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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[2017-01-05 06:06:54] MikeHunt : cookielito: we all locked in?
[2017-01-05 06:07:11] cookielito : I dont know
[2017-01-05 06:07:15] javierstone : cookielito: i just got one confirmed at 12:20
[2017-01-05 06:07:17] MikeHunt : cookielito: error message?
[2017-01-05 06:07:26] cookielito : Withdrawals have been temporarily disabled on this account. Please contact support.
[2017-01-05 06:07:40] MikeHunt : cookielito: have you withdrawn a lot lately?
[2017-01-05 06:07:50] cookielito : not too much
[2017-01-05 06:07:54] cookielito : twice today
[2017-01-05 06:08:15] javierstone : ha thats prolly alot
[2017-01-05 06:08:47] cookielito : whatever
[2017-01-05 06:09:09] javierstone : i like that they send "all withdrawls byhand"
[2017-01-05 06:09:16] javierstone : makes me think there's some orchard where they pick them
[2017-01-05 06:10:05] cookielito : ok
[2017-01-05 06:10:11] cookielito : support@bitmex.com
[2017-01-05 06:10:11] cookielito : ?
[2017-01-05 06:10:14] jedisatoshi : I just submitted a ticket
[2017-01-05 06:10:39] jedisatoshi : I am unable to withdraw at this time is it due to maint or something?
[2017-01-05 06:11:06] jedisatoshi : cookielito: I am getting the same thing glad to see its not just me
[2017-01-05 06:11:31] elmorte : wow, CNH up to 6.82
[2017-01-05 06:11:35] BitMEX_Arthur : jedisatoshi: Can you send a screenshot of what you are seeing to support@bitmex.com
[2017-01-05 06:11:45] cookielito : sent
[2017-01-05 06:11:50] jedisatoshi : BitMEX_Arthur: yes sir
[2017-01-05 06:12:27] elmorte : j8: how are you doing man?
[2017-01-05 06:12:41] rowrow : BitMEX_Arthur: are there any updates on the funding rate cap? if my thinking is correct, it's quite a major problem
[2017-01-05 06:12:55] j8 : elmorte: pretty great start to the year
[2017-01-05 06:13:10] elmorte : end of the last one too!
[2017-01-05 06:13:31] REKT : Liquidated short on `REP7D`: buy 1068 @ 0.004572
[2017-01-05 06:13:38] MKARAMI : What do you think about the closing point of today?
[2017-01-05 06:13:48] elmorte : j8: any way to pick your brain on some python questions?
[2017-01-05 06:13:56] j8 : sure
[2017-01-05 06:14:21] 2102 : No withdraw available!! Why???
[2017-01-05 06:14:26] MKARAMI : Do you have any guess?
[2017-01-05 06:14:51] BitMEX_Arthur : rowrow: No updates as nothing will be happening without a large notice period.
[2017-01-05 06:14:55] jedisatoshi : BitMEX_Arthur: I just sent the support ticket with the screenshot
[2017-01-05 06:14:58] BitMEX_Arthur : Thanks
[2017-01-05 06:15:03] elmorte : j8: my questions are quite noobish...any way to contact you privately?
[2017-01-05 06:15:19] jedisatoshi : BitMEX_Arthur: Thank you for responding so quickly!
[2017-01-05 06:15:35] QuantFocus : BitMEX_Arthur: would an increase in funding rate be associated with a decrease in leverage allowed?
[2017-01-05 06:15:42] QuantFocus : sorry if you already answered
[2017-01-05 06:16:13] j8 : elmorte: i could go on irc i guess, probably going to bed soon though
[2017-01-05 06:16:22] 2102 : Withdrawal are currently disabled! Arthur why?
[2017-01-05 06:16:34] BitMEX_Greg : 2102: We are looking into it
[2017-01-05 06:17:09] elmorte : j8: I'm there, elmo_irc
[2017-01-05 06:17:14] elmorte : appreciate it
[2017-01-05 06:17:18] BitMEX_Arthur : 2102: Don't worry we rolled out a function to help us better track withdrawals, we are fixing it now. Your coins are safe
[2017-01-05 06:17:44] l3f : Better not gox me
[2017-01-05 06:18:22] jedisatoshi : BitMEX_Arthur: I wasnt too worried I love Bitmex! Thank you for your help!
[2017-01-05 06:18:31] MikeHunt : BitMEX_Arthur: safe *with* *us* ? ;)
[2017-01-05 06:18:48] QuantFocus : l3f: lol
[2017-01-05 06:18:49] elmorte : it's a multisig wallet
[2017-01-05 06:18:50] BitMEX_Greg : l3f: Short the potential fall out here with 100x. (kidding, everything is fine)
[2017-01-05 06:18:57] mariomarco : is anybody else seeing the bug with orders on chart
[2017-01-05 06:19:05] 2102 : Thanks.
[2017-01-05 06:19:12] BitMEX_Greg : mariomarco: What bug do you see?
[2017-01-05 06:19:14] rowrow : there appears to be a liquidation that's been sitting there for 20 minutes
[2017-01-05 06:19:15] mariomarco : orders are not show on chart or are still displayed after they are canceled
[2017-01-05 06:19:22] l3f : BitMEX_Greg: Shorting a bitcoin rally is the last thing I'd do
[2017-01-05 06:19:37] elmorte : can't rally forever
[2017-01-05 06:19:47] MikeHunt : BitMEX_Greg: how long do you guys expect 160btc to last when this dumps?
[2017-01-05 06:19:54] rms : shorting a bitcoin rally to make more bitcoins... on a hypothetical exchange that lost all the bitcoins. let's do it!
