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Topic
Board Armory
Re: Armory 0.94 is out
by
STRML
on 04/04/2016, 18:42:11 UTC


I get the following on the task bar after closing Armory in all my W7 machines. I started noticing it since 0.93 (or perhaps even the one before that). The notification bubble fades and eventually disappears as expected but the Armory icon lingers and would only disappear with a mouse pointer hover. No biggie really but I guess I was hoping they'd go away in 0.94:

http://i.imgur.com/VNSjkdq.png

I get this message all the time since I started using Armory, about a year ago if I'm not mistaken, with every version released. I only need Chrome + bitcoind + Armory running to top up 2GB of RAM Wink You're most likely low on resources at the exact moment the error occurs. Armory reconnects right after (never seen it take more than a couple of minutes to reconnect).

We can definitely eliminate "low on resources" as the cause. As I indicated on the previous page, it doesn't matter if I run Core/Armory standalone (by themselves) in different and very capable W7 machines (dual, quad and octo core and a Haswell machine with RAMs between 4GB and 16GB), they all get it every time I close Armory. Note that I never got this until around 92.3 or the early iteration of 0.93 (I think - I don't remember exactly which one but thereabouts anyway) and I've been using Armory since 2012.

Anyway, it's not a deal breaker as it never affects Armory's functionality. Nevertheless, it's an interesting quirk of Armory to discuss in here. Grin


This happens via armoryd as well:

Quote
(ERROR) Networking.py:350 - ***Connection to Satoshi client LOST!  Attempting to reconnect...

Looks like Networking simply needs to be told a shutdown is imminent so it doesn't trigger a reconnect.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] FACTOM - Introducing Honesty to Record-Keeping
by
STRML
on 11/03/2016, 14:50:48 UTC
Hey everyone - Sam from BitMEX here.

The 10x Factom market is live: https://www.bitmex.com/app/trade/FCT7D

The contract is traded entirely in Bitcoin (no need to deposit Factom or carry any). Each contract is worth 1 FCT. Specifications: https://www.bitmex.com/app/contract/FCT7D

Hope to see you all around.
Post
Topic
Board Service Announcements
Topic OP
BitMEX's Largest API Update: 10 New Order Types, Bulk/Amending Orders & More
by
STRML
on 15/02/2016, 23:21:53 UTC
Hey Bitcointalk,

We've been quiet lately, because we've been working on one of the biggest updates BitMEX has ever received.

This is a multi-part upgrade; today we're launching the API, but we'll be launching a few new contracts and a reworked order dashboard very soon.

So what's new in this update?

All updates are additions; no breaking changes have been made. In short:

  • 10 new order types, including some very advanced types
  • Bulk ordering
  • Order Amending
  • Bulk amending
  • A new way to manage your leverage, before and while having an open position, and
  • Various performance & stability updates.

Detailed Notes:

  • Order: New endpoint: POST /api/v1/order/bulk.
      (docs)
      Send an array of orders and they will all be validated and executed at the same time. If any of the orders fail to validate, none will execute. To encourage use, bulk orders (and amends) are ratelimited  at ceil(orders.length / 2); for example, placing 2 orders consumes 1 call, and 9 consumes 5 calls.
  • Order: New endpoint: PUT /api/v1/order.
      (docs)
      You may now amend an existing order's price and quantity. This is very useful for market makers who want to save an  API call (cancel/replace) and not lose their position in the book.
  • Order: New endpoint: PUT /api/v1/order/bulk
      (docs)
      You may now amend multiple orders. The same behavior as bulk order placement applies.

New Order Types: (docs)

