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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[2017-02-28 06:20:40] Taco : BitMEX_John: I already have an open position set at 100x. Then i looked at the leverage and it had changed by its self to like 20x, instead of 100x like i had
[2017-02-28 06:20:41] BitMEX_John : Taco: also if you are new to the exchange using 100x leverage might not be the the best way to start off, as you will have a high chance of liquidation
[2017-02-28 06:21:20] BitMEX_John : Taco: you can drag the slider to 100x if you would like, I'm not sure why it changed. Please be careful of getting liquidated though
[2017-02-28 06:21:27] dodic : Taco: Did you switch instruments? You have a separate leverage for each one
[2017-02-28 06:22:01] Taco : dodic: why do you mean by instruments?
[2017-02-28 06:22:36] BitMEX_John : Taco: the swap and futures are different instruments, for instance
[2017-02-28 06:22:36] elmorte : Taco: swap, march USD, march CNY etc
[2017-02-28 06:22:37] dodic : Taco: Like if you click on XBTUSD, then the quarterly XBTH17, you can set diff leverage for each
[2017-02-28 06:23:45] BitMEX_John : Taco: have you read our exchange guide? It is a good place to start if it is your first time here :) https://www.bitmex.com/app/tradingOverview
[2017-02-28 06:25:01] Taco : BitMEX_John: Are there video tutorials also?
[2017-02-28 06:25:08] Taco : dodic: Where does it say XBTUSD?
[2017-02-28 06:25:23] dodic : sorry that's the swap's name
[2017-02-28 06:25:34] elmorte : Taco: are you on mobile?
[2017-02-28 06:25:39] Taco : no
[2017-02-28 06:25:54] elmorte : What position do you have open?
[2017-02-28 06:26:02] Taco : i closed it cuz i lost .25 btc
[2017-02-28 06:26:15] elmorte : Under Closed Positions, see Symbol
[2017-02-28 06:26:28] Taco : ok yes i see that
[2017-02-28 06:26:38] elmorte : XBTUSD is swap, XBTH17 is March USD...
[2017-02-28 06:26:59] BitMEX_John : Taco: if you would like to try some test trades before you risk real capital we have a testnet here - https://testnet.bitmex.com
[2017-02-28 06:27:24] Taco : I guess im confused by what swap and march USD even means
[2017-02-28 06:27:46] elmorte : you sounded like you knew what you were talking about when you asked about the quarterly :)
[2017-02-28 06:28:01] Taco : well my friend told me about this site
[2017-02-28 06:28:07] Taco : and pretty much i was confused because
[2017-02-28 06:28:19] BitMEX_John : Taco: we have a futures guide here - https://www.bitmex.com/app/futuresGuide swaps guide is here - https://www.bitmex.com/app/swapsGuide
[2017-02-28 06:28:21] Taco : I was putting coins on at 100x , and if they dropped 5$ only id lose everything i was risking
[2017-02-28 06:28:24] Taco : when it should be 10$
[2017-02-28 06:28:24] dodic : this is like... a tank of angry sharks
[2017-02-28 06:28:31] dodic : take it slow dude
[2017-02-28 06:28:56] Taco : i'm just playing around and learning the site
[2017-02-28 06:28:56] elmorte : Taco: you get 100x leverage, but it doesn't quite work out to 1% buffer
[2017-02-28 06:29:02] elmorte : more like 0.5%
[2017-02-28 06:29:03] ayy_lmao : whats the default leverage for new accounts?
[2017-02-28 06:29:09] elmorte : cross @ayy_lmao
[2017-02-28 06:29:16] Taco : idk what 1% buffer even means lol
[2017-02-28 06:29:32] elmorte : Taco: your $10 is 1% of $1000
[2017-02-28 06:29:48] elmorte : Which you assumed was your margin buffer before losing it all
[2017-02-28 06:30:18] Taco : if someone here is very familiar with teh site, ill tip u 20$ to just answer any of my questions on like discord or skype or somethingg lol
[2017-02-28 06:30:30] elmorte : but the margin (buffer) is smaller than that
[2017-02-28 06:30:40] ayy_lmao : Taco: u dont need to
[2017-02-28 06:30:42] ayy_lmao : someone will answer anyways
[2017-02-28 06:30:45] ayy_lmao : we are used to it
[2017-02-28 06:30:50] elmorte : +1
[2017-02-28 06:30:51] Taco : half the terms being used to help answer my questions
[2017-02-28 06:30:53] Taco : i dont know what they mean
[2017-02-28 06:30:56] elmorte : But for $40, I'd consider it
[2017-02-28 06:31:01] Taco : lmfao
[2017-02-28 06:31:01] dodic : haha
[2017-02-28 06:31:07] elmorte : :)
[2017-02-28 06:31:38] ayy_lmao : https://testnet.bitmex.com/
[2017-02-28 06:31:56] BitMEX_John : Taco: I would highly recommend reading though the exchange guide I linked earlier and practicing on testnet
[2017-02-28 06:32:00] Taco : here's why im confused, if you risk 10$ on 100x, you're technically risking 10,000 correct? well if that's the case, when coins go down 10$ u should lose all of your risk, but when i would put coins on 100x , its less than that, which doenst make sense
[2017-02-28 06:32:26] Taco : or 1000$
[2017-02-28 06:32:27] Taco : sorry
[2017-02-28 06:32:32] elmorte : noah asked the same question like half an hour before you
[2017-02-28 06:32:41] ayy_lmao : thats because of something called maintenance margin
[2017-02-28 06:32:43] elmorte : scroll up or look at the archive
[2017-02-28 06:32:44] Taco : haha i just joined chat for first time
[2017-02-28 06:32:57] BitMEX_John : Taco: you are liquidated at an earlier price because the exchange needs a buffer between the liquidation price and bankruptcy price
[2017-02-28 06:33:05] ayy_lmao : if they liquidate you at exact -100% they might not be able to close it
[2017-02-28 06:33:10] BitMEX_John : Taco: this is to ensure that we can close the position without taking a loss
[2017-02-28 06:33:32] BitMEX_John : Taco: you can read more about liquidation here https://www.bitmex.com/app/liquidation
[2017-02-28 06:33:35] Taco : BitMEX_John: ok that makes sense
[2017-02-28 06:35:54] Taco : I have another question
[2017-02-28 06:36:06] Taco : let's say you short 100x, and coins drop like 300$ and u just make a massively large amount of money
[2017-02-28 06:36:16] Taco : what happens if there isnt that much money for the site to pay out?
