Quote from: crwth on May 20, 2021, 09:15:15 AM

Quote from: Quickseller on May 19, 2021, 09:56:13 PM

Coinbase was also down earlier in the day. Prices were down heavily today, and this resulted in heavier traffic to exchanges and sites like CMC. I wonder how much Coinbase and Binance going down contributed to the acceleration of price declines.

I read somewhere that they have resolved it already but it took almost an hour? I'm not really sure. A lot of people might have panic sold and was surprised when it bounced back right up a higher price again. Maybe they are involved with the whales having those types of orders? Or a lot of people just trying to access and it overloaded the system? Probably the latter.

You can see a history of outages and downtime at coinbase at https://status.coinbase.com/

The issue was first noted at 6:12 AM PDT, a fix was implemented at 7:38 AM PDT, and was marked at resolved at 8:36 AM PDT. There were a number of issues at coinbase throughout that day, and it looks like they might have had some additional downtime later that evening, when trading volumes were anticipated to be lighter to perform some maintenance.

It seems like many bitcoin related services and websites do not scale very well when they encounter heavy traffic volume. I understand why an exchange might have more difficult scaling 'on demand' due to security issues, but I would think it would be almost trivial for a site like CMC to scale. I would think CMC is fairly profitable, so I don't think cost would be an issue as to why they would be unable to scale.