[2017-01-05 06:20:14] BitMEX_Greg : MikeHunt: Where do you get the 160btc number from
[2017-01-05 06:20:22] elmorte : Don't worry, you get mexcoins in compensation
[2017-01-05 06:20:26] elmorte : They can call them...pesos
[2017-01-05 06:20:30] BitMEX_Greg : haha
[2017-01-05 06:20:31] QuantFocus : hahahah
[2017-01-05 06:20:32] mariomarco : elmorte: lolo
[2017-01-05 06:20:40] MikeHunt : lol
[2017-01-05 06:20:44] MikeHunt : BitMEX_Greg: insurance fund?
[2017-01-05 06:20:57] BitMEX_Greg : Ah right, it is split between different contracts
[2017-01-05 06:21:10] BitMEX_Greg : Once it runs out, then if the liquidations are not filled then ADL will occur
[2017-01-05 06:21:34] MikeHunt : BitMEX_Greg: so probably not long then?
[2017-01-05 06:21:52] BitMEX_Greg : We haven't had any ADL on the way up btw
[2017-01-05 06:22:08] MikeHunt : BitMEX_Greg: i think you will on the way down when the panic sets in
[2017-01-05 06:22:10] mariomarco : MikeHunt: are there any problem with liquidations?
[2017-01-05 06:22:26] immackay : meanwhile my altcoin account is doing better than this one
[2017-01-05 06:22:28] immackay : god damnit
[2017-01-05 06:22:29] MikeHunt : BitMEX_Greg: its the titanic & lifeboats analogy , 16 wasnt enough there, 160 wont be here imo
[2017-01-05 06:22:43] immackay : why did december have to be so bad for me
[2017-01-05 06:22:44] mariomarco : lool
[2017-01-05 06:22:58] immackay : thanks china
[2017-01-05 06:22:59] mariomarco : immackay: yuore not alone bro
[2017-01-05 06:23:09] MikeHunt : there will be a black swan at some point, its inevitable
[2017-01-05 06:23:12] MikeHunt : same with iceberg thingie
[2017-01-05 06:23:16] rowrow : so status of withdrawals is that they are or aren't working at the moment?
[2017-01-05 06:23:18] BitMEX_Greg : MikeHunt: Perhaps, who knows until it happens. We have quite good liquidity here. It's better than the DPE however
[2017-01-05 06:23:19] immackay : made 4 btc in a day, lost it all.... kill me
[2017-01-05 06:23:23] Speran49 : i lost 6k trading in my normal market acct cause of december shenanigans
[2017-01-05 06:23:45] Speran49 : i think something was going on with the planets and magnetic fields. Idk anyone that made money.
[2017-01-05 06:23:49] MikeHunt : BitMEX_Greg: so basically its ok until its not? LOL
[2017-01-05 06:23:52] BitMEX_Greg : rowrow: We rolled out a fix earlier to track withdrawals and must have hit the wrong switch. We are on the solution now
[2017-01-05 06:23:59] javierstone : Speran49: its mercury in retrograde
[2017-01-05 06:24:01] rowrow : k
[2017-01-05 06:24:05] immackay : I'm down at 0.01 in this account now
[2017-01-05 06:24:09] immackay : put it all on long
[2017-01-05 06:24:13] immackay : let's do it
[2017-01-05 06:24:38] mariomarco : 100x You Only Leverage Once
[2017-01-05 06:24:40] mariomarco : YOLO
[2017-01-05 06:24:46] Speran49 : something tells me Immackay youre not using proper risk management
[2017-01-05 06:25:00] Speran49 : never trade more than 5% of your acct in any one trade
[2017-01-05 06:25:04] MikeHunt : immackay: ur total balance is 0.01?
[2017-01-05 06:25:20] immackay : Speran49: I didn't when I first started, back in december
[2017-01-05 06:25:29] immackay : MikeHunt: yup, up from 0.006
[2017-01-05 06:25:44] MikeHunt : immackay: did u get rekt or something?
[2017-01-05 06:25:46] MikeHunt : what u start with?
[2017-01-05 06:25:46] 2102 : Bitmex..... We don't need another Gox!! ?
[2017-01-05 06:26:01] immackay : Speran49: I had gone on holiday in december and din't have time to watch the markets and just continued to make bad trade after bad trade
[2017-01-05 06:26:07] m3s : 2102: what you talking about
[2017-01-05 06:26:28] Speran49 : immackay: yeah it happens sorry to hear :(
[2017-01-05 06:26:31] immackay : MikeHunt: started with like 0.2, went up to 4.2, then down to 0.006
[2017-01-05 06:26:37] Speran49 : immackay: i lost 6k in the normal markets so i feel your pain big time
[2017-01-05 06:26:41] immackay : thanks to the very first drop
[2017-01-05 06:26:52] MikeHunt : 2102: gox serves as an example of not to run with cash, apparently gox owner is getting shafted in jap prison
[2017-01-05 06:26:53] immackay : I don't really care, I just want to get back in the game
[2017-01-05 06:26:59] immackay : but it's difficult with 0.01
[2017-01-05 06:27:13] immackay : and I'm not willing to put in any more money, that's just dumb of me at this point
[2017-01-05 06:27:22] mariomarco : MikeHunt: dropsoap style EYOO
[2017-01-05 06:27:39] immackay : so I shall wait this out
[2017-01-05 06:27:48] immackay : let my alts grow a little
[2017-01-05 06:28:37] BitMEX_Sam : 2102: The issue is fixed.
[2017-01-05 06:28:39] mariomarco : "alts" "grow" "a little"
[2017-01-05 06:28:40] Speran49 : at is whee its at
[2017-01-05 06:28:48] Speran49 : alts grow a lot if youre smart
[2017-01-05 06:28:58] Speran49 : we started with $600 2 years ago
[2017-01-05 06:29:05] Speran49 : acct is now at over $8000
[2017-01-05 06:29:45] immackay : mariomarco: not sure what your point is
[2017-01-05 06:30:20] immackay : Speran49: yeah, I started with 0.1 in my alt account, it's going up slowly
[2017-01-05 06:30:34] immackay : only started trading last month (which is likely why I fucked up hardcore)
[2017-01-05 06:30:45] Speran49 : wow yeah you need to take your time
[2017-01-05 06:30:52] immackay : should have just held my bitcoin through this rally
[2017-01-05 06:30:57] Speran49 : ive been at this for 6 years and im still not that good at it lol
[2017-01-05 06:31:02] immackay : eh, it's a learning experience and I don't really mind
[2017-01-05 06:31:05] 2102 : Many thanks BitMex! Great support here.
