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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[2016-11-02 08:59:35] wurstgelee : u look a bit sick
[2016-11-02 08:59:38] rapidtrades : now BTC is dumping
[2016-11-02 08:59:44] rapidtrades : good for ZEC tho
[2016-11-02 08:59:52] laisee : wurstgelee: thats a great shirt
[2016-11-02 09:00:05] wurstgelee : laisee: yep ;)
[2016-11-02 09:00:18] UncleCreepy : how much is one SEC?
[2016-11-02 09:00:32] REKT : Liquidated long on `XBTZ16`: Sell 12500 @ 760.13
[2016-11-02 09:00:33] UncleCreepy : ZEC?
[2016-11-02 09:00:34] wurstgelee : 1000 mSec
[2016-11-02 09:01:07] laisee : 1.5BTC or o.3999BTC - depends what store u buy at
[2016-11-02 09:01:33] wurstgelee : hehe
[2016-11-02 09:01:57] CapitalGains : Oh man, to sell my ZEC longs on polo...
[2016-11-02 09:02:26] wurstgelee : waiting for another confirmation, btc soooo slow :/
[2016-11-02 09:02:26] UncleCreepy : I want to buy at the discount shop hehe
[2016-11-02 09:02:31] wurstgelee : adding more hashes
[2016-11-02 09:02:35] wurstgelee : :)
[2016-11-02 09:02:46] CapitalGains : wurstgelee: You're confident of a pump to 2?
[2016-11-02 09:03:00] rapidtrades : UncleCreepy: u can buy but prepare to hold for 2 months if needed
[2016-11-02 09:03:02] wurstgelee : CapitalGains: i figure it will eventually happen in the near future
[2016-11-02 09:03:06] wurstgelee : ;)
[2016-11-02 09:03:51] CapitalGains : I also think once more is likely... not sure how many times after that
[2016-11-02 09:03:53] rapidtrades : can't we fix the margin needed to some time-weigthed average?
[2016-11-02 09:04:13] rapidtrades : instead of last on ZEC?
[2016-11-02 09:04:25] rapidtrades : cos they're obv not going to polo yet
[2016-11-02 09:05:06] UncleCreepy : Hold it for 2 months?
[2016-11-02 09:05:21] rapidtrades : if needed :)
[2016-11-02 09:08:45] UncleCreepy : Well there goes my short term strategy:(
[2016-11-02 09:09:50] rapidtrades : can't do ZEC here short-term...just look at that spread
[2016-11-02 09:09:55] bbking : 昨天空到现在，终于盈利了
[2016-11-02 09:10:24] rapidtrades : over 22% spread
[2016-11-02 09:10:42] CapitalGains : Actually if you're patient you can make a sizeable profit just trading across the spread like a trade bot
[2016-11-02 09:11:18] aethlios : https://www.tradingview.com/x/Apxhw2PY/
[2016-11-02 09:11:28] aethlios : btc upside in early stage
[2016-11-02 09:12:15] CapitalGains : aethlios: Nice graphic
[2016-11-02 09:12:21] rapidtrades : @aethlios whats ur average ZEC price
[2016-11-02 09:12:26] kradiav : btc - launchpad mode /t
[2016-11-02 09:13:08] rapidtrades : 2 days ago operation Fury margined over 100 shorts...are you SAFE?
[2016-11-02 09:13:26] aethlios : rapidtrades: 2,35 closed 0,3, then opened 15* 0,5825 closed 5 0,375 and want to close 10 left (I am the 0,35 buyer) to free margin to use for btc
[2016-11-02 09:13:58] rapidtrades : cool
[2016-11-02 09:14:16] aethlios : i have liq. price 10,23 so i use to much margin, i want to concentrate to btc now
[2016-11-02 09:14:39] aethlios : do some arb receive the premium
[2016-11-02 09:14:44] rapidtrades : yeah doesn't make sense...risk 9.5 BTC max gain 0.5 btc
[2016-11-02 09:16:43] CapitalGains : Short on offer at 0.399, limited time only :D
[2016-11-02 09:18:01] aethlios : 0,35 my bid, in 2 days will look a bargain
[2016-11-02 09:18:17] CapitalGains : Probably.
[2016-11-02 09:18:39] rapidtrades : aethlios: then keep ur short
[2016-11-02 09:18:42] rapidtrades : talk is cheap
[2016-11-02 09:18:54] rapidtrades : 0.375% in btc is nothing
[2016-11-02 09:19:48] CapitalGains : aethlios: I agree, it's more about waiting.
[2016-11-02 09:20:15] rapidtrades : but he's short
[2016-11-02 09:20:48] rapidtrades : he says in 2 days we will be lower
[2016-11-02 09:21:13] arbitrage001 : has been saying that since the beginning?
[2016-11-02 09:21:20] arbitrage001 : before zcash launch
[2016-11-02 09:21:34] rapidtrades : yea he said we'll go to 0.1 on polo 2 days ago
[2016-11-02 09:21:40] rapidtrades : prolly lost a ton
[2016-11-02 09:21:49] arbitrage001 : he said a lot of things turn
[2016-11-02 09:21:55] arbitrage001 : all turn out to be wrong
[2016-11-02 09:22:03] arbitrage001 : just bet against next thing he say
[2016-11-02 09:22:25] rapidtrades : it would've been much worse if he didn't get a helping hand from big brother
[2016-11-02 09:23:02] rapidtrades : ok worse, not much worse :)
[2016-11-02 09:23:04] wurstgelee : another one accepted zec is not a short .4
[2016-11-02 09:23:06] wurstgelee : ;)
[2016-11-02 09:24:05] rapidtrades : if the supply stuff ppl keep trotting out matters then i can't see it below 0.5-0.75
[2016-11-02 09:24:06] BitMEX_Jack : bbking: 你需要我们加你进wechat群吗？
[2016-11-02 09:24:22] rapidtrades : that would be 100-200m market cap
[2016-11-02 09:24:27] wurstgelee : ~ 0.09 ZEC per block ;)
[2016-11-02 09:24:52] rapidtrades : i mean on dec30
[2016-11-02 09:25:15] CapitalGains : wurstgelee: Is that what you're getting?
