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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[2016-01-12 02:33:39] j8 : whales gonna whale
[2016-01-12 02:45:05] REKT : Liquidated short on `XBT24H`: Buy 11861 @ 450.14
[2016-01-12 02:45:05] REKT : Liquidated short on `XBT24H`: Buy 50 @ 450.24
[2016-01-12 02:46:05] REKT : Liquidated short on `XBT24H`: Buy 19016 @ 452.30 **MEGA-REKT** :boom:
[2016-01-12 02:57:51] kingscrown : if you want to get more users here help to spread this guide https://twitter.com/kingscrownBTC/status/686362523621306368 :)
[2016-01-12 03:07:09] cekseh : Or instead of spamming your ref links, people could spam their own.
[2016-01-12 03:49:26] kingscrown : cekseh: if u write such guide, then sure
[2016-01-12 03:49:48] kingscrown : i surely brang here more users than you, so dont hate. i give u liquidity
[2016-01-12 03:53:45] habibi : dont call this a guide man
[2016-01-12 03:56:32] cekseh : Nobody hating kiddo, just stating the obvious. Also making claims about things you don't know kinda labels yourself a fool
[2016-01-12 03:59:09] habibi : like this urs video... https://www.youtube.com/watch?v=wjSIsGfpfXw total bullshit and u says stuff like thatis a valuable lesson?
[2016-01-12 04:02:17] cekseh : I like the GAW shill video myself
[2016-01-12 04:02:36] cekseh : You could tell homero garza was a winner long before SEC
[2016-01-12 04:05:26] cekseh : all 3 gaw videos
[2016-01-12 04:05:29] cekseh : Including "Josh The HashKing"
[2016-01-12 04:05:56] cekseh : Dat paycoin gonna make everyone rich
[2016-01-12 04:08:33] kingscrown : give me your real names then we can speak ;)
[2016-01-12 04:08:54] kingscrown : for now its me with 80 affs vs your unknown names with possbiel less than 10
[2016-01-12 05:20:29] ethexio : dem bots
[2016-01-12 06:36:31] rapidtrades : okc now below btc-e, crzy stuff
[2016-01-12 06:36:53] rapidtrades : trade long enough and you'll see everything
[2016-01-12 06:39:03] rapidtrades : china below finex
[2016-01-12 06:40:48] rapidtrades : wonder when Americans will realize that China isn't pulling the horse anymore
[2016-01-12 06:42:27] habibi : yep not first time if u noticed
[2016-01-12 06:44:06] rapidtrades : right but last time we were trading near $400 not here near highs
[2016-01-12 06:50:42] laisee : cart < horse?
[2016-01-12 07:28:23] AudibleScience : thanks
[2016-01-12 07:29:17] ethexio : Any staff around to cancel withdraw request? Sent email to support.
[2016-01-12 07:30:10] ethexio : Ohh gunshots
[2016-01-12 07:31:47] BitMEX_Arthur : ethexio: Will take a look
[2016-01-12 07:37:56] ethexio : Thanks @BitMEX_Arthur
[2016-01-12 07:38:22] ethexio : BitMEX_Arthur: if a hassle no worries
[2016-01-12 09:20:53] REKT : Liquidated long on `XBTH16`: Sell 5 @ 522.81
[2016-01-12 09:39:20] BitMEX_Arthur : More details about tomorrow's webinar
[2016-01-12 09:39:22] BitMEX_Arthur : https://blog.bitmex.com/bitmex-arbitrage-lesson-2-webinar/
[2016-01-12 09:43:45] gaoMex : BitMEX_Arthur: Thank you. I will be interested in the cash and carry arbitrage.
[2016-01-12 09:46:06] gaoMex : The only thing is XBU7D ATM is not attractive for cash and carry arbitrage.
[2016-01-12 09:46:18] BitMEX_Arthur : That is true
[2016-01-12 09:46:37] BitMEX_Arthur : Volatility arbitrage using `XBT24H` is much more interesting
[2016-01-12 11:50:53] habibi : close ur longs people if u dont wanna pay fees
[2016-01-12 11:50:57] habibi : settlement ones:)
[2016-01-12 11:52:37] justinlooking : u mean sell into 446.25? it would be more expensive than letting settle at 445.98
[2016-01-12 11:53:00] justinlooking : oh wait...
[2016-01-12 11:53:02] j8 : not if you're closing long
[2016-01-12 11:55:45] laisee : tight close
[2016-01-12 11:55:53] j8 : taking anything more than 11 cents over indicated is saving you money
[2016-01-12 11:57:23] laisee : 1 cent diff ... are people listening?
[2016-01-12 11:57:28] habibi : 0.075%*426.25=0.33
[2016-01-12 11:57:58] habibi : so yea 0.11 is right
[2016-01-12 11:59:20] habibi : close ur longs if u want to be clever
[2016-01-12 12:44:56] j8 : open interest 8116, where is everybody?
[2016-01-12 13:26:59] habibi : 2 wash trades and we have already 60k
[2016-01-12 13:30:53] j8 : wash trades, why do you say that?
[2016-01-12 13:36:57] habibi : i mean not wash, but it looks like :p
[2016-01-12 13:37:12] irbbqu : Looks like full retard to me
[2016-01-12 13:37:16] habibi : yep
[2016-01-12 13:37:27] habibi : specially as china is pumping :D
[2016-01-12 13:37:47] irbbqu : ^^
[2016-01-12 13:38:26] habibi : but got filled at 455
[2016-01-12 13:38:31] habibi : so lets see if that was a good hit :)
[2016-01-12 13:42:18] habibi : this is total retarted what is happening here since 2-3 days
[2016-01-12 13:42:38] tscha : lol @ 24h
[2016-01-12 13:42:40] habibi : yep
[2016-01-12 13:42:45] habibi : i got filled at 442.5
[2016-01-12 13:45:13] habibi : BitMEX_Arthur: u see that?
[2016-01-12 13:45:20] MrJ1m : WTF?
[2016-01-12 13:49:12] sleger : you all should be thankful instead of hateful
[2016-01-12 13:49:34] arbitrage001 : yea
[2016-01-12 13:49:46] arbitrage001 : wish someone filled my 100
[2016-01-12 13:50:19] sleger : thats not even half a bitcoin, even if you make 2$ on the price you are not even making 1$ of pnl ...
[2016-01-12 13:50:34] habibi : sleger: what u think about that dumping?
[2016-01-12 13:50:45] sleger : nothing, I bought some
[2016-01-12 13:50:56] sleger : @ 444
[2016-01-12 13:51:00] habibi : bot got crazy or fat finger?
