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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[2016-06-24 13:54:49] BitMEX_Wally : If the French had a referendum it would be 67% for Frexit
[2016-06-24 13:55:18] boolander : zee french are striking en masse cuz need more wage make for good time
[2016-06-24 13:56:00] rapidtrades : http://www.zerohedge.com/news/2016-06-24/central-bankers-around-globle-scramble-defend-markets-boe-pledges-345bn-ecb-others-p
[2016-06-24 13:56:22] laisee : but where would the froggies go?
[2016-06-24 13:56:49] boolander : hk
[2016-06-24 13:57:00] laisee : Lantau
[2016-06-24 13:57:02] rapidtrades : only the USD/CNH not retracing...the PBOC is not gonna give up these gains easily :)
[2016-06-24 13:59:42] laisee : Maybe Russia can replace UK in the EC.
[2016-06-24 14:01:02] rapidtrades : lol
[2016-06-24 14:01:39] luckynuke : laisee: i hope. Would be a win win situation
[2016-06-24 14:01:48] rapidtrades : the easy money looks to be ovre in cable....lots of CHOP CHOP
[2016-06-24 14:01:59] rapidtrades : mm dream right now
[2016-06-24 14:02:05] rapidtrades : huge spreads + chop
[2016-06-24 14:03:03] laisee : luckynuke: russian ladies invading europe and cheap vodka .... win win
[2016-06-24 14:04:16] jung1 : rapidtrades: polish exti will be Polend
[2016-06-24 14:04:46] jung1 : an Austria la vista
[2016-06-24 14:04:48] jung1 : hehe
[2016-06-24 14:06:01] boolander : meme box
[2016-06-24 14:06:15] boolander : it's ok, this is a fully licensed and regulated troll box. meme away
[2016-06-24 14:09:31] rapidtrades : watch ur hands ppl
[2016-06-24 14:09:40] rapidtrades : they'e gonna get chopped off
[2016-06-24 14:11:15] asdfman : Livet2015
[2016-06-24 14:11:32] asdfman : aha. screen was not locked :P
[2016-06-24 14:11:35] asdfman : kkkkk
[2016-06-24 14:11:51] rapidtrades : i wonder what sleger is doing on this holiest of days, the day of Brexit
[2016-06-24 14:12:57] rapidtrades : pound retraced to 1.38
[2016-06-24 14:13:11] rapidtrades : prolly not a bad sell at 1.40...with rly wide stop tho
[2016-06-24 14:13:47] bobo : Where can I find information about the Funding Base Index? I'm looking in the SwapGuide, but it does not give me any info at all.
[2016-06-24 14:14:05] bobo : It only sys: he Funding Base Index is a third party source where BitMEX obtains the base currency funding rate.
[2016-06-24 14:14:27] tscha : rapidtrades: you really think you can outperform popular pairs on forex markets sitting on your couch at home?
[2016-06-24 14:15:19] BitMEX_Sam : bobo: That changes depending on the contract
[2016-06-24 14:15:24] rapidtrades : tscha: yes
[2016-06-24 14:15:26] BitMEX_Sam : See https://www.bitmex.com/app/contract/XBTUSD, specifically `Funding Base Symbol`
[2016-06-24 14:16:41] rapidtrades : u know why? cos in the olden days they used to filter traders for skill
[2016-06-24 14:16:47] rapidtrades : now they do it for compliance
[2016-06-24 14:17:00] bobo : BitMEX_Sam: I don't see anything about Funding Base Index on that page.
[2016-06-24 14:17:08] BitMEX_Sam : Funding Base Symbol
[2016-06-24 14:17:13] BitMEX_Sam : Click it - that's the index
[2016-06-24 14:17:17] rapidtrades : does he have an MBA, or a programming degree or physics PHD
[2016-06-24 14:17:35] rapidtrades : then brexit happens and they lose their shit
[2016-06-24 14:18:35] bobo : BitMEX_Sam: thanks.. still figuring out how you calculte the index.. hehe
[2016-06-24 14:18:54] BitMEX_Sam : `The BitMEX .XBTBON8H Index is a 8-hour TWAP of the Bitcoin lending rate at Bitfinex ending at 12:00 UTC from the .XBTBON Index.`
[2016-06-24 14:18:56] bobo : it feels not correct.. we are trading above the index, but still get negative %
[2016-06-24 14:19:06] BitMEX_Sam : There are two parts to the funding rate
[2016-06-24 14:19:12] tscha : forex markets are too efficient, information gets incorporated into prices too quickly. look at BTCEUR this night, was way way easier to make money there than on USDEUR
[2016-06-24 14:19:15] BitMEX_Sam : One is the BFX lending rate, the other is observed trading premium or discount
[2016-06-24 14:19:26] BitMEX_Sam : See https://www.bitmex.com/app/swapsGuide#premium-index
[2016-06-24 14:19:32] tscha : I'd never go the direct/liquid way when there is an ineffiecient/illiquid/indirect way
[2016-06-24 14:19:33] rapidtrades : tscha: tell that to the GBP pairs last night
[2016-06-24 14:19:35] bobo : BitMEX_Sam: What has the BFX lending rate to do with Bitmex?
