PSA -- Bittrex is currently unable to reliably proccess withdrawals
This is the last post im going to make about bittrex. The only reason I am making this as a seperate post is because i think the new information is too relevant to bury in comments. This is a continuation from these two posts. If you want to flag this, go ahead. But its the truth, acknowledged by a bittrex employee.
https://steemit.com/bittrex/@sigmajin/bittrex-acting-super-shady-1250sbd-in-limbo-for-over-an-hour
https://steemit.com/bittrex/@sigmajin/there-is-something-going-on-with-bittrex-i-think-i-may-have-just-lost-the-usd30k-i-have-there
I was finally able to reach a bittrex employee, bitrex-bill, on their slack. This was his explanation of the issue (quoted at the bottom)
So basically, exactly the same thing mtgox said when they stopped sending withdrawals. There are technical issues. Youll get your money soon. The devs are working on it. Now maybe this is true, and maybe it isnt. But, for a moment, lets give b-bill every single benefit of the doubt. Lets assume that he is our savior come back to earth and capable of neither dishonesty or error. Even if we do that, and assume that he keeps his word 100%, and never had anything but the best of intentions, All of the following are true
1--They continued to accept deposits knowing that WD's weren't working dependably.
2-- Two out of the past 4 days, withdrawals were not allowed at all. Apparently, on the days that withdrawals did work, they did so haphazardly. This is a liquidity problem. If the previous 4 days can be used as a bellweather, if you put money in theres only about a 30% chance youll be able to get it out if you want to. Now, if youre ok with this risk, more power to you. But its something that is very troubling and that everyone should know before trusting this exchange with their money.
3-- Regardless of whether or not effected customers get their money back-- actually wait were giving him the benefit of the doubt ignore the regardless --- though effected customers will definitely get their money back, they have been harmed by having their money held for no reason. I have like 35K that i can't trade. And again, i have no way to get it out. I could try to withdrawal, bu tthen i have no way of knowing if the rest of my money wont follow the first 1500 into the great limbo. Thats a pretty shitty position to put someone in, espcially when the fault is theirs. WHat happens if the value of these SBD decreases by 30% while they were sitting on it.
I give bill credit for talking to me, but its tough to give him any more credit than that. Short of "I scammed everyone im the dao hacker" i cant imagine what he would say that would inspire less confidence.
If you walk away from this post with anything, it should be that your ability to withdrawal the funds you put into bittrex is not secure or guaranteed. Its subject to "technical problems" that the devs are working on (and have been for months) but have not yet solved. And these technical problems have a negative impact on your money, well thats just a burden youre expected to bear.
If youre comfortable taking that risk, more power to you. But at least now youll be able to weigh the pros and cons for yourself.
And just as a by-the-by. If the pro... i mean since we know for a fact the problem is precisely what they say it is, they could have saved a whole lot of headache for me and probably a lot of other people with a 5 minute post from one of their employees with accounts here, which would have certainly made several thousand dollars because theyre well known cryptos-guys.
bittrex-bill [2:51 PM]
we've had transfer issues from the STEEM wallet the the devs are aware of and working with us on. its been happening for months but its terrible today due to transfers going to polo. so sometimes they go through, sometimes they have to manually get sent againn. so it isn't a surprise that for a single user, a transfer will work, then a few seconds later another transfer wont, or vice versa.
but they will get transferred.
Ned and Dan will make a public statement in support of Bittrex shortly. they know the pain we've been going through supporting STEEM the last 3 months. :slightly_smiling_face:
Hi everyone. This problem is not limited to Bittrex. There are legitimate technical challenges being faced by the Bittrex and Blocktrades teams. We are working with them to resolve the issue as fast as possible and improve your experience. Thanks for your patience. We know personally how hard the Bittrex team is working to make sure your experience is great and Steem is successful on their exchange. Thank you all.
Thanks for that information. Glad you guys are on it.
Can confirm I have just moved a decent amount of BTC, SBD and BTS into and out of Bittrex, no issues.
Please get your facts straight.
As @ned has pointed out on all of your threads, this situation is present for anyone running the STEEM wallet.
-richie@bittrex
1.weird, ive been trading bitcoin for years and never had this problem(you don't even have to take my word for it, ive traded multiple times with your buddy opticbit, before i distrusted and blocked him this afternoon based on his association with you).
Occassionally interesting altcoins, too.
I gotta wonder what the point is of having a distrbuted ledger that isnt accurate... The whole point of crypto is you send a transaction and the transaction is sent, with a public record and everything.... thats the whole point theres none of this "check is in the mail my sla is 24 hours" nonsense.
that said, i got the facts, such as they are, directly from your coworker bill (im sure you can confirm with him) . These are his exact words: " sometimes [transfers] go through, sometimes they have to manually get sent againn. so it isn't a surprise that for a single user, a transfer will work, then a few seconds later another transfer wont, or vice versa."
Now ill admit that he never specified any particular percentage failure rate, but i dont think youd find very many people aside from @stoner19 who would read that statement and think that hes describing a system where transfers work correctly 95% of the time..
2.No, it wasn't a pause during the security incident. It was two pauses during two security incidents. Im just specifying this because i want to make sure all the facts are straight, per your request. You can justify it however you like, but by the numbers, even ignoring the whole "5%" thing, youve had 50% uptime. I have an atari 800XL that does better than that. .. which brings me to
3.Isn't cutting edge technology supposed to preform better than regular old normal technology, not worse? Like, you don't hear people saying "Hey check out my new ferrari its a cutting edge car. It only works 2 days out of 4, and 5% of the time when it is working it explodes when you turn on the headlights." thats not cutting edge, thats just cut-up. Thats what i love about tech people show them any bug and theyll try to sell it as a feature.
