Earlier quoted context omitted.
Stripe is on Ruby and Mongo and they seem to be doing OK.
Good point.
Why do people still use a document database with no transactions for domains with a fairly slim and rarely changing schemas?
Coinbase down for maintenance
231–240 of 252 posts
Re: Coinbase down for maintenance
#232Earlier quoted context omitted.
I don't know about Stripe or Whatsapp, but I know coinbase has had an average of 30,000 new users a day for a while, with spikes of over 100,000 new signups in a single day around thanksgiving. It's absolutely bonkers amounts of growth! Edit: more concrete numbers: In January of 2016 they had around 2.6 million users. On November 29th they announced they had over 13 million users.
That, followed by the fact that many of their users probably sit on the site a good part of the day constantly refreshing the page/taking up websocket bandwidth to watch price changes. Yeah, load is a serious issue.
I'm genuinely amazed that they can do streaming updated to GDAX as fast as they do.
Re: Coinbase down for maintenance
#233It's a matter of time until Mt. Gox part 2 I think. It may not even take nefarious workings at the top, just sloppy work somewhere + one bad employee or outsider. Is this going to end in a re-discovery of exactly why we have FDIC? Or the SEC? How do people even know how much bitcoin activity is real and not essentially faked? Popular Google Searches by year, by my estimation. 2016: "what is bitcoin" 2017: "what is et…
https://www.nicehash.com/
Last week, their rates were about 4 BTC to rent 1 TeraHash/second of mining capacity for 24 hours. Today, according to a mining calculator[0], that works out to about $2.62 in BTC per day.
[0] https://www.cryptocompare.com/mining/calculator/btc?HashingP....
Re: Coinbase down for maintenance
#234Earlier quoted context omitted.
Good point.
Why do people still use a document database with no transactions for domains with a fairly slim and rarely changing schemas?
the expertise of their engineers leans that way .... why do we have many techs that can do the same thing? ... engineering is a social science
Re: Coinbase down for maintenance
#235Earlier quoted context omitted.
And yet the NYSE keeps on ticking.
... from 9 to 5, monday through friday, with a fairly predictable load, and decades more experience. I'm not saying it's impossible, but the amount of growth they have seen is substantial and unprecedented. Nobody could have predicted it, and the rate of increase just keeps going up. They are clearly new in this space, as all cryptocurrency companies are. I don't think that means that they should just give up and go…
> ... from 9 to 5, monday through friday, with a fairly predictable load, and decades more experience.
And a lot more operating capital, too.
Re: Coinbase down for maintenance
#236Earlier quoted context omitted.
That's a nice, detailed status page. Although, some would say that it's a bad sign such a page is needed.
Apple: https://www.apple.com/support/systemstatus/ Google: https://www.google.com/appsstatus#hl=en&v=status AWS: https://status.aws.amazon.com/
Fair enough, I see what you mean. I take back my statement.
Re: Coinbase down for maintenance
#237Earlier quoted context omitted.
Coinbase isn’t a bank it’s an exchange. Why would they carry a reserve of anything? It stores your shares for you, but it’s not loaning them out. The only way you get money out of Coinbase is if someone buys your shares.
They presumably have on hand the full amount of cash and Bitcoins that their participants have given them and don't loan any of them out. That means they have a full reserve.
Hopefully and unlike the exchanges using Tether.
Re: Coinbase down for maintenance
#238I wouldn't want to be in a business in which the worlds absolute finest hackers and crackers - the elite of the best of the best - make it their full time job - forever without end - to get into your systems and steal everything of value.
Re: Coinbase down for maintenance
#239As somebody who doesn't have a background in finance, what are the legal obligations of an exchange to stay online? How can a user of the service be certain that an exchange is offline for technical or non-technical reasons? Let's imagine the likely scenario when the price suddenly drops like a rock and the exchange goes offline completely (for technical or non-technical reason). Could a user make a claim that Coinba…
I'm expecting this all to go wrong, up to the point that I'll just let my coins ride it all out. The first gamble is bitcoin, the second gamble is the exchanges.
Re: Coinbase down for maintenance
#240I wouldn't want to be in a business in which the worlds absolute finest hackers and crackers - the elite of the best of the best - make it their full time job - forever without end - to get into your systems and steal everything of value.
That sounds like any bank. Computer systems as the source of truth for billions of dollars of assets is not new.