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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[2015-02-28 12:36:25] BitMEX_Wally : Put a space after < otherwise it is interpreted as HTML
[2015-02-28 12:36:35] wouhao : Thx
[2015-02-28 12:37:09] wouhao : when excess margin <0, I enter margin call, also named liquidation state
[2015-02-28 12:37:40] wouhao : when excess margin < 0, I enter margin call, also named liquidation state
[2015-02-28 12:38:02] BitMEX_Wally : Yes
[2015-02-28 12:38:24] BitMEX_Wally : We try and close open orders first, to avoid liquidation
[2015-02-28 12:38:27] wouhao : OK, margin call state and enter margin call make me confused
[2015-02-28 12:38:35] wouhao : yes
[2015-02-28 12:38:48] wouhao : to increase the excess margin
[2015-02-28 12:39:21] BitMEX_Wally : Open orders require initMargin so closing them increases the excess margin
[2015-02-28 12:39:35] wouhao : yeap
[2015-02-28 12:39:38] BitMEX_Wally : Open positions require maintMargin so closing them increases excess margin
[2015-02-28 12:39:48] BitMEX_Wally : Then finally, depositing more Bitcoin will increase excess margin :)
[2015-02-28 12:40:30] wouhao : :)
[2015-02-28 12:41:02] BitMEX_Wally : wouhao: You are asking lots of good questions. This is very helpful, we want to improve our documentation
[2015-02-28 12:41:58] wouhao : Thanks, you're so wonderful.
[2015-02-28 13:17:14] wouhao : Initial margin (IM) for sell orders is calculated using the limit offer price or the best bid for that contract, whichever is higher
[2015-02-28 13:17:27] wouhao : why is higher not lower?
[2015-02-28 13:18:13] BitMEX_Arthur : the higher the executed price, the more initial margin must be placed, so we provision for the worst case scenario based on your limit price
[2015-02-28 13:18:42] wouhao : the lower price is, the more initial margin must be needed
[2015-02-28 13:18:53] wouhao : XBU contract
[2015-02-28 13:19:12] BitMEX_Arthur : sorry that's for the XBT chain, for the XBU the lower the price the more margin
[2015-02-28 13:19:14] BitMEX_Arthur : you are correct
[2015-02-28 13:20:20] wouhao : XBT chain not good, the XBT price is change, but the multiplier is always 0.0001xbt
[2015-02-28 13:21:12] BitMEX_Arthur : well depends on your point of view, if you are bullish on XBT, then your gains in USD terms are non linear
[2015-02-28 13:21:14] BitMEX_Arthur : on the upside
[2015-02-28 13:21:23] BitMEX_Arthur : and on the downside you losses are dampened in USD terms
[2015-02-28 13:24:09] wouhao : if the XBT's order book is 1 USD how much xbt, the multiplier is always 0.0001 xbt would be better
[2015-02-28 13:24:37] BitMEX_Arthur : well then it's the XBU chain which has a fixed USD amount per contract
[2015-02-28 13:29:06] wouhao : in XBU chain, for long position, the XBTUSD index gain 10%, the position's PNL would gain 10% too in USD. it's line.
[2015-02-28 13:29:24] BitMEX_Arthur : you mean `XBT`
[2015-02-28 13:29:29] BitMEX_Arthur : sorry
[2015-02-28 13:29:34] BitMEX_Arthur : i understand what you are saying
[2015-02-28 13:29:46] BitMEX_Arthur : for `XBU` each contract is always worth $100 of Bitcoin
[2015-02-28 13:30:15] wouhao : so in XBT chain, for long position, the USDXBT index gain 10%, the position's PNL would gain 10% 10% in xbt, it's line
[2015-02-28 13:30:23] BitMEX_Arthur : correct
[2015-02-28 13:31:14] wouhao : so I think the XBT chain's book order be USDXBT would be better.
[2015-02-28 13:32:08] BitMEX_Arthur : what's the benefit, would it still be quoted in USD?
[2015-02-28 13:32:23] wouhao : no, in XBT
[2015-02-28 13:32:50] BitMEX_Arthur : everyone is used to seeing USD quoted, many Bitcoiners would be confused
[2015-02-28 13:33:07] wouhao : yeap
[2015-02-28 13:33:34] wouhao : but quoted in XBT would be more intuition
[2015-02-28 13:33:59] BitMEX_Arthur : a thought for the future, we don't want to add even more complexity
[2015-02-28 13:35:30] emeraldcrypto : hey
[2015-02-28 13:37:19] BitMEX_Arthur : guttentag
[2015-02-28 13:43:05] wouhao : Initial margin will not be charged on open bids that have a matching quantity in open offers. For example, if a trader bids $100 for 20 contracts and offers 15 contracts for $150, he will get charged initial margin on his bids for 5 contracts (20 - 15), and get charged initial margin on his offers for 15 contracts.
[2015-02-28 13:44:40] wouhao : if the bid order be filled first, is that would get charged initial margin on his offers for 15 contracts?
[2015-02-28 13:44:56] wouhao : still
[2015-02-28 14:40:34] wouhao : I still want ask some question
[2015-02-28 14:40:48] BitMEX_Arthur : be back shortly
[2015-02-28 14:53:52] wouhao : Previous PNL is the sum of your unrealized and realized profit and loss from when a position is initiated until the close of the previous trading session [(Trading Session Closing Price - Average Cost) Net Contracts Multiplier]. Previous PNL may be withdrawn to your external Bitcoin wallet.
[2015-02-28 14:55:37] wouhao : That's is to say the unrealized profite of previous trading session could be withdrawal, is that right?
[2015-02-28 14:55:40] BitMEX_Arthur : for your first question, after the 15 contracts get filled
[2015-02-28 14:56:00] BitMEX_Arthur : you now must post maintenance margin on the 15 contracts
[2015-02-28 14:56:12] BitMEX_Arthur : you must now post initial margin on the 15 open offers
[2015-02-28 14:58:22] BitMEX_Arthur : on `Previous PNL` please disregard I am updating the documents now
[2015-02-28 14:58:48] BitMEX_Arthur : do you understand `Unrealised PNL` and `Realised PNL` those are the two terms we will now exclusively be using
[2015-02-28 14:59:04] wouhao : yes
[2015-02-28 14:59:09] wouhao : I understand
[2015-02-28 14:59:42] wouhao : I trade in okcoin, I know this concept.
