[2017-12-11] Chicago Exchange crashed by Bitcoin

LibraryAnn

jr. member

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Quote from: jjacob on December 11, 2017, 05:14:38 PM

Quote from: eyesopen on December 11, 2017, 05:01:58 PM

i agree, there must have been a serious rush to get on the futures train to crash the site.

did they underestimate the volume of traders wanting to start futures trading before CME launch?

The actual trading volumes was not very high. It was a few thousands. I doubt if that is sufficient to get the website to crash.
Moreover, a lot of brokerages haven't offered clearing for Bitcoin futures. So the crash seems highly suspicious to me. Thankfully, no harm done.

They should have been better prepared.
Moreover, a lot of brokerages haven't offered clearing for Bitcoin futures...
Any updates on this? The "Wall Street Invasion" of Bitcoin seems to be unprofessional at this time.

Edit:
Chicago Merchantile Exchange (CME) starts on Dec 18th
http://fortune.com/2017/12/11/bitcoin-surge-futures-cboe-cme-price/
Chicago Board Options Exchange launched bitcoin futures to trading over the weekend....

jjacob

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★Nitrogensports.eu★

Quote from: eyesopen on December 11, 2017, 05:01:58 PM

i agree, there must have been a serious rush to get on the futures train to crash the site.

did they underestimate the volume of traders wanting to start futures trading before CME launch?

The actual trading volumes was not very high. It was a few thousands. I doubt if that is sufficient to get the website to crash.
Moreover, a lot of brokerages haven't offered clearing for Bitcoin futures. So the crash seems highly suspicious to me. Thankfully, no harm done.

eyesopen

member

Activity: 112

Merit: 12

i agree, there must have been a serious rush to get on the futures train to crash the site.

did they underestimate the volume of traders wanting to start futures trading before CME launch?

coolcountry

member

Activity: 154

Merit: 11

I think this is good news. Goes on to show you how much interest there is in such an instrument. I think futures will solidify bitcoin's position as the leader of the crypto realm and grant it more legitimacy.

Samarkand

sr. member

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Merit: 282

Quote from: Zicadis on December 11, 2017, 04:13:16 AM

...

CBOE Tweeted a status update which said “Due to heavy traffic on our website, visitors to cboe.com may find that it is performing slower than usual and may at times be temporarily unavailable. All trading systems are operating normally.”
...

I´m wondering why the official website of the CBOE was impacted by the big demand.

Originally, I was under the impression that the CBOE was basically providing only the back-end for the Bitcoin futures, while the investors
and retail clients had to use a broker to actually trade the futures. E.g. Schwab or TD Ameritrade in the US or Interactive Brokers
for traders that reside in Europe. Therefore the trading engines of the brokers would have to be impacted by the big demand
if the slower performance was actually caused by the mentioned reason.

Consequently, I think the CBOE website was subject to a DDoS attack by some entity, which has an interest to harm
the launch of the Bitcoin futures (e.g. someone with a big BTC short position).

Zicadis

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Dump it!!!

The long awaited launch of Chicago Board Options Exchange Bitcoin futures contracts went off with a bang yesterday as the website was knocked offline by a surge in traffic. The first contracts were offered at 18.00 EST on Sunday and an unprecedented demand overwhelmed the exchange.

CBOE Tweeted a status update which said “Due to heavy traffic on our website, visitors to cboe.com may find that it is performing slower than usual and may at times be temporarily unavailable. All trading systems are operating normally.”
The site outage coincided with a surge in Bitcoin price at the time of launch. According to CoinDesk’s Bitcoin Price Index (BPI) it jumped from $14,509 at 22:59 UTC to $15,732 seven minutes later, 8.4% in a few minutes. Once the initial rush had subsided the CBOE website came back online and contracts started to sell.

readmore http://www.newsbtc.com/2017/12/11/chicago-exchange-crashed-bitcoin/

Topic: [2017-12-11] Chicago Exchange crashed by Bitcoin (Read 2999 times)