  • Market: We gave in. For simplicity's sake, we now support Market orders. As always, be careful. Required: orderQty and symbol.
  • Stop: A Stop Market order. Required: orderQty, stopPx, and symbol.
  • MarketWithLeftOverAsLimit: A market order that, after eating through the order book as far as permitted by available margin, will become a limit order. The difference between this type and Market only affects the behavior in thin books. Upon reaching the deepest possible price, if there is quantity left over, a Market order will cancel the remaining quantity. MarketWithLeftOverAsLimit will keep the remaining quantity in the books as a Limit.
  • Trailing Stop: A trailing stop follows the current market price at an offset, enabling a trade to remain open, yet closing if the market changes direction by a certain amount. Send a pegPriceType: 'TrailingStopPeg' and a pegOffsetValue: number. The pegOffsetValue is a price offset. Use a negative pegOffsetValue for sell orders.
  • OCO: One Cancels the Other. A very flexible version of the standard Stop / Take Profit technique. Multiple orders may be linked together using a single clOrdLinkID. Send a contingencyType of OneCancelsTheOther on the orders. The first order that fully or partially executes (or activates for Stop orders) will cancel all other orders with the same clOrdLinkID.
  • OTO: One Triggers the Other. Send a contingencyType of OneTriggersTheOther on the primary order and then subsequent orders with the same clOrdLinkID will be not be triggered until the primary order fully executes.
  • OUOA: One Updates the Other Absolute. Send a contingencyType of OneUpdatesTheOtherAbsolute on the orders. Then as one order has a execution, other orders with the same clOrdLinkID will have their order quantity amended down by the execution quantity.
  • OUOP: One Updates the Other Proportional. Send a contingencyType of OneUpdatesTheOtherProportional on the orders. Then as one order has a execution, other orders with the same clOrdLinkID will have their order quantity reduced proportionally by the fill percentage.

New Order Attributes:

  • Hidden Orders: Send a displayQty, where 0 <= displayQty < orderQty. A displayQty of 0 is a fully hidden order. You may partially hide an order by choosing a non-zero displayQty. When the order is hit, the non-hidden portion will be refilled, up to the order's total quantity. Note that hidden orders incur the Taker fee.
  • Post-Only Orders: Any non-Market order may be made "Post-Only" by sending an execInst of ParticipateDoNotInitiate. This will reject the order if it would execute against the market, ensuring your order receives the Maker rebate. To prevent feeling out Hidden Orders, Post-Only Orders will still execute against Hidden Orders, but you will receive the Maker rebate as Hidden Orders always incur the Taker fee.
  • Time In Force: Valid options: Day, GoodTillCancel, ImmediateOrCancel, FillOrKill. Defaults to GoodTillCancel for Limit and StopLimit orders.
  • Simple Quantities: Send a simpleOrderQty instead of an orderQty to create an order denominated in the underlying currency. Useful for e.g. opening up a position with 1 XBT of exposure without having to calculate how many contracts it is.

Other Changes:

  • WebSockets: Upon subscribing to a topic, a data image is now immediately pushed to the consumer. This means consumers no longer need to orchestrate calls to the HTTP API or use pushAccount/pushSymbol. As a result pushAccount/pushSymbol have been made redundant and are now deprecated. They will be removed in a later release.
  • Position: New endpoint: POST /api/v1/position/leverage. Accepts a symbol and leverage integer.
      This is a very easy way to update a position to isolated(fixed) margining at a given leverage. In the very near future, this will allow users on the website to easily adjust their leverage, even on open positions!
      For example:
     
    • A user deposits 1 XBT of margin.
    • The user opens a cross-margin XBT24H position with a gross value of 2 XBT.
    • The user decides to switch to isolated margin to protect his total account equity, and updates leverage to 50.
    • The system assigns 2 XBT / 50 or 0.04 XBT to the position. The other 0.96 XBT in the user's account is no longer at risk.
    • The user decides to switch to 1x isolated margin. Because the position value is 2 XBT and the user only has 1 XBT in the account, this will error and no change will occur.
    • The user's position loses 0.02 XBT of value, and only 0.02 XBT remains assigned, for an effective leverage of 100x. The user then decides to switch to 10x leverage. The system then assigns 2 XBT / 10 or 0.20 XBT to the position. The user has 0.78 XBT of unassigned margin left.
  • UDF/TradeBin: Indices (.XBT, .BVOL, etc) are now supported via the UDF (TradingView) and /api/v1/tradeBin routes. In the near future, we will officially support overlaying underlying prices on the charts.

-----

The new bulk order calls greatly simplify market making on BitMEX. We have updated our Reference Market Maker to support the latest calls, and as a result has been significantly improved in speed and accuracy.

Much more is on the way. Stay tuned.

As always, catch us in our chat box, on Telegram (we're in the major trading channels), or via email (support@bitmex.com) if you have questions.

Good Luck,

Samuel Reed, CTO, BitMEX
Post
Topic
Board Armory
Re: Moving forward with Armory
by
STRML
on 04/02/2016, 15:33:13 UTC
Just a thought:

Couldn't you just host the releases on Github using the release function? Just tag the releases and then upload the corresponding binaries for that release and tell people to download the binaries from there.

