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 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
[2017-02-28 08:48:53] Taco : but on 50x, u have 16$ of wiggle room
[2017-02-28 08:48:55] Taco : when it should be 20
[2017-02-28 08:49:00] Taco : if there was no loaning invovled
[2017-02-28 08:49:03] ayy_lmao : yup
[2017-02-28 08:49:07] Taco : and u didnt need to worry about going negative
[2017-02-28 08:49:13] Taco : that's why ive been so confused
[2017-02-28 08:49:18] ayy_lmao : bitmex doesnt like that word btw
[2017-02-28 08:49:25] Taco : well i mean really
[2017-02-28 08:49:29] Taco : it clarifies things quite well
[2017-02-28 08:49:33] Taco : becuase they need to pay back the loaner
[2017-02-28 08:49:34] ayy_lmao : yeah
[2017-02-28 08:49:39] BitMEX_John : Taco: the point about leverage that I am trying to get across is that that 60K position is the same at 20x leverage, 50x leverage and 100x leverage, you still make 4XBT on the price move you used in your example
[2017-02-28 08:49:51] Taco : and if coins drop 20$ they still owe the guy 120x 1200$
[2017-02-28 08:50:07] Taco : even tho coins are now 1180, so the 100 coins isnt even 120k anymore
[2017-02-28 08:50:27] Taco : yeah i understand that
[2017-02-28 08:51:00] Taco : so for somethign like what ive been talking about
[2017-02-28 08:51:05] Taco : do u recommend trading on perpetual swap?
[2017-02-28 08:51:23] Taco : because the price is closest to the prices on bitstamp / okc
[2017-02-28 08:51:50] BitMEX_John : Taco: it really comes down to personal preference and how long you want to hold the position for and in what direction
[2017-02-28 08:51:56] ayy_lmao : okc is at 1186
[2017-02-28 08:52:05] ayy_lmao : stamp is at 1192
[2017-02-28 08:52:10] BitMEX_John : Taco: historically longs are likely to be charged a funding fee on the swaps so over a long period of time this can eat into your margin
[2017-02-28 08:52:50] Taco : but the mar 31st price
[2017-02-28 08:52:52] Taco : is like
[2017-02-28 08:52:54] Taco : way off lol
[2017-02-28 08:53:06] Taco : it's too swingy
[2017-02-28 08:53:08] Taco : for something like this
[2017-02-28 08:53:41] ayy_lmao : its easier to get rekt on mar 31 with high leverage
[2017-02-28 08:53:45] ayy_lmao : thats all i will say
[2017-02-28 08:53:56] Taco : so are those the only 2 places to trade
[2017-02-28 08:54:00] Taco : what is quarterly and all taht
[2017-02-28 08:54:05] Taco : there are like 3 on a list, but i cant find it anymore
[2017-02-28 08:54:07] abbey : futures with hi lev act like that
[2017-02-28 08:54:11] Taco : .3% up to 10%
[2017-02-28 08:54:54] Taco : Idk what futures even means
[2017-02-28 08:55:05] Taco : is that another trading area
[2017-02-28 08:55:10] Taco : like swap/mar 31st
[2017-02-28 08:55:52] ayy_lmao : mar 31 is a futures contract
[2017-02-28 08:55:57] abbey : those with ending date
[2017-02-28 08:55:59] ayy_lmao : stamp is a spot exchange
[2017-02-28 08:56:20] Taco : and swap is stamp righ
[2017-02-28 08:56:31] ayy_lmao : swap is futures as well
[2017-02-28 08:56:36] InvalidUser : TPB 4 FYW
[2017-02-28 08:56:37] ayy_lmao : sorta
[2017-02-28 08:56:40] BitMEX_John : Taco: please read our Futures Guide it explains how futures work https://www.bitmex.com/app/futuresGuide
[2017-02-28 08:57:04] abbey : ayy_lmao: yeah
[2017-02-28 08:57:13] ayy_lmao : swap is kinda its own thing
[2017-02-28 08:57:41] Taco : which one do u recommend me using ayy_lmao
[2017-02-28 08:57:42] aethlios : BitMEX_John: hi John, what is this ethmex.com?? are you implementing a bitmex exchange based in eth?? consider adding the old daily 24H contract for ethusd.
