentchev : thanks
[2016-06-13 15:54:55] luckynuke : chinese boyz above 700
[2016-06-13 15:55:13] Bitcoingirl : BitMEX_Sam: You know what would be cool? A warning if an order will be immediately liquidated
[2016-06-13 15:55:25] BitMEX_Sam : Bitcoingirl: There is one
[2016-06-13 15:55:44] Bitcoingirl : I didn't hit it when I longed at 35x and got an immediate liquidation within two seconds
[2016-06-13 15:57:43] BTCDJS : Bitcoingirl: damn. All in too? Thats rough.
[2016-06-13 16:01:26] luckynuke : Bitcoingirl: take a pause
[2016-06-13 16:01:30] mrp1nk : Bitcoingirl: https://twitter.com/BTCVIX/status/742386043622555648
[2016-06-13 16:01:48] mrp1nk : you're famous now
[2016-06-13 16:02:13] Bitcoingirl : lol thanks. yeah ima get some sleep
[2016-06-13 16:02:16] BitMEX_Sam : You were liquidated nearly a full minute after placing that order and some of it appears to have canceled
[2016-06-13 16:02:39] Bitcoingirl : BitMEX_Sam: which order are you referring to? the 2500 qty one?
[2016-06-13 16:02:46] Tetsuo : Bitcoingirl: Go all in long again to make it back!
[2016-06-13 16:03:00] luckynuke : lol
[2016-06-13 16:03:10] BTCDJS : Tetsuo: yes thats a good idea. we are going up now
[2016-06-13 16:03:34] messiaen8844 : https://www.reddit.com/r/BitcoinMarkets/comments/4nrpof/bitmexs_perpetual_xbt_swap_product_struggles/
[2016-06-13 16:03:37] Tetsuo : BitMEX_Sam: Could you please work on your instarekt function! 1 minute seems pretty long to me
[2016-06-13 16:03:45] messiaen8844 : too bad they didn't got bitmex_wally comment about rapidtrades mom
[2016-06-13 16:04:08] mrp1nk : Tetsuo: is suggest "instamexed"
[2016-06-13 16:04:20] mrp1nk : i
[2016-06-13 16:04:22] elmorte : Everything's already been said about rapid's mom :|
[2016-06-13 16:04:30] Tetsuo : lol
[2016-06-13 16:04:31] laisee : mexed out ...
[2016-06-13 16:04:35] messiaen8844 : https://www.reddit.com/r/BitcoinMarkets/comments/4nv2cd/bitmexs_response_to_xbtusd_swap_concerns/
[2016-06-13 16:04:41] Tetsuo : mexed up situation all over again
[2016-06-13 16:04:47] tscha : BTCVIX has invested in a direct competitor of Bitmex IIRC?
[2016-06-13 16:04:57] messiaen8844 : he was affiliate here or something like that
[2016-06-13 16:05:30] tscha : he also invested in another bitcoin trading platform
[2016-06-13 16:05:53] zanza : waleclub?
[2016-06-13 16:05:53] messiaen8844 : I didn't like those sudden bitmex changes, but it's still one of the best services offered in BTC wild-west, so...
[2016-06-13 16:06:08] tscha : zanza: waleclub is a trading platform?
[2016-06-13 16:06:11] mrp1nk : tscha: nothing to do with vix. imo the product IS the problem
[2016-06-13 16:06:26] mrp1nk : still bitmex is in full denial
[2016-06-13 16:06:51] billz : because we aren't crashing yet
[2016-06-13 16:06:52] Bitcoingirl : BitMEX_Sam: (1) none of it was cancelled: " At the time of liquidation, the contract was marked at 690.3 and you were long 2500 contracts."
[2016-06-13 16:07:16] messiaen8844 : I did a lot of trades on those premiums
[2016-06-13 16:07:25] Bitcoingirl : BitMEX_Sam: (2) time from filled to liqudation was seconds, not a full minute. Does the "Time" in order history indicate when it was filled?
[2016-06-13 16:07:25] messiaen8844 : contract and expansion of premiums, good forecasts of price
[2016-06-13 16:07:31] Bitcoingirl : when it was submitted*
[2016-06-13 16:07:55] Bitcoingirl : because the fill -> liquidation time was a few seconds, submit to orderbook -> liqudation was ~50 seconds as you said
[2016-06-13 16:08:11] Tetsuo : still 35m longs on Finex and almost no shorts, next 2 weeks are gonna be funfunfun
[2016-06-13 16:08:20] elmorte : My best trade today was made by mistake
[2016-06-13 16:08:33] Tetsuo : elmorte: those are the best ones!!!
[2016-06-13 16:08:40] Bitcoingirl : BitMEX_Sam: (3) it's totally my fault, i'm playing with fire anyway :)
[2016-06-13 16:08:57] mrp1nk : tscha: tldr don't blame the messenger
[2016-06-13 16:09:22] mrp1nk : sleger gone too
[2016-06-13 16:09:22] tscha : mrp1nk: just saying, because it's a relevant information
[2016-06-13 16:09:31] zanza : interesting comment in that thread, what if Bitmex just fixed the price to a set amount, and adjust the interest
[2016-06-13 16:09:50] mrp1nk : no it's irrelevant. i fully agree with him and i have no affilations with another exchange
[2016-06-13 16:10:26] messiaen8844 : sledger was market making here, no?
