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.
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[2014-12-18 09:07:04] dreadpiratedickstein : I hear there are futures here?
[2014-12-18 09:07:08] BitMEX_Arthur : dreadpiratedickstein: Holda
[2014-12-18 09:07:15] BitMEX_Arthur : you have found the right place
[2014-12-18 09:07:15] dreadpiratedickstein : ;)
[2014-12-18 09:07:28] dreadpiratedickstein : ok, so how do I hit up these futures?
[2014-12-18 09:07:30] BitMEX_Arthur : need anything explained
[2014-12-18 09:07:33] dreadpiratedickstein : yes
[2014-12-18 09:08:00] BitMEX_Arthur : ok so we have two types XBT, which has a bitcoin multiplier, you make 0.00001 XBT per $1 usd move
[2014-12-18 09:08:10] BitMEX_Arthur : or we have an XBU series which is worth $100 of bitcoin at all times
[2014-12-18 09:08:26] BitMEX_Arthur : on the XBT we have Dec 14, Jan 15, and Mar 15 expiries
[2014-12-18 09:08:40] BitMEX_Arthur : on the XBU we have Dec 14, Mar 15, and Jun 15 expiries
[2014-12-18 09:08:42] dreadpiratedickstein : so XBT is essentially the futures ticker symbol
[2014-12-18 09:09:02] BitMEX_Arthur : it is the root, so XBTZ14 would be the December 2014 XBT style futures contract
[2014-12-18 09:09:14] dreadpiratedickstein : ok got it
[2014-12-18 09:09:28] dreadpiratedickstein : so the earliest expiry it appears is btz14?
[2014-12-18 09:09:37] dreadpiratedickstein : xbtz14 I mean
[2014-12-18 09:09:46] BitMEX_Arthur : yes 26 December 2014
[2014-12-18 09:09:46] BitMEX_Arthur : XBTZ14 or XBUZ14
[2014-12-18 09:09:54] BitMEX_Arthur : all futures expire last friday of the calendar month
[2014-12-18 09:10:20] dreadpiratedickstein : alright, and we can sell futures as well I assume
[2014-12-18 09:10:24] BitMEX_Arthur : yes
[2014-12-18 09:10:28] BitMEX_Arthur : buy or sell
[2014-12-18 09:10:57] BitMEX_Arthur : if you need more size than what is up on the screen let us know and we will ask our mm to make a quote for you
[2014-12-18 09:10:58] dreadpiratedickstein : and last question, 1 dollar of btc corresponds to 100$ USD fiat, correct?
[2014-12-18 09:13:19] BitMEX_Sam : dreadpiratedickstein: If you mean the XBU series, the XBU series always settles at 100 USD
[2014-12-18 09:13:38] dreadpiratedickstein : ok, so that;s what I want then, got it. Thx
[2014-12-18 09:13:59] BitMEX_Sam : Sure - the XBU series is similar to what is traded on OKCoin et al
[2014-12-18 09:14:09] dreadpiratedickstein : yeah I'm only used to bfx
[2014-12-18 09:14:17] dreadpiratedickstein : but I'm a futures trader by day
[2014-12-18 09:14:20] dreadpiratedickstein : just never btc
[2014-12-18 09:14:46] BitMEX_Arthur : every one has had to do some funky things to keep it in bitcon only
[2014-12-18 09:15:51] BitMEX_Arthur : i used to be a delta one trader
[2014-12-18 09:16:41] BitMEX_Arthur : dreadpiratedickstein: how did you hear about us? we wan to know what marketing channels are effective
[2014-12-18 09:18:38] dreadpiratedickstein : a friend
[2014-12-18 09:18:51] dreadpiratedickstein : well connected friend who trades here
[2014-12-18 09:19:00] BitMEX_Arthur : gotcha
[2014-12-18 09:19:54] dreadpiratedickstein : so how do I access the xpu series with a medium term expiry?
[2014-12-18 09:20:25] BitMEX_Arthur : select the type of contract you would like on the dashboard, then select the maturity
[2014-12-18 09:20:39] BitMEX_Arthur : or if you see the symbol up on the ticker tape click on it and it will take you to that contracts order page
[2014-12-18 09:21:18] dreadpiratedickstein : hmmm all I get are two xbts
[2014-12-18 09:21:49] dreadpiratedickstein : ah
[2014-12-18 09:21:54] dreadpiratedickstein : just figured it out
[2014-12-18 09:21:55] dreadpiratedickstein : thx
[2014-12-18 09:21:59] BitMEX_Arthur : cool
[2014-12-18 09:22:11] dreadpiratedickstein : how much capital is required for say
[2014-12-18 09:22:17] dreadpiratedickstein : xbuh15
[2014-12-18 09:22:40] BitMEX_Arthur : 30% initial margin on the bitcoin notional amt
[2014-12-18 09:22:55] BitMEX_Arthur : so say one contract is worth 1 Bitcoin, you would need to have 0.3 Bitcoin on deposit
[2014-12-18 09:23:12] BitMEX_Arthur : on the order controls, it tells you the gross value, and margin for both buy and sell
[2014-12-18 09:23:22] BitMEX_Arthur : all in XBT which is Bitcoin
[2014-12-18 09:24:04] dreadpiratedickstein : k
[2014-12-18 09:24:27] dreadpiratedickstein : alright, looking forward to a breakdown
[2014-12-18 09:24:54] BitMEX_Arthur : for bitcoin deposits we wait for 1 confirmation
[2014-12-18 09:25:01] dreadpiratedickstein : great
[2014-12-18 09:25:01] BitMEX_Arthur : then you can trade with the funds that are sent
[2014-12-18 09:35:49] joequant : Also take a look at the March futures. Way above spot.
[2014-12-18 09:36:58] BitMEX_Sam : we have some optimistic traders
[2014-12-18 09:37:28] joequant : I have a short position from yesterday that I'm trying to unwind, but the price right now is too high.
[2014-12-18 09:38:20] dreadpiratedickstein : 300 may be the bottom
[2014-12-18 09:38:28] dreadpiratedickstein : I'd rather it break than hold
[2014-12-18 09:38:56] joequant : Same here.
