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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[2014-11-24 12:00:21] BitMEX_Sam : Welcome to BitMEX! We are live.
[2014-11-24 12:20:29] BitMEX_Arthur : Hello World
[2014-11-24 12:22:54] laisee : alive
[2014-11-24 12:24:17] BitMEX_Arthur : welcome
[2014-11-24 12:26:21] BitMEX_Sam : Welcome!
[2014-11-24 12:27:04] wudaokor : Hey Arthur, glad to see the site is up!
[2014-11-24 12:27:25] laisee : congrats on the opening
[2014-11-24 12:28:41] BitMEX_Arthur : thanks please deposit and try us out
[2014-11-24 12:28:47] BitMEX_Arthur : any questions feel free to ask
[2014-11-24 12:28:57] joequant : congrats
[2014-11-24 12:29:01] cinek : congrats!!!
[2014-11-24 12:29:12] joequant : I'm in the process of setting up my first trades.
[2014-11-24 12:39:35] jon : congrats
[2014-11-24 12:53:32] larry : i'm in!
[2014-11-24 12:54:02] joequant : waiting for my bitcoin to confirm......
[2014-11-24 12:57:49] paywise : yo....
[2014-11-24 12:57:57] BitMEX_Arthur : that you dave?
[2014-11-24 12:58:06] paywise : u bet your ass
[2014-11-24 12:58:09] BitMEX_Arthur : ha
[2014-11-24 12:58:20] paywise : wouldnt miss it for the world
[2014-11-24 12:59:49] BitMEX_Sam : Hahaha glad to have you
[2014-11-24 12:59:59] BitMEX_Sam : joequant: BTC network has been slow today
[2014-11-24 13:01:07] paywise : great site guys
[2014-11-24 13:01:21] DuGuerre : Congrats guys
[2014-11-24 13:10:37] BitMEX_Sam : FYI you can do some pretty fun charting and sharing via the chart widget; here's a grauitous example from our testnet: https://www.tradingview.com/x/9wfelHXa/
[2014-11-24 13:10:52] BitMEX_Sam : So you can make some big &btc;
[2014-11-24 13:11:48] BitMEX_Arthur : Sam is in love with charts
[2014-11-24 13:11:54] BitMEX_Arthur : get Tone on here to go crazy with TA
[2014-11-24 13:12:12] BitMEX_Sam : Hahaha what can I say. The colors, Duke, the colors
[2014-11-24 13:18:48] laisee : my son can draw better than that, he's 5.
[2014-11-24 13:21:30] joequant : stupid question here. 1000 contracts = 1 XBT right?
[2014-11-24 13:26:32] BitMEX_Arthur : Contracts = XBT Notional / (0.00001 * Price)
[2014-11-24 13:26:39] BitMEX_Arthur : 1 XBT is about 250 contracts
[2014-11-24 13:30:31] BitMEX_Sam : Think of it as 1000 satoshis per 1 USD, so a contract settling at 373 settles at 373*1000 satoshis. Thats what the `multiplier` means in the instrument table.
[2014-11-24 13:30:53] patricksuen : cool site
[2014-11-24 13:31:47] jon : do you have or plan an Excel API?
[2014-11-24 13:31:59] BitMEX_Arthur : absolutely
[2014-11-24 13:32:30] jon : you know bankers love excel ;)
[2014-11-24 13:34:34] BitMEX_Arthur : yep
[2014-11-24 13:35:51] BitMEX_Arthur : people get jobs based on their vba and excel skills
[2014-11-24 13:36:27] jon : lol
[2014-11-24 13:36:57] jon : so you have one already?
[2014-11-24 13:37:11] BitMEX_Arthur : it's on our dev queue
[2014-11-24 13:37:17] jon : cool
[2014-11-24 13:45:09] equalpumps : how much margin can we use here? 10x
[2014-11-24 13:45:33] BitMEX_Sam : You can access the raw API via https://www.bitmex.com/explorer, but CSV output and nitty-gritty RTD stuff will be released later on
[2014-11-24 13:45:44] BitMEX_Sam : equalpumps: 3.3x initial, 5x maintenance
[2014-11-24 13:45:54] equalpumps : thanks
[2014-11-24 13:46:06] equalpumps : any affiliate program?
[2014-11-24 13:46:13] BitMEX_Sam : No, not at this time
[2014-11-24 13:54:04] joequant : holy heck what is happening on bitfinex
[2014-11-24 13:55:03] BitMEX_Arthur : SHORT SQUEEEEZZZEEEE
[2014-11-24 14:16:42] coroner : where do I activate google auth?
[2014-11-24 14:16:59] BitMEX_Sam : Go to Account - > My Account
[2014-11-24 14:17:19] coroner : ah, found it now
[2014-11-24 14:17:51] BitMEX_Sam : We'll be adding more options in the future depending on demand. Would like to do yubikey at the least.
[2014-11-24 14:18:49] Keyser_Soze : so its 0.5% fee both ways for a total of 1% fee
[2014-11-24 14:21:18] BitMEX_Sam : Yes, 50 bps per side.
[2014-11-24 14:21:24] coroner : is there any id verification needed to trade on this platform?
[2014-11-24 14:21:30] BitMEX_Arthur : at the moment no
[2014-11-24 14:21:40] coroner : but you might require it in the future?
[2014-11-24 14:23:14] BitMEX_Sam : Yeah, it's on the roadmap. We will likely implement it as a high position limit, and we'll give plenty of advance notice.
[2014-11-24 14:23:35] coroner : good, last thing I want is getting my funds locked up bitstamp-style
[2014-11-24 14:23:44] BitMEX_Sam : Nah of course not. We'd never block withdrawals
[2014-11-24 14:24:05] BitMEX_Sam : Each of us have dealt with shady exchanges before, it can be awful
[2014-11-24 14:24:05] Keyser_Soze : BitMEX_Sam: ok thanks thats to high i can trade futers other places for a third of that have a nice day
[2014-11-24 14:24:29] BitMEX_Sam : Yes, but no other exchange will stand behind its settlements.
[2014-11-24 14:24:42] BitMEX_Sam : It's a premium product, we understand it's not for everyone.