[2017-02-28 06:36:29] Taco : like what if there isnt that much $ being longed or w/e u call it
[2017-02-28 06:36:40] vgck : You will get Auto De-Leveraged
[2017-02-28 06:36:44] BitMEX_John : Taco: you can only make as much money as other traders can lose - that's why we have ADL - https://www.bitmex.com/app/autoDeleveraging
[2017-02-28 06:37:26] Taco : So is this why the leverage % changes by itself?
[2017-02-28 06:37:38] MusicDJ : http://www.etf.com/sections/etf-strategist-corner/bitcoin-etf-fintech-marriage-ready-happen
[2017-02-28 06:38:28] BitMEX_John : Taco: no, you will always be able to select the level of leverage that suits you, but it may increase your risk of being ADL'd
[2017-02-28 06:39:48] Taco : Is there a way for me to see the total amount of $ on either side of the spectrum?
[2017-02-28 06:40:58] BitMEX_John : Taco: all our systems measure value in bitcoin, you can see the open value of a contract on the bottom left hand side of the trading interface
[2017-02-28 06:45:02] rapidtrades : MusicDJ: SCAM
[2017-02-28 06:45:04] rapidtrades : get away with ur scam
[2017-02-28 06:45:20] ayy_lmao : lol
[2017-02-28 06:45:29] Taco : can someone explain the difference between swap and march 31st, like youre explaining it to someone clueless
[2017-02-28 06:45:51] Taco : i read the links but still dont know half of the terms used
[2017-02-28 06:45:54] ayy_lmao : bitmex is a derivatives exchange
[2017-02-28 06:46:00] ayy_lmao : meaning we trade fake bitcoins
[2017-02-28 06:46:19] ayy_lmao : swap tries to mimic a spot exchange
[2017-02-28 06:46:21] rapidtrades : IT'S FAKE
[2017-02-28 06:46:23] rapidtrades : FAKE NEWS
[2017-02-28 06:46:26] ayy_lmao : like bitstamp or bitfinex
[2017-02-28 06:46:39] wurstgelee : what a splendid morning for btfd
[2017-02-28 06:46:42] ayy_lmao : swap tracks an index which gets its prices from bitstamp and okc USD
[2017-02-28 06:46:52] ayy_lmao : meaning it sways less than mar 31
[2017-02-28 06:47:02] rapidtrades : wurstgelee: how did u not get stopped out
[2017-02-28 06:47:11] ayy_lmao : mar 31 is free to do as it pleases
[2017-02-28 06:47:17] ayy_lmao : so the moves are very drastic
[2017-02-28 06:47:30] ayy_lmao : its moves very close with okc quarterly
[2017-02-28 06:47:45] wurstgelee : rapidtrades: i closed 3/4 well in profit before going to bed, got stoppped on the remaining 25%
[2017-02-28 06:47:55] ayy_lmao : swap charges funding to keep prices in line with index
[2017-02-28 06:47:57] rapidtrades : u lucky pos sausage
[2017-02-28 06:48:09] wurstgelee : rapidtrades: u assume i have all in positions?
[2017-02-28 06:48:23] rapidtrades : i assume ur an idiot
[2017-02-28 06:48:44] wurstgelee : your assumptions is wrong, i am sorry
[2017-02-28 06:48:49] wurstgelee : *-s
[2017-02-28 06:48:50] ayy_lmao : funding is based on whether or not price on bitmex is higher or lower than the index
[2017-02-28 06:48:59] rapidtrades : we'll see
[2017-02-28 06:49:11] ayy_lmao : if its higher than index, longs will need to pay a fee
[2017-02-28 06:49:15] ayy_lmao : its discourages buying
[2017-02-28 06:49:15] wurstgelee : yeah, you are saying this since 2015
[2017-02-28 06:49:29] ayy_lmao : if its lower, short pay a fee, it discourages selling
[2017-02-28 06:49:34] ayy_lmao : the goal is to keep it close to index
[2017-02-28 06:49:42] Taco : ok i see, so which has the lowest fees
[2017-02-28 06:49:44] Taco : swap right/
[2017-02-28 06:49:48] rapidtrades : wurstgelee: yeah ur a perma-bull in a bull market, ocs ur making $
[2017-02-28 06:49:58] ayy_lmao : its relative
[2017-02-28 06:50:08] wurstgelee : rapidtrades: i only started being permabull once the market started doing that
[2017-02-28 06:50:25] wurstgelee : i play alts in bear times because i suck at shorting
[2017-02-28 06:50:27] wurstgelee : ;)
[2017-02-28 06:50:46] BitMEX_John : Taco: depends on your situation but futures have no funding fee
[2017-02-28 06:51:04] BitMEX_John : Taco: sometimes the funding fee can be a rebate though depending on your position
[2017-02-28 06:52:16] Taco : ok so let me ask you this, lets say i wait for a moment when i think coins are drasticaly going to drop or rise, and i put like 3-5 coins on 100x in the direction i believe its going to swing
[2017-02-28 06:52:40] Taco : if my prediction is right and coins drop say 100$ , will i make 100x the 5 coins i have , or is the auto leverage going to change the outcome almost for sure
[2017-02-28 06:52:53] Taco : 100x 5 coins at 100$ per coin
[2017-02-28 06:53:02] ayy_lmao : you will most likely get ADL'd on full 100x leverage
[2017-02-28 06:53:19] ayy_lmao : there is a risk iimit too
[2017-02-28 06:53:20] Taco : I just want to yolo and if im right make like 50k :p
[2017-02-28 06:53:28] ayy_lmao : you cant 100x over a certain amount
[2017-02-28 06:53:38] ayy_lmao : its to prevent large liquidations
[2017-02-28 06:53:44] BitMEX_John : Taco: the 100x doesn't mean "100x profit" it means 100x leverage as in your margin is 100th of the value of your position
[2017-02-28 06:54:31] Taco : yeah i understand that
[2017-02-28 06:54:46] BitMEX_John : Taco: there is a calculator tool that shows you margin requirements, profit and loss and liquidation price with given parameters
[2017-02-28 06:55:03] BitMEX_John : Taco: you can access the calculator by clicking the icon on the left hand side next to "Place Order"
[2017-02-28 06:55:16] longbydefault : taco: no one's stopping you from doing that but i suggest a more patient approach
[2017-02-28 06:56:03] Taco : Yeah i think a patient approch is smart at times
[2017-02-28 06:56:15] Taco : but i also think that there are times when bitcoin has a 90% of swinging a certain direction
[2017-02-28 06:56:31] rapidtrades : u mean up amirite?