[2016-06-24 14:19:57] BitMEX_Sam : It's the best available source for what a daily lending rate should be for margin trading
[2016-06-24 14:19:57] tscha : well, GBP is hard to trade on BTC because the volume is so incredibly low, even for private users like us
[2016-06-24 14:20:13] BitMEX_Sam : It's necessary to keep the swap price anchored at spot since technically the value of a future that never expires is Infinity
[2016-06-24 14:20:16] rapidtrades : meant gbp/usd ror gbp/jpy
[2016-06-24 14:20:30] BitMEX_Wally : For XBTUSD and ETHXBT the premium index is now the dominant source for the funding rate
[2016-06-24 14:21:15] bobo : BitMEX_Sam: I undestand that otherwise the price can go to infinite... but I don't undersant why the lending rate of bfx is needed to keep the swap price anchoreed
[2016-06-24 14:21:16] tscha : yes, but betting on a brexit this night, BTCEUR markets were a much better choice than forex, since the latter incorporated every poll announcement in a matter of seconds
[2016-06-24 14:21:43] BitMEX_Wally : bobo: We are using Bitfinex lending rates as a proxy for the Bitcoin overnight rate
[2016-06-24 14:22:01] bobo : ok
[2016-06-24 14:22:12] BitMEX_Wally : But we have higher leverage than Bitfinex, so those rates were not high enough to entice market makers to short
[2016-06-24 14:22:20] BitMEX_Wally : So we introduced the `.XBTUSDPI` premium index
[2016-06-24 14:22:30] bobo : yes I know you changed this and that..
[2016-06-24 14:22:34] rapidtrades : tscha: dude....i traded last night and made a good deal of money
[2016-06-24 14:22:49] bobo : but in theory it's possible that even though we are trading above spot, we always have negative interest rates.. correct?
[2016-06-24 14:23:12] BitMEX_Wally : The impact bid price is not above spot at the moment
[2016-06-24 14:23:24] rapidtrades : like i said before, not sure if BTC spike will stick...there's no reason why it should
[2016-06-24 14:23:42] rapidtrades : im only long cos we're going up
[2016-06-24 14:23:42] asdfman : reason in markets?
[2016-06-24 14:23:45] asdfman : aaakkakaka
[2016-06-24 14:23:55] bobo : BitMEX_Wally: no? BID 660, ASK 661, sport 659,31
[2016-06-24 14:24:01] rapidtrades : exactly...thats' why i haven't dumped my long
[2016-06-24 14:24:23] jung1 : huobi going for 4400
[2016-06-24 14:24:41] REKT : Liquidated short on `XBTUSD`: Buy 12000 @ 667.40
[2016-06-24 14:24:56] REKT : Liquidated short on `XBTUSD`: Buy 3500 @ 667.57
[2016-06-24 14:25:14] bobo : I would say at that time avg is 660,5, so premium is 1 - 660.5/659,31 = 0,0018049173 is 0,18%
[2016-06-24 14:25:17] tscha : moon
[2016-06-24 14:25:50] wurstgelee : !
[2016-06-24 14:26:08] BitMEX_Wally : `(impactBidPrice-fairPrice)/indicativeSettlePrice` needs to be above the current funding rate (-0.-0763%) for the funding premium to be recorded as positive
[2016-06-24 14:26:54] bobo : I know you calculate it that way.. But I would say it's not correct. It's also not clear for people here. I would guess 98% trading here doesn't understand..
[2016-06-24 14:27:23] jung1 : 4400 !
[2016-06-24 14:27:35] jung1 : damn Im good
[2016-06-24 14:28:05] BitMEX_Wally : bobo: The last few prints have been positive: https://www.bitmex.com/app/index/.XBTUSDPI
[2016-06-24 14:28:08] bobo : Well... have to think about it more..
[2016-06-24 14:28:38] BitMEX_Wally : It is calculated this way because the current fundingRate is already priced in
[2016-06-24 14:28:44] tscha : BTC theme today: https://www.youtube.com/watch?v=-LXl4y6D-QI
[2016-06-24 14:28:48] bobo : BitMEX_Wally: yes, now we are trading WAY above the index
[2016-06-24 14:28:54] BitMEX_Wally : We cannot ignore it, otherwise we get a feedback loop
[2016-06-24 14:28:57] bobo : well, a minute ago
[2016-06-24 14:29:15] wurstgelee : closed my long for now
[2016-06-24 14:29:23] wurstgelee : time to relax, its weekend
[2016-06-24 14:29:25] wurstgelee : =)
[2016-06-24 14:29:28] BitMEX_Wally : 0.316% above the fair value plus the -0.0763% funding rate gives 0.240%
[2016-06-24 14:29:52] BitMEX_Wally : The `.XBTUSDPI` is recorded as a premium above spot but it is measured as the premium above fair value, and then the funding rate used to calculate that fair value is added on
[2016-06-24 14:30:36] bobo : I don't see tjhe feedback loop happening.. but i will study it more..
[2016-06-24 14:30:42] bobo : thanks for taking the time to explain :)
[2016-06-24 14:31:22] BitMEX_Wally : No problem, email wally@bitmex.com if you have any questions
[2016-06-24 14:31:59] bobo : BitMEX_Wally: thanks, maybe i will.. :)
[2016-06-24 14:34:00] dylanm78 : Hi all. This may have been answered elsewhere already but are there any plans for an official bitmex app (iphone or android)?
[2016-06-24 14:34:22] BitMEX_Sam : dylanm78: Not at this time.
[2016-06-24 14:34:32] BitMEX_Sam : I do plan to make the site perform better on the phone in the near-term.
[2016-06-24 14:35:08] Rado : BitMEX_Sam: mobile web is better than native app in my opinion
[2016-06-24 14:35:19] jung1 : BitMEX_Sam: yeah or some app
[2016-06-24 14:35:23] BitMEX_Sam : If it works well, it is - at least it's far easier to maintain and keep consistent
[2016-06-24 14:35:39] jung1 : like tabtrader
[2016-06-24 14:35:45] BitMEX_Sam : I plan to integrate something like http://voronianski.github.io/react-swipe/demo/
[2016-06-24 14:35:54] BitMEX_Sam : We are also working on integrations with apps like tabtrader
[2016-06-24 14:36:03] rapidtrades : BitMEX_Sam: any ETA on mt4? could it happen this year?