[2014-11-24 14:25:21] coroner : imo you should trade on all exchanges to diversify risk of theft
[2014-11-24 14:30:11] joequant : Anyone else here going to the BTC conference at the end of the week.
[2014-11-24 14:30:52] joequant : in HK
[2014-11-24 14:30:56] joequant : :-)
[2014-11-24 14:31:25] coroner : not me, I'm on the other side of the planet pretty much
[2014-11-24 14:40:54] coroner : hmm, calendar spreads require double the margin of a single contract?
[2014-11-24 14:42:17] BitMEX_Arthur : at the moment 30% on each leg, that will come down as we put some more sophisticated rules around margin
[2014-11-24 14:42:30] BitMEX_Arthur : but it's very useful if you would like to roll positions
[2014-11-24 14:43:01] coroner : sorry, what is useful?
[2014-11-24 14:43:24] coroner : oh to trade an existing position against a calendar?
[2014-11-24 14:47:02] rhk : your market maker disappeared?
[2014-11-24 14:47:57] rhk : hmm.. all bids/offers disappeared for a minute there
[2014-11-24 14:48:18] BitMEX_Sam : likely just replacing orders and had a hiccup
[2014-11-24 14:48:24] rhk : nothing in jan
[2014-11-24 14:52:09] paywise : joe i'm going on saturday
[2014-11-24 14:52:32] paywise : tbh they bring the wrong people to speak at these confs
[2014-11-24 15:01:28] coroner : are there plans to get the data integrated with bitcoinwisdom or cryptowat.ch?
[2014-11-24 15:04:13] BitMEX_Sam : Yeah I've been working with a few chart providers
[2014-11-24 15:04:39] BitMEX_Sam : We implement the TradingView protocol (UDF) and our REST API is pretty simple, so it will be very simple
[2014-11-24 15:04:41] coroner : nice, it's just more convenient if i can flip through charts with the same look
[2014-11-24 15:05:07] BitMEX_Sam : Yeah of course. You can also get a standalone chart at https://www.bitmex.com/chart?symbol=XBTZ14
[2014-11-24 15:05:40] BitMEX_Sam : Been working on getting bitfinex data integrated into our charts so you can overlay them.
[2014-11-24 15:07:07] BitMEX_Sam : If you have multiple monitors, you can also fullscreen many of our widgets using the button at the top right.
[2014-11-24 15:07:45] BitMEX_Sam : Some, like the orderbook and contract data, expand the data they show when fullscreened.
[2014-11-24 15:09:23] coroner : cool
[2014-11-24 15:21:55] coroner : I think there are some bugs in the order book representation
[2014-11-24 15:22:18] coroner : I placed an ask for 63 contracts @398 and it's somewhere in between the 38x asks now
[2014-11-24 15:22:29] rhk : oooh yeah... some wierd shit in the orderbook
[2014-11-24 15:23:13] rhk : seems ok after you refresh tho
[2014-11-24 15:23:36] coroner : you're right
[2014-11-24 17:01:58] laisee : order book for xbtf15 is behaving a little strange .keeps clearing down and redrawing with just 2 levels. is it my internet connection?
[2014-11-24 17:03:22] BitMEX_Sam : No, that's not you
[2014-11-24 17:03:34] BitMEX_Sam : A bot is placing and replacing those orders quickly.
[2014-11-24 17:03:57] BitMEX_Sam : Likely the user is indexing to the Bitfinex price and replacing orders on every movement.
[2014-11-24 17:05:02] laisee : hmmm ... bfx price is moving around, but these orders seem to be at same levels.
[2014-11-24 17:06:54] laisee : a bot with touch of OCD?
[2014-11-24 17:13:06] BitMEX_Sam : I think it just likes to be very precise
[2014-11-24 17:26:07] sleger : i dont understand the size, how much is 100 contracts ?
[2014-11-24 17:27:31] laisee : order book reappeared with 11 levels now.
[2014-11-24 17:29:32] BitMEX_Sam : sleger: It is the contract price * 1000 satoshis
[2014-11-24 17:29:33] BitMEX_Arthur : 100 contracts is approximately 0.3867
[2014-11-24 17:29:38] BitMEX_Sam : :)
[2014-11-24 17:29:56] BitMEX_Arthur : also you can see the value of any contract amount and price as the "Gross Value" in the order controls widget
[2014-11-24 17:30:15] BitMEX_Arthur : take a look at the calculator if you want to see how profit is calculated
[2014-11-24 17:35:21] sleger : ok so 1btc is approximately 260 ctracts
[2014-11-24 17:35:48] BitMEX_Arthur : correct
[2014-11-24 19:00:43] null : why isn't the fee 0%?
[2014-11-24 19:01:04] null : for the first month or so
[2014-11-24 19:01:09] null : or like for rest of 2014
[2014-11-24 19:01:19] null : I think that would be a great promo
[2014-11-24 19:02:38] BitMEX_Sam : We believe the product stands tall on its own, to be honest. We're serious about the product, about safe trading, and about standing behind our settlements and trades, and 0% fees aren't really a part of that ethos
[2014-11-24 19:04:03] BitMEX_Sam : We're also a 100% bootstrapped company, so it's important to build a sustainable business rather than cut & run.
[2014-11-24 19:40:56] BitMEX_Sam : Our first session ends in 20 minutes, congrats everyone
[2014-11-24 21:04:50] binaryfin : Congrats on the Launch!
[2014-11-24 21:05:05] binaryfin : just in time for my trip
[2014-11-24 21:09:06] BitMEX_Sam : :) Good to see you again @binaryfin
[2014-11-24 22:01:29] floopfloop : Sam, will you end up having a credit system like Bitfinex?
[2014-11-24 22:30:22] floopfloop : also, will there be a points system?
[2014-11-24 22:30:35] floopfloop : maybe have contests like Crypsy?
[2014-11-24 23:21:20] ShawnLeary : AWESOMENESS!
[2014-11-24 23:43:49] BitMEX_Arthur : morning asia
[2014-11-25 01:01:19] zareri : can you change the color themes?
[2014-11-25 01:03:49] BitMEX_Arthur : not a fan of the grey?