[2014-12-18 09:39:35] dreadpiratedickstein : I think it's better for the coin for the spec bubble to unwind and chase these dumb money VCs out of the picture
[2014-12-18 09:39:50] joequant : I think everyone expects that if breaks 300 all hell will break loose.
[2014-12-18 09:39:59] dreadpiratedickstein : i think it will as well
[2014-12-18 09:39:59] BitMEX_Arthur : it's going to be a hard fought level
[2014-12-18 09:40:04] BitMEX_Arthur : i think it will break this weekend
[2014-12-18 09:40:05] joequant : Which means that if it breaks 300, all hell will break loose.
[2014-12-18 09:40:14] dreadpiratedickstein : i think breaking 330 is already enough momentum to break it
[2014-12-18 09:40:36] BitMEX_Arthur : sat or sun when everyone is on their way to the beach someone will smack the mrkt
[2014-12-18 09:40:51] dreadpiratedickstein : poor nick spanos :(
[2014-12-18 09:41:52] joequant : It's a waiting game for me.
[2014-12-18 09:42:07] joequant : I want to have a ton of coin in reserve
[2014-12-18 09:42:19] joequant : so that I don't get short squeezed if the market spikes up.
[2014-12-18 09:42:27] joequant : So I can't trade today
[2014-12-18 09:42:39] dreadpiratedickstein : I'm just now buying back in to profit on a short...i cashed out on black Friday to buy a gold iphone...there's a robocoin atm near my current location
[2014-12-18 09:43:01] BitMEX_Arthur : haha
[2014-12-18 09:43:04] BitMEX_Arthur : gold iphone 6
[2014-12-18 09:43:19] dreadpiratedickstein : my new treasure, argh
[2014-12-18 09:43:31] BitMEX_Arthur : so funny in hk all the mainland guys hawking the phone for a $130 USD premium to list
[2014-12-18 09:43:33] joequant : I don't think I will be getting much sleep tonight.
[2014-12-18 09:44:20] dreadpiratedickstein : people are so fascinated when I use it...like a gorilla watching a camera flash
[2014-12-18 09:44:36] dreadpiratedickstein : stupid sheeple
[2014-12-18 09:45:51] joequant : I suspect that people might be waiting for late night China time when the volume is low to attack 300.
[2014-12-18 09:46:25] BitMEX_Arthur : when the bear whale attacked it was a sunday night asia i thnk
[2014-12-18 09:46:31] joequant : or else try for a short squeeze
[2014-12-18 10:21:50] dreadpiratedickstein : alright funds incoming
[2014-12-18 10:21:57] dreadpiratedickstein : peanut butter jelly time
[2014-12-18 10:22:02] BitMEX_Arthur : big spenda
[2014-12-18 10:22:20] BitMEX_Arthur : lol i havent heard that song in so long
[2014-12-18 10:24:13] dreadpiratedickstein : https://www.youtube.com/watch?v=DF_tXydR9fU
[2014-12-18 10:24:52] dreadpiratedickstein : now there ya go
[2014-12-18 10:25:16] BitMEX_Arthur : just need a dirty frat house basement and some jungle juice
[2014-12-18 10:25:22] BitMEX_Arthur : and some freshman sorority girls
[2014-12-18 10:38:08] BitMEX_Sam : Seeing a bunch of new bot volume on Testnet today
[2014-12-18 10:38:18] BitMEX_Sam : The faucets have been really generous lately, makes it easy to try things out
[2014-12-18 11:17:02] dreadpiratedickstein : wir mussen die robotten ausrotten!
[2014-12-18 11:22:33] BitMEX_Sam : nein, danke, wir lieben die Automaten
[2014-12-18 11:23:38] dreadpiratedickstein : they kill real human trader demand, all I'm saying
[2014-12-18 11:23:51] BitMEX_Sam : depends. a lot of them are liquidity providers
[2014-12-18 11:24:04] BitMEX_Sam : we have a reference market maker bot we released a few months back that I still see some people using
[2014-12-18 11:24:42] BitMEX_Sam : helps fill up the orderbook on some of the more sparsely-traded contracts
[2014-12-18 11:24:48] dreadpiratedickstein : I've never used a bot and never will...writing the algo for one is a diff story
[2014-12-18 11:24:51] dreadpiratedickstein : if pay is good
[2014-12-18 11:26:30] BitMEX_Sam : they can be useful. I used to do a lot of arb using bots on a few majors
[2014-12-18 11:26:33] BitMEX_Sam : it's easy money generally
[2014-12-18 11:27:05] BitMEX_Sam : opportunities have really dried up recently though, you need to move fiat which is significantly more wor
[2014-12-18 11:27:08] BitMEX_Sam : work*
[2014-12-18 11:32:28] dreadpiratedickstein : yeah, I got burned on gox arbi
[2014-12-18 11:32:31] dreadpiratedickstein : never went back
[2014-12-18 11:32:42] dreadpiratedickstein : ooooo I have my first fill!
[2014-12-18 11:32:55] dreadpiratedickstein : or do I?
[2014-12-18 11:33:05] joequant : I got burned by trying to do a BTC-E arb with Chinese yuan.
[2014-12-18 11:33:11] dreadpiratedickstein : yeah good question, how do you know if you've been filed?
[2014-12-18 11:33:36] joequant : BTC-e didn't burn me, but my bank didn't seem to accept wires from BTC-e.
[2014-12-18 11:36:07] BitMEX_Sam : dreadpiratedickstein: see your positions, it's one of the bottom widgets
[2014-12-18 11:36:17] BitMEX_Sam : You can see orders that have filled in the "All Orders" tab of the order widget as well
[2014-12-18 11:36:28] BitMEX_Sam : orders that are filled move from Open Orders to All Orders after 60s
[2014-12-18 11:37:24] dreadpiratedickstein : got it, thx
[2014-12-18 11:38:39] dreadpiratedickstein : alright ding ding ding
[2014-12-18 11:38:43] dreadpiratedickstein : first fill
[2014-12-18 12:21:06] dreadpiratedickstein : question on withdrawing
[2014-12-18 12:21:15] BitMEX_Sam : Sure
[2014-12-18 12:21:20] dreadpiratedickstein : when I try to withdraw, I keep receiving the notice "must enter a valid value
[2014-12-18 12:21:37] dreadpiratedickstein : qu'est-ce qui se passé ici?