[2017-02-28 06:56:50] Taco : or down
[2017-02-28 06:56:59] rapidtrades : but more up right?
[2017-02-28 06:57:06] Taco : to the moon
[2017-02-28 06:57:14] BitMEX_John : Taco: you can try trading on testnet to get a feel of things before you trade with real capital
[2017-02-28 06:57:22] rapidtrades : to the moon
[2017-02-28 06:57:25] Taco : Yeah i already lost like .3
[2017-02-28 06:57:37] Taco : didnt know there was a test server
[2017-02-28 06:57:42] Taco : refund plx
[2017-02-28 06:57:44] Taco : ;)
[2017-02-28 06:58:55] LongShort : how do you get to the testnet?
[2017-02-28 06:59:20] Taco : https://testnet.bitmex.com/
[2017-02-28 06:59:32] BitMEX_John : cheers @Taco
[2017-02-28 06:59:32] LongShort : thanks
[2017-02-28 06:59:45] Taco : yeah i help out a lot of people around here
[2017-02-28 06:59:51] BitMEX_John : Taco: hahaha
[2017-02-28 06:59:56] ayy_lmao : lol
[2017-02-28 07:00:25] dodic : LongShort: That'll be $20
[2017-02-28 07:01:13] dodic : Taco: Few more of those and you can make all your money back
[2017-02-28 07:01:25] Taco : :p
[2017-02-28 07:02:55] Taco : i dont understand why anyone would put it on 100x when 50x is better it seems
[2017-02-28 07:03:23] Taco : in order to get 300k usd quantity , it requires either 4.5 coins on 100x, or 5.4 on 50x
[2017-02-28 07:03:52] Taco : and if coins go up 100$ you make the same profit either way
[2017-02-28 07:03:57] Taco : if youre longing
[2017-02-28 07:04:05] jordanbitfort : wat
[2017-02-28 07:04:18] Taco : use that calculator
[2017-02-28 07:04:39] Taco : put quantity at 300k , long, and have exit price 100$ more -- not change the leverage between 50x and 100x
[2017-02-28 07:04:58] Taco : and look at the margin, and profit
[2017-02-28 07:05:18] Taco : now change*
[2017-02-28 07:05:21] BitMEX_John : Taco: the amount of contracts in your position is what reflects your exposure, leverage has nothing to do with it
[2017-02-28 07:05:51] BitMEX_John : 300K contracts is 300K USD of exposure, doesn't matter if you are on 100x, 50x or cross
[2017-02-28 07:06:30] BitMEX_John : the important thing about leverage is that it effects your liquidation price and also dictates your maximum amount of contracts given the amount of balance you have
[2017-02-28 07:06:31] Taco : Idk why its so confusing for me :S
[2017-02-28 07:06:55] ayy_lmao : look
[2017-02-28 07:07:06] ayy_lmao : say i want to trade 100 btc and i have 1 btc
[2017-02-28 07:07:10] ayy_lmao : I use 100x leverage
[2017-02-28 07:07:17] ayy_lmao : now price rises $100
[2017-02-28 07:07:30] ayy_lmao : 100 btc X $100 = $10,000
[2017-02-28 07:07:36] ayy_lmao : i make 10,000
[2017-02-28 07:07:46] ayy_lmao : assuming i longed
[2017-02-28 07:08:06] Taco : Yeah i get that, that's how i thought it was
[2017-02-28 07:08:10] ayy_lmao : it is
[2017-02-28 07:08:22] Taco : and the opposite way, would be if it dropped 10$
[2017-02-28 07:08:25] Taco : you lose your 1k
[2017-02-28 07:08:27] Taco : or 1 coin rather
[2017-02-28 07:08:43] ayy_lmao : yes
[2017-02-28 07:08:57] ayy_lmao : but MM margin will stop you out before full $10
[2017-02-28 07:08:58] Taco : but its weird cause if u put 1 coin in right now, on 100x leverage
[2017-02-28 07:09:12] Taco : it says its like 6$ less and ur cleaned
[2017-02-28 07:09:18] ayy_lmao : yes
[2017-02-28 07:09:19] Taco : what is MM margin?
