2017 - QuadrigaCX : Mike Patryn : BitMex Chats

2017-07-04 15:16:13 Patryn
We fell nearly 1%. This must be the big crash.

2017-07-15 14:16:10 Patryn
There are actually hundreds of legit waterfront homes in Brooklyn. It's amazing how often people screw up that joke.

2017-07-15 15:17:15 Patryn
glad I loaded up on shorts during that bounce. Those 45k, 50k, and 20k sales were mine. Planning to start going long around 1980

2017-07-15 15:17:58 Patryn
Seems like another GS self-fulfilling prophecy. Not the first time. Crash should end before 1850, then bounce.

2017-07-15 15:18:45 Patryn
The profit that i've made from predicting where to catch the falling knife is more of a favour than the stress of having to keep cost averaging down.

2017-07-15 15:19:27 Patryn
60% of the time, he's right every time.

2017-07-15 15:20:42 Patryn
Lets touch 1980 first so I can switch to long.

2017-07-15 15:21:16 Patryn
It's the blood of crypto holders who just lost their newfound fortunes.

2017-07-15 19:12:31 Patryn
If you need 2 to get laid, you have bigger problems, buddy

2017-07-15 19:12:51 Patryn
lol

2017-07-27 23:38:58 Patryn
Most probably, dude. I'm going all in

2017-07-27 23:39:56 Patryn
I'm actually shorting this rise, expecting to close my position on a short term dip..

2017-07-30 06:31:20 Patryn
3% freefall

2017-07-30 12:27:13 Patryn
My understanding is that bitmex won't be providing bcc to those with btc on the platform. So our BTC becomes BCS only. BCC is currently trading at 12% the value of BTC, so we are expected, in a perfect market, to see a 12% drop in two days.

2017-07-30 18:02:38 Patryn
Yeah i'm not liking this random wave.

2017-07-30 18:02:49 Patryn
Lot of people also have their coins off exchanges now, waiting.

2017-07-30 18:02:57 Patryn
No volume on stamp or bfx

2017-07-30 18:04:22 Patryn
Nice premium im an hour

2017-07-30 18:06:23 Patryn
No volume or depth. Stamp can be moved $10 with a couple of coins

2017-07-30 18:06:32 Patryn
and just was

2017-07-31 01:08:43 Patryn
Under 3% for two months. Not too crazy. Usually a positive premium tho

2017-07-31 01:09:42 Patryn
Bitmex isn't giving us BCC, and BCC is trading at 12% bitcoin value on other futures exchanges, so it makes sense that most of us expect a price drop of the core chain.

2017-07-31 01:10:31 Patryn
With some conspiracy thinking thrown in: The BCC split is already priced in, and we're about to see an epic short squeeze.

2017-07-31 01:12:04 Patryn
On BitMex, our xbt does not contain BCC (won't be given to us). I'm thinking priced in on individual exchanges, not globally.

2017-07-31 01:12:26 Patryn
Is kraken actually trading at a $60 premium though? Keep in mind that kraken takes 10-15 minutes to process a market order during movement like todays. I wonder if you can actually sell for that premium.

2017-07-31 01:13:30 Patryn
Rado: No, check reddit. Literally hundreds of client complaints, people losing money left and right over this.

2017-07-31 01:13:44 Patryn
arbee: Good point, plus arb would make it difficult as exchanges are still relatively close to each other globally.

2017-07-31 01:15:02 Patryn
BCC is trading $325 on okcoin, etc. Shitcoin or not, a 12% bonus is a 12% bonus.

2017-07-31 01:15:33 Patryn
Once the fork is complete, i'll move my coins back here.

2017-07-31 01:16:26 Patryn
Problem is now with substantially fewer coins on the exchange, my leverage is much higher than i'm used to. At risk of pretty serious rekt... assuming i'm not the only one. We might see some fun liquidations soon.

2017-07-31 11:41:13 Patryn
okex is a great place to trade BCC Futures now. Trading at around 12% btc value right now

2017-07-31 11:42:42 Patryn
OKEX stopped deposits and withdrawals for three days.