[2014-11-25 01:05:39] zareri : i am not, it is harder to read than the traditional black contrast
[2014-11-25 01:09:14] BitMEX_Arthur : ok thanks for the feedback
[2014-11-25 01:14:44] zareri : for sure, i just noticed your name. =) browsing the faq now. some good descriptions in there thus far.
[2014-11-25 01:15:13] BitMEX_Arthur : i'm glad u find them useful let us know if anything is unclear
[2014-11-25 01:15:34] zareri : These instruments are used to traded the implied interest ... typo
[2014-11-25 01:16:17] zareri : lesson 3 top of page.
[2014-11-25 01:16:42] BitMEX_Arthur : thanks ):
[2014-11-25 01:16:44] BitMEX_Arthur : :)
[2014-11-25 01:20:45] Aether : whats the highest leverage
[2014-11-25 01:20:50] Aether : this site offers?
[2014-11-25 01:23:31] BitMEX_Arthur : at the moment you may leverage up to 5x
[2014-11-25 01:25:32] Aether : will we see 50x or 100x ?
[2014-11-25 01:26:12] BitMEX_Arthur : the vol on Bitcoin is way to high for centrally clearing derivatives exchange to allow that kind of leverage
[2014-11-25 01:26:50] BitMEX_Arthur : USDJPY at 200x is like Bitcoin leverage at 20x imo
[2014-11-25 01:27:01] Aether : whats the max leverage you guys plan to offer?
[2014-11-25 01:27:57] BitMEX_Arthur : we are data dependant our chief risk officer will be evaluating the trading data and determining if and when we increase or decrease leverage
[2014-11-25 01:28:09] BitMEX_Arthur : i imagine once we have more data points we will be able to safely increase the leverage offered
[2014-11-25 01:28:14] Aether : oh nice
[2014-11-25 01:34:14] zareri : To hedger her bet,.....
[2014-11-25 01:34:22] zareri : hedging example 2
[2014-11-25 01:37:22] BitMEX_Arthur : thx
[2014-11-25 01:56:01] rhk : BitMEX_Arthur: any plans to list longer-dated futures?
[2014-11-25 02:01:19] Aether : can i have some free btc to test the site out before depositing?
[2014-11-25 02:42:17] BitMEX_Arthur : rhk: yes we want to build liquidity in the front months first
[2014-11-25 02:42:29] BitMEX_Arthur : our anchor market maker will make up to 12 months out
[2014-11-25 02:42:55] rhk : that would be good.. OKCoin has mar15 & ICBIT has sep15 listed already
[2014-11-25 02:43:33] BitMEX_Arthur : liquidity is our concern most traders focus on the front months so we don't want to spread ourselves too thin too early
[2014-11-25 02:44:11] zareri : so i am trying to remove indicators from the chart and the star is missing but they are staying drawn under the chart.
[2014-11-25 02:45:01] BitMEX_Arthur : Aether: we aren't in the business of giving away free coins, why don't you deposit 0.05 XBT which is quite a small amount and you can play around trading a few contracts, or go to https://testnet.bitmex.com to trade with testnet coins that have no value that is an exact replica of the real money exchange
[2014-11-25 02:45:21] BitMEX_Arthur : zareri: we have noticed that bug as well we are working on fixing that
[2014-11-25 02:48:56] zareri : indicators on charts are not removed after being disabled
[2014-11-25 02:49:04] zareri : df
[2014-11-25 02:51:35] BitMEX_Arthur : rhk: the march 2015 contract will be listed this friday
[2014-11-25 02:56:12] zareri : ok sorry for the multiple post, it was lagged out and i wasnt sure if it went though. =) glad you guys know and are working on it. So far this platform seems pretty solid. cant wait to see more volume and contract types
[2014-11-25 03:11:28] rhk : all prices disappeared again
[2014-11-25 04:14:03] zareri : can you change the time zone to your local one?
[2014-11-25 04:24:32] BitMEX_Arthur : it is your local timezone
[2014-11-25 04:24:55] BitMEX_Arthur : "Current Time" says the time in your location so for me i'm in HKT it reads GMT + 8
[2014-11-25 04:25:08] BitMEX_Arthur : all times are local to you
[2014-11-25 04:28:55] rhk : are jan prices going to come back?
[2014-11-25 04:31:40] BitMEX_Arthur : mm was out briefly he is putting them back in now
[2014-11-25 04:31:48] rhk : thx
[2014-11-25 04:58:43] rhk : BitMEX_Arthur: are there any settlement fees?
[2014-11-25 05:09:20] BitMEX_Arthur : rhk: no
[2014-11-25 06:03:59] BitMEX_Arthur : Rhk I misspoke I was referring to settlement of variation margin every 8 hours. We do charge commission on settlement day if you hold the contract to maturity. Sorry for the confusion.
[2014-11-25 06:07:40] rhk : yeah thats what i meant
[2014-11-25 06:07:45] rhk : same rate as trading fee?
[2014-11-25 06:56:42] rhk : BitMEX_Arthur: can you add those charges to the fees page?
[2014-11-25 06:57:04] rhk : btw, when's the launch party? ;)
[2014-11-25 06:57:56] cumberland : Day 1 volume total?
[2014-11-25 06:58:09] cumberland : is that a number we can find on the site?
[2014-11-25 07:11:22] BitMEX_Arthur : rhk: we will add that
[2014-11-25 07:11:36] BitMEX_Arthur : and the party will happen soon don't worry it's going to be a good one
[2014-11-25 07:12:17] BitMEX_Arthur : cumberland: we are working on that for you
[2014-11-25 07:17:36] cumberland : what was the total, anyways?
[2014-11-25 07:19:46] BitMEX_Sam : cumberland: In the meantime, you can query tradeBin and add up the 'volume' - try `curl -s "https://www.bitmex.com/api/v1/trade/bucketed?symbol=XBTZ14&binSize=1h" | jq "map(.volume) | add"`
[2014-11-25 07:20:41] BitMEX_Sam : that gives me `24526` for XBTZ14, `13571` for XBTF15, and `0` for XBTZ14_XBTF15
[2014-11-25 08:32:28] rhk : BitMEX_Sam: when are you likely to have fixed API access keys (ie no need to deal with token/renewal)?
[2014-11-25 08:36:37] BitMEX_Sam : ASAP, I have significant code written that will be ready soon.
