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

<<  >>  English  中文  Русский  한국어  日本語  Español  Français 
[2016-12-28 01:57:37] MikeHunt : okcoin is where its at
[2016-12-28 01:57:53] MikeHunt : huobi is like china's bitstamp
[2016-12-28 01:58:25] narnarfromnarnia : wait for the 100k sell wall and short about 10 dollars above that after its all rekts to pieces
[2016-12-28 01:58:39] dodic : bizarro world
[2016-12-28 01:58:45] happy : ex: price of huobi went up ¥10, No change here. Does that mean buy here?
[2016-12-28 01:59:12] dodic : lol bots fidgeting
[2016-12-28 01:59:19] dodic : sharky market makers
[2016-12-28 02:01:18] MikeHunt : triangle? up?
[2016-12-28 02:01:33] halloz : When she orgasms - it's going to be the most spectacular thing of the year.
[2016-12-28 02:02:09] MikeHunt : buyometer is up
[2016-12-28 02:02:19] MrRGnome : halloz: If she only orgasms once a year you aren't treating her right
[2016-12-28 02:02:24] l3f : dip buyers strong
[2016-12-28 02:02:34] halloz : lol
[2016-12-28 02:03:28] MrRGnome : I need to pop, nobody buy or sell anything without me
[2016-12-28 02:03:29] MikeHunt : triangle up!
[2016-12-28 02:03:30] MrRGnome : tell china
[2016-12-28 02:03:31] happy : wow another day high coming
[2016-12-28 02:03:37] MrRGnome : *poop
[2016-12-28 02:03:53] MikeHunt : dont worry, like with constapation, its coming out one way or another
[2016-12-28 02:04:12] der : GO CHINA
[2016-12-28 02:04:36] MrRGnome : false alarm, just a weighty fart
[2016-12-28 02:04:39] MrRGnome : proceed china
[2016-12-28 02:04:48] happy : Anyone know how to use bots?
[2016-12-28 02:05:05] MrRGnome : use which bot, or do you mean make bots?
[2016-12-28 02:05:05] dodic : hey mods the mean market maker is pulling bids, *cries*
[2016-12-28 02:05:13] m3s : just noticed i didnt cancel my sell at 937 when going to bed. got hit with FOMO hard
[2016-12-28 02:05:49] dodic : actually i guess it would be pulling *asks*
[2016-12-28 02:06:10] MikeHunt : green dildo to 6890 and we win
[2016-12-28 02:06:14] MikeHunt : nearly there
[2016-12-28 02:06:29] MrRGnome : MikeHunt: the btc price is over $950, we've already won. I'm celebrating
[2016-12-28 02:06:43] MrRGnome : Even if we lose $150 from here and sit at the $800 trend line I am super pleased
[2016-12-28 02:06:59] ayy_lmao : this funding lmao
[2016-12-28 02:07:44] MrRGnome : ayyy lmao
[2016-12-28 02:07:46] MikeHunt : MrRGnome: i made ~$50 today so i dont want to loose it
[2016-12-28 02:07:48] happy : let's push this to a new high lol
[2016-12-28 02:07:50] shery : china new high in 3 21
[2016-12-28 02:07:59] shery : what a morning , when you have order fill at 927
[2016-12-28 02:08:18] dodic : this just in china done broke, btc to 10k
[2016-12-28 02:08:53] happy : oops
[2016-12-28 02:09:11] shery : 0mg 0.37 wtf
[2016-12-28 02:09:28] happy : 0.375
[2016-12-28 02:09:37] dodic : hahaha yeah
[2016-12-28 02:09:51] shery : This isnt fair
[2016-12-28 02:09:54] dodic : the fee reckoning
[2016-12-28 02:10:02] shery : so much high fees\
[2016-12-28 02:10:07] dodic : fundeckoning
[2016-12-28 02:10:35] happy : ooops
[2016-12-28 02:10:46] m3s : i didnt cancel my sell at 937 before going to bed, I was fucking sure I did :'(
[2016-12-28 02:11:03] dodic : gonna be fun to see if the rise in btc can outmatch the selling pressure at swap
[2016-12-28 02:11:47] dodic : spooooooky
[2016-12-28 02:12:32] l3f : shery: funding
[2016-12-28 02:12:33] l3f : not fees
[2016-12-28 02:12:34] MrRGnome : bitstamp is falling pretty far behind
[2016-12-28 02:12:35] l3f : :^)
[2016-12-28 02:13:40] javierstone : MrRGnome: what if i told you bitstamp didn't even exist
[2016-12-28 02:14:40] happy : what is a best price to buy
[2016-12-28 02:14:46] sleger : ]]]]]]]]]]]]]]]]]]
[2016-12-28 02:14:58] dodic : holy moly i can't predict anything here
[2016-12-28 02:15:13] dodic : chop chop chop
[2016-12-28 02:15:47] narnarfromnarnia : seems like no liq's hit
[2016-12-28 02:15:56] narnarfromnarnia : so let more shorts open up perhaps
[2016-12-28 02:16:11] shery : narnarfromnarnia: short or long?
[2016-12-28 02:16:21] narnarfromnarnia : shery: down from here possibly
[2016-12-28 02:16:26] MrRGnome : looks like we might enter a short term consolidation inn this area
[2016-12-28 02:16:27] narnarfromnarnia : shorted 954
[2016-12-28 02:16:44] shery : narnarfromnarnia: I will enter at possibly a bit higher to short as funding is near and we will slide down
[2016-12-28 02:16:52] happy : buy????????