[2016-06-13 16:10:52] mrp1nk : there exist historical tensions between vix and bitmex, ok, but still the new product is the problem
[2016-06-13 16:11:30] tscha : I am not commenting on the content of his message. Everybody can make up his/her own mind about it. Providing information who he is and how he is related to Bitmex is obviously relevant when he comments on them.
[2016-06-13 16:11:43] Bitcoingirl : I don't think the new product is as problematic as people makes it seem
[2016-06-13 16:11:52] zanza : tscha: i think so, but i never really looked into it. It used to be a teamspeak club, then they changed it to trading platform I think
[2016-06-13 16:12:17] REKT : Liquidated short on `XBTUSD`: Buy 1500 @ 696.40
[2016-06-13 16:12:20] Bitcoingirl : bitcoin's lending markets are obviously immature
[2016-06-13 16:12:38] messiaen8844 : isn't lack of liquidity the real underlying problem here?
[2016-06-13 16:13:25] messiaen8844 : like in most btc exchanges
[2016-06-13 16:13:29] elmorte : on XBTUSD/
[2016-06-13 16:13:31] elmorte : ?
[2016-06-13 16:13:41] messiaen8844 : yes, and also everywhere
[2016-06-13 16:14:13] elmorte : 11m contracts looks pretty good on paper...
[2016-06-13 16:14:41] rapidtrades : Bitcoingirl: there is no lending market here and that's part of the problem
[2016-06-13 16:14:43] BTCDJS : WTF? I just opened a position and got liquidated straight away
[2016-06-13 16:14:59] ayy_lmao : another one
[2016-06-13 16:15:01] Bitcoingirl : BTCDJS: you're not the only one lol, was it a long?
[2016-06-13 16:15:04] zanza : isolated?
[2016-06-13 16:15:06] Bitcoingirl : what leverage?
[2016-06-13 16:15:18] BTCDJS : 35x long 706
[2016-06-13 16:15:30] Bitcoingirl : BTCDJS: yeah i got insta-liquidated at 35x too
[2016-06-13 16:15:31] rapidtrades : the rates u see are taken from bitfinex...so there is no direct link between ppl fomoing here and interest rates
[2016-06-13 16:15:40] kogroken : With some $7 premium over mark, it's risky to open high leveraged longs.
[2016-06-13 16:15:51] Bitcoingirl : don't long at 35x, when there is a 1.9% premium
[2016-06-13 16:16:07] elmorte : BTCDJS: you serious or what?
[2016-06-13 16:16:10] BTCDJS : not only that the order cost 0.12btc but my main margin only showed 0.05 in it
[2016-06-13 16:16:18] rapidtrades : no doubt there's some correlation but the lack of direct link likely adds to the divergence from spot
[2016-06-13 16:16:27] Bitcoingirl : elmorte: idk if he's serious, but it did happen to me a fe wminutes ago
[2016-06-13 16:16:49] BTCDJS : BitMEX_Sam: whats that about mate?
[2016-06-13 16:16:55] kogroken : The only possible move is to short -_-
[2016-06-13 16:16:57] elmorte : Bitcoingirl: I know :(
[2016-06-13 16:17:06] rapidtrades : maybe there's a bug with 35x?
[2016-06-13 16:17:08] aethlios : rapidtrades: much of lending offers in bitfinex is placed from bitfinex it self. the company earns interest daily from that.
[2016-06-13 16:17:19] rapidtrades : aethlios: don't lie
[2016-06-13 16:17:23] rapidtrades : feg
[2016-06-13 16:17:40] elmorte : rapidtrades: actually, that would make a lot of sense...like how a bank creates money
[2016-06-13 16:17:46] Bitcoingirl : So here's a question, since liquidation is based off market price
[2016-06-13 16:17:54] BitMEX_Sam : There is not a bug, when you open a long with premium, since positions are marked to mark price, you open with a loss
[2016-06-13 16:17:59] billz : now i know to never use 35x leverage lol
[2016-06-13 16:18:07] rapidtrades : its irrelevant to what i said anyway @elmorte
[2016-06-13 16:18:08] BitMEX_Sam : Much like how you open with profit when shorting premium
[2016-06-13 16:18:23] elmorte : rapidtrades: I don't know his sexual orientation :(
[2016-06-13 16:18:24] aethlios : rapidtrades: what i mean is bitfinex rates are not an adequate proxy for bitmex.
[2016-06-13 16:18:25] Bitcoingirl : Maintenance is at 200x, aka you will be liquidated with 0.5% price movement
[2016-06-13 16:18:29] Bitcoingirl : is that right?