[2014-12-18 12:21:58] BitMEX_Sam : are you attempting to withdraw more than your max?
[2014-12-18 12:22:19] dreadpiratedickstein : I have 2.5 in and just trying to withdraw .5 to test the withdraw system
[2014-12-18 12:22:24] dreadpiratedickstein : i own to contracts
[2014-12-18 12:22:28] dreadpiratedickstein : 2
[2014-12-18 12:22:53] dreadpiratedickstein : ok there we go
[2014-12-18 12:22:56] dreadpiratedickstein : size was too large
[2014-12-18 12:22:59] BitMEX_Sam : ah
[2014-12-18 12:23:10] BitMEX_Sam : your max is right below the input
[2014-12-18 12:23:19] BitMEX_Sam : depends of course on how much of your money is tied up in positions & open orders
[2014-12-18 12:23:35] dreadpiratedickstein : right, it was also to test how leveraged each contract is
[2014-12-18 14:27:34] BitMEX_Wally : dreadpiratedickstein: Check out the Margin (XBT) widget on the right. It shows exactly how much of you margin balance is tied up in initial margin or maintenance margin, and how much is withdraw able.
[2014-12-18 19:05:23] dreadpiratedickstein : k thx
[2014-12-18 19:05:42] BitMEX_Sam : late night?
[2014-12-18 19:05:53] dreadpiratedickstein : short oil....great sucess
[2014-12-18 19:05:59] dreadpiratedickstein : took a nap just woke up
[2014-12-18 19:07:08] BitMEX_Sam : short oil sounds like a good position to be in right now
[2014-12-18 19:07:14] BitMEX_Sam : I can't believe we're seeing $2 gasoline again
[2014-12-18 19:10:09] dreadpiratedickstein : i like
[2014-12-18 19:10:21] dreadpiratedickstein : i got short sub 60...been eating t ever since
[2014-12-18 19:10:46] dreadpiratedickstein : ironically i used to be a peak oil believer
[2014-12-18 19:15:32] BitMEX_Sam : it's nice, everything in the states is getting cheaper as a result
[2014-12-18 19:15:36] BitMEX_Sam : good for most of us.
[2014-12-18 20:08:57] dreadpiratedickstein : yep. Not good for Iran and Mother Russia
[2014-12-18 22:52:05] kasman5 : Why's there no february quant contract?
[2014-12-18 23:20:51] BitMEX_Arthur : febuary will list
[2014-12-18 23:20:52] BitMEX_Arthur : there will be on 26 dec
[2014-12-18 23:21:17] kasman5 : ok i just saw there's march. is that a quaterly.
[2014-12-18 23:21:46] BitMEX_Arthur : yeah
[2014-12-18 23:55:31] BitMEX_Arthur : XBU, Dec, Mar, Jan
[2014-12-18 23:55:43] BitMEX_Arthur : next friday we will have out to Sep
[2014-12-18 23:55:46] BitMEX_Arthur : on XBU
[2014-12-18 23:58:36] kasman5 : thats cool. volume seems to be rising on here
[2014-12-18 23:59:18] BitMEX_Arthur : yes we are please how things are progressing tell ur friends :)
[2014-12-19 00:01:07] kasman5 : will do. someone shorted 90XBT @ 313 earlier today, that guys gonna be rolling in it before long
[2014-12-19 00:03:26] kasman5 : on the XBTZ14
[2014-12-19 00:07:02] BitMEX_Arthur : :)
[2014-12-19 00:57:05] joequant : fyi. I'm willing to buy XBT @ 340 in volume. Thats +25 over OKCoin and +15 over UBH and +30 over spot.
[2014-12-19 00:57:58] joequant : I want to free up some margin.
[2014-12-19 01:02:11] BitMEX_Arthur : the easiest way to get more margin is to deposit more Bitcoin, :)
[2014-12-19 01:55:36] dreadpiratedickstein : kasman, I bought 900....was the me? lol
[2014-12-19 01:55:38] dreadpiratedickstein : i don't even know
[2014-12-19 03:30:00] joequant : ping
[2014-12-19 03:30:10] BitMEX_Arthur : Hi
[2014-12-19 03:30:25] joequant : In fact I have a massive amount of XBT in reserve.
[2014-12-19 03:30:35] joequant : I don't want to get short squeezed
[2014-12-19 03:30:51] joequant : And if the market goes up, I want to put in long positions
[2014-12-19 03:31:04] joequant : And if it goes down, I want to do some whale killing.
[2014-12-19 03:31:24] joequant : At 350, I'm willing to hold the position until march if necessary.
[2014-12-19 03:31:51] joequant : At <340, I might be willing to offload my short position.
[2014-12-19 03:32:13] joequant : Just to let people know :-)
[2014-12-19 03:32:36] joequant : At 340, I might consider taking profits now.
[2014-12-19 07:17:15] BitMEX_Sam : Morning, traders
[2014-12-19 07:22:31] atodorov07 : Good morning, have a nice day
[2014-12-19 07:25:12] atodorov07 : looks like the market is waking up too
[2014-12-19 07:32:48] BitMEX_Arthur : hello
[2014-12-19 08:23:38] rhk : .
[2014-12-19 08:47:55] floopfloop : Time for a $250 btc?
[2014-12-19 08:52:10] BitMEX_Arthur : this weekend
[2014-12-19 08:52:14] BitMEX_Arthur : when liquidity is thin
[2014-12-19 08:55:02] floopfloop : That would be nice
[2014-12-19 08:55:36] floopfloop : You think xmas will affect it?
[2014-12-19 08:55:47] floopfloop : it is mostly an American holiday is it not?