[2016-12-28 02:17:03] memes : check the woodchipper
[2016-12-28 02:17:04] MrRGnome : going to be a bump on this exchange post funding I wager
[2016-12-28 02:17:22] halloz : okc crawling up
[2016-12-28 02:17:28] arbitrage001 : nice funding
[2016-12-28 02:17:31] arbitrage001 : keep it up
[2016-12-28 02:17:39] dodic : totally a game of chicken funding vs btc pop
[2016-12-28 02:17:45] dodic : so much drama!
[2016-12-28 02:18:01] memes : thos prices on cny exchanges cant be right, they are like 40$ above the other
[2016-12-28 02:18:03] shery : ysterday btcoin ukmp at time of funding created a big drama
[2016-12-28 02:18:12] happy : drama
[2016-12-28 02:18:17] narnarfromnarnia : that was me
[2016-12-28 02:18:22] narnarfromnarnia : shery you're right
[2016-12-28 02:18:25] dodic : *drama*
[2016-12-28 02:18:26] narnarfromnarnia : we haven't hit rekts
[2016-12-28 02:18:30] happy : tired at watching this
[2016-12-28 02:18:31] narnarfromnarnia : and funding is 1hr
[2016-12-28 02:18:33] narnarfromnarnia : really high
[2016-12-28 02:18:46] narnarfromnarnia : but short squeeze here could really increase position
[2016-12-28 02:19:07] MrRGnome : the $40 dollar price disparity is intense
[2016-12-28 02:19:12] happy : Fading is super super high right?
[2016-12-28 02:19:16] happy : Funding
[2016-12-28 02:19:17] MrRGnome : this thing could snap at any point
[2016-12-28 02:19:30] narnarfromnarnia : MrRGnome: are you short from here?
[2016-12-28 02:19:40] halloz : wow china
[2016-12-28 02:19:40] MrRGnome : I'm simply holding BTC, not leveraged at all
[2016-12-28 02:19:43] happy : If I have 1btc, and I Sell 100btc contract, I will get .375 btc
[2016-12-28 02:19:43] MrRGnome : Wiating for a window to short
[2016-12-28 02:19:51] MrRGnome : I don't think this is it yet
[2016-12-28 02:19:52] halloz : just wow
[2016-12-28 02:19:55] dodic : *game theory*
[2016-12-28 02:20:18] dodic : *a study on future trading on bitmex*
[2016-12-28 02:20:33] MrRGnome : happy: Yes Happy, but then the price will move up 2 dollars the second funding is done and you will lose 1.375 btc
[2016-12-28 02:21:03] sleger : he wont be happy anymore
[2016-12-28 02:21:15] dodic : hah
[2016-12-28 02:21:25] dodic : happy == sad
[2016-12-28 02:21:31] happy : lol
[2016-12-28 02:21:35] REKT : Liquidated short on `XMR7D`: buy 1058 @ 0.013358
[2016-12-28 02:21:40] dodic : the logical system is inconsistent, the universe collapses
[2016-12-28 02:21:50] l3f : sleger: how much funding are you collecting? must be making bank
[2016-12-28 02:21:58] sleger : not that much
[2016-12-28 02:21:58] l3f : these are usury rates
[2016-12-28 02:22:02] sleger : like 5 btc per day
[2016-12-28 02:22:08] l3f : dayam
[2016-12-28 02:22:31] sleger : funding is not high enough, the swap doesnt even trade at mark
[2016-12-28 02:22:54] MrRGnome : funding is a horrible emchanism for getting price to match mark
[2016-12-28 02:23:20] sleger : whats stupid is that its capped by leverage
[2016-12-28 02:23:26] sleger : the more leverage the lower the cap
[2016-12-28 02:23:29] arbitrage001 : yes
[2016-12-28 02:23:29] sleger : how stupid is that
[2016-12-28 02:23:37] arbitrage001 : 3% a day would be nice
[2016-12-28 02:23:45] arbitrage001 : i quit trading and leech on funding
[2016-12-28 02:24:04] arbitrage001 : actually, i am already doing that at 1% a day
[2016-12-28 02:24:23] arbitrage001 : guess i am cheap
[2016-12-28 02:24:26] MrRGnome : I don't think it's stupid that it's capped, I think it's stupid it exists. If it wasn't capped it would be even worse for casual users who would be just feeding you with no appreciation that the funding rate could go from 0 to 3% overnight
[2016-12-28 02:24:27] happy : Funding is only for BitMex or all the trading website has it?
[2016-12-28 02:24:47] MrRGnome : It would be amazing from your perspective if it wasn't capped, but it would screw the people you make money off of
[2016-12-28 02:24:54] MikeHunt : another potential up triangle
[2016-12-28 02:25:44] sleger : MrRGnome: what do you want instead ?
[2016-12-28 02:25:46] m3s : is this thing gonna retrace or what
[2016-12-28 02:25:56] MikeHunt : m3s: its going down
[2016-12-28 02:25:56] MrRGnome : I like futures instead of swap
[2016-12-28 02:25:58] BitMEX_Greg : Hi guys, seeing some questions about the Funding Rate pop up. I'm here to help if you have any questions just @ me. Just FYI, the funding rate is exchanged between longs and shorts only. BitMEX does not take any part of it, hence it is not a fee. If you are short then you will earn this rate
[2016-12-28 02:25:58] l3f : m3s: it doesn't retrace
[2016-12-28 02:26:17] MikeHunt : m3s: going down but im going by 1min time
[2016-12-28 02:26:23] firecasey : trying to get 5 btc tonight just to short this
[2016-12-28 02:26:24] m3s : l3f: i know!! need to get in since I fucked up my 905 long
[2016-12-28 02:26:27] MrRGnome : I just think if you're going to have swap, it makes sense to acknowledge it cna be exploitive and cap the damage it can do
[2016-12-28 02:26:29] shery : l3f: such a strong supporter of bitcoin bull
[2016-12-28 02:26:43] l3f : shery: because I haven't lost money just buying and holding
[2016-12-28 02:26:54] l3f : which is why I advice you to avoid shorting if possible
[2016-12-28 02:27:02] shery : l3f: well you have prooved correct
[2016-12-28 02:27:07] MikeHunt : is there a PnL calculator?