2017-07-31 11:44:36 Patryn
elmorte: Click on "spot" when you login to OKEX.com. THey just stopped it, but you were able to trade BCC against BTC.

2017-07-31 11:44:48 Patryn
And until it stopped, it was trading at 12%+ BTC value.

2017-07-31 11:45:23 Patryn
You were able to split your BTC into BCS and BCC on the exchange, then trade them against each other.

2017-07-31 11:47:53 Patryn
What i'm confused about is the value, and exchanges stance. The market has already pegged a value of 12%+ for BCC, or $330. Those with coins on exchange like bitmex will not get the BCC, so we have to either consider that the price of BTC here will drop by 12% and we should all be short, or it's already priced in and we're missing out on 12% free money.

2017-07-31 11:50:10 Patryn
Bitmex seemed quite clear that it won't. "prolly in a few months" isn't the best basis for a financial decision. If many in the community are correct about it being a useless shitcoin, the 12% could be 1% by then.

2017-07-31 11:51:22 Patryn
Not saying you're wrong about them changing their minds in a few months amid outcry of dissatisfied clients, just saying it could be too late.

2017-07-31 11:55:27 Patryn
Skitrx: Why idiots? It's a great way to get free BCC if you're holding fiat.

2017-07-31 11:56:12 Patryn
Skitrx: The majority of these people have very high margin, 3000+ won't be a problem.

2017-07-31 11:56:14 Patryn
Buy coins using fiat, margin short on BFX

2017-07-31 11:56:26 Patryn
They're able to short at 1:1

2017-07-31 11:56:33 Patryn
Lock in value of USD, get free BCC.

2017-07-31 11:57:23 Patryn
You wouldn't get much more if the price per bitcoin dropped, the short hedges your USD.

2017-07-31 11:58:18 Patryn
stems: Say you have 100k USD sitting around in fiat, waiting for the bitcoin debacle to end as you have no idea where the price will go. Instead, you purchase 100k USD worth of coins on bitfinex at spot. Then you do a margin short position for the exact same number of coins.

2017-07-31 11:58:43 Patryn
You lock in your coins value at $100k, no price movement will change your value due to the short position. However, bitfinex will give you free BCC.

2017-07-31 11:59:15 Patryn
Binbbongfly: They have confirmed that they will.

2017-07-31 11:59:54 Patryn
bingbongfly: Your quote does not refute my statement. Stating that the amount may not be 1:1 is not the same as saying that they will not be distributing the coins.

2017-07-31 12:00:09 Patryn
No, you will not get 0

2017-07-31 12:00:44 Patryn
The probability of 0 is negligable. I'd say a larger risk is counterparty, due to BFX being BFX. As such, i did the same but borrowed some BTC and took most of mine off chain. I've got a $3800 liquidation price.

2017-07-31 12:01:49 Patryn
stems: My shorts in BFX insure my fiat, so i'm not really concerned about the price. If you're asking about my entry for liquidation purposes, it's $2703 entry.

2017-07-31 12:02:21 Patryn
I'm paying a pretty high swap rate to borrow those bitcoins, 0.3% per day, but that'll only be for another dayish.

2017-07-31 12:03:11 Patryn
Slightly_Favored: We'd have to spike by nearly 40% in a day for me to get liquidated, then crash back down for that to matter. Not really concerned.

2017-07-31 12:03:38 Patryn
The ratio isn't about longs:shorts, we are currently estimating 80%, not 30%

2017-07-31 12:04:33 Patryn
If you margin short on BFX, you lock in your USD value.

2017-07-31 12:04:50 Patryn
I'm describing a strategy being used by those holding fiat to get free BCC on BFX. This isn't a crypto to crypto trading strategy.

2017-07-31 12:08:37 Patryn
arbee: "Note that if there's 60% the longs compared to shorts, that does not mean that you're getting 60% the BCH. You need to figure out the net liability of the system. f you need 20k BCH from the system to pay the shorters, and there's 100k btc on bitfinex then the you'll be getting 8 BCH on 10 BTC. So what matters is the net shorts vs longs in nominal terms, not the ratio."

