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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[2016-08-22 18:09:20] rapidtrades : ^^^ bnktothefuture using complicated legal structure like bitfinex
[2016-08-22 18:11:46] rapidtrades : 90% of 'pitches' here are bitcoin related https://bnktothefuture.com/search/pitches
[2016-08-22 18:13:37] BTCDJS : rapidtrades: Simon Dixon is pals with Max keiser
[2016-08-22 18:14:01] BTCDJS : max keiser created MAXCOIN and now startcoin
[2016-08-22 18:14:22] BTCDJS : pump and dump coins
[2016-08-22 18:15:49] rapidtrades : great so bitfinex plans to issue 'shares' on some doggy offshore platform used exclusively by other shady bitcoin businesses
[2016-08-22 18:17:01] justinlooking : i've turned a small xmr short into a nightmare position :-/
[2016-08-22 18:18:30] rapidtrades : wtf is xmr
[2016-08-22 18:18:50] rapidtrades : ah monero
[2016-08-22 18:19:17] rapidtrades : $ 3.27 (27.21 %) yep that's gotta sting
[2016-08-22 18:19:26] BTCDJS : rapidtrades: to be fair. Bnktothefuture have funded many Bitcoin related projects that are doing ok
[2016-08-22 18:19:56] rapidtrades : define 'doing ok'
[2016-08-22 18:20:25] BTCDJS : Not bust yet and showing promise
[2016-08-22 18:21:04] rapidtrades : :)
[2016-08-22 18:21:38] BTCDJS : It's that Max keiser fellow you gotta watch out for
[2016-08-22 18:21:59] rapidtrades : yeah he's a weasel
[2016-08-22 18:22:16] rapidtrades : yet he got 1mil+ in 'investments'
[2016-08-22 18:22:20] rapidtrades : ppl are dumb
[2016-08-22 18:23:35] BTCDJS : I know someone who's dealt with him and said he's not trustworthy and weird. Lives in his own world. He slates banksters but he's just as psychopathic as they are
[2016-08-22 18:23:38] rapidtrades : there's a lot of ppl in this space who got lucky....being right place right time
[2016-08-22 18:24:03] rapidtrades : they're slowly gonna lose everything
[2016-08-22 18:24:35] BTCDJS : Yeah mistaking luck for skill
[2016-08-22 18:24:50] rapidtrades : exactly
[2016-08-22 18:25:07] rapidtrades : they should've quit while they were ahead
[2016-08-22 18:25:14] BTCDJS : Fuck em
[2016-08-22 18:32:55] BTCDJS : 1234 huh?
[2016-08-22 18:35:06] rapidtrades : huh...smone sending a message ?
[2016-08-22 18:41:36] I-am-Legend : can someone explain to me how BFXcoin contracts work
[2016-08-22 18:42:44] I-am-Legend : i dont get it at all
[2016-08-22 18:42:52] I-am-Legend : would be nice if some could help
[2016-08-22 18:44:43] rapidtrades : I-am-Legend: that's very illiquid,,,,over 2% spread
[2016-08-22 18:45:13] I-am-Legend : i dont get how its settled & re-balanced
[2016-08-22 18:45:15] BTCDJS : I-am-Legend: I would help if I knew what bfxcoin was. Because you're a legend
[2016-08-22 18:45:33] I-am-Legend : haha cheers where is the mods
[2016-08-22 18:45:56] justinlooking : I-am-Legend: it's a future, so settlement is not until expiry
[2016-08-22 18:46:12] justinlooking : (in 4 days)
[2016-08-22 18:47:54] BTCDJS : Wait. Is this bitfinex's dodgy coin that started at $1?
[2016-08-22 18:48:51] rapidtrades : it didn't start at $1, that's just what they say it's the face value
[2016-08-22 18:49:12] rapidtrades : it never traded at 1
[2016-08-22 18:49:28] I-am-Legend : i dont get it
[2016-08-22 18:49:38] I-am-Legend : i cant get leverage on BFXcoin wont allow me
[2016-08-22 18:49:42] I-am-Legend : stock at cross
[2016-08-22 18:49:46] rapidtrades : then don't touch it
[2016-08-22 18:49:52] I-am-Legend : cant go to 1.5X
[2016-08-22 18:50:11] rapidtrades : leverage is only 2.5x on that instrument
[2016-08-22 18:50:17] justinlooking : are u working orders?
[2016-08-22 18:50:58] BitMEX_Sam : You could go to 2.5x, that requires less margin
[2016-08-22 18:51:25] BitMEX_Sam : Going to lower leverage levels requires more margin - it isolated an amount of margin equal to `(1/leverage) * positionValue`
[2016-08-22 19:00:44] I-am-Legend : ohh worked now thanks
[2016-08-22 19:00:50] I-am-Legend : was wondering wat was wrong
[2016-08-22 19:02:01] I-am-Legend : i want 50 contracts at 0.03849 someone fill me please im top of the book
[2016-08-22 19:03:43] I-am-Legend : dam so everyone supporting finex here. too scared to give me 50 contracts
[2016-08-22 19:03:47] I-am-Legend : shocking
[2016-08-22 19:05:10] justinlooking : supporting finex is wrong
[2016-08-22 19:05:17] I-am-Legend : not supporting it lol
[2016-08-22 19:05:26] I-am-Legend : these contracts nothing to do with finex coin
[2016-08-22 19:05:36] I-am-Legend : i want to profit as its mooning
[2016-08-22 19:05:56] I-am-Legend : but peopel to scared to give me 50 contracts at top of the book
[2016-08-22 19:13:19] sleger : I-am-Legend: mark price is 0.4 you're buying 50bps below, dont be surprised and hit the ask
[2016-08-22 19:13:54] I-am-Legend : its not 0.4 its 0.398
[2016-08-22 19:14:07] I-am-Legend : im a noob & this is the top its going to dump a bit here check the chart
[2016-08-22 19:15:02] sleger : prices move, it was 0.3998 when i typed it. If its going down then buy later
[2016-08-22 19:17:08] I-am-Legend : now only 1 cent under mark price.. got have a tiny advantage to get out
[2016-08-22 19:18:36] I-am-Legend : who is that trying to out bid me i was after top of book first
[2016-08-22 19:18:55] I-am-Legend : moved up 50 contracts to 3815 .. fill me please
[2016-08-22 19:25:44] nip : I-am-Legend: just buy at mark price
[2016-08-22 19:25:55] I-am-Legend : how
[2016-08-22 19:26:27] nip : buy at .3940
[2016-08-22 19:26:40] I-am-Legend : no cause when u want to close u cant close at mark price always take a hit
[2016-08-22 19:27:00] nip : and why would that be the case?