[2016-01-12 13:51:08] habibi : 442.5 and 450
[2016-01-12 13:51:33] tscha : fatfingering 2 minutes straight?
[2016-01-12 13:51:46] sleger : wait for it...
[2016-01-12 13:51:56] sleger : boom
[2016-01-12 13:52:13] habibi : lets make him panic then
[2016-01-12 13:52:39] sleger : i bought 17k since we're still below mark
[2016-01-12 13:52:55] habibi : 15k here
[2016-01-12 13:53:07] habibi : so still rest people here bought another 170
[2016-01-12 13:53:15] arbitrage001 : 1 dollar difference on 1k contract is how much profit?
[2016-01-12 13:53:21] j8 : bought lots here but i had to sell my 7D
[2016-01-12 13:53:44] habibi : 4.46 dollar netto, all depends if u taker both/maker
[2016-01-12 13:54:43] tscha : wow, haven't realized we have 212k open interest 2 hours in
[2016-01-12 13:55:09] j8 : yeah that happened fast.
[2016-01-12 13:55:09] habibi : yep, i would suggest that someone is opening counter positions on 2 account but its useless and stupid
[2016-01-12 13:55:38] j8 : not the kind of thing you do when `.BVOL24H` is at 1.08, lol
[2016-01-12 13:56:25] sleger : and why would you think that ?
[2016-01-12 13:57:11] habibi : sleger: just coz of how fast new orders are showing after that dumping lets assume its just fast fingers
[2016-01-12 13:57:56] sleger : people jump because there is a discount
[2016-01-12 13:57:58] tscha : opening counter positions on another account sounds plausible. maybe rapidtrades hedging himself.
[2016-01-12 13:58:05] sleger : lol
[2016-01-12 13:58:31] habibi : yea maybe, but still its not him. 1-100 contracts is not even close to 100k+
[2016-01-12 13:58:41] tscha : that was /s btw
[2016-01-12 13:58:52] zanza : rofl
[2016-01-12 13:58:54] habibi : /s/s
[2016-01-12 13:59:00] zanza : `/s`
[2016-01-12 13:59:30] habibi : so anyone panicked and opened short at bottom after that fat finger dumped like a tard?
[2016-01-12 13:59:53] sleger : no everyone rushed to buy below mark price
[2016-01-12 14:01:05] zanza : u was sleeping missed it all
[2016-01-12 14:01:08] zanza : i
[2016-01-12 14:01:58] sleger : again
[2016-01-12 14:03:00] habibi : fill my bid at 439 if u are that good mr fat dumper
[2016-01-12 14:03:48] MrJ1m : and i was thinking i bought cheap lol
[2016-01-12 14:04:26] tscha : the thing is that 200k open interest are about 800k coins, but it only takes 200k to move the price to 444.60 on finex
[2016-01-12 14:04:42] tscha : now a bit more
[2016-01-12 14:04:45] habibi : 800k coins?
[2016-01-12 14:04:50] tscha : 800*
[2016-01-12 14:04:59] tscha : forget the k
[2016-01-12 14:05:17] HowDoge : someone openign a nice hedge
[2016-01-12 14:08:43] habibi : short on quanto as a hedge?
[2016-01-12 14:09:16] sleger : and at a discount
[2016-01-12 14:09:28] habibi : and at dailys?
[2016-01-12 14:17:43] SnackyCoins : lol nobody reacting this time
[2016-01-12 14:18:04] habibi : strong hands
[2016-01-12 14:18:14] habibi : and that guy probally dont want to put more
[2016-01-12 14:19:59] zanza : @SnackyCoins oil may be going to 10's
[2016-01-12 14:20:44] SnackyCoins : 171 turnover on xbu, which 20x to adjust for the difference in leverage is 3420, about 1/3 of 24h, the most popular contract. not too shabby?
[2016-01-12 14:20:50] SnackyCoins : zanza: lol no
[2016-01-12 14:21:54] SnackyCoins : we wont go to 20
[2016-01-12 14:22:14] SnackyCoins : because that's CNBC/Reuters/Bloomberg's collective target
[2016-01-12 14:22:21] SnackyCoins : is $20
[2016-01-12 14:22:37] SnackyCoins : that makes the chances of that about 0%
[2016-01-12 14:22:45] laisee : even ISIL will be buying at 20
[2016-01-12 14:22:57] SnackyCoins : fuck we could have bottomed already
[2016-01-12 14:22:58] sleger : I'd start go long around 25
[2016-01-12 14:23:10] sleger : I assume you talk about oil and not litecoin
[2016-01-12 14:23:11] SnackyCoins : someone blew themselves up in turkey today
[2016-01-12 14:23:34] SnackyCoins : market responded as the news broke, i was watching
[2016-01-12 14:23:38] SnackyCoins : we havent gone down since
[2016-01-12 14:24:31] SnackyCoins : could be a local top here on it tho, either way i am only buying down here
[2016-01-12 14:24:51] SnackyCoins : UWTI at $2.31
[2016-01-12 14:25:04] SnackyCoins : trade of the century
[2016-01-12 14:25:48] laisee : swap CNY for USD for Oil
[2016-01-12 14:40:58] rapidtrades : what's going on fellas
[2016-01-12 14:42:12] rapidtrades : hey how do I get trade alerts to show up while I'm not on bitmex tab
[2016-01-12 14:42:35] rapidtrades : I'm ''coding my bot''
[2016-01-12 14:43:35] REKT : Liquidated long on `XBT7D`: Sell 220 @ 446.54
[2016-01-12 14:43:48] habibi : rapidtrades: we noticed alpha version. works pretty good
[2016-01-12 14:46:41] rapidtrades : tnx
[2016-01-12 15:02:17] j8 : rapidtrades: the tab needs to be open to send the notification.. otherwise you would include some notification library in your bot and send custom notifications
[2016-01-12 15:20:41] BitMEX_Sam : OS-level notifications will still be received so long as the tab is open
[2016-01-12 15:33:45] tscha : BitMEX_Sam: Hey! Fair rate basis for long term XBTs is set manually. Could you tell us how this is done in practice? At what intervals, depending on which parameters etc.? thx
[2016-01-12 15:34:12] BitMEX_Sam : tscha: Let me reach out to Arthur for that, I don't do the adjustments.
[2016-01-12 15:51:23] habibi : seems like whale dumper started closing contracts?