[2016-12-28 02:27:20] l3f : MikeHunt: right next to the place order calculator
[2016-12-28 02:27:25] MrRGnome : calculator icon adjacent to "place Order" white text, top left
[2016-12-28 02:27:25] shery : l3f: I have maid good amount via shorting too
[2016-12-28 02:27:42] l3f : BitMEX_Greg: is it possible to have the liquidation price be displayed in the confirmation dialog?
[2016-12-28 02:27:56] l3f : I hate entering without knowing the liquidation price
[2016-12-28 02:28:17] sleger : MrRGnome: so your suggestion is just to cap the market at mark +/- 0.375% ?
[2016-12-28 02:28:24] l3f : maybe "your previous liquidation price -> new liquidation price"
[2016-12-28 02:28:35] MikeHunt : l3f: order value?
[2016-12-28 02:28:51] MikeHunt : l3f: i was thinking about like how much gained/lost, not just order value
[2016-12-28 02:28:57] Yazz : This site is so confusing compared to Polo... Guess its got more features but, wow...
[2016-12-28 02:29:01] BitMEX_Greg : l3f: I believe this shows up as 'Estimated Liquidation Price' with a price there
[2016-12-28 02:29:19] sleger : fyi that price is often wrong
[2016-12-28 02:29:21] Yazz : I'll get there... eventually
[2016-12-28 02:29:31] l3f : BitMEX_Greg: that does include my existing position?
[2016-12-28 02:29:44] happy : it's always wrong
[2016-12-28 02:30:16] halloz : It amazes me nobody is selling. Hoard all the coins!!!
[2016-12-28 02:30:17] happy : Are we going to be down?to 900?
[2016-12-28 02:30:48] MikeHunt : happy: when this goes down, its going to be epic but the bots will fight til the bitter end
[2016-12-28 02:30:49] narnarfromnarnia : 800
[2016-12-28 02:30:57] dodic : 799
[2016-12-28 02:31:06] shery : narnarfromnarnia: nice
[2016-12-28 02:31:22] shery : narnarfromnarnia: 1k on friday is on grounds
[2016-12-28 02:32:00] MrRGnome : I'd prefer swap not be used as a mechanism to attempt to get the last price to track the mark price at all. @sleger. I would be more in favor of a solution that didn't put gambelers in a position where they have no idea if they can hold their position overnight because while price may be relatively stagnant or remotely in the direction you gambled, the funding may murder you. I'd be for example perfectly happy with a bitmex instrument that didn't focus on the impossible of tracking another index and just traded off it's own volume
[2016-12-28 02:32:07] halloz : - ∞
[2016-12-28 02:32:59] BitMEX_Greg : l3f: Hi, if you exit a position then you won't have a liquidation price. And yes as sleger notes that price is an estimated price only. We are currently working to improve that calculation
[2016-12-28 02:33:06] sleger : MrRGnome: then it might trade at 12, 145 or 998
[2016-12-28 02:33:14] MrRGnome : sleger: yes that's right
[2016-12-28 02:33:15] sleger : no reason to track anything in particular
[2016-12-28 02:33:29] MikeHunt : BitMEX_Greg: will we get notified as to wen caculation may change?
[2016-12-28 02:33:29] MrRGnome : i'm okay with that, and trading that instrument. If I wanted to trade another index I'd be using that platform
[2016-12-28 02:33:32] sleger : its already enough of a casino
[2016-12-28 02:33:51] MrRGnome : swap doesn't make it any less of a casino, just a confusing one
[2016-12-28 02:33:57] Ebit : if i open a perpetual swap and it gets liquidated. I dont lose everything right? I just get closed at the liquidated market price?
[2016-12-28 02:34:24] sleger : i dont agree, it serves a purpose, but not tracking mark because funding is capped is a design error
[2016-12-28 02:34:25] MrRGnome : Ebit: if you are at cross margin you lose everything
[2016-12-28 02:34:44] l3f : sleger: maybe a shorter funding interval?
[2016-12-28 02:34:46] happy : no, you closed at the broke price. (Which you will lose all your cost)
[2016-12-28 02:34:59] sleger : l3f: that is the solution I had in ind
[2016-12-28 02:35:00] MrRGnome : sleger: We're going to have to agree to disagree. Ther eis no perfect solution, pros and cons to any instrument, but I don't like the cons of the current swap model and I would like it even less uncapped
[2016-12-28 02:35:06] sleger : *mind
[2016-12-28 02:35:22] l3f : sleger: I think it should just be a sliding interval based on volatility, best of both words
[2016-12-28 02:35:24] l3f : worlds*
[2016-12-28 02:36:46] arbitrage001 : cant expect to use 100x leverage long without giving bear incentive to short
[2016-12-28 02:37:23] MikeHunt : triangle result will be....
[2016-12-28 02:38:14] l3f : MikeHunt: more up and shorts btfo
[2016-12-28 02:38:22] happy : will we make a new high today?
