TOURNAMENT RULES & SCHEDULE

8th & 9th of September – Blockchain Centre, Southbank

operator@thebullpit.cash

 

SCHEDULE

 

TIME

 

LOCATION

REGISTRATION OPENS 6pm, 8th BC Event Space
REGISTRATION CLOSES, BRIEFING 7pm, 8th BC Event Space
OPENING BALANCES CHECKED 7:30pm, 8th BC Event Space
TRADING BEGINS 8pm, 8th
BLOCKCHAIN CENTRE LOCKOUT 11pm, 8th
Doors Re-OPEN 7am, 9th
LEADERBOARD UPDATE #1 11am, 9th
DERIVATIVES CRASH COURSE 12pm, 9th BC Event Space
Crypto Forum 2pm, 9th BC Event Space
LEADERBOARD UPDATE #2 4pm, 9th
CLOSING DRINKS 6pm, 9th Satoshi Bar
TRADING CLOSES 8pm, 9th
VERIFICATION COMPLETE 8:30pm, 9th BC Event Space
AWARDS 9pm, 9th BC Event Space

Tournament Guideline

The Bull Pit, while experimental, is designed to make trading a social event, where we can prove our worth as traders, share tips and information, and generally expand the breadth of our knowledge in crypto currency markets. The full rules for this tournament are disclosed below, but this section will explain in plain English the best way to go about taking part in the first Bull Pit.

1.    Exchanges

To successfully participate in this competition, the first thing you need to decide is what exchanges you are going to use for this tournament. You may use up to 3 during the tournament, however you have to decide which ones they are to be before the tournament commences.

Make sure you are verified on all of the exchanges you will use before you turn up to the tournament!

It is advisable to use different types of exchanges to give you the widest possible choice of trading tools. If you don’t know which ones to choose, we recommend the following exchanges for the following applications:

  • Coinjar or ACX.io for Fiat-BTC trades
  • Poloniex for altcoin spot trading
  • BitMEX for derivatives trading

You can contact the operator@thebullpit.cash for more information regarding exchanges.

2.    Trading

When you turn up to the competition, you will have your balances verified. Remember you must have a minimum of 200USD (or equivalent value) of any currency(s) and a maximum of 30,000USD in your exchange balances.

It is up to you how much you want to stake for this tournament. We recommend shifting any funds that you do not want to stake during the tournament into your own wallets, or alternatively, creating new exchange accounts for the tournament.

Please note that if you are creating new accounts, you will have to get them verified to use them, and if you already have your identity verified on the same exchange, they may reject your request. Please leave enough time before the tournament to have verification complete.

3.    House Rules, SLEEP, and Desks

Participants will be allowed to stay in the Blockchain Centre for the duration of the tournament, however, if participants wish to sleep overnight they must leave the venue. Eating, drinking, and smoking are only permitted out at the Satoshi Bar area at the back of the centre.

Please note that the front doors of the building are locked between 11pm and 7am. During this time you will be able to leave but won’t be able to get back in until 7am on Saturday.

Participants may use any desks labeled “HOT DESK” at the centre.

FULL Tournament Rules

General Rules

  • Tournament officials reserve the right to disqualify participants for any reason.
  • Participants are allowed to leave the venue of the tournament at any time, with the exception of the initial registration and verification, and verification at the end of the trading period.
  • Parts of this tournament will be recorded, filmed, and photographed. By participating you agree to the recording and use of any media that includes you, intentional or otherwise.

Scoring

  • Participants will be scored based on their net percentage gains/loss compared to their initial balance. Balances will be calculated in terms of USD. Values of coins will be derived from the prices as they appear on the exchange in which they are held.
  • Any withdrawals or deposits pending at the time of balance checking will be taken into account (ie. A pending deposit will be counted as a part of the total trading balance.) HOWEVER:
  • Any deposits or withdrawals made during the trading period to or from any exchange or wallet, except for those between the 3 exchanges each participant declare at the start of the tournament, will disqualify you from the tournament.
  • Initial balances will be verified by tournament officials at the beginning of the event before trading commences, and final balances after trading closes.
  • Scores displayed at the two leaderboard updates will be user submitted and not verified.
  • Participants must submit their scores at the time of the two leaderboard updates. Failure to do so will automatically grant the participant with a -5% penalty on their final percentage score. This applies to both leaderboard counts.

Times & Verification

  • If a participant makes any trades between verification and the start of trading, they will be automatically disqualified.
  • If a participant makes any trades between the end of trading and final verification, they will be automatically disqualified.

Exchanges & Balances

  • Participants will be able to use up to 3 exchanges of their choosing for the duration of the tournament.
  • Participants must declare their exchanges and show the officials the balances of each of the three exchanges to begin trading, and at the end to verify the final scores.
  • Participants can use a minimum of 200USD and a maximum of 30,000USD as a starting balance across all three exchanges the participant uses.
  • Any exchanges that the tournament officials are not familiar with will be scrutinised. Any exchange that obfuscates trading, deposit, or withdrawal history for the purposes of verification will be disallowed for usage during the tournament, and any use of said exchanges at the tournament will disqualify the offending participant.

If you have any further questions about this tournament, you can email the operator@thebullpit.cash