[2015-02-28 15:02:38] wouhao : after my 20 bid order get filled, I still have 15 offer order in open, so I think I would not charged the 15 offer order initial margin, but I should charged 15 long position's maintenance margin.
[2015-02-28 15:03:16] wouhao : replace it
[2015-02-28 15:04:29] BitMEX_Arthur : Ok so you have 15 filled contracts
[2015-02-28 15:04:37] BitMEX_Arthur : and you have 15 offers on the market unfilled
[2015-02-28 15:04:47] wouhao : no, 20 filled contracts
[2015-02-28 15:05:09] BitMEX_Arthur : ok so the 20 filled contracts attract maint margin
[2015-02-28 15:05:12] wouhao : and I have 15 offers on the market unfilled
[2015-02-28 15:05:28] BitMEX_Arthur : your 15 contracts of unfilled offers attract initial margin of 30%
[2015-02-28 15:05:43] BitMEX_Arthur : when u had 15 / 15 of bid / offer of unfilled
[2015-02-28 15:05:58] BitMEX_Arthur : you only got charged initial margin on the offer side
[2015-02-28 15:06:05] BitMEX_Arthur : the bid side attracted no margin
[2015-02-28 15:06:13] BitMEX_Arthur : we do this to make it cheap to provide a two sided market
[2015-02-28 15:06:16] BitMEX_Arthur : that is delta neutral
[2015-02-28 15:08:28] wouhao : If my 20 bid order get filled only, the 15 offer order still need initial margin?
[2015-02-28 15:10:37] BitMEX_Arthur : correct
[2015-02-28 15:12:42] wouhao : but If I place the 20 bid order first, after get filled of these orders, then I place the 15 offer order, I would not be charged initial margin for the 15 offer order.
[2015-02-28 15:13:00] wouhao : is that right?
[2015-02-28 15:13:06] BitMEX_Arthur : think of it this way
[2015-02-28 15:13:15] BitMEX_Arthur : you place a two sided market 20 / 20
[2015-02-28 15:13:22] BitMEX_Arthur : you get charged initial margin on 20 on offer side
[2015-02-28 15:13:36] BitMEX_Arthur : if you have a one sided market bid or offer you get charged initial margin
[2015-02-28 15:13:46] BitMEX_Arthur : any filled open positions you get charged maintenance margin
[2015-02-28 15:14:13] BitMEX_Arthur : if you place an order that will reduce your overall position in that contract, you are not charged initial margin
[2015-02-28 15:17:04] wouhao : yes
[2015-02-28 15:19:34] wouhao : but now I hold 20 contracts long position, and have 15 offer of unfilled. the 15 offer of unfilled would reduce my long position, so I should not charged initial margin. but in this case, you told me I should charged it.
[2015-02-28 15:24:04] BitMEX_Arthur : sorry you are correct i see what your example is getting at
[2015-02-28 15:28:28] wouhao : he will get charged initial margin on his bids for 5 contracts (20 - 15), and get charged initial margin on his offers for 15 contracts.
[2015-02-28 15:28:59] wouhao : so I think this method to process the situation is not good
[2015-02-28 15:29:44] wouhao : The initial margin would be the max(bid of unfilled, offer of unfilled)
[2015-02-28 15:31:09] wouhao : no matter what side order be filled, the initial margin would be transfer into maintenance margin and session margin.
[2015-02-28 15:34:24] wouhao : certainly, if the filled order is reduce the position, only reduce the maintain margin and session margin. only increase the position's filled order would make the initial margin transfer into maintain margin and session margin
[2015-02-28 15:36:58] BitMEX_Wally : If you are long 20 contracts and have an offer of 15 contracts unfilled then you have to post maintenance for 20 contracts and no initial margin for the offer
[2015-02-28 15:37:30] wouhao : yes
[2015-02-28 15:37:32] BitMEX_Wally : If you are long 20 contracts and have an offer of 25 contracts unfilled, then you post maintenance margin for 20 contracts and initial margin for 5 contracts
[2015-02-28 15:37:41] wouhao : yeap
[2015-02-28 15:37:56] BitMEX_Wally : The maintenance margin is calculated using the last price (i.e. the gross value of the position)
[2015-02-28 15:38:07] wouhao : yeah
[2015-02-28 15:38:09] wouhao : Initial margin will not be charged on open bids that have a matching quantity in open offers. For example, if a trader bids $100 for 20 contracts and offers 15 contracts for $150, he will get charged initial margin on his bids for 5 contracts (20 - 15), and get charged initial margin on his offers for 15 contracts.
[2015-02-28 15:38:15] wouhao : https://www.bitmex.com/app/exchangeGuide
[2015-02-28 15:38:30] wouhao : the sentence is come from this URL
[2015-02-28 15:38:40] BitMEX_Wally : Sorry, I thought you were talking about a position of 20, not a bid of 20
[2015-02-28 15:40:01] wouhao : if the bid of 20 get filled first, would the offer of 15 need still be charged initial margin?]
[2015-02-28 15:40:16] BitMEX_Wally : If I have 0 position, and I bid 20 and offer 15, then I have to post initial margin for the 15 at the plus initial margin for the 5
[2015-02-28 15:40:20] BitMEX_Wally : Then if the bid is filled
[2015-02-28 15:40:50] BitMEX_Wally : I have a position of 20 and I post maintenance margin for the 20, and no initial margin for the offer of 15
[2015-02-28 15:41:21] BitMEX_Wally : So getting filled actually reduces the margin requirements
[2015-02-28 15:42:13] wouhao : no reduces in fact, the 10% would be in session margin
[2015-02-28 15:42:23] BitMEX_Wally : Yes, good point
[2015-02-28 15:42:33] BitMEX_Wally : But that session margin would disappear after the session
[2015-02-28 15:42:46] wouhao : yeap
[2015-02-28 15:43:04] BitMEX_Wally : We have a testnet environment where you can play around with our margin calculations without costing money: http://testnet.bitmex.com/
[2015-02-28 15:43:31] wouhao : so nice!