[2016-12-28 02:38:30] BitMEX_Greg : MikeHunt: Hoping to have something early next month
[2016-12-28 02:38:56] halloz : weee
[2016-12-28 02:39:21] REKT : Liquidated short on `XBTUSD`: buy 50 @ 949.60
[2016-12-28 02:39:34] narnarfromnarnia : okay so we're near top
[2016-12-28 02:39:39] narnarfromnarnia : rekts comin
[2016-12-28 02:39:39] MikeHunt : BitMEX_Greg: ty
[2016-12-28 02:39:52] MikeHunt : damn internet cut out
[2016-12-28 02:39:58] MikeHunt : right in middle of trade
[2016-12-28 02:40:32] javierstone : it'll be fun to stare at 6900
[2016-12-28 02:40:42] shery : narnarfromnarnia: funding hour equal, 1 i would love it if it retraced in this time
[2016-12-28 02:41:53] narnarfromnarnia : shery: did you open a short position?
[2016-12-28 02:42:12] narnarfromnarnia : wait for it and say "go"
[2016-12-28 02:44:04] shery : narnarfromnarnia: yeah a obvious short, now, 50 $ ride in matter of 12 hours is not good , it needs sme kinda retrancement
[2016-12-28 02:44:14] shery : narnarfromnarnia: falling now
[2016-12-28 02:44:22] l3f : scalpers here's your chance
[2016-12-28 02:44:25] dodic : ahahahah
[2016-12-28 02:44:53] dodic : that moment when all the new guys read about funding
[2016-12-28 02:45:09] Ebit : MrRGnome: so i opened a perpetual swap at 25x leverage. If it gets liquidated I lose my whole margin. The liquidated price isn';t a stop loss?
[2016-12-28 02:45:10] m3s : dodic: hits you like a train
[2016-12-28 02:45:31] m3s : Ebit: it is yes
[2016-12-28 02:45:37] dodic : *wait, so its not a free loan*
[2016-12-28 02:45:46] l3f : dodic: shieeeeeettttttt
[2016-12-28 02:45:48] shery : 0.22 btcin for 52 xbt position easy money
[2016-12-28 02:46:12] Ebit : that sounds like horrible deal
[2016-12-28 02:46:24] MrRGnome : Ebit: Yep yup will lose all of your margin. the liquidation price represents when the difference between your entry price and the current price reflects your margin, so it is entirely consumed by the price differential when the position is closed/liquidated
[2016-12-28 02:47:17] dodic : dip could still be instantly obliterated by btc price pop
[2016-12-28 02:47:19] Ebit : i mind as well go trade x5 leverage somewhere else with a tight stop loss no?
[2016-12-28 02:47:40] Ebit : i mean i get high leverage here but the risk is also way too high
[2016-12-28 02:47:46] MrRGnome : Ebit: You'll get the same thing everywhere, it's not a bad thing it just means you're being too gambly
[2016-12-28 02:48:05] MrRGnome : If you want a better liquidation make a stop loss and go 5x here
[2016-12-28 02:48:18] dodic : I 've found that 1-5x leverage works for me for now
[2016-12-28 02:48:24] Ebit : for example I can bet $900 with 5x leverage on 1broker and set a SL to lose only $50
[2016-12-28 02:48:27] dodic : and actually i do better with lower leverage
[2016-12-28 02:48:35] dodic : less stress
[2016-12-28 02:48:36] l3f : If there ever was a time to be 100x
[2016-12-28 02:48:37] MrRGnome : Ebit yep you can do that everywhere, including here
[2016-12-28 02:48:38] Ebit : dodic: i see
[2016-12-28 02:48:39] l3f : it was 6 hours ago
[2016-12-28 02:48:43] ayy_lmao : lol
[2016-12-28 02:48:45] dodic : hahaha
[2016-12-28 02:48:50] m3s : l3f: lol
[2016-12-28 02:49:23] Ebit : MrRGnome: so can i set a SL here just $5 above liquidation price so i don;t lose everything
[2016-12-28 02:49:54] MrRGnome : Sure, but you'll only keep $5 * your margin
[2016-12-28 02:49:58] m3s : Ebit: you only loose your margin not your accont
[2016-12-28 02:50:02] MrRGnome : Just liek you would anywhere else
[2016-12-28 02:50:09] MrRGnome : The math is no different here
[2016-12-28 02:50:47] halloz : China wants MOAAARR
[2016-12-28 02:50:57] Ebit : MrRGnome: sorry ive never been liquidated before and 1broker don't have liquidations
[2016-12-28 02:51:19] m3s : Ebit: pretty sure they do
[2016-12-28 02:51:27] dodic : Ebit: anything with a margin account
[2016-12-28 02:51:34] MrRGnome : Ebit: Anywhere with leverage has liquidations
[2016-12-28 02:51:41] MrRGnome : Margin is you gambling with money you don't have
[2016-12-28 02:51:47] Ebit : m3s: no they have automatic stop losses at 20% of your position
[2016-12-28 02:51:58] MrRGnome : The money you DO have at some point must be consumed to cover your losses. There comes apoint where you have no more margin to lose
[2016-12-28 02:52:10] MrRGnome : that's whena liquidation happens
[2016-12-28 02:52:23] m3s : yes because max levere is 5x ?