[2017-01-05 06:31:08] MikeHunt : immackay: did you have leverage on that long?
[2017-01-05 06:31:11] immackay : I haven't lost much
[2017-01-05 06:31:24] QuantFocus : BitMEX_Sam: @BitMEX_Greg can you guys confirm, would a funding rate increase be accompanied by a reduction in leverage?
[2017-01-05 06:31:32] Speran49 : likely heading down here
[2017-01-05 06:31:34] Speran49 : https://www.tradingview.com/x/Iu03OJqi/
[2017-01-05 06:31:39] immackay : MikeHunt: yeah, when I made the 4 btc I used 100x leverage lol
[2017-01-05 06:31:54] immackay : then bought again at the top cause I was giddy from winnning
[2017-01-05 06:32:03] MikeHunt : immackay: they say you only 100x once
[2017-01-05 06:32:08] MikeHunt : immackay: then ur x.x
[2017-01-05 06:32:09] immackay : lesson one: don't do that
[2017-01-05 06:32:15] BitMEX_Sam : QuantFocus: We have not decided on a mechanism just yet; but increasing the funding rate per interval would require increasing initial margin to prevent instant liquidations
[2017-01-05 06:32:17] MikeHunt : immackay: im doing 10x but that's calculated
[2017-01-05 06:32:33] Speran49 : https://www.google.com/trends/explore?date=now%207-d&q=bitcoin
[2017-01-05 06:32:37] BitMEX_Sam : We will give ample notice if and when any changes are made
[2017-01-05 06:32:38] Speran49 : ^this is also important
[2017-01-05 06:32:45] rowrow : are you guys still seeing the 96401 liquidation at 1162 from like an hour ago?
[2017-01-05 06:32:46] Speran49 : to determine btc sentiment
[2017-01-05 06:32:48] immackay : MikeHunt: I still use 50x once in a while
[2017-01-05 06:32:55] QuantFocus : BitMEX_Sam: ok thanks
[2017-01-05 06:32:56] Speran49 : 50x is the best imo
[2017-01-05 06:33:00] Gekko : Swap versus index kinda crazy ATM...makes me not want to trade something as divorced from reality
[2017-01-05 06:33:19] j8 : BitMEX_Sam: can you confirm that the insurance fund for the swap is empty?
[2017-01-05 06:33:21] QuantFocus : BitMEX_Sam: wait, an increase in initial margin requirements? or reduction?
[2017-01-05 06:33:30] MikeHunt : immackay: i wouldnt use it unless ur calculating ahead or the fees will rape you
[2017-01-05 06:33:35] Gekko : takimg the cap off funding would bring it back no?
[2017-01-05 06:33:37] QuantFocus : Wouldn't increase cause the liquidations?
[2017-01-05 06:33:45] elmorte : Is USD slipping against other currencies as well or just CNH?
[2017-01-05 06:33:54] MikeHunt : immackay: also did u let the negative RoE get Out of control?
[2017-01-05 06:34:02] BitMEX_Sam : QuantFocus: Increase in IM would not affect existing positions, but a higher funding rate would, so any such change would have to be done very carefully
[2017-01-05 06:34:24] Speran49 : MikeHunt: where do fees rape you for 50x?
[2017-01-05 06:34:25] QuantFocus : ah ok
[2017-01-05 06:34:25] BitMEX_Sam : An increase in IM requirements = a decrease in initial leverage
[2017-01-05 06:34:39] QuantFocus : would MM be increased as well?
[2017-01-05 06:34:47] BitMEX_Sam : Likely no.
[2017-01-05 06:35:01] QuantFocus : cause that would also screw positions
[2017-01-05 06:35:19] MikeHunt : Speran49: fees are effectivly 50x
[2017-01-05 06:35:48] QuantFocus : BitMEX_Sam: anyhow, sounds like you guys are giving it some time to evolve
[2017-01-05 06:35:57] MikeHunt : eg: bitcoin = 1000$, you put $1000 @ x50, thats 50k contracts, effectively 0.375% x50
[2017-01-05 06:36:05] immackay : MikeHunt: I've done a lot of studying over the last couple weeks since my big loss
[2017-01-05 06:36:24] MikeHunt : immackay: the ammount it has to go up b4 u realise profit is quite high
[2017-01-05 06:36:29] BitMEX_Sam : Right; we are evaluating all possible improvements and any changes will be made with the utmost care and advance warning.
[2017-01-05 06:36:40] immackay : MikeHunt: true
[2017-01-05 06:36:41] BitMEX_Sam : I'm off to bed; Arthur will be here overnight. Happy trading everyone.
[2017-01-05 06:36:54] immackay : MikeHunt: I'm not using it right now if that's what you're asking
[2017-01-05 06:37:04] MikeHunt : immackay: you need to make sure u calculate A) btc will go higher than fee amount b) corrections on the way dont liq you
[2017-01-05 06:37:04] QuantFocus : BitMEX_Sam: thanks sam, take care
[2017-01-05 06:37:14] elmorte : BitMEX_Sam: night bud!
[2017-01-05 06:37:26] immackay : MikeHunt: yeah, I thought that went without saying?