[2016-06-24 14:36:17] BitMEX_Sam : I would bet that it is not likely this year
[2016-06-24 14:36:28] Rado : what is mt4 rapidtrades?
[2016-06-24 14:36:36] jung1 : meta trader 4
[2016-06-24 14:36:45] jung1 : trading platform for forex
[2016-06-24 14:37:04] RoftheN : Where can I buy GBP with bitcoins?
[2016-06-24 14:37:19] Rado : lol RoftheN
[2016-06-24 14:37:25] jung1 : kraken, safello
[2016-06-24 14:37:33] RoftheN : oh Kraken, I have that. thanks
[2016-06-24 14:37:35] Rado : don't sell your BTC man
[2016-06-24 14:37:35] jung1 : localbitcoins
[2016-06-24 14:37:51] luckynuke : omg... 10min afk and breakout
[2016-06-24 14:37:53] luckynuke : wtf
[2016-06-24 14:38:08] rapidtrades : that's why u never leave ur post nuke
[2016-06-24 14:38:08] Rado : so no December contract?
[2016-06-24 14:38:13] rapidtrades : no :(
[2016-06-24 14:38:34] Mm bot : luckynuke: why 10mins?
[2016-06-24 14:38:39] dylanm78 : BitMEX_Sam: thanks. To be perfectly honest I prefer Bitmex but currently trading much more volume through OKCoin just because I can quickly use it at work.
[2016-06-24 14:38:45] Rado : I read the email where the XBJ will have quanto and you can USD to buy
[2016-06-24 14:38:50] Rado : don't get it exactly
[2016-06-24 14:38:51] BitMEX_Sam : Yeah understood dylanm78.
[2016-06-24 14:39:03] BitMEX_Sam : Rado: We'll be adding a display mode that will show the XBJ series in USD
[2016-06-24 14:39:11] BitMEX_Sam : So it will trade essentially like XBT24H did.
[2016-06-24 14:39:21] rapidtrades : except in yen...
[2016-06-24 14:39:32] rapidtrades : which is not the default currency for most traders
[2016-06-24 14:39:33] BitMEX_Sam : Yes, but using a daily conversion rate. Since it's a daily contract it will work well
[2016-06-24 14:39:41] rapidtrades : ok let's see
[2016-06-24 14:39:45] Rado : BitMEX_Sam: but we need a couple of different contracts that are long term
[2016-06-24 14:39:48] Rado : not swap or 24H
[2016-06-24 14:39:55] BitMEX_Sam : Most users won't have to know it's a yen contract, just that it settles on a daily converted rate
[2016-06-24 14:40:07] BitMEX_Sam : Rado: Agreed, would like to have more, but liquidity has been sparse for quite some time
[2016-06-24 14:40:25] Rado : hopefully it increases
[2016-06-24 14:40:27] REKT : Liquidated long on `XBTUSD`: Sell 9500 @ 662.29
[2016-06-24 14:40:36] BitMEX_Sam : 24H, 7D, and Swap have always traded one or two orders of magnitude more than the long-dated contracts
[2016-06-24 14:40:42] Rado : I make far more profit on the quantos compared to swap
[2016-06-24 14:40:51] rapidtrades : itMEX_Sam: Most users won't have to know it's a yen contract>>>> agree let's keep it our little secret
[2016-06-24 14:41:01] REKT : Liquidated long on `XBTUSD`: Sell 9776 @ 658.99
[2016-06-24 14:41:10] asdfman : mine^
[2016-06-24 14:41:22] REKT : Liquidated long on `XBTUSD`: Sell 700 @ 654.33
[2016-06-24 14:41:22] REKT : Getting chopped to death is fun, everyone should try it!
[2016-06-24 14:41:28] jung1 : wtf
[2016-06-24 14:41:48] Rado : BitMEX_Sam: I traded June and September and didn't have to worry about fundding
[2016-06-24 14:41:54] rapidtrades : china dumping again
[2016-06-24 14:42:15] RoftheN : Why is China dumping?>
[2016-06-24 14:42:27] jung1 : what a ride
[2016-06-24 14:42:40] rapidtrades : RoftheN: becos they're nuts
[2016-06-24 14:42:54] Rado : by the way BREXIT far from done deal
[2016-06-24 14:43:04] RoftheN : Guess I closed my long on the right momeny
[2016-06-24 14:43:06] Rado : I am sure there will be twists and turns
[2016-06-24 14:43:38] rapidtrades : its a done deal
[2016-06-24 14:43:51] Rado : also if you think about it BTC was higher pre BREXIT than now
[2016-06-24 14:44:10] Rado : sell off prior to the referendum was bigger than the pump after
[2016-06-24 14:44:27] rapidtrades : that's cos brexit doesn't matter for BTC
[2016-06-24 14:44:46] Rado : what did you think drove the price to $780 then?
[2016-06-24 14:44:54] RoftheN : Halving, China
[2016-06-24 14:44:57] justinlooking : fomo
[2016-06-24 14:44:59] Skitrx : halving
[2016-06-24 14:45:13] jung1 : bot on bitmex
[2016-06-24 14:45:16] Rado : if it's halving then it should be going back to new highs
[2016-06-24 14:45:18] rapidtrades : halving yes
[2016-06-24 14:45:29] Rado : halving still happening
[2016-06-24 14:45:37] jung1 : imo halving pump will be after halving if everything will be ok
[2016-06-24 14:45:43] rapidtrades : Rado: well markets are inefficient but not THAT MUCH
[2016-06-24 14:46:16] Rado : personally looking at the charts I have no idea what comes next
[2016-06-24 14:46:17] rapidtrades : u can't expect it to go up right until the day of halvening...at some point its priced in
[2016-06-24 14:46:57] songxf : Hv questions on how to calculate XBTUSD's funding
[2016-06-24 14:47:50] songxf : I see that the funding was chareged for long posiiton is 0.1442% at 12:00 HKT
[2016-06-24 14:48:14] songxf : guess this is the funding calculated from 04:00, right?