[2016-12-28 02:52:46] Ebit : MrRGnome: like that's what I am trying to do. Like on the forex i only need $100 bucks with 200 leverage. I usally have a 2 to 1 ration on my positions
[2016-12-28 02:52:55] halloz : Pay attention to the mark price - that could save you in times of crisis
[2016-12-28 02:53:14] MrRGnome : Ebit you should be aware this isn't forex, and anything above 10x is pretty much suicide as a function of time
[2016-12-28 02:54:32] Ebit : m3s: this is from their site "All positions are assigned with a forced Stop Loss price, where your position gets closed automatically, if the market moves against your trade too much. You can calculate this assigned value in advance with our Stop Loss Limit calculator or look it up in the "Edit Position" dialog if it already exists. Since the Stop Loss price is not a guaranteed exit price, there is the possibility that your positions are closed with a negative value. Especially if markets move very fast or if you are holding leverged positions over-night/over-weekend you might lose more funds than initially invested. We currently have no "margin calls" or similar mechanisms."
[2016-12-28 02:54:44] Ebit : MrRGnome: hmm i see
[2016-12-28 02:54:49] narnarfromnarnia : shery: short?
[2016-12-28 02:54:50] MrRGnome : Imagine you were trading 200x on penny stocks
[2016-12-28 02:54:54] MrRGnome : It's just crazy volatile
[2016-12-28 02:54:58] dodic : oh this is just, juicy. The forces of extreme funding and BTC bullishness are locked in struggle :D
[2016-12-28 02:55:00] MrRGnome : So be careful
[2016-12-28 02:55:22] shery : narnarfromnarnia: yeah
[2016-12-28 02:55:25] Ebit : MrRGnome: luckily i cashed out $300 profit on my 25x lev earlier
[2016-12-28 02:55:26] Ebit : shit
[2016-12-28 02:55:28] m3s : a retrace to 930 should happen tho
[2016-12-28 02:55:30] dodic : Soap opera material
[2016-12-28 02:55:35] dodic : right here
[2016-12-28 02:55:46] dodic : who will prevail?
[2016-12-28 02:56:34] MrRGnome : Ebit: Grats, keep up the good trades
[2016-12-28 02:56:42] MrRGnome : Ebit you have a position right now?
[2016-12-28 02:56:47] dodic : Who gets REKT? Next time on degenerate gambling online!
[2016-12-28 02:56:59] tuttyking : can someone give me a simple breakdown of the funding rate and how/
[2016-12-28 02:57:05] MrRGnome : dodic: my favourite show!
[2016-12-28 02:57:11] l3f : this is the most degenerate gambling site
[2016-12-28 02:57:12] tuttyking : it is affecting the price
[2016-12-28 02:57:13] tuttyking : ty
[2016-12-28 02:57:16] m3s : dodic: is it gambling if you consistently make money?
[2016-12-28 02:57:18] l3f : where you borrow money to gamble
[2016-12-28 02:57:28] l3f : m3s: gamblers win, then they lose
[2016-12-28 02:57:47] m3s : of course, i said consistently
[2016-12-28 02:57:52] Ebit : MrRGnome: i did but the lev was too high so i just closed it. Will need to do more research
[2016-12-28 02:57:56] sleger : tuttyking: https://www.bitmex.com/app/swapsGuide
[2016-12-28 02:57:57] MrRGnome : tuttyking: funding rate is a tool used to encourage the trading price to match the mark price. Every 8 hours either longs or shorts pay the other up to 0.375% of their position
[2016-12-28 02:58:32] narnarfromnarnia : lot of shorts opened now?
[2016-12-28 02:58:36] narnarfromnarnia : how do we check that data
[2016-12-28 02:58:43] narnarfromnarnia : bfxdata says lot of sells open
[2016-12-28 02:58:45] narnarfromnarnia : uh oh
[2016-12-28 02:58:45] MrRGnome : If the price being traded is much higher than the mark price,t he funding rate wwill be positive and longs pay shorts
[2016-12-28 02:58:52] narnarfromnarnia : short squeeze up could happen
[2016-12-28 02:58:58] Ebit : how do futures work. Basically I place a position on it and it stays open until said date?
[2016-12-28 02:59:11] tuttyking : MrRGnome: @sleger thanks heaps
[2016-12-28 02:59:13] MrRGnome : Ebit: You got it
[2016-12-28 02:59:24] dodic : tuttyking: Notice the gap between the blue index line and the price. The swap is like a future that ends every 8 hours. At the end of the 8 hours the gap is used to make an incentive reward / punishment to make the price converge to the index
[2016-12-28 02:59:27] Ebit : MrRGnome: what determines that i get paid?
[2016-12-28 02:59:42] MrRGnome : Ebit: Difference in price betwwn your entry and exit points minus fees
[2016-12-28 02:59:47] MrRGnome : same as any otehr trade
[2016-12-28 03:00:08] happy : anyone short here?
[2016-12-28 03:00:09] Ebit : MrRGnome: why not just do a regular trade than?
[2016-12-28 03:00:15] Ebit : at ;east i can close it whenever i want
[2016-12-28 03:00:24] tuttyking : dodic: ahh kk ty
[2016-12-28 03:00:35] m3s : Ebit: funding
[2016-12-28 03:00:37] MrRGnome : Ebit: because futures don't have to pay funding,a nd they are an instrument which doesn't directly track spot so it can be used for arbitrage or other kinds of trading
[2016-12-28 03:01:29] dodic : and slowly, i move from total n00b to just regular n00b
[2016-12-28 03:01:44] Ebit : isn't arbitrage risky tho espeically with the high variance of the bitcoin market
[2016-12-28 03:02:21] dodic : There are no free lunches I suppose
[2016-12-28 03:02:30] halloz : *CHINA!!!*
[2016-12-28 03:02:41] halloz : Weee
[2016-12-28 03:02:43] MrRGnome : Ebit: It's less risky than gambling, your position is hedged in another market so as long as youir positions are opened and closed in tandem you make money, but there are some risks
[2016-12-28 03:02:54] narnarfromnarnia : fake out
[2016-12-28 03:02:55] narnarfromnarnia : possible
[2016-12-28 03:03:01] narnarfromnarnia : how do you know to go long or short with this
[2016-12-28 03:03:08] narnarfromnarnia : i guess ya just don't mess around
[2016-12-28 03:03:18] l3f : how hard is it to buy and hold!!!!!