[2016-06-13 16:18:33] rapidtrades : why don't they get the insta liquidated window? @BitMEX_Sam
[2016-06-13 16:18:48] BitMEX_Sam : They do, the position is solvent when opening but then the mark turned against them
[2016-06-13 16:19:01] BTCDJS : tried to open a poisition Long 50x 706. It said try different leverage. At 50x the cost was 0.09. so I set at 35x cost was 0.12 but when my order got filled my margin only had 0.05 in it?
[2016-06-13 16:19:19] elmorte : BTCDJS: Did it say what the liqn price was?
[2016-06-13 16:19:22] Bitcoingirl : BTCDJS: that's isolated margin
[2016-06-13 16:19:56] BTCDJS : Nah something fishy going on here
[2016-06-13 16:19:56] ayy_lmao : why not just prevent longs from opening if in the case where mark would liq u
[2016-06-13 16:20:02] mrp1nk : tldr; everything is fine, product is great -> use another exchange to go long
[2016-06-13 16:20:12] rapidtrades : sam says there is a failsafe @ayy_lmao
[2016-06-13 16:20:17] BitMEX_Sam : BTCDJS: I assure you there is not, it is simply math
[2016-06-13 16:20:29] BTCVIX : mrp1nk: bitmex is the short only exchange
[2016-06-13 16:20:44] BTCDJS : BitMEX_Sam: how come I pay 0.12 but only get 0.05 margin?
[2016-06-13 16:20:44] BitMEX_Sam : Premium can be unintuitive because the last price !== mark, so you must be aware of that, but the system is not making mistakes on liquidations
[2016-06-13 16:21:07] rapidtrades : BitMEX_Sam: did u check their 2 liqs?
[2016-06-13 16:21:13] BitMEX_Sam : BTCDJS: Because due to the premium you had 0.07 unrealised loss on opening
[2016-06-13 16:21:22] mrp1nk : yeah, great idea during a major bull run /s @BTCVIX
[2016-06-13 16:21:23] BitMEX_Sam : Yes, rapidtrades, there is no error
[2016-06-13 16:22:43] kogroken : The bull run is part of the reason why there is a premium
[2016-06-13 16:22:52] rapidtrades : $10 premium is 1.4%...if they're using 35/1 they should be able to withstand more then that
[2016-06-13 16:23:07] rapidtrades : around $20 no?
[2016-06-13 16:23:17] BitMEX_Sam : rapidtrades: Don't forget the 0.5% maintenance margin requirement
[2016-06-13 16:23:26] kogroken : I guess best entry times would be close to rebalances, when the premium is more likely removed
[2016-06-13 16:23:27] rapidtrades : ok so 0.9%
[2016-06-13 16:23:42] Yumi : high funding rate = high maintenance margin = low "margin of error" + 2% premium = insta rekt on long
[2016-06-13 16:23:54] lockhedge : BitMEX_Sam: would be great if you could consider a leverage cap instead of an interest cap, you could still use the same formula `max funding rate = (IM-MM)*0.75` becomes `max IM = funding rate/0.75 + MM`
[2016-06-13 16:23:56] rapidtrades : sry 1.9%
[2016-06-13 16:24:11] mrp1nk : kogroken: no, premium stays
[2016-06-13 16:24:35] rapidtrades : im getting $15 for rektage at 35/1...correct? @BitMEX_Sam
[2016-06-13 16:24:44] rapidtrades : ath current prices
[2016-06-13 16:24:50] kogroken : mrp1nk: Hmm, shouldn't it be pretty risk free to short a premium close to rebalances and gain the difference?
[2016-06-13 16:25:08] Bitcoingirl : rapidtrades: don't forget fees
[2016-06-13 16:25:12] rapidtrades : kogroken: i said that 3 days ago
[2016-06-13 16:25:14] Bitcoingirl : if both taker that's 0.15% ?
[2016-06-13 16:25:20] rapidtrades : ah fees too
[2016-06-13 16:25:38] rapidtrades : nah its cool fees are small...maybe $14
[2016-06-13 16:26:07] elmorte : kogroken: it would roll over
[2016-06-13 16:26:14] Bitcoingirl : yeah so it's about $15 rapidtrades
[2016-06-13 16:26:26] Bitcoingirl : premium exceeded $15 at times,
[2016-06-13 16:26:28] rapidtrades : should be yeah $14-15
[2016-06-13 16:27:17] rapidtrades : if premium exceeded mark not spot by $15 then it was a fair liq
[2016-06-13 16:27:26] BTCVIX : I think is a case where mark pricing to the index for liquidations is actually what is causing the problem
[2016-06-13 16:27:27] Bitcoingirl : BitMEX_Sam: to confirm, the "anti instant liquidation" system is actually looking at mark price right? it's not looking at swap price?