[2016-08-22 19:27:16] nip : .3940 is the mark price you know
[2016-08-22 19:27:23] I-am-Legend : cause of the book nobody will buy from me mark price when closing
[2016-08-22 19:27:35] nip : .3940 is the mark
[2016-08-22 19:27:41] I-am-Legend : yeah i got it nip.. so if i buy mark i dont get to close mark
[2016-08-22 19:27:42] nip : buy there if you want...
[2016-08-22 19:27:52] REKT : Liquidated long on `ETC7D`: Sell 244 @ 0.002856
[2016-08-22 19:27:59] I-am-Legend : hw about 3850 nip
[2016-08-22 19:28:13] nip : you get to close mark
[2016-08-22 19:28:19] nip : just ask me again when you want to close
[2016-08-22 19:28:38] I-am-Legend : so u will give me mark price to close when i want out
[2016-08-22 19:28:43] nip : yeah
[2016-08-22 19:28:47] I-am-Legend : that would be amazing why
[2016-08-22 19:28:54] nip : it expires at mark price?
[2016-08-22 19:28:56] I-am-Legend : u market maker
[2016-08-22 19:29:00] nip : why would i do a different price
[2016-08-22 19:29:01] nip : yes i am
[2016-08-22 19:29:04] sleger : I-am-Legend: just wait 4 days
[2016-08-22 19:29:18] sleger : you can close at mark price
[2016-08-22 19:29:20] I-am-Legend : why would i wait 4 days sleg
[2016-08-22 19:29:23] I-am-Legend : ahh ok
[2016-08-22 19:29:33] I-am-Legend : nip what if ur not online when i want to close
[2016-08-22 19:29:37] I-am-Legend : what hours u here
[2016-08-22 19:29:50] nip : all hours
[2016-08-22 19:29:55] I-am-Legend : sick u a bot lol
[2016-08-22 19:30:18] I-am-Legend : ok thank u
[2016-08-22 19:35:59] nip : better buy now before its too late
[2016-08-22 19:36:08] nip : price is skyrocketing
[2016-08-22 19:36:37] REKT : Liquidated long on `ETC7D`: Sell 662 @ 0.002851
[2016-08-22 19:43:28] messiaen8844 : good time to add XMR here ;D
[2016-08-22 19:44:53] justinlooking : XMRekt
[2016-08-22 19:52:28] Tetsuo : http://themerkle.com/monero-becomes-the-darling-cryptocurrency-of-the-darknet/
[2016-08-22 19:52:37] REKT : Liquidated long on `ETC7D`: Sell 2 @ 0.002845 :punch: :whale:
[2016-08-22 20:39:16] aethlios : any plans to add xmr
[2016-08-22 20:42:32] Rado : XMR a good short here imo
[2016-08-22 20:46:22] Rado : was the high on BFX 0.00076 BTC?
[2016-08-22 21:01:04] aethlios : now bfx will be echanged for equity?? let's see....
[2016-08-22 21:16:25] Rado : wow XMR
[2016-08-22 21:16:30] Rado : did not expect that
[2016-08-22 21:17:11] yerb : will bitmex list XMR?
[2016-08-22 21:19:38] Rado : maybe
[2016-08-22 21:19:53] Rado : after today XMR might have good volume in coming months
[2016-08-22 21:20:14] Rado : it's always dangerous if they list it and then it's a flop and no one trades it
[2016-08-22 21:20:33] Rado : I guess they can be flexible and remove contracts after they expire if they did not preform
[2016-08-22 21:20:35] Tetsuo : like LTC, FCT, A50.....
[2016-08-22 21:20:45] Rado : Tetsuo: Agreed
[2016-08-22 21:20:55] Rado : I never traded A50 or LTC
[2016-08-22 21:21:11] Rado : FCT people trade I think
[2016-08-22 21:21:46] Tetsuo : Funding in here is too mad to keep positions open on altcoins
[2016-08-22 21:22:04] Rado : not if you are on the right side of the funding
[2016-08-22 21:22:10] Rado : then it's really good for you
[2016-08-22 21:36:07] REKT : Liquidated long on `ETC7D`: Sell 350 @ 0.002784
[2016-08-22 21:36:11] Tetsuo : i prefer to make money with the market goin up or down
[2016-08-22 21:36:58] Tetsuo : Holy shit monero! up 70%
[2016-08-22 21:39:14] Tetsuo : 80% now , lol
[2016-08-22 21:39:30] habibi : BitMEX_Sam: monero inc?
[2016-08-22 21:39:41] BitMEX_Sam : Soonish, we're working on it
[2016-08-22 21:43:12] habibi : BitMEX_Sam: matter of hours/days :)?
[2016-08-22 21:43:28] BitMEX_Sam : Hoping within a day but not certain.
[2016-08-22 21:43:45] habibi : ok, thanks for anserw
[2016-08-22 22:07:01] Rado : BitMEX_Sam: when is a 3rd exchange going to be added to Kaiko?
[2016-08-22 22:07:13] Rado : Bitstamp at 50% is too much
[2016-08-22 22:07:15] BitMEX_Sam : Rado: Soon, we are still evaluating who fits the bill
[2016-08-22 22:08:01] Rado : I know it's hard, but with 2 exchanges is really bad
[2016-08-22 22:08:20] Rado : specially when the price can move a lot on Bitstamp with just a few sell orders
[2016-08-22 22:08:30] Tetsuo : there´s no pint in trading at here if they don´t fix that crazy funding, i´d rather prefer less leverage, a week of sideways is kiillin u. @bitmex okcoin@ BTC/USD and polo@alts are they way to go for now
[2016-08-22 22:10:42] Tetsuo : XMR up 110% btw, lol
[2016-08-22 22:15:05] justinlooking : again XMRekt
[2016-08-22 22:33:36] REKT : Liquidated short on `FCTXBT`: Buy 2726 @ 0.004765
[2016-08-22 22:39:06] REKT : Liquidated short on `FCTXBT`: Buy 51 @ 0.004931
[2016-08-22 22:54:21] REKT : Liquidated short on `FCTXBT`: Buy 50 @ 0.005262
[2016-08-22 23:58:15] subjective : Tetsuo: agree, OKC for long term position is cheaper. Fees are too damn high
[2016-08-23 03:09:22] omicron : subjective: okc his too damn high fees?