[2016-12-28 03:03:30] l3f : ???
[2016-12-28 03:03:34] Ebit : l3f: as a degen trader it's impossible
[2016-12-28 03:03:50] dodic : well i got into bitcoin at like 850 so...
[2016-12-28 03:03:52] narnarfromnarnia : l3f: i am holding my equity but not trading when highly batshit crazy like this anymore
[2016-12-28 03:03:56] dodic : not sure thats enough
[2016-12-28 03:04:03] elmorte : Ebit: it's mostly the timing that's hard to get
[2016-12-28 03:04:04] dodic : im not going to see the same gains
[2016-12-28 03:04:26] dodic : at least... thats what I currently think
[2016-12-28 03:04:35] MrRGnome : narnarfromnarnia: that's also my strategy - just hold through th ebubble, maybe short when it looks good
[2016-12-28 03:04:53] narnarfromnarnia : MrRGnome: ya plenty to make on way down big moves
[2016-12-28 03:05:04] narnarfromnarnia : only going for really clear easy trades for now on
[2016-12-28 03:05:13] MrRGnome : just holding is making money. I've made a hsit load just holding
[2016-12-28 03:05:16] Ebit : so i see on the site there is a future for dec.30? so if i open a position now and if it doesn't get liquidated til dec.30 and the price has gone up from my entry i make the money?
[2016-12-28 03:05:23] MrRGnome : And I didn't need to risk being liquidated int he chop
[2016-12-28 03:05:25] narnarfromnarnia : ya
[2016-12-28 03:05:40] MrRGnome : Ebit: If you long, yes.
[2016-12-28 03:05:47] dodic : MrRGnome: There is merit to this
[2016-12-28 03:06:05] l3f : can you degenerates short it down so I can get more dips
[2016-12-28 03:06:06] l3f : please
[2016-12-28 03:06:17] dodic : MrRGnome: I have a profit from shorting but I've also been having like 10 cups of coffee a day
[2016-12-28 03:06:22] Ebit : MrRGnome: why do people say futures are at $1000 whats the point?
[2016-12-28 03:06:33] Ebit : elmorte:
[2016-12-28 03:06:35] shery : l3f: angry on shorters
[2016-12-28 03:06:40] narnarfromnarnia : Ebit: because that's the future bro
[2016-12-28 03:06:45] l3f : shery: just need more dips
[2016-12-28 03:06:47] happy : huobi is going up， any idea about short/long
[2016-12-28 03:07:02] narnarfromnarnia : happy: just wait until you're clear in your head
[2016-12-28 03:07:08] shery : l3f: me too , short at high buy at dip , get fundings too
[2016-12-28 03:07:10] narnarfromnarnia : don't risk anything if you're not 100%
[2016-12-28 03:07:18] narnarfromnarnia : ya
[2016-12-28 03:07:24] narnarfromnarnia : shery: great idea
[2016-12-28 03:07:30] narnarfromnarnia : so we just have to be in short by end of that timer?
[2016-12-28 03:07:37] dodic : FYI all n00bs... start at like 1-2x
[2016-12-28 03:07:52] Ebit : dodic: but i came to to get rekt
[2016-12-28 03:08:01] sleger : the price will jump just after the timer reaches zero by an amount that offsets whatever you made via funding
[2016-12-28 03:08:49] shery : sleger: what about shorting now and close near funding when people sells a lot leaving funding, that s good too
[2016-12-28 03:09:19] happy : Is it just Bitmex or all website has funding?
[2016-12-28 03:09:25] dodic : Ebit: Well the first trade I made wound up 50x because I chased, I didn't sleep much for a few days until I made it back
[2016-12-28 03:09:27] ayy_lmao : bitmex
[2016-12-28 03:09:33] dodic : So... clear you calendar
[2016-12-28 03:09:37] ayy_lmao : it allows perpetual futures
[2016-12-28 03:09:42] dodic : or be ok with losing everything in your account
[2016-12-28 03:09:45] ayy_lmao : other future sites have settlement
[2016-12-28 03:10:16] dodic : and the best moves tend to happen at some insane time like 4am or when your cooking, or showering
[2016-12-28 03:10:20] Ebit : ok i so just openeed a position with 50x lev but this time my margin is only $60 so i don't mind getting liquidated
[2016-12-28 03:10:34] dodic : ok, as long as you dont mind losing it all
[2016-12-28 03:10:49] MrRGnome : Ebit: Yeah be aware the required margin changes with price
[2016-12-28 03:11:08] Ebit : so a move of just over $20 breaks even
[2016-12-28 03:11:53] Ebit : MrRGnome: noted thanks
[2016-12-28 03:12:17] MrRGnome : Ebit: Good luck
[2016-12-28 03:12:31] Ebit : MrRGnome: thanks everyone
[2016-12-28 03:12:36] happy : drop to 930????