[2014-12-19 08:55:56] BitMEX_Arthur : if i wanted to drive the price down i would do it when the liquidity is thing
[2014-12-19 08:56:05] BitMEX_Arthur : u do it when china is asleep
[2014-12-19 08:56:49] floopfloop : true, i guess I am just looking at buying strength......it doesn't look that strong right now
[2014-12-19 08:57:01] floopfloop : and I can imagine people arent spending on btc with the holidays
[2014-12-19 09:12:44] joequant : Everyone everywhere goes on holiday in the winter
[2014-12-19 09:13:38] BitMEX_Arthur : just seasonal human nature
[2014-12-19 09:15:19] floopfloop : BitMEX_Arthur: http://www.dailysteals.com/rush/waitlist
[2014-12-19 09:15:28] floopfloop : BitMEX_Sam: http://www.dailysteals.com/rush/waitlist
[2014-12-19 11:18:48] dreadpiratedickstein : question for the team
[2014-12-19 11:19:22] dreadpiratedickstein : so if I have sold 700 of XBTZ14 (yes I am telegraphing my hand)
[2014-12-19 11:19:37] dreadpiratedickstein : and they trade at 280....how much BTC does I make?
[2014-12-19 11:20:10] dreadpiratedickstein : if my entry point is 318
[2014-12-19 11:23:04] BitMEX_Arthur : dreadpiratedickstein: (318 - 280) * 0.00001 XBT * 700
[2014-12-19 11:23:32] BitMEX_Arthur : sorry (280 - 318) * 0.00001 XBT * -700
[2014-12-19 11:23:44] BitMEX_Arthur : 0.266 xbt
[2014-12-19 11:24:03] dreadpiratedickstein : da fuck
[2014-12-19 11:24:18] dreadpiratedickstein : so it looks like the leverage is in XBU
[2014-12-19 11:24:30] dreadpiratedickstein : fair to say?
[2014-12-19 11:27:05] dreadpiratedickstein : ?
[2014-12-19 11:28:12] BitMEX_Arthur : how so the contract size is vastly differnt
[2014-12-19 11:28:27] BitMEX_Arthur : 1 contract of XBT chain is worth less than 1 contract of XBU chain in Bitcoin or USD terms
[2014-12-19 11:28:48] dreadpiratedickstein : yes, what is the difference in the contract size?
[2014-12-19 11:29:06] BitMEX_Arthur : 1 XBU contract is always worth $100 of Bitcoin
[2014-12-19 11:29:28] dreadpiratedickstein : compared to xbt being worth one?
[2014-12-19 11:29:31] dreadpiratedickstein : one dollar?
[2014-12-19 11:29:34] BitMEX_Arthur : 1 XBT contract is worth $1 at a price of 319
[2014-12-19 11:29:38] dreadpiratedickstein : got it
[2014-12-19 11:43:12] BitMEX_Wally : 316.23 to be precise :)
[2014-12-19 11:45:24] BitMEX_Wally : dreadpiratedickstein: The XBT contracts are best for going long, the XBU contracts are best for going short
[2014-12-19 11:54:08] BitMEX_Sam : dreadpiratedickstein: See also your positions list which shows your current unrealised PNL
[2014-12-19 11:54:14] BitMEX_Sam : as well as the calculator on the order controls
[2014-12-19 12:40:29] goat : Just as an fyi, i think you guys have a security issue as of this morning. I am always logged out after a long period of inactivity, this morning was able to open my laptop and refresh the page right to my trading screen.
[2014-12-19 12:40:47] goat : Every single other time it brought me to the log in screen and asked me to log back in.
[2014-12-19 12:42:08] BitMEX_Sam : goat: Did your laptop sleep or was it still on?
[2014-12-19 12:42:49] BitMEX_Sam : The app will let you stay logged in for up to 24 hours, but if it detects you don't have any tabs open anymore, it logs you out in a very short amount of time
[2014-12-19 12:43:12] goat : I know, i have noticed that
[2014-12-19 12:43:12] goat : BitMEX_Sam: Sleep, I always put it to sleep/close it
[2014-12-19 12:43:31] goat : If I head out for coffee or something and my screen saver comes on i am logged out automatically.
[2014-12-19 12:43:47] BitMEX_Sam : Hmm that shouldn't be, actually, unless the entire laptop goes to sleep
[2014-12-19 12:43:56] goat : it does
[2014-12-19 12:44:05] goat : and then i come back and the "connecting" screen comes up
[2014-12-19 12:44:05] BitMEX_Sam : If your screen saver is on, the tab should still be detected as open
[2014-12-19 12:44:14] BitMEX_Sam : unless your laptop is disconnecting wifi
[2014-12-19 12:44:23] goat : i believe it is because i have to refresh wisdowm
[2014-12-19 12:44:28] BitMEX_Sam : could be
[2014-12-19 12:44:29] goat : to show the trades from when i was gone
[2014-12-19 12:44:30] BitMEX_Sam : windows or mac?
[2014-12-19 12:44:32] goat : os x
[2014-12-19 12:44:36] BitMEX_Sam : ok
[2014-12-19 12:44:45] goat : anyway, its not a big deal at all just wanted to give you a fyi about this morning
[2014-12-19 12:44:48] BitMEX_Sam : and by screensaver, do you mean an actual screensaver or sleep mode / black screen
[2014-12-19 12:45:00] goat : i woke up, opened my laptop and the "connecting to bitmex" screen came up as it usually does
[2014-12-19 12:45:08] goat : usually it sends me back to the log in screen
[2014-12-19 12:45:15] goat : today it brought me to my trading interface
[2014-12-19 12:45:32] goat : and it is an actual screensaver then sleep mode/black screen
[2014-12-19 12:45:36] BitMEX_Sam : ok.
[2014-12-19 12:45:42] goat : screen saver after 5-10 mins, black screen after 15
[2014-12-19 12:45:58] BitMEX_Sam : Okay that explains it, I believe it usually goes into sleep mode at that point, after which wifi would be turned off
[2014-12-19 12:46:00] goat : it could just be a one time thing, i will let you guys know if ti happens again
[2014-12-19 12:46:05] BitMEX_Sam : I'll try to replicate it -
[2014-12-19 12:46:09] BitMEX_Sam : thanks for the heads up
[2014-12-19 12:46:09] goat : i will to
[2014-12-19 12:46:15] goat : yeah its not a big deal at all
[2014-12-19 12:46:24] goat : but figured i would tell you before someone claims they lost money because of it
[2014-12-19 12:46:28] BitMEX_Sam : You're still logged out after 24hrs no matter what,
[2014-12-19 12:46:34] BitMEX_Sam : and your session is locked to your IP address
[2014-12-19 12:46:44] goat : ok cool
[2014-12-19 12:46:54] BitMEX_Sam : it's not that big of a deal to have the strict auto-logout, but it is nice to have just in case.