[2016-08-23 03:26:51] omicron : or bitmex?
[2016-08-23 03:45:44] omicron : (this thing on?)
[2016-08-23 04:05:48] jose : they are sleeping i guess
[2016-08-23 04:18:04] BitMEX_Wally : I think he was referring to funding fees which are paid between long and short holders
[2016-08-23 04:21:40] omicron : BitMEX_Wally: oh yea, but isnt funding high only during volatility?
[2016-08-23 04:22:29] BitMEX_Wally : Yes in general
[2016-08-23 04:23:21] omicron : and isnt the funding based on bitfinex rates? i.e market rate?
[2016-08-23 04:24:49] BitMEX_Wally : Yes, it's based on the lending rates at the reference exchange, i.e. Bitfinex or Poloniex, plus a premium index based on the market here
[2016-08-23 04:25:31] omicron : ah ... so they are upset with the premium. yes i can see that. premium formula is disclosed though, right?
[2016-08-23 04:29:22] REKT : Liquidated short on `LTCXBT`: Buy 934 @ 0.00649
[2016-08-23 04:33:49] omicron : Im surprised why the chinese arent trading A50. Is this a translation issue
[2016-08-23 04:36:15] BitMEX_Wally : omicron: we haven't launched Chinese language support yet
[2016-08-23 05:27:07] omicron : BitMEX_Wally: Ya, I would trade A50 if it had more liquidity
[2016-08-23 05:27:58] omicron : ... and reduced fees would help
[2016-08-23 07:26:19] rapidtrades : good morning ya
[2016-08-23 07:48:41] zanza : any progress on CAL rapidtrades ?
[2016-08-23 08:18:21] zanza : ETF not approved
[2016-08-23 08:18:36] zanza : price crashing
[2016-08-23 08:20:30] Kalman : zanza: what ETF?
[2016-08-23 08:21:27] Tetsuo : ETF denied also new China ban as rumours say
[2016-08-23 08:21:40] Tetsuo : it´s lookin bad
[2016-08-23 08:22:05] Kalman : https://99bitcoins.com/bitcoinobituaries/
[2016-08-23 08:24:41] Tetsuo : it´s a all fun ; till it isn´t anymore! 80-120$ support will be tested
[2016-08-23 08:25:20] Kalman : Tetsuo: forgot you're the Bear in the house
[2016-08-23 08:33:06] zanza : lol Tetsuo
[2016-08-23 08:37:22] zanza : winklevoss ETF
[2016-08-23 09:01:18] REKT : Liquidated long on `XBTUSD`: Sell 1000 @ 578.97
[2016-08-23 09:01:18] REKT : Liquidated long on `XBTUSD`: Sell 7000 @ 578.85
[2016-08-23 09:04:42] REKT : Liquidated long on `XBTUSD`: Sell 550 @ 578.68
[2016-08-23 09:05:54] Tetsuo : if monero and Dash take over the dark maketsm then almost no real world usage is left for BTC
[2016-08-23 09:06:03] Tetsuo : *markets
[2016-08-23 09:11:31] Kalman : xmr's network is weak; infinite supply ...
[2016-08-23 09:12:23] Kalman : the future will show ;)
[2016-08-23 09:12:24] Tetsuo : infinite supply??
[2016-08-23 09:14:07] Kalman : Therefore, monero implements a "permanent block reward". The block reward will never drop below 0.3 XMR, making monero a disinflationary currency: the inflation will be roughly 1% in 2022 and go down forever, but the nominal inflation will stay at 0.3 XMR per minute.
[2016-08-23 09:14:36] Kalman : https://getmonero.org/knowledge-base/about
[2016-08-23 09:16:07] Kalman : there's always an incentive for the miners to keep network secure, but this incentive is violation users interest to use it as store of value
[2016-08-23 09:16:34] sleger : people use usd as a store of value and inflation is > 1% ...
[2016-08-23 09:17:06] Kalman : people that do not know. Do all people not know?
[2016-08-23 09:18:45] sleger : central banks from most countries use usd as a store of value, they know quite well the inflation is >1%
[2016-08-23 09:19:45] sleger : and you're certainly not taking into account the lost coins which are surely > 1% per year, your argument is quite wrong
[2016-08-23 09:20:40] Kalman : Are central banks serving the peoples interests?
[2016-08-23 09:22:10] sleger : now you're just changing your argument and arguing something completely irrelevant
[2016-08-23 09:22:32] Kalman : lost coins are a very welcome assumption to justify many things
[2016-08-23 09:22:45] sleger : many well educated investors that serve their own interests hold usd and are well aware of the inflation rate
[2016-08-23 09:24:32] Kalman : It seems helpful to agree on a terminology when discussing a topic; inflation == money supply; central banks are political institutions
[2016-08-23 09:24:42] Tetsuo : ETH market maker left the building?
[2016-08-23 09:25:04] Kalman : what one calls well educated is for another blunt stupid
[2016-08-23 09:26:32] Tetsuo : Kalman: so do you hold all of your money in magical internet money?
[2016-08-23 09:28:24] sleger : i was just saying this is wrong "but this incentive is violation users interest to use it as store of value"
[2016-08-23 09:28:47] Kalman : unfortunately government forces me to hold/safe fiat
[2016-08-23 09:35:15] Kalman : sleger: the explanation is: e.g. Yellen likes her job and to secure it she needs political support for contract renewal. so if she doesnt please the 'leaders' with what isin their view the right money supply shes out. this is in violation to peoples interest that are forced to safe in fiat (due to fact that small investors are priced out of many alternative investment/saving forms)
[2016-08-23 09:42:31] sleger : i was saying : inflation >1% does not imply instrument is not a store of value. Even gold has inflation...
[2016-08-23 09:49:37] REKT : Liquidated short on `LTCXBT`: Buy 13 @ 0.00660
[2016-08-23 09:49:37] REKT : Liquidated short on `LTCXBT`: Buy 100 @ 0.00669
[2016-08-23 09:50:24] REKT : Liquidated long on `XBTUSD`: Sell 1 @ 578.53 :punch: :whale:
[2016-08-23 09:52:20] Kalman : ofc, to each his own; if someone likes to use an instrument with a money supply >10%, be my guest; only it contradicts a little the definition of 'store of value' when one can purchase less goods in the future than today
[2016-08-23 10:02:52] sleger : Kalman: did you know that gold had a 1.5% supply increase yearly ? Would you say that therefore gold is not a good store of value ?
[2016-08-23 10:11:37] Kalman : sleger: what money supply would you prefer, 1.5% or 0 % ?