[2016-11-02 09:25:15] wurstgelee : suprnova has is ~ 33% nethash so, ~ .03 per ZEC block added. ;)
[2016-11-02 09:25:29] wurstgelee : CapitalGains: mining rate
[2016-11-02 09:25:30] wurstgelee : yep
[2016-11-02 09:25:44] l3f : BitMEX_Jack: how do I get into the wechat group?
[2016-11-02 09:25:45] rapidtrades : so that's what 1 ZEC per hr?
[2016-11-02 09:26:03] CapitalGains : So 0.36 ZEC for every mined BTC at the moment
[2016-11-02 09:26:04] BitMEX_Jack : l3f: Give me your wechat id
[2016-11-02 09:26:21] wurstgelee : CapitalGains: how did u get the "per btc"?
[2016-11-02 09:26:22] l3f : BitMex_Jack: not in public m80
[2016-11-02 09:26:25] arbitrage001 : BitMEX_Jack: arbitrage0001
[2016-11-02 09:26:38] arbitrage001 : oh siht, i release my id
[2016-11-02 09:26:40] CapitalGains : 2.5 mins vs 10 mins mining time
[2016-11-02 09:26:42] wurstgelee : CapitalGains: throwing 3 btc @ it, mining @ 75 kSol atm
[2016-11-02 09:26:44] arbitrage001 : pls dont hack me
[2016-11-02 09:27:08] l3f : arbitrage001: hacked, gg for you
[2016-11-02 09:29:13] BitMEX_Jack : arbitrage001: just sent the friend request to u
[2016-11-02 09:30:18] arbitrage001 : BitMEX_Jack: dont see
[2016-11-02 09:30:42] UncleCreepy : how can 1 ZEC be worth 3 times more at polo?
[2016-11-02 09:30:42] arbitrage001 : maybe slow server
[2016-11-02 09:31:03] arbitrage001 : UncleCreepy: cuz people here want to give free money
[2016-11-02 09:31:04] BitMEX_Jack : u can chat your wechat again
[2016-11-02 09:31:11] BitMEX_Jack : check your wechat*
[2016-11-02 09:31:22] BitMEX_Jack : I have sent twice
[2016-11-02 09:31:32] wurstgelee : polo walling @ 1.5
[2016-11-02 09:31:41] wurstgelee : defending it for a while now
[2016-11-02 09:32:06] wurstgelee : CapitalGains: Round earnings est: 0.0782 ZEC
[2016-11-02 09:32:16] wurstgelee : was 0.1 a few minutes ago
[2016-11-02 09:32:23] wurstgelee : so..thats what i get per suprnove-mined block
[2016-11-02 09:32:29] wurstgelee : *suprnova
[2016-11-02 09:32:50] BitMEX_Jack : For the rest of the people, if u do not want to disclose your information in public, u may send an email to support@bitmex.com and request for a wechat & QQ group invitation, by stating your wechat & QQ id.
[2016-11-02 09:32:50] rapidtrades : man running a pool must be nice
[2016-11-02 09:33:08] rapidtrades : getting a % without doing much
[2016-11-02 09:33:18] arbitrage001 : BitMEX_Jack: not sure what happen. but i dont get notification on wechat
[2016-11-02 09:33:28] l3f : This volume must be fucking minscicue on ZEC
[2016-11-02 09:33:53] BitMEX_Jack : arbitrage001: Send an email to support@bitmex.com then, we will handle your request.
[2016-11-02 09:34:01] arbitrage001 : BitMEX_Jack: ok
[2016-11-02 09:34:16] rapidtrades : ok we're moving
[2016-11-02 09:34:37] arbitrage001 : BitMEX_Jack: by the way, it is arbitrage0001
[2016-11-02 09:34:39] arbitrage001 : with extra 0
[2016-11-02 09:34:56] arbitrage001 : the double 0 one, i forgot the password and change my phone number
[2016-11-02 09:35:07] BitMEX_Jack : arbitrage001: Oh I see it, Added u
[2016-11-02 09:35:26] arbitrage001 : got it this time
[2016-11-02 09:35:36] CapitalGains : I haven't seen a 55 ZEC order for a while
[2016-11-02 09:35:55] CapitalGains : Aside from liquidations
[2016-11-02 09:36:52] CapitalGains : wurstgelee: It's not you is it with that 55 bid? ;)
[2016-11-02 09:37:05] rapidtrades : wooo 55 bid
[2016-11-02 09:37:06] arbitrage001 : crap, why is zec price going up
[2016-11-02 09:37:15] arbitrage001 : i like my bid at 0.1 filled
[2016-11-02 09:37:17] rapidtrades : why? cos it's awesome
[2016-11-02 09:37:44] RocketScience : 1 usd spammer bot on usd swap
[2016-11-02 09:37:54] RocketScience : obfuscating and shit
[2016-11-02 09:39:00] rapidtrades : i think sleger is getting in the same now
[2016-11-02 09:39:05] rapidtrades : game*
[2016-11-02 09:39:25] RocketScience : what will he do?
[2016-11-02 09:39:40] rapidtrades : well u see with the 55 bid at 0.4
[2016-11-02 09:41:14] rapidtrades : sleger is mad now
[2016-11-02 09:41:45] CapitalGains : What makes you think it's him?
[2016-11-02 09:41:54] Kahir : woo
[2016-11-02 09:41:57] Kahir : whale on zcash ?