[2014-12-19 12:46:57] BitMEX_Sam : Thanks again
[2014-12-19 12:47:07] goat : yeah i am just used to strict auto log out
[2014-12-19 12:47:39] goat : as i said, i dont see this being a huge problem at all beacuse no one else uses my computer
[2014-12-19 12:47:44] goat : but just figured i would let you know
[2014-12-19 12:48:04] BitMEX_Sam : Yep :) thanks
[2014-12-20 00:38:41] dreadpiratedickstein : GIMME DEM XBUZ14s!
[2014-12-20 00:39:37] BitMEX_Arthur : u need some more size?
[2014-12-20 00:39:47] dreadpiratedickstein : couldn't hurt :)
[2014-12-20 00:41:57] dreadpiratedickstein : buy gimme I mean...take from me what I don't have ;)
[2014-12-20 00:43:45] dreadpiratedickstein : and ten short should be enough to get my feet wet
[2014-12-20 00:44:28] BitMEX_Arthur : sec
[2014-12-20 00:45:26] BitMEX_Arthur : smack away
[2014-12-20 00:47:22] dreadpiratedickstein : let's see the profits on this short before I start moving capital in
[2014-12-20 01:01:06] BitMEX_Arthur : :)
[2014-12-20 01:28:17] floopfloop : BitMEX_Arthur: are you able to process transactions manually?
[2014-12-20 01:39:27] BitMEX_Arthur : all transactions are manually processed
[2014-12-20 01:39:35] BitMEX_Arthur : do you mean something else @floopfloop
[2014-12-20 01:39:35] floopfloop : oh
[2014-12-20 01:40:01] floopfloop : BitMEX_Arthur: yeah I meant if I withdraw are you able to release the transaction right away if needed
[2014-12-20 01:40:26] dreadpiratedickstein : I just noticed...these contracts are in contango aren't they?
[2014-12-20 01:40:32] BitMEX_Arthur : dreadpiratedickstein: yes
[2014-12-20 01:40:45] BitMEX_Arthur : floopfloop: we process at 12:00 UTC
[2014-12-20 01:40:51] dreadpiratedickstein : ....fabulous prizes for the bears :)
[2014-12-20 01:42:53] floopfloop : ?
[2014-12-20 01:43:35] BitMEX_Arthur : floopfloop: we are going to be moving to more processing times daily, but for now we process at 12:00 UTC
[2014-12-20 01:43:48] floopfloop : The ? was for pirate
[2014-12-20 01:44:06] floopfloop : I was more or less wondering if you are able to do it right away
[2014-12-20 01:44:11] floopfloop : but it doesnt sound like it
[2014-12-20 01:48:39] floopfloop : why cant i see my full balance?
[2014-12-20 01:49:18] BitMEX_Arthur : floopfloop: what do you mean what widget are you referring to
[2014-12-20 01:49:19] floopfloop : I have to convert it to satoshi
[2014-12-20 01:49:35] floopfloop : i figured it out but jsut letting you know
[2014-12-20 01:49:50] BitMEX_Arthur : oh u mean there aren't enough decimal places if you use full Bitcoins?
[2014-12-20 01:49:55] floopfloop : yeah
[2014-12-20 02:07:10] gaoMex : BitMEX_Arthur: I like to suggest a feature to cancel a BTC withdrawal. :)
[2014-12-20 02:07:44] BitMEX_Arthur : gaoMex: sure thing we will work on that
[2014-12-20 02:09:40] gaoMex : For now, would it be possible to cancel it at your end?
[2014-12-20 02:11:04] BitMEX_Arthur : gaoMex: let me check, figure something out for you
[2014-12-20 02:27:44] floopfloop : i just canceled my withdraw and it worked
[2014-12-20 02:30:21] gaoMex : Probably because the transactStatus is not confirmed yet.
[2014-12-20 02:41:13] BitMEX_Arthur : gaoMex: please email support@bitmex.com with your request to cancel your withdrawal
[2014-12-20 02:41:15] BitMEX_Arthur : and we will process
[2014-12-20 02:42:13] gaoMex : BitMEX_Arthur: OK. Thank you.
[2014-12-20 02:46:32] BitMEX_Wally : gaoMex: That's been canceled
[2014-12-20 02:46:58] gaoMex : BitMEX_Wally: Yes, but balance not credited. Lol.
[2014-12-20 02:47:16] BitMEX_Wally : Hmmm, maybe try refreshing the page?
[2014-12-20 02:47:42] gaoMex : BitMEX_Wally: Refreshed. :(
[2014-12-20 02:49:01] BitMEX_Wally : Ahh, how about now?
[2014-12-20 02:49:28] gaoMex : BitMEX_Wally: Yes, I see my balance. Thank you!
[2014-12-20 02:50:00] BitMEX_Wally : Cool, we have lots of checks and balances on withdrawals, better safe than sorry. We'll working to streamline them.
[2014-12-20 02:51:59] gaoMex : BitMEX_Wally: Agree. We have seen many hacks into hot wallets from many exchanges. The Bitcoin community should already have been smarter now. :)
[2014-12-20 02:58:11] gaoMex : Have we seen the bottom? Looks like there is a rally going on now.
[2014-12-20 02:58:36] BitMEX_Arthur : if $300 is going to get tested imo will be when china is asleep
[2014-12-20 02:58:43] BitMEX_Arthur : easier to take the price down when the liquidity is thinner
[2014-12-20 03:03:30] gaoMex : I'm not a TA fan. The analysis from https://www.cryptocoinsnews.com/bitcoin-panic-selling-today/ seems to have predicted the timing and price nicely though. But maybe it is just a coincidence.