[2017-02-28 07:09:29] Taco : but 6$ x 100 isnt ur 1 coin
[2017-02-28 07:09:32] Taco : its 600$
[2017-02-28 07:09:37] ayy_lmao : the amount of collateral you need in order to keep or maintain the trade open
[2017-02-28 07:09:52] Taco : but why is it not 12$
[2017-02-28 07:09:58] Taco : when 12$ x10 is 1200$ aka 1 btc ~
[2017-02-28 07:09:59] BitMEX_John : Taco: maintenance margin
[2017-02-28 07:10:20] Taco : ok and maintenance margin is what one more time
[2017-02-28 07:10:23] Farzad : gm fellow trolls
[2017-02-28 07:10:26] Taco : with no other terms that i wouldnt know
[2017-02-28 07:10:38] BitMEX_John : Taco: as we said earlier, you aren't liquidated at your bankruptcy price because then we can't close the position without taking a loss
[2017-02-28 07:11:01] Taco : I'm confused on that
[2017-02-28 07:11:07] ayy_lmao : bitmex requires other trades to clean or close your liquidation
[2017-02-28 07:11:08] Taco : on why that is
[2017-02-28 07:11:10] ayy_lmao : traders
[2017-02-28 07:11:18] ayy_lmao : if nobody cleans up your liquidation
[2017-02-28 07:11:20] ayy_lmao : bitmex takes a loss
[2017-02-28 07:11:24] ayy_lmao : because they loaned you the money
[2017-02-28 07:11:38] BitMEX_John : ayy_lmao: that's not quite how it works :)
[2017-02-28 07:11:38] Taco : yes and now what im saying about earlier is
[2017-02-28 07:11:47] Taco : 100x is pointless to do
[2017-02-28 07:11:48] Taco : when 50x
[2017-02-28 07:11:56] BitMEX_John : no one loans anyone anything at BitMEX
[2017-02-28 07:12:00] Taco : well, idk what im talkinga bout
[2017-02-28 07:12:19] ayy_lmao : they "loaned" fake "bitcoins"
[2017-02-28 07:12:20] BitMEX_John : Taco: the difference between 100x and 50x is the margin requirement
[2017-02-28 07:13:06] ayy_lmao : Taco: in order to make that $10k on 50x, you now need price to go up $200
[2017-02-28 07:13:08] BitMEX_John : opening a 50x position of the same amount of contracts requires more account balance than opening at 100x
[2017-02-28 07:13:39] BitMEX_John : Taco: you can see the margin requirements for the swap contracts here - https://www.bitmex.com/app/contract/XBTUSD
[2017-02-28 07:14:03] BitMEX_John : Taco: each contract has a different margin requirement and different maximum leverage
[2017-02-28 07:14:35] Taco : depending on what?
[2017-02-28 07:15:08] Farzad : /wall
[2017-02-28 07:15:10] trollbot : ``` ±$30 Bid|Ask liquidity of 4 exchanges: 5046 Ƀ (2.79%) | 3762 Ƀ (21.04%) Last query: 14313 Seconds ago.```
[2017-02-28 07:15:29] Farzad : /price
[2017-02-28 07:15:33] trollbot : ``` Bitstamp : 1192.82 (-0.52%) Bitfinex : 1194.70 (-0.56%) The Woodchipper : 1189.47 (-0.30%) itBit : 1181.33 (-1.39%) Kraken : 1190.57 (-0.32%) GDAX : 1194.25 (-0.44%) Last query : 4130 Seconds ago.```
[2017-02-28 07:16:06] BitMEX_John : Taco: we set the maximum leverage for each contract
[2017-02-28 07:16:12] BitMEX_John : it is mostly related to liquidity
[2017-02-28 07:16:34] BitMEX_John : if there is more liquidity it is easier to offer more leverage because we don't have to ADL as often
[2017-02-28 07:18:39] wurstgelee : when was the last ADL event on swaps?
[2017-02-28 07:19:45] BitMEX_John : wurstgelee: I will ask the team and get back to you
[2017-02-28 07:21:47] wurstgelee : not that important, just curious
[2017-02-28 07:21:52] wurstgelee : :)
[2017-02-28 07:22:38] BitMEX_John : wurstgelee: I beleive we had some ADL occur during the earlier big wicks
[2017-02-28 07:22:59] BitMEX_John : wurstgelee: that's usually when it happens
[2017-02-28 07:23:14] aethlios : 0.0014 minimum fee to withdraw, scaling debate will become hot soon.
[2017-02-28 07:23:36] wurstgelee : that would make sense.
[2017-02-28 07:24:22] Farzad : /wall
[2017-02-28 07:24:26] trollbot : ``` ±$30 Bid|Ask liquidity of 4 exchanges: 4938 Ƀ (0.59%) | 3698 Ƀ (18.98%) Last query: 555 Seconds ago.```
[2017-02-28 07:25:11] Taco : hey
[2017-02-28 07:25:15] Taco : john
[2017-02-28 07:25:16] wurstgelee : Farzad: thanks!!!
[2017-02-28 07:25:20] wurstgelee : :D
[2017-02-28 07:25:31] Farzad : wurstgelee: its even better now :D
[2017-02-28 07:25:32] Farzad : /wall
[2017-02-28 07:25:35] trollbot : ``` ±$30 Bid|Ask liquidity of 4 exchanges: 5003 Ƀ (0.00%) | 3753 Ƀ (0.00%) SLQ: ```
[2017-02-28 07:25:36] wurstgelee : yeah
[2017-02-28 07:25:38] Taco : if you risk 1 coin (1200) , and coins go down 6$ and my posiiton is closed
[2017-02-28 07:25:39] wurstgelee : it is
[2017-02-28 07:25:48] Farzad : oh ! where is it ? lol
[2017-02-28 07:25:51] Taco : 100x on long and it goes down 6$
[2017-02-28 07:26:01] Taco : and my position is closed, do i get back .5 coin?
[2017-02-28 07:26:22] Farzad : /wall
[2017-02-28 07:26:24] trollbot : ``` ±$30 Bid|Ask liquidity of 4 exchanges: 4998 Ƀ (-0.10%) | 3703 Ƀ (-1.33%) SLQ: 49 seconds```
[2017-02-28 07:26:40] Farzad : wurstgelee: since last query is human readable now
[2017-02-28 07:26:48] Farzad : SLQ
[2017-02-28 07:26:55] BitMEX_John : Taco: if your position is liquidated you will lose all the margin allocated to that position
[2017-02-28 07:27:07] wurstgelee : yep, really better now
[2017-02-28 07:27:27] BitMEX_John : Taco: the difference between the price you are closed at and your bankruptcy price is paid into the insurance fund
[2017-02-28 07:28:39] Farzad : seems we are stock on 1200. lol
[2017-02-28 07:28:59] Taco : john that doesnt make sense to me
[2017-02-28 07:29:09] elmorte : wow, you can sell on LBC for higher price than XBC here...