[2016-12-28 03:12:42] dodic : Ebit: I always consider the Liq:price + 10% extra safety. That should be the biggest move you expect
[2016-12-28 03:12:42] l3f : happy: lol no
[2016-12-28 03:12:52] l3f : sorry about that short
[2016-12-28 03:12:55] dodic : when you actually have real money
[2016-12-28 03:12:57] Ebit : dodic: k
[2016-12-28 03:13:03] dodic : and you are scared lol
[2016-12-28 03:13:11] dodic : *I've been there*
[2016-12-28 03:13:25] happy : I'm long
[2016-12-28 03:13:26] Ebit : i try not to trade scared, it's like garuntee rekt
[2016-12-28 03:13:36] dodic : good
[2016-12-28 03:13:43] Ebit : so far it's just been bravec and stupid
[2016-12-28 03:13:49] ayy_lmao : only time ive been scared is when i have had too much size on
[2016-12-28 03:13:53] happy : but don't want to pay funding..
[2016-12-28 03:14:02] MrRGnome : Ebit: I'm too scared to trade this
[2016-12-28 03:14:08] MrRGnome : Shroting the shit out of XMR though...
[2016-12-28 03:14:20] shery : 45 mints yummy
[2016-12-28 03:14:25] dodic : Shorting anything other than BTC is always a good idea
[2016-12-28 03:14:30] dodic : although I do also short BTC
[2016-12-28 03:14:33] dodic : but short them more
[2016-12-28 03:14:37] narnarfromnarnia : shery: should be a solid 20$ drop
[2016-12-28 03:14:42] narnarfromnarnia : just gotta get the top
[2016-12-28 03:14:52] shery : narnarfromnarnia: only if huobi drops
[2016-12-28 03:15:24] MrRGnome : I like that i can short here, at 1:1 non leveraged and move my money to an actually exchange to cash out locking in the good price and not getting hit by the delay
[2016-12-28 03:15:35] narnarfromnarnia : shery: below 6828
[2016-12-28 03:15:36] narnarfromnarnia : ?
[2016-12-28 03:15:46] narnarfromnarnia : scared it'll be a mini dump
[2016-12-28 03:16:37] narnarfromnarnia : wee
[2016-12-28 03:16:39] dodic : hahahah some damn scared shorts
[2016-12-28 03:16:56] narnarfromnarnia : let's see some rekts 1st
[2016-12-28 03:17:25] happy : going down..
[2016-12-28 03:17:30] dodic : what exhange even moved that
[2016-12-28 03:17:36] anduck : stamp
[2016-12-28 03:17:42] dodic : worst exchange
[2016-12-28 03:17:48] anduck : stamp best
[2016-12-28 03:17:58] anduck : hacked? they cover
[2016-12-28 03:18:02] anduck : regulated? they are
[2016-12-28 03:18:12] anduck : float errors? they have
[2016-12-28 03:18:25] ayy_lmao : lol
[2016-12-28 03:18:25] dodic : their icon is ugly
[2016-12-28 03:18:29] dodic : f that
[2016-12-28 03:18:29] l3f : anduck: best prices? they have
[2016-12-28 03:19:01] anduck : stamp will have margin trading during Q2
[2016-12-28 03:19:09] halloz : *OKCOIN DOWN*
[2016-12-28 03:19:13] anduck : s/during/in
[2016-12-28 03:19:14] MrRGnome : oh shit
[2016-12-28 03:19:15] MrRGnome : really?
[2016-12-28 03:19:18] halloz : trololo
[2016-12-28 03:19:22] ayy_lmao : no
[2016-12-28 03:19:22] dodic : *funding boogeymonster approaches*
[2016-12-28 03:19:25] anduck : they said they'll implement it
[2016-12-28 03:19:59] narnarfromnarnia : halloz: not yet
[2016-12-28 03:20:05] MrRGnome : the amount of money bitstamp has asked for its equity is insane
[2016-12-28 03:20:07] narnarfromnarnia : need to see some rekts here
[2016-12-28 03:20:30] anduck : yyeeah
[2016-12-28 03:21:20] MrRGnome : I want a huge price surge 1 minute before funding
[2016-12-28 03:21:26] MrRGnome : really fuck everyone who went in just to get the funding
[2016-12-28 03:21:54] anduck : shorters get it?
[2016-12-28 03:22:12] MrRGnome : shorters get funding and longs pay because price has been tracking well above index
[2016-12-28 03:22:53] dodic : oh man this is getting great
[2016-12-28 03:22:53] laisee : its consolation prize for guessing market wrong
[2016-12-28 03:22:57] narnarfromnarnia : does it always drop around funding?
[2016-12-28 03:22:59] narnarfromnarnia : or na
[2016-12-28 03:23:09] sleger : only when there are too many idiots
[2016-12-28 03:23:12] dodic : not always but often
[2016-12-28 03:23:21] MrRGnome : I wager it will bounce locally from ~$2 below mark to ~$5 above
[2016-12-28 03:23:29] laisee : idiot inflation index == funding rate
[2016-12-28 03:23:33] MrRGnome : once funding settles
[2016-12-28 03:23:33] shery : narnarfromnarnia: yesterday it was 0.23 an dropped in pump too, what will happen today guess
[2016-12-28 03:23:44] dodic : *wait what's funding*
[2016-12-28 03:23:44] narnarfromnarnia : shery: drop
[2016-12-28 03:23:46] sleger : MrRGnome: that's 7$
[2016-12-28 03:23:49] dodic : *SELL*
[2016-12-28 03:23:51] sleger : the funding is only ~3
[2016-12-28 03:24:05] MrRGnome : sleger: Yeah.
[2016-12-28 03:24:12] imapotato : I've got three things to say.