[2014-12-20 04:39:46] gaoMex : The market is going crazy now. Lol
[2014-12-20 13:59:41] dreadpiratedickstein : and of course it's toppin at 330...thanks to everbody's favorite friend
[2014-12-20 13:59:42] dreadpiratedickstein : TA
[2014-12-20 14:10:28] BitMEX_Sam : Maybe it's topping... maybe not
[2014-12-20 14:16:35] dreadpiratedickstein : well it's def topping
[2014-12-20 14:16:42] dreadpiratedickstein : the question is does it break the candle or not
[2014-12-20 16:20:51] dreadpiratedickstein : and yep, looks like it topped
[2014-12-20 16:22:56] BitMEX_Sam : Woof. Yeah, looks like it did
[2014-12-20 16:23:06] BitMEX_Sam : Hit that big red button
[2014-12-20 16:29:32] dreadpiratedickstein : alrady have :)
[2014-12-21 15:09:01] dreadpiratedickstein : double tit
[2014-12-21 15:14:24] BitMEX_Arthur : dreadpiratedickstein: take a look at XBTH15 if u want to go short
[2014-12-21 15:14:29] BitMEX_Arthur : trading very rich to spot
[2014-12-21 16:29:19] dreadpiratedickstein : I'm looking at all of em
[2014-12-21 16:29:21] dreadpiratedickstein : oh btw
[2014-12-21 16:29:28] dreadpiratedickstein : what happens on expiry? automatic roll over?
[2014-12-21 17:14:31] BitMEX_Sam : dreadpiratedickstein: At this time, no, we are working on an option for that though
[2014-12-21 17:14:54] BitMEX_Sam : On expiry you are credited the contract value as calculated from the 2hr TWAP at Bitfinex, see the contract specifications for more on that
[2014-12-21 17:15:01] BitMEX_Sam : at that point you can decide whether or not to go back in
[2014-12-21 20:49:32] dreadpiratedickstein : k thx
[2014-12-22 01:09:28] joequant : morning.
[2014-12-22 01:09:40] BitMEX_Arthur : heyo
[2014-12-22 01:11:13] joequant : I'm working on putting together a bot for bitmex that uses the quant library quantlib.
[2014-12-22 01:11:58] BitMEX_Arthur : sweet let us know if you need anything
[2014-12-22 01:12:15] joequant : It looks like I'll have some time to work on infrastructure. I can't do any active trading until the arb on XBTH15.
[2014-12-22 01:12:29] joequant : So I might as well work on infra.
[2014-12-22 01:12:50] joequant : I looked at my positions and it looks like I'll make a good profit
[2014-12-22 01:12:59] joequant : if I wait until March :-)
[2014-12-22 01:13:16] joequant : So right now the game is to just be patient.
[2014-12-22 01:14:42] joequant : The interesting thing
[2014-12-22 01:15:05] joequant : is that bitcoin seems to be the only major derviative in which intraday calculations matter.
[2014-12-22 01:22:33] BitMEX_Arthur : yeah because there is no closing tim
[2014-12-22 02:48:41] Patryn : I don't see anything about verification here?
[2014-12-22 02:48:58] Patryn : Love the "references" section btw.
[2014-12-22 02:54:47] BitMEX_Arthur : Patryn: what do u mean by verificatino
[2014-12-22 02:54:55] BitMEX_Arthur : like ID or KYC?
[2014-12-22 02:55:02] Patryn : Yeah
[2014-12-22 02:55:08] BitMEX_Arthur : none needed
[2014-12-22 02:55:35] BitMEX_Arthur : we have exchange position limits if you come up against one of those we may require more information
[2014-12-22 02:55:47] BitMEX_Arthur : but the limit is quite high so i wouldn't worry about it
[2014-12-22 02:55:56] Patryn : Interesting. How is a contract calculated? Doesn't seem to be $100?
[2014-12-22 02:56:05] BitMEX_Arthur : which one?
[2014-12-22 02:56:15] BitMEX_Arthur : there are two types, XBT which has a Bitcoin multiplier
[2014-12-22 02:56:21] Patryn : Are they different? It just asks "quantity" and price.
[2014-12-22 02:56:23] BitMEX_Arthur : XBU chain which is worth $100 of bitcoin
[2014-12-22 02:56:32] BitMEX_Arthur : quantity is the number of contracts
[2014-12-22 02:56:51] Patryn : I don't see it stating XBU or XBT
[2014-12-22 02:56:51] BitMEX_Arthur : so for example XBTZ14 1 contract is worth 0.0032 Bitcoin
[2014-12-22 02:56:59] Patryn : aha
[2014-12-22 02:57:00] Patryn : ah
[2014-12-22 02:57:21] Patryn : XBTH15, one contract $1.15?
[2014-12-22 02:57:41] Patryn : $1.
[2014-12-22 02:58:04] Patryn : Looks like gross value 0.0032 XBT for 1 contract of XBTH15
[2014-12-22 02:58:53] Patryn : Am I looking at this wrong? It seems like one contract is closer to one dollar in the XBT books?
[2014-12-22 02:59:05] BitMEX_Arthur : correct
[2014-12-22 02:59:20] BitMEX_Arthur : our other chain XBU each contract is worth $100 of Bitcoin at all times
[2014-12-22 02:59:44] BitMEX_Arthur : so the nominal amount of Bitcoin each contract is worth fluctuates but if you do the math it will always be worth $100 in USD terms
[2014-12-22 03:00:05] BitMEX_Arthur : if you are going long trade the XBT chain, if you are going short trade the XBU chain
[2014-12-22 03:00:22] BitMEX_Arthur : in a very general sense
[2014-12-22 03:03:10] Patryn : Ah. Gotcha. I guess that becomes more viable once your order books fill up a bit.
[2014-12-22 03:04:16] BitMEX_Arthur : right, the XBT series has proven more popular to date, but we have been live less than a month
[2014-12-22 03:05:54] BitMEX_Arthur : we also have an affiliate referral program, you have a link under the Account section, any traders who sign up using ur link, u get a % of the trading fees they pay for 6 months
[2014-12-22 03:06:06] Patryn : So if i were to short 1000 units in XBTH15, I am entering into a contract to sell 3.55 bitcoins for $1260? I find this a bit confusing.
[2014-12-22 03:06:55] BitMEX_Arthur : it's cash settled so basically u sell at $355 if the price when you buy back the contract or when it expires is below $355 you make a profit in Bitcoin
[2014-12-22 03:07:25] Patryn : Right, i'm wondering how much profit as the "quantity" contract doesn't seem to correlate to anything that I see.
