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Bitcoin has recovered from dips really well in the past weeks due to major buy pressure. Unfortunately GDAX (and Coinbase), Gemini, and other exchanges all went

by g09980 9y ago

Bitcoin has recovered from dips really well in the past weeks due to major buy pressure. Unfortunately GDAX (and Coinbase), Gemini, and other exchanges all went down at the same time this time around, making it impossible to buy the dip.

zeep 9y ago
with Coinbase, the best I could do is buy @ 9400 and sell @ 9800 ...lost money because of their bad servers (for some reason downtime only happens when Bitcoin's value drops a lot)
eternalban 9y ago
> Unfortunately GDAX (and Coinbase), Gemini, and other exchanges all went down at the same time > Conveniently GDAX (and Coinbase), Gemini, and other exchanges all went down at the same time
- deleted 9y ago
  [deleted]
- moreless 9y ago
  Not sure why you are being downvoted - very precisely (and probably accurately) conveyed what was happening. What are the chances of all these exchanges having trouble at the same time? I'd really like to see postmortem on this.
  - eternalban 9y ago
    Because it is an emotional topic. There are various, arguably valid, orthogonal aspects that motivated the technology behind distributed ledgers. And when those utopian dreams are subjected to the cold hard facts (of this world) it elicits a non-rational response. That is the positive view of this group-mind phenomena. The negative view would posit that voices that point out that "the emperor has no clothes" can derail what very much appears to be a pyramid scheme.
WJW 9y ago
Straddles are priced on volatility, so the actual price is not relevant.
ljk 9y ago
> Unfortunately GDAX (and Coinbase), Gemini, and other exchanges all went down at the same time this time around, making it impossible to buy the dip how like is being down planned? could there be more to this coicident?
- dwaltrip 9y ago
  I have seen comments that there is sometimes heavy DDOS attacks on the various bitcoin exchanges during intense price movements. Don't know much beyond that.
- josephagoss 9y ago
  Not sure about this incident, but I recall there was an incident earlier this year or late last year where there was major price action and evidence of someone DDOS'ing some exchanges. And if not DDOS, it's entirely possible that these exchanges are not able to handle the rush of people logging in to buy the dip. I don't think any of these exchanges have the throughput of something like NASDAQ, not yet anyway.
- QML 9y ago
  Crypto is a really really new market —- expect exchanges to go down, have flash crashes, be complicit in manipulation, have terrible customer services, and maybe even lose customer funds.

by g09980 9y ago

zeep 9y ago

with Coinbase, the best I could do is buy @ 9400 and sell @ 9800 ...lost money because of their bad servers (for some reason downtime only happens when Bitcoin's value drops a lot)

eternalban 9y ago

> Unfortunately GDAX (and Coinbase), Gemini, and other exchanges all went down at the same time > Conveniently GDAX (and Coinbase), Gemini, and other exchanges all went down at the same time

deleted 9y ago
[deleted]
moreless 9y ago
Not sure why you are being downvoted - very precisely (and probably accurately) conveyed what was happening. What are the chances of all these exchanges having trouble at the same time? I'd really like to see postmortem on this.
- eternalban 9y ago
  Because it is an emotional topic. There are various, arguably valid, orthogonal aspects that motivated the technology behind distributed ledgers. And when those utopian dreams are subjected to the cold hard facts (of this world) it elicits a non-rational response. That is the positive view of this group-mind phenomena. The negative view would posit that voices that point out that "the emperor has no clothes" can derail what very much appears to be a pyramid scheme.

WJW 9y ago

Straddles are priced on volatility, so the actual price is not relevant.

ljk 9y ago

> Unfortunately GDAX (and Coinbase), Gemini, and other exchanges all went down at the same time this time around, making it impossible to buy the dip how like is being down planned? could there be more to this coicident?

dwaltrip 9y ago
I have seen comments that there is sometimes heavy DDOS attacks on the various bitcoin exchanges during intense price movements. Don't know much beyond that.
josephagoss 9y ago
Not sure about this incident, but I recall there was an incident earlier this year or late last year where there was major price action and evidence of someone DDOS'ing some exchanges. And if not DDOS, it's entirely possible that these exchanges are not able to handle the rush of people logging in to buy the dip. I don't think any of these exchanges have the throughput of something like NASDAQ, not yet anyway.
QML 9y ago
Crypto is a really really new market —- expect exchanges to go down, have flash crashes, be complicit in manipulation, have terrible customer services, and maybe even lose customer funds.