[2016-11-02 09:42:00] Kahir : zooko ?
[2016-11-02 09:42:59] wurstgelee : CapitalGains: 55 bid?
[2016-11-02 09:43:02] wurstgelee : nicehash?
[2016-11-02 09:43:11] wurstgelee : no. fixed orders ~ .3
[2016-11-02 09:43:11] CapitalGains : 44 bid
[2016-11-02 09:43:16] wurstgelee : or here?
[2016-11-02 09:43:17] CapitalGains : *55
[2016-11-02 09:43:25] wurstgelee : lol :)
[2016-11-02 09:43:52] wurstgelee : i roll with fixed orders. cba to deal with others outbidding me
[2016-11-02 09:44:07] wurstgelee : too much annoyance
[2016-11-02 09:44:44] wurstgelee : polo 1.65
[2016-11-02 09:44:49] CapitalGains : If these bidders area serious and don't plan to pull out, they could do a lot of damage to the short end of the order book
[2016-11-02 09:44:57] wurstgelee : adding more btc to the orders
[2016-11-02 09:45:03] wurstgelee : seems like a bargain atm ;9
[2016-11-02 09:45:45] rapidtrades : ahahaha 20 more
[2016-11-02 09:46:06] UncleCreepy : hahaha
[2016-11-02 09:46:14] rapidtrades : could be shorts closing
[2016-11-02 09:46:27] rapidtrades : gl with that if u are :)
[2016-11-02 09:46:33] wurstgelee : :D :D :D
[2016-11-02 09:46:36] wurstgelee : such fun
[2016-11-02 09:47:00] wurstgelee : maybe aethlios trying to get out
[2016-11-02 09:47:02] wurstgelee : no clue
[2016-11-02 09:47:35] UncleCreepy : guys im just a little fish getting in the game
[2016-11-02 09:47:41] CapitalGains : No he was at 0.35 with only 10 iirc
[2016-11-02 09:48:11] UncleCreepy : if i understand it good than its not possible to buy ZEC over here and sell it on polo?
[2016-11-02 09:48:26] wurstgelee : UncleCreepy: yes.
[2016-11-02 09:48:28] CapitalGains : Correct: it's not possible, otherwise it would have been done long ago
[2016-11-02 09:48:47] UncleCreepy : hahaha ok
[2016-11-02 09:48:51] wurstgelee : we dont trade ZEc here, we trade ZEC futures
[2016-11-02 09:48:55] aethlios : it's not me.
[2016-11-02 09:48:59] arbitrage001 : i am a pussy
[2016-11-02 09:49:05] arbitrage001 : will bid at 0.35
[2016-11-02 09:49:14] wurstgelee : aethlios: wasnt serious tbh ;)
[2016-11-02 09:49:31] UncleCreepy : Broski what are ZEC features?
[2016-11-02 09:49:41] rapidtrades : it's aethlios
[2016-11-02 09:50:26] rapidtrades : there are 4 big walls 40-30
[2016-11-02 09:50:33] rapidtrades : were they always there
[2016-11-02 09:50:44] wurstgelee : pump it polo, pump it... ;)
[2016-11-02 09:50:48] thomaskikansha : newly added ones?
[2016-11-02 09:51:03] arbitrage001 : 0.35 one is mine
[2016-11-02 09:51:12] yerb : XBT swap lost all premium, why is that?
[2016-11-02 09:51:14] arbitrage001 : just trying to play mind games with short
[2016-11-02 09:51:18] wurstgelee : excellent.
[2016-11-02 09:51:20] wurstgelee : 1.69
[2016-11-02 09:51:25] rapidtrades : yerb: funding
[2016-11-02 09:51:25] wurstgelee : MOAR HASHES
[2016-11-02 09:51:26] arbitrage001 : go baby,
[2016-11-02 09:51:27] wurstgelee : :)
[2016-11-02 09:51:29] arbitrage001 : pump to 5btc
[2016-11-02 09:51:42] arbitrage001 : will surely scare the crap out of short
[2016-11-02 09:51:48] yerb : rapidtrades: in 2 hours?
[2016-11-02 09:51:49] CapitalGains : If these 55 and 22 guys market buy, will be above 1 BTC here too
[2016-11-02 09:51:56] micmix : yerb: pump is over, longs don't want to pay 0.375%
[2016-11-02 09:52:08] rapidtrades : yerb: we had a few max 0.375 and two more coming
[2016-11-02 09:52:23] arbitrage001 : rapidtrades: also shorting btc for the funding here
[2016-11-02 09:52:24] yerb : shit
[2016-11-02 09:53:01] rapidtrades : arbitrage001: yeah been short here for few days now but long overall
[2016-11-02 09:53:23] arbitrage001 : not sure why anyone even want to trade if they can get 1% a day
[2016-11-02 09:53:29] CapitalGains : Is that it? no more pump whales?
[2016-11-02 09:53:34] yerb : so if china pumps again, everybody will go long again?
[2016-11-02 09:53:49] rapidtrades : yerb: yes, if
[2016-11-02 09:54:10] arbitrage001 : i dont think the china crowd is in zcash yet
[2016-11-02 09:54:13] RocketScience : woodchipper time xD
[2016-11-02 09:54:30] arbitrage001 : zcash is mostly expose by western and english meda
[2016-11-02 09:54:33] arbitrage001 : media
[2016-11-02 09:54:43] arbitrage001 : as soon as our chinese overlord notice
[2016-11-02 09:54:49] arbitrage001 : who know how far they will pump
[2016-11-02 09:55:02] arbitrage001 : remember, they pump btc from 100usd to over 1200usd before
[2016-11-02 09:55:08] micmix : arbitrage001: you can get 1% a day for a day then premium goes down, it's not sustainable
[2016-11-02 09:55:49] arbitrage001 : micmix: yes, but will take it as long as i can
[2016-11-02 09:56:04] rapidtrades : arbitrage001: we need big chinese sites to trade it tho
[2016-11-02 09:56:17] arbitrage001 : rapidtrades: it will eventually
[2016-11-02 09:56:35] arbitrage001 : imagine okcoin and the next big 2 exchanges in china add them
[2016-11-02 09:57:04] rapidtrades : :)
[2016-11-02 09:57:29] rapidtrades : okc add would pump it to 5 :)
[2016-11-02 09:57:39] aethlios : why do you focus now on dead zec and not to the KIng???