[2014-11-25 08:38:24] BitMEX_Sam : rhk: Essentially the only blocker right now is testing, like any authentication method, one needs to be very sure it's implemented correctly.
[2014-11-25 08:40:53] rhk : BitMEX_Sam: are we talking days or weeks?
[2014-11-25 08:41:01] BitMEX_Sam : Days
[2014-11-25 08:41:10] rhk : BitMEX_Sam: ok great.. i'll hang on a bit then
[2014-11-25 08:41:20] BitMEX_Sam : Great.
[2014-11-25 08:41:41] BitMEX_Sam : Usually in the bots we and our partners have written, we simply wrap the request function in a try/catch waiting for 401s, then renew the token
[2014-11-25 08:42:03] BitMEX_Sam : Alternatively, since they are 24 hour tokens, you could set a timer to renew every 12hrs or so. But it's a bit of a pain either way
[2014-11-25 08:43:17] rhk : BitMEX_Sam: how does that work with the websocket API tho?
[2014-11-25 08:43:38] BitMEX_Sam : You can either grab an accessToken via REST and use it to auth, or auth through WS itself
[2014-11-25 08:43:49] BitMEX_Sam : See https://www.bitmex.com/app/wsAPI#authentication
[2014-11-25 08:46:54] rhk : BitMEX_Sam: where are the actual messages defined (for websockets)?
[2014-11-25 08:47:36] BitMEX_Sam : See https://www.bitmex.com/app/wsAPI#anatomy-of-a-response for some explanation of what comes out, or issue the `help` command when connected
[2014-11-25 08:47:44] BitMEX_Sam : sorry bad link there. let me fix that
[2014-11-25 08:49:13] rhk : BitMEX_Sam: e.g. the docs say i'll get a 'status' message if the token is invalid, but that isnt listed anywhere
[2014-11-25 08:49:16] BitMEX_Sam : See the `wsdump` example at the bottom, that's a good way to get a feel for it
[2014-11-25 08:49:26] rhk : also how would i send an order request via websocket?
[2014-11-25 08:49:44] BitMEX_Sam : At this time, you can't submit orders via WS
[2014-11-25 08:49:52] rhk : ah i see
[2014-11-25 08:50:01] rhk : so market data & account info only?
[2014-11-25 08:50:02] BitMEX_Sam : As for the status message, what that means is, a message containing `success` and `expiry`
[2014-11-25 08:50:16] BitMEX_Sam : Yeah. Real-time instrument, position, margin, orderbook, and trade data
[2014-11-25 08:50:25] BitMEX_Sam : As well as live executions and order updates
[2014-11-25 08:50:39] rhk : any plans to allow you to trade via the same interface?
[2014-11-25 08:50:57] BitMEX_Sam : I believe the request/response model of HTTP is better suited to placing orders - we support keep-alive so the latency should be nearly the same
[2014-11-25 08:51:02] BitMEX_Sam : But it's not out of the question
[2014-11-25 08:55:15] null : what is the leerage on XBTZ14?
[2014-11-25 08:55:25] null : leverage*
[2014-11-25 08:55:41] BitMEX_Sam : 30% initial margin, 20% maint, so 3.3 to 5x
[2014-11-25 08:56:25] null : so if I go long with 1BTC, I have 3.3BTC in play?
[2014-11-25 08:56:32] null : or 5?
[2014-11-25 08:57:17] BitMEX_Sam : 3.3 initially, and you're not margin called until your equity hits less than 20%
[2014-11-25 08:57:41] BitMEX_Sam : Try entering some values into the order box, you can see how the math works out
[2014-11-25 08:57:58] BitMEX_Sam : The calculator link will pop up a widget that can help you predict profits based on potential price movements
[2014-11-25 09:58:43] sjovani : the whole margin system does not work correct
[2014-11-25 09:59:01] BitMEX_Sam : sjovani: How so?
[2014-11-25 09:59:09] sjovani : i want to submit orders but cannot, even though have available margin...so effectively Initial margin is even more than those 30%
[2014-11-25 09:59:36] sjovani : "Order could not be submitted..risk value blabla....(cannot read rest of message)
[2014-11-25 09:59:51] BitMEX_Sam : Initial margin requirements apply to all orders that you have open, do you have a lot of orders open already?
[2014-11-25 10:00:00] sjovani : no
[2014-11-25 10:00:09] sjovani : I have "available margin of 6.55"
[2014-11-25 10:00:17] sjovani : so how big buy order should I then be able to place?
[2014-11-25 10:01:25] sjovani : i want to place buy order 1000, system dont let me
[2014-11-25 10:01:46] BitMEX_Sam : Okay. Hold on a second, looking into it.
[2014-11-25 10:07:51] BitMEX_Sam : @sjovani You bumped into an internal risk limit we implemented for new users
[2014-11-25 10:07:58] BitMEX_Sam : We have increased it, so you may trade as normal
[2014-11-25 10:08:04] BitMEX_Sam : You won't run into it again.
[2014-11-25 10:08:07] sjovani : OK
[2014-11-25 10:09:02] sjovani : still not working
[2014-11-25 10:09:08] sjovani : (after reloading page)
[2014-11-25 10:09:28] BitMEX_Sam : Okay, hold on, tracing down the message on that one...
[2014-11-25 10:10:28] BitMEX_Sam : Okay. Try again
[2014-11-25 10:11:41] sjovani : now it works
[2014-11-25 10:11:50] BitMEX_Sam : Great :)
[2014-11-25 10:12:26] BitMEX_Sam : We have a large array of internal risk checks to protect users - this particular one was a bit overzealous
[2014-11-25 10:12:33] BitMEX_Sam : We'd rather be too cautious than too risky, though.
[2014-11-25 10:13:40] sjovani : rather be just good in between
[2014-11-25 10:13:52] BitMEX_Sam : Of course.
[2014-11-25 10:14:00] BitMEX_Sam : Thanks for bearing with us
[2014-11-25 10:15:52] ANX4EVER : Hello!