[2015-02-28 15:43:37] BitMEX_Wally : Also check out our API
[2015-02-28 15:43:53] BitMEX_Wally : There are lots of numbers calculated that you don't see on the front end
[2015-02-28 15:43:56] wouhao : Thanks very much
[2015-02-28 15:44:12] wouhao : that's right
[2015-02-28 15:44:28] BitMEX_Wally : https://www.bitmex.com/api/explorer/#!/position/find
[2015-02-28 15:46:27] BitMEX_Wally : `openOrderBuyQty` and `openOrderSellQty` and `currentQty` are used to calculate `long$openOrderBuyCost`
[2015-02-28 15:46:44] BitMEX_Wally : Then `openOrderBuyCost` is used to calculate initMargin for the position
[2015-02-28 15:47:09] BitMEX_Wally : Sorry, I mean `grossOpenCost`
[2015-02-28 15:47:19] BitMEX_Wally : Which is used to calculate `initMargin`
[2015-02-28 15:50:25] BitMEX_Wally : I'm heading offline now, catch you later
[2015-02-28 15:50:46] BitMEX_Wally : Please feel free to ask any questions in the trollbox or support@bitmex.com
[2015-02-28 15:50:58] wouhao : no problem
[2015-02-28 15:51:11] wouhao : Thank you a lot
[2015-02-28 15:54:01] wouhao : I should be offline now, see you next Monday~ I would miss you all
[2015-03-01 10:33:17] rhk : when is the next quanto contract listed?
[2015-03-01 10:56:28] BitMEX_Arthur : rhk: we will not be listing another XBT for a while
[2015-03-01 10:56:40] BitMEX_Arthur : We want to focus liquidity on XBU
[2015-03-01 18:02:04] floopfloop : BitMEX_Arthur: that's not good to hear :(
[2015-03-01 18:02:08] floopfloop : I like the XBT
[2015-03-01 22:11:58] TrevinHofmann : Should deposited be credited almost immediately after 1 confirmation?
[2015-03-01 22:12:22] BitMEX_Arthur : TrevinHofmann: Yes
[2015-03-01 22:12:43] TrevinHofmann : Woah, thanks for the quick reply :)
[2015-03-01 22:13:18] TrevinHofmann : Still waiting for a deposit to be credited. It's been at 1 confirmation for a few minutes.
[2015-03-01 22:13:52] TrevinHofmann : I'm not in any hurry, but it used to be nearly instant if I recall. Just a heads up ;)
[2015-03-01 22:14:18] BitMEX_Arthur : can you shoot over an email to support@bitmex.com with the tx details so we can take a look thanks
[2015-03-01 22:16:12] TrevinHofmann : Sure, thanks!
[2015-03-02 00:49:11] gaoMex : BitMEX_Arthur: Same as @TrevinHofmann. Waiting for XBT to be credited.
[2015-03-02 01:01:04] BitMEX_Arthur : gaoMex: thanks we are fixing this now
[2015-03-02 01:01:23] BitMEX_Arthur : bear with us, sorry for the inconvenience
[2015-03-02 01:01:34] gaoMex : BitMEX_Arthur: Noted. Thanks.
[2015-03-02 01:10:57] TrevinHofmann : Deposit has been credited.
[2015-03-02 01:12:10] gaoMex : Confirm.
[2015-03-02 01:17:14] ccppcc : hey guys i have a question
[2015-03-02 01:17:36] ccppcc : where is drkcoin futures tab?
[2015-03-02 01:17:42] BitMEX_Arthur : We check three sources for blockchain information if they all do not match, errors are thrown. One of our sources has proven many times to have issues and we have disabled. We are sorry for the inconvenience.
[2015-03-02 01:17:55] BitMEX_Arthur : ccppcc: we do not have darkcoin futures, we only had them for our trading game
[2015-03-02 01:18:12] BitMEX_Arthur : we plan to have altcoin futures contracts in the near future depending on liquidity.
[2015-03-02 01:18:30] ccppcc : oh i c
[2015-03-02 01:18:42] ccppcc : thank for your answer
[2015-03-02 01:38:36] j8 : that sounds dangerous, although it would be interesting if it was based on an alt/btc index, not usd
[2015-03-02 01:39:19] BitMEX_Arthur : j8: which is why we have decided to stay out of the altcoin space for now. The LTC futures on other exchanges have massive socialised losses.
[2015-03-02 01:39:54] j8 : yup
[2015-03-02 01:41:10] j8 : find a way to make it work and it would be an industry first, i think
[2015-03-02 01:42:19] BitMEX_Arthur : i personally think darkcoin is a great project, but spot liquidity is tiny
[2015-03-02 01:43:32] TrevinHofmann : >One of our sources has proven many times to have issues
[2015-03-02 01:43:46] TrevinHofmann : blockchain.info, perhaps? :)
[2015-03-02 01:45:25] j8 : high altcoin volume may be a 2014 fad that died with mintpal
[2015-03-02 01:46:27] j8 : aside from ltd, cause china
[2015-03-02 01:46:32] j8 : *ltc
[2015-03-02 01:48:42] BitMEX_Arthur : 2014-2015 are the shake out years, good altcoins with actual innovations have a shot at least a couple i think
[2015-03-02 01:48:57] BitMEX_Arthur : if bitcoin starts ramping again people will want to speculate on anything crypto related
[2015-03-02 01:50:41] j8 : yeah no doubt
[2015-03-02 01:53:23] j8 : drk is interesting. i've always been sketched out by its awful launch
[2015-03-02 01:53:46] BitMEX_Arthur : what happened
[2015-03-02 01:54:19] BitMEX_Arthur : i know some of the devs they seem like honest guys
[2015-03-02 01:54:33] j8 : bad difficulty algorithm resulted in a huge amount of coins released in the first hour
[2015-03-02 01:55:05] j8 : take a look at the first day on a block explorer
[2015-03-02 01:55:41] j8 : i agree that everything about the development and community these days seems solid
[2015-03-02 01:57:02] BitMEX_Sam : j8: That's interesting, hadn't heard
[2015-03-02 01:57:16] BitMEX_Sam : But I see in an explorer, looks like a very large number of blocks solved almost simultaneously for 500 DRK rewards
[2015-03-02 01:57:43] j8 : yup
[2015-03-02 01:57:54] j8 : reward is < 5 every 2.5 mins these days
[2015-03-02 01:58:22] BitMEX_Sam : That start is a less conventional form of premining :)
[2015-03-02 01:58:37] j8 : its all been acknowledged many times by the devs
[2015-03-02 01:59:35] j8 : as a mistake
[2015-03-02 02:01:27] j8 : so at best its amateurish