[2016-06-24 14:48:30] BitMEX_Wally : The funding was calculated from 20:00 to 04:00 and then charged at 12:00
[2016-06-24 14:48:37] BitMEX_Wally : There is always 8 hours notice of the funding rate
[2016-06-24 14:49:07] songxf : right. And then if I look at the premius index at 04:00, it's -0.5441
[2016-06-24 14:50:04] songxf : can not really link -0.5441% to 0.1442%
[2016-06-24 14:50:08] BitMEX_Wally : The previous funding was 0.5192%
[2016-06-24 14:50:19] BitMEX_Wally : and it cannot change by more than 75% of MM i.e. 0.375%
[2016-06-24 14:51:37] songxf : what is MM?
[2016-06-24 14:51:56] BitMEX_Wally : Maintenance Margin
[2016-06-24 14:52:14] BitMEX_Wally : https://www.bitmex.com/app/swapsGuide#funding-rate
[2016-06-24 14:54:27] songxf : I see. and https://www.bitmex.com/app/index/.XBTUSDPI8H
[2016-06-24 14:54:33] rapidtrades : any bremain metldowns on utube yet?
[2016-06-24 14:54:39] songxf : is this the index for funding or index for premium?
[2016-06-24 14:54:46] BitMEX_Wally : Yes
[2016-06-24 14:55:18] jung1 : Next james bond will just be him spending 2hours in passport control at De Gaulle
[2016-06-24 14:55:30] elmorte : Lol
[2016-06-24 14:55:52] rapidtrades : :)
[2016-06-24 14:56:46] songxf : BitMEX_Wally: Funding Rate = ( Quote Index - Funding Base index) which is also capped at premium + 0.05% and floored at premium - 0.05%. This means that funding rate should be different from premium index, right?
[2016-06-24 14:57:55] songxf : but how come the previous funding 0.5192 is the same as the premium rate?
[2016-06-24 14:59:44] jung1 : ok go back to 4400
[2016-06-24 15:00:03] Skitrx : looks like its going down
[2016-06-24 15:00:31] BitMEX_Wally : songxf: That 0.05% change came into effect at 12:00 UTC today
[2016-06-24 15:01:31] songxf : so previously you just use the premium index as funding rate, right?
[2016-06-24 15:02:30] BitMEX_Wally : Previously if premium index was positive we took the larger of premium index and quote-base
[2016-06-24 15:02:47] BitMEX_Wally : And if premium index was negative we took the lesser of premium index and quote-base
[2016-06-24 15:03:07] REKT : Liquidated long on `XBTUSD`: Sell 533 @ 650.41
[2016-06-24 15:03:12] BitMEX_Wally : But this led to a step-function when the premium index went slightly negative
[2016-06-24 15:03:49] asdfman : jung1: denied
[2016-06-24 15:03:50] Rado : This guy thinks we are going to $480
[2016-06-24 15:03:52] Rado : https://www.tradingview.com/chart/BTCUSD/44Zy3Gr0-Tighten-seat-belts/
[2016-06-24 15:04:31] tscha : random trader drawing random lines
[2016-06-24 15:04:54] Rado : lol
[2016-06-24 15:04:56] Rado : probably
[2016-06-24 15:05:11] Rado : everything is possible though
[2016-06-24 15:05:15] songxf : @BitMEX_Wally got it.
[2016-06-24 15:05:54] BitMEX_Wally : songxf: I'm heading to bed now, I've been up for 20 hours due to Brexit and Bitcoin volatility :)
[2016-06-24 15:06:04] rapidtrades : BitMEX_Wally: :)
[2016-06-24 15:06:24] BitMEX_Wally : I am sorely disappointed with my fellow Britons
[2016-06-24 15:06:25] songxf : BitMEX_Wally: Have a good night. It's a long day for me as well:)
[2016-06-24 15:06:55] tscha : arthur partying, wally sad... internal bitmex crisis
[2016-06-24 15:06:56] rapidtrades : i took a 2h nap earlier....feel as good as new
[2016-06-24 15:07:06] tscha : good night @ BitMEX_Wally
[2016-06-24 15:07:14] BitMEX_Wally : British citizen in a foreign country = expat. Foreigner in Britain = immigrant. Sad really
[2016-06-24 15:07:33] tscha : indeed
[2016-06-24 15:07:34] Rado : lol
[2016-06-24 15:07:36] Rado : so true
[2016-06-24 15:07:42] BitMEX_Wally : If Bitcoin goes to $1000 then I'll party
[2016-06-24 15:07:44] rapidtrades : you'll feel better once u sleep it off walster
[2016-06-24 15:07:50] donchard : no new quanto why
[2016-06-24 15:07:54] BitMEX_Wally : Brexit has failed to deliver the goods
[2016-06-24 15:08:06] rapidtrades : lol? its day 1
[2016-06-24 15:09:03] Rado : BitMEX_Wally: personally I think there should be no borders, but no central government either
[2016-06-24 15:09:06] rapidtrades : you'll sleep much better without the yolk of the EU choking you
[2016-06-24 15:09:10] donchard : no new quanto contract after june expiry
[2016-06-24 15:09:18] rapidtrades : yes...
[2016-06-24 15:09:29] donchard : why
[2016-06-24 15:09:41] rapidtrades : they killed it
[2016-06-24 15:09:41] Rado : donchard: not enough volume per BitMEX
[2016-06-24 15:09:46] rapidtrades : NOT TRUE
[2016-06-24 15:09:58] rapidtrades : they know say lack of mm
[2016-06-24 15:10:14] rapidtrades : previously they wanted to see 100 BTC per day
[2016-06-24 15:10:24] sq : where u guys think btc is going from here
[2016-06-24 15:10:31] donchard : to much changes
[2016-06-24 15:11:19] sq : up or down
[2016-06-24 15:11:38] elmorte : yes
[2016-06-24 15:11:53] tscha : I agree with elmorte
[2016-06-24 15:12:52] Rado : lol
[2016-06-24 15:13:01] Rado : up, down or flat
[2016-06-24 15:13:23] Rado : I can tell you one way to trade it
[2016-06-24 15:13:25] luckynuke : back to 600?