[2014-12-22 03:07:54] BitMEX_Arthur : See the calculator button on the order controls
[2014-12-22 03:08:11] BitMEX_Arthur : put in the number of contracts the price and the % move and it will tell you the theoretical profit in Bitcoin
[2014-12-22 03:08:46] Patryn : Say I purchase 3.55 bitcoins at $320 on an exchange at spot right now, and then short 1000 units at $355 on XBTH15, am I pretty much guaranteed $35/coin in March unless you fold?.
[2014-12-22 03:09:00] Patryn : So roughly $100 profit after all fees?
[2014-12-22 03:09:09] BitMEX_Arthur : correct
[2014-12-22 03:11:13] Patryn : Sounds like another guide could be written for double futures + swap earnings.
[2014-12-22 03:11:51] Patryn : 30% here, 30% to hedge this on another futures exchange, rest in swaps... at least until the arb is gone.
[2014-12-22 03:13:02] BitMEX_Arthur : right
[2014-12-22 03:18:51] Patryn : Longest confirmations ever
[2014-12-22 03:19:03] Patryn : haha
[2014-12-22 03:21:40] void : swap?
[2014-12-22 03:21:51] void : a new function of bitmex?
[2014-12-22 03:22:22] BitMEX_Arthur : no swap as in the USD and BTC swaps on Bitfinex
[2014-12-22 03:35:14] BitMEX_Arthur : Patryn: we also have https://blog.bitmex.com with more in depth articles
[2014-12-22 03:36:15] Patryn : 25m and counting, no confirmations. Slow day.
[2014-12-22 03:36:26] BitMEX_Arthur : wow
[2014-12-22 03:38:03] void : I like xbu contract hope more depth will provide by mm.
[2014-12-22 03:39:15] BitMEX_Arthur : void: XBT has been more popular so far, but as we get more users the book should depen
[2014-12-22 04:21:34] joequant : About the XBT arb.
[2014-12-22 04:22:10] joequant : The one thing that you have to worry about is XBT moving suddenly and hitting a margin call.
[2014-12-22 04:22:51] joequant : If the price of bitcoin keeps moving in one direction this isn't bad
[2014-12-22 04:23:27] joequant : However, it XBT touchs a price, hits a margin call and bounces back, then you could lose money.
[2014-12-22 04:24:17] Patryn : Which, with 30% deposit, is $596
[2014-12-22 04:24:32] joequant : This isn't really a problem on bitmex since bitmex has real margin
[2014-12-22 04:24:41] joequant : But the Chinese exchanges have autocl
[2014-12-22 04:25:09] joequant : What has happened is that the Chinese exchanges hit a margin threshhold, they close positions and the market bounces back.
[2014-12-22 04:26:44] joequant : I've been blogging about bitcoin trading on http://bitquant.wordpress.com/
[2014-12-22 04:29:19] joequant : Right now, I'm writing some bots that do risk managment.
[2014-12-22 04:30:27] joequant : It's all open source so once I get them written (in about two weeks), you can get them from my github site.
[2014-12-22 04:30:50] Patryn : Those exchanges also only require 2-10% margin. If you manually increase that to the 30% required by Bitmex, you won't find any instances of the market moving quickly enough for that to happen.
[2014-12-22 04:31:04] Patryn : I feel that it's more of a risk of high leverage exchanges, not a chinese exchange risk management issue.
[2014-12-22 04:31:27] joequant : Yup
[2014-12-22 04:32:05] joequant : But it's an issue if you try to arb bitmex against another exchange.
[2014-12-22 04:32:26] Patryn : Unless I manually add margin on the other exchange as well, no? Outside of a rare clawback situation.
[2014-12-22 04:32:43] joequant : You can't add margin
[2014-12-22 04:32:46] Patryn : It would need to move by $260 quickly for me to auto liquidate with 30% margin.
[2014-12-22 04:32:51] Patryn : You can add margin manually on OKCoin.
[2014-12-22 04:32:56] Patryn : In order to match the 30% default on BitMex.
[2014-12-22 04:33:04] joequant : Oh yes, you can do that.
[2014-12-22 04:33:43] joequant : You can also do that on bitvc
[2014-12-22 04:33:50] joequant : You can't on 796.
[2014-12-22 04:33:54] Patryn : Could do an arb between two futures exchanges with only 30% down.
[2014-12-22 04:34:06] Patryn : stick the rest on BFX swaps.
[2014-12-22 04:34:21] Patryn : As a profit squeezing comparison to simple arb between two exchanges.
[2014-12-22 04:34:45] Patryn : There's roughly $24 difference between the March futures here and on okcoin
[2014-12-22 04:34:53] joequant : One issue though is that it's unlikely to go to $260 in one day
[2014-12-22 04:35:01] joequant : However if you wait until march
[2014-12-22 04:35:12] Patryn : I guess if I never check during that time period, it's an issue
[2014-12-22 04:35:20] Patryn : As a trader, that's unlikely to happen
[2014-12-22 04:35:42] joequant : you could have a situation in which the price goes down to 260 whereas the bitfinex price stays constant.
[2014-12-22 04:36:01] joequant : In that case you want to remove your positions before you burn through margin.
[2014-12-22 04:36:07] Patryn : Goes down by $260, not to $60
[2014-12-22 04:36:11] Patryn : The price would have to be $60.
[2014-12-22 04:36:17] Patryn : With 30% margin
[2014-12-22 04:36:38] Patryn : Though my math may be missing something
[2014-12-22 04:37:16] joequant : The issue is that even if you don't get margin called, if the price moves down, you end up losing a lot of bitcoin.
[2014-12-22 04:37:28] Patryn : It's hedged in the other direction on the other exchange.
[2014-12-22 04:37:42] Patryn : If I lose on one from the price moving down, i'm winning on the other.
[2014-12-22 04:38:01] Patryn : I earn from the price gap between the two exchanges, not from price movement. Right now, that gap exists because bitmex is a new exchange.
[2014-12-22 04:38:16] Patryn : super thin order book for march.
[2014-12-22 04:38:25] joequant : In theory, but if the exchanges move in radically different ways, then you end up with a scary looking P/L.