[2016-11-02 09:58:08] rapidtrades : zec=1.6 btc, is king
[2016-11-02 09:58:10] wurstgelee : aethlios: its possible to do both ;)
[2016-11-02 09:58:22] micmix : okc didn't add eth when it was at peek hype, I doubt they will add zec
[2016-11-02 09:58:30] CapitalGains : That was an incredibly short-lived pump by the 20 and 55 order guys
[2016-11-02 09:59:11] micmix : * peak hype
[2016-11-02 09:59:36] rapidtrades : not there yet m8 :)
[2016-11-02 09:59:39] wurstgelee : micmix: ppek hype is funnier ;)
[2016-11-02 09:59:43] wurstgelee : peek
[2016-11-02 09:59:52] micmix : lol
[2016-11-02 10:00:00] RocketScience : zec will never be as interesting as in the first day :D
[2016-11-02 10:00:17] micmix : autocorrect ftw
[2016-11-02 10:00:20] aethlios : zec founders will receive 2,1 mill coins in 4 years, with 30 usd average price btc holders will fund them with 63 million to have a nice life and fund new zcash fancy scams.
[2016-11-02 10:00:21] wurstgelee : :D
[2016-11-02 10:00:40] wurstgelee : *yawn* ..so 4 years?
[2016-11-02 10:00:48] wurstgelee : better dump everything now
[2016-11-02 10:00:48] wurstgelee : :P
[2016-11-02 10:02:22] aethlios : my last 5 shorts at 0,35, offering you a bargain short entry.
[2016-11-02 10:06:03] sally : lol noobs keep coming here and think they can arb ZEC
[2016-11-02 10:06:19] l3f : ZEC is a fucking pain train
[2016-11-02 10:06:29] l3f : don't ride the ZEC unless you got balls
[2016-11-02 10:06:32] sally : when they realise they cant withdraw its so confusing
[2016-11-02 10:06:43] l3f : three years old and already being manipulated
[2016-11-02 10:06:47] l3f : days*
[2016-11-02 10:06:55] wurstgelee : "already"?
[2016-11-02 10:07:08] l3f : -7 days old and was already manipulated
[2016-11-02 10:07:17] wurstgelee : when would you manipulate a coin if not while one low supply?
[2016-11-02 10:07:24] wurstgelee : *on
[2016-11-02 10:08:46] RocketScience : china bless us with a exit before funding
[2016-11-02 10:09:43] RocketScience : China has heard my call!!!
[2016-11-02 10:09:53] RocketScience : to the moon
[2016-11-02 10:10:45] wurstgelee : haha
[2016-11-02 10:11:03] RocketScience : bitmexit xD
[2016-11-02 10:11:28] wurstgelee : damn, i accidentally shorted z16
[2016-11-02 10:11:32] wurstgelee : wrong contract
[2016-11-02 10:11:33] wurstgelee : oO
[2016-11-02 10:11:51] RocketScience : no funding for you xD
[2016-11-02 10:12:04] wurstgelee : yep
[2016-11-02 10:12:05] rapidtrades : i see a pattern ...
[2016-11-02 10:12:12] RocketScience : enlighten us
[2016-11-02 10:12:26] RocketScience : wait with your short
[2016-11-02 10:12:30] RocketScience : it will try to recover
[2016-11-02 10:12:40] wurstgelee : aand i bailed
[2016-11-02 10:13:04] RocketScience : panic to the upside D:
[2016-11-02 10:13:19] micmix : wurstgelee: MM thanks you for your money ;-)
[2016-11-02 10:13:25] wurstgelee : micmix: np ;)
[2016-11-02 10:13:27] wurstgelee : hehe
[2016-11-02 10:13:48] wurstgelee : i chose the cheap exit over risk in that case ;)
[2016-11-02 10:14:53] RocketScience : my prayers are being answered haha
[2016-11-02 10:15:06] wurstgelee : RocketScience: yes
[2016-11-02 10:16:41] CapitalGains : If I accidentally shorted I would close immediately too
[2016-11-02 10:17:19] wurstgelee : good decision so far
[2016-11-02 10:18:30] RocketScience : i wish bitstamp was as liquid as 0kcoin
[2016-11-02 10:20:27] CapitalGains : Are those bots I see changing their orders instantly here on ZEC?
[2016-11-02 10:31:06] sally : anyone thinking zec will be over 1btc or anywhere near december needs to reconsider crypto career
[2016-11-02 10:34:11] kradiav : sally: do send away our customers :P
[2016-11-02 10:34:24] kradiav : don't*
[2016-11-02 10:38:29] sally : lol sorry
[2016-11-02 10:38:49] sally : Zec is actually a perfect buy for easy profit at this level
[2016-11-02 10:38:57] sally : its a no brainer
[2016-11-02 10:39:08] CapitalGains : There we go!
[2016-11-02 10:42:08] CapitalGains : Cheers folks, I'm going to call ZEC trading a day until it reaches 0.1 (it's been good while it's lasted, but my actual work is suffering). Have fun!