[2016-01-12 15:53:12] sleger : no thats me buying
[2016-01-12 15:53:19] habibi : ah k
[2016-01-12 16:17:01] thehawthorne : https://www.reddit.com/r/Bitcoin/comments/40la7o/rbs_tells_investors_sell_everything_the_royal/
[2016-01-12 16:32:31] laisee : RBS ... that well-known globally important & successful investment bank ;-)
[2016-01-12 16:50:04] thehawthorne : http://www.bloomberg.com/news/articles/2016-01-11/bank-of-america-rail-traffic-is-saying-something-worrying-about-the-u-s-economy
[2016-01-12 16:55:20] habibi : sleger: its ur bit @450?
[2016-01-12 16:55:22] habibi : 445*
[2016-01-12 16:55:27] habibi : bid.
[2016-01-12 17:05:30] sleger : no
[2016-01-12 17:30:10] aethlios : discount daily contract, rare thing
[2016-01-12 17:32:44] zanza : damn oil $29 ?
[2016-01-12 17:37:51] Swedishnut : yeah looks like it
[2016-01-12 17:58:59] justinlooking : ping ?
[2016-01-12 18:01:21] tscha : pong
[2016-01-12 18:10:07] messiaen8844 : ping - t
[2016-01-12 18:14:27] justinlooking : ping ?
[2016-01-12 18:14:47] justinlooking : um... nvm, shitty hotel wifi i htink#
[2016-01-12 18:15:16] sleger : why do you stay in shitty hotels ?
[2016-01-12 18:29:05] tscha : he said "shitty hotel wifi" not "shitty hotel"
[2016-01-12 18:29:27] justinlooking : ^^
[2016-01-12 18:29:33] justinlooking : i think it's not hte wifi
[2016-01-12 18:29:57] justinlooking : it's more likely the island's connectivity... got mtr running will keep an eye
[2016-01-12 18:44:02] sleger : tscha: maybe it would have been my time to add the obvious "/s" ?
[2016-01-12 18:45:23] tscha : sleger: not sure if you understand the term sarcasm
[2016-01-12 18:57:23] laisee : tscha: > I'm adding /JOKE to all funny lines directed at sister sledge.
[2016-01-12 19:37:00] sleger : laisee: ahah you're as funny as you're a good trader
[2016-01-12 20:42:13] tscha : justinlooking: how long are you staying?
[2016-01-12 20:54:34] messiaen8844 : Bug: recent trades don't update when you switch between contracts
[2016-01-12 20:56:05] sleger : messiaen8844: it happens once in a while only, if you refresh it will go away
[2016-01-12 20:59:15] BitMEX_Sam : messiaen8844: If you have any errors in your console when that happens, please send a report to support@bitmex.com
[2016-01-12 20:59:32] BitMEX_Sam : I've seen that crop up now and then and I'm trying to see if it's a specific browser issue, or a logic issue
[2016-01-12 21:01:36] sleger : fyi, i had this on chrome
[2016-01-12 21:05:41] messiaen8844 : Using chrome on android. It happens often, but i will check against other browsers and send a report
[2016-01-12 22:05:51] justinlooking : tscha: leaving this weekend
[2016-01-12 22:09:01] tscha : justinlooking: nice, so some more days there
[2016-01-12 22:09:34] tscha : still hammered 24/7? :D
[2016-01-12 22:10:12] justinlooking : haha nah, been taking it easy today and yesterday, just a couple of drinks :)
[2016-01-12 22:11:17] justinlooking : my self control has been pitiful lately
[2016-01-12 22:12:38] tscha : what happens on an island stays on the island
[2016-01-12 22:12:40] sleger : so you guys are a bunch of drunks ?
[2016-01-12 22:12:48] sleger : trading and losing money ?
[2016-01-12 22:13:03] sleger : oh yes I almost forgot : /JOKE
[2016-01-12 22:13:18] habibi : who said he is trading?
[2016-01-12 22:13:33] sleger : what else would he be doing on a trading website
[2016-01-12 22:14:12] habibi : trollbox, communication and u know...listening to allmighty sleger :)
[2016-01-12 22:14:15] habibi : /s/s
[2016-01-12 22:14:21] tscha : yeah, funny joke :D guess humor is not your first language @sleger
[2016-01-12 22:15:33] sleger : I was trying to lower the level to be understood by you :(
[2016-01-12 22:17:30] tscha : sleger: what's your first language?
[2016-01-12 22:17:34] justinlooking : i cleared nearly all my trading accounts down in Nov as I knew i'd be busy for a while to come...
[2016-01-12 22:17:47] habibi : try more sleger :) u almost make a smile on our faces ! :)
[2016-01-12 22:19:29] justinlooking : once goxxen twice shy :/
[2016-01-12 22:48:14] tscha : this sideways movement is so annoying
[2016-01-12 22:53:17] thehawthorne : will up soon
[2016-01-12 23:19:17] rapidtrades : or down :)
[2016-01-12 23:39:27] tscha : so one up and one inverse down = 2 up indicators
[2016-01-12 23:48:06] REKT : Liquidated long on `XBT7D`: Sell 29 @ 445.31
[2016-01-12 23:48:06] REKT : Liquidated long on `XBT24H`: Sell 1000 @ 443.11
[2016-01-12 23:48:06] REKT : Liquidated long on `XBT24H`: Sell 1 @ 442.55 :punch: :whale:
[2016-01-12 23:50:56] REKT : Liquidated long on `XBT24H`: Sell 15437 @ 440.58 **MEGA-REKT** :boom:
[2016-01-12 23:51:06] REKT : Liquidated long on `XBT24H`: Sell 2000 @ 438.51
[2016-01-12 23:51:06] REKT : :roller_coaster: :chart_with_downwards_trend: :japanese_goblin:
[2016-01-12 23:51:06] REKT : Liquidated long on `XBT7D`: Sell 99 @ 443.08
[2016-01-12 23:51:36] REKT : Liquidated long on `XBT7D`: Sell 2 @ 440.55 :punch: :whale:
[2016-01-12 23:52:24] BitMEX_Sam : Big drop.
[2016-01-12 23:52:33] habibi : seriously:D?
[2016-01-12 23:54:07] justinlooking : hmm
[2016-01-12 23:55:06] REKT : Liquidated long on `XBT24H`: Sell 1301 @ 433.97
[2016-01-12 23:55:16] REKT : Liquidated long on `XBT7D`: Sell 999 @ 437.04
[2016-01-12 23:55:22] zanza : WOOOSH
[2016-01-12 23:56:06] REKT : Liquidated long on `XBT7D`: Sell 7666 @ 436.48
[2016-01-12 23:57:11] habibi : pro tip short june
[2016-01-13 00:06:51] zanza : so much slippage @habibi
[2016-01-13 00:08:05] habibi : so thats explains that bear whale with 600-700 btc shorted here on dailys
[2016-01-13 00:10:47] habibi : sleger: big loss?