[2014-11-25 10:16:27] BitMEX_Sam : Hey @ANX4EVER, how's it going
[2014-11-25 10:16:41] ANX4EVER : cool
[2014-11-25 10:16:45] ANX4EVER : just wanted to say hello
[2014-11-25 10:16:55] ANX4EVER : and give this thing a whirl too
[2014-11-25 10:17:27] BitMEX_Sam : Glad to see you, thanks for checking us out
[2014-11-25 10:17:33] BitMEX_Sam : ANX employee or user?
[2014-11-25 10:17:41] ANX4EVER : employee
[2014-11-25 10:17:59] BitMEX_Sam : Great - based in HK?
[2014-11-25 10:18:09] ANX4EVER : yup
[2014-11-25 10:18:19] BitMEX_Sam : Awesome. I love that city
[2014-11-25 10:18:24] ANX4EVER : you're not in HK?
[2014-11-25 10:18:31] BitMEX_Sam : Not at the moment, but the rest of the team is
[2014-11-25 10:18:45] BitMEX_Sam : I've been doing some traveling. In Croatia right now
[2014-11-25 10:19:18] ANX4EVER : croatia? they like bitcoins there?
[2014-11-25 10:19:33] BitMEX_Sam : Hah not that I know of. But it's beautiful and warmer than most of Europe
[2014-11-25 11:07:45] sjovani : sam, is settlement also regarded as a trade loosing yet another 0.5%?
[2014-11-25 11:17:41] BitMEX_Sam : Yes, since it is effectively a position exit.
[2014-11-25 11:22:26] BitMEX_Sam : We will be clarifying this in our fees page very soon.
[2014-11-25 11:25:56] floopfloop : why is there such a high buy?
[2014-11-25 11:26:02] floopfloop : is that bitmex?
[2014-11-25 11:26:21] floopfloop : 10000 10000 392.00 86726 76726 390.00
[2014-11-25 11:27:17] BitMEX_Sam : That is our primary market maker
[2014-11-25 11:27:30] BitMEX_Sam : That's real liquidity, it can be bought into.
[2014-11-25 11:29:11] sjovani : sam, the fees are really insane
[2014-11-25 11:31:48] BitMEX_Sam : Sorry you think so - however we have a very different product than our competitors. We are the only exchange around where you can hedge without fear that your settlement will be cut - we stand behind all settlements
[2014-11-25 11:32:45] BitMEX_Sam : I know it feels like a high fee at the start, but take that haircut just one time and 0.5% starts to feel really low.
[2014-11-25 11:35:35] sjovani : There is no way of trading with a 1% loss from the start...and its not even hold and buy, as this stuff expires every month...
[2014-11-25 11:36:13] sjovani : if it were stocks you keep indefinitely (or buying real BTC)...then it has some ground...but a derivatives exchange....
[2014-11-25 11:36:56] BitMEX_Sam : You're right about that part, we are looking into reductions for long-time holders
[2014-11-25 11:37:01] BitMEX_Sam : 1%/mo is rough.
[2014-11-25 11:37:25] sjovani : its not rough, its completely insane
[2014-11-25 11:37:31] BitMEX_Sam : Stay tuned, we're having this conversation internally
[2014-11-25 11:37:52] BitMEX_Sam : When we designed this product, most of the Chinese exchanges weren't even trading futures
[2014-11-25 11:38:14] BitMEX_Sam : The only competition at the time was charging a 1%/day funding fee.
[2014-11-25 11:38:14] sjovani : we're living in a fast moving world
[2014-11-25 11:38:19] BitMEX_Sam : Haha yes. You are correct in that
[2014-11-25 11:38:33] BitMEX_Sam : Like I said, stay tuned.
[2014-11-25 11:38:43] sjovani : :)
[2014-11-25 12:20:42] tester555 : " We are the only exchange around where you can hedge without fear that your settlement will be cut ". How do you guarantee that?
[2014-11-25 12:21:15] BitMEX_Sam : Through very stringent risk policies, inside and out, in combination with our financial experience.
[2014-11-25 12:22:09] BitMEX_Sam : We don't offer leverage as high as other exchanges and our liquidation engine is more sophisticated. Additionally we have an employee whose only job is to help reduce this risk.
[2014-11-25 12:22:24] BitMEX_Sam : In the unfortunate circumstance that any losses do occur, we don't push them onto our users.
[2014-11-25 12:23:07] tester555 : That's nice to hear, but will you pay it from the clients money?
[2014-11-25 12:23:18] BitMEX_Sam : No, we would pay it from our own reserves.
[2014-11-25 12:23:36] BitMEX_Sam : At no point do we or would we risk our customers' money.
[2014-11-25 12:23:59] BitMEX_Sam : Nor would we become fractional. I am working on a proof of reserve system but there are some complications at the moment with our use of multisig addresses.
[2014-11-25 12:25:20] tester555 : Makes sense. WEll, everyone said that in the beginning, but it looks like nearly everyone failed (icbit in its early stage, 796.com and okcoin followed with cutting payouts, there were some speculation about bitfinex problems but they are not confirmed iirc)
[2014-11-25 12:26:18] BitMEX_Sam : Yeah, but for those exchanges it is actually written into the policy that they will give you these haircuts on settlement. We explicitly will not do that.
[2014-11-25 12:26:56] BitMEX_Sam : An unfortunate side-effect of that is that you cannot effectively exit your position on these exchanges mid-month; your profit isn't realized until they have a chance to give you that cut.
[2014-11-25 12:27:56] tester555 : Ah, you are right. Ok, I am still worried a bit, because at least they say that they will cut profits to stay solvent and this removes concerns about "getting into users wallets"
[2014-11-25 12:28:17] tester555 : I will deposit a little bit to try out your service
[2014-11-25 12:28:47] tester555 : Why can't you exit positions mid-months on icbit or okcoin or 796?
[2014-11-25 12:29:04] tester555 : IIRC they all offer an open market
[2014-11-25 12:30:50] BitMEX_Sam : You can exit the position, but your profit is held as unrealized until the settlement
[2014-11-25 12:31:05] tester555 : Wow, where is that?
[2014-11-25 12:31:21] tester555 : I traded mostly on icbit, that doesn't happen there. I also tried 796.com a while ago.
[2014-11-25 12:31:26] tester555 : Never tried okcoin myself yet.