[2016-06-13 16:27:34] mrp1nk : kogroken: seems so, but i don't short a major bitcon rally
[2016-06-13 16:27:43] BitMEX_Sam : Yes, it is looking at mark price because mark price is used for liquidations
[2016-06-13 16:28:02] BTCVIX : but mark price is on the index which isn't inline with the product currently
[2016-06-13 16:28:15] Bitcoingirl : OK so when I got liquidated, swap was at 700.20
[2016-06-13 16:28:15] rapidtrades : right
[2016-06-13 16:28:19] mrp1nk : ^ this
[2016-06-13 16:28:22] Bitcoingirl : " Your long position in the contract XBTUSD has reached its liquidation price of ≤ 691.1 and has been taken over by the trading engine. "
[2016-06-13 16:28:28] Bitcoingirl : that's $9
[2016-06-13 16:28:30] Bitcoingirl : i was on 35x
[2016-06-13 16:28:38] kogroken : mrp1nk: Yeah, me neither. Not trying to scalp the movements either with the current XBTUSD problems.
[2016-06-13 16:28:51] tscha : mrp1nk: just long spot and short premium, free ~1% every 4 hours
[2016-06-13 16:28:57] tscha : 8*
[2016-06-13 16:28:58] Bitcoingirl : looking at my order history, premium was $11
[2016-06-13 16:29:00] rapidtrades : its not free ppl
[2016-06-13 16:29:06] kogroken : Love the jun and sep contracts thou.
[2016-06-13 16:29:14] rapidtrades : we just had two back to back DPEs
[2016-06-13 16:29:17] Bitcoingirl : but liquidation threshold should've been at $15?
[2016-06-13 16:29:18] rapidtrades : ffs...
[2016-06-13 16:29:20] Yumi : Okay so they said high funding = no premium but now there is both high funding and a premium
[2016-06-13 16:29:40] elmorte : Yumi: We must go higher
[2016-06-13 16:29:49] mrp1nk : Yumi: you highlighted the logical flaw in the argumentation
[2016-06-13 16:29:50] rapidtrades : jack rates up to 2%
[2016-06-13 16:30:06] Bitcoingirl : rapidtrades: premium was lower when rates were like 1.25%
[2016-06-13 16:30:07] BTCVIX : Bitcoingirl: basically you opened a position right next to liquidation -- taking a long is almost impossible on bitmex at the moment
[2016-06-13 16:30:22] rapidtrades : BTCVIX: math doesn't add up tho
[2016-06-13 16:30:22] mrp1nk : tscha: to lazy for that. why do i need to trade on two exchanges when i want just go long here
[2016-06-13 16:30:29] elmorte : Impossible at high leverage
[2016-06-13 16:30:37] elmorte : But put in a coin or two
[2016-06-13 16:30:44] rapidtrades : BTCDJS: u still here?
[2016-06-13 16:30:53] rapidtrades : where did u get liqed
[2016-06-13 16:30:55] Bitcoingirl : BTCVIX: yeah but the numbers are off. premium was $9, but at 35x it should be $14-$15
[2016-06-13 16:30:57] BTCDJS : yeah
[2016-06-13 16:31:08] Bitcoingirl : BTCDJS: maybe bitmex's liq system is slightly eager?!
[2016-06-13 16:31:25] lockhedge : BTCVIX: great to see that you are trading here again ;)
[2016-06-13 16:31:37] BTCVIX : lockhedge: I am not trading
[2016-06-13 16:31:43] BTCVIX : I am just here for the trollbox
[2016-06-13 16:32:09] elmorte : You get free satoshi if you post at least once a day
[2016-06-13 16:32:36] lockhedge : BTCVIX: ah ok, so great to see that you are trolling here again ;)
[2016-06-13 16:32:41] rapidtrades : BTCVIX: c*nt why did u make me look like a jerk in that chat with sleger?
[2016-06-13 16:32:57] tscha : bitmex's mistake is to assume rational traders. the assumption is that traders will increase their shorts on mex and their longs on spot so premium will vanish. reality is different though, peole are too lazy or don't care or don't understand the system
[2016-06-13 16:33:13] Bitcoingirl : tscha: bitmex needs a good market maker to do that
[2016-06-13 16:33:19] BTCVIX : rapidtrades: well if the mark price is $15 below what the product price doesn't that mean when you enter a long at $715 and the mark is $700 you basically are right up against liquidation
[2016-06-13 16:34:03] rapidtrades : it shouldn't allow u
[2016-06-13 16:34:09] Yumi : Maintenance Margin is 1.28% if you open at x35 you are at 2.85% Initial Margin, so 1.57% to play with, 1.57% of $700 is $11, if she opened at $10 premium than $1 move liquidated her
[2016-06-13 16:34:14] tscha : who would long a $15 inverse premium when funding rate is ~1% every 8 hours and DPE is near, I don't get it
[2016-06-13 16:34:36] Bitcoingirl : BTCVIX: i think i got liquidated 33% value wise earlier
[2016-06-13 16:34:40] elmorte : tscha: looking for a quick flip....the market was crazy an hour ago
[2016-06-13 16:34:42] Bitcoingirl : 35x: $15
[2016-06-13 16:34:47] Bitcoingirl : i got liquidated w/ $9 premium
[2016-06-13 16:34:50] elmorte : like epileptic
[2016-06-13 16:34:57] mrp1nk : tscha: most users come here to go long
[2016-06-13 16:34:59] Bitcoingirl : i don't know where the $6 difference went
[2016-06-13 16:35:14] Bitcoingirl : BitMEX_Sam: is it considering the funding payments? cuz that would explain it
[2016-06-13 16:35:16] kogroken : tscha: On the other hand when the price is going up, shorting is not an option either
[2016-06-13 16:35:19] rapidtrades : Yumi: sam said maintenance is 0.5%
[2016-06-13 16:35:27] Yumi : yea + funding rate
[2016-06-13 16:35:30] rapidtrades : so total around 1.9
[2016-06-13 16:35:32] Bitcoingirl : ooh
[2016-06-13 16:36:01] Bitcoingirl : so 2.8% - 0.5% - 0.15% - 0.77% = 1.38%
[2016-06-13 16:36:02] mrp1nk : but you are right and also basically implying to walk away to go long @tscha
[2016-06-13 16:36:13] Bitcoingirl : 1.38 * 700 = $9.6
[2016-06-13 16:36:15] Bitcoingirl : that explains $9
[2016-06-13 16:36:17] tscha : mrp1nk: yes
[2016-06-13 16:36:24] Bitcoingirl : kk everything adds up now
[2016-06-13 16:36:40] Yumi : well mathed
[2016-06-13 16:36:45] rapidtrades : no way...they add the funding rate?