[2016-01-13 00:12:28] rapidtrades : tscha: you said smth? :D
[2016-01-13 00:14:17] justinlooking : u tricked us rapid u crafty bugger
[2016-01-13 00:26:07] REKT : Liquidated short on `XBT24H`: Buy 50 @ 434.60
[2016-01-13 00:26:07] REKT : Liquidated short on `XBT24H`: Buy 676 @ 434.61
[2016-01-13 00:29:31] rapidtrades : lol premium
[2016-01-13 00:30:05] stevelim : looks like whoever massively shorted last night is covering now.
[2016-01-13 00:30:11] stevelim : good profit
[2016-01-13 00:31:11] zanza : rumors of hard fork are tanking price
[2016-01-13 00:31:26] habibi : bullshit
[2016-01-13 00:31:42] rapidtrades : how can u have a had fork without consensus
[2016-01-13 00:31:50] rapidtrades : it can't just ''happen''
[2016-01-13 00:32:53] stevelim : https://news.bitcoin.com/block-size-consensus-reached-bitcoin-classic-is-unveiled/
[2016-01-13 00:33:52] SnackyCoins : wow what a shill peice
[2016-01-13 00:34:11] SnackyCoins : boldfaced lies right in the first paragraph
[2016-01-13 00:34:22] SnackyCoins : he says developers like it's bitcoin developers
[2016-01-13 00:34:29] SnackyCoins : but it's just fucking gavin and hearn again
[2016-01-13 00:34:47] rapidtrades : is index 90% coinbase now?
[2016-01-13 00:34:56] rapidtrades : cos wepre nowhere near these prices
[2016-01-13 00:43:59] micmix : BitMEX_Sam: BitMEX is hosted in eu-west-1 AWS region, right? what availability zone?
[2016-01-13 00:46:09] tscha : <3 drop
[2016-01-13 00:47:59] tscha : micmix: 1a I think, at least that's where I got the lowest ping
[2016-01-13 00:48:15] micmix : tscha: thanks! yes, very nice drop, I have XBTM16 short with $648 entry price
[2016-01-13 00:49:05] tscha : i'm 30k short short-term :)
[2016-01-13 00:49:27] REKT : Liquidated long on `XBT24H`: Sell 2 @ 432.22 :punch: :whale:
[2016-01-13 00:50:03] tscha : wow
[2016-01-13 00:50:06] tscha : nice
[2016-01-13 00:50:23] joequant : Anyone who is in the HK markets. Go massively long.
[2016-01-13 00:50:37] joequant : People are cashing out of bitcoin to buy stock.
[2016-01-13 00:51:37] REKT : Liquidated long on `XBT24H`: Sell 47 @ 430.16
[2016-01-13 00:52:53] tscha : it just goes on and on and on...
[2016-01-13 00:52:57] REKT : Liquidated long on `XBT24H`: Sell 4 @ 428.09 :punch: :whale:
[2016-01-13 00:53:07] REKT : Liquidated long on `XBT24H`: Sell 3999 @ 427.23
[2016-01-13 00:53:07] REKT : Liquidated long on `XBT24H`: Sell 5000 @ 427.84
[2016-01-13 00:53:08] REKT : Next stop - goblin town!
[2016-01-13 00:54:27] REKT : Liquidated long on `XBT7D`: Sell 243 @ 429.35
[2016-01-13 00:54:27] REKT : Liquidated long on `XBT7D`: Sell 5000 @ 429.55
[2016-01-13 00:55:47] REKT : Liquidated long on `XBT7D`: Sell 2500 @ 427.59
[2016-01-13 00:56:42] tscha : this is not over
[2016-01-13 00:57:07] REKT : Liquidated short on `XBT24H`: Buy 126 @ 424.93
[2016-01-13 01:01:29] rapidtrades : heads up b1tches, fixing in 14 mins
[2016-01-13 01:01:48] habibi : who cares now :)
[2016-01-13 01:02:11] rapidtrades : well u'alls were counting on China for the rally so...
[2016-01-13 01:04:37] joequant : china < btc-e
[2016-01-13 01:05:06] rapidtrades : btc-e higher then everyone actually
[2016-01-13 01:06:08] joequant : one strategy is to go long btc-e, short china/bitfinex and wait for things to back to normal
[2016-01-13 01:06:47] rapidtrades : thank u capt Obvious
[2016-01-13 01:06:56] rapidtrades : too bad I'm already short on btc-e
[2016-01-13 01:08:23] habibi : micmix: how did u called it? middle of uptrend :p?
[2016-01-13 01:08:43] joequant : how do you short btc-e?
[2016-01-13 01:08:49] habibi : mt4 trader
[2016-01-13 01:09:41] micmix : habibi: yep, it still is. I'm talking year-long trends, not daily volatility
[2016-01-13 01:10:25] micmix : I'm building long position now for the future
[2016-01-13 01:10:29] habibi : micmix: how about that http://i.imgur.com/23mbPMp.png?
[2016-01-13 01:11:21] micmix : 1 hour chart is just noise for long-term trading
[2016-01-13 01:11:38] tscha : micmix: +1
[2016-01-13 01:15:45] micmix : everyone trades differently, I'm not a day trader. I'm sure habibi makes good money on short-term trends, I prefer long-term trades
[2016-01-13 01:18:07] rapidtrades : Yuan rate little changed
[2016-01-13 01:18:20] rapidtrades : NO BAILOUT FOR U
[2016-01-13 01:18:28] micmix : but thank you everyone for filling my bids on XBTH16 and XBTM16 :-)
[2016-01-13 01:19:58] rapidtrades : even if ur bullish that's one fell of a premium to pay
[2016-01-13 01:21:41] micmix : I'm closing XBTM16 short slowly and building XBTH16 long, I'll be OK :-)
[2016-01-13 01:22:05] rapidtrades : if there was no clawback risk I would short those contracts to the bank
[2016-01-13 01:22:58] habibi : if there was no clawback u would see no leverage
[2016-01-13 01:23:08] micmix : rapidtrades: I never saw DPE on long-term contracts, I don't think it's very likely
[2016-01-13 01:23:33] zanza : obligatory XBU is guaranteed post
[2016-01-13 01:24:09] rapidtrades : well we've seen regular clawback even on OKC 20x so it's very possible
[2016-01-13 01:24:34] rapidtrades : plus when u get clawback here, its 30%+
[2016-01-13 01:24:58] tscha : bitmex system > okc system
[2016-01-13 01:25:02] rapidtrades : back in August the monthly settled with 60%+ clawback
[2016-01-13 01:26:08] chromaticcr : bitfinex giveaway
[2016-01-13 01:26:18] rapidtrades : ?
