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Transcript for 14-10-2017, 13 lines:

09:05:53 punkman: https://www.newyorker.com/news/news-desk/open-talk-of-a-military-coup-unsettles-brazil/amp

09:05:55 assbot: Open Talk of a Military Coup Unsettles Brazil ... ( http://bit.ly/2z7xcLS )

19:46:56 adlai: anyone who likes exchange shenanigans should tune their tradio to BitMEX FM in a little over ten minutes

19:51:22 adlai: if that wasn't clear enough: watch this space 500 seconds from now: https://www.bitmex.com/app/trade/XBTUSD

19:51:23 assbot: BitMEX | Bitcoin Mercantile Exchange ... ( http://bit.ly/2z8fJmx )

19:51:26 adlai: put chart on 1min candles

20:00:30 punkman: what's going on

20:07:54 adlai: eh, it wasn't as impressive this time around

20:08:33 adlai: bitmex swap has "funding" every 8 hours, where longs (or shorts) pay shorts (or longs) a percentage of their open positions, calculated to combat the premium/discount that bitmex had relative to the spot exchanges

20:09:26 adlai: it's capped at 0.375%, and 8 hours ago there was a $125 candle of people closing shorts right after

20:10:48 adlai: this being the one minute candle.

20:16:59 adlai: it's fueled by the beautiful synergy of 100x leverage and the increasing functional illiteracy of each new wave of lusers who think it's just a spot exchange with leverage

20:28:17 punkman: so they open a bunch of shorts just before funding and get paid by the longs?