At least two of the major crypto exchanges were yesterday, and last night had to contend with I can live with, which makes them somewhat unusable. BitMEX, and the Twins were about 45 minutes off.
Between 02:16 and 02:40 UTC 13 March 2020, we became aware of a hardware issue with our cloud service provider and causing BitMEX requests to be delayed. Normal service resumed at 03:00 UTC. As a reminder, no system updates can be found on our status page https://t.co/fVa1FAqSEW
— BitMEX (@BitMEXdotcom), March 13, 2020
BitMex was about a 25-minute off-line. In the past 24 hours, there are more positions to be liquidated at any point in the last few years. The Data of the SKEW reveals that the total volume bitcoinfutures has never been so high.
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Was it a failure?
What you are bitcoin traders are a lot have been lost, and with this in mind, has BitMEX a lot of criticism. There is even a theory, it is the time that the company has made a substantial contribution to the loss of the bitcoin. Sam Bankman-Fried, the CEO of the Alameda, and believe that there is no problem with the hardware in the BitMEX was.
8) Well, for one thing, BitMEX stopped moving down their liqs, even if they weren’t filled. They just sat there……… Hoping. Hoping that someone would lift it. But no one did.
— SSO (@SBF_Alameda), March 13, 2020
His entire series of tweets, he says that it is the desire of BitMEX to be in the market to deal with the collapse of bitcoin has increased.
12), BTC rallied … and the gigantic sell wall, or the BitMEX liq. And even more than that–BTC rallied, so definition to the people *had* to be liquidated….. Creating a self-fulfilling prophecy. If we could, will the BTC up and above $5k, maybe then it would no longer *need* to go down.
— SSO (@SBF_Alameda), March 13, 2020
BitMEX to respond to the allegations as a conspiracy theory, to name a few.
“Insane” is right. Sam, you know better than to deal in this type of conspiracy theory, especially since you operate a platform in the space, and under pic.twitter.com/NvNvUrYg0I
— BitMEX (@BitMEXdotcom), March 13, 2020
The flash crash of bitcoin, and more than 50% of yesterday made for a lot of long positions on the BitMEX were liquidated. In total, it went to 1.1 billion dollars. BitMEX has to have confidence in their own fund. In the past 24 hours, but they lost 1.627 bitcoins, this is only 4.6% of the total value of the fund.
The BitMEX insurance fund is the largest in the industry by orders of magnitude, and remains healthy.
— BitMEX (@BitMEXdotcom), March 13, 2020
And the other big shows?
The twins had yesterday off due to a technical problem. Coinbase makes it over the network from the ether (ETH) and the ERC20 tokens. Because of the traffic on the network and its transactions are subject to a delay. The other major stock exchanges such as the Binance and the Crack did not report failures.