2017-07-31 12:09:02 Patryn
Current estimate is 80%.

2017-07-31 12:09:20 Patryn
Keep in mind, my strategy is free BCC vs holding fiat. This strategy will give you more risk-free money than holding fiat.

2017-07-31 12:10:34 Patryn
A lot of people are holding fiat, waiting for the dust to settle. Uncertainly of the split, possible devaluation due to current futures value of BCC, plenty of reason. You've made a decision to enter a trade, others are holding on the sidelines waiting. This strategy will give them superior gains to holding fiat.

2017-07-31 12:15:06 Patryn
Looks like bcc is down to 9.5% on viaBTC.

2017-07-31 12:16:10 Patryn
elozar: Seems like viabtc/okex were a great deal, then. Will be interesting to see what happened.

2017-07-31 12:16:14 Patryn
*happens

2017-07-31 12:16:54 Patryn
I could wait the day or two of coin lockup for that much of a free money bonus.

2017-07-31 12:17:03 Patryn
Unlikely to increase my stash by 12% by trading during those two days.

2017-07-31 12:17:29 Patryn
aron: The strategy involves a margin short, it still works perfectly if BTC crashes tomorrow. In fact, it works better if BTC crashes tomorrow, otherwise you'd be better off without the short.

2017-07-31 12:18:12 Patryn
viaBTC and okex were the larger exchanges offering BCC futures. OKEX has stopped it today.

2017-07-31 12:18:45 Patryn
arbee: Not ignoring you. Don't have access to the link right now, looking while trying to manage a few close-to-liquidation trades.

2017-07-31 12:19:30 Patryn
arbee: Closed the tab before you asked for it. Usually work with a dozen tabs open, constantly opening/closing.

2017-07-31 12:21:16 Patryn
aron: Not sure. Most exchanges seem to have halted, or are in the process of halting deposits as we speak.

2017-07-31 13:48:32 Patryn
Margin spot exchange there, this is a futures platform

2017-08-01 01:41:08 Patryn
They claimed their position.

2017-08-01 01:42:00 Patryn
Looks like we're closer to 1:1 BCC distribution on BFX now.

2017-08-01 11:31:19 Patryn
a real trader would consider trading to be going to work

2017-08-02 03:16:40 Patryn
arbee: Quarterly is still at a discount, mex is definitely not bullish. There's a $10 premium coming in 43 minutes, hence the $10 premium on swap.

2017-08-02 13:56:48 Patryn
Well this is cool. Received 0% of my coins on BFX as bcash

2017-08-02 13:56:56 Patryn
hmmmYea: It is a thing, on okex etc.

2017-08-02 13:57:35 Patryn
Bitmex isn't supporting bcash. Why would they allow bcash futures when they won't even credit our bcash coins?

2017-08-02 13:58:20 Patryn
You not understanding != my statement not making sense.

2017-08-02 13:58:28 Patryn
Creating a new trading pair, maintaining and implementing it, takes more work.

2017-08-02 13:59:13 Patryn
Your welcome. As an exchange founder who is crediting bcash, I have a bit of insight.

2017-08-02 13:59:21 Patryn
*You're

2017-08-02 13:59:54 Patryn
We're crediting and allowing withdrawals of bcash today. Not allowing trading anytime soon, much bigger can of worms.

2017-08-02 14:01:01 Patryn
Do you honestly DGAF now that the conversation isn't going your way, or am I expected to continue now that you're posting post-DGAF follow ups? You're a waste of time.

2017-08-02 14:01:06 Patryn
bullwhale: Quadriga

2017-08-02 14:01:47 Patryn
viaBTC seems to be accepting BCH deposits, but the number of confirmations required could take a day or two.

2017-08-02 14:02:03 Patryn
MrRGnome: Scroll up. I said that I am the founder of Quadriga, not that I "Work for" Them.