[2016-01-13 01:26:26] micmix : I'm not saying it's impossible but I think it's unlikely. The leverage on quarterly is 4 times lower than on daily, and there is much more time to get rid of the liq orders.
[2016-01-13 01:26:31] chromaticcr : "look ma, so cheap"
[2016-01-13 01:27:10] rapidtrades : micmix: if ur long, its prolly not a major problem cos we tend to crash to the downside
[2016-01-13 01:28:33] rapidtrades : on second thought, I think the August clawback happened when we spiked down then rallied to month end
[2016-01-13 01:28:52] tscha : >The leverage on quarterly is 4 times lower than on daily . it's not, it's the same leverage actually.
[2016-01-13 01:29:00] rapidtrades : so longs would've been r*ped as well
[2016-01-13 01:29:03] tscha : oops quote fail
[2016-01-13 01:30:21] rapidtrades : CNY/CNH gap now only 0.01
[2016-01-13 01:30:23] j8 : the danger with the quarterly / biquarterly is that the basis adjustments are manual, so the market can get way ahead of the mark price... then DPE can definitely happen
[2016-01-13 01:31:02] micmix : tscha: initial margin requirement is 4 times higher, which has the same effect as 4x lower leverage for preventing over-leverage when opening positions
[2016-01-13 01:31:06] tscha : j8: they say it's manual, but actually it is changing every 30 seconds.. look at M16, actually ahead of market
[2016-01-13 01:31:51] micmix : tscha: fair basis rate is adjusted manually, mark price is updated every 30 seconds. it's spot price + fair basis
[2016-01-13 01:32:08] tscha : micmix: true @ fair basis.. my bad
[2016-01-13 01:32:12] j8 : tscha: they've been stuck at 87% and 89% annualized for several days
[2016-01-13 01:32:49] rapidtrades : seems way to high but what do I know....I haven't worked in an investment bank :)
[2016-01-13 01:33:10] j8 : now there are bids above that so maybe it will get adjusted up
[2016-01-13 01:38:29] tscha : micmix: Not sure if I can follow your logic. We talk about DPE, so maintenance margin is the important thing, not initial margin. Yes it takes more time to actually reach liquidation when initial margin is high, but when it is approached/reached and the market sweeps, the result is 100x damage not 25x. So I am not sure if I understand your quote "there is much more time to get rid of the liq orders."
[2016-01-13 01:39:08] REKT : Liquidated short on `XBT24H`: Buy 1463 @ 430.05
[2016-01-13 01:40:51] micmix : tscha: when BitMEX takes over a liq order on 24H, they have only several hours to get rid of it without losing money. on quarterly they have weeks/months and it's much more likely that the market will swing back during that time
[2016-01-13 01:41:44] rapidtrades : micmix: but when DPE happens if the market never comes back, it will be brutal...hence 60% back in August on monthly
[2016-01-13 01:41:51] tscha : Oh yeah, that makes sense.
[2016-01-13 01:41:57] micmix : BitMEX actually makes profit from liq orders on quarterly as far as I can see
[2016-01-13 01:41:59] rapidtrades : clawbacks may be rarer but they can be mroe brutal
[2016-01-13 01:42:57] rapidtrades : duration is a double-edged sword...it can limit DPE or expand it
[2016-01-13 01:43:42] micmix : rapidtrades: yes, if the market moves quickly before the settlement and never recovers
[2016-01-13 01:44:18] rapidtrades : also since these contracts are settled on a weekly basis, u don't have that much time to recover anyway...
[2016-01-13 01:46:13] micmix : you are right, I forgot about that
[2016-01-13 01:46:55] micmix : no per-contract insurance fund, they do it week to week
[2016-01-13 01:46:56] tscha : +1 Sherlock Rapid, gj
[2016-01-13 01:47:44] rapidtrades : I think the monthly used to be 50/1 back in August...so not exactly apples to apples comparison with 3m/6m
[2016-01-13 01:48:39] micmix : if they make profit from liq orders some weeks, they should use that profit to offset loses in following weeks. I'm not sure if they do that
[2016-01-13 01:49:31] micmix : XBTQ15 settlement on 2015-08-28: 57.79% DPE
[2016-01-13 01:49:55] rapidtrades : yeah that's the one
[2016-01-13 01:50:26] micmix : XBTQ15 rebalance on 2015-08-21: 30.79% DPE
[2016-01-13 01:50:38] rapidtrades : well shit....another one
[2016-01-13 01:51:27] rapidtrades : is that the monthly?
[2016-01-13 01:51:46] tscha : +1 for per-contract insurance fund
[2016-01-13 01:52:51] micmix : or automatic deleveraging if they are ready for it
[2016-01-13 01:53:21] micmix : I think XBTQ15 was the monthly but I might be wrong
[2016-01-13 01:53:27] habibi : there is insurance fund. everythink rest from liquidations goes there
[2016-01-13 01:53:57] rapidtrades : how would that work? would traders that use 20/1 leverage get closed before 10/1 or....or is it bigger traders first
[2016-01-13 01:54:10] habibi : i mean here on bitmex :p
[2016-01-13 01:54:24] rapidtrades : auto-deleveraging
[2016-01-13 01:55:08] micmix : if you have an opposite position, your position is reduced, not closed
[2016-01-13 01:55:11] tscha : rapidtrades: when you are long and the market moves down and liquidates you, the system de-leverages the guy that is short with your contracts
[2016-01-13 01:55:40] tscha : uhm, not liquidates, reduced
[2016-01-13 01:55:51] rapidtrades : I don;t understand...u mean the guy that hit my bids or
[2016-01-13 01:56:35] rapidtrades : like if I go long now at 431 and hit some bot at the ask....if I get margined, that bot will have his short closed?
[2016-01-13 01:57:39] micmix : it depends on the implementation
[2016-01-13 01:58:17] micmix : the system might reduce everyone's short position proportionally
[2016-01-13 01:58:43] rapidtrades : isn't the best solution to reduce the most leveraged traders? cos they'll be the ones most likely to trigger additional LIQs?
[2016-01-13 01:58:49] rapidtrades : none of this makes sense
[2016-01-13 01:59:04] rapidtrades : I faking hate clawbacks
[2016-01-13 02:02:22] tscha : I am ok with the system, I'd rather have the admins working on other stuff
[2016-01-13 02:03:58] tscha : If you think about it precisely, then yes, automatic deleveraging is fairer. But it's not bad the way it is. Clawbacks don't occur very often either.
