There is something going on with bittrex. I think i may have just lost the $30K i have there.
this is a continuation of the post here https://steemit.com/bittrex/@sigmajin/bittrex-acting-super-shady-1250sbd-in-limbo-for-over-an-hour
I wanted to post to a wider audience, because i think something is going on and not just with me. You can see my story on the above post.
But after that, i realized that theyre not proccesing any WD's at all. They havent sent out a really anything on their wallett to anyone except polinex. What it looks like at least is that theyre getting money on here, then transfering it to polinex, and simply not sending anyone WD's. I hope im wrong but this really looks troubling.
https://steemit.com/@bittrex/transfers
In my opinion, bittrex isnt safe at this point. Im not sure if theres anything @ned and @dan can do to prevent it from recieving more funds, but it feels like something bad is about to happen to me.
testa
test 2
1
cross-post to my response so that everyone else can see it as well: https://steemit.com/bittrex/@sigmajin/bittrex-acting-super-shady-1250sbd-in-limbo-for-over-an-hour#@stoner19/re-sigmajin-bittrex-acting-super-shady-1250sbd-in-limbo-for-over-an-hour-20160719t205901157z
Good job with the flag. Turns out i was right, though, just FTR. I have to wonder about the motives of someone whos trying to cover up problems in an exchange where others are putting their money
FYI, i just did a quick, small 11 steem WD and it seems to have worked. I hope im just being paranoid, but i cant think of why they would be on here funneling out their money to polinex and not proccessing withdrawals
I think it might be users initiating those transactions, since Poloniex just started to list STEEM. That's just my speculation, though.
in the interest of full disclosure..... when i first saw the above reply from @bacchist, i figured he didnt get what i was saying. TUrned out, i didnt get what he was saying.
my assumption was that in order to move funds from polinex to bittrex and vice versa, one would move the funds from the first exchange, to their account here, then send them to the other exchange, from their account here. So sigmajin moving 500 from bittrex to polinex would look like two transactions, a 500 transfer from bittrex to sigmajin then a 500 transfer from sigmajin to polinex.
However, Using the memo, you can actually save a step, transfering your funds directly from excahnge to exchange. On the wallets here, it would look like a transfer directly from bittrex to polinex.
Realizing this, Its pretty clear that the huge amount of transfers going from bittrex to polinex was users moving funds on deposit at bittrex to the newly opened exchange. Obviously, it was not bidirectional at the time because most users already had money bittrex and wanted to get it on the newly steem-accessible polo.
Though i admit i misinterpreted this, i invite anyone to look at the bittrex wallet at the time when i made this post. At this time, practically every outgoing transfer, and an overwhelming portion of their outgoing volume over several hours was to the polinex exchange.
When you have not one but two withdrawals in limbo, with no explanation that is troubling. When you see a mass exodus of funds out of the wallet youre waiting for money from, that seems sinister
https://steemit.com/bittrex/@sigmajin/psa-bittrex-is-currently-unable-to-reliably-proccess-withdrawals the conclusion of this post.
I see they process transfers just fine and they just transfered you some STEEM, how are they not safe?
well, theres still 1250 SBD outstanding, and theyre not asnwering support. ANd theyre sending all their funds to polinex.
I imagine they are swamped with requests but I think they will pay off. I don't think they will steal the $$. I surely hope they won't :) for your sake.
I hope everything works out for you. It happen to me using blocktrades. It took hours but I got my money.
I still haven't got an explanation from them or a refund of the remainder of my Steem. They did not respond to my last email. I've taken my business to Bittrex and Poloniex instead until they explain what happened.
Maybe it's time to implement side chains because this manual stuff doesn't work so well.
In my opinion Bittrex is the most solid exchange in crypto. Unlike YoPonzi and other exchanges the team at Bittrex have an excellent support staff and will work with you to resolve any problems. Just talk to the guys via Slack or IRC and they will help you out.
Unless you can absolutely prove that Bittrex is in the wrong i just have to say your rant is bullshit slander.
I mean i posted pics... what are you saying that theyre edited? DO you want a screenshare or something? you can see for yourself that the transactions arent on the chain.
I get that youve worked with them and you trust them, but if it was a person that got money, then walked away without sending what he was supposed to send, then dropped out of contact, youd call them a scammer in a second
generally i would chat live with support first.
DUDE, did you realilze, that you have to click the email confirmation if you want to withdraw from bittrex? i had 0.1 btc there and just withdraw it without problems!
that rule is only for people who hate money and want to have their money stolen. (which is to say, people who don't use 2FA)
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.
You guys have been doing a great job. So far you've recovered the hacked accounts quickly and are well on your way to quickly fixing another monetary issue that other engineering teams would have let bittrex and blocktrades take care of instead of getting involved in. Keep up the great work and steemit will surely be huge.
I wrote the conclusion linked below before i read your post, though i was expecting it after my conversation with B-B.
I stand by everything i said in all three posts, and i stand by my reasoning. What im going to say next, i hope youll take as constructive criticism and not as an attack or accusation.
Read the press release mtgox put out when they suspended withdrawals. Now read your post above. Notice how theyre almost exactly the same.
All cryptos are different, (and if you look at my history, Ive written about why i think yours is better than nearly all of them) But liquidity is the one thing people absolutely demand from a crypto currency. At some point you have to start stringing together multiple day stretches where people who want their money can get it with no rigomarole or nothing else at all will matter.
Just for the record. A week ago I sent 633.547 STEEM to blocktrades and got only less than 0.9 BTC for all of it. No coherent explanation from blocktrades but I assume that Steem is lost. On the other hand I sent 46.852 SBD to Bittrex which went through perfectly, and 366.030 STEEM to Poloniex just today which went through perfectly.
yeah, i noticed that they had a really weird exchange rate going back from steem to btc for a while. I came really close to doing the same thing but i caught it just in time. i was going to post something but im sure they have an army of sychophants too and i wasnt in the mood to argue.
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