[2017-02-28 07:29:16] Taco : how you can risk 1200 (1 coin) on 100x long, coins drop 6% , and you lose 1200$
[2017-02-28 07:29:22] vgck : BitMEX_John: Why not just return it to the user?
[2017-02-28 07:29:29] Farzad : elmorte: what is LBC ?
[2017-02-28 07:29:32] Taco : 6$*
[2017-02-28 07:29:35] elmorte : localbitcoins
[2017-02-28 07:30:52] Farzad : elmorte: LBC has been always more expensive.
[2017-02-28 07:30:55] elmorte : I just needed to transfer some money to China...bought at localbitcoins in Malaysia, sold in China, and ended up in the green still
[2017-02-28 07:31:03] Farzad : Taco: It totally makes sense, if u think about it.
[2017-02-28 07:31:05] elmorte : Farzad: to buy yes, but not to sell
[2017-02-28 07:31:18] Taco : how does that makes sense?
[2017-02-28 07:31:20] elmorte : Price at OKC is <8000
[2017-02-28 07:31:29] micmix : Taco: but you can make insane profit if it goes your way
[2017-02-28 07:31:41] Taco : but that's like you have it on 200x
[2017-02-28 07:31:45] Taco : if coins drop 5$
[2017-02-28 07:31:47] Taco : u get cleaned
[2017-02-28 07:32:00] Farzad : elmorte: oh ok
[2017-02-28 07:32:05] elmorte : Taco: you keep confusing position size with risk
[2017-02-28 07:32:32] BitMEX_John : Taco: no, if you have 1200 swap contracts on 100x leverage the most you can lose is 0.0115 XBT at a price of $1200
[2017-02-28 07:32:32] REKT : Liquidated long on `XBTH17`: sell 800 @ 1220.20
[2017-02-28 07:32:49] NooBTCrader : /price
[2017-02-28 07:32:54] trollbot : ``` Bitstamp : 1192.00 (19.20%) Bitfinex : 1195.10 (19.51%) The Woodchipper : 1184.85 (18.48%) itBit : 1192.99 (19.30%) Kraken : 1191.80 (19.18%) GDAX : 1195.81 (19.58%) SLQ : ```
[2017-02-28 07:32:57] KyllingLolsson : /rice
[2017-02-28 07:33:05] KyllingLolsson : no rice?
[2017-02-28 07:33:12] BitMEX_John : vgck: no exchange gives you the difference if you are liquidated
[2017-02-28 07:33:13] Taco : No i'm saying this. You load 1 coin onto here, and you put it all in at 100x on long, and coins drop 6$, u lose ur 1 coin
[2017-02-28 07:33:27] BitMEX_John : vgck: we don't want to encourage people to get liquidated
[2017-02-28 07:33:27] Taco : 6$ x 100 is 600$
[2017-02-28 07:33:36] elmorte : 100x is just for the position size
[2017-02-28 07:33:41] vgck : BitMEX_John: lol ok I understand
[2017-02-28 07:33:43] elmorte : max position size
[2017-02-28 07:33:56] Taco : yeah so youre position size should be 1200$ x 100
[2017-02-28 07:33:58] BitMEX_John : Taco: so how many contracts is that?
[2017-02-28 07:34:10] Taco : it should be 120k
[2017-02-28 07:34:38] elmorte : 1194 x 100 = 119400
[2017-02-28 07:34:58] InvalidUser : bawler
[2017-02-28 07:35:24] Taco : yeah
[2017-02-28 07:35:30] Taco : im just saying 1200 to make it an easier number
[2017-02-28 07:35:35] Taco : so you have 120k contracts
[2017-02-28 07:35:38] Taco : and coins go down 6$
[2017-02-28 07:36:07] Taco : so your 100 coins drops 6$ , u go down 600$
[2017-02-28 07:36:16] Taco : but, when that happens, u are out
[2017-02-28 07:36:18] BitMEX_John : Taco: yes because you have 120,000USD of exposure for only depositing 1200USD worth of bitcoin, that's a pretty good deal I think
[2017-02-28 07:36:20] Taco : and your 1 coin (1200$) is gone
[2017-02-28 07:36:42] Taco : it's just if it goes the flip way
[2017-02-28 07:37:01] elmorte : so now you have 1194 in margin for 120k...that's only 0.5%
[2017-02-28 07:37:04] micmix : Taco: we need ppl to contribute to the insurance fund, too many crazy 100x longer here
[2017-02-28 07:37:36] CaptainDean : micmix: i need you to have a new contest soon ;-)
[2017-02-28 07:37:42] BitMEX_John : Taco: yes, you lose your margin if the price moves far enough against you
[2017-02-28 07:38:05] BitMEX_John : Taco: that's to ensure the trader that has taken the other side of your position can be paid
[2017-02-28 07:38:06] odieoh : You realize they have to set the liquidation price in a way to be able to exit your position in case of a very fast swing- yes your liquidation price was $6 below your buy in price, but what if the price drops $10 very suddently? There has to be some cushion in there to get out of your position
[2017-02-28 07:38:34] micmix : without insurance fund we would have big socialized losses on every $10 moves with crazy 100x longers
[2017-02-28 07:38:35] Taco : ok i see
[2017-02-28 07:39:01] micmix : CaptainDean: did you already lose that 0.5 btc trading here? lol
[2017-02-28 07:39:15] Farzad : long story short, dont trade with high leverage :D
[2017-02-28 07:39:25] elmorte : Taco: https://www.bitmex.com/app/contract/XBTUSD
[2017-02-28 07:39:30] elmorte : See under maint. margin
[2017-02-28 07:39:37] elmorte : So once you go below that, it's lights out
[2017-02-28 07:40:11] CaptainDean : micmix: hahah nope ;-) I didn't trade much to be honnest
[2017-02-28 07:40:12] BitMEX_John : Taco: please see the link @elmorte just posted it explains what the margin requirement is, breaks it down
[2017-02-28 07:40:22] Taco : ok
[2017-02-28 07:40:30] CaptainDean : micmix: i only do small trade for fun
[2017-02-28 07:41:17] micmix : anything above 20x leverage is crazy with current volatility anyway, you're guaranteed to get rekt @Taco
[2017-02-28 07:41:32] Taco : not if u wait for the right time
[2017-02-28 07:41:41] odieoh : and therein lies the rub
[2017-02-28 07:41:45] elmorte : godspeed
[2017-02-28 07:41:55] odieoh : You can think you are finding "the right time"
[2017-02-28 07:42:13] odieoh : but stop kidding yourself, you are guessing and you are gambling, just like the rest of us
[2017-02-28 07:42:50] micmix : CaptainDean: good, too many rekts here lately
[2017-02-28 07:43:11] CaptainDean : micmix: i sold a real coin, that all i have done for now
[2017-02-28 07:43:23] CaptainDean : micmix: that's all I have*
[2017-02-28 07:43:34] odieoh : whats a "real coin?"