[2016-06-24 15:13:34] Rado : buy Sep long and short swap with tight stop
[2016-06-24 15:14:13] Rado : then with profit from swap buy more sept
[2016-06-24 15:14:17] Rado : lol
[2016-06-24 15:14:26] asdfman : so you selling sep? ;)
[2016-06-24 15:15:13] Rado : no
[2016-06-24 15:15:35] QuantFocus : nobody is selling sept, so that strat is difficult to execute
[2016-06-24 15:16:24] Rado : PBOC’S ZHOU SAYS GLOBAL COOPERATION NEEDED TO DEAL WITH BREXIT
[2016-06-24 15:16:33] asdfman : looool
[2016-06-24 15:16:37] rapidtrades : mm finally back in GBP pairs
[2016-06-24 15:16:42] asdfman : that would be CITY OF LONDON
[2016-06-24 15:16:57] asdfman : CROWN CORPORATION
[2016-06-24 15:17:05] rapidtrades : ZHOU can suck it
[2016-06-24 15:18:01] asdfman : pope needs to fix this shit
[2016-06-24 15:18:09] asdfman : ungodly event
[2016-06-24 15:18:34] asdfman : maybe he can get help from his god Lucifer
[2016-06-24 15:19:08] asdfman : do some circlejerk with aisdficans without condoms
[2016-06-24 15:19:16] asdfman : aidsfricans
[2016-06-24 15:19:33] asdfman : EAT THE COOKIE, FRANCIS
[2016-06-24 15:19:39] asdfman : EAT IT
[2016-06-24 15:20:17] rullwull : xbj mark price jumps between 65000 to 71000, wtf
[2016-06-24 15:20:25] asdfman : Dear old SPIRITUAL WHITE BOY can suck some big aids-cock
[2016-06-24 15:20:34] rullwull : is it your fair price?
[2016-06-24 15:31:15] BitMEX_Sam : rullwull: We have disabled the impactMid pricing on XBJ for now, liquidity changes were causing swings
[2016-06-24 15:31:18] BitMEX_Sam : Mark price is stable now.
[2016-06-24 15:32:00] Rado : BitMEX_Sam: why XBJ instead of XBY?
[2016-06-24 15:32:07] BitMEX_Sam : JPY
[2016-06-24 15:32:54] rullwull : now its mark is much higher than quoine, hope it would be stable
[2016-06-24 15:35:28] Rado : sorry I got confused
[2016-06-24 15:36:40] rullwull : now it dropped again, nothing stable
[2016-06-24 15:37:15] rullwull : and now back up)
[2016-06-24 15:37:36] rullwull : very big fluctuation
[2016-06-24 15:37:58] BitMEX_Sam : rullwull: We are seeing bad data from Quoine's API
[2016-06-24 15:38:01] BitMEX_Sam : Investigating now
[2016-06-24 15:38:19] rullwull : more than 10%
[2016-06-24 15:38:21] rullwull : ok
[2016-06-24 15:39:38] rullwull : btw im ok if you keep a high price)
[2016-06-24 15:40:08] BitMEX_Sam : Their ticker appears to be returning a last price that fluctuates as much as 2000 yen, whether or not there was a trade
[2016-06-24 15:40:17] BitMEX_Sam : We are switching to another endpoint that is not broken
[2016-06-24 15:42:04] rullwull : ok
[2016-06-24 15:43:27] REKT : Liquidated long on `XBTUSD`: Sell 250 @ 647.62
[2016-06-24 15:43:27] REKT : Liquidated long on `XBTUSD`: Sell 1001 @ 647.48
[2016-06-24 15:46:51] REKT : Liquidated long on `XBTUSD`: Sell 855 @ 646.35
[2016-06-24 15:47:17] REKT : Liquidated long on `XBTUSD`: Sell 1000 @ 645.67
[2016-06-24 15:47:22] REKT : Liquidated long on `XBTUSD`: Sell 250 @ 644.91
[2016-06-24 15:47:22] REKT : Liquidated long on `XBTUSD`: Sell 200 @ 645.21
[2016-06-24 15:47:22] REKT : :btc: :soon: :toilet:
[2016-06-24 15:47:37] REKT : Liquidated long on `XBTUSD`: Sell 40 @ 642.36
[2016-06-24 15:47:37] REKT : Liquidated long on `XBTUSD`: Sell 200 @ 642.26
[2016-06-24 15:48:17] REKT : Liquidated long on `XBTUSD`: Sell 4000 @ 639.55
[2016-06-24 15:48:20] Rado : taking profits from last day pump
[2016-06-24 15:48:22] luckynuke : loool
[2016-06-24 15:48:26] REKT : Liquidated long on `XBTUSD`: Sell 35833 @ 638.75 **MEGA-REKT** :boom:
[2016-06-24 15:48:29] luckynuke : til626
[2016-06-24 15:48:37] REKT : Liquidated long on `XBTUSD`: Sell 100 @ 637.44
[2016-06-24 15:48:37] REKT : Liquidated long on `XBTUSD`: Sell 1000 @ 637.69
[2016-06-24 15:48:41] ayy_lmao : lmao
[2016-06-24 15:48:42] ayy_lmao : $
[2016-06-24 15:48:47] REKT : Liquidated long on `XBTUSD`: Sell 7500 @ 636.62
[2016-06-24 15:48:47] REKT : Liquidated long on `XBTUSD`: Sell 100 @ 635.47
[2016-06-24 15:49:34] Rado : where is support gentlemen?