[2017-01-05 06:38:08] MikeHunt : immackay: i didnt know that at first hence i lost 1btc
[2017-01-05 06:38:14] MikeHunt : immackay: just making sure u knew
[2017-01-05 06:38:38] immackay : MikeHunt: yeah I think originally I probably lost a rather small amount from fees but I noticed fairly quickly
[2017-01-05 06:38:56] immackay : all in short guys let's go
[2017-01-05 06:41:17] Speran49 : yuan just madea new low
[2017-01-05 06:41:28] Speran49 : we can't really breakdown till that stops
[2017-01-05 06:42:07] rapidtrades : wow yuan at 6.78
[2017-01-05 06:42:59] elmorte : The spread between finex and Huobi according to the CNH rate is $150!
[2017-01-05 06:43:04] immackay : oh well, I'll play more tomorrow
[2017-01-05 06:43:14] immackay : cheers guys
[2017-01-05 06:43:37] MikeHunt : Speran49: its fake
[2017-01-05 06:43:49] Speran49 : MikeHunt: ?
[2017-01-05 06:43:49] MikeHunt : Speran49: PBOC sets number
[2017-01-05 06:43:55] MikeHunt : Speran49: its not market price
[2017-01-05 06:44:00] elmorte : MikeHunt: not the CNH
[2017-01-05 06:44:26] Speran49 : MikeHunt: so its not causing btc to go higher? I think it still has a very real impact. More asian want out of yuan so they go into btc as yuan goes down
[2017-01-05 06:45:02] thomaskikansha : CNH is market price CNY is PBOC price
[2017-01-05 06:46:02] m3s : can I short bitstamp stock ?
[2017-01-05 06:46:06] elmorte : yup...and CNH is getting stronger, which runs contrary to the bull market logic
[2017-01-05 06:46:35] l3f : So uhnn what's wrong with bitstamp?
[2017-01-05 06:47:04] MikeHunt : elmorte: CNH is also fake
[2017-01-05 06:47:14] MikeHunt : elmorte: CNH runs on sentiment
[2017-01-05 06:47:34] MikeHunt : elmorte: actual value of CNY is hidden behind corruption
[2017-01-05 06:47:48] elmorte : MikeHunt: it's real enough for me, I use it regularly as a refernce
[2017-01-05 06:47:50] MikeHunt : elmorte: bitcoin seems to suggest the real value may be a lot lower
[2017-01-05 06:47:56] l3f : BitMEX_Arthur: will bitmex do anything about bitstamp?
[2017-01-05 06:48:06] l3f : it's messing up the index by being illiquid
[2017-01-05 06:48:17] MikeHunt : elmorte: problem in china is your avg chang doesnt have a choice but to use CNY
[2017-01-05 06:48:25] elmorte : MikeHunt: That is true
[2017-01-05 06:48:40] elmorte : But suggesting bitcoin is more real than CNH or CNY is far out :)
[2017-01-05 06:48:41] j8 : index doesn't even matter anymore, swap has a life of its own
[2017-01-05 06:49:31] l3f : Who trades on bitstamp?
[2017-01-05 06:49:40] arbitrage001 : j8: can be a good thing for some
[2017-01-05 06:49:46] arbitrage001 : <----
[2017-01-05 06:50:10] m3s : l3f: you can trade there ?
[2017-01-05 06:50:18] arbitrage001 : shorted too early, tend to be mistake most traders make
[2017-01-05 06:50:22] m3s : :D
[2017-01-05 06:50:27] l3f : m3s: no as in it's not moving
[2017-01-05 06:50:29] l3f : at all
[2017-01-05 06:50:51] m3s : i know, was a joke
[2017-01-05 06:51:09] arbitrage001 : funding rate is unsustainable across all exchanges
[2017-01-05 06:51:16] arbitrage001 : this will not end well
[2017-01-05 06:51:19] arbitrage001 : for long
[2017-01-05 06:51:36] mariomarco : arbitrage001: how do we abuse this
[2017-01-05 06:51:41] arbitrage001 : if adl kick in, short will not end well also
[2017-01-05 06:51:47] MikeHunt : arbitrage001: +1
[2017-01-05 06:51:51] REKT : Liquidated long on `XBCH17`: sell 2000 @ 9363.3
[2017-01-05 06:51:58] MikeHunt : i think im being raped on fees
[2017-01-05 06:52:21] MikeHunt : when does 1000 contracts @ x10 break even?
[2017-01-05 06:52:28] MikeHunt : entry at 1150
[2017-01-05 06:53:03] MikeHunt : interest iirc is $24 a day
[2017-01-05 06:53:07] shiroe : 4dollars.
[2017-01-05 06:53:33] BitMEX_Arthur : l3f: We will not be changing the index weights without a 14 day notice period, so for now it stays the same
[2017-01-05 06:53:43] BitMEX_Arthur : We are discussing whether to add gdax to the index
[2017-01-05 06:53:53] QuantFocus : MikeHunt: max funding is 1.125%/day
[2017-01-05 06:53:56] mariomarco : why is the index/mark price important anyway?
[2017-01-05 06:53:58] BitMEX_Arthur : but nothing is final yet, and there will be a 14 day notice period before any changes are made
[2017-01-05 06:54:08] j8 : yeah gdax :+1:
[2017-01-05 06:54:08] MikeHunt : QuantFocus: maximum fee is 1.125% ?
[2017-01-05 06:54:10] shiroe : flash incoming..
[2017-01-05 06:54:13] l3f : mariomarco: futures are settled on it
[2017-01-05 06:54:17] QuantFocus : funding. yes
[2017-01-05 06:54:21] mariomarco : l3f: aaah
[2017-01-05 06:54:21] QuantFocus : .375% x3
[2017-01-05 06:54:44] l3f : BitMEX_Arthur: Cool, let us know if things change
[2017-01-05 06:54:50] mariomarco : huobi strugling to maintain 8800
[2017-01-05 06:54:51] l3f : bfx has more volume than stamp now
[2017-01-05 06:54:58] QuantFocus : 'fees' are only paid on open and close if you use market
[2017-01-05 06:55:26] MikeHunt : QuantFocus: where does it say funding capped at x3 ?
