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You're just adding your speculation, which is just as uninformed as those "talking smack" about lag.
You can pretend it's ok for an exchange to have several minutes of lag under "normal" circumstances. I'll just call it incompetence, which after so many years is inexcusable.
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Yes. I've had them delay up to 16 confirmations before depositing.
The bigger concern is whether they will survive this as a company. They might be bankrupt by end of week.
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Why are you making excuses for their incompetence? Do you work for mtgox?
How many lies before you understand that MTGox is NOT bitcoin. Bitcoin will be here long after mtgox goes bankrupt (ie. next week).
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Fastest way to get money out from MTGOX is to buy bitcoin and then withdraw it immediately to another wallet or exchange and sell it for USD there. Or just hold it in your own wallet as BTC.
I pulled $XX,XXX yesterday from GOX in about 15 minutes that way.
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Stand behind bitcoin. Dump the idiots at GOX. They keep making excuses, but they've had 3 years and millions of dollars to address these problems. They lack skills, expertise and professional management, not servers or bandwidth. That's just excuses from a poorly run business that is seriously damaging bitcoin. Time to walk away from the game card swap site and look for some people with experience. I'd rather give the other exchanges a few months to adapt to higher loads and DDoS than to keep expecting mtgox to get their act together. They are not capable of solving this with the same skills that landed them in this mess in the first place.
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Funny idea though  "CatWallet accepted here" LOL I have three microchipped cats and the visual in my mind was this: Walking up to a cashier with "CatWallet accepted here". "That will be 1.2BTC, Sir, how would you like to pay". "CatWallet p;ease. 1.2 BTC you said? Hm... Do you mind if I split the check?" I pick up my tiger striped cat Diesel and swipe her scruff near the reader: *BLOOP* "There, that's the 1BTC... and" I pick up my black&white cat Lulu and swipe her scruff: *BLOOP*, "....there's the .2BTC. Have a nice day!" |
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Episode 3 was GREAT.
I can't wait for tonight's episode 4.
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I recently visited a HFT shop I was working with in NY. They're a small custom trading house that handles several hundred institutional clients for specilist HFT/algo trading.
5 people. Hundreds of millions. No downtime in four years.
31 people? Half of them are writing press releases and finding excuses.
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But you don't need to fill up these threads with repeated regurgitations of your pointless accusations.
Who made you the forum police? First you call me names, then you want me to go away and stop posting? Am I offending your little eyes? Click Ignore. |
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I've actually managed data centers and have run businesses so don't patronize me like you know me. I've worked with financial services IT for about 18 years now.
"Fine tune the database"? What the hell is this, an MS-Access app?
LOL, now I know you're nothing more than a troll. Anyone with experience in financial services IT would know that databases have a lot of configuration that needs to be messed with. Indexes can be added, tables can be pegged to memory, different table engines can make a difference; but these need data to be analyzed to determine if they will actually help. Are they using stored procs, and if so would recent changes in data usage mean they should be rewritten? You know, I didn't call you names. If you think they can solve architectural scalability problems with fine tuning of a single instance database, you are wrong. Trading Exchanges are not run on single instance databases. That is simply a fact. They are run by thousands upon thousands of distributed systems with multiple tiers of redundancy. Market data and reporting are completely separate from trading engines. Front-end stuff never even comes near the trading engine. Oh, by the way: Fuck you. I only criticized GOX based on the multi-year operations. You're making excuses for a bunch of idiots and making assumptions about people you don't know, based on a few words in a forum. |
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Excuses and more excuses. Meanwhile 10 minutes of lag on your new "50x" scaled system (bullshit).
Has your COO been fired yet?
What am I talking about.... dorm room companies don't have COOs.
Maybe you should consider hiring some people who have done scalable architecture before?
Meanwhile everyone else should consider alternative exchanges and diversify. MTGOX has clearly demonstrated they have no clue, no professionalism, no plan and no operational experience. Their software has clearly reached the limits of scaling and now they're just throwing boxes at the problem (a sure sign of clueless reaction).
