Poloniex & Steem Dollars ? ANY INFORMATION ABOUT THE HANG' ? hf19, anyone ? (A token reward will be given for a very convincing explanation.)

in #crypto-news7 years ago (edited)

hardfork19 ?

Poloniex

Poloniex has come in for some criticism lately... for a while. All kinds of rumours and theories about DDOS at sensitive trading times when huge market dumps mean traders on the platform missed out on equally huge sales / profits ! Some suspicious minded people have put their recent problems down to over stretched resources and memes abound about them upgrading their raspberry pi, arduino servers, etc are indeed hilarious if a bit worrying (no smoke without fire / throw enough poop some of it sticks.)

Coin Suspensions

Coin suspensions have largely been put down to forks and glitches with individual coins, but hf19 & SBD / Steem suspension does seem a little bit convenient considering this weeks surprise bounty. My 8SBD has all but disappeared. One way to deal with it is to just power up everything and or / wait for NVO / EtBits to come onstream.

Trollbox Abolished

Just recently the trollbox disappeared on Poloniex in favour of more support staff. The box was getting a bit FUD Madness to be honest and a lot of yellow cards and indeed red cards were being issued. (Ihonedstly don't know how anyone can process 100 comments per minute? )

Also there were a lot of angry people constantly harassing the mod box about support tickets not being answered at all or resolved for going on weeks, (people giving up) & it was obviously, particularly about withdrawals. A lot of troll box user accusations of their thoughts that it was all fixed, they were maybe going bust or simply not able to cope, put this important part of the blockchain market under extreme strain and may partly explain why they chose to shut this pandora's box of worms.

So the box went. Poloniex have largely seemed to keep quiet about all the problems ( the best or most foolish PR strategy ?) and one assumes they are trying to address the issues. They have a very lucrative business.

INCREDIBLY SUPER BUSY

They suddenly went from super busy to INCREDIBLY SUPER BUSY in a matter of a couple of months and when you consider how much trade volume, it's easy to see how they could have been caught out by sluggish systems and bitcoin beginning to chug slow

SO ! hardfork 19 came and I dropped $8 in to poloniex.. it would usually appear instantly and 10 hours went by. I opened a ticket.. (still no answer as yet) then I had a further look and deposit / withdrawals for SBD and STEEM suspended.

source = @mindhunter

Penny Dropping ? (pardon the pun)

By now I'm thinking you guys are f*cked or this is a dodgeball . They know / knew hardfork19 could / would bring a lot of activity. So have they a) slumped under the weight while the Matrix resets or is this b) further evidence that Poloniex is using unorthodox practices to someone's (not yours or mine's) benefit. I'd like to think they're just not able to cope with the volume and the hardfork implications.

INFO

Any information on this would be appreciated. I even asked a friendly steembod if they knew anything about it. All they could tell me was it definitely went through to Poloniex steem account and my memo was correct ! have you seen the poloniex wallet on steemit ? you could run a government department on it ! Perhaps if Poloniex actually maintained a steemit presence I wouldn't have to waste all evening posting this !

ANY INFORMATION about the hang' would be useful.. links in replies will be gladly accepted if you find anything out. I won't be giving away $10,000 rewards but I may be persuaded for a token $2 or 3 or more depending on the quality of the information / response

Advice Given

@mindhunter said don't trust poloniex... as have others. I always kept an open mind as it's really easy to use and generally I hadn't had any problems before.. I was going to anyway but I took his advise an opened at bittrex.. After getting used to it's very different interface ! I'm loving it actually even thought volumes and trades are smaller it's nice and fast.

https://imgur.com/srvobWd

Future Options

I just wonder if the DECENTRALISED NVO will be a better option ? once it's established.. It won't be based in the USA ! The Crowdsale has 5 days to go if you want 50% of the fees in your own back pocket.. ok a very smal percentage of 50% of the fees but if it takes up Poloniex slack, it might equate a minimum wage ;)

NVO 1.jpg

Sort:  

All I can say is lots of folks moving from Poloniex to Bittrex

at least that's positive, for bittrex at least ! trades are slower to complete though on lower volumes .. it's a much better looking suite

I'm on Bittrex now but still have lots of coins back on Poloniex - guess it's sort of the "granddaddy"

so what's the plan ? are you just leaving coins on polo ? or are you going to attempt to power them down (pardon the analogy).. it certainly looks a bit old school. I thought it was ok, but the competition is growing and if they can't meet the demand !!> ?

there are so many platforms out there - I got a VPN so could use ones that ban US residents - I'm on a bunch whaleclub, simplefx, 1broker and bunch more

realized forgot to answer your question = yes will leave coins on poloniex because don't want to pay cost of moving

spreadsheets galore ! I'm in the UK so for the time being, with brexit etc, this country is going Panama style

ok - help me out "panama style" what does that mean?

sorry dude.. so the last prime minister made a huge error and put a referendum vote to leave the EU.. leave won / (just) so the UK is heading out of our biggest market and LONDON's financial clout, is in jeopardy.. banking makes a shed load of tax revenues..

so the current government, desperate to generate wealth in the event we look like we're going bust is to drop corporation tax way below EU levels, which are pretty much in line with each other for stability..

so corporations come here and pay 10% less tax on billions.. a sizeable sum. Lots of business is done in Panama for the pretty much zero tax rates and a lot of shit has hit the fan as leaks have shown that loads of individuals and corporations have offshore fronts in Panama and other low tax islands !!

so it's Panama Style bit complicated answer but hope that makes sense ;)

thank you for sharing

Had my eye on DECENTRALISED NVO for some time! Gonna feature it in the Daily Dose soon. Excellent article @outerground. Resteemed!

Cheers Dude, nice resteem.. I think NVO is a winner. based on this simple fact. Most Crypto traders are a bit paranoid anyway :) token share sounds appealing. I think it will NVOT will rocket post crowdsale

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