[2017-02-28 07:43:47] CaptainDean : odieoh: we trade contract here, I sold a coin for cash
[2017-02-28 07:44:05] CaptainDean : odieoh: 1 bitcoin for cash
[2017-02-28 07:44:21] odieoh : Here on Bitmex?
[2017-02-28 07:44:30] MikeHunt : i get feeling this ascending triangle is fake and they gonna rekt people once its near completion
[2017-02-28 07:44:57] MikeHunt : down to 1k and then back up again for etf
[2017-02-28 07:45:43] BitMEX_John : odieoh: he would have withdrawn it first, we only deal with bitcoin here
[2017-02-28 07:45:46] CaptainDean : odieoh: no, Bitmex allow you to use Bitcoin buy the contract and receive (or lose) bitcoin when you close your position
[2017-02-28 07:46:01] InvalidUser : The next best shit coin
[2017-02-28 07:46:34] CaptainDean : odieoh: like @BitMEX_John I used an external service to sell the bitcoin for cash
[2017-02-28 07:46:47] CaptainDean : odieoh: another trading platform
[2017-02-28 07:46:55] odieoh : I see. Thanks
[2017-02-28 07:46:59] InvalidUser : Atls are for pussys who think they have missed the BTC market... You have not seen nothing yet in BTC
[2017-02-28 07:47:27] CaptainDean : odieoh: like he said***
[2017-02-28 07:48:15] heheh lo : next leg up on eth hmmm
[2017-02-28 07:51:26] InvalidUser : Atls are for pussys who think they have missed the BTC market... You have not seen nothing yet in BTC
[2017-02-28 07:51:28] jolin : funding 0.1371% means if I short I get if I long I pay?
[2017-02-28 07:52:16] arbitrage101 : jolin: correct
[2017-02-28 07:52:24] jolin : arbitrage101: txs
[2017-02-28 07:52:58] InvalidUser : WTF weird that is not what I typed
[2017-02-28 07:53:39] InvalidUser : the second time
[2017-02-28 07:54:01] odieoh : Your double negative confused the trollbox
[2017-02-28 07:54:05] CaptainDean : youi porbably pressed UP without knowing
[2017-02-28 07:54:09] CaptainDean : knowing*
[2017-02-28 07:54:18] InvalidUser : lol
[2017-02-28 07:59:56] InvalidUser : odieoh: Are you long, short, or out?
[2017-02-28 08:00:57] heheh lo : btc touches the cloud ohhh
[2017-02-28 08:01:06] InvalidUser : (:
[2017-02-28 08:01:10] mtourig3 : i think everythings going up: http://coinmarketcap.com/charts/
[2017-02-28 08:01:42] mtourig3 : long term
[2017-02-28 08:01:45] mtourig3 : obvs
[2017-02-28 08:02:55] InvalidUser : We will see whats up here in about 12 min
[2017-02-28 08:03:23] mtourig3 : InvalidUser: why 12min? you have chart TA?
[2017-02-28 08:03:53] InvalidUser : mtourig3: I am looking at the data a guessing what other traders will do with that info
[2017-02-28 08:06:18] mtourig3 : i think theres gonna be a small fake out down and then it goes back up 1222+
[2017-02-28 08:06:30] mtourig3 : imo
[2017-02-28 08:08:22] jolin : mtourig3: agree
[2017-02-28 08:08:40] ayy_lmao : same
[2017-02-28 08:08:45] jolin : >1222+ goes to 1342+
[2017-02-28 08:09:10] mtourig3 : jolin: yup
[2017-02-28 08:09:41] jolin : my blockchain incoming transaction is pending >24h is it normal?
[2017-02-28 08:10:25] mtourig3 : https://twitter.com/VinnyLingham/status/834812893484957702
[2017-02-28 08:10:41] mtourig3 : he was 100% right before
[2017-02-28 08:12:48] abbey : next new highs will wake mainstream media and social media up -> hype -> up -> etf hype -> more up -> epic short squeeze + etf -> The Mars. Choose your sides.