Some of the people here actually have a clue about operations and they're calling your BULLSHIT.
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I already have, but I reserve the right to keep whining until everyone else does too.
I want to see GOX close and lose their business because they deserve it. They burnt a lot of people with their antics
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So they should have known a month or two ago what the peak volume last week would have been?
Sure, they should have expected a mad rush of basically everyone who has ever been interested in bitcoins to be hitting their server all at the same time, and maybe they did. Maybe they calculated that since the peak they were going to get at the anointed time was going to be a one time event that they would only need to survive through and that regular usage would be much lower. Maybe they figured they didn't need to spend tons of money for the expected one time event when it would be a waste after that. There's a whole heck of a lot of decisions that have to be made when actually running a business that outsiders would never suspect.
Why not have a little damn patience and give them an hour at least before complaining about it. Heck, they probably needed at least an hour's worth of new data just to have enough information to fine tune the database.
Um, yeah they shoud've known. Any half decent capacity planning would include flash-crash and 10x volume peaks. It would include a contingency plan for halting trading. Do you work for them? They've had 2 years to build a scalable architecture and are still showing signs of extreme amateurism. I've actually managed data centers and have run businesses so don't patronize me like you know me. I've worked with financial services IT for about 18 years now. "Fine tune the database"? What the hell is this, an MS-Access app? you don't build a single stack architecture and expect it to scale. It won't. They have no clue. I have no patience with incompetence and amateurism when $2 billion economy is riding on top of it. |
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Incompetence.
MTGOX could be making transaction fees on billions LEGALLY, all they have to do is not fuck up badly. Yet, they keep fucking up badly.
Totally not worth playing the market manipulation game when your reputation and opportunity for a bigger pie is on the line.
It's not manipulation, they're not smart or capable enough for that.
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I bet the mtgox site was in fact built by web app experts, not trading system experts and it shows.
Here's a hint for you: mtgoxlive and the charts on mtgox are just as "cached" as bitcoinity and they can't handle 100 users.
You think that might be a coincidence? See, even when the mtgox people are implementing stuff that should be "simple", they screw it up.
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Why would you expect them to NOT lag when everyone who is at all interested will be picking this one time to be going to their site. Please have some frakkin sense.
Really? So they didn't increase their scale to at least the peak volume of the last week? Oh wait, they're about 50% of peak and still lagging. Never mind, keep makign excuses, they're laughing all the way to the bank. |
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Why should only the architects (DDoS) benefit from the crash? Mt Gox can't handle the load of EVERYONE (yes, you!) trading at once, the panicked traders are the architects of the DDoS. Anyone with half a brain can conclude that the best option is to be collectively sensible and calm (i.e. dont go batshit crazy selling/buying) - hence the problem. BB. What makes you think they can handle normal load? Face it people: MTGOX has reached the limits of scalability for their shit software. They can't fix it because they have no idea how to fix it. It will only get worse. If they had a board, the COO would be fired yesterday. |
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Here's the funny thing:
Bitcoinity is currently handling more than 11k simultaneous users, streaming charts and tracking lag. Far as I can tell, bitcoinity is not lagging even 1 second. They are lightning fast.
Meanwhile, with a lot fewer users and trades mtgox is basically 10 minutes behind on average
Funny how the charting company is doing better for FREE than the multi-million revenue exchange.
IDIOTS
(bitcoinity you rock!)
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MTGOX just calls trading "DDoS".
They should stay closed. They obviously didn't fix the scalability problems (they can't and won't, ever).
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LOL
Don't trade, the trading engine can't handle trading.
Basically, it's crashed again. 10 minutes lag would be a suspension of trading in any other exchange.
Just stay down MTGOX. Stay down, and give people refunds so they can go use a real exchange, one of the other dozen or so built by capable engineers.
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