[2015-03-02 02:01:57] BitMEX_Sam : Right. Hard to tell if these things are intentional, or if people were staged and ready to pick up on those blocks
[2015-03-02 02:04:11] j8 : hasn't seemed to really turn people off though. hard to say how much these things matter
[2015-03-02 02:05:30] j8 : all crypto has bad distribution
[2015-03-02 02:05:53] j8 : they all reward early adopters to some extent
[2015-03-02 02:07:47] BitMEX_Arthur : we are all gamblers :)
[2015-03-02 02:08:01] BitMEX_Arthur : if there was one coin that i think will succeed it's drk
[2015-03-02 02:08:13] BitMEX_Arthur : all the other ones are just shitcoins imo
[2015-03-02 02:08:39] BitMEX_Arthur : https://www.youtube.com/watch?v=3gfntBEI3Aw
[2015-03-02 02:08:44] BitMEX_Arthur : watch this video
[2015-03-02 02:08:47] BitMEX_Arthur : he is hilarious
[2015-03-02 02:09:30] j8 : lol
[2015-03-02 02:09:33] j8 : a legend
[2015-03-02 02:09:40] BitMEX_Arthur : check out his soundcloud
[2015-03-02 02:09:43] BitMEX_Arthur : he has a bunch of songs
[2015-03-02 02:09:48] BitMEX_Arthur : guy is genius lol
[2015-03-02 02:10:37] j8 : yeah he's great
[2015-03-02 02:13:19] j8 : i'm bitter that i only took 20% profit on drk recently :)
[2015-03-02 02:13:45] j8 : and can't bring myself to buy back in
[2015-03-02 02:19:46] BitMEX_Arthur : it's up like 100%
[2015-03-02 02:19:50] BitMEX_Arthur : in last couple weeks right
[2015-03-02 02:27:00] j8 : yeah
[2015-03-02 02:50:01] BitMEX_Arthur : there is always a healthy pull back on these sorts of moves
[2015-03-02 02:50:08] BitMEX_Arthur : esp since bitcoin hasn't been rising that much
[2015-03-02 02:58:03] j8 : if only there was somewhere to short it, right
[2015-03-02 03:06:47] BitMEX_Arthur : haha
[2015-03-02 03:28:58] BitMEX_Arthur : we are working on some tech specifically to better margin super speculative and volatile contracts
[2015-03-02 16:16:57] BitMEX_Arthur : $270 anyone
[2015-03-02 16:23:09] goat : BitMEX_Arthur: i think we have to bounce around this .5 fib for now
[2015-03-02 16:23:13] goat : then up
[2015-03-02 21:50:36] BitMEX_Arthur : Who is alive out there
[2015-03-02 21:50:42] BitMEX_Arthur : some good volatility
[2015-03-02 21:51:33] j8 : not a bad day
[2015-03-02 21:51:46] j8 : (to be long)
[2015-03-02 21:51:55] BitMEX_Arthur : yep
[2015-03-02 21:55:45] j8 : $275 sure feels a lot better this time than back in october
[2015-03-02 21:55:57] BitMEX_Arthur : lol
[2015-03-02 21:56:06] BitMEX_Arthur : that's why shorting sucks, you can only make 100%
[2015-03-02 22:00:28] j8 : without counting leverage you mean?
[2015-03-02 22:00:44] BitMEX_Arthur : yes unlevered
[2015-03-02 22:03:36] j8 : is there any reason futures contracts couldn't be made with an arbitrary profit law... like an exponential of the price difference
[2015-03-02 22:05:42] BitMEX_Arthur : j8: you can make the contract terms whatever you like, the question is will people trade it
[2015-03-02 22:06:19] j8 : yeah simple is best for that i guess
[2015-03-03 13:18:56] goat : BitMEX_Arthur: loving the cancel and clear all feature
[2015-03-03 14:28:41] BitMEX_Arthur : :)
[2015-03-03 18:37:04] BitMEX_Arthur : China asleep time to ramp
[2015-03-03 20:02:25] floopfloop : ramp?
[2015-03-03 20:41:18] TrevinHofmann : Ramp to moon
[2015-03-03 21:17:34] floopfloop : haha
[2015-03-03 21:17:42] floopfloop : does anyone else think that this little rush wont last?
[2015-03-03 21:18:14] floopfloop : I am guessing a bounce back to about 250/260 until stability before we go over 300
[2015-03-03 21:18:29] floopfloop : we were stable at 220 ish, and 240ish
[2015-03-03 21:18:44] floopfloop : with ups and downs in surrounding it
[2015-03-03 21:19:26] floopfloop : looks like we have fairly weak support at 280
[2015-03-03 21:22:08] j8 : could be, i was hoping for a short squeeze past 300 but this has actually been a pretty controlled rise
[2015-03-03 21:23:23] j8 : bfx swaps dropped from 20k to 16k today
[2015-03-03 21:26:57] j8 : seems like bulls are being cautious. bears too
[2015-03-03 21:28:20] floopfloop : which usually results in lower price
[2015-03-03 21:28:38] floopfloop : fuckk it I want a $50 btc
[2015-03-03 21:28:52] floopfloop : fuck it I want a $500 btc
[2015-03-03 21:28:55] floopfloop : oops
[2015-03-03 21:29:07] floopfloop : i want it at 50, so i can buy and then the next day it goes to 500
[2015-03-03 21:29:13] j8 : lol
[2015-03-03 21:32:13] j8 : this has been a good rise, but nothing parabolic yet. i could see >300 happening today more likely than <270
[2015-03-03 21:32:35] j8 : sub 270
[2015-03-03 21:32:38] j8 : <
[2015-03-03 21:33:12] j8 : chat box doesn't like less than sign
[2015-03-03 21:34:16] floopfloop : yeah Sam be beasting with that lol
[2015-03-03 21:35:03] floopfloop : "Bitmex: The new Mt. Gox" won't be their slogan 4sure
[2015-03-03 21:51:39] j8 : < 3
[2015-03-03 21:55:37] floopfloop : cant we just go back to the time when no one knew what BTC was
[2015-03-03 21:55:44] floopfloop : things were much simpler....lol
[2015-03-03 22:05:09] j8 : no one including us. that is simpler
[2015-03-03 23:34:39] floopfloop : yeah. Starting to wish Satoshi kept this a secrey
[2015-03-03 23:34:42] floopfloop : secret
[2015-03-03 23:35:26] floopfloop : That is if it is only one person. If you have been involved with this long enough and dont accept the possibility of the government introducing this then, well, you haven't witnessed enough yet lol
[2015-03-03 23:36:40] floopfloop : it could be something run by the banks, or even something greater, like something ran by the more youthful crowd to bring down the banks. Then again, it could just be as the story goes.