[2017-02-28 08:58:17] BitMEX_John : aethlios: we have owned that domain for over a year for brand protection purposes
[2017-02-28 08:58:38] BitMEX_John : aethlios: we will further consider new ethereum based contracts if the demand is high enough
[2017-02-28 08:58:42] ayy_lmao : swap sways less from stamp
[2017-02-28 08:58:49] ayy_lmao : if you like to chart stamp
[2017-02-28 08:58:51] ayy_lmao : you will like swap
[2017-02-28 08:59:00] ayy_lmao : if you like to chart okc quarter
[2017-02-28 08:59:03] ayy_lmao : you will like mar 31
[2017-02-28 08:59:13] arbitrage101 : and this too: www.shitmex.com
[2017-02-28 08:59:20] ayy_lmao : if you like to trade stamp, i would not recommend mar 31
[2017-02-28 08:59:26] arbitrage101 : shit mex .com
[2017-02-28 08:59:33] ayy_lmao : if you like to trade okc quarter i would not reccomend swap
[2017-02-28 09:00:54] Taco : none of that even makes sense to me
[2017-02-28 09:00:59] BitMEX_John : arbitrage101: maybe we will roll out some XBTSHT contracts ;)
[2017-02-28 09:01:10] ayy_lmao : taco
[2017-02-28 09:01:16] ayy_lmao : what exchanges do you chart
[2017-02-28 09:01:24] Taco : i don even knwo what that means
[2017-02-28 09:01:29] Taco : i look at bitstamp prices
[2017-02-28 09:01:33] Taco : to value the price of bitcoin
[2017-02-28 09:01:35] Taco : and i have coinbase
[2017-02-28 09:01:35] ayy_lmao : trade swap then
[2017-02-28 09:01:46] Taco : kk
[2017-02-28 09:01:47] ayy_lmao : if u long more than short
[2017-02-28 09:01:51] BitMEX_John : Taco: if futures don't make sense it is probably best for you to trade swap for now, it is most similar to what people are used to if they have never traded futures before
[2017-02-28 09:01:56] ayy_lmao : the funding will cost more than mar 31
[2017-02-28 09:02:02] ayy_lmao : but mar 31 doesnt like to behave with stamp
[2017-02-28 09:02:12] Taco : what even controls mar 31st
[2017-02-28 09:02:18] ayy_lmao : okc quarter futures
[2017-02-28 09:02:25] ayy_lmao : https://cryptowat.ch/okcoin/btcusd-quarterly-futures/15m
[2017-02-28 09:02:40] ayy_lmao : nevermind lol
[2017-02-28 09:02:41] Taco : so when i trade on swap, am i paying fees every 8 hrs?
[2017-02-28 09:02:51] ayy_lmao : usually for longs
[2017-02-28 09:03:02] arbitrage101 : Taco: or getting paid
[2017-02-28 09:03:09] BitMEX_John : Taco: the funding fee is paid at the end of every eight hour period
[2017-02-28 09:03:09] arbitrage101 : no free lunch here
[2017-02-28 09:03:15] Taco : how much are teh fees to get paid>
[2017-02-28 09:03:30] BitMEX_John : Taco: https://www.bitmex.com/app/swapsGuide#Funding
[2017-02-28 09:03:30] Taco : like say i make 25k in coins
[2017-02-28 09:04:30] ross : Is the fee not the funding rate x number of contracts (per 1000)
[2017-02-28 09:04:50] Taco : so if i turn 1k into 25k
[2017-02-28 09:04:53] Taco : how much the fee be
[2017-02-28 09:04:57] Taco : on swap
[2017-02-28 09:05:02] Taco : roughly ~
[2017-02-28 09:05:06] Taco : whether long or short
[2017-02-28 09:05:32] ayy_lmao : its funding rate * contract value
[2017-02-28 09:05:48] ayy_lmao : funding rate is 0.1371% right now
[2017-02-28 09:05:48] ross : Taco: if you made that in under 8 hours then multiple by funding rate
[2017-02-28 09:05:50] BitMEX_John : Taco: there's no way to predict like that
[2017-02-28 09:06:03] Taco : so if contract value is 60k
[2017-02-28 09:06:05] abbey : turn 1k to 25k.. how fast u was gonna do that?