Also, github pages could be utilized to set up a website for the open source project. A project site could be set up using github pages and it would all be hosted by github for free. In announcements text file could be kept there and armory could pull the announcement from there.

If we go with that option, I could help as I have experience with setting up all of that stuff for github, although when it comes to web design and development you will need to get other people to help. Thankfully the github pages thing actually makes making a website there really easy.

That's a good suggestion. I like keeping the releases on github directly, makes my life easier (and everybody else's I suppose?). For the website I have to think about it. Apparently I could get access to armory.org through a friend and ex-Armory employee. It's a valid option to consider.

We at BitMEX would be happy to help with resources and hosting. Please email us at support at bitmex dot com if you would like any help. We have plenty of extra capacity.

As for releases and documentation I heartily recommend doing releases on GitHub itself, and creating a gh-pages branch of the repository (or another repo) for docs/public website. That way we all benefit from open development of the docs site. I find in practice that if the repo is discoverable (e.g. there should be links to the GitHub page all over it), the community will submit PRs regularly. This makes keeping documentation helpful and up to date far easier.

Very sorry to hear how 0.94 went. As a team we're happy to help any way we can. Thank you for taking the lead on getting the work started to create a libre 0.94.
Post
Topic
Board Trading Discussion
Re: What's wrong with Kraken?
by
STRML
on 10/10/2015, 14:56:54 UTC
It's actually pretty common in Forex to charge on intervals shorter than 24 hours. In the bitcoin world, Bitmex charges 0.015% per 8 hours.

FYI, we haven't charged this insurance fee since late July - while we were on free trading in late July through August, we greatly simplified the fee system for when it turned back on in September. We simply do flat trading fees (mostly maker/taker 0/0.05%). We found this to be much easier for everyone to understand and to compare with other platforms.

That said, charging a funding fee makes sense on a margined platform where there is risk of loss, and that's why we did it in the first place. We found in the end that the confusion was not worthwhile, but it's a perfectly legitimate fee structure.
Post
Topic
Board Service Announcements
Re: [ANN] BitMEX - Bitcoin Mercantile Exchange Official Thread
by
STRML
on 28/07/2015, 22:16:02 UTC
Site looks really good ... I like the new UI, and that your contracts are so small ($1 per) ... so when volume picks up it should trade like butter. So discouraging to see you not have any volume right now. I guess that is my hang up here. 796 Exchange has the volume, and I'm comfortable there. I guess mostly Chinese speakers trade on 796, and English speakers don't trade futures yet? Hmmm .... that could change ...

Thanks - volume is improving. We've traded nearly 1k BTC in the last 24hr and momentum is increasing.

While spreads are large, there is significant money to be made market making, and at 0 fees it can be done quite profitably.

We have a reference marketmaker bot on GitHub. It's free to use and can be tested first on our Testnet.

Hope to see you on the exchange.
Post
Topic
Board Service Announcements
Re: [ANN] BitMEX - Bitcoin Mercantile Exchange Official Thread
by
STRML
on 28/07/2015, 20:44:58 UTC
The feedback in the last 24hrs on the Whaleclub Teamspeak, Reddit, Twitter and other channels has been incredible.

We just launched:

0% Fees

All contracts trade with no fees until September. It's the perfect incentive to give BitMEX a try.

25x Leverage

Trade our XBT-series contracts at a whopping 25x leverage! Our industry-leading Dynamic Profit Equalisation (DPE) system ensures safe and transparent risk management.

New, simplified UI

BitMEX's interface, while always powerful, was confusing to new traders just getting started with derivatives. Our new simplified interface is designed to get you right into trading with a minimum of confusion.

http://i.imgur.com/exJsBYm.jpg

As always, contact us any time at info@bitmex.com or on the site chat itself. You can also talk to us live on the Whaleclub Teamspeak channel (ts.whaleclub.co).
Post
Topic
Board Service Announcements
Re: [ANN] BitMEX - Bitcoin Mercantile Exchange Official Thread
by
STRML
on 25/05/2015, 17:00:56 UTC
Today we've launched BVOL7D, the compliment to our recently-released BVOL24H contract.