[2015-03-03 23:44:02] floopfloop : can't wait for the disney documentary to come out ;p
[2015-03-04 00:06:46] j8 : conspiracy is fun
[2015-03-04 00:38:56] BitMEX_Arthur : $300 or $270 which is first?
[2015-03-04 01:53:44] floopfloop : 270
[2015-03-04 01:54:07] floopfloop : walk down the street ask a random person
[2015-03-04 01:54:13] floopfloop : people still dont know wtf btc is lol
[2015-03-04 01:55:30] j8 : 300
[2015-03-04 01:55:35] BitMEX_Sam : in tech it's pretty widespread now
[2015-03-04 01:55:43] BitMEX_Sam : Even out here in Thailand everyone knows it
[2015-03-04 01:55:51] floopfloop : thats good!
[2015-03-04 01:56:08] BitMEX_Sam : Actually ran into a couple guys doing a wallet. Pretty common project these days I think
[2015-03-04 01:57:02] BitMEX_Sam : j8: Yeah I see above you were having trouble with `<` - html sanitizer really doesn't like anything that looks like html
[2015-03-04 01:57:40] BitMEX_Sam : Chat boxes can be an attack vector on a site like this, we play it very cautious
[2015-03-04 01:57:54] BitMEX_Sam : If you hover your mouse over this text input, you'll get a list of what you can do, though
[2015-03-04 01:58:05] BitMEX_Sam : Such as &btc;
[2015-03-04 01:58:15] BitMEX_Sam : Which is apparently now broken. Ha!
[2015-03-04 01:59:06] j8 : <b> cool </b>
[2015-03-04 01:59:38] j8 : `code`
[2015-03-04 02:04:03] BitMEX_Sam : H15 and M15 are trading cheap right now
[2015-03-04 02:04:11] BitMEX_Sam : They usually trade at much more of a premium to spot
[2015-03-04 02:18:35] j8 : is there a good reason for that other than overall bullishness? i get why the xbt chain trades higher
[2015-03-04 02:20:44] BitMEX_Arthur : j8: USD swap rates are higher than XBT ones
[2015-03-04 02:21:10] BitMEX_Arthur : for no arbitrage to hold the future or forward must trade higher than spot
[2015-03-04 02:21:18] BitMEX_Arthur : to replicate the cost of funds
[2015-03-04 02:21:46] BitMEX_Arthur : borrow USD, buy XBT that's a futures contract in a nutshell
[2015-03-04 02:21:59] BitMEX_Arthur : higher the cost of USD over XBT, the higher the price of the future
[2015-03-04 02:25:35] BitMEX_Arthur : https://blog.bitmex.com/bitcoin-and-interest-rates/
[2015-03-04 02:25:46] BitMEX_Arthur : read this as well an explanation of the concept
[2015-03-04 02:26:32] BitMEX_Arthur : the good thing is that if you can borrow USD or your opportunity cost of capital is less than the premium of future over spot
[2015-03-04 02:26:47] BitMEX_Arthur : you as a trader should sell `XBU` futures, buy spot and hold
[2015-03-04 02:39:22] j8 : thanks for the info.
[2015-03-04 02:58:10] BitMEX_Arthur : always here to help :)
[2015-03-04 02:58:58] j8 : still digesting. it makes sense.
[2015-03-04 03:00:00] BitMEX_Arthur : no matter the asset any forward or futures contract is a function of how much it costs to borrow cash to buy and asset, and if applicable how much it costs to store that asset, and how much cash flow does that asset generate aka dividends
[2015-03-04 03:00:40] BitMEX_Arthur : or in the cash of bonds, coupon payments
[2015-03-04 03:00:58] BitMEX_Arthur : as a derivative holder you are entitled to nominal price gains, but not income stream
[2015-03-04 03:01:15] j8 : yeah. i'm trying to wrap my head around why usd rates are higher
[2015-03-04 03:01:33] BitMEX_Arthur : because people are bullish on the price and want leverage
[2015-03-04 03:01:46] BitMEX_Arthur : always better to use OPM (other people's money)
[2015-03-04 03:01:57] BitMEX_Arthur : check out bfxdata.com
[2015-03-04 03:02:08] j8 : i have been :)
[2015-03-04 03:04:14] j8 : there are so many sources of loans in usd though.
[2015-03-04 03:05:16] j8 : outside of the bitcoin world.
[2015-03-04 03:07:04] BitMEX_Arthur : bitcoin is global most people can't get unsecured usd loans
[2015-03-04 03:10:19] j8 : maybe i'm thinking about this wrong, but i'm imagining that in the long run a deflationary currency would be expensive to borrow
[2015-03-04 03:10:48] BitMEX_Arthur : it's not deflationary yet tho, and has no use other than speculation for the most part
[2015-03-04 03:11:05] BitMEX_Arthur : so the borrow rate is a barometer on expectations of a price fall
[2015-03-04 03:11:29] BitMEX_Arthur : and this is no safe `XBT` bond market
[2015-03-04 03:15:48] j8 : pretty counterintuitive but yeah, given that there's no other reason to borrow btc than short selling at the moment
[2015-03-04 03:22:52] j8 : high demand for the asset means you can borrow it cheaply
[2015-03-04 03:26:31] BitMEX_Arthur : how so
[2015-03-04 03:27:44] j8 : bullish prospects lead to less borrowing of btc
[2015-03-04 03:28:30] BitMEX_Arthur : if ur a bull u borrow fiat to buy `XBT`
[2015-03-04 03:54:42] j8 : of course. i guess i'm confusing this with the way interest rates are controlled by governments to throttle inflation... so low rates are associated with a devaluing, but that's an external pressure not a symptom
[2015-03-04 03:56:14] j8 : and its a bit backward of what you'd expect when you borrow something to use it
[2015-03-04 03:56:44] BitMEX_Arthur : just think about it from a personal perspective, u want to buy something, you borrow money to do it
[2015-03-04 03:57:04] BitMEX_Arthur : the greater you think the asset will rise, the more you will pay to borrow funds to buy it
[2015-03-04 04:03:22] j8 : so in the bitcoin new world order of 2075, what would you expect the rates for bitcoin loans will be like? talking about general economics moreso than currency swaps
[2015-03-04 04:04:45] BitMEX_Arthur : all depends on the demand for XBT credit if it exists
[2015-03-04 04:04:47] j8 : (you did well on the easy questions so this is bonus round)
[2015-03-04 04:07:47] j8 : but the supply of credit is presumably low. if we go with the unrealistic bitcoin only scenario
[2015-03-04 04:08:14] BitMEX_Arthur : y is the supply of credit low?
