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by dogma1138
1978 days ago
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Here is a public incident that the exchange I work for was involved in https://en.m.wikipedia.org/wiki/2010_flash_crash It lasted half an hour, caused a trillion dollars to be wiped off the US economy and was followed by investigations and a congressional hearing. If you think Twitter has a problem with adversarial clients connected to its network I think you don’t understand the modern financial market. |
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A bunch of things:
- that wasn’t an outage, that was actual trades taking place at significantly decreases prices. Not even close to the same category. Those same exchanges involved in that crash literally go offline every evening and on holidays/weekends and nobody cares. In fact, if the exchanges had gone completely offline during that time period, it wouldn’t have even made the news because there wouldn’t have been a place for those trades to occur.
- it didn’t cause a trillion dollars to get wiped off the economy any more than my friend transferring a share of Apple to me for $0.50 causes a trillion dollars to get wiped off of the economy.
- nobody gives a shit about a “congressional hearing”. Do you realize how many congressional hearings tech companies have been pulled in front of now? A hearing != action and if you think otherwise, there has been significantly more “congressional action” over tech companies in the last couple of years than financial companies.
> If you think Twitter has a problem with adversarial clients connected to its network I think you don’t understand the modern financial market.
Show me the public IP address of NYSE or whatever major financial exchange you want that I can connect to from any IP in the world. If exchanges were open to the world, they would get DDoSed out of existence in a heartbeat.