[2017-02-28 08:13:22] Farzad : /wall
[2017-02-28 08:13:25] trollbot : ``` ±$30 Bid|Ask liquidity of 4 exchanges: 5700 Ƀ (13.93%) | 3870 Ƀ (3.12%) SLQ: 47 minutes, 1 second```
[2017-02-28 08:14:30] Farzad : we dont think we are going any higher anytime sooon
[2017-02-28 08:14:47] Farzad : I *
[2017-02-28 08:15:07] BitMEX_John : jolin: at the moment the bitcoin network is working at capacity and the fees for transactions are higher than historically normal
[2017-02-28 08:15:10] Farzad : a lot of resistance on 1200
[2017-02-28 08:15:13] InvalidUser : abbey: We already woke them up..... MSM has been saying we are legit but a POS for 9 mo not. Now were the cool kid in town Even though "we are a worthless POS bubble coin"
[2017-02-28 08:15:30] BitMEX_John : jolin: this means it takes a while to get the transactions confirmed
[2017-02-28 08:15:32] InvalidUser : now
[2017-02-28 08:15:50] Farzad : use this site for fees : https://bitcoinfees.21.co
[2017-02-28 08:16:00] jolin : BitMEX_John: but >24h come on
[2017-02-28 08:16:30] Farzad : jolin: what is your transaction tx id ?
[2017-02-28 08:16:33] mtourig3 : abbey: i think alot will happen in march
[2017-02-28 08:16:49] BitMEX_John : jolin: it's out of our hands unfortunately, but I agree, it is annoying
[2017-02-28 08:17:08] Farzad : jolin: There is nothing BitMex can do. u paid a low fee.
[2017-02-28 08:17:17] jolin : https://btc.blockr.io/tx/info/b27220357753942295c2f49756730255af71fcd45d466152e4e849cebb8615df
[2017-02-28 08:18:18] abbey : mtourig3: yeah, march starting soon
[2017-02-28 08:18:46] Farzad : jolin: omg ! 35.743 sat/B
[2017-02-28 08:18:48] Farzad : lol
[2017-02-28 08:19:01] Farzad : dont expect it to be confirmed any time soon
[2017-02-28 08:19:19] InvalidUser : These guys will prioritize your transaction https://www.viabtc.com/tools/txaccelerator/
[2017-02-28 08:19:21] Farzad : jolin: did u send it yourslef ? or withdrew from somewhere ?
[2017-02-28 08:19:37] jolin : Farzad: it was sent to me
[2017-02-28 08:19:55] Farzad : jolin: this fee is extremely low !
[2017-02-28 08:20:04] mtourig3 : this is already starting to gain momentum: https://trends.google.ca/trends/explore?q=bitcoin
[2017-02-28 08:20:22] Farzad : your only hope is this : https://www.viabtc.com/tools/txaccelerator/
[2017-02-28 08:20:33] InvalidUser : /\
[2017-02-28 08:20:41] Farzad : put in your tx id and hope they mine it
[2017-02-28 08:20:43] jolin : what forma transaction id to use
[2017-02-28 08:20:57] mtourig3 : Farzad: that works?
[2017-02-28 08:21:06] Farzad : mtourig3: yes
[2017-02-28 08:21:17] mtourig3 : thanks
[2017-02-28 08:21:37] Farzad : jolin: with that fee, your transaction may take weeks to confirm or may be never
[2017-02-28 08:22:06] Farzad : jolin: anyone who sent this transaction is plain stupid
[2017-02-28 08:22:49] Farzad : jolin: this is your tx id : b27220357753942295c2f49756730255af71fcd45d466152e4e849cebb8615df
[2017-02-28 08:23:20] jolin : Farzad: ok entered, hope it will help
[2017-02-28 08:23:39] Farzad : jolin: fingers crossed ;)
[2017-02-28 08:23:53] Farzad : jolin: may I ask who sent this transaction ?
[2017-02-28 08:23:57] jolin : its f u c k I n g freebitco.in
[2017-02-28 08:24:23] mtourig3 : lol
[2017-02-28 08:24:26] mtourig3 : sounds legit
[2017-02-28 08:25:05] InvalidUser : **"time to vape"**
[2017-02-28 08:25:26] aethlios : Unconfirmed Transactions Optimal Fee / Kb Low Priority Fee / Kb 30,838 (45,946.99 Kb) 0.00180664 BTC 0.00135735 BTC fees to the roof
[2017-02-28 08:25:28] Farzad : jolin: may be they do it on purpose so transaction gets canceled after a long time in mem pool
[2017-02-28 08:25:37] InvalidUser : aka smoke em if you got em
[2017-02-28 08:25:57] jolin : Farzad: up to date it was ok
[2017-02-28 08:26:22] Ovan : /wall
[2017-02-28 08:26:26] trollbot : ``` ±$30 Bid|Ask liquidity of 4 exchanges: 5903 Ƀ (17.99%) | 4070 Ƀ (8.45%) SLQ: 13 minutes, 1 second```
[2017-02-28 08:27:34] vgck : /sentiment
[2017-02-28 08:27:37] trollbot : ``` Sell/Buy Ratio Sentiment Hourly : 43.30 / 56.71 Daily : 51.82 / 48.18 Weekly : 49.24 / 50.76 Monthly : 48.32 / 51.68```
[2017-02-28 08:28:02] vgck : How likely is it that we retest ATH before an ETF decision? Or can we just go down from here?
[2017-02-28 08:28:24] jolin : vgck: I bet 75% new ath
[2017-02-28 08:28:52] jolin : just too shallow retracements ... imho
[2017-02-28 08:29:06] jolin : shitdips...lol:)
[2017-02-28 08:29:46] mtourig3 : yeah youd think a 40$ drop in minutes would start something
[2017-02-28 08:30:18] mtourig3 : i think it goes above ath, but may stall before the 11th
[2017-02-28 08:30:31] vgck : jolin: If you don't mind me asking: What is your liquidation price? Do you have stops set if we do drop down?
[2017-02-28 08:30:32] mtourig3 : then will break up or down once everyone knows
[2017-02-28 08:30:52] jolin : vgck: its<1000
[2017-02-28 08:31:19] jolin : stops don't help
[2017-02-28 08:31:29] jolin : so better have proper sizing
[2017-02-28 08:31:37] jolin : and entries
[2017-02-28 08:31:39] vgck : jolin: So you're not worried/don't think it'll drop below 1000?
[2017-02-28 08:31:55] jolin : vgck: look...we speculate, right?