[2016-12-28 03:24:13] shery : narnarfromnarnia: need to go towards 945
[2016-12-28 03:24:21] MrRGnome : I don't think that it's going to be a proportional move. I think traders are dumb
[2016-12-28 03:24:22] narnarfromnarnia : shery: right
[2016-12-28 03:24:28] imapotato : 1. Stamp caught up to finex. Wtf?
[2016-12-28 03:24:29] narnarfromnarnia : but if we start seeing rekts
[2016-12-28 03:24:34] narnarfromnarnia : try to catch needle top
[2016-12-28 03:24:35] shery : narnarfromnarnia: 35 mints now
[2016-12-28 03:24:45] imapotato : 2. Quentin Tarantino makes damn good movies.
[2016-12-28 03:24:55] shery : stamp , pump
[2016-12-28 03:25:00] imapotato : 3. We're mooning!!!!! Yee haw!
[2016-12-28 03:25:12] sleger : and 1. ?
[2016-12-28 03:25:15] anduck : were r rektss?
[2016-12-28 03:25:32] imapotato : 4. Why does chat do numbered lists and restart at 1?
[2016-12-28 03:25:39] imapotato : :(
[2016-12-28 03:26:10] sleger : it uses MS Outlook intelligence
[2016-12-28 03:26:23] imapotato : Lol
[2016-12-28 03:27:40] Angelika : sleger: rate worked
[2016-12-28 03:27:46] dodic : panic... is the most useful and terrible thing to a trader
[2016-12-28 03:27:49] Angelika : price under spot
[2016-12-28 03:28:29] tuttyking : anyone seen any news for why xmr has pumped?
[2016-12-28 03:28:35] narnarfromnarnia : tuttyking: stamp
[2016-12-28 03:28:41] narnarfromnarnia : ltc on gox
[2016-12-28 03:28:49] Ebit : MrRGnome: too scared to trade btc? I think its pretty bullish til 1000 at least
[2016-12-28 03:29:21] MrRGnome : Ebit: I'm just holding btc for now, I agree it will probably touch 1000 at come point.
[2016-12-28 03:29:57] MrRGnome : I have both buys and sells ont he order book, waiting for extremes in price to be hit
[2016-12-28 03:29:58] Ebit : MrRGnome: holding is good
[2016-12-28 03:30:10] ett1 : shit just woke up
[2016-12-28 03:30:18] dodic : dude
[2016-12-28 03:30:23] dodic : you missed a lot
[2016-12-28 03:30:28] ett1 : long doing well, missed th ebreak ye
[2016-12-28 03:30:50] tuttyking : narnarfromnarnia: they are thinking about opening xmr market?
[2016-12-28 03:31:14] dodic : BTC will do well long until 1000
[2016-12-28 03:31:16] dodic : at least
[2016-12-28 03:32:41] l3f : Take eth back to zero
[2016-12-28 03:32:42] dodic : So just long with margin that doesn't liq. under 800 lol?
[2016-12-28 03:32:56] dodic : ETH is already 0, just doesn't know it
[2016-12-28 03:33:14] dodic : Proof of Stake will be a tragedy... or comedy
[2016-12-28 03:33:49] dodic : ETC = Russian Scam
[2016-12-28 03:34:00] dodic : Zcash = science experiment
[2016-12-28 03:34:09] dodic : Monero = ahhhhhh maybe
[2016-12-28 03:35:16] dodic : wait actually, i guess ETH counts as russian scam too
[2016-12-28 03:35:18] CaptainDean : i want to short BTC
[2016-12-28 03:35:23] CaptainDean : what a bad idea ! :D
[2016-12-28 03:35:35] dodic : CaptainDean: NO
[2016-12-28 03:35:45] dodic : not right now
[2016-12-28 03:36:04] dodic : bad
[2016-12-28 03:36:27] MrRGnome : PSA don't ever let anyone int he troll box convince you what position to take, or close
[2016-12-28 03:36:38] MikeHunt : eth died when they bailed out the DAO
[2016-12-28 03:36:45] MikeHunt : same for wen gov bailed out banks
[2016-12-28 03:36:45] dodic : *just trying to help*
[2016-12-28 03:37:03] MrRGnome : <3 dodic
[2016-12-28 03:37:32] dodic : yeah ETH is a super cool tech
[2016-12-28 03:37:41] dodic : I would be long the technology if I could
[2016-12-28 03:37:54] dodic : but the way they are handling the currency == :(
[2016-12-28 03:38:10] dodic : *you can be long the tech by building Dapps*
[2016-12-28 03:38:23] dodic : *or working with or investing in them*
[2016-12-28 03:38:26] l3f : 0.375% per 8 hours = 400% APR
[2016-12-28 03:38:28] l3f : fucking lol
[2016-12-28 03:38:33] dodic : the pain
[2016-12-28 03:38:41] MrRGnome : dodic: Is the italics your inner monologue?
[2016-12-28 03:38:45] dodic : yes
[2016-12-28 03:39:09] MrRGnome : I like eth the tech, it's too bad they don't understand the decentralized security model.
[2016-12-28 03:39:30] dodic : Yeah, they struggle... badly
[2016-12-28 03:40:26] MikeHunt : dodic: iirc btc will integrate useful stufff from eth
[2016-12-28 03:40:47] dodic : I think someone else said here very nicely, that ETH doesn't get how create incentives for good actors
[2016-12-28 03:41:03] dodic : and punish bad actors
[2016-12-28 03:41:14] dodic : without resorting to political action
[2016-12-28 03:41:46] narnarfromnarnia : shery: 18min
[2016-12-28 03:41:57] dodic : the reckoning!
[2016-12-28 03:43:31] MrRGnome : dodic: It might have been me, I was ranting about that the other day