BVOL24H settles on daily volatility calculated using 288 snaps per-day from Bitfinex (one every five minutes). It settles daily at 12:00 GMT. It can be traded on leverage and is very volatile. Settlement prices in the last two weeks have ranged from 4.13 to 0.95.

BVOL7D is similar to BVOL24H but settles on 2016 snaps (288 per day * 7 days) every Friday at 12:00 GMT. It is useful for hedging volatility and is more gentle than BVOL24H. Backfill of the last few weeks shows settlements ranging from 7.60 to 3.34.

Both of these contracts are a lot of fun to trade even in a sideways market and are a hedger-friendly alternative to binary options. With leverage, it is possible to quadruple your money if volatility takes a sudden turn intraday.

Fees on BVOL24H are our lowest-ever: 0% Maker / 0.03% Taker. BVOL7D is very reasonable at 0% Maker / 0.10% Taker.

Feel free to talk to us in chat or on the Whaleclub Teamspeak if you have questions about these contracts.
Post
Topic
Board Armory
Re: Armory - Discussion Thread
by
STRML
on 25/05/2015, 16:53:13 UTC
Anything to be done about armoryd's crazy memory usage? I'm seeing 41GB virt and about 6GB residual. It's causing other processes to start swapping. It is done scanning blocks, this is persistent memory usage. In comparison, bitcoind only uses about 55MB residual.

Restarting the process causes the memory to go down, but then armoryd starts eating up CPU and filling up again. It continually is using the lion's share of resources on the system.

When a program (such as Armory) reads a file, the file is copied into memory.  As soon as Armory is done using the file, the memory is marked as available for other programs, but until another program claims the memory, you still see it as assigned to Armory because the kernel assumes that there is a chance that Armory will open that file again, and Armory's data is still there.

All modern operating systems do this, so it always look like there is very little RAM free.  I do not know about Windows, but on Linux the kernel still keeps track of that memory after Armory quits, in case some other program happens to want the same file.  As soon as the memory is needed for something else, it is wiped and assigned to that something else.


I don't think this is exactly true in Armory's case. We have attempted to jail Armory using cgroups but during database rebuilds it fails if the memory restrictions are too stringent (<2GB in my testing). Additionally, if there is swap on the system, it appears the system will use the swap before asking Armory to relinquish any of its used memory, causing other processes on the system to hang waiting for I/O.
Post
Topic
Board Armory
Re: Armory - Discussion Thread
by
STRML
on 07/04/2015, 01:56:28 UTC
Anything to be done about armoryd's crazy memory usage? I'm seeing 41GB virt and about 6GB residual. It's causing other processes to start swapping. It is done scanning blocks, this is persistent memory usage. In comparison, bitcoind only uses about 55MB residual.

Restarting the process causes the memory to go down, but then armoryd starts eating up CPU and filling up again. It continually is using the lion's share of resources on the system.
Post
Topic
Board Service Announcements
Re: [ANN] BitMEX - Bitcoin Mercantile Exchange Official Thread
by
STRML
on 11/02/2015, 08:55:43 UTC
At this time, the Hedger and Insurance fees will remain as-is. They are set as necessary to ensure that the exchange can continue to run and pay its bills.

BitMEX already offers contracts available on no other exchange (such as BVOL), and the gap will widen in the coming months.

Not all contracts are subject to our Trader/Hedger scheme; we are investigating the addition of faster-moving contracts that fill the needs of day traders and short-term hedgers, such as those hedging blockchain confirmations.

To that end, a few days ago we launched XBU24H. This is an inverse futures contract, which means it is always worth $1 of Bitcoin. It is very similar to our other XBU contracts, but is settled daily.

Our current Trader/Hedger scheme is not appropriate for a short term contract such as XBU24H so we have moved to an even more generous scheme: 0% maker, 0.03% taker, no insurance fees. See our XBU24H Fees Reference for more details.
Post
Topic
Board Armory
Re: Armory 0.93 testing release! (with 0.05 BTC bug bounty)
by
STRML
on 30/01/2015, 13:43:51 UTC
With HEAD on the 0.93-bugfix branch, we an interesting error in a TXSIGCOLLECT generated by armoryd. If there was a change output, the change output was an old-style multisig script, rather than the new p2sh style. For example, this testnet transaction, and its decomposition:

Code:
python armoryd.py --testnet createlockboxustxtoaddress msj42CCGruhRsFrGATiUuh25dtxYtnpbTx 0.00001
=====TXSIGCOLLECT-7wVXpYd2======================================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================================================================

...
  'outputs': [ { 'addrstr': '',
                 'authdata': '',
                 'authmethod': 'NONE',
                 'contribid': '',
                 'contriblabel': '',
                 'hasaddrstr': False,
                 'ismultisig': True,
                 'isp2sh': False,
                 'magicbytes': '0b110907',
                 'p2shscript': '',
                 'scripttypeint': 3,
                 'scripttypestr': 'Multi-Signature',
                 'txoutscript': '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',
                 'txoutvalue': 639989000,
                 'version': 1,
                 'wltlocator': ''},
               { 'addrstr': 'msj42CCGruhRsFrGATiUuh25dtxYtnpbTx',
                 'authdata': '',
                 'authmethod': 'NONE',
                 'contribid': '',
                 'contriblabel': '',
                 'hasaddrstr': True,
                 'ismultisig': False,
                 'isp2sh': False,
                 'magicbytes': '0b110907',
                 'p2shscript': '',
                 'scripttypeint': 0,
                 'scripttypestr': 'Standard (PKH)',
                 'txoutscript': '76a91485eb47fe98f349065d6f044e27a4ac541af79ee288ac',
                 'txoutvalue': 1000,
                 'version': 1,
                 'wltlocator': ''}],

...

Transaction summary:

   UnsignedTx ID:  G2EhcNgd
   Curr TxID    :  348a4c33feaafb73076cd070bcc57b6f0049584883af00925ff5192b236030df
   Version      :  1
   Lock Time    :  0
   Fee (BTC)    :  0.0001
   #Inputs      :  1
      1c5ecc26:1 / Multi-Signature* / (M=3, N=4) /   6.40000000 / PubSz: (65 65 65 65)
   #Outputs     :  2
      Recip: [Multisig 3-of-4] (not P2SH but would be 2NBMEXDBRPPeu3SGBV1bw79JycNnz4dwR19)         6.39989    BTC
      Recip: msj42CCGruhRsFrGATiUuh25dtxYtnpbTx          0.00001    BTC
   Tx has 1 inputs:
       (3-of-4) AllSigned: False  AllSlots: _ _ _ _   ReqSorted: _ _ _



This patch fixes the problem and the change output is properly created as a p2sh script.

Code:
diff --git a/armoryd.py b/armoryd.py
index e8052f1..185a4a5 100644
--- a/armoryd.py
+++ b/armoryd.py
@@ -1962,7 +1962,7 @@ class Armory_Json_Rpc_Server(jsonrpc.JSONRPC):
                                              self.convLBDictToList())
             outputPairs.append( [ustxScr['Script'], totalChange] )
          else:
-            outputPairs.append( [lbox.binScript, totalChange] )
+            outputPairs.append( [script_to_p2sh_script(lbox.binScript), totalChange] )
       random.shuffle(outputPairs)
 
       # If this has nothing to do with lockboxes, we need to make sure
Post
Topic
Board Service Announcements
Re: [ANN] BitMEX - Bitcoin Mercantile Exchange Official Thread
by
STRML
on 11/12/2014, 17:40:38 UTC
New Switchable Fee Preferences


BitMEX has been listening to your feedback, and we are pleased to be the first Bitcoin exchange to offer a two-tier trading fee schedule! This new customization enables BitMEX to meet a wider variety of traders’ needs.

The types available are:

Trader

Some traders want to make fast trades for low fees, react to market movements quickly, and predict trends. For the active trader, BitMEX offers the Trader fee schedule. This fee schedule combines extremely low individual trade fees (0.005%) with a low insurance fee charged at the end of each session to cover margin risk. This is the default choice when creating a new BitMEX account.

Flat Trading Fee: 0.005% (0.5 basis points)
Insurance Fee: 0.015% (1.5 basis points) per 8-hour trading session

Hedger

The Hedger fee schedule is more traditional for Bitcoin exchanges. It is tailored toward hedgers, arbitrageurs, and those who want to invest long-term without capital loss. This fee schedule is Maker/Taker and has higher trading fees than the Trader schedule, but has no recurring insurance costs. Contracts held under this fee schedule retain their full value until expiration.

