3 ms·

Am I the only one surprised that some of their targets don't even have 3 nines as availability? That's some pretty crazy stuff when it comes to how serious the

Am I the only one surprised that some of their targets don't even have 3 nines as availability? That's some pretty crazy stuff when it comes to how serious the context is and considering the availability of cryptocurrency transactions.

toomuchtodo 6y ago
Yes. That'd be quibbling over a few hours per year [1] in availability. No system can be expected to deliver 100% uptime. I have associates involved in mortgage lending. Anyone who was waiting to close based on a wire was told to just reschedule for tomorrow. [1] https://en.wikipedia.org/wiki/High_availability#Percentage_calculation https://en.wikipedia.org/wiki/High_availability#Percentage_c...
- capableweb 6y ago
  > That'd be quibbling over a few hours per year From your own source: 99% ("two nines") - Per Day - 14.40 minutes 99.9% ("three nines") - Per Day - 1.44 minutes If you do multiple transfers per day, the difference is non negligible. Especially if you rely on it for critical transfers. > No system can be expected to deliver 100% uptime. Of course not, hence we're talking about the amount of nines, not if the uptime is perfect. > Anyone who was waiting to close based on a wire was told to just reschedule for tomorrow. Indeed, doesn't that suck? Why can't it finish in at least hours if not minutes?
tfehring 6y ago
Would be interested in seeing the 99.9%ile execution time for BTC vs FedACH transactions. The page linked in the parent comment provides statistics for "timely" processing but doesn't indicate the actual time(s) that that standard represents. My money's still on the Fed though.
- capableweb 6y ago
  > Would be interested in seeing the 99.9%ile execution time for BTC vs FedACH transactions You mean like account to account transactions? Doesn't ACH transactions take "up to 3 business days" or something silly like that? I can't really find any average numbers either as none of the data is being made public. The transactions speed for one block in Bitcoin has been at max ~30 minutes, you might require up to N amount of blocks depending on your use case. So 10 blocks (safe) would be 5 hours, available 24/7 (granted you have internet access).

toomuchtodo 6y ago

Yes. That'd be quibbling over a few hours per year [1] in availability. No system can be expected to deliver 100% uptime. I have associates involved in mortgage lending. Anyone who was waiting to close based on a wire was told to just reschedule for tomorrow. [1] https://en.wikipedia.org/wiki/High_availability#Percentage_calculation https://en.wikipedia.org/wiki/High_availability#Percentage_c...

capableweb 6y ago
> That'd be quibbling over a few hours per year From your own source: 99% ("two nines") - Per Day - 14.40 minutes 99.9% ("three nines") - Per Day - 1.44 minutes If you do multiple transfers per day, the difference is non negligible. Especially if you rely on it for critical transfers. > No system can be expected to deliver 100% uptime. Of course not, hence we're talking about the amount of nines, not if the uptime is perfect. > Anyone who was waiting to close based on a wire was told to just reschedule for tomorrow. Indeed, doesn't that suck? Why can't it finish in at least hours if not minutes?

tfehring 6y ago

Would be interested in seeing the 99.9%ile execution time for BTC vs FedACH transactions. The page linked in the parent comment provides statistics for "timely" processing but doesn't indicate the actual time(s) that that standard represents. My money's still on the Fed though.

capableweb 6y ago
> Would be interested in seeing the 99.9%ile execution time for BTC vs FedACH transactions You mean like account to account transactions? Doesn't ACH transactions take "up to 3 business days" or something silly like that? I can't really find any average numbers either as none of the data is being made public. The transactions speed for one block in Bitcoin has been at max ~30 minutes, you might require up to N amount of blocks depending on your use case. So 10 blocks (safe) would be 5 hours, available 24/7 (granted you have internet access).