2017-08-02 14:02:59 Patryn
I Take pride in the 75% market share and $1M per month of revenue.

2017-08-02 14:03:18 Patryn
Support could use some improvement, as is the case with most exchanges.

2017-08-02 14:07:38 Patryn
hmmmyea: I believe that most exchanges will be listing it shortly due to demand. Everyone has it and now wants to trade it.

2017-08-02 14:09:28 Patryn
The spike today shows quite a few buyers.

2017-08-02 14:10:02 Patryn
arbee: Yes. I waited until the first bcash block was mined, safe now.

2017-08-02 14:10:46 Patryn
Looks like bcash up to 0.26. Was at 0.08 last night.

2017-08-02 14:12:06 Patryn
I turned fiat into a margin short on bfx. Got no bcash. Gotta love when exchange owners change their minds about crediting funds AFTER THE FACT and make those changes retroactive.

2017-08-02 14:14:59 Patryn
arbee: It was a small short, around 200 coins. Was much larger here.

2017-08-02 14:15:30 Patryn
I'm glad that I didn't have 1:1 collateral for it. At least I got bcash for the coins I withdrew.

2017-08-02 14:17:42 Patryn
arbee: A guy "claimed" like a 20k coin short. Compared to people like that, yeah, i'm small potatoes.

2017-08-02 14:22:24 Patryn
arbee: I'm not sure if he was forced to claim it, or if it was voluntary. I wasn't given an option or any contact regarding it, but again, comparatively small potatoes.

2017-08-02 14:23:34 Patryn
I bought some coins on BFX and placed margin short with around 1:2.5 leverage. Before the split. The coins which I had on the platform which were being used as collateral should have received the bcash... they did not.

2017-08-02 14:24:00 Patryn
I turned some fiat into 200 bitcoins, then tried to short those 200 bitcoins on BFX.

2017-08-02 14:24:29 Patryn
If it was a 1:1 margin ratio, i can understand some argument for possible manipulation. However, I was max leveraged, could have theoretically been liquidated. Took that risk, no upside.

2017-08-02 14:25:39 Patryn
I exited my bfx short hours after the first bcash block was mined. Entered the position over 24h before the fork.

2017-08-02 14:25:56 Patryn
My short position was insurance against my fiat balance, so the price didn't really matter when I was closing.

2017-08-02 14:26:08 Patryn
*didn't matter to me

2017-08-02 14:26:36 Patryn
No, my coins are still there.

2017-08-02 14:27:20 Patryn
arbee: I would have done the same, but I decided that their official statement and official posts from drew could be considered trustworthy

2017-08-02 14:27:40 Patryn
Stupid decision on my part. I'll have Stu contacted if I don't get my BCC soon.

2017-08-02 14:47:31 Patryn
Sept premium finally disappering.

2017-08-02 14:47:40 Patryn
Sept *discount

2017-08-02 14:51:28 Patryn
Bunch of people in this trollbox and on reddit.

2017-08-02 14:52:35 Patryn
I was bashed for a good 20m for deciding to take my coins off this platform for free bcash, in the trollbox. Now i have an extra six figures worth of coin while many are begging bmex for their "worthless" bcc. Hopefully it's still worth something by the time i can deposit and sell it somewhere.

2017-08-02 14:53:32 Patryn
Seems to already be #3 for trading volume, despite deposits not being viable on any platform.

2017-08-02 14:54:44 Patryn
A expect a ton of selling pressure at that time. We'll see how the buying side looks.

2017-08-02 14:55:36 Patryn
I usually trade 5-10x here. I was up to 25x, and $13 away from a seven figure liquidation during the deposit/withdrawal suspension. I think I aged five years during that day.

2017-08-02 14:56:13 Patryn
The price actually crossed my liquidation point a few minutes after deposits were re-enabled and mine went through. Was able to add margin just in time.

2017-08-02 14:57:08 Patryn
Worst part is that it was on sept quarterly, so the discount turning into a premium could have liquidated me, instead of an actual spot move.