[2016-08-23 10:19:35] sleger : Kalman: you did not answer the question, you said 1% inflation => bad store of value. Since gold has 1.5% inflation, you said gold is a bad store of value, and I see why you are trying to not answer the question
[2016-08-23 10:33:27] aethlios : anyone wants to buy ltc to gin from the pump?? I am selling 10.000 in a small premium, what is your bid price??
[2016-08-23 10:35:39] Kalman : sleger: When one is repeatedly writing 'inflation >1%' it includes not only 1.5% but also 10% and above. Does it mean that 1.5 is worse than 10? As some like to play with words, is an asset with a money supply of 10% better suited as store of value than an asset with only 1.5%? Actually that is not the only factor affecting value! Who knows if people in the future (far or near) have the same preferences and subjective valuation towards gold?! The 5000 years history of gold may not repeat in the future. Saying that is not implying that I forecast/expect/... such a change in peoples subjective valuation ....
[2016-08-23 10:39:22] sleger : you could just have said you were wrong
[2016-08-23 10:43:29] rapidtrades : zanza: can't find the ETF news?
[2016-08-23 10:45:19] Tetsuo : u got trolled
[2016-08-23 11:03:44] Kalman : sleger: not at all! Your statements are misleading, 'inflation >1%'
[2016-08-23 11:15:22] REKT : Liquidated long on `ETC7D`: Sell 480 @ 0.002724
[2016-08-23 11:15:22] REKT : Liquidated long on `ETC7D`: Sell 958 @ 0.002726
[2016-08-23 11:16:32] REKT : Liquidated long on `ETC7D`: Sell 200 @ 0.002716
[2016-08-23 11:16:52] REKT : Liquidated long on `ETC7D`: Sell 9 @ 0.002713
[2016-08-23 11:32:17] sleger : "Kalman: Therefore, monero implements a "permanent block reward". The block reward will never drop below 0.3 XMR, making monero a disinflationary currency: the inflation will be roughly 1% in 2022 and go down forever" followed by "Kalman: there's always an incentive for the miners to keep network secure, but this incentive is violation users interest to use it as store of value" so the 1% floor came from you
[2016-08-23 11:39:47] Kalman : sleger: Isn't it?! A positive money supply is to reject if there is an instrument/asset that has zero money supply. Which instrument is to prefer for preservation of purchasing power, 1% or 0%?
[2016-08-23 11:40:49] sleger : everything else being equal yes 0%. But you are ignoring your mistake, you said monero (or whatever altcoin it was) has a 1% inflation rate therefore it is not a good store of value, this is wrong. For instance gold has a 1.5% supply inflation
[2016-08-23 11:54:24] billyboy402 : wow the market is dead here , hasnt been a trade for 30 min
[2016-08-23 11:58:41] Kalman : sleger: What xmr does is it lets the saver subsidize the security of the network, right? While btc's model is 'pay by use'.
[2016-08-23 11:59:39] Kalman : https://en.wikipedia.org/wiki/File:Monero_coin_supply_and_inflation_over_time.png
[2016-08-23 12:01:37] REKT : Liquidated long on `ETC7D`: Sell 22 @ 0.002699
[2016-08-23 12:02:07] REKT : Liquidated long on `LSKXBT`: Sell 1227 @ 0.000448
[2016-08-23 12:02:37] REKT : Liquidated long on `LSKXBT`: Sell 900 @ 0.000443
[2016-08-23 12:09:52] REKT : Liquidated long on `ETC7D`: Sell 1201 @ 0.002685
[2016-08-23 13:02:08] palgba : i got liquidated on lisk with exec price of 0.000346 . what? price never reached this levels
[2016-08-23 13:02:21] palgba : how this happens
[2016-08-23 13:05:42] sleger : long lisk ...
[2016-08-23 13:06:14] Rado : palgba: liquidation is not based on the execution price
[2016-08-23 13:06:49] Rado : sleger: you are long?
[2016-08-23 13:08:25] sleger : of c not
[2016-08-23 13:08:33] Rado : funding is crazy
[2016-08-23 13:08:36] Rado : 1.42%
[2016-08-23 13:08:47] BitMEX_Wally : palgba: Your liquidation trigger price was 0.000450 and your bankruptcy price was 0.000346 (due to maintenance margin)
[2016-08-23 13:09:11] rapidtrades : wow that sucks
[2016-08-23 13:09:30] sleger : its only 4% per day ... lol
[2016-08-23 13:10:03] nip : open walue is nothing
[2016-08-23 13:10:05] palgba : Thanks wallyso that meas i got liquidated at 450 and noy 346?
[2016-08-23 13:10:40] palgba : Really dont get he execution price still
[2016-08-23 13:12:40] billyboy402 : BitMEX_Wally: hey mate , wil you be canceling the 3 month future after the 25 step
[2016-08-23 13:14:40] sleger : palgba: you got stopped at 450 price, but its like you sold at 346, thanks for your contribution to the insurance fund
[2016-08-23 13:18:10] billyboy402 : yea you get trigged at mark price , which is good so you dont get eating buyyy whale .... but I find when your about to margin call the whale know and you pay huge slipage
[2016-08-23 13:21:04] palgba : So is like i sold at 346 ? How does that make sense
[2016-08-23 13:21:27] sleger : its called maintenance margin
[2016-08-23 13:22:18] Rado : palgba: I think the most important thing to take from this is that you need to be careful where your risk is
[2016-08-23 13:22:37] Rado : why does it matter what the price is, you lost all the BTC invested in that trade
[2016-08-23 13:22:39] palgba : How i avoid this
[2016-08-23 13:22:59] Rado : by making sure your liquidation price is far from current prices
[2016-08-23 13:23:04] billyboy402 : it would be great if - get trigged at mark price , but you dont market close into the orderbook but maybe close a 1% lower then mark price
[2016-08-23 13:23:12] Rado : you could also use stop orders
[2016-08-23 13:23:40] palgba : All this because i didnt use a stop market order
[2016-08-23 13:23:56] palgba : If that is the case i will have it
[2016-08-23 13:24:04] palgba : Next time
[2016-08-23 13:24:07] justinlooking : xmr volatility is batshit
[2016-08-23 13:24:20] Rado : palgba: I use stop orders
[2016-08-23 13:24:25] Rado : many people don't like them
[2016-08-23 13:24:28] justinlooking : if u list xmr here the rektbot is going to explode
[2016-08-23 13:24:34] Rado : depends on the instrument
[2016-08-23 13:24:35] palgba : Just still think its ridiculous to have such low execution price
[2016-08-23 13:24:43] palgba : Really makes no sense sorry
[2016-08-23 13:24:44] Rado : for XBTUSD it's easy to use a stop
[2016-08-23 13:25:13] palgba : I had my liquidation as stop
[2016-08-23 13:25:27] palgba : Never happened this before
[2016-08-23 13:25:41] palgba : Bitmex really have yo sort this stuff out
[2016-08-23 13:25:59] Rado : sort it how?