[2016-06-13 16:36:47] Bitcoingirl : nevertheless i still think bitmex should've had a "your order will be instant liquidated in 2 seconds" warning
[2016-06-13 16:36:53] BTCDJS : well I can't be arsed with any of this anymore. Best time to trade here is before a bull run. Get in while its not so crowded.
[2016-06-13 16:36:56] kogroken : With the current system bitmex basically reduces trading, volume and liquidity by making it unattractive to long (and the trend makes it unattractive to short)
[2016-06-13 16:37:01] tscha : I also think that mid-price-marking wouldbe better
[2016-06-13 16:37:11] Mr Blue : I made nice money today, but ye the fee seemed harsher.. people should stick with x5 / x10 leverage, if you worry about been liquidated.
[2016-06-13 16:37:17] Bitcoingirl : but yes, i put that order in, so my loss
[2016-06-13 16:37:28] elmorte : Bitcoingirl: good for you, took me days to get over my liquidation (by doing the maths properly)
[2016-06-13 16:37:53] tscha : kogroken: don't forget that without the new funding rate, there would be less shorts who can now act as a counterparty for all the longs
[2016-06-13 16:38:01] Bitcoingirl : rapidtrades: why wouldn't you add the funding payment in
[2016-06-13 16:38:12] kogroken : tscha: Good point
[2016-06-13 16:38:19] Bitcoingirl : I would linearly extrapolate the funding rate though
[2016-06-13 16:38:27] rapidtrades : why would u? its not paid for hours @Bitcoingirl
[2016-06-13 16:38:47] elmorte : But getting liqd shouldn't excuse you from paying it
[2016-06-13 16:39:05] rapidtrades : elmorte: but u only pay it if u go over the 8h milestone
[2016-06-13 16:39:07] Bitcoingirl : elmorte: nah that has nothing to do with what I'm talking about
[2016-06-13 16:39:22] elmorte : rapidtrades: I'm pretty sure you pay per minute...
[2016-06-13 16:39:32] rapidtrades : not here u dont
[2016-06-13 16:39:33] Bitcoingirl : elmorte: you pay / gain per 8 hr
[2016-06-13 16:39:41] Bitcoingirl : market is supposed to price it in, continuously
[2016-06-13 16:39:41] iisss : this place is fucking scam
[2016-06-13 16:39:46] iisss : they front run your orders
[2016-06-13 16:39:53] rapidtrades : ^^^ another one
[2016-06-13 16:40:00] Bitcoingirl : from my experience, traders here don't understand, and it's not priced in continuously
[2016-06-13 16:40:02] elmorte : so if I short a minute before funding payment, I get the full % rate? No way...
[2016-06-13 16:40:06] Bitcoingirl : elmorte: yes yo udo
[2016-06-13 16:40:11] Bitcoingirl : elmorte: i did that haha
[2016-06-13 16:40:12] Yumi : iisss: no, they dont, but they might insta rekt you if you do high leverage
[2016-06-13 16:40:14] iisss : you can see it happen on the order book
[2016-06-13 16:40:29] Bitcoingirl : elmorte: got a sweet 1.25%, market took a minute to correct it in with the premium
[2016-06-13 16:40:42] elmorte : Well I'm doing it all wrong then damnit...:)
[2016-06-13 16:40:47] Blargwaffle : The price moved pretty fast after the last funding period I paid attention to.