[2017-01-05 06:55:36] QuantFocus : well, how many hours are there in a day?
[2017-01-05 06:55:42] QuantFocus : funding occurs every 8 hours
[2017-01-05 06:55:48] QuantFocus : so per day, max is 1.125%
[2017-01-05 06:55:49] MikeHunt : so $24 a day then?
[2017-01-05 06:55:56] mariomarco : QuantFocus: times your leverage
[2017-01-05 06:55:57] MikeHunt : QuantFocus: hmm
[2017-01-05 06:55:57] QuantFocus : not on 1000 contracts
[2017-01-05 06:56:11] QuantFocus : mariomarco: leverage doesn't matter
[2017-01-05 06:56:15] QuantFocus : it's on notional
[2017-01-05 06:56:35] mariomarco : oh really, i figured its multiplied by lvrg
[2017-01-05 06:56:43] QuantFocus : 1.125% x 1000 = $11.25 per day
[2017-01-05 06:56:55] l3f : multiply funding rate to the size of your position
[2017-01-05 06:57:22] mariomarco : l3f: so leverage does mat
[2017-01-05 06:57:29] mariomarco : matter
[2017-01-05 06:57:36] QuantFocus : not for absolute cost
[2017-01-05 06:57:37] elmorte : mariomarco: no, never did
[2017-01-05 06:57:38] brouk : mariomarco: no
[2017-01-05 06:57:43] l3f : mariomarco: leverage doesn't change the size of your position
[2017-01-05 06:57:52] QuantFocus : but if you're calculating it as a ratio of margin then it does
[2017-01-05 06:57:52] nOgAnOo : I'm changing my middle name to "rekt"
[2017-01-05 06:57:55] l3f : just how much margin is required to keep it
[2017-01-05 06:58:00] elmorte : nOgAnOo: he's aliiiive
[2017-01-05 06:58:05] brouk : mariomarco: leverage just changes amount of margin used
[2017-01-05 06:58:05] nOgAnOo : Hey man
[2017-01-05 06:58:14] nOgAnOo : Life has changed drastically since I got rekt
[2017-01-05 06:58:17] nOgAnOo : Haven't eaten
[2017-01-05 06:58:21] mariomarco : lol
[2017-01-05 06:58:32] nOgAnOo : I'm changing everything
[2017-01-05 06:58:35] nOgAnOo : I quit smoking weed
[2017-01-05 06:58:45] QuantFocus : there's your problem
[2017-01-05 06:58:56] nOgAnOo : Well, I'm rekt and can't get it :)
[2017-01-05 06:58:57] MikeHunt : so 50000 contracts @ x10 would be 50000 * 0.375% *
[2017-01-05 06:59:05] MikeHunt : oops
[2017-01-05 06:59:17] QuantFocus : 50k contracts is 50k contracts
[2017-01-05 06:59:33] QuantFocus : but yes, multiply that by the 8 hour funding rate
[2017-01-05 06:59:42] MikeHunt : QuantFocus: $908 per day?
[2017-01-05 06:59:52] elmorte : 50k contracts is 50k USD worth of a position...x funding
[2017-01-05 06:59:58] QuantFocus : 562
[2017-01-05 07:00:18] QuantFocus : but that's only during max funding, i.e. right now
[2017-01-05 07:00:26] MikeHunt : QuantFocus: its only gonna get worse
[2017-01-05 07:00:29] elmorte : 562.5
[2017-01-05 07:00:34] QuantFocus : it can't get worse
[2017-01-05 07:00:34] elmorte : per day
[2017-01-05 07:00:38] dharmabum : what's the quickest way of locking in USD value on a BTC balance (1:1)?
[2017-01-05 07:00:41] QuantFocus : we're at the daily cap
[2017-01-05 07:00:53] QuantFocus : dharmabum: short xbtusd
[2017-01-05 07:00:54] elmorte : dharmabum: sell at spot?
[2017-01-05 07:01:01] MikeHunt : QuantFocus: oh right
[2017-01-05 07:01:18] MikeHunt : where do you get 562.5 from?
[2017-01-05 07:01:27] QuantFocus : dharmabum: alternatively, right now i'd suggest shorting the xbth17
[2017-01-05 07:01:35] dharmabum : elmorte: so if I have 1.5BTC, sell 1.5BTC (worth of USD) at spot?
[2017-01-05 07:01:39] QuantFocus : MikeHunt: 50k x 1.125%
[2017-01-05 07:01:43] QuantFocus : to arrive at a daily cost
[2017-01-05 07:01:48] QuantFocus : during max funding
[2017-01-05 07:01:51] dharmabum : elmorte: spot=cross?
[2017-01-05 07:02:06] MikeHunt : QuantFocus: ahh yeh ty, my maths :/
[2017-01-05 07:02:13] dharmabum : QuantFocus: thx for the suggestion. Logic? :)
[2017-01-05 07:02:13] imapotato : spot is not cross
[2017-01-05 07:02:14] QuantFocus : no worries
[2017-01-05 07:02:18] KingTuna : $1600 WOW!
[2017-01-05 07:02:22] imapotato : completely different ideas
[2017-01-05 07:02:24] elmorte : dharmabum: no I meant like at spot exchange like finex
[2017-01-05 07:02:31] imapotato : 1600?
[2017-01-05 07:02:50] QuantFocus : dharmabum: the logic is that there is currently a $170 premium over spot. so shorting the future means you sell it for more than you would sell the spot for right now
[2017-01-05 07:02:51] dharmabum : elmorte: ah, ok!