[2016-01-13 02:05:41] rapidtrades : ....u run bots and the fees are not subject to clawbacks, not sure ur opinion matters much here
[2016-01-13 02:06:11] tscha : rapidtrades: I got hit hard the last clawbacks
[2016-01-13 02:06:51] rapidtrades : so it's a problem
[2016-01-13 02:07:56] tscha : I am fine the way it is. Wouldn't complain if they change it to automatic de-leveraging, but it's just not a big priority IMHO and a big change in the system.. rather have the admins work on more important stuff
[2016-01-13 02:08:00] rapidtrades : I'd rather get deleveraged then clawed but an even better solution would be to close the most leveraged traders first
[2016-01-13 02:08:08] rapidtrades : wanna gamble? take the risk
[2016-01-13 02:09:13] tscha : >close the most leveraged traders first what do you mean by that? your positions get's closed at liquidation price, not before, not after
[2016-01-13 02:09:19] tscha : goddamn quote
[2016-01-13 02:10:08] rapidtrades : I mean once someone gets margin called the system looks for traders to offset his contracts...so close the contracts of the traders that use the most leverage first
[2016-01-13 02:10:33] rapidtrades : this would lower the risk of subsequent liquidations and margin cascading
[2016-01-13 02:12:26] tscha : "once someone gets margin called the system looks for traders to offset his contracts" No. It starts looking at the moment the trader get's liquidated, not before that.
[2016-01-13 02:12:51] rapidtrades : doesn't change my point
[2016-01-13 02:13:48] tscha : "so close the contracts of the traders that use the most leverage first" Close contracts? What do you mean? Liquidate the position?
[2016-01-13 02:14:21] rapidtrades : yea
[2016-01-13 02:15:03] tscha : You get liquidated at liquidation price. You mean that you should be liquidated before the liquidation price if your leverage is high?
[2016-01-13 02:15:54] tscha : I don't get it.
[2016-01-13 02:16:32] rapidtrades : isn't that the whole point of deleveraging? smone gets margined long so the system looks to offset that position with traders who are already short
[2016-01-13 02:17:11] rapidtrades : idk never traded with that system
[2016-01-13 02:22:29] tscha : If you are long and you get liquidated, then the system tries to get rid of your (now liquidated) position. So it looks for *counterparty orders* to close the position (which the system got from you). When the target price of these orders cannot be met, then (with automatic de-leveraging) it will reduce *counterparty positions* (and thus their leverage) in order to get rid of the position at the target price of the counterparty orders
[2016-01-13 02:23:25] BitMEX_Arthur : https://www.youtube.com/watch?v=-AT2EQlN7TI
[2016-01-13 02:23:30] BitMEX_Arthur : The Webinar will air in 30 minutes
[2016-01-13 02:24:26] tscha : too bad it's 3.30am here :(
[2016-01-13 02:24:50] BitMEX_Arthur : A recording will be up shortly afterwards
[2016-01-13 02:25:08] tscha : cool, will take a look then
[2016-01-13 02:25:33] tscha : have fun at arthur's webinar and cya tomorrow folks
[2016-01-13 03:07:53] BitMEX_Sam : Spreadsheet for Lesson 2: https://docs.google.com/spreadsheets/d/1mHsaDNetxCoZW3bvQkP8NaqeGBebVeFw6jYqbFffJOI/edit?usp=sharing
[2016-01-13 03:09:15] BitMEX_Sam : Slides: https://docs.google.com/presentation/d/1S2sAz-EGsHOqk8LBQYtgo2Ui6iXi3kIioGHwLz4tWkE/edit?usp=sharing
[2016-01-13 03:11:02] micmix : BitMEX_Sam: BitMEX is hosted in eu-west-1 AWS region, right? what availability zone?
[2016-01-13 03:11:27] BitMEX_Sam : micmix: 1c
[2016-01-13 03:11:36] micmix : BitMEX_Sam: thanks!
[2016-01-13 03:15:37] j8 : fair basis rate on `XBTH16` and `XBTM16` is up to 92%
[2016-01-13 03:16:26] micmix : ppl are buying! (or at least adding bids)
[2016-01-13 03:17:04] j8 : yeah, people seem to buy those when the price is down.
[2016-01-13 03:17:16] j8 : and buy the daily when the price is up
[2016-01-13 03:19:42] j8 : the last time the quarterly premiums were this high was well after the dump from 500
[2016-01-13 03:54:37] JDUB99 : buy the dip！
[2016-01-13 03:58:58] habibi : short top of the bounce!
[2016-01-13 04:07:02] micmix : habibi: I have some bids over $500 on XBTH16 if you want to short
[2016-01-13 04:07:23] habibi : no need, already did
[2016-01-13 04:07:29] micmix : cool :-)
[2016-01-13 04:07:37] habibi : :* :p
[2016-01-13 04:38:02] REKT : Liquidated long on `XBT24H`: Sell 3139 @ 429.22
[2016-01-13 04:38:42] REKT : Liquidated long on `XBT24H`: Sell 153 @ 427.92
[2016-01-13 04:40:02] REKT : Liquidated long on `XBT24H`: Sell 800 @ 427.42
[2016-01-13 06:32:45] skycharger : a noobie here needs some help , i just got liquidated (whilst i was asleep, lol ok), i thought i had contracts to buy at a price in March and in June ( because i think the price will be higher then than it is now) , so the spot price dropped a little, and i got liquidated, how come? can i not get a contract to buy at a certain price in March and June that is not affected by the spot price until each of those time periods?
[2016-01-13 06:36:52] habibi : that would be ultra safe zone !:)
[2016-01-13 06:38:24] skycharger : maybe , assuming the spot price does indeed rise bythen,
[2016-01-13 06:53:13] bertmacklin666 : I think you may be confusing how this all works. You are not buying a contract to buy at a certain price in June. You are betting that by June, the price iwlll go up. So if you put in an order, and your order is filled, and then the price drops way below that price. . .you will be liquidated
[2016-01-13 06:58:07] micmix : skycharger: it doesn't work like that. after you buy some contracts you will see your position displayed in the list of open positions with entry price (price you bought at), mark price (current fair price of the contract) and your liquidation price. If mark price goes below liq price you'll get liquidated, and mark price depends on spot price
[2016-01-13 06:59:22] skycharger : ok bert, so i bought June at 630 the spot moved down a bit, and i got liquidated at 605
[2016-01-13 07:02:10] skycharger : Yes, i was betting that by June the price would go up ( to more than 630) , i didnt care what it did in the meantime ( or thats what thought i was doing, lol)
[2016-01-13 07:04:58] micmix : skycharger: by default position is open with isolated margin and will be liquidated if price goes down by 4%. you can add margin to your position to give you more room and keep it open
[2016-01-13 07:05:25] micmix : read this: https://www.bitmex.com/app/isolatedMargin
[2016-01-13 07:07:08] Yepachuchu : setting and forgetting a high-leverage order will often lead to getting REKT
[2016-01-13 07:16:00] skycharger : so i can add margin to protect me against small spot price drops, , can i also remove margin as the price rises again?