[2016-11-02 10:45:02] wurstgelee : sally: welcome to the club of people who know ;)
[2016-11-02 10:45:24] rapidtrades : sally so smart right now
[2016-11-02 10:58:03] sally : what is btc doing tonight
[2016-11-02 10:58:27] sally : looks like it will shed some gains
[2016-11-02 11:21:51] seafood : Would anyone be willing to teach a newbie about how futures contracts work?
[2016-11-02 11:22:08] seafood : I find the documentation a little too jargon laden
[2016-11-02 11:22:30] BitMEX_Wally : seafood: They work very well
[2016-11-02 11:22:48] seafood : I'm sure they do. Are you a bot?
[2016-11-02 11:23:05] BitMEX_Wally : Haha, I'm one of the co-founders
[2016-11-02 11:23:12] seafood : Okay, sorry.
[2016-11-02 11:23:45] BitMEX_Wally : We have a testnet environment if you would like to play around without using real money: https://testnet.bitmex.com
[2016-11-02 11:23:46] seafood : So, this is the first time I've thought about trading futures. I think I understand what an option is, but I really don't get futures fully yet.
[2016-11-02 11:24:05] seafood : BitMEX_Wally: That is fantastic! I will do that for sure!
[2016-11-02 11:24:52] seafood : But would you be willing to run through some of the basics with me?
[2016-11-02 11:25:05] BitMEX_Wally : seafood: Our futures are cash settled, so they are similar to trading the underlying coin, and you get your PNL in Bitcoin
[2016-11-02 11:25:13] seafood : I realise that's a lot to ask since you have so many customers on here.
[2016-11-02 11:25:26] ytaews : seafood: do you mean futures on this website or futures generally?
[2016-11-02 11:25:35] seafood : This website, but also in general.
[2016-11-02 11:26:05] ytaews : So in general you're agreeing to buy or sell a certain amount of something at a date in the _future_
[2016-11-02 11:26:13] seafood : So, I'm looking at the ZECZ16 orderbook at the moment.
[2016-11-02 11:26:24] ytaews : ok
[2016-11-02 11:26:37] BitMEX_Wally : Futures can be physically settled (when the contract expires the long pays cash and the short delivers the product) or cash settled (long receives PNL between entry price and settlement price)
[2016-11-02 11:26:40] seafood : What I find strange is that the current price of ZEC is 1.60 and yet the last traded price on the contract is 0.402765
[2016-11-02 11:26:42] BitMEX_Wally : All our futures are cash settled, using Bitcoin
[2016-11-02 11:26:59] seafood : Say, I think the that ZEC is going to go down from 1.60. Which contract do I buy?
[2016-11-02 11:27:07] ytaews : seafood: what that means is that the market 'expects' the price of ZEC to go down
[2016-11-02 11:27:20] ytaews : the market expects that the price of ZEC in december will be around 0.4
[2016-11-02 11:27:26] BitMEX_Wally : seafood: You would sell ZECZ16 but everyone expects that too which is why it is trading at 0.40
[2016-11-02 11:27:35] seafood : Got it.
[2016-11-02 11:27:57] BitMEX_Wally : There is no way to borrow ZEC and short it on the spot market, hence why its price is high at 1.60
[2016-11-02 11:28:57] seafood : Sure. But could I make a profit, theoretically, with a couple of days on the ZECZ16 market?
[2016-11-02 11:29:08] seafood : And what would have to happen for that to happen?
[2016-11-02 11:29:27] BitMEX_Wally : Sure, buy low sell high
[2016-11-02 11:29:29] BitMEX_Wally : Or sell high buy low
[2016-11-02 11:29:38] BitMEX_Wally : 1 contract of ZECZ16 is worth 1 ZEC, and if you hold the position until 30 December 2016 then your position will be closed out at the settlement price which will be determined by looking at the ZEC market on Poloniex
[2016-11-02 11:29:42] ytaews : people's expectations of the price in December would need to change
[2016-11-02 11:29:52] seafood : e.g. Say I buy a contract right now at, say 0.4
[2016-11-02 11:30:03] seafood : What happens if the price of ZEC drops from 1.6 to 1.2
[2016-11-02 11:30:10] seafood : Does that give me anything?
[2016-11-02 11:30:17] ytaews : not directly
[2016-11-02 11:30:20] RocketScience : BitMEX_Wally: Lisk getting delisted on 4th?
[2016-11-02 11:30:26] BitMEX_Wally : RocketScience: Yes
[2016-11-02 11:30:29] ytaews : it might change people's expectations of what the price will be in December
[2016-11-02 11:30:31] RocketScience : beofre the pump? :(
[2016-11-02 11:30:34] RocketScience : haha
[2016-11-02 11:30:50] BitMEX_Wally : seafood: If the price is 1.2 on 30 December and you went long 1 contract at 0.40 then you will make 0.80 profit
[2016-11-02 11:30:51] sally : if we think december close looks under .4 then we will sell it harder
[2016-11-02 11:31:08] seafood : BitMEX_Wally: People sell contracts before the closing day, right?
[2016-11-02 11:31:18] seafood : How do they make a profit when they do that?
[2016-11-02 11:31:21] sally : if we think it close at 1btc then we buy it up
[2016-11-02 11:31:21] BitMEX_Wally : seafood: They can sell whenever but no harm in holding until expiry
[2016-11-02 11:31:36] BitMEX_Wally : If you buy at 0.40 now and sell at 0.60 next week then you make 0.20
[2016-11-02 11:31:46] seafood : sally: And what price would you buy it at?
[2016-11-02 11:32:06] seafood : How do I buy a contract at 0.40 but then get someone to pay 0.60 for it?
[2016-11-02 11:32:13] sally : seafood: I wouldn't
[2016-11-02 11:32:19] ytaews : if I knew the answer to that, I wouldn't tell you
[2016-11-02 11:32:25] sally : ytaews: lol
[2016-11-02 11:32:28] seafood : Hahaha.
