No trade for almost an hour... | Bitcointalksearch.org

someguy123

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CEO of Privex Inc. (www.privex.io)

Quote from: phungus on March 12, 2013, 01:51:19 PM

Facebook literally has many tens of thousands of servers. Gox has like 2 and only one of them can be the actual trading engine.

The idea that Gox is only running on 2 servers seems horrible. A service which has to handle so much load definitely needs to be scaled better; I really think they need to add more servers, as it's getting ridiculous especially when I'm also unable to cancel any open orders during the lag.

Nemesis

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Activity: 462

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Also for the long time, i have been thinking..... since this exchange is not regulated. Insider trading anyone?

What stop MtGox staff or members from this?

Its purely based on trust right now... and we all know how human nature is....

AndyRossy

sr. member

Activity: 448

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Yep mtgox is the defacto exchange, and I think it's one of the manipulated currencies out there.

robamichael

full member

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Quote from: shkiser on March 12, 2013, 04:14:31 PM

The more time that goes by, and the longer Im involved with btc, the more the btc seems to not be "so decentralized", and the more I believe the price is being manipulated.. Who knows anymore..

EXACTLY!

Sometimes I feel like I'm the only one realizing this...

Sure, Bitcoin is decentralized... but to what extent?

We have developers who control the client, a blockchain ruled by democratic methods (majority > minority), and a nearly monopolized exchange industry.

I predict we will see a competing digital currency soon enough. Bitcoin is subject to the same integral dilution that any other ideological or faith based organization faces.

It only takes a couple slips for an entrepreneur to spot opportunity.

elux

legendary

Activity: 1458

Merit: 1006

Quote from: ?? on ??

I thought we already had official confirmation that the trade stop was put in place as a preventive reaction to the 0.7 vs 0.8 buggy chain fork?
I think the severity of the issue and its potential developments were more than enough reason for stopping trades for an hour.

No. That was a separate, earlier issue, which was addressed by MtGox: Bitcoin deposits temporarily suspended.

byronbb

legendary

Activity: 1414

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HODL OR DIE

Quote from: donjoe on March 12, 2013, 04:26:40 PM

Yet most of you insist on staying on Gox and on perpetuating its role as a single point of failure.

Imagine one day the government gets pissed at Bitcoin and decides to shut down Gox. Millions of BTC evaporated in an instant.

RALLY!

donjoe

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Yet most of you insist on staying on Gox and on perpetuating its role as a single point of failure.

Imagine one day the government gets pissed at Bitcoin and decides to shut down Gox. Millions of BTC evaporated in an instant.

shkiser

sr. member

Activity: 350

Merit: 250

The more time that goes by, and the longer Im involved with btc, the more the btc seems to not be "so decentralized", and the more I believe the price is being manipulated.. Who knows anymore..

elux

legendary

Activity: 1458

Merit: 1006

?? ?? ??

No statement or explanation of the issue from Mt.Gox?

epetroel

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Activity: 431

Merit: 251

Quote from: DeathAndTaxes on March 12, 2013, 03:56:20 PM

Quote from: phungus on March 12, 2013, 01:51:19 PM

MtGox has to run the trading engine all on one server.

In related news the entire NASDAQ must run on a single server because it is impossible for trading engines to span multiple servers.

NASDAQ trades many different securities. Each of them could theoretically be traded on it's own server.

Also, if I understand things correctly, you don't trade directly with NASDAQ. You trade with a broker who first tries to match your order against their own order book, then goes to other brokers to match your order against their books. So there's no real guarantee that you'll always get the best possible price or that orders are necessarily executed in the sequence they are received.

bpd

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Quote from: DeathAndTaxes on March 12, 2013, 03:56:20 PM

Quote from: phungus on March 12, 2013, 01:51:19 PM

MtGox has to run the trading engine all on one server.

In related news the entire NASDAQ must run on a single server because it is impossible for trading engines to span multiple servers.

Well, not quite true. They split up ticker symbols across multiple servers by alphabetical ranges. But your point stands, that the NASDAQ engines probably each handle about 100-1000x more order flow as MtGox does. Whoever wrote Gox's software deserves to lose their CS degree, if they ever had one.

DeathAndTaxes

donator

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Gerald Davis

Quote from: phungus on March 12, 2013, 01:51:19 PM

MtGox has to run the trading engine all on one server.

In related news the entire NASDAQ must run on a single server because it is impossible for trading engines to span multiple servers.

epetroel

sr. member

Activity: 431

Merit: 251

Quote from: avoid3d on March 12, 2013, 03:08:03 PM

Why is trading limited to vertical scaling ?

Because orders need to be processed in exactly the order they are received. This is inherently a "single-threaded" process that can't really be parallelized very efficiently.

That said, they seem to have two monster servers that do the work of the trading engine, website, database & api. I would imagine that work could be split up more efficiently by having a separate machine dedicated to the trading engine, other machines serving the web front end, another for the database server, etc. They may be doing something like that internally with VMs already though.

avoid3d

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Why is trading limited to vertical scaling ?

phungus

full member

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Merit: 100

I'm doin' fine on cloud 9

Facebook is able to scale horizontally because of the way web services work.

MtGox has to run the trading engine all on one server. Did you see that they released the specs of the two machines they're using?

Facebook literally has many tens of thousands of servers. Gox has like 2 and only one of them can be the actual trading engine.

Language and library speed is the top priority in this context.

-p

Melbustus

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Quote from: phungus on March 12, 2013, 01:12:17 PM

The only way to fix this is to get their rinky-dink trading platform off of PHP and on to a lower-level language and libraries.

And maybe even on a new platform...

-p

Yeah, Facebook should get off of PHP too before they have to handle any real volume. Roll Eyes

Language choice is 2nd order.

phungus

full member

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I'm doin' fine on cloud 9

The only way to fix this is to get their rinky-dink trading platform off of PHP and on to a lower-level language and libraries.

And maybe even on a new platform...

-p

AndyRossy

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Activity: 448

Merit: 250

Stopping deposits, stops people depositing their bitcoins to sell / cause crash. All the exchanges closed deposits.

labestiol

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Merit: 251

Only deposits (and maybe withdraws, not sure) were suspended last night, because of the increased risk of double spend.
As for this afternoon, hopefully it was for upgrading servers (yeah, maybe wishful thinking).

But saying Gox suspended trading to profit is bad conspiracy theory at best...

Elwar

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Viva Ut Vivas

According to http://www.thewhir.com/web-hosting-news/bitcoin-value-drops-23-percent-after-software-glitch-discovered

Quote

Bitcoin transactions were temporarily suspended on Monday night after a technical glitch with Bitcoin mining software, according to a report by Ars Technica.

After the glitch, the value of Bitcoins plummeted by 23 percent, dropping from $48 to $37, but the price soon recovered to $44, according to the report.

Major Bitcoin exchange Mt.Gox resumed Bitcoin deposits at 5:30 am EST Tuesday.

So MtGox is going to suspend trading when bad things happen?

Topic: No trade for almost an hour... (Read 2808 times)