Trading started for real:  327 seconds lag. F-U mtgox. |
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Getting capital funding for hardware, on proven revenues and growth is about the easiest funding pitch in the world.
So what you're saying is that they CEO is as incompetent as their COO?
ok. I agree.
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What you're seeing are Dwolla deposits hitting and triggering a trade. Apparently that still works even when the trading engine is disabled...
Nevertheless, whatever is being "traded", automated, deposit related or not: FIVE TRADES in 10 minutes and the engine is lagging? WTF? |
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Bullshit. It's not manipulation, it's incompetence people are complaining about.
Plenty of knowledgeable people are discussing the very serious failings of MTGOX and their trading engine that are jeopardizing the bitcoin currency because of continued incompetence and mismanagement.
I actually made money during the panic. Yet, I'm complaining because MTGOX represents a systemic risk and people need to be warned away to other exchanges, to diversify.
Not everyone complaining has sour grapes, not everyone complaining is ignorant about the issues. Plenty of us have legitimate comments and legitimate opinions on mtgox's incompetence.
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it is not up yet
Well there are trades in the order book and the price is updating and has changed - up $5 to $131. So it seems open to me. Nevertheless, with fewer than 5 trades, the engine is laggy. Amateur hour (year) at MTGOX |
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These mtgox clowns never learn...
The site is up, the trading has started and the reported lag hit several seconds right away.
Not encouraging, since the volume is barely there.
A properly implemented trading engine should be capable of tens of thousands of trades per second without more than 100ms lag. Thats MILLI-seconds.
MTGOX: We're up, but only as long as nobody actually tries to.. you know TRADE
Remember not to refresh your browser too often, it might be construed as a DDoS.
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I'm just sick of everyone who says MTGOX are idiots being accused of not knowing what they're talking about.
Not all of us are 18 yr old redditors who just found out how to use the web.
If you're including me in the gang of morons you need to reread what I wrote. Absolutely NOT grover. I am referring to Alex from MtGox whose response to criticism (valid) was that those criticizing didn't know what they're talking about and had it easy "on the other side of the keyboard". He treated everyone with criticism as clueless noobs. My point was: I do know what I'm talking about. I've worked on these systems and I posted the picture to show that. I am appalled by the public response, lack of contrition and general incompetence of the mtgox engineers, spokespeople, PR people and owners. I did not mean to offend anyone EXCEPT mtgox and Alex. I very much intend to offend them ;-) |
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They have re-opened but suspended trading and will suspend fees:
From the site banner:
Trading is halted until 2013-04-12 02:00am UTC to allow the market to cooldown following the drop in price. Read more details on the support. Additionally trading fees will not be charged within 48 hours of trading resuming (until 2013-04-14 02:00am UTC).
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I would kill for a good Bitcoin Wordpress shopping solution.
No need to kill. There's one available and it's entirely FREE. Would you like a Woocommerce and bitpay enabled site turned on for you to play with? I'll PM you a URL right away... |
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READY FOR MORE BETA TESTERS!
Things are going well and we have two stores in pre-launch testing.
Who wants a FREE STORE?
The tests indicate that Woo Commerce is the favorite. I have FIVE stores ready to go for beta testers.
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I didn't notice anyone complaining when the price was going up. When the bubble burst, as (almost) everyone knew it would, the blame get's thrown on the exchange.
Yeah, they underestimated capacity. They did not cause the bubble or its inevitable burst.
You didn't notice anyone complaining when there was no lag and you noticed people complaining when the lag reached 1.2 HOURS. Your point? I actually made quite a lot of money yesterday from the crash. Personally, I gained, but did so under tremendous uncertainty and only because I can code more resilient code. My trading app was able to continue to make trades even under tremendous lag and so I made a bit of money. The point here is that mtgox didn't just fail, they failed spectacularly, in a way that was entirely predictable and seriously damaged the market's ability to rebound and adjust. It fed the panic uneccessarily. It will only get worse. You can pretend this is just sour grapes, but for me the grapes were sweet and I still SPIT in mtgox's face. |
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That's me on the left. I'll give you three guesses as to the location and why I was invited to this by the CEO.