[2014-11-25 12:34:22] BitMEX_Sam : As far as I know ICBIT doesn't do this, they have a different system in combination with high funding fees, but I'll let Arthur get in on this
[2014-11-25 12:34:55] BitMEX_Arthur : Hi
[2014-11-25 12:35:51] BitMEX_Arthur : so what sam means is if u make x on okcoin, bitvc, or 796 you can't withdraw ur profit to you own wallet until the calculate the tax for that contract
[2014-11-25 12:36:50] tester555 : Oh, it must be new rules for 796 and okcoin. This is ridiculous.
[2014-11-25 12:36:56] tester555 : Thank you for info
[2014-11-25 12:37:11] BitMEX_Arthur : on icbit they have a force majeur clause which states if they need to close out bankrupt traders at a price that causes the exchange a loss they close out the opposing side at the bankruptcy price
[2014-11-25 12:37:49] floopfloop : Arthur.....if I may
[2014-11-25 12:38:14] BitMEX_Arthur : Hey floop
[2014-11-25 12:38:59] floopfloop : Heya
[2014-11-25 12:39:09] BitMEX_Arthur : But you should always read the margin policy regularly we will notify you of any changes via email and on the announcements page
[2014-11-25 12:39:23] floopfloop : Trading at Bitmex may cost more but you have a better peace of mind
[2014-11-25 12:39:46] floopfloop : BitMEX: Bitcoin without the bullshit lol
[2014-11-25 12:41:57] BitMEX_Arthur : Haha
[2014-11-25 13:26:30] floopfloop : Can you send out an email when you figure out what you are doing with the no fee winners?
[2014-11-25 13:26:57] floopfloop : I think I would have profited a little bit if I had no fee lol
[2014-11-25 14:39:03] coroner : 389.14 75795 75795
[2014-11-25 14:39:11] coroner : top dec ask, is that right?
[2014-11-25 14:49:48] BitMEX_Arthur : coroner: what's the issue?
[2014-11-25 14:51:00] coroner : the order book, I think there are some errors in the data at times
[2014-11-25 14:51:05] coroner : now it refreshed and is okay again
[2014-11-25 14:51:46] BitMEX_Arthur : next time if u can please take a screenshot and send to us support@bitmex.com so we can fix
[2014-11-25 14:51:48] coroner : I like the site, but I need to have enough confidence before I deposit larger amounts of funds
[2014-11-25 14:51:54] coroner : alrighty
[2014-11-25 14:52:25] BitMEX_Arthur : of course we are in this for the long run try us out with small amounts and hopefully you will trade in bigger size in the future
[2014-11-25 14:52:35] coroner : thx
[2014-11-25 15:02:41] rhk : BitMEX_Sam: around? looking for an API to get the overall margin info (wallet balance, margin figues etc)
[2014-11-25 15:06:39] BitMEX_Arthur : rhk: can you send a detailed request of what you need to support@bitmex.com we can keep track of it better in our ticketing system
[2014-11-25 15:08:48] BitMEX_Sam : rhk: I'm in, what's the request?
[2014-11-25 15:09:37] BitMEX_Sam : https://www.bitmex.com/api/explorer/#!/user/User_getMe documents the method for getting your user, which has an attached `margin` object with all the details in the margin widget, and more.
[2014-11-25 15:14:58] rhk : BitMEX_Sam: got it thx
[2014-11-25 15:15:37] rhk : the margin object isnt listed in the docs, but i can see it
[2014-11-25 16:09:14] BitMEX_Sam : Yeah. Will probably make that a separate call for convenience
[2014-11-25 17:43:57] ctrader : Hey same. Are there margin fees? I don't see the rate.
[2014-11-25 17:46:03] BitMEX_Wally : There are no margin fees.
[2014-11-25 17:46:29] BitMEX_Wally : There is a 30% initial margin requirement to place an order
[2014-11-25 17:46:47] BitMEX_Wally : Then a 20% maintenance margin requirement on a position
[2014-11-25 17:46:53] ctrader : No margin interest?
[2014-11-25 17:47:17] BitMEX_Wally : Correct, you are trading futures which have the 'interest' priced into them
[2014-11-25 17:47:33] ctrader : ok thanks. Just double checking. Still learning
[2014-11-25 17:47:52] BitMEX_Wally : Have a look at some of our trading guides
[2014-11-25 17:48:21] ctrader : yep. I am thx.
[2014-11-25 17:48:23] BitMEX_Wally : :)
[2014-11-25 18:00:10] coroner : please enable 2fa verification for withdrawals
[2014-11-25 18:05:00] BitMEX_Sam : coroner: That's on its way. At this time we require email verification to withdraw, and you should receive an opportunity to confirm or cancel via email. We will be adding 2FA shortly for the initial request as well.
[2014-11-25 18:11:00] coroner : sweet
[2014-11-25 18:13:44] BitMEX_Sam : BTW @everyone, we have now introduced Maker/Taker fees
[2014-11-25 18:13:56] BitMEX_Sam : In many cases, your fees have just been cut in half.
[2014-11-25 18:16:32] coroner : Getting liquidity is kind of a chicken and egg problem I guess
[2014-11-25 18:18:19] coroner : Me personally I'd be much happier paying a flat fee for trading
[2014-11-25 18:18:47] coroner : VaultOfSatoshi does this, but they're just too small
[2014-11-25 18:18:51] BitMEX_Sam : Well, think of this way. It's flat, except sometimes, you pay less. :)
[2014-11-25 18:18:58] BitMEX_Sam : We don't really have a liquidity problem, though.
[2014-11-25 18:19:19] coroner : ~8 dollar spread is not exactly liquid imo
[2014-11-25 18:19:48] BitMEX_Sam : About 2%.
[2014-11-25 18:19:59] BitMEX_Sam : Yeah. Could be improved
[2014-11-25 18:20:19] coroner : well if you aim for 2% per trade then that is actually quite a lot..