[2015-03-04 04:10:00] j8 : because a loaner can only give out so many actual btc, which are not being created at will
[2015-03-04 04:10:21] BitMEX_Arthur : the supply of credit depends on the price of money
[2015-03-04 04:10:35] j8 : we're used to a 10 to 1 fractional reserve situation though.
[2015-03-04 04:12:49] j8 : which could exist in closed transaction networks, but not in plain old bitcoin
[2015-03-04 04:13:38] j8 : loaners have 1:1 margin requirements
[2015-03-04 04:14:02] BitMEX_Arthur : at a high enough price there will be enough supply of `XBT`
[2015-03-04 04:14:09] BitMEX_Arthur : high enough interest rate
[2015-03-04 04:21:17] j8 : either interest rates are 10 times higher, or bankers make 10 times less. i prefer scenario b)
[2015-03-04 06:23:16] floopfloop : any reason why XBU24h hasnt settled yet?
[2015-03-04 06:25:37] BitMEX_Arthur : `12:00 GMT`
[2015-03-04 06:25:40] BitMEX_Arthur : that's settlement time
[2015-03-04 06:26:04] BitMEX_Arthur : take a look in `Selected Contract` box
[2015-03-04 06:26:09] BitMEX_Arthur : will show the settlement time in you local time
[2015-03-04 06:29:40] floopfloop : oh wow , fail Arthur
[2015-03-04 06:30:00] floopfloop : had the reg inverse screens up and was looking at XBU times
[2015-03-04 06:30:40] floopfloop : oh wait no, I had it right
[2015-03-04 06:30:56] floopfloop : On the XBU24 is says settles at GMT 6:00
[2015-03-04 06:31:10] floopfloop : which is 1200am CST
[2015-03-04 06:31:17] floopfloop : and its 1231 now
[2015-03-04 06:31:48] BitMEX_Arthur : please send me a screenshot to support@bitmex.com thanks
[2015-03-04 06:34:46] floopfloop : umm
[2015-03-04 06:34:56] floopfloop : the XBU24H screen
[2015-03-04 06:35:12] floopfloop : the description in the "selected contract" box
[2015-03-04 06:35:29] floopfloop : XBU24H is a XBT/USD inverse futures contract settling daily on the .XBT30M Index at 06:00:00 (GMT-06:00).
[2015-03-04 06:36:02] BitMEX_Arthur : what's the issue
[2015-03-04 06:36:17] BitMEX_Arthur : it's around midnight for you right now correct?
[2015-03-04 06:36:26] floopfloop : yes, 12:26
[2015-03-04 06:36:33] floopfloop : 12:36*
[2015-03-04 06:36:39] BitMEX_Arthur : so it expires in 5.5 hr
[2015-03-04 06:36:52] floopfloop : umm?
[2015-03-04 06:37:00] floopfloop : gmt 6 = 12:00 CST?
[2015-03-04 06:37:22] floopfloop : doesnt it settle at 12?
[2015-03-04 06:37:33] BitMEX_Arthur : 12 GMT + 0
[2015-03-04 06:37:43] floopfloop : XBU24H is a XBT/USD inverse futures contract settling daily on the .XBT30M Index at 06:00:00 (GMT-06:00).
[2015-03-04 06:37:51] floopfloop : 6 gmt lol
[2015-03-04 06:38:38] floopfloop : BitMEX_Arthur: is it a type?
[2015-03-04 06:38:42] floopfloop : BitMEX_Arthur: typo*
[2015-03-04 06:38:54] floopfloop : I am only here for like 5 min and going back to library
[2015-03-04 06:39:06] BitMEX_Arthur : no it's not
[2015-03-04 06:39:10] BitMEX_Arthur : you must reference the offet
[2015-03-04 06:39:36] BitMEX_Arthur : so I'm in Hong Kong so `XBU24H` expires at 20:00 GMT + 8
[2015-03-04 06:40:11] floopfloop : i dont know what you are talking about
[2015-03-04 06:40:30] floopfloop : it says it settles at 6 GMT, which is 12:00am CST
[2015-03-04 06:40:39] floopfloop : why isnt it settled?
[2015-03-04 06:41:37] BitMEX_Arthur : you are 6:00 GMT - 6, not 6:00 GMT
[2015-03-04 06:41:40] BitMEX_Arthur : two different things
[2015-03-04 06:41:50] floopfloop : oh I see now
[2015-03-04 06:41:57] floopfloop : now it makes sense
[2015-03-04 06:42:01] BitMEX_Arthur : cool
[2015-03-04 06:42:04] floopfloop : I was looking at this like WTF!?
[2015-03-04 06:42:22] floopfloop : us common folk arent on that GMT business lol
[2015-03-04 06:42:30] floopfloop : idea though
[2015-03-04 06:42:49] floopfloop : put in a some type of widget that would display times in local format as well as gmt
[2015-03-04 06:43:04] floopfloop : maybe based on local browser settings or IP address
[2015-03-04 06:43:13] floopfloop : would make it MUCH more user friendly
[2015-03-04 06:43:36] floopfloop : i have to leave your site everytime I want to find the right time, and that is not what you usually want if you are running a website lol
[2015-03-04 06:44:06] floopfloop : I gotta go for now man, but might want to look into that. You guys are always making trading easier for the common person, and that might just be another step.
[2015-03-04 06:44:24] BitMEX_Arthur : we used to have your local server time displayed maybe we should bring it back
[2015-03-04 06:44:34] floopfloop : I think both would be fine
[2015-03-04 06:44:43] floopfloop : Like GMT and Local times
[2015-03-04 06:59:53] floopfloop : might end up being a good thing if price keeps falling
[2015-03-04 07:00:02] floopfloop : oh wait
[2015-03-04 07:00:05] floopfloop : someone bought me out
[2015-03-04 07:00:06] floopfloop : lol
[2015-03-04 07:00:11] floopfloop : all of it, nice
[2015-03-04 09:01:54] wouhao : Hello
[2015-03-04 09:03:38] wouhao : when I fall into liquidation states, the system would force liquidation of my open position one by one in market price, that's right?
[2015-03-04 09:05:50] BitMEX_Arthur : we first cancel all open orders
[2015-03-04 09:06:15] BitMEX_Arthur : to free up more margin, if that doesn't get you back above 0% on excess margin, then we begin force liquidation
[2015-03-04 09:11:09] wouhao : at this price, how many position would be force liquidation, and what price would be set for these force liquidation order?