[2017-02-28 09:06:11] Taco : its .13171*60k
[2017-02-28 09:06:18] ross : Correct
[2017-02-28 09:06:26] ross : Times 60
[2017-02-28 09:06:49] Taco : so would the fee be 7.9k
[2017-02-28 09:06:51] ross : Not 60,000
[2017-02-28 09:07:35] Taco : but if the contract value is 60k
[2017-02-28 09:08:06] ayy_lmao : you didnt enter the % right
[2017-02-28 09:08:20] Taco : 60,000 x .13171?
[2017-02-28 09:08:39] arbitrage101 : use the calculator on top
[2017-02-28 09:08:44] ross : He did, he's just trolling
[2017-02-28 09:08:50] Taco : i'm nor
[2017-02-28 09:08:52] Taco : not*
[2017-02-28 09:08:55] arbitrage101 : next to place order
[2017-02-28 09:08:57] Taco : what part of the calc do i look at
[2017-02-28 09:09:00] Taco : liqudation price?
[2017-02-28 09:09:05] Yong : Please, make ETH perpetual swap~!
[2017-02-28 09:09:11] arbitrage101 : entry and exit
[2017-02-28 09:09:12] abbey : 0.1317%!
[2017-02-28 09:09:23] arbitrage101 : and liquidation price
[2017-02-28 09:10:27] heheh lo : Yong: +1
[2017-02-28 09:10:38] Taco : oh im x by 13%
[2017-02-28 09:10:47] Taco : so u x it by .001317
[2017-02-28 09:10:47] ross : Taco: I like to look at it as funding rate * number of bitcoins in trade, e.g 1000 contracts = 1btc
[2017-02-28 09:11:01] Taco : ok cool
[2017-02-28 09:11:02] abbey : Taco: yes
[2017-02-28 09:11:07] Taco : now i get eet
[2017-02-28 09:11:09] Taco : ok ty
[2017-02-28 09:11:22] ayy_lmao : ross: i do as well
[2017-02-28 09:12:13] ayy_lmao : Taco: funding rate ranges from -.375 to +.375
[2017-02-28 09:12:35] ayy_lmao : negative = shorts pay , positive = long pays
[2017-02-28 09:12:42] Taco : ok
[2017-02-28 09:12:52] Taco : and it prob fluctautes to pay the less popular
[2017-02-28 09:13:05] ayy_lmao : basically
[2017-02-28 09:13:08] Taco : makes sense
[2017-02-28 09:13:15] Taco : so when the eth comes
[2017-02-28 09:13:22] Taco : ima yolo 5 coins on 50x
[2017-02-28 09:13:34] ayy_lmao : you crazy
[2017-02-28 09:13:42] ayy_lmao : lol
[2017-02-28 09:13:52] Taco : not if coins move 100$ in teh direction i pick
[2017-02-28 09:13:53] Taco : :p
[2017-02-28 09:14:06] ayy_lmao : could get stopped out right before tho
[2017-02-28 09:14:14] Taco : if they flucutuate 20$ yea
[2017-02-28 09:14:15] wagwanbebe : just looking, it doesnt seem as viable to golong on the ETF now haha have I missed the boat?
[2017-02-28 09:14:16] Taco : well 16$
[2017-02-28 09:14:36] Taco : i may do 2.5coins
[2017-02-28 09:14:50] Taco : and if coins drop 16$ and i lose my initial
[2017-02-28 09:14:51] Taco : try again
[2017-02-28 09:15:16] ayy_lmao : well u seem to be getting it
[2017-02-28 09:16:05] ayy_lmao : if you are a short term trader, swap funding rate shouldn't be an issue
[2017-02-28 09:16:10] ayy_lmao : but if you long term it, its rape
[2017-02-28 09:16:16] mtourig3 : COIN back up
[2017-02-28 09:16:20] ayy_lmao : unless you are short
[2017-02-28 09:16:29] Taco : yeah it will be
[2017-02-28 09:16:32] Taco : but i dont plan on that
[2017-02-28 09:16:41] Taco : i plan on capatlizing 5-6 times a year
[2017-02-28 09:16:50] Taco : during massive dips or rises in the market of btc
[2017-02-28 09:17:12] Taco : based off of massive things like when bitfinex got hacked, or when trump was elected
[2017-02-28 09:17:14] Taco : etc
[2017-02-28 09:17:18] Taco : trump*
[2017-02-28 09:17:21] Taco : wtf
[2017-02-28 09:17:21] Taco : LOL
[2017-02-28 09:17:24] Taco : trump
[2017-02-28 09:17:28] wagwanbebe : haha
[2017-02-28 09:17:39] ayy_lmao : bitmex fucked you
[2017-02-28 09:17:45] Taco : thats hilarious
[2017-02-28 09:17:52] Taco : hillary
[2017-02-28 09:17:55] Taco : ok just testing
[2017-02-28 09:17:56] Hoppap : /price
[2017-02-28 09:18:00] trollbot : ``` Bitstamp : 1192.00 (0.00%) Bitfinex : 1192.60 (-0.21%) The Woodchipper : 1188.76 (0.33%) itBit : 1190.00 (-0.25%) Kraken : 1194.02 (0.19%) GDAX : 1195.46 (-0.03%) SLQ : 1 hour, 45 minutes, 6 seconds```
[2017-02-28 09:18:23] ayy_lmao : fuck her right in the pussy
[2017-02-28 09:20:33] Taco : how do u change the leverage mid trade
[2017-02-28 09:20:36] Taco : or mid position or w/e
[2017-02-28 09:20:45] Taco : just slide it?
