This would be bad if true:
The tweet is talking nonsense. Look at the replies. Not sure why he thought issues on 03/03 would be related to 29/02
Maybe because 29/02 was not a trading day? Today wouldâve been 03/03 if it wasnât for the leap day.
But what do I knowâŠ
https://twitter.com/jtech63/status/1234600045787394048
Could not recreate the bug (inspect page > console) but dont have an account:
âThe market can stay irrational longer than you can stay solvent.â
â John Maynard Keynes
But if the APIs are down there would be errors, as one of the comments says here: Robinhood reports outage as markets rebound | Hacker News
Current status:
Link: https://status.robinhood.com
Link: https://status.robinhood.com
Source - Robinhood experiencing a âsystem-wide outageâ as markets rebound | Hacker News
Reddit rumourville:
Source - Reddit - Dive into anything
Was just about to post this. Leap year did them
Email is down:
Iâd find it bizarre if it was the leap year thing, why wouldnât they be using a standard date library/implementation?
I use dates every day, but I donât need to know or care if itâs a leap year
The FTâs choice for a headlineâŠ
The spokesperson added that, contrary to some commentary online, the glitch had not been caused by a failure to code for the leap year. Compensation would be available to users âon a case by case basis,â the spokesperson said.
Know your margin of safety. Donât treat the markets like a casino unless youâre prepared to lose money:
âŠa 23-year-old construction worker from Brooklyn, had recently signed up to Robinhood. He had bought shares in VaxArt and iBioPharma, two penny stocks that had surged in recent days despite the sell-off. On Monday, he tried to sell shares in the companies but the Robinhood app failed to execute the trades. He lost thousands of dollars after VaxArt lost 18 per cent and iBioPharma dropped 10 per cent.
(Source - Robinhood shutdown leaves users feeling robbed)
Nasdaq:
The spokeswoman said Robinhood did not lose any customer data, information or funds because of the outage.
(Source - https://www.nasdaq.com/articles/trading-app-robinhood-back-up-and-running-after-outage-2020-03-03)
Some users are having problems still:
If the current outage lasts the whole of today as well, I wonder if this could be terminal for Robinhood. It was their low pricing that pushed the established brokers to zero fees and now they will probably pick up many people leaving Robinhood who are upset at the outages.
I was interested in trying out their service when they eventually launched in the uk, but this has put me off somewhat.
I wonder what Freetrade is doing in order to prevent something like this to happen in the future, and if it were to happen what would the emergency protocol be. Blog post maybe?
Freetrade are preventing it now arenât they, not aware of any issues regarding buying or selling?
Iâm not aware of any issues either. At least not of the magnitude reported for the Robinhood outage.
Nevertheless I think it would be important to address the topic from a technical point of view that would necessarily have to remember failures of infrastructure may occur, but that people can rest assured a backup plan is in place, and elaborate on that.
On another note. When investing for the long run, with a buy and hold strategy, such a outage itâs not really a big deal unless it happens to occur in times where prices are depressed. When day trading, or swing trading, or using leverage, on the other hand, more serious complications may arise. Till this moment I have no information that Freetrade intends to offer solutions that involve the use of leverage, hence it wouldnât apply. That doenât mean itâs irrelevant. Quite the opposite. It can be an opportunity. But before jumping into it, wait to see the result of the diagnosis, check your own room, think about it, and then maybe write about it.
Makes sense?
You never know, in another month Robinhood being horribly broken might look like good guardianship of investor money if it stops them panic selling or buying when they shouldnâtâŠ
I have to say I have some sympathy for the Robinhood engineering team. Whenever I see something like this Iâm reminder of the infamous S3 outage that Amazon had. How a typo took down S3, the backbone of the internet - The Verge
From the outside Robinhood look like a strong engineering team. Importantly theyâre trying to move the industry forward and greater change => greater risk of failure. Weâve tried to mitigate some of this risk by pushing our infrastructure to Google but as in the Amazon outage above there are still risks. All that said I hope that if we do run into issues we communicate more clearly than Robinhood did in this instance. It looks like updates came late and didnât give customers much opportunity to react.
âRecord account sign-upsâ:
âWe now understand the cause of the outage was stress on our infrastructureâwhich struggled with unprecedented load. That in turn led to a âthundering herdâ effectâtriggering a failure of our DNS system.
âMultiple factors contributed to the unprecedented load that ultimately led to the outages. The factors included, among others, highly volatile and historic market conditions; record volume; and record account sign-ups. â
Robinhood started to use Kubernetes
While Freetrade killed it
Freetrade going serverless. What does that have to do with killing Kubernetes if anything?
I have no tech background, thus I have no idea if Kubernetes and serverless are mutually exclusive antagonists, or complementary tools that can be used together, i.e. a car and a boat, or if they are even at the same level, i.e. maybe one is a car and the other a road. I look at this and I donât know what I see. Thus Iâm not entirely sure of what words I need to ask the question, but the word redundancies in a serverless [insert right word here] at scale comes to mind. Also, thereâs a huge difference between RH and FT: RH has 10M accounts, FT around 110K, or just over 1%, and growing. How does serverless handles 500k, 1M, 10M?
Hope this makes sense