2017-08-02 14:57:31 Patryn
Back to 5x now, slept soundly last night. Whew.

2017-08-02 23:11:17 Patryn
Yep, waiting for exchanges to allow deposits.

2017-08-02 23:12:18 Patryn
Numerous reports of delayed btc withdrawals and so forth, rather wait for an exchange i'm more familiar with to accept it. Plus, with the number of confirmations they require, it could take a couple of days.

2017-08-04 07:25:14 Patryn
Confirmation times seem to have decreased substantially with BCC. Took just a few minutes for me to get two confirmations.

2017-08-04 07:27:39 Patryn
Slightly_Favored: It is. And there's a large price spread between exchanges. I'm basically locking in the price by shorting on BFX while I wait for the bazillion confirmations needed on via and rex.

2017-08-04 07:28:44 Patryn
Hmm. rex needs 20, why did I think the same for via. Thanks for the heads up

2017-08-04 07:31:02 Patryn
hitbtc requires 2, but the price there is substantially lower.

2017-08-04 15:08:58 Patryn
You can short bcc on bfx

2017-08-04 15:14:18 Patryn
Ahhere: Yep. I've made quite a bit, shorting from this morning. For the most part, it's useful as a hedge while waiting for confirmations.

2017-08-04 15:14:48 Patryn
BFX wants something like 20 confirmations for BCC deposits. You can simply short BCH using XBT as margin, then claim once your deposit confirms.

2017-08-04 15:15:16 Patryn
Arbee: Still 20. I'm now at 9/20 from my deposit last night

2017-08-04 15:15:25 Patryn
hitbtc requires 2.

2017-08-04 15:16:08 Patryn
Made over 30% shorting from this morning.

2017-08-04 15:16:36 Patryn
Finex.

2017-08-04 15:16:48 Patryn
Waiting for my bcc deposits to clear

2017-08-04 15:18:20 Patryn
15

2017-08-04 15:19:18 Patryn
arbee: Finex also doesn't seem to list it. however, once you deposit, you see that circle counter which states 0/15 confirmations.

2017-08-04 15:19:54 Patryn
I'll be paying around 0.25% interest for the day while waiting for confirmations. So far, that hedge has saved me 30%

2017-08-04 15:21:44 Patryn
Nice rate.

2017-08-04 19:21:13 Patryn
lol. 100x? 50x?

2017-08-04 19:24:27 Patryn
Price is down less than 1%...

2017-08-04 19:26:29 Patryn
I think we play in very different leverage sandboxes. My hair would turn grey if I had to deal with bitcoin volatility with 25-50x leverage.

2017-08-04 19:28:06 Patryn
I trade with lower leverage.

2017-08-04 19:28:24 Patryn
Your game is more exciting.

2017-08-04 19:36:47 Patryn
valanity: Usually 5-10x

2017-08-04 19:37:46 Patryn
Sleep better with lower leverage. I can't count the number of times I was awoken by a price alert last year.

2017-08-04 19:38:17 Patryn
A 10% movement while I sleep isn't incredibly uncommon.

2017-08-10 14:40:00 Patryn
No...

2017-08-10 14:40:23 Patryn
You would need triggers, I don't believe that feature is available through the web interface.

2017-08-10 14:42:32 Patryn
Self-fulfilling prophecy, not the first time we've had that with goldman sachs predictions of crypto

2017-08-10 14:43:38 Patryn
Premium disappearing again, looks like sentiment is beariish

2017-08-10 14:53:00 Patryn
Quarterly premium still well under 1%. Hmm.

2017-08-10 14:57:00 Patryn
I'm pretty heavily short.

2017-09-09 12:16:47 Patryn
Hmm. Orders placed on XBTU17 don't seem to show up in the order book.

2017-09-09 12:17:00 Patryn
PLaced and cancelled a couple of bids, refreshes and the like.

2017-09-09 12:18:32 Patryn
Seems like it was lag, that was one hell of a spike. All good now

2017-09-09 12:20:04 Patryn
I'm just moving my hedges over from quarterly to perpetual

2017-09-09 12:20:17 Patryn
PRice action choppy, i don't see a clear direction right now.