JNPR traded on the nasdaq not the NYSE. Why the photo? JNPR also went public in June (on the NASDAQ, not on the big board), not in october. So, I ask again, what is the meaning of the photo? His CEO made him be at NYSE instead of NASDAQ when JNPR went public, to make sure he wouldn't ruin the event. They took the photo and everything to make it look authentic. That's my guess. Maybe my ability to read into what is written is impaired. Where in the post in question did the poster claim Juniper was listed on the NYSE? Is it just me or did the poster claim that the NYSE now runs on a Juniper network? I could have missed something so please let me know. The NYSE network runs on Juniper. That was the day they announced the new NYSE algo trading network built on Juniper. It offers micro-second latency for trading. I'm just sick of everyone who says MTGOX are idiots being accused of not knowing what they're talking about. Not all of us are 18 yr old redditors who just found out how to use the web. |
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How exactly would you scale out any architecture having to quadruple its capacity within less than a month? Including the relevant human resources, not just machinery.
Is that a serious question? Because if it is, then it is the question mtgox did NOT ask of any serious professional. You see, I *CAN* answer the question: How do you plan for 10x, 100x, 1000x scalability. That's what a systems architect for financial trading systems does. It is a very answerable question. The only question is how much money can you spend and how quickly can you hire experts. They've had 2 years and had not anticipated 4x growth? Seriously? A proper capacity plan for something like this would anticipate and accomodate 100x growth not 4x. Business do this stuff ALL THE TIME. I know, I do this kind of data center work for large companies. There is no excuse. It's plain incompetence |
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Gox are incorrigible, don't use them people!
How was that?
Superb. I especially liked the part where you stretched out the word incorrigible so it sounded like "They can take our lives but they can never take our FREEEEEEDDOOOOOM". Definitely the right level of passion for the job. |
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marcus, with respect, you're missing the point.
There are 5-6 other exchanges. They don't have volume, even though they have good-enough or better-than mtgox trading engines and interfaces.
They don't have volume because of the inertia of people giving mtgox a second chance. Then a third, fourth, fifth and sixth chance, even while the fuckups keep getting bigger.
Hissin' and moanin' is what gets newbies to notice that mtgox is associated with a bunch of hissin and moaning and hopefully pick a different exchange to join.
So do some productive moaning too and spread the word: Boycott MTGOX. They're incorrigible.
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Would you close your business if it performs so good ?
Let's close it for them. The exit is that way --> bitfloor, btc-e, intersango, kraken, crypto-trader... many old and new options. |
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You are obviously no ideas of what you are talking about, come and work with us you will see how things are done and what we have to deal with on a daily basis. As I write this we have two concurrent DDoS attack with NO lags and still online. Things always seems easy at the other end of the keyboard.
What the fuck did you just fucking say about me, you little bitch? [...] You're fucking dead, kiddo. BS to the max. Nobody brags about that sort of thing. You are more than likely nothing but a fraud. Hilarious. The response from the Navy Seal probably contained about as much truth as the press release from mtgox. None. |
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C | N > K , as the unix admins at alt.folklore.computers used to say.
"Coffee | Nose > Keyboard"
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It's pretty standard for Bitcoin services. They find themselves growing before they have the infrastructure in place to support that growth. MtGox has had two years to prepare for this, though, so it's pretty unforgivable.
Two years, tons of revenue, funding... They have everything they need to fix this except for the skills and competence. Unforgivable. This is not some little startup that just showed up. This is 80% volume of a $2 billion dollar market, with revenues in the multi-million per year. We need to stop making excuses and accept that mtgox will not fix itself because they dont know how. |
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If they plan [...]
PLAN? You think they PLAN? HAHAHAHAHA! |
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