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You've got to bear in mind that they're talking to reddit. I think thats a fair description of why they can't upgrade at the drop of a hat. As they say elsewher

You've got to bear in mind that they're talking to reddit. I think thats a fair description of why they can't upgrade at the drop of a hat. As they say elsewhere in the AMA: We are big in the bitcoin world, but compared to a Facebook or a Google or even a bank we are too small and don't have access to their technology What would you have them do?

dragonwriter 14y ago
> Cloud solutions are not meant for large scale operations such as trading systems Arguably, hosted cloud solutions aren't ideal for large scalable operations, if you define "large scale" as in "someone with the scale of Amazon, Google, etc. that can afford to run a private cloud." But MtGox makes it pretty clear that they aren't on that scale. Their argument seems to be simultaneously that they are both too "large scale" for hosted cloud solutions and too small scale to be able to effectively address the challenges they face in-house, which, if we accept it, seems to indicate that they are at a scale that cannot effectively operate.
- codeulike 14y ago
  Right. They couldn't effectively operate in the face of a huge trading spike and a DDOS. Hence they're upgrading. But then they get stick for taking too long to upgrade. Conversely, if they spent $$$ on a bulletproof platform, they'd probably go bust (as seems to have happened to other more technically proficient exchanges) The underlying problem is: people have too high expectations of what the bitcoin world can cobble together at this point. Its being built by hackers, not bankers.
  - dragonwriter 14y ago
    > Conversely, if they spent $$$ on a bulletproof platform, they'd probably go bust (as seems to have happened to other more technically proficient exchanges) If that's true, it would seem to indicate that no one with the resources to eat the cost of operating a reliable exchange through the expected growth period of bitcoin has sufficient long-term confidence in bitcoin to underwrite the growth-phase costs in order to reap the rewards once bitcoin is all grown up. > The underlying problem is: people have too high expectations of what the bitcoin world can cobble together at this point. Its being built by hackers, not bankers. Expecting the main exchange for something that is promoted as a currency to meet the reliability expectations of a currency exchange is not unreasonable.
    - codeulike 14y ago
      You're assuming that access to investment (VC funding or whatever) is a perfectly efficient system. It clearly isn't.
- nwh 14y ago
  As far as I can make out from reading #bitcoin, their whole service runs on a single server currently. The very notion that they could be too big for any hosting provider is hilarious.
  - codeulike 14y ago
    If they tried to use AWS amazon would drop them like a stone. I think they also are deliberately keeping their hardware in house for security.

dragonwriter 14y ago

> Cloud solutions are not meant for large scale operations such as trading systems Arguably, hosted cloud solutions aren't ideal for large scalable operations, if you define "large scale" as in "someone with the scale of Amazon, Google, etc. that can afford to run a private cloud." But MtGox makes it pretty clear that they aren't on that scale. Their argument seems to be simultaneously that they are both too "large scale" for hosted cloud solutions and too small scale to be able to effectively address the challenges they face in-house, which, if we accept it, seems to indicate that they are at a scale that cannot effectively operate.

codeulike 14y ago
Right. They couldn't effectively operate in the face of a huge trading spike and a DDOS. Hence they're upgrading. But then they get stick for taking too long to upgrade. Conversely, if they spent $$$ on a bulletproof platform, they'd probably go bust (as seems to have happened to other more technically proficient exchanges) The underlying problem is: people have too high expectations of what the bitcoin world can cobble together at this point. Its being built by hackers, not bankers.
- dragonwriter 14y ago
  > Conversely, if they spent $$$ on a bulletproof platform, they'd probably go bust (as seems to have happened to other more technically proficient exchanges) If that's true, it would seem to indicate that no one with the resources to eat the cost of operating a reliable exchange through the expected growth period of bitcoin has sufficient long-term confidence in bitcoin to underwrite the growth-phase costs in order to reap the rewards once bitcoin is all grown up. > The underlying problem is: people have too high expectations of what the bitcoin world can cobble together at this point. Its being built by hackers, not bankers. Expecting the main exchange for something that is promoted as a currency to meet the reliability expectations of a currency exchange is not unreasonable.
  - codeulike 14y ago
    You're assuming that access to investment (VC funding or whatever) is a perfectly efficient system. It clearly isn't.
nwh 14y ago
As far as I can make out from reading #bitcoin, their whole service runs on a single server currently. The very notion that they could be too big for any hosting provider is hilarious.
- codeulike 14y ago
  If they tried to use AWS amazon would drop them like a stone. I think they also are deliberately keeping their hardware in house for security.