[2016-08-23 13:26:04] palgba : Im starting to not trade here
[2016-08-23 13:26:06] palgba : Sorry
[2016-08-23 13:26:06] Rado : they designed it that way
[2016-08-23 13:26:20] Rado : palgba: there is always Poloniex
[2016-08-23 13:27:10] palgba : So you its logic to have a trade executed at a price it never reached
[2016-08-23 13:27:24] palgba : Where else do you see this happening
[2016-08-23 13:27:33] BitMEX_Sam : palgba: The execution price you're seeing is your bankruptcy price, not your execution price
[2016-08-23 13:27:52] BitMEX_Sam : When the liquidation engine takes over your position, you lose the position - therefore the debit to your account is at your bankruptcy price
[2016-08-23 13:28:05] BitMEX_Sam : This is the same on OKC and other highly leveraged platforms
[2016-08-23 13:28:38] palgba : It's like if i sold at that price right?
[2016-08-23 13:28:50] BitMEX_Sam : Yes. You lose the position entirely when you are liquidated
[2016-08-23 13:29:03] BitMEX_Sam : LSK has particularly high maintenance margin because it is a generally illiquid alt
[2016-08-23 13:29:17] I-am-Legend : hi sam
[2016-08-23 13:30:01] I-am-Legend : im confused i dont see any rebalance on the finex coin in top right section
[2016-08-23 13:30:21] BitMEX_Sam : I-am-Legend: It rebalances daily at 12:00 UTC - you can see the time in the contract specification
[2016-08-23 13:30:31] BitMEX_Sam : We'll release an update to put that countdown in the ticker.
[2016-08-23 13:30:39] I-am-Legend : but in the top right there is nothing
[2016-08-23 13:30:43] rapidtrades : man losing 33% in maintenance margin sucks
[2016-08-23 13:31:01] I-am-Legend : like eth you see rebalance in top right
[2016-08-23 13:31:14] I-am-Legend : finex coin only see settlement in 3 days
[2016-08-23 13:31:37] I-am-Legend : how do we know when there is rebalance when its not on the site
[2016-08-23 13:32:10] sleger : rapidtrades: 20% ?
[2016-08-23 13:32:40] BitMEX_Sam : Every contract has rebalance.
[2016-08-23 13:32:49] BitMEX_Sam : That is, every long-dated contract.
[2016-08-23 13:32:58] BitMEX_Sam : I agree the messaging needs to be updated and we're doing that.
[2016-08-23 13:33:05] BitMEX_Sam : Rebalance doesn't affect your profitability so it shouldn't be a concern.
[2016-08-23 13:33:13] rapidtrades : sleger: idk lev is 3.33/1 so?
[2016-08-23 13:33:26] BitMEX_Sam : rapidtrades: Look at the contract spec
[2016-08-23 13:33:31] sleger : so first of all that would be 30% not 33%
[2016-08-23 13:33:38] sleger : but initial margin is not maintenance margin
[2016-08-23 13:33:41] sleger : so its 20%
[2016-08-23 13:33:49] rapidtrades : k
[2016-08-23 13:34:01] I-am-Legend : yeah but i didnt know i just thought tis settlement in 3 days like ETC as it looks the same .. that needs to be updated urgently misleading to noobs
[2016-08-23 13:35:20] BitMEX_Sam : It is settling in 3 days just like ETC.
[2016-08-23 13:35:25] BitMEX_Sam : Rebalance doesn't affect your profit.
[2016-08-23 13:35:49] rapidtrades : I-am-Legend: did u long the toekns?
[2016-08-23 13:40:09] rapidtrades : why is Litecoin surging today
[2016-08-23 13:43:28] Rado : rapidtrades: looks like a lot of pump and dumps happning
[2016-08-23 13:43:42] Rado : there are 9 coins on Polo with more than 1000 BTC volume
[2016-08-23 13:44:01] Rado : Polo might turn to be the winner of exchanges after all
[2016-08-23 13:45:20] I-am-Legend : its been 10 days since BFX was listed, not cool the re-balance ticker is not added, it effects trading strategy when you think its just settlement in 2 days compared to finding out next day there is re-balance to. please have that fixed urgently . im long so not a big deal but still would appreciate the website being consistent
[2016-08-23 13:45:52] BitMEX_Sam : I-am-Legend: Rebalance does not affect your profit.
[2016-08-23 13:46:14] BitMEX_Sam : A pending rebalance should not affect your strategy whatsoever.
[2016-08-23 13:46:35] I-am-Legend : i know man but it affects how i trade .how i close & open a position affects the trade
[2016-08-23 13:47:15] BitMEX_Sam : I'm not sure I understand what you're saying
[2016-08-23 13:47:21] BitMEX_Wally : The rebalance countdown has been fixed in testnet and will be released to prod soon: https://testnet.bitmex.com/app/trade/BFXQ16
[2016-08-23 13:47:29] I-am-Legend : doesnt matter if it does or not if there is a ticker for some contracts showing rebalance count down should be one for all. just keeping the UI clean avoid giving noobs a reason to complain if they lose money
[2016-08-23 13:47:42] I-am-Legend : ok great thanks wally
[2016-08-23 13:47:58] BitMEX_Sam : You won't lose money because of this change because it does not affect your profit. It also does not affect any trade strategy unless you're trying to avoid DPE, in which case frequent rebalance is a benefit
[2016-08-23 13:57:55] premjeraz : i had almost the same problem... where number not match and i cant find the answer, where and why was taken funds after rebalance.. i wont trade here anymore...., and i see ltcxbt moving up, where my contracts could make 1+ btc
[2016-08-23 14:01:17] BitMEX_Sam : premjeraz: And your questions were answered. Funds were not taken at rebalance, it simply realizes unrealized profit. It doesn't affect liquidation. Please refer to the many emails we sent you.
[2016-08-23 14:03:31] Rado : BitMEX_Sam: regardless of how experienced users are here it's apparent that better documentation is needed.