If you are hedging Bitcoin liabilities for the duration of a contract’s lifetime, this fee schedule may be more favorable than the Trader schedule.

Maker Trading Fee: 0.25% (25 basis points)
Taker Trading Fee: 0.50% (50 basis points)

Choosing a Structure

Traders may choose which fee structure to apply to their account on the My Account page when logged in. You may only change your fee preferences when all your outstanding positions are zero.

As always, BitMEX stands behind all contracts, with absolutely no profit clawbacks.
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Topic
Board Service Announcements
Re: [ANN] BitMEX - Bitcoin Mercantile Exchange Official Thread
by
STRML
on 28/11/2014, 15:26:51 UTC
We have been listening to your feedback about BitMEX. The general mood has been very positive, but many questioned our trading fee of 0.5% per trade. In a landscape now dominated by Chinese exchanges, 0.5% is too much. BitMEX is a premium product and its futures not subject to the same caveats as those traded on the Chinese exchanges, but that is not enough for most to get past the sticker shock.

BitMEX has unique strengths in this market, the largest of which being our team's financial experience. That team was able to build an unrivaled trading engine with speed and features not seen on any other exchange. We want to leverage that strength.

Effective immediately, trading fees have been reduced 100x from 0.50% to 0.005%. This is one of the lowest in the business.

BitMEX will now be charging an insurance fee on open positions of 0.015% per trading session. This fee offsets the risks taken on by BitMEX by guaranteeing settlements. In the case of trader bankruptcy, BitMEX covers all losses and will not charge traders for the bankruptcy of other traders. BitMEX is the only derivatives exchange that offers this.

If you are interested in using doing automated trading on BitMEX, please see our REST and API documentation. We also offer a reference Market Making Bot written in Python that works with both Access Tokens and permanent API keys.

We are working on a unified SDK that will add tooling for most major programming languages.

Please keep your comments coming. We are excited to show the Bitcoin community what BitMEX can offer it.

Happy Black Friday everyone.
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Topic
Board Service Announcements
Re: [ANN] BitMEX - Bitcoin Mercantile Exchange Official Thread
by
STRML
on 26/11/2014, 09:08:16 UTC
Thanks to everyone who has traded so far! We have just surpassed 100,000 contracts traded.

We have a lot more announcements on the way.
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Topic
Board Service Announcements
Re: [ANN] BitMEX - Bitcoin Mercantile Exchange Official Thread
by
STRML
on 24/11/2014, 12:01:01 UTC
It is 12:00 GMT and we are live! Come join us at https://www.bitmex.com.
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Topic
Board Service Announcements
Re: BitMEX - Bitcoin Mercantile Exchange Official Thread
by
STRML
on 23/11/2014, 18:54:08 UTC
To introduce myself: I am Samuel Reed, CTO of BitMEX. This has been a long time coming! We have been working on BitMEX for over a year now, most of us full-time. We know that solid derivatives trading has been sorely lacking from the Bitcoin ecosystem since its inception. Our aim is to provide the most available, most usable, most programmable derivatives exchange for cryptocurrencies, with a frontend built for traders so they can have the maximum amount of control and data available. We are also the only exchange that allows you to hedge your Bitcoin without any risk of haircuts or "socialized losses" that can make hedging impossible.

My central focus is the developer API and the frontend. I am happy to answer any questions you have about how to use the API, the site, to handle bugs and feature requests, and answer any other technical questions.

We have a GitHub issue tracker as well as a support site linked on the page. You can also always reach me here, on the site chat, or on my email (sam[at]bitmex.com). Our organizational profile also has a few API connectors and a market making bot that is free to use and customize.

We launch tomorrow at 12 GMT, in about 17 hours. In the meantime, if you want to see what we have in store, check our our testnet, deposit some testnet coins, and place some orders.

We will be releasing materials in the near future explaining how to use futures to hedge and speculate in interesting ways not possible on other exchanges. CoinRepublic did a great video about a month back with our CEO, Arthur Hayes, about how to use BitMEX to hedge arbitrage trading so you can cover yourself during the 3+ days it can take to move fiat between exchanges. The same is possible for mining operations, or any situation where you might need to hold Bitcoin and insure its value.

We're very excited about what the future will bring for the Bitcoin ecosystem and for BitMEX. In the coming months, we will be offering new products not available at any other exchange.