2017-09-09 12:26:16 Patryn
want another 125k?

2017-09-09 12:27:15 Patryn
lol

2017-10-23 02:58:35 Patryn
Wow, look at that quarterly premium

2017-10-23 03:20:27 Patryn
Wow, lot of liquidations for such a small % drop.

2017-10-23 10:47:45 Patryn
Wow, there we go. Negative premium on quarterly

2017-10-23 10:47:51 Patryn
perpetual is higher

2017-10-23 10:48:25 Patryn
If you're expecting a rise today, looks like a great time to quarterly long

2017-10-23 10:49:32 Patryn
I still have my massive shorts, sitting here thinking about that attractive quarterly long.

2017-10-23 10:49:40 Patryn
Fighting sentiment can be profitable, though I suppose risky.

2017-10-23 10:52:45 Patryn
Banks opening in a couple of hours in the states. If there's a correlation, that should be relevant.

2017-10-23 10:53:46 Patryn
No, they go to the banks and send wires in order to fund their exchange accounts and get bitcoin. NO claims of magic involved.

2017-10-23 10:55:06 Patryn
Bank wires usually are a one day thing for larger banks.

2017-10-23 10:55:16 Patryn
SEPA is usually same day to one day, domestic usually same day

2017-10-23 10:55:47 Patryn
Don't need proof, it's common sense that the average American with disposable income holds it in the bank. If said person decided to purchase bitcoin after Friday afternoon, he would have to wait until two hours from now for the banks to open in order to move fiat for purchase.

2017-10-23 10:56:39 Patryn
Yes, I pulled common sense and facts regarding banking hours out of my ass...

2017-10-23 10:58:10 Patryn
Facts regarding banking hours and where disposable income is held. I did not presume that this would lead to a pump.

2017-10-23 10:59:26 Patryn
bfx usd funding rate dropped from 0.16 to 0.09 during the last few hours.

2017-10-23 11:00:31 Patryn
angelobtc: I'm thinking the same, holding my shorts.

2017-10-23 11:01:27 Patryn
Quarterly sentiment seems to agree. Negative premium looking super attractive to enter a long, will likely do so after a more violent correction. Lets see some larger liquidations.

2017-10-24 03:06:54 Patryn
Every site didn't, the official BTG website and numerous others have had countdown timers.

2017-10-24 03:12:32 Patryn
BFX was at $5543 for a sec. Futures crashed hard during that drop

2017-10-24 03:13:39 Patryn
obviously. i'm going to mortgage my house and yolo 50x

2017-10-28 10:24:31 Patryn
bmex won't be giving out b2x coins. They're currently trading for nearly $900. So in theory, post fork, our quarterly futures should drop by said $900. In an efficient market, of course.

2017-10-28 10:27:09 Patryn
PenDrg0n: Look closelier, lol.

2017-10-28 10:27:15 Patryn
Quarterly futures $5524

2017-10-28 10:27:34 Patryn
Badbets: What do you mean by bullshit?

2017-10-28 10:28:21 Patryn
18 days?

2017-10-28 10:28:53 Patryn
Why $1500? B2X coins are worth around $900 right now.

2017-10-28 10:29:31 Patryn
Badbets: You can currently trade B2x futures on other exchanges such as BitFinex. On these exchanges, you could go long on the core coin, then short here, to lock in a 10% arbitrage profit.

2017-10-28 10:30:18 Patryn
Your reasoning is similar to that of those before BCH, who left their coins here because that "shitcoin" would have no value. I remember those same people crying on trollbox about their "stolen" shitcoin the next day.

2017-10-28 10:31:15 Patryn
I'm assuming that those attempting to profit from the arbirtage spread or expected price gap aren't gambling with 25-50x leverage.

2017-10-28 10:31:26 Patryn
I'm using 5x right now, fairly large positions.

2017-10-28 10:31:45 Patryn
Upon settlement, there should be a clear 10%+ profit.