[2015-03-04 09:20:32] wouhao : If system begin force liquidation my position, would it decrease my position one by one in market price?
[2015-03-04 09:21:54] BitMEX_Arthur : wouhao: We don't publish our liquidation algorithm to prevent other traders from gaming the system. But in general we incrementally liquidate just enough contracts to raise your Excess Margin to 0%
[2015-03-04 09:23:02] wouhao : OK, thx
[2015-03-04 10:29:20] wouhao : in genera, how many position I could left?
[2015-03-04 10:29:52] wouhao : after I force liquidation
[2015-03-04 10:32:14] BitMEX_Sam : wouhao: There's no way to know exactly how much because it depends entirely on how fast the market is moving and how liquid it is
[2015-03-04 10:32:37] BitMEX_Sam : But the liquidation engine stops liquidating once your excess margin is 0 - that is, you hold at least 30% equity of your positions
[2015-03-04 10:35:01] wouhao : so liquidation engine would check my excess margin is 0 after 1 force liquidation order be filled, that's right?
[2015-03-04 10:35:39] BitMEX_Sam : Yes, it places incremental orders based on where it thinks the market will go to ensure safety and preservation of your equity
[2015-03-04 10:35:46] BitMEX_Sam : It is generally a very fair system
[2015-03-04 10:48:29] wouhao : so in this rule, my wallet balance would get negative, so my account would be closed.
[2015-03-04 12:33:16] BitMEX_Sam : wouhao: No, we're talking about excess margin, which is the account balance you hold about the 30% initial margin requirement
[2015-03-04 12:33:45] BitMEX_Sam : Bankruptcy (your wallet balance going negative) is something that we work hard to prevent from ever happening
[2015-03-04 13:45:32] goat : wouhao: their margin call system is by far the best of any btc exchange i have used
[2015-03-04 13:45:40] goat : margin call / liquidation system
[2015-03-04 13:46:54] BitMEX_Sam : Thanks @goat. We're the only crypto exchange that does incremental liquidation, the rest generally liquidate fully or even just take your entire account balance
[2015-03-04 13:47:14] BitMEX_Sam : I believe OKC is now simply taking your whole balance and using it toward mitigating socialized losses
[2015-03-04 14:24:51] goat : okc is also probably a full on ponzi, let's not forget that lol
[2015-03-04 17:13:04] j8 : okc sets walls for liquidation rather than market orders, and if the walls don't get eaten before settlement the loss is socialized. and yes they take any remaining balance toward an insurance fund.
[2015-03-04 17:14:38] j8 : presumably there is a point where you guys would get totally wiped out. i.e if the market rose and didn't come back and you're left holding people's shorts
[2015-03-04 17:23:26] j8 : but at least you guys have the incentive to do it right.
[2015-03-04 21:35:10] j8 : speaking of liquidations...
[2015-03-04 21:35:28] j8 : xbth15 at 235?
[2015-03-04 21:57:10] floopfloop : holy crap
[2015-03-04 21:57:22] floopfloop : I just got XBTH15 at 240/btc
[2015-03-04 21:58:33] j8 : lucky.
[2015-03-04 22:40:26] TrevinHofmann : You're welcome. :(
[2015-03-04 22:40:53] TrevinHofmann : Order books with no depth = easy to force people into a margin call
[2015-03-04 22:49:46] floopfloop : :)
[2015-03-04 22:54:11] TrevinHofmann : Went from 280 to 240 with 1 contract traded :P
[2015-03-05 03:16:59] j8 : brutal.
[2015-03-05 03:17:55] BitMEX_Sam : Yeah, we had a quick burst of trading and the liquidity couldn't keep up.
[2015-03-05 03:18:04] j8 : the only safety net on this market is the limit up/down per session.
[2015-03-05 03:18:30] j8 : until more liquidity arrives
[2015-03-05 03:18:35] BitMEX_Sam : The XBU contracts are significantly more liquid than XBT
[2015-03-05 03:19:42] BitMEX_Sam : XBT is a different style than XBU and modeled differently. We haven't seen market makers take it up in the same way for that reason
[2015-03-05 03:20:05] BitMEX_Sam : It's not impossible to market make by any stretch, just different formulas
[2015-03-05 03:20:47] j8 : some big open positions though... 2249 btc open value?
[2015-03-05 03:27:14] BitMEX_Arthur : It was one of the first contracts we listed hence the large number of open positions. Going forward we are focusing traders on the XBU series to avert these sorts of issues from happening again.
[2015-03-05 06:00:53] joequant : I'm doing some quant work on how to price XBT options.
[2015-03-05 06:01:01] joequant : Should have a paper out in about three weeks.
[2015-03-05 06:01:11] joequant : This should improve liquidity
[2015-03-05 06:01:28] joequant : The nice thing about XBT is that it's a volatility play
[2015-03-05 06:02:47] joequant : I'm using www.quantlib.org to price so everything should be open source.
[2015-03-05 06:03:02] joequant : With a sample pricing app.
[2015-03-05 06:04:23] joequant : The quant project that I have after that will be to study how the future/spot spread decreases over time.
[2015-03-07 08:41:15] chromaticcr : @BitMEX_Arthur 796 is planning to kill Quanto and replace with Inverse
[2015-03-07 10:13:29] BitMEX_Arthur : chromaticcr: when are they planning to switch over
[2015-03-07 10:13:53] chromaticcr : “in coming weeks"
[2015-03-07 10:14:04] chromaticcr : week(s)
[2015-03-07 10:14:26] chromaticcr : they will keep both contracts for trail
[2015-03-07 10:14:31] chromaticcr : trial
[2015-03-07 10:14:48] BitMEX_Arthur : chromaticcr: we have had a lot of push back from users to keep the `XBT` so we are working towards a solution
[2015-03-07 10:14:55] chromaticcr : https://796.com/news/detail/515.html
[2015-03-07 10:15:26] chromaticcr : you mean keeping Quanto?