[2017-01-05 07:03:02] elmorte : But here, you would just short 1.5 worth of XBT on swap
[2017-01-05 07:03:12] elmorte : and earn those sweet fees
[2017-01-05 07:03:16] QuantFocus : and since you just want to hedge, might as well sell it for more than you would sell it at spot, right?
[2017-01-05 07:03:18] elmorte : sorry, not fees, funding
[2017-01-05 07:03:41] elmorte : but yeah, sell at Mar 31 future is a better option and don't have to worry about funding
[2017-01-05 07:04:07] elmorte : depends on why you are hedging
[2017-01-05 07:04:54] dharmabum : XBTH? April 01?
[2017-01-05 07:05:06] QuantFocus : dharmabum: since this exchange offers leverage, you can also use less than the 1.5btc as collateral, and just trade like 5-10x leverage
[2017-01-05 07:05:07] brouk : 9000 CNY here we go
[2017-01-05 07:05:10] elmorte : HBTH17, 31 Mr
[2017-01-05 07:05:15] elmorte : 31. Mar
[2017-01-05 07:05:21] QuantFocus : deposit .15btc to short at 10x
[2017-01-05 07:05:26] elmorte : XBTH17...jesus
[2017-01-05 07:05:33] dharmabum : QuantFocus: roger that!
[2017-01-05 07:05:40] dharmabum : elmorte: lol
[2017-01-05 07:06:10] dodic : So if you are short the swap funding rate is supposed to emulate the premium decay on a future right?
[2017-01-05 07:06:10] elmorte : dharmabum: when do you want to withdraw it, that's the main question
[2017-01-05 07:06:36] dharmabum : elmorte: thx for thoughts. when? no time requirements on this BTC for me.
[2017-01-05 07:07:08] QuantFocus : dodic: it's really intended to keep the premium discount in check with spot
[2017-01-05 07:07:09] dharmabum : what is everybody thinking about BTC currently?
[2017-01-05 07:07:18] brouk : moon
[2017-01-05 07:07:19] QuantFocus : but as we can see here it's not currently working
[2017-01-05 07:07:32] QuantFocus : prem and or discount*
[2017-01-05 07:08:00] dharmabum : Seems like the Chinese pressure on exchange is pushing BTC as main factor right now.
[2017-01-05 07:08:05] QuantFocus : people essentially borrow for free here unless there is a funding premium
[2017-01-05 07:08:06] dharmabum : Happy to be wrong !
[2017-01-05 07:08:43] QuantFocus : and low / zero interest with 100x leverage means we disconnect with spot
[2017-01-05 07:09:01] dodic : QuantFocus: I see, and the current funding is too low to keep the price in check given the volatility?
[2017-01-05 07:09:10] QuantFocus : correct
[2017-01-05 07:09:33] dodic : QuantFocus: thanks :)
[2017-01-05 07:09:46] QuantFocus : :+1:
[2017-01-05 07:10:22] QuantFocus : you never really see that, but we're in unusual times
[2017-01-05 07:11:50] dharmabum : QuantFocus: If I went short XBTH17 instead of shorting at current price, what would be the benefit there? (apologies for the basic Qs)
[2017-01-05 07:12:23] QuantFocus : you get to sell it at 1310 instead of 1170
[2017-01-05 07:12:56] QuantFocus : it's 12% higher
[2017-01-05 07:13:31] dharmabum : QuantFocus: Right. And in either case, if BTC appreciates beyond that point (current price, or $1310) the position loses $.
[2017-01-05 07:13:43] QuantFocus : exactly
[2017-01-05 07:14:04] elmorte : Same will happen with SWAP, but you don't have to worry about funding fees with futures.
[2017-01-05 07:14:08] QuantFocus : but if you just want to hedge your 1.5btc, you're just trying to lock in the USD value as of today
[2017-01-05 07:14:36] QuantFocus : so while the position loses btc, the USD/Local Currency amount stays the same
[2017-01-05 07:15:40] dharmabum : QuantFocus: Roger that. And if the short is at 1x, then how does that impact?
[2017-01-05 07:16:01] QuantFocus : it just means you deposit the full value of the position you want to short as collateral
[2017-01-05 07:16:12] dodic : wow usd lending rate on bitfinex is 0.25%
[2017-01-05 07:16:27] dodic : daily
[2017-01-05 07:17:38] dharmabum : QuantFocus: yup OK. but if I consider BTC is likely to run into headwinds by April1 2017 I'm better off shorting XBTH17
[2017-01-05 07:17:54] dharmabum : QuantFocus: for reasons you outlined
[2017-01-05 07:18:14] QuantFocus : that's one way to look at it
[2017-01-05 07:18:34] dharmabum : QuantFocus: great answer!
[2017-01-05 07:18:41] QuantFocus : haha
[2017-01-05 07:18:59] imapotato : 8888 incoming again
[2017-01-05 07:19:13] dharmabum : imapotato: ?
[2017-01-05 07:19:35] imapotato : dharmabum: ?
[2017-01-05 07:19:50] dharmabum : imapotato: 8888? lucky numbers?
[2017-01-05 07:19:53] narnarfromnarnia : you guys read the news about okcoin
[2017-01-05 07:20:00] narnarfromnarnia : someone got rekt 10M in btc
[2017-01-05 07:20:09] QuantFocus : this morning
[2017-01-05 07:20:14] narnarfromnarnia : reddit.com/r/BitcoinMarkets/comments/5m0n38/the_1_contract_holder_on_okcoin_futures_just_got/
[2017-01-05 07:20:15] imapotato : I pasted the news here.
