Bitcoin Unchanged, BitMex Increases Leverage –

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Bitcoin is trading more or less unchanged today, after yesterday’s breakout. On BTC-E we are trading in a tight daily range between $280 and $287 dollars per coin. On OKCoin we saw a similarly tight range between $284 and $292. Prices are currently quoted exactly where we left them yesterday, $283 on BTC-E and $288 on OKCoin. The chart below shows today’s flatness compared to the breakout day preceding it. Futures on OKCoin are trading at $288 for the nearer contract and $299.63 for the far-out September 25th issue.


Starting from Monday BitMex, a provider of bitcoin financial instruments, will start to offer 25:1 leverage on their futures platform, up from 10:1 leverage previously. The announcement posted on the company’s blog showcases how their new Dynamic Profit Equalisation System would work in practice. While BitMex says that there are no socialized losses in the traditional sense, under the new rules:

”Profits are held until settlement or rebalancing of a particular contract. The system loss is calculated, and trader’s profits are adjusted proportionally. Using BitMEX’s state-of-the-art trading engine, BitMEX is able to calculate the projected loss percentage in real-time, giving traders the chance to make trading decisions based on the anticipated systemic loss.”

If I understand this correctly, there will be some type of a clawback but traders will be able to see in real-time what their ”damage” will be come Friday. In our article yesterday we expanded on the potential effect of socialized losses i.e. clawbacks.

Futures contracts on BitMex are quoted at $304 dollars for the XBTU15 contract expiring on September 25th. Liquidity is lower compared to say OKCoin. For

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