[2016-06-13 16:40:58] Bitcoingirl : elmorte: but anyway, yes you want to add funding payment in
[2016-06-13 16:41:05] Bitcoingirl : but you want to linearlly scale it
[2016-06-13 16:41:11] Bitcoingirl : so 1 hr past = add 1/8th of the funding payment
[2016-06-13 16:41:19] Bitcoingirl : 7 hrs past = 7/8th of funding payment added or deducted to mark
[2016-06-13 16:41:27] elmorte : Yes, I thought so to....or by minutes or seconds or whatever
[2016-06-13 16:41:37] Bitcoingirl : if they calculated it like this, then i wouldn't have gotten insta-liq'd
[2016-06-13 16:41:51] Bitcoingirl : because that would have gave me a 0.35% margin
[2016-06-13 16:42:02] stf28 : yes and sudden +/- 20$ variation in xbtusd would'nt happen
[2016-06-13 16:42:11] BitMEX_Arthur : Bitcoingirl: The mark price does decay
[2016-06-13 16:42:25] BitMEX_Arthur : https://www.bitmex.com/app/swapsGuide
[2016-06-13 16:42:41] rapidtrades : BitMEX_Arthur: yumi says funding is included in maintence margin is this true
[2016-06-13 16:42:42] BitMEX_Arthur : Please read the section on Position Marking
[2016-06-13 16:43:58] BitMEX_Arthur : rapidtrades: The reason we have caps globally and a per period change is to avoid the situation where a new funding rate is announced and you are instantly liquidated right at the funding timestamp
[2016-06-13 16:44:08] Bitcoingirl : BitMEX_Arthur: gotcha thanks, if that's already factored into the mark price then I don't understand why my order got liquidated
[2016-06-13 16:45:03] Bitcoingirl : BitMEX_Arthur: my price was 702.00, liquidation price was 691.1, that's 1.4%
[2016-06-13 16:45:19] Bitcoingirl : 1/35 = 2.85%, 2.85% - 0.5% - 0.15% (taker fees) = 2.2%
[2016-06-13 16:45:29] BitMEX_Arthur : Bitcoingirl: Can you please submit a support ticket to support@bitmex.com we will look at your account and get back to you with a detailed answer
[2016-06-13 16:45:53] BitMEX_Arthur : We don't discuss specific account details over the public chat
[2016-06-13 16:46:01] Bitcoingirl : thanks. for the record I have nothing against bitmex, i'd just like to know how exactly it is calculated for future information
[2016-06-13 16:46:20] Yumi : Maintenance Margin for swap contract: 0.50% + Exit Commission + Funding Rate
[2016-06-13 16:46:27] BitMEX_Arthur : Bitcoingirl: We appreciate that and will make sure to clearly explain what happened, and how you can prevent it from occurring in the future
[2016-06-13 16:47:11] Bitcoingirl : Yumi: funding rate shouldn't be counted twice, if it's already counted in mark price
[2016-06-13 16:47:20] Yumi : I'd say 99% of traders here don't know/understand what they are trading
[2016-06-13 16:47:33] rapidtrades : looks like neither do u mate
[2016-06-13 16:47:42] elmorte : "...and if it there was any error on our part..." @BitMEX_Arthur
[2016-06-13 16:48:08] rapidtrades : elmorte: that's impossible :)
[2016-06-13 16:48:31] elmorte : I know, but it's good PR
[2016-06-13 16:48:51] elmorte : It's what I'd wanna hear
[2016-06-13 16:49:19] rapidtrades : dam looks like sleger quit for good
[2016-06-13 16:51:36] Yumi : rapidtrades: what do I not understand?
[2016-06-13 16:51:51] zanza : 1 day is not for good :)
[2016-06-13 16:51:56] rapidtrades : funding rate doesn't go into the margin @Yumi
[2016-06-13 16:52:07] elmorte : Yumi: you are kinda fumbling with that formula buddy
[2016-06-13 16:52:50] BTCVIX : elmorte: whats up
[2016-06-13 16:53:02] elmorte : the ceiling?
[2016-06-13 16:53:13] elmorte : wassup dude :)
[2016-06-13 16:53:16] zanza : Do you guys think UK should exit Eurozone?
[2016-06-13 16:53:42] rapidtrades : yes
[2016-06-13 16:53:47] Bitcoingirl : yes
[2016-06-13 16:54:01] mrp1nk : me too. i'm happy if UK is out
[2016-06-13 16:54:19] zanza : heh
[2016-06-13 16:55:39] mrp1nk : heh what
[2016-06-13 16:56:01] zanza : anyone play League Of Legends?
[2016-06-13 16:56:42] elmorte : My wife might....she says LOL everytime I get nekkid...
[2016-06-13 16:56:52] zanza : :o
[2016-06-13 16:57:00] tscha : zanza: I played a bit some time ago, but quit last year
[2016-06-13 16:57:01] rapidtrades : is anyone from the UK here? i know BTCDJS is
[2016-06-13 16:57:34] cengel : The UK is not in the Eurozone. It is in the European Union. The Eurozone is the monetary union of the European Union which uses the euro as common currency.
[2016-06-13 16:58:05] elmorte : cengel: that's it! You're the dude that hated this chat, right?
[2016-06-13 16:58:39] cengel : @elmorte Yes, I re-enabled it to see what all the fuss was about.
[2016-06-13 16:59:05] cengel : Sorry to bring the average IQ of the Trollbox up too much.
[2016-06-13 16:59:24] elmorte : We needed a boost since sleger left
[2016-06-13 17:02:00] elmorte : Any suggestions on a name for a company that deals wrist watches?