[2015-03-07 10:15:47] BitMEX_Arthur : correct
[2015-03-07 10:51:35] BitMEX_Sam : Oddly enough 796 is doing some referer checking on that url, making it inaccessible
[2015-03-07 10:51:38] BitMEX_Sam : you have to go to https://796.com/news/index.html first
[2015-03-07 10:51:53] BitMEX_Sam : Not sure why they'd want to prevent linking of their own articles
[2015-03-07 19:15:34] Tone : why were you guys planning to remove XBT
[2015-03-07 19:15:39] Tone : That's all i've been trading
[2015-03-08 04:02:26] BitMEX_Sam : Tone: Liquidity, but we've had some people step up who are interesting to help keep XBT liquid
[2015-03-08 04:02:49] BitMEX_Sam : We are working on it, we would like to keep the XBT series alive, it is a useful series to trade but we don't think the community understands why just yet
[2015-03-08 04:03:06] BitMEX_Sam : We are working on interactive docs that will help our users better understand trading the XBT series
[2015-03-08 04:05:13] Tone : That's the one i've been trading and i've done pretty well, it's the only one you can trade in tiny amounts too, i don't understand why people don't like it
[2015-03-08 04:05:43] Tone : honestly the daily makes no sense to me. Have you guys thought of making it weekly?
[2015-03-08 04:06:05] BitMEX_Sam : Why do you prefer a weekly vs a daily?
[2015-03-08 04:06:36] Tone : cause i'm too lazy to re-enter a position every day if the price does not move
[2015-03-08 04:06:46] BitMEX_Sam : Also you can trade XBU24H in small amounts, the contract size is $1 vs $100 for the rest of XBU
[2015-03-08 04:06:51] BitMEX_Sam : Ah
[2015-03-08 04:07:16] BitMEX_Sam : Tone: That's understandable. We've been looking at weeklies for all of our series
[2015-03-08 04:07:42] BitMEX_Sam : BVOL is a priority, we think it could be much more active but it needs to be easier to approach and more real-time
[2015-03-08 04:07:50] Tone : also it might expire at an inconvenient time for people.
[2015-03-08 04:08:15] BitMEX_Sam : Yeah, it's generally early morning for the US crowd
[2015-03-08 04:08:27] BitMEX_Sam : Difficult to deal with times when you have a global business, though.
[2015-03-08 04:08:59] Tone : I also no longer enter cancellation orders on it cause i got caught on one 2 days later when it did not expire with the contract
[2015-03-08 04:09:38] BitMEX_Arthur : also OKC, 796, BitVC all expire around the same time as us
[2015-03-08 04:09:49] Tone : so you literally have to babysit your position at 7am in my case every day to either enter a position or manually cancel a close... doing that once a week is just easier
[2015-03-08 04:09:54] BitMEX_Sam : Yeah - we understand that. The idea is to keep the orders open to keep liquidity, assuming that with the fast expiration users would not want to have their orders cancelled daily
[2015-03-08 04:10:04] BitMEX_Sam : We are considering making that optional, and default off
[2015-03-08 04:10:15] BitMEX_Sam : Least surprise, and all that
[2015-03-08 04:11:16] Tone : yeah but those other guys like OK and 796 have weekly futures
[2015-03-08 04:11:47] BitMEX_Sam : True
[2015-03-08 04:11:58] Tone : which would be nice here, i just don't see a point of daily expiry
[2015-03-08 04:12:09] BitMEX_Sam : It's definitely something we're considering. It's really a matter of figuring out what the community wants to trade
[2015-03-08 04:13:05] Tone : if i'm a short term trader i will set tight stops or exit myself, forcing a once a day settle just seems extreme... a weekly alternative will be almost like spot price anyway
[2015-03-08 04:15:05] Tone : the only reason i ever enter a daily future is when i wanna go long but the monthly is a bit too high above spot for my taste... but then the price don't move and i need to do it again the next day and then again or i miss it by half a day and then have no position.
[2015-03-08 04:15:34] Tone : anyway i'm just one person, gage the crowd
[2015-03-08 04:18:21] Tone : i'm still trading 796 cause they have weekly futures that are pretty in line with Spot in today's market and i know i don't have sit in front of a PC every day at exactly 7am
[2015-03-08 04:19:01] BitMEX_Sam : Sure. We definitely understand what you're saying
[2015-03-08 04:19:29] BitMEX_Sam : We'll talk about it more internally. I agree that babysitting it every day is not ideal
[2015-03-08 20:31:37] podizzler3000 : whats up with the BVOL
[2015-03-08 20:31:38] podizzler3000 : no action?
[2015-03-08 20:31:42] podizzler3000 : i need da action
[2015-03-09 04:06:43] BitMEX_Sam : podizzler3000: BVOL may be confusing for some to trade, but it will pick up in volume
[2015-03-09 12:28:09] goat : are you guys doing withdraws today?
[2015-03-09 12:28:22] BitMEX_Arthur : goat: yes
[2015-03-09 12:28:45] goat : cool
[2015-03-09 13:34:27] alb_gt : Hi Arthur
[2015-03-09 13:34:39] BitMEX_Arthur : hi
[2015-03-09 13:34:51] alb_gt : I cant find how to enter negative roll prices ?
[2015-03-09 13:35:15] alb_gt : system issue ?
[2015-03-09 13:35:17] BitMEX_Arthur : which contract do you want to trade?
[2015-03-09 13:35:33] alb_gt : putting a bid on H/U
[2015-03-09 13:35:35] BitMEX_Arthur : possibly i will try and replicate your issue
[2015-03-09 13:36:08] BitMEX_Arthur : alb_gt: I see the bug, we will get that fixed, thanks for alerting us
[2015-03-09 13:36:12] alb_gt : the page wont let me enter
[2015-03-09 13:36:16] alb_gt : ok
[2015-03-09 13:36:20] alb_gt : no pb
[2015-03-09 14:43:18] BitMEX_Sam : alb_gt: Please refresh, that's fixed - thank you for reporting
[2015-03-09 15:59:35] Tone : So i will call myself an Idiot first, but just as a heads up, it is really dangerous to have completely different contracts for the Daily XBU vs the Monthly XBU, cause i just went full account short for H14 vs selling 1/4 of my long position on 24H.
[2015-03-09 16:00:39] Tone : it was actually just bad luck other than stupidity cause had i tried to sell what i thought was 1/3 of my long position I would have gotten a "not enough funds" message which would have been nice
[2015-03-09 16:02:42] Tone : I was actually long on H14 as well at the time, but very small. Just a heads up... not sure if anyone else has fucked up like that... if they have, you might want to separate the 24H contract in it's own set LOL
[2015-03-09 17:11:18] Tone : basically my issue is not my dumb move it's that the contract size of XBU24H is more in line with XBT's than with XBU's... hence the main reason why I was trading XBT's and XBU24H so that I only have to think about one type of contract size