[2014-11-25 18:20:26] coroner : 2% profit I mean
[2014-11-25 18:20:34] BitMEX_Sam : Sure
[2014-11-25 18:20:48] BitMEX_Sam : We have others who will be filling in the spread, as well as some of our users
[2014-11-25 18:20:57] coroner : I trade a lot, so I really need that spread to get narrower
[2014-11-25 18:20:58] BitMEX_Sam : We're about to roll out permanent API keys which will make the interactions with our API much smoother
[2014-11-25 18:21:13] coroner : ok
[2014-11-25 20:55:28] null : do you guys plan any lending program (where one lends BTC for interest)?
[2014-11-25 21:01:41] BitMEX_Sam : Hey @null - At this time, no, we don't, and I believe it will stay that way for some time
[2014-11-25 21:01:47] BitMEX_Sam : We do have some interesting products coming around the bend, though.
[2014-11-25 21:02:10] joequant : Hi.
[2014-11-25 21:02:16] null : Who provides liquidity for leverage now?
[2014-11-25 21:02:26] joequant : I'm doing market making.
[2014-11-25 21:02:32] joequant : So if you don't like the price
[2014-11-25 21:02:37] joequant : just speak up
[2014-11-25 21:02:48] null : joequant: what do you mean?
[2014-11-25 21:02:56] joequant : and I'll see if I can get you what you want.
[2014-11-25 21:03:03] joequant : I'm trying to make money
[2014-11-25 21:03:04] null : are the 70k orders yours?
[2014-11-25 21:03:07] joequant : no
[2014-11-25 21:03:17] joequant : by playing the bid-ask spread
[2014-11-25 21:03:27] joequant : which doesn't work if no one is buying
[2014-11-25 21:03:40] joequant : so if you want to buy/sell BTC
[2014-11-25 21:03:48] joequant : and you don't like the current order
[2014-11-25 21:03:51] joequant : just say something
[2014-11-25 21:03:54] null : oh
[2014-11-25 21:03:57] null : no thanks
[2014-11-25 21:04:03] null : not at this time :)
[2014-11-25 21:04:04] joequant : and we can negotiate something on the trollbo
[2014-11-25 21:04:53] null : BitMEX_Sam: who is funding the leverage right now?
[2014-11-25 21:05:33] null : I wish there was a stupid simple and succint FAQ somewhere
[2014-11-25 21:12:18] BitMEX_Sam : That's a good idea, we should write one that's a little more down-to-earth
[2014-11-25 21:12:23] BitMEX_Sam : I'll make an issue in our systems for that
[2014-11-25 21:12:32] BitMEX_Sam : Anyway, we are funding it
[2014-11-25 21:13:09] joequant : Markets should be quieter today.
[2014-11-25 21:47:19] floopfloop : Sam, you see this?
[2014-11-25 21:47:19] floopfloop : http://www.coindesk.com/nadex-bitcoin-binaries-us-market/
[2014-11-25 23:23:32] BitMEX_Arthur : morning asia
[2014-11-26 00:24:55] floopfloop : BitMEX_Arthur: Hey I had to leave earlier, did you guys ever say what you were doing for no fee winners?
[2014-11-26 00:26:56] BitMEX_Arthur : floopfloop: we will get back to you today
[2014-11-26 00:35:51] floopfloop : alright
[2014-11-26 00:35:57] floopfloop : wasnt trying to rush
[2014-11-26 00:36:08] floopfloop : was jw since I was gone and didnt want to read the mountain of troll lol
[2014-11-26 01:04:23] joequant : hi ho.
[2014-11-26 01:07:48] floopfloop : ni hao
[2014-11-26 01:41:53] rhk : no prices in jan again
[2014-11-26 01:51:08] joequant : just put in a quoute
[2014-11-26 01:51:36] BitMEX_Wally : Or you can trade the calendar spread
[2014-11-26 01:51:59] joequant : It's funny.
[2014-11-26 01:52:03] BitMEX_Wally : Buying 1 contract of XBTZ14_XBTF15 is the same as selling XBTZ14 and buying XBTF15
[2014-11-26 01:52:22] joequant : I think there were a dozen bots that were just waiting for a human to put in a quote.
[2014-11-26 02:09:51] BitMEX_Arthur : joequant: you been able to build a bot
[2014-11-26 02:35:42] rhk : i have an open order, but when i click cancel its not cancelled
[2014-11-26 02:36:28] rhk : tried from both 'all open orders' and 'open orders zbtf15' tabs
[2014-11-26 02:38:02] rhk : browser console gives an error
[2014-11-26 02:38:02] rhk : DELETE https://www.bitmex.com/api/v1/order 404 (Not Found)
[2014-11-26 02:39:12] rhk : after i close & reopen tab the order is gone
[2014-11-26 02:43:27] rhk : joequant: no.. there is only one market maker quoting all prices on the screen at the moment. they regularly pull all the quotes though.
[2014-11-26 02:46:10] BitMEX_Arthur : rhk: thanks for that, if that happens again pls send us a screenshot to support@bitmex.com will look into that
[2014-11-26 02:52:48] rhk : BitMEX_Arthur: sure. i sent the stack trace through to sam
[2014-11-26 02:52:59] BitMEX_Arthur : ok great
[2014-11-26 02:54:42] BitMEX_Wally : rhk: Realtime updates come through WebSocket, seems like your browser missed the update telling it that order was canceled
[2014-11-26 02:56:47] joequant : 你好。 checking if trollbox can handle unicode
[2014-11-26 04:25:58] BitMEX_Wally : :xbt:
[2014-11-26 04:26:00] BitMEX_Wally : :btc:
[2014-11-26 04:26:19] BitMEX_Wally : &btc
[2014-11-26 04:26:29] BitMEX_Wally : &btc;
[2014-11-26 04:26:34] BitMEX_Wally : Got there eventually :)
[2014-11-26 04:26:54] BitMEX_Wally : &btc followed by a semicolon
[2014-11-26 07:27:35] cumberland : Considering BitMEX's target audience are "commercial hedgers, miners, payment processors, and any other parties that have a need for serious derivatives products"....the contract size is too small by a factor of 10,000
[2014-11-26 07:29:24] BitMEX_Arthur : cumberland: this is the uber mini contract but we will re evaluate as the platform grows
[2014-11-26 08:16:58] BitMEX_Arthur : here comes the shakeout
[2014-11-26 09:34:13] void : Please change to Bitcoin
[2014-11-26 09:34:17] void : so small.