[2016-01-13 07:16:25] micmix : skycharger: yes, you can
[2016-01-13 07:17:13] skycharger : so in effect i could protect by June price, kind of?
[2016-01-13 07:17:29] skycharger : my June price*
[2016-01-13 07:17:44] micmix : skycharger: kind of, if you are not afraid of losing more money if it never goes back up
[2016-01-13 07:18:38] skycharger : ok, take your point
[2016-01-13 07:22:37] skycharger : i guess i have much to learn, trading wise ( im a computer guy not a finance one)
[2016-01-13 07:24:29] micmix : same here but it's not that difficult. read BitMEX blog starting with https://blog.bitmex.com/bitcoin-futures-basis-trading-lesson-1/
[2016-01-13 07:33:11] skycharger : ok,
[2016-01-13 07:34:19] skycharger : now i have to figure out the diferences between the limit and the stop limit orders, when you might use either/or
[2016-01-13 07:39:11] Yepachuchu : i've found stops to not always work here due to slippage
[2016-01-13 07:39:18] Yepachuchu : but that may just be my experience
[2016-01-13 07:39:19] BitMEX_Arthur : https://www.bitmex.com/app/stopLimitOrder
[2016-01-13 07:50:15] bertmacklin666 : Skycharger, yes, unfortunately you DO have to care what the price does "in the meantime." Even if you add margin to protect your position, if the price drops enough, you could get liquidated, including whatever you added to "protect." I would suggest using a fairly low margin multiplier for any trading here on Bitmex. Greater than 20x or so, you are really exposed to the normal fluctuations that happen.
[2016-01-13 07:50:33] Yepachuchu : ^
[2016-01-13 07:50:41] Yepachuchu : lower the stack, less chance of getting REKT
[2016-01-13 07:50:48] bertmacklin666 : yup
[2016-01-13 07:50:54] Yepachuchu : understanding isolated vs not helps too
[2016-01-13 07:51:03] bertmacklin666 : I'm at 10x right now and that's about the most I'm comfortable with
[2016-01-13 07:51:55] Yepachuchu : as someone said the other night to me, with leverage, be happy with making $1 over losing $500
[2016-01-13 07:52:34] bertmacklin666 : The "isolated" tool is really great- I've used it to make risky bets while separating those bets from my longer term, lower risk bets
[2016-01-13 07:52:55] Yepachuchu : agreed on it being a great tool
[2016-01-13 07:53:21] bertmacklin666 : i generally add a hair to it; full blown 100x margin or 50x margin is kind of insane
[2016-01-13 07:53:46] Yepachuchu : entirely different strategy in play for high margin imo
[2016-01-13 07:54:08] bertmacklin666 : Agreed. . .which is why isolating that portion is great
[2016-01-13 07:55:15] bertmacklin666 : I'm not isolating anyything atm. . I like XBT as a long term bet. . .but in the near term, I have no idea where this bitch is going
[2016-01-13 07:57:33] Yepachuchu : long long term, who can really see the future
[2016-01-13 07:57:46] micmix : with great power comes great responsibility - it was a quote about high leverage
[2016-01-13 07:57:53] Yepachuchu : shortish term, i see plenty more capital flight and economic shenanigans to feed btc
[2016-01-13 07:58:11] Yepachuchu : and growing public awareness, which is always a new bagholder if nothing else
[2016-01-13 07:58:59] Yepachuchu : if i was 100% certain BTC would be 'IT' 10 years from now, i'd be dumping every spare cent and hodl'ing to victory
[2016-01-13 07:59:08] Yepachuchu : but i can't quite commit on that level
[2016-01-13 07:59:42] Yepachuchu : maybe in a year when i regret not going balls deep sub-500 and world economies are still suffering heh
[2016-01-13 08:00:49] bertmacklin666 : Well, defining "long term" and "short term" is key here.
[2016-01-13 08:01:04] bertmacklin666 : To me , 3 months to 1 year is longish term
[2016-01-13 08:01:17] Yepachuchu : that's fair
[2016-01-13 08:01:29] bertmacklin666 : but yeah, the timeframe does matter
[2016-01-13 08:01:39] bertmacklin666 : here on bitmex, 6 months is the longest ther is so. .
[2016-01-13 08:01:39] Yepachuchu : it's gonna be a crazy year i think
[2016-01-13 08:01:47] bertmacklin666 : i agree
[2016-01-13 08:01:57] Yepachuchu : on all fronts, money, politics, etc
[2016-01-13 08:02:11] bertmacklin666 : Yup. China, Oil, etc etc
[2016-01-13 08:02:25] bertmacklin666 : US presidential campaign
[2016-01-13 08:02:41] bertmacklin666 : Have you looked at Augur at all?
[2016-01-13 08:02:51] Yepachuchu : nope
[2016-01-13 08:02:53] Yepachuchu : what is it
[2016-01-13 08:03:13] bertmacklin666 : It's a prediction market that will run on the blockchain
[2016-01-13 08:03:20] bertmacklin666 : are you familiar with Intrade at all?
[2016-01-13 08:03:30] Yepachuchu : no, but happy to learn
[2016-01-13 08:04:02] bertmacklin666 : It was a website that did predictiom markets. . .basically betting, but not simply gambling
[2016-01-13 08:04:28] bertmacklin666 : people basically put their money where their mouth is on politics and all kinds of subjects
[2016-01-13 08:04:37] Yepachuchu : ah, i've seen a couple sites like that a bit ago
[2016-01-13 08:04:54] bertmacklin666 : Turns out that when people answer polls, they vote with their hearts/political affiliations etc
[2016-01-13 08:05:05] bertmacklin666 : when they bet with their money. . they tend to be more accurate
[2016-01-13 08:05:13] Yepachuchu : was thinking recently on scoping out the matchups on a couple, could always bait some shillary/burnout supporters
[2016-01-13 08:05:20] Yepachuchu : yes, talk is cheap, money is not
[2016-01-13 08:05:47] bertmacklin666 : so prediction markets capture the "wisdom of the crowd"- the information given based on people's monetary bets are more accurate than simple talk
[2016-01-13 08:05:58] bertmacklin666 : Augur is a prediction market hat will be decentralized
[2016-01-13 08:06:05] Yepachuchu : ooh
[2016-01-13 08:06:07] bertmacklin666 : its not out yet, but will be later this year
[2016-01-13 08:06:12] Yepachuchu : i like that concept
[2016-01-13 08:06:14] bertmacklin666 : Im super excited about it
[2016-01-13 08:06:25] Yepachuchu : takes a lot of the 'house' or 'bookie' trust element out of it
[2016-01-13 08:07:21] bertmacklin666 : exactly. . part of the appeal is who is determining the outcomes on things. . .in Augur thousands of users will "report" on events, and be rewarded if they are correct, and penalized if they are not
[2016-01-13 08:07:46] bertmacklin666 : Rather than trust some single individual
[2016-01-13 08:07:59] Yepachuchu : trustworthy statistics, as someone would need to dump a lot of money to manipulate once there is enough coverage
[2016-01-13 08:08:35] bertmacklin666 : manipulation is one concern. .. but in the past efforts to do so have been thwarted, again by the "wisdom of the crowd."