[2016-11-02 11:32:44] BitMEX_Wally : seafood: The simplest way to think about it is to treat ZECZ16 as a coin with its own value. It goes up and down and its value will eventually converge to ZEC at the end of December
[2016-11-02 11:32:51] sally : seafood: put a buy at .4 and I will sell to you
[2016-11-02 11:33:29] seafood : sally: Ah, so I'm assuming you think it worth less than 0.4 in December?
[2016-11-02 11:33:32] seafood : (or is it the other way around?)
[2016-11-02 11:33:52] BitMEX_Wally : seafood: You would be long, he would be short
[2016-11-02 11:33:54] sally : seafood: im just a mug trying to take advantage of you
[2016-11-02 11:34:11] Formiga : BitMEX_Wally: Is there any way to turn off the purple line price indicator on charts?
[2016-11-02 11:34:12] sally : dont listen to anything I say in here, ever
[2016-11-02 11:34:22] BitMEX_Wally : If the price of ZEC doubles tomorrow, then it's likely the price of ZECZ16 will go up too, so the value of ZECZ16 is heavily affected by the underlying coin
[2016-11-02 11:34:28] seafood : sally: Don't worry I'll take you with a grain of salt
[2016-11-02 11:34:40] BitMEX_Wally : Formiga: Right click on charts choose 'Objects Tree' then click 'X' on `.ZECXBT`
[2016-11-02 11:35:47] rapidtrades : BitMEX_Wally: wally what's the reasoning behind keeping the 10 cap still? why not remove it regardless of whether we're marked to polo
[2016-11-02 11:36:02] Formiga : BitMEX_Wally: thank you
[2016-11-02 11:36:14] seafood : Okay, thanks everyone you've been somewhat helpful. Thanks.
[2016-11-02 11:36:17] BitMEX_Wally : rapidtrades: Basically we'll remove the cap when we move to fair price marking because then we only need to send out 1 email announcement rather than 2.
[2016-11-02 11:36:21] seafood : I'm going to try my hand on the testnet.
[2016-11-02 11:36:28] BitMEX_Wally : rapidtrades: I've already moved the maxPrice from 10 XBT to 100 XBT in testnet
[2016-11-02 11:37:50] seafood : So, one more question to the crowd
[2016-11-02 11:37:57] seafood : Price is currently 1.6
[2016-11-02 11:38:11] seafood : If the price was 0.4 in December then you would make quite a bit of profit, right?
[2016-11-02 11:38:22] BitMEX_Wally : Yes
[2016-11-02 11:38:23] seafood : Does everyone make that who bought a contract?
[2016-11-02 11:38:46] BitMEX_Wally : Everyone who is long on 30 December will have their position sold at the settlement price i.e. 1.6 in this example
[2016-11-02 11:39:05] BitMEX_Wally : So everyone long will make qty x 1.6 - avgEntryPrice
[2016-11-02 11:39:25] seafood : It just seems to somehow not work. If everyone thinks the price is going down how can everyone profit?
[2016-11-02 11:39:29] seafood : I mean, where is the money coming from?
[2016-11-02 11:40:09] BitMEX_Wally : If the price of ZEC is 1.6 in December, then ZECZ16 will be 1.6 in December too
[2016-11-02 11:40:22] BitMEX_Wally : As the clock runs out, the futures price will converge on the spot price
[2016-11-02 11:40:42] wurstgelee : z16 here will settle on spot price @ dec 30
[2016-11-02 11:40:43] wurstgelee : ;)
[2016-11-02 11:40:45] BitMEX_Wally : seafood: The futures contract is zero-sum. For every long there is a short, for every profit there is a loss
[2016-11-02 11:40:54] Slashterix : or spot will converge on bitmex price ;)
[2016-11-02 11:40:56] seafood : Ah, thank you!
[2016-11-02 11:41:01] wurstgelee : Slashterix: lol....or that
[2016-11-02 11:41:03] wurstgelee : =)
[2016-11-02 11:41:07] seafood : So there are people who think it's worth more than 1.6 in December?
[2016-11-02 11:41:22] wurstgelee : probably even that
[2016-11-02 11:41:24] wurstgelee : 1.6 doesnt matter tho
[2016-11-02 11:41:31] wurstgelee : u can buy for .4 here
[2016-11-02 11:41:34] rapidtrades : doesn't have to be worth more :)
[2016-11-02 11:41:36] seafood : BitMEX_Wally: Are you saying that it can be hard to buy contracts?
[2016-11-02 11:41:43] wurstgelee : so u would have to thinkm its worth more than .4 @ dec 30
[2016-11-02 11:41:48] rapidtrades : even if it halves u still make 100%
[2016-11-02 11:41:49] seafood : I mean hard to find buyers?
[2016-11-02 11:41:49] BitMEX_Wally : There's an order book
[2016-11-02 11:41:54] wurstgelee : if u long there :)
[2016-11-02 11:42:02] BitMEX_Wally : There are bids and offers in the order book
[2016-11-02 11:42:07] wurstgelee : seafood: u dont need buyers for settlement
[2016-11-02 11:42:12] wurstgelee : or sellers etc..
[2016-11-02 11:42:12] BitMEX_Wally : You can take those prices, or you can place your own order for the order book
[2016-11-02 11:42:35] rapidtrades : ofc the variable is time...ur likely not gonna see that profit before dec
[2016-11-02 11:43:09] seafood : Okay, but this is where I get confused again. Let's go with a hypothetical situation where _everyone_ buys contracts for a price which is lower than the final price in December.