[2014-11-26 09:34:29] void : Change to bitcoin directly.
[2014-11-26 09:35:05] void : and the trasaction fee is higher than icbit...
[2014-11-26 09:36:29] BitMEX_Sam : It's a very different product than icbit, and we don't charge daily funding fees, which are the bulk of their fee structure.
[2014-11-26 09:36:52] void : icbit didn't charge daily funding fee.
[2014-11-26 09:36:57] void : btc.sx charge this.
[2014-11-26 09:37:12] void : and china btc futures didn't charge also. It's ok.
[2014-11-26 09:38:29] BitMEX_Sam : Depends on the contract, you're right though, it looks like they are moving to a different structure recently
[2014-11-26 09:40:33] void : looks like buy and sell bitcoin is more suitable for bitmex.
[2014-11-26 09:40:42] void : Or at least 100$
[2014-11-26 09:40:52] void : okcoin use 100$
[2014-11-26 09:40:55] void : 796 use bitcoin
[2014-11-26 09:53:08] BitMEX_Arthur : void: you want a bigger contract size in Bitcoin?
[2014-11-26 09:53:25] void : surely.
[2014-11-26 09:53:29] BitMEX_Arthur : ok
[2014-11-26 09:53:43] void : It's so small now.
[2014-11-26 09:54:23] void : Seem you guys can come to hk bitcoin meeting on friday A lot of chinese trader will join this conforence.
[2014-11-26 09:54:48] BitMEX_Arthur : one of the co-founders will be in attendance on saturday
[2014-11-26 09:58:45] BitMEX_Arthur : void: if you are going to be there please send us a mail to support@bitmex.com so we can meet you in person
[2014-11-26 09:59:36] void : Arthur.we have email contact before. I have a topic about bitcoin future at Saturday.
[2014-11-26 10:00:02] BitMEX_Wally : I'll be there
[2014-11-26 10:00:11] BitMEX_Wally : What's the schedule for Friday? I'm free in the evening
[2014-11-26 10:01:05] void : You can find the schedule on the http://www.globalbtcsummit.com/
[2014-11-26 11:57:54] joequant : I'll be there
[2014-11-26 14:25:33] BitMEX_Sam : Permanent API keys are now live - thanks for your suggestions everyone.
[2014-11-26 14:44:29] rhk : BitMEX_Sam: so we can create as many API keys as we need?
[2014-11-26 14:44:42] BitMEX_Sam : rhk: Yes, and they can be restricted to CIDR ranges
[2014-11-26 14:44:50] BitMEX_Sam : For now, please use the command line client in the market-maker repository
[2014-11-26 14:44:56] BitMEX_Sam : I'll be adding a UI for it later on.
[2014-11-26 14:58:08] floopfloop : hmm, no confirm email?
[2014-11-26 14:59:59] BitMEX_Arthur : floopfloop: ?
[2014-11-26 15:03:52] floopfloop : I made a withdraw
[2014-11-26 15:04:24] floopfloop : its pending, but I have no email condirm
[2014-11-26 15:04:43] BitMEX_Arthur : thx for alerting us, we'll see what happened
[2014-11-26 15:41:20] floopfloop : also
[2014-11-26 15:41:25] floopfloop : I got my funds back
[2014-11-26 15:41:34] floopfloop : it wont let me withdraw exact funds
[2014-11-26 15:41:44] floopfloop : .0001 off I think
[2014-11-26 15:42:02] floopfloop : It wont allow me to withdraw maximum, even if I include fee.
[2014-11-26 15:44:09] BitMEX_Arthur : can you take a screenshot please thanks
[2014-11-26 15:44:17] BitMEX_Arthur : and send to support@bitmex.com
[2014-11-26 15:44:18] BitMEX_Arthur : thanks
[2014-11-26 16:12:21] BitMEX_Sam : floopfloop: You have an email
[2014-11-26 18:30:49] jon : congrts for the launch again
[2014-11-26 18:31:06] jon : hope the volume will rapidly grow up
[2014-11-27 01:59:23] primevalsoup : i have a couple of questions which were not immediately obvious (to me at least) from reading your docs
[2014-11-27 01:59:53] primevalsoup : when paying out PL in XBT at settlement what rate do you use to convert USD P&L to XBT?
[2014-11-27 01:59:59] primevalsoup : the settlement price?
[2014-11-27 02:00:53] primevalsoup : other exchange (796) use a fixed multiplier which means that i end up with gamma exposure when putting on a hedge position which is not always desireable
[2014-11-27 02:02:08] primevalsoup : also if i hold contract to settlement will you charge me commission for settling the contract? or do i only pay when actually buying/selling?
[2014-11-27 02:05:38] rhk : @BitMEX_Arthur i assume settlement fees are charged at 'taker' rates? can you confirm?
[2014-11-27 02:30:25] BitMEX_Arthur : primevalsoup: hi you are correct the multiplier is in XBT so you do have USD gamma
[2014-11-27 02:39:37] primevalsoup : thanks arthur, i see now that it's an XBT multiplier
[2014-11-27 02:40:02] primevalsoup : also if you could confirm the settlement fees that would be great
[2014-11-27 02:59:16] BitMEX_Arthur : yes will do
[2014-11-27 03:00:01] BitMEX_Arthur : primevalsoup: which type of future do u prefer?
[2014-11-27 03:01:23] primevalsoup : im actually interested in both
[2014-11-27 03:01:59] primevalsoup : if i can get "cheap" gamma
[2014-11-27 03:02:23] primevalsoup : then i'd put on a position using the quanto futures
[2014-11-27 03:02:45] primevalsoup : and dynamically hedge to capture the volatility
[2014-11-27 03:03:09] primevalsoup : i also am running a marketmaking book and am interested in non-quanto futures to hedge my BTC inventory
[2014-11-27 03:03:10] BitMEX_Arthur : yeah that will be an interesting strategy
[2014-11-27 03:03:26] primevalsoup : right now im selling on swap to myself on Bitfinex
[2014-11-27 03:03:29] primevalsoup : so sell on swap
[2014-11-27 03:03:31] BitMEX_Arthur : so would you be interested in mm for us
[2014-11-27 03:03:32] primevalsoup : by on the exchnage