[2014-12-22 04:38:38] joequant : Which is fine if you expect it
[2014-12-22 04:38:43] joequant : and don't panic.
[2014-12-22 04:38:47] Patryn : I just cleared $15 of the order book with under 20 coins. I'm thinking it's a temporary situation.
[2014-12-22 04:39:09] Patryn : trying to take advantage of it while I can. Took an hour to get my confirmation, glad nobody took the arb opp.
[2014-12-22 04:39:18] joequant : Personally I think it's temporary but the order book as been this way for a few days.
[2014-12-22 04:39:25] joequant : I don't see it lasting to march
[2014-12-22 04:39:41] joequant : But I was hoping that it would resolve in a few hours.
[2014-12-22 04:39:54] joequant : Right now, I'm seeing this lasting for a few days.
[2014-12-22 04:40:08] Patryn : The fees are extremely high for a new exchange with no MM. I figure they'll change it, people will join, arb will close.
[2014-12-22 04:40:21] joequant : Yes.
[2014-12-22 04:40:36] joequant : I figure the same too.
[2014-12-22 04:42:24] joequant : However, right now I have all my tradable bitcoin giving me comfortable margins, so I can't do any other trading. Which gives me some time to write bots.
[2014-12-22 06:07:38] gaoMex : BitMEX_Arthur: Need liquidity
[2014-12-22 06:08:49] gaoMex : XBTZ14
[2014-12-22 06:09:24] BitMEX_Arthur : gaoMex: hi
[2014-12-22 06:09:25] BitMEX_Arthur : sec
[2014-12-22 06:09:28] BitMEX_Arthur : how much u want to trade
[2014-12-22 06:09:49] gaoMex : 10 XBT buy
[2014-12-22 06:09:57] gaoMex : haha
[2014-12-22 06:10:02] joequant : doh
[2014-12-22 06:10:10] joequant : got there before me :-)
[2014-12-22 06:10:12] gaoMex : why ask side gone?
[2014-12-22 06:10:21] BitMEX_Arthur : joequant: have at him joe
[2014-12-22 06:11:57] joequant : price moved
[2014-12-22 06:12:02] joequant : and there was an easy arb
[2014-12-22 06:15:49] BitMEX_Arthur : gaoMex: check out XBTZ14 now some more liquidity for you
[2014-12-22 06:18:56] gaoMex : Thanks. :)
[2014-12-22 06:19:23] BitMEX_Arthur : ask and ye shall receive
[2014-12-22 06:19:36] gaoMex : joequant: Are you a market maker?
[2014-12-22 06:19:59] BitMEX_Arthur : why the price spike any news?
[2014-12-22 06:20:57] gaoMex : See Cryptocoinsnews
[2014-12-22 06:21:11] gaoMex : I posted in this trollbox a couple of days ago.
[2014-12-22 06:22:34] BitMEX_Arthur : nothing earth shattering on the front page
[2014-12-22 06:22:39] BitMEX_Arthur : this looks like a classic short squeeze
[2014-12-22 06:22:45] BitMEX_Arthur : lots of short swaps on bfx
[2014-12-22 06:22:52] BitMEX_Arthur : they are all rushing to cover
[2014-12-22 06:27:25] joequant : hehehehhe
[2014-12-22 06:27:43] joequant : I feel good about sitting on bitcoin
[2014-12-22 06:27:53] joequant : All this means that once people cover everything
[2014-12-22 06:27:57] joequant : the price is going to go down.
[2014-12-22 06:30:58] BitMEX_Arthur : meh maybe the short swaps at a high
[2014-12-22 06:31:04] BitMEX_Arthur : i think there is more pain for the shorts
[2014-12-22 06:31:20] BitMEX_Arthur : bfxdata.com
[2014-12-22 06:31:25] BitMEX_Arthur : one of my go tos
[2014-12-22 11:39:10] BitMEX_Wally : Patryn: There is a market maker during Europe and US trading hours
[2014-12-22 13:19:50] Patryn : I believe it's currently both EU and US trading hours. Only $100 worth of asks on the March xbt order books.
[2014-12-22 13:20:30] Patryn : Sounds like you need more market makers. Your order books are incredibly thin.
[2014-12-22 13:20:54] atodorov07 : +
[2014-12-22 13:49:27] BitMEX_Wally : Patryn: There are 44137 contracts of XBTZ14 on offer at 339.85, that's 150 XBT of risk
[2014-12-22 13:50:00] BitMEX_Wally : 13434 at 350.80 of XBTF15 which is 50 XBT of risk
[2014-12-22 13:50:48] BitMEX_Wally : 13700 at 364.96 of XBTH15 (the March future) which is 50 XBT of risk
[2014-12-22 13:57:28] jon : where are the USD contract pls?
[2014-12-22 13:57:48] BitMEX_Arthur : what you do you mean by USD
[2014-12-22 13:57:54] BitMEX_Arthur : USD settled or USD multiplier?
[2014-12-22 13:58:32] jon : what you used to call USDX14 is XBU contract but quoted in $ not satoshi?
[2014-12-22 14:00:54] BitMEX_Arthur : next to Dashboard there is a drop down select the second option that starts with "XBU: ..."
[2014-12-22 14:01:07] BitMEX_Arthur : that is the contract worth $100 of Bitcoin at all times
[2014-12-22 14:04:42] jon : yeah I got that
[2014-12-22 14:06:29] BitMEX_Wally : jon: You are correct, the XBU series is the same as the old USD series but quoted with a reciprocal price, and long/short swapped aroud
[2014-12-22 14:07:08] jon : yeah was my guess
[2014-12-22 14:07:18] jon : what you mean by long/short swapped around pls
[2014-12-22 14:07:49] BitMEX_Wally : Long XBTZ14 means you profit if the price of Bitcoin goes up
[2014-12-22 14:08:09] BitMEX_Wally : Long USDZ14 would have meant you were short XBT, so would profit if the price of Bitcoin goes down
[2014-12-22 14:08:22] Patryn : Wally, those contracts obviously were not on xbth15 when I complained. There were closer to 250 contracts worth of asks open, or less than one bitcoin worth of risk.
[2014-12-22 14:08:54] jon : tks wally