Live data from Hacker News

Robinhood reports outage as markets rebound

axios.com

91–100 of 164 posts

Re: Robinhood reports outage as markets rebound

#91

Apparently leap day is the cause: https://mobile.twitter.com/jtech63/status/123460004578739404... Also rumor has it they “lost user data and the backups are not working as expected” Edit: This is the tweet. Not sure if it is legit: https://mobile.twitter.com/classrobinhood/status/12345774264...

This looks like a terrible source. I would wait until they issue a statement.

Re: Robinhood reports outage as markets rebound

#92

Apparently leap day is the cause: https://mobile.twitter.com/jtech63/status/123460004578739404... Also rumor has it they “lost user data and the backups are not working as expected” Edit: This is the tweet. Not sure if it is legit: https://mobile.twitter.com/classrobinhood/status/12345774264...

If this is true and nothing happens to this company, everyone should feel free to use bugs to cover up any and all IT negligence.

Re: Robinhood reports outage as markets rebound

#93

Apparently leap day is the cause: https://mobile.twitter.com/jtech63/status/123460004578739404... Also rumor has it they “lost user data and the backups are not working as expected” Edit: This is the tweet. Not sure if it is legit: https://mobile.twitter.com/classrobinhood/status/12345774264...

This looks like a terrible source. I would wait until they issue a statement.

Very true! Unfortunately RH went completely dark. I sincerely hope they fix the issue and provide a post mortem.

Re: Robinhood reports outage as markets rebound

#94
post #92

Apparently leap day is the cause: https://mobile.twitter.com/jtech63/status/123460004578739404... Also rumor has it they “lost user data and the backups are not working as expected” Edit: This is the tweet. Not sure if it is legit: https://mobile.twitter.com/classrobinhood/status/12345774264...

If this is true and nothing happens to this company, everyone should feel free to use bugs to cover up any and all IT negligence.

Are you blaming the lack of programming logic around leap years on IT?

Re: Robinhood reports outage as markets rebound

#95
post #38

Aaaand, there's already a twitter account trying to build a class action lawsuit against Robinhood for allowing an outage to happen. Wonder if this'll go anywhere! https://twitter.com/ClassRobinhood

it's probably some law firm trying to see if they can get any $$$

Re: Robinhood reports outage as markets rebound

#96
post #61

Earlier quoted context omitted.

There’s nothing unintentional about the hilarity. That community is totally self-aware and rife with in-jokes and satire. The folks that post there see their gambling for what it is.

I think there's a mix of in-on-the-joke and not. I've read some sad stories about, for example, a student betting student loan money in the market and losing it instantly, lured to make risky bets from the other stories of dumb luck success. Here's someone I don't think is in on the joke: https://i.redd.it/at7gloeb5ck41.jpg ... oops

It’s a obnoxious to know nothing about the culture of wallstreetbets and then to make declarations as if you know after reading a few posts.

Posts like that are par for the course. Its called “Loss Porn”. The subreddit is absolutely geared towards stock/options trading as gambling and if you think otherwise then you’re wrong. They are very self-aware and do it for fun. And yes some may lose a lot of money but they know exactly what they are getting themselves involved in.

Re: Robinhood reports outage as markets rebound

#97
post #92

Apparently leap day is the cause: https://mobile.twitter.com/jtech63/status/123460004578739404... Also rumor has it they “lost user data and the backups are not working as expected” Edit: This is the tweet. Not sure if it is legit: https://mobile.twitter.com/classrobinhood/status/12345774264...

If this is true and nothing happens to this company, everyone should feel free to use bugs to cover up any and all IT negligence.

I doubt it will be possible to just shake it off as there is likely millions of dollars lost for customers. Not in some abstract way like when github goes down but literally because people cannot close out positions and options expire. If it is really just a leap year bug It should be gross negligence. Not sure if their TOS will hold then.

Re: Robinhood reports outage as markets rebound

#98

Reading Reddit's WallStreetBets has been unintentionally hilarious. https://www.reddit.com/r/wallstreetbets/ Folks were leveraging up all last week and buying puts, thinking the market was tanking to zero and we're all going to die of "beer virus" as they call it -- and are getting a harsh lesson about timing the market today. They’ve been giving so much leverage to broke young people, I wouldn’t even be surprised to…

It's probably one of the most suspenseful market opens in history. The tug of war between bulls and bears across the entire sub has been incredibly entertaining. Regarding leverage: buying options is a fixed loss against the cash in your account. RH also only allows selling secured options. There's no way to lose more than you started with (at least with the current app, they had problems before). Retail investors us…

Haha, you clearly weren't around for bear Stern's and lehman

Re: Robinhood reports outage as markets rebound

#99
post #43

What are the odds that this was a cyberterrorism attack? If you can predict this kind of market event (the bounce back), and you want to hurt a company and its users, you would simply DDoS at the right time.

Much lower than the odds of incompetence.

Re: Robinhood reports outage as markets rebound

#100
post #13

As of 3:44PM EST. It’s still not back. I then signed out of the app and can’t sign back in. I then thought maybe they reset passwords, so I tried resetting. Even that’s not working. Total outage!

Reset passwords? They’re not MoviePass :)
Post reply on HN