2017-10-28 10:32:55 Patryn
5868 perpetual, 5941 quarterly

2017-10-28 10:33:14 Patryn
$1.5M and $2.4M respectively. I'm not loving these swap funding fees.

2017-10-28 10:34:44 Patryn
Frog: Short positions, i'm not long at the moment.

2017-10-28 10:35:57 Patryn
@BadBets In theory, the price of index should rise at least somewhat alongside the rise of quarterly futures. If the price were to increase by $600 tomorrow, it would be around 6% higher than current index.

2017-10-28 10:36:09 Patryn
It doesn't have to go up at the same ratio as futures.

2017-10-28 10:36:48 Patryn
Futures will settle at index, which will lock in that arbitrage profit. Until then, there will be a bit of volatility. I Would imagine that if futures here increased by $600 without a rise of index purely due to sentiment, that even more people would be taking advantage of the now nearly 20% spread.

2017-10-28 10:37:22 Patryn
You can trade B2X tokens against XBT on Bitfinex. So yes, same ratio increase as index.

2017-10-28 10:37:54 Patryn
Currently 0.87 bitcoins per B2X coin

2017-10-28 10:38:23 Patryn
bitfinex.com

2017-10-28 10:39:13 Patryn
https://www.bitfinex.com/trading/BT1BTC

2017-10-28 10:40:34 Patryn
I did this with about 50 coins a couple of days ago. Grabbed BC1 tokens on BFX, shorted here. Of course, there wasn't a 4% discount then.

2017-10-28 10:41:14 Patryn
Made around 10% on the split, should make another 10% on the arb.

2017-10-28 10:42:29 Patryn
Sure, but there's no zero involved here.

2017-10-28 10:42:44 Patryn
Pre-sold my B2X tokens, doesn't matter if it becomes a shitcoin.

2017-10-28 10:43:10 Patryn
You're a valuable addition to this trollbox.

2017-10-28 10:43:23 Patryn
Such great key advice, I don't know where I would be without you

2017-10-28 10:43:38 Patryn
Tarnation: Didn't sell all of them, just a few to play this spread.

2017-10-28 10:44:37 Patryn
B2X happens in around 19 days. You can only trade the futures.

2017-10-28 10:45:30 Patryn
Supporting exchanges allow you to split your XBT into BC1 and BC2 on their platform, trade futures for both chains.

2017-10-28 10:45:41 Patryn
Upon settlement, you get the appropriate number of both coins.

2017-10-28 10:45:51 Patryn
or upon fork

2017-10-28 10:46:09 Patryn
No, it only requires that the ratio be similar upon settlement.

2017-10-28 10:46:44 Patryn
They're both. You're trading said IOU's based ont he future price of a nonexistent asset.

2017-10-28 10:46:54 Patryn
Badbets: The ratio

2017-10-28 10:47:57 Patryn
If I buy BC1 at $5000 right now and short at $5700, I would expect a 14% spread upon settlement. Similar to my entry. If there is volatility between now and then changing the ratio, that doesn't really change my plans other than ensuring that I have enough margin to ride it out.

2017-10-28 10:48:23 Patryn
and i'd probably wish I had beek lucky enough to take advantage of that more profitable entry.

2017-10-28 10:48:53 Patryn
Most seem to believe the odds are incredibly low. Why do you believe them to be high?

2017-10-28 10:52:03 Patryn
BFX TOS also seems to infer that it is extremely unlikely that only one chain survives. Seems like the only issue which separates this is the opt-in replay protection.

2017-10-28 11:47:34 Patryn
High risk, high potential return as a contrarian investor. The short premium exists for a reason.

2017-10-28 11:50:32 Patryn
OKEx quarterly futures also tanked

2017-10-28 11:50:37 Patryn
$5296

2017-10-28 11:50:45 Patryn
weekly at $5640

2017-10-28 11:56:50 Patryn
There we go, glad I didn't switch from short to long for funding. Just dropped much more than the %

2017-10-29 16:09:14 Patryn
Anyone else getting almost kraken-like latency issues here?