[2016-06-24 15:49:56] macios15 : 3000-3100?
[2016-06-24 15:50:04] tscha : back to pre-brexit levels hahaha
[2016-06-24 15:51:34] Rado : you guys are not helping
[2016-06-24 15:51:39] Rado : :-)
[2016-06-24 15:51:47] Rado : remove the fear
[2016-06-24 15:51:59] Rado : that's why there are stop orders
[2016-06-24 15:53:02] macios15 : we can retest 4k again lol
[2016-06-24 15:53:11] Rado : 4k yes
[2016-06-24 15:53:23] Rado : 3k will be really bad
[2016-06-24 15:53:38] jung1 : why?
[2016-06-24 15:54:03] Rado : uptrend will be damaged
[2016-06-24 15:54:41] Rado : I love making BTC trading, but I am big believer in BTC and want to see it at $10k
[2016-06-24 15:55:00] luckynuke : Rado: uptrend isnt broken
[2016-06-24 15:55:00] luckynuke : https://www.tradingview.com/chart/BTCCNY/DZ2vNhmU-BTC-CNY-Okcoin-Long-term-view/
[2016-06-24 15:55:15] tscha : LOL
[2016-06-24 15:55:18] Rado : luckynuke: at 3000 CNY will be
[2016-06-24 15:55:24] Rado : that is what I was referring to
[2016-06-24 15:55:29] jung1 : put link with "ok coin"
[2016-06-24 15:56:45] Rado : I am glad I sold some of my Sep at 850
[2016-06-24 15:57:19] jung1 : 2200
[2016-06-24 15:57:20] jung1 : here we go
[2016-06-24 15:57:27] Rado : 2200?
[2016-06-24 15:57:28] jung1 : 4200
[2016-06-24 15:57:32] Rado : lol
[2016-06-24 15:57:36] luckynuke : lol
[2016-06-24 15:58:01] Rado : I will take a break as well
[2016-06-24 15:58:04] Rado : see ya guys later
[2016-06-24 15:58:13] asdfman : Look at 30min
[2016-06-24 15:58:19] asdfman : its gonna puke
[2016-06-24 15:58:24] asdfman : bleed red
[2016-06-24 15:58:55] jung1 : Rado: 2200 its not impossible heh
[2016-06-24 15:59:09] Rado : 0 is also possible
[2016-06-24 15:59:22] men : ethereum on polo has formed cup and handle like bitcoin xD
[2016-06-24 15:59:31] Rado : but the probability is very low
[2016-06-24 15:59:44] men : Rado: yeah it's not impossibile , but the chanche are very low
[2016-06-24 16:00:01] Rado : men: that is one weird handle
[2016-06-24 16:00:16] men : Rado: so much weird :D
[2016-06-24 16:00:34] macios15 : china is sleeping, they always dump at night
[2016-06-24 16:01:08] jung1 : damn look at 6h chart. We are going straight to 3000
[2016-06-24 16:01:31] jung1 : and looks like wally 2.0
[2016-06-24 16:03:52] asdfman : like a zigg-zagg back down?
[2016-06-24 16:05:06] luckynuke : no trades now just watching
[2016-06-24 16:05:16] jung1 : yeah
[2016-06-24 16:05:54] luckynuke : maybe a huge W if we get a retrace to 560
[2016-06-24 16:12:13] asdfman : anybody wanna eat the 645 wall?
[2016-06-24 16:12:40] asdfman : lol
[2016-06-24 16:13:23] elmorte : 20k? that's not even a brick :p
[2016-06-24 16:14:10] asdfman : ah had grouping on
[2016-06-24 16:14:22] asdfman : almost 45k
[2016-06-24 16:20:01] ayy_lmao : bitcoin destroying livrs again
[2016-06-24 16:20:10] ayy_lmao : double banga
[2016-06-24 16:20:38] luckynuke : W is incomming look at 3h chart and buy now
[2016-06-24 16:42:57] rullwull : 3h?
[2016-06-24 17:14:26] jung1 : The EU now has 1 GB of free space
[2016-06-24 17:17:21] CryptoWealth : If BitMex were to have a perpetual non expiring contract with zero swap fees they would take a huge market share of trading volume
[2016-06-24 17:17:52] CryptoWealth : A model that punishes longs doesn't seem very balanced
[2016-06-24 17:18:16] Adura_ : What incentive would there be for sellers?
[2016-06-24 17:19:09] Yumi : funding fee was proven necessary to keep price of swap close to index of spot prices
[2016-06-24 17:19:29] BitMEX_Sam : If there were no funding fees there would be no reason for the swap to trade near spot, aside from mark price.
[2016-06-24 17:19:45] BitMEX_Sam : See e.g. coinpit which tried this and had massive problems
[2016-06-24 17:20:15] CryptoWealth : I always associated the high premium to long expiring contracts
[2016-06-24 17:20:31] BitMEX_Sam : Yes, what the funding rate does is essentially emulate a future of any length
[2016-06-24 17:20:39] BitMEX_Sam : You pay or receive the basis daily rather than all at once
[2016-06-24 17:20:49] BitMEX_Sam : And the premium index more or less simulates basis swings
[2016-06-24 17:20:53] Yumi : and it works both ways, so longs actually got paid last funding period
[2016-06-24 17:21:22] BitMEX_Sam : Which you would expect on a long-dated future - sometimes basis increases, sometimes it decreases. It can swing quite a bit especially with recent events
[2016-06-24 17:22:47] CryptoWealth : since these are synthetic contracts, why not allow regular dollar/BTC buying/selling/hedging, which would keep prices closer to spot. You could still make it BTC withdrawal/deposit only
[2016-06-24 17:23:19] CryptoWealth : and it would simplify calculations
[2016-06-24 17:24:20] CryptoWealth : offer the exact style of trading as Bitfinex, except with higher leverage and zero swap fees
[2016-06-24 17:24:33] BitMEX_Sam : We would need to take USD to do that
[2016-06-24 17:25:13] CryptoWealth : because of regulations?
