P2P Lending / NFT Lending Forum

Lending Club Discussion => Investors - LC => Topic started by: WES on August 19, 2013, 11:00:00 PM

Title: LC website crashed?
Post by: WES on August 19, 2013, 11:00:00 PM
"An error has occurred, it has been logged and will be addressed as soon as possible.

Incident ID 1377018601419"

For the past several minutes. Anyone else today?
Title: LC website crashed?
Post by: Randawl on August 19, 2013, 11:00:00 PM
Same.

Lost my order in progress, too! 
Title: LC website crashed?
Post by: Dennis on August 19, 2013, 11:00:00 PM
Ditto here, can't get logged in.

????????????
Title: LC website crashed?
Post by: Amelia on August 19, 2013, 11:00:00 PM
Me too :-(  I guess we're all getting on the same schedule  ;)
Title: LC website crashed?
Post by: william on August 19, 2013, 11:00:00 PM
Yup!
Title: LC website crashed?
Post by: TonySaunders on August 19, 2013, 11:00:00 PM
Me too. Nice to know it's not just me.
Title: LC website crashed?
Post by: ThinleyWangchuk on August 19, 2013, 11:00:00 PM
I called in... The CS rep. is having the same issue.
Title: LC website crashed?
Post by: Lovinglifestyle on August 19, 2013, 11:00:00 PM
Same here.  Also had order in progress.  Interesting!
Title: LC website crashed?
Post by: TravelingPennies on August 19, 2013, 11:00:00 PM
Lets make bets on how long this takes to fix lol.
Title: LC website crashed?
Post by: TravelingPennies on August 19, 2013, 11:00:00 PM
And it's fixed. That was fast.
Title: LC website crashed?
Post by: investforfreedom on August 19, 2013, 11:00:00 PM
Same thing.  I suspect their system was overloaded with tens of thousands of investors, institutions and individuals alike, scrambling to take a piece of the pie at the moment the listings were out.  With some big investors gaming the system, it causes even more investors to try to front-run one another at these times.
Title: LC website crashed?
Post by: brycemason on August 19, 2013, 11:00:00 PM
Peak load by design.
Title: LC website crashed?
Post by: bdbdbd1 on August 19, 2013, 11:00:00 PM
Yes. Lost my order.
Title: LC website crashed?
Post by: TravelingPennies on August 19, 2013, 11:00:00 PM
Who else is slowly realizing that this party is over. Or maybe not "slowly realizing." It may be time to take my ping pong ball and go home.
Title: LC website crashed?
Post by: core on August 19, 2013, 11:00:00 PM
from: brycemason on August 20, 2013, 01:30:36 PM
Title: LC website crashed?
Post by: Fred on August 19, 2013, 11:00:00 PM
Quote"> from: brycemason on August 20, 2013, 01:30:36 PM
Title: LC website crashed?
Post by: TravelingPennies on August 19, 2013, 11:00:00 PM
Quote"> from: WES on August 20, 2013, 01:34:12 PM
Title: LC website crashed?
Post by: rlv99 on August 19, 2013, 11:00:00 PM
From LC venture capitalist's perspective, this is actually a "good" problem to have; much better than the opposite -- having no visitors to your site

No VC wants to see a business interrupted; especially one dependent on internet functionality. 

This "event" highlights the necessity for action on Bryce's thread.
Title: LC website crashed?
Post by: core on August 19, 2013, 11:00:00 PM
from: rlv99 on August 20, 2013, 03:14:26 PM
Title: LC website crashed?
Post by: TravelingPennies on August 19, 2013, 11:00:00 PM
from: rlv99 on August 20, 2013, 03:14:26 PM
Title: LC website crashed?
Post by: cfb on August 19, 2013, 11:00:00 PM
Quote"> from: WES on August 20, 2013, 01:34:12 PM
Title: LC website crashed?
Post by: TravelingPennies on August 19, 2013, 11:00:00 PM
Quote"> from: core on August 20, 2013, 01:38:33 PM
Title: LC website crashed?
Post by: rawraw on August 19, 2013, 11:00:00 PM
We have grown as investors just like LC will grow as a platform.  Give it a chance guys :)
Title: LC website crashed?
Post by: TravelingPennies on August 19, 2013, 11:00:00 PM
Two things that will reduce LC lender's demand, while simultaneously increase borrower's demand:

1. lower the interest rates
2. shift the origination fees from borrowers to lenders

Borrowers will flock to the site, lenders will complain, but equilibrium is in sight. ;)  In theory, equilibrium means more originations, which translates to more revenues to LC.

The current LC demand imbalance is a reflection of its reward imbalance.  Lenders are rewarded at a much higher rate than borrowers.   Lenders can get 6% - 16% more than money-market rates, while borrowers only get 3% - 8% lower than their credit card rates.
Title: LC website crashed?
Post by: GS on August 19, 2013, 11:00:00 PM
As I see it, the scheduled posting times are the only thing giving the non-computer-automated investors a chance to get a look at new loans.  When I have some cash to reinvest, I know that if I log on at a certain time, keep hitting "refresh" every two seconds until the loan number jumps up, then I'll hopefully get about 30 seconds to pick a couple of notes.  If notes were posted at random times, it's highly unlikely that I'd ever get a glimpse of a good new note before the computers detected it and gobbled it up. 
Title: LC website crashed?
Post by: TravelingPennies on August 19, 2013, 11:00:00 PM
from: Fred on August 20, 2013, 06:39:19 PM
Title: LC website crashed?
Post by: Rob L on August 20, 2013, 11:00:00 PM
I don't see how going to a 24 hour release schedule would do LC much good. It seems "the need for speed" being what it is would simply lead to a 24 hour pummeling of their servers. Unintended consequences and all that.
Title: LC website crashed?
Post by: TravelingPennies on August 20, 2013, 11:00:00 PM
from: Rob L on August 21, 2013, 12:32:04 AM