[2016-08-23 14:03:51] BitMEX_Greg : Rado: We're in the process of overhauling some of the information on the site.
[2016-08-23 14:04:00] Rado : Better in a way that it explains it in simpler terms and it's more front and center on the site
[2016-08-23 14:04:19] rapidtrades : Rado: polo huh....who would've thought
[2016-08-23 14:04:21] Rado : BitMEX_Greg: cool
[2016-08-23 14:04:44] BitMEX_Greg : Rado: Yeah that's the taim
[2016-08-23 14:04:48] Rado : rapidtrades: the exchange might not be the best, but they have a good business model imo
[2016-08-23 14:05:58] rapidtrades : any business model that doesn't involve stealing customer funds would do ok in this space
[2016-08-23 14:13:11] rapidtrades : the bar is set pretty low here
[2016-08-23 14:25:56] Rado : lol
[2016-08-23 14:26:01] Rado : rapidtrades: so true
[2016-08-23 14:31:09] REKT : Liquidated long on `LTCXBT`: Sell 195 @ 0.00661
[2016-08-23 14:34:10] BitMEX_Wally : You can now trade Monero with 10x leverage: https://www.bitmex.com/app/trade/XMR7D
[2016-08-23 14:53:30] Rado : BitMEX_Wally: very nice
[2016-08-23 15:01:14] Rado : anyone know why the flood of BTC to XMR?
[2016-08-23 15:01:39] Rado : I refuse to think that only the fact that XMR is good for darknet transaction is the reason
[2016-08-23 15:04:07] REKT : Liquidated long on `XMR7D`: Sell 1 @ 0.00817 :punch: :whale:
[2016-08-23 15:04:52] Rado : lol
[2016-08-23 15:04:59] Rado : first liquidation on XMR
[2016-08-23 15:06:16] Airmike : @BitMEX_Wally I see that you can bring new product very quickly :)
[2016-08-23 15:06:21] Airmike : nice
[2016-08-23 15:06:33] Airmike : thats good
[2016-08-23 15:06:41] Rado : BFX was added quickly as well
[2016-08-23 15:06:54] Rado : I guess the software is designed to allow for that
[2016-08-23 15:06:57] BitMEX_Greg : Rado: The dark market was the reason why BTC increased in price so quickly in the first place.
[2016-08-23 15:06:59] Rado : good indeed
[2016-08-23 15:07:19] Rado : BitMEX_Greg: It's sad in a way
[2016-08-23 15:07:30] Rado : I wish for crypto to become mainstream
[2016-08-23 15:07:36] Rado : not just for shady dealings
[2016-08-23 15:07:36] BitMEX_Greg : Airmike: Wally and Sam have created an extremely efficient trading engine and front-end to allow for such!
[2016-08-23 15:08:24] Airmike : I see that you are smart guys. I am looking forward to join soon.
[2016-08-23 15:08:42] BitMEX_Greg : Rado: I agree. But right now there's no incentive to buy a laptop using bitcoin from Dell over a credit card, for example. With credit cards you may have rebates such as 2% cash back or you may earn air miles. Unless there was a 5% discount using Bitcoin then why would you bother?
[2016-08-23 15:16:10] ButchPooch : Do you think it is time to short on Monero?
[2016-08-23 15:19:01] ButchPooch : Shorting XMR on x10. It's never getting past 0.009. It will get back to 0.0065. Do you think so too?
[2016-08-23 15:19:31] BitMEX_Greg : ButchPooch: This is an interesting question, since there is a strong fundamental reason for the move up in Monero, rather than just a technical overshoot
[2016-08-23 15:19:57] ButchPooch : Are you talking about DNM support?
[2016-08-23 15:20:12] ButchPooch : I think that it has been a reason for it to go up hours ago, right now it's only speculation
[2016-08-23 15:20:41] ButchPooch : Pretty sure it will go down, don't know when. Hope it will soon
[2016-08-23 15:20:56] BitMEX_Greg : Could not be entirely priced in yet
[2016-08-23 15:21:09] BitMEX_Greg : AlphaBay announced support right?
[2016-08-23 15:21:38] BitMEX_Greg : What would be killer for Monero if one of these darknets said they are going to be completely done with Bitcoin and just use dark coins instead like Monero
[2016-08-23 15:23:33] REKT : Liquidated short on `XMR7D`: Buy 178 @ 0.00881
[2016-08-23 15:26:54] laisee : hold off on shorting for now ...
[2016-08-23 15:35:51] bitbucks : those dnm's are still prepping the xmr functions such as the switch from transaction id's to integrated addresses
[2016-08-23 15:43:24] RoftheN : Should we all short XMR?
[2016-08-23 15:44:37] rapidtrades : im not shorting that thing
[2016-08-23 15:45:41] RoftheN : Why not? Soon the XMR Poloniex deposits will open and the holders will sell
[2016-08-23 15:48:38] REKT : Liquidated long on `LTCXBT`: Sell 9 @ 0.00661
[2016-08-23 15:48:48] rapidtrades : cos what doubles once can double again
[2016-08-23 15:50:22] REKT : Liquidated short on `XMR7D`: Buy 300 @ 0.00912
[2016-08-23 15:51:03] rapidtrades : hey! we have XMR here...nice
[2016-08-23 15:53:35] BitMEX_Greg : Haha did you find that out from the rekt bot?
[2016-08-23 15:53:51] rapidtrades : yes
[2016-08-23 15:54:19] BitMEX_Greg : We listed not long ago, have a few tweets out
[2016-08-23 16:19:49] RoftheN : How can a 0.00912 be short be liquidated if my 0.0092 wasn't even touched?
[2016-08-23 16:22:37] REKT : Liquidated long on `XMR7D`: Sell 250 @ 0.00874
[2016-08-23 16:24:33] REKT : Liquidated long on `XMR7D`: Sell 200 @ 0.00834
[2016-08-23 16:26:40] BitMEX_Greg : RoftheN: The price you see on your trade history is the bankruptcy price
[2016-08-23 16:27:21] BitMEX_Greg : To get to the liquidation price, you need to add back your maintenance margin (5%)
[2016-08-23 16:30:14] RoftheN : Ooh okay
[2016-08-23 16:31:01] Martinos : wow ltc
[2016-08-23 16:31:24] BitMEX_Greg : RoftheN: Be careful trading on a high leverage, as once the mark price touches your liquidation price you will lose your maintenance margin (5%)
[2016-08-23 16:32:25] BitMEX_Greg : Also note that, given this is Monero is a 7D futures product, the mark price is set via the Fair Price Marking method (https://www.bitmex.com/app/fairPriceMarking)
[2016-08-23 16:33:34] BitMEX_Greg : So the mark price may trade at prices that are away from the Poloniex price.
