Bitcoinica not processing orders?

[Isosceles]

Does anyone else have a problem with Bitcoinica not processing market orders? Mine has been waiting for 9 minutes now

[1714001362]

1714001362

[zhoutong]

Does anyone else have a problem with Bitcoinica not processing market orders? Mine has been waiting for 9 minutes now

Sorry for the problem. Just now someone used API to spam us with tiny orders, and unfortunately our matching algorithm spent a long time processing them.

I have already optimized the code to process orders on user-by-user basis so similar things won't happen again.

Thank you for trading at Bitcoinica!

[Isosceles]

Thanks for getting this fixed so quickly Zhoutong!

[BitPay Business Solutions]

you are probably lucky your Market BUY orders didn't trigger on the moment it broke above 4.00.  Zhou, I assume you are taking the other side of every trade on your site?  So you are selling to people at 4.77?

[ineededausername]

wow this is insane... so many bulls that it crashed bitcoinica, probably xD
edit: just read zhoutong's post

[BitPay Business Solutions]

This is what happens when everyone hits Zhou's big green BUY button at the same time



Sing it with me:  "Five...Five Dolla....Five Dolla Bit Coins!"

[zhoutong]

you are probably lucky your Market BUY orders didn't trigger on the moment it broke above 4.00.  Zhou, I assume you are taking the other side of every trade on your site?  So you are selling to people at 4.77?

We are not trading against our customers. There's seriously no depth above $4 at that time compared to the massive forced liquidations. Bitcoinica, as a market maker, has to offer guaranteed liquidity on the price displayed. There's simply no better price to offer according to our algorithm.

We have recovered all the inaccurate forced liquidations as a result of this spike.

[barrymac]

I had some really extreme forced liquidations, and they are far from recovered! Any chance you are going to recover them ? My price was pretty good if it hadn't crashed so ridiculously deep for that very short time. The system didn't keep up with the speed of the price move. Circuit breakers need to kick in way quicker than that!