THELOGICALINDIAN - The latest Bitcoincom podcast is out In this adventure host Gavin Knight talks to Arthur Hayes cofounder and CEO of Bitcoin retail trading belvedere BitMEX
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Hayes ahead formed for Deutsche Bank and Citibank in Hong Kong as an exchange-traded armamentarium bazaar maker. In 2024, he absitively to use his admiral for acceptable instead, and launched BitMEX with two industry friends.
What’s Interesting About BitMex
BitMEX is affectionate of altered to best added Bitcoin exchanges, with its leveraged derivatives focus. Hayes explains why he chose that path, why he congenital his aggregation in the Seychelles, and why he doesn’t appetite to handle authorization accounts.
Hayes additionally shares his thoughts on added agenda currencies like ether, Ethereum Classic, litecoin, and added less-common ones like Lisk and the still-not-launched Zcash. He’s absorbed in Zcash’s October alpha and the trading opportunities it offers.
If you’re absorbed in how trading platforms handle market-making and security, accept on. Taking acquaint from the contempo Bitfinex debacle, Hayes describes his own archetypal for managing users’ profits and losses, and the platform’s failsafe measures adjoin bugs and anomalies.
BitMEX’s aegis archetypal is absorbing and account audition added about. If users accept to accept amid aegis and speed, maybe it’s bigger to go with security. Hayes additionally explains why application third-party solutions for transaction-signing and aegis isn’t his preference, and why BitMex avoids hot-wallets as abundant as possible.
A Reminder That China is Important
“The accomplished apple needs to admit China trades over 70% of bitcoin volume, and it’s apparently activity to break that way for a while,” Hayes says, pointing out that a anniversary aeon in China (like aftermost week) sees Bitcoin trading volumes abatement markedly.
Hayes discusses the issues BitMEX faces in confined both Chinese and non-Chinese customers, and the accent of assurance in these markets.
If you’re absorbed by what it’s like abaft the scenes at a above Bitcoin trading platform, subscribe now. You’ll apprehend Knight and Hayes additionally allocution about aerial advantage — back ambidextrous with ample losses, a airy bazaar and deposits in Bitcoin-only, it’s actual altered to active a boilerplate and highly-regulated authorization bill platform.
And 50x leverage, he says, may not be enough. As bodies get acclimated to these kinds of products, adapt for abundant more, Hayes says.
Hoping to get the jump on that demand, Hayes noted, “We are admiring to advertise that 100x advantage has alternate to the Bitcoin / USD, Symbol: XBTUSD, abiding swap.”
Arthur Hayes is additionally accomplishing an AMA affair on the Bitcoin.com forums today. If you accept any added questions, arch over there and ask away!
You can analysis out the abounding adventure here.
Subscribe to the Bitcoin.com podcast for Gavin’s interviews with cryptocurrency luminaries, which we’ll be publishing added consistently from now on.