[2017-02-28 09:20:47] ayy_lmao : yes
[2017-02-28 09:20:54] Taco : but what if u have multiple in the same catagory
[2017-02-28 09:21:14] ayy_lmao : all that does is add or take away margin / collateral
[2017-02-28 09:21:17] BitMEX_Wally : jolin: Your transaction just got 1 block confirmation and has been credited to your account
[2017-02-28 09:21:35] ayy_lmao : your contract size will stay the same
[2017-02-28 09:21:58] Taco : so itll lower the liquadation price
[2017-02-28 09:21:58] Taco : ?
[2017-02-28 09:22:11] ayy_lmao : sure, but you need more collateral to back it up
[2017-02-28 09:22:13] ayy_lmao : meaning more at risk
[2017-02-28 09:22:16] ayy_lmao : I use cross
[2017-02-28 09:22:17] jolin : BitMEX_Wally: its interesting, Via BTC helped or else?
[2017-02-28 09:22:17] Taco : yeah ok i see
[2017-02-28 09:23:45] BitMEX_Wally : jolin: Actually, the txid you pasted did not have any BitMEX addresses as outputs, but it is confirmed nonetheless
[2017-02-28 09:24:07] jolin : BitMEX_Wally: I know, txs for update
[2017-02-28 09:24:25] jolin : once I get 3 conf I sent to BitMEX
[2017-02-28 09:24:31] BitMEX_Wally : I am not familiar with Via BTC, do you have to pay them?
[2017-02-28 09:24:51] jolin : no, just enter id transx
[2017-02-28 09:25:35] REKT : Liquidated long on `XBTUSD`: sell 1100 @ 1187.53
[2017-02-28 09:25:45] dodic : oh hello dip
[2017-02-28 09:25:53] abbey : fill me up bears!
[2017-02-28 09:26:15] mtourig3 : heres the fake out
[2017-02-28 09:26:29] BitMEX_Wally : The block was mined by ViaBTC so it looks like they did help!
[2017-02-28 09:26:37] REKT : Liquidated long on `XBTUSD`: sell 500 @ 1186.15
[2017-02-28 09:26:37] REKT : Liquidated long on `XBTUSD`: sell 400 @ 1185.85
[2017-02-28 09:26:37] REKT : Liquidated long on `XBTUSD`: sell 9 @ 1185.85
[2017-02-28 09:26:52] ayy_lmao : VIABTC the real MVPS
[2017-02-28 09:27:09] arbitrage101 : buy da dip, yo
[2017-02-28 09:27:17] arbitrage101 : 1200 soon
[2017-02-28 09:27:23] arbitrage101 : like the 3 dip before it
[2017-02-28 09:27:31] abbey : still a bit more, please
[2017-02-28 09:28:05] abbey : come to daddy
[2017-02-28 09:28:30] Ahhere : abbey: lol
[2017-02-28 09:30:39] Ahhere : abbey: u swap or march fan ?
[2017-02-28 09:31:02] abbey : both atm
[2017-02-28 09:31:23] ayy_lmao : okc go go go
[2017-02-28 09:31:47] REKT : Liquidated long on `XBTUSD`: sell 3500 @ 1184.25
[2017-02-28 09:31:47] REKT : Next stop - goblin town!
[2017-02-28 09:32:09] Ahhere : abbey: I've been playing with march that dip recently was awesome to buy and nice not to get raped on funding.