[2017-02-28 08:32:07] jolin : means we accept the risk...lol
[2017-02-28 08:32:07] jolin : means we accept the risk...lol
[2017-02-28 08:32:13] jolin : and MANAGE IT
[2017-02-28 08:32:24] jolin : just my perspective
[2017-02-28 08:32:58] abbey : jolin: true
[2017-02-28 08:34:39] Taco : wait so what's the fee when using the perpetual swap one
[2017-02-28 08:35:16] abbey : my liqs are way under 1K and about 6K yuan future
[2017-02-28 08:35:36] BitMEX_John : Taco: you pay a fee on entry which is at either a maker or taker rate and you also pay a funding rate which in some cases may be a rebate
[2017-02-28 08:35:48] BitMEX_John : Taco: https://www.bitmex.com/app/fees
[2017-02-28 08:38:17] Taco : ok and john last question, if you open the calculator and type in 60k quantity , aka 1 coin on 50x , and u put the entry price 1200, exit price 1300, and leverage at 50, which number is the profit?
[2017-02-28 08:38:34] Taco : profit/loss right?
[2017-02-28 08:38:59] ayy_lmao : yes
[2017-02-28 08:39:39] Taco : why is the profit lower than 100$ x 50 then
[2017-02-28 08:40:02] ayy_lmao : lower than what?
[2017-02-28 08:40:08] Taco : quantity 60k
[2017-02-28 08:40:13] Taco : entry price 1200
[2017-02-28 08:40:16] Taco : exit price 1300
[2017-02-28 08:40:19] Taco : leverage 50
[2017-02-28 08:40:26] Taco : so you are making 50 x 100$
[2017-02-28 08:40:32] Taco : which is 5k
[2017-02-28 08:40:33] ayy_lmao : no
[2017-02-28 08:40:42] ayy_lmao : find out the value of 60k contracts
[2017-02-28 08:40:58] Taco : 60k contracts, is 1 coin on 50x isnt it?
[2017-02-28 08:41:03] Taco : at least, it should be
[2017-02-28 08:41:10] ayy_lmao : Entry Value 49.9998 XBT
[2017-02-28 08:41:12] Taco : because 120k contracts is 1 coin on 100x
[2017-02-28 08:41:21] ayy_lmao : 60k contracts is 50 BTC
[2017-02-28 08:41:26] ayy_lmao : it lets you trade with 50 btc
[2017-02-28 08:41:33] ross : Why is everyone else so far behind?
[2017-02-28 08:41:36] Taco : how do i make it on that calc
[2017-02-28 08:41:45] Taco : have entry value as 1 coin
[2017-02-28 08:41:46] ayy_lmao : from there you multiply the dollar amount times btc value
[2017-02-28 08:41:54] heheh lo : index at eth is going insane
[2017-02-28 08:41:56] ross : I'm retarded was on future
[2017-02-28 08:42:08] ayy_lmao : Taco: it is
[2017-02-28 08:42:12] ayy_lmao : but i think you misunderstand it
[2017-02-28 08:42:16] elmorte : ross: been there many times
[2017-02-28 08:42:37] ayy_lmao : 60k contracts is another way of saying 50 BTC
[2017-02-28 08:42:49] Taco : ok yeah
[2017-02-28 08:42:53] Taco : but w/ 50 leverage
[2017-02-28 08:42:58] Taco : 60k contracts would be
[2017-02-28 08:43:02] Taco : 60k /50 right?
[2017-02-28 08:43:09] ayy_lmao : contract size is always the same
[2017-02-28 08:43:14] Taco : which is, 1 coin?
[2017-02-28 08:43:15] ayy_lmao : no matter leverage
[2017-02-28 08:43:21] BitMEX_John : Taco: one contract is 1USD of bitcoin at any price
[2017-02-28 08:43:23] Taco : ok
[2017-02-28 08:43:35] ayy_lmao : leverage just lets you play with more contracts
[2017-02-28 08:43:44] BitMEX_John : Taco: so right now 1XBT if exposure would require you to have 1190 contracts
[2017-02-28 08:43:46] Taco : yeah
[2017-02-28 08:44:19] BitMEX_John : Taco: 60K contracts at the current price (say 1190) is 50.4XBT
[2017-02-28 08:44:32] Taco : not if you are on 50x leverage
[2017-02-28 08:44:36] Taco : u can purchase that with only 1 coin then, correct?
[2017-02-28 08:44:43] Taco : lets just say 1200
[2017-02-28 08:45:10] ayy_lmao : yes 1 coin
[2017-02-28 08:45:13] BitMEX_John : Taco: the leverage doesn't effect the value of your position, 60K contracts is 60K USD of exposure, no matter the leverage
[2017-02-28 08:45:34] Taco : yes, but you can purchase taht
[2017-02-28 08:45:36] Taco : with 1 coin only
[2017-02-28 08:46:24] elmorte : Taco: when you click Buy / Long, the confirmation screen tells you how much you need at specified leverage
[2017-02-28 08:46:35] Taco : yeah
[2017-02-28 08:46:36] BitMEX_John : Taco: yes you can open a position of 60,000 contracts at the current price with roughly 1XBT
[2017-02-28 08:46:48] Taco : ok so john
[2017-02-28 08:46:51] Taco : if i do that
[2017-02-28 08:46:55] Taco : and coins go up 100$ , and im longing
[2017-02-28 08:47:02] Taco : I make, 100$ x 50, correct/
[2017-02-28 08:47:46] ayy_lmao : $100 X contract value
[2017-02-28 08:47:49] Taco : its all starting to make sense now
[2017-02-28 08:48:03] BitMEX_John : Taco: you make the difference between your entry and exit value - so your entry value is -50XBT and your exit is -46XBT so you get 4XBT
[2017-02-28 08:48:21] Taco : ok i see now
[2017-02-28 08:48:46] Taco : the only thing that isnt good is 100x because of how, if it goes negative ,its technically at 200x lol
[2017-02-28 08:48:48] Taco : u lose 5$ ur cleaned