Trading App Robinhood Experiencing 'Major Outage' For a Second Day Amid Heavy Volume Market Action (cnbc.com) 20
Robinhood on Tuesday reported technical issues for a second day following an outage that kept clients from trading on a historic market rally. From a report: As U.S. stocks traded actively again in wake of a surprise Fed rate cut, Robinhood reported a "major outage" for trading across its platform. Earlier updates on the site said that all trading was "operational," but Twitter users posted screenshots of error messages as U.S. markets opened Tuesday. "We are experiencing a system-wide outage," a message on Robinhood's website read. Technical issues began Monday morning and lasted throughout the trading day, leaving users with their hands tied as the Dow Jones Industrial Average's biggest one-day point gain in history. In a volatile session Tuesday, stocks surged off their lows after the Federal Reserve cut interest rates in an effort to stem slower economic growth from the coronavirus outbreak.
Leap Year Issue (Score:4, Informative)
The latest theory is that it was caused by a rookie leap year issue: https://www.reddit.com/r/softw... [reddit.com] ... And that this happened 4 years ago, last leap year and they didn't bother correcting the issue.
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That theory makes zero sense.
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> That theory makes zero sense.
Oh, sorry, you don't know what a leap year is? Hopefully this helps:
leap year /lp yi()r/
noun
a year, occurring once every four years, that has 366 days including February 29 as an intercalary day.
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Why? It's one of the dangers of doing a rewrite from scratch - you lose all the bug fixes you've accumulated over time, so your new clean codebase is once again full of the same silly bugs that your old codebase had and was fixed years ago.
It's gotten to the point where the "start from scratch" is an anti-pattern of software development - not o
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Offtopic :
I believe in code clean up, not code rewrites.
starting with issuing the patch's first,
then issuing updates that are code bloat reduction to the end user,
and finalizing to clean up as optimization for speed increase,
then issuing those updates.
rinse and repeat.
why is it that no one likes these steps. I've never had a failure doing this
also, I do recall that I lost a great word processor back in the day
due to it trying a code rewrite ( wordstar I think it was called ) . boy I liked
that it worked so w
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why is it that no one likes these steps. I've never had a failure doing this
Cleaning up code and making the users gradually more productive does not sound sexy to the CEO and won’t get your boss’s boss a raise/promotion, and won’t give him a huge budget to spend.
A multimillion, multi-year full rewrite, OTOH, would let him hire his buddies, spend money on vendors who could then give him gifts and offer him free business conferences in Switzerland ski resort. It would also pad his CV so he can hunt for the next company to “lead” a full rewrite. Rinse and
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thank you for your reply Oliver
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Clearing system != trading system. Trading is real-time and what got bogged down. Clearing happens after the fact in fact after close of trading. It’s the settlement of the trades - I.e. the actual transfer of ownership. Trading is the initial agreement to transfer.
In old school parlance trading is the brokers yelling at each other on the floor and exchanging little slips of paper. Clearing is matching up the little slips of paper with customer accounts, waiting for customers to mail in certificates t
see-saw (Score:2)
Everyone sell!
...
Everyone buy!
repeat until recession
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Everyone sell! ...
Everyone buy!
repeat until recession
“In the short run, the market is a voting machine but in the long run, it is a weighing machine.” - Benjamin Graham
This is not a dupe (Score:2)
Well kind of it is, but it's still down as of this moment so it's more of an updatel. You can check the current status here: https://status.robinhood.com/ [robinhood.com]
Sucks to be their user I guess, but IBKR also took like 10 minutes to provide me a 2fa code so it might be also because heavy trading due to covid-19 panic.
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Headline shortcomings (Score:2)
Hmm, this headline makes no mention of stealing from the poor or failing to sock it to the rich. Clearly the editors haven't had their morning coffee.
this is the outcome. (Score:2)
it seems that many people want wealth for free, but no one is willing to commit their own personal resources towards
the development, just the venture capitalist. The VC take all the development risk, and sometimes they fail.
The consumer wants to make money, and it seems that the market demand for this product is very high. it's good to note
this platform discloses that bad things like lag can happen, and they did back in 1987 during the market crash, some
Quotron terminals were not responding ( I did not have
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Who is responsible? (Score:2)
Sounds like someone wanted to stop people buying in to a rising stockmarket. Maybe they had orders to tamp down enthusiasm and keep people worried.