Poloniex Will Credit BCH to BTC Holders By 8/14/2017
Read the statement here.
Unfortunately they waited until after the fork to announce this, and the coins will come too late to take advantage of the currently inflated BCH price. Don't be fooled by the going rates on BCH: each exchange is a closed system without the ability to deposit or withdraw (yet). Once the deposits start coming in, the price will temporarily dump. My guess is that it will then pump afterwards due to Chinese miners flooding hash power into BCH to dump it again afterwards, but we'll have to see about that.
Poloniex has faced a number of rumors of insolvency over the last few months because of slow support response times, limiting withdrawals, issues with trading SBD from steemit, no BCH announcement pre 8/1, and an exchange outage yesterday. I've been using it as my main exchange due to higher loan rates than other exchanges, but I've been steadily moving my funds off and don't plan on moving them back unless 3 conditions are met:
- The BCH crediting process goes smoothly.
- They raise my verification to tier 4 so I can more easily deposit/withdraw money quickly.
- Loan rates are better than other sites.
As of now none of the three conditions are met, so once I can withdraw the rest I'll be taking a break from them indefinitely. Hopefully they can start taking steps to regain trust of the community -- which is hilarious considering they were not hacked like Bitfinex and don't have the shady reputation of Coinbase.
I'm going to post a longer blog series about my thoughts up to and after the fork, but I want to wait a few days to let some more dust settle before doing so.
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like an idiot I sent about $20 USD of DNOTE to @poloniex earlier (partial mining profits from a multi pool i was trying out) all the coins that were sent to @bittrex (GAME, DGB, AUR) all appeared within 2 minutes, been 2 hours now, still no DNOTES. @poloniex can eat a d*ck imho
and it might even screw the market like gox, tho i pray it doesn't 🌞
all these exchanges regret not supporting BCH because it had so much success
I wouldn't call it a success... yet. It has to prove itself over the coming weeks and devs need to start using it to be really legit. They only reason why exchanges are "supporting" it now is because they don't want to get sued for unjust enrichment.
Amazing news!
Where's their desire to fix the disabled coins?
Upvoted & RESTEEMED! :)
Great write up, BCH looks worthless but gives me BA! Wondering if you suffer from blockfolio addiction too? - https://steemit.com/cryptocurrency/@cryptocoinclub/confessions-of-a-blockfolio-addict
Coinbase and Poloniex have sucked this year. They didn't have nearly this many issues in the past few years but as their websites are overloaded they can't keep up. I only use CB to purchase and then immediately send out. I also keep a very small amount if anything on Polo- they have such lame tracking software and no tools for their charts.
Coinbase announced the same thing today, but they projected the BCH wouldn't be available until January 1.