[2017-01-05 07:20:22] narnarfromnarnia : insane
[2017-01-05 07:20:22] cryptobull : narnarfromnarnia: probably a hedge
[2017-01-05 07:20:30] imapotato : insane indeed
[2017-01-05 07:20:33] imapotato : never short btc
[2017-01-05 07:20:51] mutato : 10 mil now thats an epic rekt
[2017-01-05 07:21:03] narnarfromnarnia : yeah i was rekt so many times, feel like total idiot shorting 1050
[2017-01-05 07:21:17] QuantFocus : imapotato: ask sleger about shorting btc
[2017-01-05 07:21:19] narnarfromnarnia : now these swings are getting really unpredictable
[2017-01-05 07:21:28] cryptobull : donæt short... buy the dips
[2017-01-05 07:21:36] imapotato : BTFDs
[2017-01-05 07:21:47] narnarfromnarnia : cryptobull: totally right
[2017-01-05 07:21:51] imapotato : I got rekt twice by using too much margin in my longs.
[2017-01-05 07:21:58] narnarfromnarnia : the market is getting so huge
[2017-01-05 07:22:06] narnarfromnarnia : whales are no longer whales
[2017-01-05 07:22:09] imapotato : New strategy works great. 4x long, and buy on the dips to bump it back up to 4x when the leverage drops due to profit.
[2017-01-05 07:22:11] narnarfromnarnia : or was that whale wars
[2017-01-05 07:22:27] narnarfromnarnia : imapotato: yeah that's a great one
[2017-01-05 07:22:41] narnarfromnarnia : this could totally go to 4k
[2017-01-05 07:23:15] imapotato : Yeah, I was being too greedy. Trying to double my money on small $20 rises.
[2017-01-05 07:23:25] imapotato : Best plan is to leverage conservatively and make returns on the entire rally.
[2017-01-05 07:25:09] narnarfromnarnia : pigs get slaughtered
[2017-01-05 07:25:17] narnarfromnarnia : im officially a pig
[2017-01-05 07:25:22] narnarfromnarnia : actually bacon bits
[2017-01-05 07:25:30] elmorte : crispy?
[2017-01-05 07:25:47] narnarfromnarnia : well it makes me feel slightly better about a 3btc loss
[2017-01-05 07:27:33] odieoh : I have mixed feelings about my short
[2017-01-05 07:27:49] imapotato : oh god you didn't short btc did you?
[2017-01-05 07:27:50] imapotato : you had a family!
[2017-01-05 07:27:51] odieoh : On the one hand, I really don't like having my nuts on the chopping block, waiting for the axe to fall
[2017-01-05 07:28:15] odieoh : On the other hand, receiving .5 BTC every 8 hours while I wait for the axe is nice
[2017-01-05 07:28:56] odieoh : The trick is to yank them off soon enough I guess
[2017-01-05 07:29:00] j8 : don't overdo it and your nuts will be fine
[2017-01-05 07:29:51] QuantFocus : odieoh: you're short 150k?
[2017-01-05 07:30:08] odieoh : ya (but hedged)
[2017-01-05 07:30:16] QuantFocus : nice
[2017-01-05 07:30:25] QuantFocus : if you can time it right you can really make some money
[2017-01-05 07:30:34] QuantFocus : that's the tricky part though
[2017-01-05 07:30:55] odieoh : Actually if you hedge enough, don't have to have great timing; I started shorting around 1000
[2017-01-05 07:30:57] narnarfromnarnia : i missed it today was there some mega rekts today?
[2017-01-05 07:31:02] odieoh : scalping my way along
[2017-01-05 07:31:03] shiroe : to sleep or not to sleep..
[2017-01-05 07:31:08] imapotato : narnarfromnarnia: plenty of rekt shorts
[2017-01-05 07:31:09] odieoh : and the interest helps a TON
[2017-01-05 07:31:16] narnarfromnarnia : im sure any large ones?
[2017-01-05 07:31:30] narnarfromnarnia : everyone was playing 1150 > 800's on tradingview
[2017-01-05 07:32:09] QuantFocus : odieoh: right, but you want to drop your hedge at the right time to max profits
[2017-01-05 07:32:47] BitMEX_Arthur : Guys we are thinking about doing a prediction market on whether the COIN ETF gets approved on March 11th, thoughts?
[2017-01-05 07:33:11] imapotato : BitMEX_Arthur: Be very specific with the wording of the contract.
[2017-01-05 07:33:13] imapotato : No loose ends.
[2017-01-05 07:33:16] odieoh : @quantfocus right, but trying that is the only thing that screwed me; I dropped it too soon and then got nervous as it rose; bought back into it (and a good thing too)
[2017-01-05 07:33:25] dharmabum : BitMEX_Arthur: XTRUMP
[2017-01-05 07:33:34] QuantFocus : odieoh: :+1:
[2017-01-05 07:33:43] QuantFocus : BitMEX_Arthur: payout is binary?
[2017-01-05 07:34:21] REKT : Liquidated long on `LTC7D`: sell 754 @ 0.004010
[2017-01-05 07:34:35] BitMEX_Arthur : Yes binary
[2017-01-05 07:34:44] BitMEX_Arthur : if they delay or deny it settles at 0
[2017-01-05 07:34:48] QuantFocus : i like it
[2017-01-05 07:34:49] BitMEX_Arthur : if they approve, it settles at 1
[2017-01-05 07:34:55] nOgAnOo : Arthur, prediction markets rock! Please do it.
[2017-01-05 07:35:00] BitMEX_Arthur : the contract notional will be 0.01 XBT
[2017-01-05 07:35:18] imapotato : +1 to prediction markets, but they suck if you don't have liquidity
[2017-01-05 07:35:36] BitMEX_Arthur : No matter the market, lack of liquidity sucks
[2017-01-05 07:35:46] dharmabum : BitMEX_Arthur: Would that run alongside the other contracts or on a separate screen?
[2017-01-05 07:36:11] QuantFocus : i could see the liquidity being an issue, but i like the idea
[2017-01-05 07:36:39] imapotato : It seems like a hard one to estimate, too.
[2017-01-05 07:37:17] imapotato : We have lots of data for elections, weather, sports, and other common prediction market contracts.