[2016-06-24 17:25:37] BitMEX_Sam : No, because if you buy a Bitcoin with a Bitcoin, what do you have?
[2016-06-24 17:26:29] BitMEX_Sam : We are however thinking of ways to use the swap to issue novel types of products
[2016-06-24 17:26:35] CryptoWealth : the exact same thing as buying bitcoin on margin while holding bitcoin in one's Bitfinex deposit account
[2016-06-24 17:27:03] BitMEX_Sam : You buy that Bitcoin with USD.
[2016-06-24 17:27:14] CryptoWealth : true
[2016-06-24 17:31:40] CryptoWealth : valid points, I can see why you've been playing with different models
[2016-06-24 17:32:34] Adura_ : A derivative that tracks average fee per block...!
[2016-06-24 17:32:52] CryptoWealth : it was a good idea to consolidate all the BTC trading under one contract... the order books seems to have more liquidity now
[2016-06-24 17:33:03] CryptoWealth : *book
[2016-06-24 17:33:28] CryptoWealth : maybe more people got tired of Glitchfinex after that last train wreck
[2016-06-24 17:33:45] CryptoWealth : "perfect" timing
[2016-06-24 17:36:44] BitMEX_Sam : Yeah it really is not an easy problem, but be sure we're thinking about it all the time.
[2016-06-24 17:36:55] CryptoWealth : and I guess rewarding shorters makes sense since the underlying dollar value of BTC falls
[2016-06-24 17:36:58] BitMEX_Sam : We have some new products that will be built on top of the swap that will be quite interesting
[2016-06-24 17:37:18] CryptoWealth : I do like that it's a BTC only exchange
[2016-06-24 17:37:30] Adura_ : I like it just fine.
[2016-06-24 17:37:37] BitMEX_Sam : Paying shorts is how shorts receive basis. Much like how you would short a quarterly and buy spot
[2016-06-24 17:37:50] CryptoWealth : true
[2016-06-24 17:38:15] CryptoWealth : valid points, that clarifies things
[2016-06-24 17:39:08] Adura_ : A derivative on the average fee per transaction would be useful for profiting off of block size max changes.
[2016-06-24 17:39:39] Adura_ : It'd be Bitcoin-only, as well. No other currency involved.
[2016-06-24 17:42:41] Adura_ : Rebalancing would be based on amount of blocks, rather than time, even.
[2016-06-24 17:43:22] Adura_ : Profit off of Blockstream's continued strangling of Core by longing the instrument.
[2016-06-24 17:47:15] BitMEX_Sam : Would be interesting, I agree, if it were liquid
[2016-06-24 17:47:29] BitMEX_Sam : Could be a nice experiment.
[2016-06-24 17:47:39] BitMEX_Sam : We can list just about anything we have data for, and we have that data
[2016-06-24 17:47:58] Adura_ : The unit of value would be the average fees for a block from the last... x blocks.
[2016-06-24 17:48:43] Adura_ : There are probably other Bitcoin-specific metrics you could use, but it seems like the only way Bitcoin the network values Bitcoin the currency.
[2016-06-24 17:48:48] Adura_ : Other than block rewards...
[2016-06-24 17:49:37] Adura_ : Miners could hedge with the instrument.
[2016-06-24 17:51:12] justinlooking : is everyone bearish?
[2016-06-24 17:55:53] tscha : i am bullish
[2016-06-24 18:01:01] asdfman : test
[2016-06-24 18:01:17] asdfman1 : cool feature
[2016-06-24 18:01:18] justinlooking : cool. me too
[2016-06-24 18:03:01] justinlooking : the fib tool on the chart is so gay
[2016-06-24 18:07:28] justinlooking : not enough xbtusd data for this to be meaningful, but example: https://www.tradingview.com/x/lGGuzxyg
[2016-06-24 18:07:41] asdfman : lol how can i take away MDAC from the chart? got of them up now. clearly bugged
[2016-06-24 18:09:35] asdfman : huobi down?
[2016-06-24 18:11:07] justinlooking : yes asdfman: "Please wait while the upgrade is nearing completion."
[2016-06-24 18:12:36] asdfman : thanks
[2016-06-24 18:13:33] asdfman : announced downtime?
[2016-06-24 18:16:19] justinlooking : not to my knowledge
[2016-06-24 18:18:13] asdfman : "upgrade" :P
[2016-06-24 18:19:53] asdfman : sites like this should have seamless upgrades...
[2016-06-24 18:24:43] asdfman : fuck me, this is going to go more up
[2016-06-24 18:29:30] asdfman : 30k short and going out. really dislike this
[2016-06-24 18:32:10] macios15 : they made moon on huobi
[2016-06-24 18:32:11] jung1 : http://www.theguardian.com/politics/2016/jun/24/top-eu-leader-we-want-britain-out-as-soon-as-possible cant wait when people from english will come to ue as economic immigrants couse of rise prices in whole uk
[2016-06-24 18:38:05] justinlooking : jung1: anywhere u recommend
[2016-06-24 18:47:32] REKT : Liquidated short on `XBTUSD`: Buy 30000 @ 657.80 **MEGA-REKT** :boom:
[2016-06-24 18:48:19] macios15 : HODL!