[2016-08-23 16:45:14] Rado : ETH is now 4th on the volume list at Polo
[2016-08-23 16:45:15] Rado : lol
[2016-08-23 17:32:31] omicron : good job bitmex adding monero
[2016-08-23 17:32:41] omicron : you guys are very responsive to the market
[2016-08-23 17:35:33] REKT : Liquidated long on `XMR7D`: Sell 100 @ 0.00806
[2016-08-23 17:35:37] REKT : Liquidated long on `XMR7D`: Sell 250 @ 0.00791
[2016-08-23 18:07:00] rapidtrades : dam that xmr orderbook is shot
[2016-08-23 18:08:02] esuvari : wth
[2016-08-23 18:08:18] esuvari : bots gone on strike
[2016-08-23 18:08:38] esuvari : too much volatility
[2016-08-23 18:12:28] BitMEX_Sam : Our lead MM tells us there are Poloniex connectivity issues for pricing data
[2016-08-23 18:12:32] BitMEX_Sam : They will be back in shortly
[2016-08-23 19:08:30] xzsd : crazy whale in LTC/poloniex
[2016-08-23 19:08:30] xzsd : lol
[2016-08-23 19:08:35] xzsd : LISK*
[2016-08-23 19:08:48] xzsd : put the wall in 70k now
[2016-08-23 19:23:22] premjeraz : If not that position close.. Im still not sure is kegit one..soon i will make normal report, with the question..I could have 3btc now, was good call with ltc
[2016-08-23 19:23:39] REKT : Liquidated short on `FCTXBT`: Buy 3001 @ 0.005519
[2016-08-23 19:24:56] TA : Ltc dump incoming on polo
[2016-08-23 19:25:33] TA : huge sell wall on ltc at around 70k.. bringing it down
[2016-08-23 19:42:46] TA : 679 k.. now it will be back to 600k
[2016-08-23 19:42:48] TA : soon
[2016-08-23 19:43:52] REKT : Liquidated long on `XMR7D`: Sell 14 @ 0.007857
[2016-08-23 19:54:17] Tetsuo : so is just a coincidence that XMR deposits are not available on the day it jumps 100%? "Wallet sync" WTF, That place...
[2016-08-23 19:54:28] Tetsuo : #polo
[2016-08-23 20:58:30] ayy_lmao : i just sent btc here and xmr liquidity is gone lmao
[2016-08-23 20:58:38] ayy_lmao : smh
[2016-08-23 21:00:35] Tetsuo : lol, nice spread in here 0.007-.0092
[2016-08-23 21:03:20] Tetsuo : i´m sorry for everyone who as an open position
[2016-08-23 21:03:35] ayy_lmao : inorite
[2016-08-23 21:03:44] ayy_lmao : mm prob was too long or too short
[2016-08-23 21:03:47] ayy_lmao : and got scared
[2016-08-23 21:14:02] BitMEX_Greg : Checking with the lead MM now
[2016-08-23 21:51:19] rapidtrades : he's back
[2016-08-23 21:55:09] I-am-Legend : hey greg
[2016-08-23 21:55:24] I-am-Legend : the interest on eth is 0.5% how come its so high
[2016-08-23 21:55:56] I-am-Legend : who is paying it shorts or longs ? is there a way to know just looking at top right on the trading page ?
[2016-08-23 21:57:56] rapidtrades : positive means longs pay
[2016-08-23 22:02:38] BitMEX_Greg : I-am-Legend: Hi
[2016-08-23 22:03:23] BitMEX_Greg : Right now, the funding is +0.48%, which means that longs PAY shorts 0.48% on their position.
[2016-08-23 22:05:15] BitMEX_Greg : If it is positive then that means longs will pay, if it is -ve then that means shorts will pay
[2016-08-23 22:07:21] REKT : Liquidated short on `XMR7D`: Buy 6401 @ 0.007612
[2016-08-23 22:08:43] I-am-Legend : ok got it thanks
[2016-08-23 22:09:01] I-am-Legend : how does the system decide who is paying
[2016-08-23 22:09:15] I-am-Legend : is it mostly longs paying shorts ?
[2016-08-23 22:09:52] Tetsuo : tea leafs, moon cycles , you call it we have it
[2016-08-23 22:11:02] I-am-Legend : ur all rekt
[2016-08-23 22:15:58] I-am-Legend : greg ??
[2016-08-23 22:16:35] BitMEX_Greg : I-am-Legend: It's depending on the liquidity of the market and the flow of buys and sells. More specifically take a read over the Funding Calculation here: https://www.bitmex.com/app/swapsGuide#funding
[2016-08-23 22:16:56] I-am-Legend : ok thanks doing it now
[2016-08-23 22:18:06] I-am-Legend : also the 0.5 interest currently.. say for example 1000 eth contracts is worth 11000$ doe that mean u pay or get 0.5% of 11000$ every funding round ?
[2016-08-23 22:19:27] aethlios : I-am-Legend: thats right
[2016-08-23 22:19:35] BitMEX_Greg : You will get paid the XBT amount yeah.
[2016-08-23 22:19:57] I-am-Legend : xbt is just btc ?
[2016-08-23 22:20:07] BitMEX_Greg : Yeah its the official ISO code Bitcoin
[2016-08-23 22:20:16] aethlios : I-am-Legend: but could reverse, then need to close or reverse position, pay fees and bid ask spread.
[2016-08-23 22:20:38] BitMEX_Greg : Unofficial*
[2016-08-23 22:21:04] I-am-Legend : what if i the interest changes from one side to the other you will close positions ?
[2016-08-23 22:22:14] I-am-Legend : also is the funding xbt paid based on mark price ?
[2016-08-23 22:24:25] BitMEX_Greg : I-am-Legend: No, you need to keep an eye on the funding level yourself. We do not close your positions unless it is liquidated.
[2016-08-23 22:24:32] aethlios : I-am-Legend: if you don't close then you will pay funding.usually when market bullish it has a positive funding for shorts and opposite when market bearish.
[2016-08-23 22:25:10] BitMEX_Greg : You can take a look at the "Predicted Funding" by hovering over the current Funding in the Contract Details tab
[2016-08-23 22:28:43] I-am-Legend : cant find predicted funding greg looking for it
[2016-08-23 22:28:59] BitMEX_Greg : I-am-Legend: Press the "Trade" tab
[2016-08-23 22:29:23] BitMEX_Greg : Then on the left hand side where the order controls are, down the bottom you will see "Contract Details ETHXBT"
[2016-08-23 22:29:25] I-am-Legend : yeah ?