2017-11-02 05:15:10 Patryn
Traders are giving it such a discount due to where index is coming from. There's a wide disparity between prices right now.

2017-11-02 05:16:00 Patryn
FOMO buying on GDAX, $6988. It's $6836 on BFX.

2017-11-02 05:20:08 Patryn
aaaqwerqwef: No, funding fees would be the issue.

2017-11-02 07:14:29 Patryn
dwarrel: Support upside?

2017-11-02 11:22:12 Patryn
BitMEX_Stefan: Many of us are experiencing problems with exiting trades on your system, please check again.

2017-11-02 11:22:33 Patryn
BitMEX_Stefan: Many of us are experiencing problems with exiting trades on your system, please check again. I just received two gateway timeouts in a row when attempting to exit a position. Your slight lag is actually intense lag which is making your system unusable.

2017-11-02 11:23:02 Patryn
...still can't exit a position or place a trade. Consistent timeouts fro minutes.

2017-11-02 11:23:39 Patryn
Bitmex trading engine starting to remind me of Kraken. Tech issues resulting is our loss of funds. This seems to be happening all the time now.

2017-11-02 11:25:17 Patryn
remember_me: Could start by accepting/recognizing the problem. TElling us that there are no issues when the entire trollbox is complaining about issues isn't cool.

2017-11-02 11:27:01 Patryn
ORder timeout, then both appear, now i can't cancel the other one. Awesome.

2017-11-12 23:25:30 Patryn
Wow, so the current required bitmex bitcoin withdraawl fee is over $60?

2017-11-12 23:26:59 Patryn
@ @GodBleesYou Yep, 0.0112 bitcoins.

2017-12-07 11:22:34 Patryn
Korean market is at $17.5k

2017-12-07 15:19:27 Patryn
Interesting. I have a 280 coin short, 68 coins margin, says 9.5x

2017-12-07 15:29:20 Patryn
Margin "X" seems to be broken. I've got 25% margin, shows 10x

2017-12-07 23:54:41 Patryn
A new lambo still costs nowhere near 10xbt. Weird site, showing prices for used lambos

2017-12-10 03:18:13 Patryn
DarcWynd021: The swaps are taken in BTC from one side and given to the other side. BTC is not bought or sold for it, and this leverage does not come from coins being moved on market. I suggest looking up how futures actually works before giving advice.

2017-12-10 03:23:02 Patryn
lol

2017-12-10 04:05:38 Patryn
xmr crashing, mymonero down with sync issues. People having difficulty selling

2017-12-10 04:08:13 Patryn
system overloaded again :(

2017-12-22 03:20:56 Patryn
Would be cool if I could submit an order. Success is more like 1/30 now

2017-12-22 03:24:14 Patryn
More like $200 jump on spot. A futures jump when the system is overloaded isn't the best indicator.

2017-12-22 03:26:48 Patryn
lol "never short bitcoin" right after a 32% drop

2017-12-22 03:27:17 Patryn
The real lesson is don't short bitcoin with excessive leverage.

2017-12-22 08:34:04 Patryn
March premium has been cut in half

2017-12-22 08:34:06 Patryn
Was 13% a few days ago

2017-12-22 14:34:46 Patryn
CME cirtcuit breakers supposed to kick in at 20%, no?

2017-12-26 04:39:27 Patryn
I wonder when bmex plans on reducing the withdrawal fee. Still looking at $100.

2017-12-26 04:40:12 Patryn
A 0.0065xbt fee is not necessary for reasonable confirmation. It is higher than the fee on any other exchange that I can find.

2017-12-26 04:40:54 Patryn
0.0065xbt isn't $41...

2017-12-26 04:41:34 Patryn
bundabrg: Gotcha. Thanks.

2017-12-26 05:16:29 Patryn
Just opened a short. Expecting a dip or sufficient choppiness from here to close in the short term.

2017-12-28 15:49:58 Patryn
Nice being a moron shorter when the price is trending downwards.