Celebdaq down

Celebdaq broke today.

The site says that the dividend payouts were incorrect and that they needed to be recalled.

Unfortunately (like many others) I had spent my dividends before they shut the site.

This of course massively complicates matters.

People buying shares affects the market, so simply taking back each incorrect dividend and not correcting the price would affect others as their own holdings went up/down.

Rolling back to pre-payout would seem simplest but that would assume they had a backup of the market at the exact point that payouts started (Thursday midnight), and that’s a big assumption.

Even then, they still have to fix the payout algorithm.

I can only imagine what it must be like there now for their techies.

Heated debates, caffeine-fuelled coding sessions, cancellation of weekend plans, discussion of pizza toppings. Serious stress.

I don’t envy them.