[2016-06-13 17:02:18] mrp1nk : not that i don't like the UK or so, but they have been blocking a lot of stuff within the eu. they also kiss us asses too much for me. so let them leave ... @zanza
[2016-06-13 17:02:34] elmorte : I need to send something in to the company secretary by the morning and I'm getting sleepy...
[2016-06-13 17:03:47] tscha : BitMEX_Arthur: what's the reasoning behind the funding rate cap being 75%?
[2016-06-13 17:03:49] kogroken : elmorte: Moontime
[2016-06-13 17:03:56] elmorte : oooh...nice
[2016-06-13 17:04:23] kogroken : At least if you sell for BTC ;)
[2016-06-13 17:05:10] elmorte : Advantage Irish!
[2016-06-13 17:05:26] BitMEX_Arthur : tscha: we don't want to have instant liquidations to happen due to funding increasing beyond your ability to pay in the next period
[2016-06-13 17:05:50] tscha : BitMEX_Arthur: I mean the specific value of 75% - why not 100%
[2016-06-13 17:05:52] elmorte : kogroken: kinda funny when it rolls off the toungue though...."Hi, yeah it's elmorte from Moontime"
[2016-06-13 17:05:54] BTCDJS : rapidtrades: I now live in the UK but I'm actually South African. Been here since 2004 tho
[2016-06-13 17:06:03] tscha : oh nevermind
[2016-06-13 17:06:06] tscha : I get it
[2016-06-13 17:06:10] Yumi : BitMEX_Arthur: is Maintenance Margin of 0.5% increased by Funding Rate or not?
[2016-06-13 17:07:19] BitMEX_Arthur : The maintenance margin stays at 0.50%
[2016-06-13 17:08:19] Yumi : so what is stated here https://www.bitmex.com/app/contract/XBTUSD is wrong, yes?
[2016-06-13 17:09:53] BitMEX_Arthur : You liquidation price is still determined by the 0.50% maintenance margin, when you open a position we make sure you can pay commissions on entry and exit and afford the first period of funding
[2016-06-13 17:10:41] podizzle3k : sleger gone yay
[2016-06-13 17:10:58] podizzle3k : now btcvix needs to hit the road
[2016-06-13 17:11:43] podizzle3k : saltiest most butthurt rektboi
[2016-06-13 17:11:59] podizzle3k : ? all over the Internet
[2016-06-13 17:12:13] podizzle3k : for months
[2016-06-13 17:12:41] elmorte : some soliloquy...
[2016-06-13 17:12:59] podizzle3k : what's that like a haiku
[2016-06-13 17:13:20] elmorte : no...it doesn't follow any form...just talking to oneself
[2016-06-13 17:13:57] podizzle3k : oh might want to check the spelling on that one
[2016-06-13 17:14:08] elmorte : sure go ahead
[2016-06-13 17:14:48] podizzle3k : I'm confidant it's wrong
[2016-06-13 17:14:51] aethlios : just noticed ltc dump to 4.55
[2016-06-13 17:15:11] elmorte : I'm glad you can confide in us :)
[2016-06-13 17:15:23] podizzle3k : they do compare me to Shakespeare alot so I understand the compliment
[2016-06-13 17:16:08] elmorte : You can drop a rhyme?
[2016-06-13 17:17:05] podizzle3k : more pain inside of my brain than a little girl inside of a plane aimed at the world trade
[2016-06-13 17:17:30] elmorte : Slim! Didn't recognize ya
[2016-06-13 17:17:35] Yumi : BitMEX_Arthur: Im sorry Arthur it just doesnt add up to me from what I am seeing
[2016-06-13 17:18:16] podizzle3k : elmorte you clever fuck are you untrollable
[2016-06-13 17:18:50] BitMEX_Arthur : Yumi: why don't you shoot me an email, arthur@bitmex.com probably easier for me to answer all your questions that way
[2016-06-13 17:19:59] BitMEX_Wally : Yumi: The maintenance margin for XBTUSD is currently 0.50% plus 0.7787%
[2016-06-13 17:20:18] Yumi : holy fuck, thank god
[2016-06-13 17:20:23] Yumi : Im not stupid
[2016-06-13 17:20:27] Yumi : after all
[2016-06-13 17:21:21] BitMEX_Wally : But only for longs, as the funding rate is positive
[2016-06-13 17:21:28] BitMEX_Wally : For shorts the maintenance margin in 0.50%
[2016-06-13 17:22:12] elmorte : podizzle3k: just incredibly humble
[2016-06-13 17:23:47] Yumi : rapidtrades: you see this?
[2016-06-13 17:24:10] BitMEX_Wally : The funding rate is not counted twice. If you are long then as the mark price includes it as fair value then it is unrealised profit which is then required as maintenance margin requirement.
[2016-06-13 17:26:52] Yumi : I said 99% of traders don't know/understand what they are trading here and from what Arthur said it seemed like I was included in the 99%
[2016-06-13 17:28:36] BTCDJS : Yumi: how does Finex work?