[2017-01-05 07:37:31] REKT : Liquidated long on `XBCH17`: sell 4000 @ 9420.2
[2017-01-05 07:37:36] imapotato : I'm not sure how easy it would be to estimate the odds for a decision unless you're an insider.
[2017-01-05 07:38:30] imapotato : https://www.google.com/trends/explore?q=how%20to%20buy%20bitcoin
[2017-01-05 07:38:44] FUNKYCHI : Buy price is crap compared to market price
[2017-01-05 07:39:09] QuantFocus : FUNKYCHI: should have gotten here sooner
[2017-01-05 07:39:21] happy : wow this is like 3 dollars different
[2017-01-05 07:39:43] kekkyojin_irc : tell me dumb, but I have just discovered that leverage can be modified dynamically when position is open :’)
[2017-01-05 07:39:58] FUNKYCHI : QuantFocus: Been watching for a month. The buy price and market price has never been this bad.
[2017-01-05 07:39:58] dharmabum : happy: arb opportunity for you?
[2017-01-05 07:40:07] odieoh : I was reading some ancient Cherokee manuscripts today and I came across a text that an old medicine man wrote about an event that was to take place on Jan 5th, 2017
[2017-01-05 07:40:13] imapotato : kekkyojin_irc: cross ftw though
[2017-01-05 07:40:23] odieoh : He saw a large red candle descending from the sky
[2017-01-05 07:40:32] QuantFocus : lol
[2017-01-05 07:40:34] dharmabum : kekkyojin_irc: as of Dec 23rd
[2017-01-05 07:40:36] QuantFocus : :whale:
[2017-01-05 07:40:40] odieoh : with a Wick soo long, some say it fell down to 750
[2017-01-05 07:40:50] odieoh : They called it "The Wickening"
[2017-01-05 07:40:55] kekkyojin_irc : imapotato: yes, it was opened as cross
[2017-01-05 07:41:27] imapotato : I would btfd but I'm already at 4x
[2017-01-05 07:41:29] dharmabum : kekkyojin_irc: actually I got that wrong. I admit it.
[2017-01-05 07:41:29] imapotato : I should get sleep.
[2017-01-05 07:46:08] DylanT : 64 Mil 24 hour volume, congrats bitmex
[2017-01-05 07:47:21] imapotato : I wonder how the MM is making out in all of this.
[2017-01-05 07:47:30] emperortrump : is it possible here to set a stop loss after a trade has been made ?
[2017-01-05 07:47:44] imapotato : Think they've incidentally built up a large short? long?
[2017-01-05 07:47:50] imapotato : Think they're making a lot of fees?
[2017-01-05 07:48:04] MikeHunt : if you hold a swap at 1 contract, does that sort of reserve your place?
[2017-01-05 07:48:09] MikeHunt : if you want to add to it later?
[2017-01-05 07:48:18] imapotato : MikeHunt: huh?
[2017-01-05 07:48:31] imapotato : You can add to the position, but you'd pay the new price.
[2017-01-05 07:49:09] MikeHunt : imapotato: just trying to calculate how this interest rate could be made profitable
[2017-01-05 07:49:35] odieoh : Put your nuts up on the chopping block; profit
[2017-01-05 07:51:20] imapotato : MikeHunt: you'd have to short btc
[2017-01-05 07:51:23] imapotato : never short btc
[2017-01-05 07:52:02] MikeHunt : imapotato: exactly
[2017-01-05 07:52:12] narnarfromnarnia : there was a lot of coins moved recently in blockchain i bet that was the guy who ate that whales short
[2017-01-05 07:52:24] narnarfromnarnia : something like 500k coins
[2017-01-05 07:52:41] narnarfromnarnia : but so risky to put on any exchange
[2017-01-05 07:52:45] imapotato : rip bearwhale
[2017-01-05 07:53:02] narnarfromnarnia : yeah and with coin etf possibly getting approved
[2017-01-05 07:53:06] narnarfromnarnia : weew lad
[2017-01-05 07:53:13] narnarfromnarnia : hodl
[2017-01-05 07:54:08] imapotato : hodl 4x
[2017-01-05 07:54:17] BitMEX_Arthur : dharmabum: Yes it would trade alongside just like any other contract
[2017-01-05 07:55:46] Papou : we wont bull ride until march without anyone taking profit from this parabolic rise...
[2017-01-05 07:56:59] aethlios : BitMEX_Arthur: better try to build an options market, swap or 3month as underlying, +-50 usd strike prices. volumes going up now, market ready for that.
[2017-01-05 07:57:13] moo : the moment china lets it go it will collapse
[2017-01-05 07:57:31] imapotato : I still can't believe quarterly premium is $160
[2017-01-05 07:57:37] moo : and you never know what they are going to do
[2017-01-05 07:57:42] nOgAnOo : Yes, BTC will go back to 800 or 700
[2017-01-05 07:58:11] imapotato : also I think I just ate moldy bread
[2017-01-05 07:58:12] imapotato : fuck
[2017-01-05 07:58:23] imapotato : Do I throw up or just ride it out?
[2017-01-05 07:58:31] nOgAnOo : This is why the bible says "daily bread"
[2017-01-05 07:58:33] Papou : ride it
[2017-01-05 07:58:36] nOgAnOo : not "2 week old bread"
[2017-01-05 07:58:39] rms : coin ETF was delayed again. honestly probably better so that it can't get rejected and crush the rally
[2017-01-05 07:58:50] rms : http://www.marketwatch.com/story/bitcoin-rally-boosts-rival-digital-currencies-2017-01-04
[2017-01-05 07:58:56] imapotato : It's two weeks old.
[2017-01-05 07:58:58] imapotato : Got it for christmas.
[2017-01-05 07:59:14] odieoh : Mold is great, that's where penicillin comes from. Eat up!
[2017-01-05 07:59:24] moo : i dont think china cares about ETF at all