You've hit it on the head.
Seems to be a slew of downtime issues in the Oregon area.
Frequently check the @BungieHelp Twitter for updates, as there's no word from them yet.
[url]https://twitter.com/BungieHelp[/url]
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At first I was thinking it was just me having crap luck getting online, but after scrolling various social sites. Lots in the Oregon area are being affected by this error code on all platforms