[2016-08-23 22:29:34] I-am-Legend : ok
[2016-08-23 22:30:03] BitMEX_Greg : Then underneath you will see terms such as Pricing Source, 24H Volume, Open Value and Funding
[2016-08-23 22:30:09] BitMEX_Greg : hover your mouse over "Funding"
[2016-08-23 22:31:21] I-am-Legend : its saying funding 0.586% in 5 hours + predicted funding 0.4%
[2016-08-23 22:31:25] I-am-Legend : ??
[2016-08-23 22:31:58] I-am-Legend : so on funding will get 0.58?
[2016-08-23 22:32:36] I-am-Legend : 0.4 is not in 5 hours but the one after right? just guessing
[2016-08-23 22:33:05] BitMEX_Greg : Yes my apologies, the rate is 0.5867% in 5 hours which is fixed
[2016-08-23 22:33:19] BitMEX_Greg : The predicted funding is an anticipated funding given how the market is moving in the current 8 hour period now
[2016-08-23 22:33:41] I-am-Legend : so current funding fixed
[2016-08-23 22:33:47] BitMEX_Greg : That's correct
[2016-08-23 22:34:23] I-am-Legend : so predicted is for the one after, next 0.58 one after 0.4 predicted ?
[2016-08-23 22:34:24] BitMEX_Greg : But be aware of where the market is trading now, if everyone is trying to sell to take advantage of the high funding levels then the market may be trading at a discount
[2016-08-23 22:34:35] BitMEX_Greg : Predicted is 0.4% but it is dropping
[2016-08-23 22:35:54] I-am-Legend : i see but in 5 hours its fixed at 0.58 so the 0.4 predicted is 11 hours from now ?
[2016-08-23 22:36:43] BitMEX_Greg : It will be 0.5867% in 5 hours, and then predicted 0.4% in 5 + 8 hours
[2016-08-23 22:37:47] BitMEX_Greg : Funding periods occur every 8 hours
[2016-08-23 22:38:20] I-am-Legend : got it thanks getting to understand the site now
[2016-08-23 22:38:41] I-am-Legend : better to get rekt knowing what your doing
[2016-08-23 22:38:47] BitMEX_Greg : No worries, we are going to have some clearer guides on the site soon. In the meantime just @ buzz me if you need anything more clarifying
[2016-08-23 22:38:52] BitMEX_Greg : haha agree
[2016-08-23 22:38:58] I-am-Legend : hehe
[2016-08-23 22:39:19] I-am-Legend : one more thing if i close now i still pay or get funding in 5 hours ?
[2016-08-23 22:40:04] BitMEX_Greg : If you close then you won't get any funding. You need to hold the position at the funding time (in 5 hours) if you want to receive the funding.
[2016-08-23 22:40:17] BitMEX_Greg : Rather, you won't pay funding if you close now*
[2016-08-23 22:40:55] I-am-Legend : ok so if i open a position 1 min before funding
[2016-08-23 22:41:01] BitMEX_Greg : That's right
[2016-08-23 22:41:04] I-am-Legend : i still pay or get the rebate ?
[2016-08-23 22:41:09] BitMEX_Greg : Just pay attention to where the market is trading however
[2016-08-23 22:41:11] BitMEX_Greg : Yes
[2016-08-23 22:41:24] BitMEX_Greg : But it's not referred to rebate, but funding*
[2016-08-23 22:41:47] I-am-Legend : so at 0.5 % someone can open 1k contracts 1 min before in a short & get interest ?
[2016-08-23 22:42:03] ayy_lmao : ive always wondered how that works
[2016-08-23 22:42:09] ayy_lmao : it cant be that easy right
[2016-08-23 22:42:23] I-am-Legend : seems it is ?
[2016-08-23 22:42:51] BitMEX_Greg : Yes, but the market may be 0.5% trading under the Mark Price, so if you try to short to receive 0.5% worth of funding, then you will be paying 0.5% on the market
[2016-08-23 22:45:36] I-am-Legend : so longs will want to close before next round of funding not to pay the 0.5% right..
[2016-08-23 22:47:23] BitMEX_Greg : Yeah that's what may push the price down
[2016-08-23 22:47:35] I-am-Legend : im short eth now. who is paying me the 0.5% when its time for funding ? i dont get where thats coming from if longs try to get before the funding
[2016-08-23 22:48:32] I-am-Legend : so longs push price down & people trying to get 0.5 % at funding ? that would mean great time to close your short ?
[2016-08-23 22:48:48] I-am-Legend : but then u lose the 0.5% closing before the funding ?
[2016-08-23 22:49:40] BitMEX_Greg : I-am-Legend: The market is zero-sum, meaning that for every 1 short there is 1 long.
[2016-08-23 22:49:46] I-am-Legend : who made this system so complex.. cant fomo in cause u have to think so much before u open a trade lol
[2016-08-23 22:50:16] ayy_lmao : lol so true
[2016-08-23 22:51:05] BitMEX_Greg : I-am-Legend: We are working on making it slightly less complicated to understand for new users.
[2016-08-23 22:51:07] I-am-Legend : so current mark is 1906 but index is 1899.. means trading over the real price avg
[2016-08-23 22:51:24] BitMEX_Greg : The difficulty lies in the fact that the swap is a perpetual product, rather than a fixed expiry future
[2016-08-23 22:51:34] I-am-Legend : yeah i lost 6 btc first week cause i didnt know what i was doing rekt
[2016-08-23 22:51:45] BitMEX_Greg : So the market is currently trading UNDER the Mark Price (i.e. a discount).
[2016-08-23 22:51:46] I-am-Legend : i didnt leave stayed on to learn
[2016-08-23 22:52:02] I-am-Legend : ohh i see yeah
[2016-08-23 22:52:12] I-am-Legend : its even tradinf under the real price
[2016-08-23 22:52:15] BitMEX_Greg : I'm glad you stayed on, we're always here to help users understand how it works
[2016-08-23 22:52:17] I-am-Legend : why ?
[2016-08-23 22:52:26] BitMEX_Greg : I presume because of the funding reason
[2016-08-23 22:52:37] I-am-Legend : i see & longs wanting out
[2016-08-23 22:52:45] BitMEX_Greg : Most likely longs are trying to exit, or people are putting on new shorts to take advantage of the funding