I've never had any kind of major issue with this exchange. And definitely none that I've ever had to contact them about.
I had the same problem twice today with SDB transfers, but got fast responses.
Each time a support ticket was answered pretty quickly, and the funds returned to my account. Hourly and even same day service is rare when things are going wrong with wallets, so I thought I would post a good review too.
It only seems to be happening with SDB transfers.
i cant confirm.
i have send around 5K to bittrex and withdraw them without problems.
holy hell, progress! After 6 hours or so, the $750 wd finally showed up. so now im just waiting on the 500, then i have to figure out how to get the 5300 steem out. I don't suppose anyone here would be willing to buy it off me at a discount.., id take maybe 10% off... but youd have to buy the acount, then its your problem to try to get the money out.
I don't have any other tickets open; if you think you are still missing funds, please make sure you cut a ticket to us.
god.. are you seriously this thick! I already submitted a support ticket for the funds that are still missing, I did not have a ticket out for the funds i got.
And no, im not complaining about a six hour turn around for support, im complaining about a 6 hour turnaround for a withdrawal.
EDIT: OK, i get it. I attempted to withdrawal the funds, the transaction was "orphaned", so you put the funds back exactly where i don't want them, on bittrex. Perfect. Just absolutely perfect.
SO this 6 hour turn around youre so proud of is 6 hours to get me back to status-quo-ante so i can roll the dice again.
This is a rare issue, I have done about 50 withdrawals over the last couple days and only a very small fraction of them did get temporarily locked up.
So to answer your point:
No need to do that when the majority of withdrawals are working fine. Why halt trading for 100 users if only 1 user is having issues?
And to reiterate my point made on your other post:
I share your frustrations in having money locked up, but there's really no reason to fret over it. Just remember that crypto is play money and you shouldn't trade what you can not afford to lose.
I do agree though that posting a public statement of the ongoing issues would have been a good idea.
@scrawl... well, i have a pretty OK sample size. 5 withdrawals and 2 failed. Also, bittrex bill and ned both strongly implied that this is effecting many. I mean fair enough if its only effecting a few people, but then there shouldnt be that long a line to get it fixed.
And no, its not a matter of what i can afford to lose. Its a matter of what im willing to lose without a fight. Thats nothing at all. Years ago, when i was still gambling for a living, i got cut up pretty bad defending the 20 i had on me in the parking lot when i had 3 grand sitting in my car. Im not the sort of person who counts the cost when im defending what belongs to me.
INcidentally, if you take a look at @stoner19 s posts, youll see that hes a long time supporter of bittrex. Certainly his right. But youll also see that he has flagged multiple, entirely true posts ive made about technical problems effecting liquidity on bittrex. You have to wonder, why try to cover up the truth.
To be clear, they were flagged because of the false accusations you were spreading about Bittrex, not at all because I am trying to "hide" some kind of coverup theft ring going on. I fully understand the frustrations with this, as it has happened to me as well with other altcoins. I'm only trying to help prevent and misleading information about the exchange. As @ned clearly pointed out in a reply to your thread it's not an issue on Bittrex's end. I'll gladly remove the flags if your issue has been resolved and we can let the threads die.
So mature of you to go and flag my other posts that are irrelevant to this issue. Hope you feel better.
Every single statement i made was provably true. 20 steem right now if you can quote one statement I made that was false. this where hell start to equivocate... but at the end of the equovication, the story will be the same. The truth was unflattering, so he wanted to hide it.
That statement right there in the title of this post https://steemit.com/bittrex/@sigmajin/bittrex-acting-super-shady-1250sbd-in-limbo-for-over-an-hour alone is spreading untruthful information about Bittrex. @ned, @bittrex-richie, & @bittrex-bill have all spoken with you regarding the situation.
ned et al posted after i wrote the title. you can't use time travel to get there.
The first relevant dictionary definition I could find of the word shady is "of doubtful honesty or legality".
Fact: I made a withdrawal.
Fact: Bittrex, on my account page, indicated that the withdrawal was complete.
Fact: The withdrawal was, in reality, not complete.
Fact: Bittrex, at the time i made this post, had offered no explanation for this discrepancy
Indicating that a withdrawal is complete, when in fact it is not, then failing to offer an explanation of the discrepancy is an action that would cause someone to doubt your honesty.
Now, if I had said "Bittrex is super shady" rather than "bittrex is acting super shady" you might have an argument.
D-... i shipped you 10 for effort though, and put a note at the top of the post you indicated. Offer is still on the table this is fun
crickets? really. I thought youd at least try to twit the meaning of something ambiguous, or go all existential and debate the meaning of truth..
Horray! SO they successfully proccessed 1250 of my 1750 in withdrawals... so 71%... i guess its not as good as 95% but its cutting edge and all, the rest were sent back to my bittrex account. So, anyone interested in buying a bittrex account? It has like 5300 steem and 695 SBD. Estimated btc value according to them is 35.720btc... asking 90% escrowed on LBC. That is a floating rate, if my assets go up in the mean time the price goes up. But its basically free money if you believe youll be able to get it out.
steemrolling the post.