[2016-01-13 08:08:51] Yepachuchu : yep, make the sample size large enough, the price to manipulate rises
[2016-01-13 08:10:02] bertmacklin666 : Intrade was a site that covered political elections. In 2012, someone started trying to manipulate the system, and literally poured millions into shares predicting that Romney would win the election. Other bettors took them up on the bet, and proved them wrong. The system worked as intended, as was great
[2016-01-13 08:10:38] bertmacklin666 : Intrade got shut down because they started taking bets on the price of gold and other commodities
[2016-01-13 08:11:13] bertmacklin666 : So now it's defunct, but Augur will try to take its place, but its decentralized, so will be difficult if not impossible to shut down
[2016-01-13 08:11:49] Yepachuchu : and being that it is decentralized, would it allow other services to pop up utilizing it?
[2016-01-13 08:12:03] bertmacklin666 : How so?
[2016-01-13 08:12:28] Yepachuchu : well, the issue i see with InTrade there is they could've split into two services and avoided shutdown
[2016-01-13 08:12:43] Yepachuchu : if a protocol is handy to make it easy for a bunch of things along those lines to pop up, much harder to control
[2016-01-13 08:13:15] Yepachuchu : like the hold bitcoin has on online gambling in areas where govt says you can't do that
[2016-01-13 08:13:59] bertmacklin666 : Well, they were a website based in the US, so whatever entity controls commodities trade basically fined them and shut them down. But yeah, being based on blockchain technology makes it very difficult for a government to shut down.
[2016-01-13 08:14:54] bertmacklin666 : Although Augur has actually beenworking with regulators to try to do things on the up and up, despite the fact that they probably could do it despite efforts to stop them
[2016-01-13 08:15:43] Yepachuchu : probably smart on their part
[2016-01-13 08:16:17] bertmacklin666 : Yeah. . .the less confrontational the better.
[2016-01-13 08:16:22] Yepachuchu : leave it up to other people who want to risk such endeavors when they have something that can be a legitimate positive in the field
[2016-01-13 08:17:07] bertmacklin666 : A video that gives a very basic explanation of what they do: https://www.youtube.com/watch?v=yegyih591Jo
[2016-01-13 08:19:26] bertmacklin666 : Full disclosure, I did buy some REP in the presale, so I do have skin in the game for them to succeed. . but I bought because I believe in what they are doing, and I am talking about it here because I still believe and I'm excited about it
[2016-01-13 08:19:50] Yepachuchu : was just about to ask if they have a shitcoin to invest in them heh
[2016-01-13 08:20:10] Yepachuchu : the video sounds exactly as i expected, i think they will do well
[2016-01-13 08:20:34] bertmacklin666 : It's not exactly a coin. . .its basically a % of the trading fees, and if you own REP, you have to report on events
[2016-01-13 08:20:42] skycharger : This is Big for bitcoin, https://www.bitcoinclassic.com/ Developers just announced the first official size increase for the blockchain.
[2016-01-13 08:20:49] bertmacklin666 : You become the oracle
[2016-01-13 08:20:57] skycharger : 2mb up from 1mb
[2016-01-13 08:20:59] bertmacklin666 : whoa, skycharger, Ill check it out
[2016-01-13 08:22:05] skycharger : from Roger Ver ..."In Bigger Blocks Means more Decentralization, Ver passionately made the case for increasing block sizes. He said: “I think it should be clear to everyone that bigger blocks will likely mean more full nodes around the world, and therefore more decentralization, not less. This will make Bitcoin even more difficult to control, censor, or be stopped by anyone, including governments. If you want Bitcoin to become an even bigger Honey Badger of money, we need to increase the block size, not limit it.” There are other arguments for increasing block size as well. One of the strongest involves acknowledging market incentives. For instance, if Bitcoin was scaled upwards, and it could start processing as many transactions as VISA, its value would rise. As a result, more people would adopt the currency and organizations would see the benefit of building more nodes. In either case, Bitcoin Classic will help begin the transition into even larger block sizes. But it is guaranteed t
[2016-01-13 08:23:00] Yepachuchu : there was some panic FOMO in regards to that news, timed well with the dumps earlier
[2016-01-13 08:28:02] skycharger : from Roger Ver ..."In Bigger Blocks Means more Decentralization, Ver passionately made the case for increasing block sizes. He said: “I think it should be clear to everyone that bigger blocks will likely mean more full nodes around the world, and therefore more decentralization, not less. This will make Bitcoin even more difficult to control, censor, or be stopped by anyone, including governments. If you want Bitcoin to become an even bigger Honey Badger of money, we need to increase the block size, not limit it.” There are other arguments for increasing block size as well. One of the strongest involves acknowledging market incentives. For instance, if Bitcoin was scaled upwards, and it could start processing as many transactions as VISA, its value would rise. As a result, more people would adopt the currency and organizations would see the benefit of building more nodes. In either case, Bitcoin Classic will help begin the transition into even larger block sizes. But it is guaranteed t
[2016-01-13 08:28:40] skycharger : sorry, about the double posting
[2016-01-13 08:29:27] skycharger : But from a Computing/Adoption point of view, its all good
[2016-01-13 08:56:37] micmix : the main problem with bitcoin classic and earlier separate versions like XT is that it says to the outside world that bitcoin is very immature and bitcoin developers cannot come to any consensus regarding its future. regardless of technical merits it's _not_ a good thing for bitcoin
[2016-01-13 08:57:20] Yepachuchu : from what i understand, the change is a soft fork is it not? that basically means it's a non-issue pricewise
[2016-01-13 08:57:24] messiaen8844 : micmix: but bitcoin IS immature. Its new technology, its not ready yet