[2016-06-13 17:28:47] BitMEX_Wally : BTCDJS: It works very well
[2016-06-13 17:29:21] mrp1nk : > "One of the most common complaints about the BitMEX platform is the complexity."
[2016-06-13 17:29:57] elmorte : Which is why I simplify it to this: Insert coin to play...and a few more in case you need to Continue...
[2016-06-13 17:30:14] mrp1nk : > "The concept of expiry dates and various symbols for each contract confused many traders. "
[2016-06-13 17:30:16] j8 : it is turning out to be a pretty confusing product to trade, no one knows what they're doing, there hasn't been much time to understand it
[2016-06-13 17:30:22] mrp1nk : imo the new product is much more confusing
[2016-06-13 17:30:30] tscha : j8: good for you then :)
[2016-06-13 17:30:41] j8 : tscha: yes very good
[2016-06-13 17:31:15] BTCDJS : BitMEX_Wally: you work there?
[2016-06-13 17:31:29] j8 : i don't feel i understand all the ins and outs of it yet either, but one thing i understand is huge interest payments
[2016-06-13 17:31:34] BitMEX_Wally : BTCDJS: I work where?
[2016-06-13 17:31:43] tscha : j8: me too :)
[2016-06-13 17:31:45] BTCDJS : Finex
[2016-06-13 17:32:04] BitMEX_Wally : BTCDJS: That's right, in addition to being the COO of BitMEX I also work for Bitfinex
[2016-06-13 17:32:24] BitMEX_Wally : Except when I'm being sarcastic
[2016-06-13 17:32:27] tscha : easy job
[2016-06-13 17:32:30] BitMEX_Wally : I'm British so you can't telll
[2016-06-13 17:32:55] lockhedge : Wally takes care that interest rates at Finex reflect the market
[2016-06-13 17:33:10] BTCDJS : Oh I recognise sarcasm. Clearly you don't mate
[2016-06-13 17:33:12] elmorte : I heard he fixes them himself
[2016-06-13 17:33:22] BitMEX_Wally : I fix myself twice daily
[2016-06-13 17:33:44] j8 : yep, definitely british
[2016-06-13 17:33:47] elmorte : I thought you could afford someone else to do it by now :)
[2016-06-13 17:34:52] BitMEX_Wally : :)
[2016-06-13 17:44:40] elmorte : BitMEX_Wally: So if I short a minute before funding, I get the full funding rate for 8 hours?
[2016-06-13 17:44:48] BitMEX_Sam : Yes
[2016-06-13 17:45:00] elmorte : Damn....
[2016-06-13 17:45:21] BitMEX_Wally : However, expect the market makers to jack their prices up after the funding is paid
[2016-06-13 17:45:35] elmorte : So I should just short a minute before in a bull market
[2016-06-13 17:45:42] BTCDJS : elmorte: yeah ista liq
[2016-06-13 17:46:27] elmorte : Yeah, but see I was holding this short since 570....and covered at 720. I could've just bought and sold every 8 hrs, no way I would've lost that much in value
[2016-06-13 17:46:48] elmorte : No plans to make it prorated?
[2016-06-13 17:47:22] BTCDJS : elmorte: how can you hold a short from 570 to 720 without getting liquidated?
[2016-06-13 17:47:46] elmorte : My liduidation price was 4k+
[2016-06-13 17:47:56] BTCDJS : what leverage?
[2016-06-13 17:48:00] elmorte : sorry, that q is upside down
[2016-06-13 17:48:14] elmorte : 1.14X
[2016-06-13 17:48:15] BTCDJS : lol
[2016-06-13 17:48:46] BTCDJS : really?
[2016-06-13 17:49:10] BTCDJS : how many contracts is that?
[2016-06-13 17:49:14] BitMEX_Wally : If the funding rate is x% then then market makers will put their prices up by x% just after funding, and decay them down until the next funding period
[2016-06-13 17:49:47] elmorte : yeah...I got liq'd twice because of insufficient funds in Jan/Feb...so like I said, I insert more than one coin to play now
[2016-06-13 17:50:04] elmorte : BitMEX_Wally: assuming an efficient market...
[2016-06-13 17:50:12] BTCDJS : but you're not making any profit right?
[2016-06-13 17:50:35] elmorte : It was covered in spot...so funding was the only profit
[2016-06-13 17:50:51] BTCDJS : really?
[2016-06-13 17:50:51] BitMEX_Sam : :+1:
[2016-06-13 17:51:12] BTCDJS : I didn't realise that was a thing
[2016-06-13 17:51:53] BTCDJS : so what happens when you close? you keep profit?
[2016-06-13 17:51:59] elmorte : Arthur suggested it in an email blast as well...
[2016-06-13 17:52:52] elmorte : 10k contracts...10k USD. You close here, take your losses, sell 10k worth of BTC on spot...the remainder of BTC is your profit there, and funding would be your profit here
[2016-06-13 17:53:09] elmorte : remainder of BTC there would just cover your loss here actually...
[2016-06-13 17:53:57] elmorte : And you're back to where you started, 10k USD, and some extra BTC hopefully