[2016-11-02 11:43:26] BitMEX_Wally : They have to buy the contracts from a seller
[2016-11-02 11:43:33] BitMEX_Wally : So for every long contract there is a short contract
[2016-11-02 11:43:58] rapidtrades : think of it this way...prices here are low cos 90% of ppl here are degen gamblers
[2016-11-02 11:44:02] seafood : Okay, so it _can_ be hard to get a contract if the counterpart doesn't exist.
[2016-11-02 11:44:20] wurstgelee : seafood: if no counterpart offers the contract at the price u desire.... ;)
[2016-11-02 11:44:23] wurstgelee : yep
[2016-11-02 11:44:32] wurstgelee : but thats not different to spot ;)
[2016-11-02 11:44:44] wurstgelee : u cant sell if noone wants to buy and vice versa
[2016-11-02 11:44:55] wurstgelee : @ the a given price
[2016-11-02 11:45:00] wurstgelee : *-a
[2016-11-02 11:49:12] TwinnerD : BitMEX_Wally: how often is the leaderboard updated?
[2016-11-02 11:49:22] BitMEX_Wally : TwinnerD: Once a day I think
[2016-11-02 11:50:54] TwinnerD : thank Wall-E
[2016-11-02 11:54:46] rapidtrades : 24hr Volume: 3654.82498529 BTC / 1929.02437568 ZEC
[2016-11-02 11:55:41] sleger : ok but the price is still too high
[2016-11-02 11:56:12] rapidtrades : :)
[2016-11-02 11:56:16] BitMEX_Wally : Nothing a -450% basis rate won't solve
[2016-11-02 11:56:44] TwinnerD : BitMEX_Wally: is there a way to disable the order amendement in chart? I like to space out and randomly click on my screen when I am bored
[2016-11-02 11:57:27] mrp1nk : sup
[2016-11-02 11:58:12] BitMEX_Wally : TwinnerD: I don't think so, but there is a `Warning: Order Amend May Execute` popup if you amend it to aggress
[2016-11-02 11:59:15] sleger : just dont randomly click on it
[2016-11-02 12:00:23] wurstgelee : lol
[2016-11-02 12:00:29] wurstgelee : such funding fun
[2016-11-02 12:00:30] wurstgelee : :D
[2016-11-02 12:00:33] TwinnerD : sleger: I lost about 50k$ in poker to stupid missclicks
[2016-11-02 12:00:36] rapidtrades : BitMEX_Wally: is the marking closer to days or weeks?
[2016-11-02 12:00:44] TwinnerD : I don't know to turn my brain farts off
[2016-11-02 12:01:07] wurstgelee : you dont. learn to live with them ;)
[2016-11-02 12:01:16] habibi : TwinnerD: why didn't u stop clicking after first stupid expensive click?
[2016-11-02 12:01:28] wurstgelee : haha
[2016-11-02 12:01:31] TwinnerD : habibi: that's not how people work
[2016-11-02 12:01:36] rapidtrades : tilted prolly
[2016-11-02 12:01:48] TwinnerD : habibi: have you ever played 16 tables 6max poker? ;)
[2016-11-02 12:02:15] habibi : TwinnerD: nope, i guess that's why i did not lost 50k on stupid missclicks
[2016-11-02 12:02:33] BitMEX_Wally : rapidtrades: months
[2016-11-02 12:03:01] wurstgelee : BitMEX_Wally: u serious?
[2016-11-02 12:03:11] sleger : of course
[2016-11-02 12:03:14] sleger : around dec 1st
[2016-11-02 12:03:21] wurstgelee : thats not months
[2016-11-02 12:03:31] sleger : maybe jan or feb even
[2016-11-02 12:03:47] sleger : and cap might be lower to 2.999999
[2016-11-02 12:04:09] rapidtrades : BitMEX_Wally: it's a srs q...cos if its a matter of weeks then remove the cap...its an unnecessary tail risk for both u and the traders
[2016-11-02 12:04:28] wurstgelee : "By 1 December 2016, we aim to announce the settlement exchange(s)."
[2016-11-02 12:04:32] wurstgelee : =)
[2016-11-02 12:04:42] sleger : "aim"
[2016-11-02 12:04:44] rapidtrades : with prices so much below, ppl can't be relying on it anymore
[2016-11-02 12:04:45] wurstgelee : lol
[2016-11-02 12:04:46] wurstgelee : wtf
[2016-11-02 12:04:50] wurstgelee : when did they add "aim"?
[2016-11-02 12:05:08] wurstgelee : this was a set date...
[2016-11-02 12:05:23] sleger : no because it's at discretion anyways
[2016-11-02 12:06:10] wurstgelee : let me check,..
[2016-11-02 12:07:30] BitMEX_Wally : It is very likely that we will choose Poloniex as the reference exchange on or before 1 December. No other exchange is more liquid
[2016-11-02 12:08:02] wurstgelee : BitMEX_Wally: tbh, noone really expected it to be any other exchange than polo, no? ;)
[2016-11-02 12:08:23] BitMEX_Wally : Yeah, but when we launched the contract Poloniex hadn't even confirmed it would list ZEC
[2016-11-02 12:08:30] wurstgelee : right
[2016-11-02 12:08:36] wurstgelee : noone had
[2016-11-02 12:08:38] wurstgelee : ;)
[2016-11-02 12:08:55] BitMEX_Wally : rapidtrades: No promises but we'll probably move to fair price marking within a week or so
[2016-11-02 12:09:25] BitMEX_Wally : rapidtrades: And given that spot is at 1.53 XBT I cannot believe you really are concerned about a 10 XBT price cap?
[2016-11-02 12:09:56] wurstgelee : not any more ;) but that cap got moved up to 100 anyways now?
[2016-11-02 12:10:11] rapidtrades : like i said it's a unnecessary tail risk....odds are prolly <5% but why risk it?