[2016-06-24 18:54:39] jung1 : justinlooking: portugal
[2016-06-24 18:54:48] jung1 : if you earn money on bitmex
[2016-06-24 18:54:51] jung1 : great place to live
[2016-06-24 18:56:11] Adura_ : https://2.bp.blogspot.com/-eQVNBmJUSuY/V21vQk1hnII/AAAAAAAAC3M/cYVBn1tQ_B0j-Iw0O2WQF3vpTMzLGEvCgCLcB/s1600/Brit+pepe+09.jpg
[2016-06-24 19:04:45] zanza : heh
[2016-06-24 19:05:12] QuantFocus : BitMEX_Sam: i'm sure you'd pick up a ton of market share if it weren't for the US based restrictions
[2016-06-24 19:05:24] QuantFocus : BitMEX_Sam: just too difficult with AML/KYC?
[2016-06-24 19:05:28] BitMEX_Sam : I'm sure it would help but at significant cost.
[2016-06-24 19:05:50] QuantFocus : in terms of licensing/business registration?
[2016-06-24 19:06:10] BitMEX_Sam : And the ongoing process of validating each change we wish to make to the platform
[2016-06-24 19:06:30] Skitrx : whats going on with Huobi :/
[2016-06-24 19:06:42] QuantFocus : ahh
[2016-06-24 19:06:47] Skitrx : oh nvm
[2016-06-24 19:06:53] zanza : low vol ?
[2016-06-24 19:13:23] RoftheN : Does anyone have beginner tips?
[2016-06-24 19:15:15] Adura_ : Have a lot of Bitcoin.
[2016-06-24 19:19:05] RoftheN : Got any better tips?
[2016-06-24 19:22:15] macios15 : dont long the top
[2016-06-24 19:24:33] Rune : don't short the bottom
[2016-06-24 19:28:32] RoftheN : Where's the bottom where's the top?
[2016-06-24 19:28:48] BitMEX_Sam : Use your imagination.
[2016-06-24 19:30:06] Rune : @RoftheN making money is not easy
[2016-06-24 19:30:14] RoftheN : :(
[2016-06-24 19:30:20] RoftheN : But butt I want easy money
[2016-06-24 19:30:40] Rune : yesterday was profitable
[2016-06-24 19:30:48] Rune : longing in the brexit
[2016-06-24 19:31:00] Rune : that was easy money
[2016-06-24 19:31:18] Rune : trading today so far is just gambling seems to me
[2016-06-24 19:32:22] REKT : Liquidated short on `XBTUSD`: Buy 470 @ 665.05
[2016-06-24 19:33:47] RoftheN : Damn it I ended my long too early
[2016-06-24 19:34:05] RoftheN : How am I gonna become a millionaire through this
[2016-06-24 19:34:25] Rune : depends
[2016-06-24 19:34:31] Rune : how much capital you have
[2016-06-24 19:34:53] macios15 : first send me 100k then i will tell u
[2016-06-24 19:35:00] Rune : haha
[2016-06-24 19:35:34] Rune : if you only have 1 or10 bitcoins have to take rmore risk to make a lot
[2016-06-24 19:35:51] Rune : the more you have the less risk you can take
[2016-06-24 19:37:41] RoftheN : I have like 15 bitcoins on total, but only like 1 on this website
[2016-06-24 19:38:03] RoftheN : how to triple my bitcoin?
[2016-06-24 19:38:03] Rune : 15 is not to bad to start with
[2016-06-24 19:38:37] Rune : margain trading is good when it is easy
[2016-06-24 19:38:43] Rune : like the brexit thing
[2016-06-24 19:38:47] Rune : easy long
[2016-06-24 19:38:49] RoftheN : What about the Reward Halving
[2016-06-24 19:38:54] RoftheN : did that pump already happen
[2016-06-24 19:38:59] RoftheN : Or will it happen
[2016-06-24 19:39:01] RoftheN : soon
[2016-06-24 19:39:23] Rune : thats hard to say because bitcoin already went up in anticipation of it
[2016-06-24 19:39:28] RoftheN : Exactly
[2016-06-24 19:39:29] Rune : but it could go up more
[2016-06-24 19:39:35] RoftheN : but then it went down because of bitfinex
[2016-06-24 19:39:37] Rune : it's undecided
[2016-06-24 19:39:40] RoftheN : So I guess a second pump is possible
[2016-06-24 19:39:56] Rune : I am betting on it will pump more
[2016-06-24 19:40:04] Rune : myself
[2016-06-24 19:41:03] RoftheN : So what leverage should I use?
[2016-06-24 19:41:15] Rune : lower to start
[2016-06-24 19:41:18] macios15 : chop chop chop
[2016-06-24 19:41:21] Rune : so you can get used to it
[2016-06-24 19:41:56] Rune : the mark price is not the bitmex market price
[2016-06-24 19:42:02] Rune : it's the spot price
[2016-06-24 19:42:03] RoftheN : But I think if it's TOO low it would be a waste of the upcoming pump
[2016-06-24 19:42:20] Rune : I got called on a big order because I was confused on that before
[2016-06-24 19:42:46] RoftheN : Mark Price is exactly the spot Price
[2016-06-24 19:42:59] RoftheN : So why is the Bitmex price sometimes 10 behind?
[2016-06-24 19:43:21] Rune : because people on here expect it to not go up more
[2016-06-24 19:43:32] Rune : they show how they feel with there money
[2016-06-24 19:43:59] Rune : when bitcoin was really pumping we where 10$ premium
[2016-06-24 19:44:04] Rune : over the price
[2016-06-24 19:44:11] Rune : becuse every one want to be long
[2016-06-24 19:44:11] RoftheN : Ooh okay
[2016-06-24 19:44:18] RoftheN : Makes sense
[2016-06-24 19:46:00] RoftheN : Then one more question. So I put a x15 long margin yesterday before Brexit. But after my long, it went down at first, but then it went up a lot because brexit. But over night the leverage became a lot less and my profit was minimal
[2016-06-24 19:46:12] RoftheN : Why?