[2016-11-02 12:10:38] BitMEX_Wally : Risk for who? The longs?
[2016-11-02 12:11:14] rapidtrades : yes and for u as well...what if polo ralllies and stays above 10
[2016-11-02 12:11:29] BitMEX_Wally : Yeah and pigs might fly
[2016-11-02 12:13:38] kradiav : haha
[2016-11-02 12:14:43] wurstgelee : BitMEX_Wally: well.. i agree it wont happen...but u didnt expect the launch day happenings either ;)
[2016-11-02 12:14:48] wurstgelee : neither did i
[2016-11-02 12:20:07] rapidtrades : In financial markets low probability events happen more frequently and are much more severe then ppl expect
[2016-11-02 12:20:42] rapidtrades : seems like an unwise risk to take for saving 1 email...but its ur call
[2016-11-02 12:25:31] mrp1nk : prolly oldnews for some, but still https://www.ft.com/content/fc1f083d-ed79-3cc7-831c-3e16088a43c8
[2016-11-02 12:26:32] mrp1nk : paywall bypass: google BoC+pulls+back+from+Rmb+weakening+streak+with+stronger+fix
[2016-11-02 12:51:59] NL007 : hi
[2016-11-02 13:17:47] REKT : Liquidated long on `XBTZ16`: Sell 250 @ 761.66
[2016-11-02 13:26:48] NL007 : https://www.cryptocoinsnews.com/zcash-bug-prevents-private-transactions-soon-after-launch/
[2016-11-02 13:27:48] REKT : Liquidated long on `XBTUSD`: Sell 10 @ 724.18
[2016-11-02 13:27:57] martinium : sell Mortimer sell!
[2016-11-02 13:32:02] TwinnerD : I pussied out and closed the short at 0.38
[2016-11-02 13:32:11] TwinnerD : so stupid.. will be at 0.1 within a day I am sure
[2016-11-02 13:39:05] NL007 : zcash anon technology doesnt even work
[2016-11-02 13:39:33] NL007 : all the hype about nothing
[2016-11-02 13:39:36] NL007 : lol
[2016-11-02 13:41:45] RoftheN : What do you mean, it does'nt work?
[2016-11-02 13:41:46] wurstgelee : NL007: thats bullshit
[2016-11-02 13:42:08] kingkrung : about zecz16. If I spekulate the price will be lower than 0.38 btc at 30 Dez I will sell, eg short it. is this correct?
[2016-11-02 13:42:17] wurstgelee : kingkrung: yes. basically
[2016-11-02 13:42:23] NL007 : kingkrung: yes
[2016-11-02 13:42:27] wurstgelee : you should have enough margin tho
[2016-11-02 13:42:41] wurstgelee : to not get margin called on random doubles here ;)
[2016-11-02 13:42:44] NL007 : RoftheN: https://www.cryptocoinsnews.com/zcash-bug-prevents-private-transactions-soon-after-launch/
[2016-11-02 13:42:59] kingkrung : I now margin trading from polo. ok thanks
[2016-11-02 13:43:27] wurstgelee : NL007: thats been already adressed.
[2016-11-02 13:43:35] REKT : Liquidated short on `LSKXBT`: Buy 40000 @ 0.000268
[2016-11-02 13:43:38] wurstgelee : tehre is a workaround which works with 1.0.0
[2016-11-02 13:43:51] wurstgelee : also 1.0.1 will fix it permanently
[2016-11-02 13:44:00] wurstgelee : its now flaw in concept, its a small bug, nothing else
[2016-11-02 13:44:04] wurstgelee : *no
[2016-11-02 13:44:33] habibi : lol@funding rate on lisk, probaly u all already noticed that anyway :p
[2016-11-02 13:44:45] wurstgelee : :D
[2016-11-02 13:44:47] wurstgelee : yep
[2016-11-02 13:45:35] TwinnerD : ZEC fucks me again. I close and it tanks
[2016-11-02 13:45:41] sleger : tiny pos but made 0.6btc there
[2016-11-02 13:45:55] NL007 : sleger: nice
[2016-11-02 13:45:58] habibi : yep, hard to open bigger position there
[2016-11-02 13:46:52] Rado : TwinnerD: What do you mean it tanks?
[2016-11-02 13:46:58] Rado : it's 0.38
[2016-11-02 13:47:03] TwinnerD : Rado: did you see the big red dildo on polo?
[2016-11-02 13:47:05] Rado : I closed at 0.31
[2016-11-02 13:47:13] Rado : yesterday
[2016-11-02 13:47:19] Rado : so it's up :-)
[2016-11-02 13:47:46] RoftheN : ZEC never seems to hit my orders :(
[2016-11-02 13:47:52] Rado : I don't see it
[2016-11-02 13:48:28] sleger : someone sold into the 32k liq going to pay 3% funding, good job
[2016-11-02 13:48:38] wurstgelee : sleger: :D :D
[2016-11-02 13:48:41] NL007 : i bought another zec short
[2016-11-02 13:48:46] wurstgelee : someone didnt notice the "-" ... ;)
[2016-11-02 13:48:53] sleger : NL007: I sold another zec long
[2016-11-02 13:48:57] Rado : sleger: which contract?
[2016-11-02 13:48:59] NL007 : i hope it hits 0.3 again
[2016-11-02 13:49:03] sleger : lisk
[2016-11-02 13:49:12] wurstgelee : NL007: we all do ;)
[2016-11-02 13:49:26] Rado : wow
[2016-11-02 13:49:29] Rado : up to 3%
[2016-11-02 13:49:33] Rado : crazy
[2016-11-02 13:49:41] Rado : LSK already up 30%
[2016-11-02 13:49:41] wurstgelee : NL007: needs a few orders @ 38 to get filled first