BREAKING: Poloniex delists a whole bunch of altcoins...
From the Poloniex site:
On May 2, 2017, the following will be delisted: BBR, BITS, C2, CURE, HZ, IOC, MYR, NOBL, NSR, QBK, QORA, QTL, RBY, SDC, UNITY, VOX, XMG
If you're holding any of these, you may want to check your holdings - and lots of users are dumping these coins as we speak.
QORA, for example, is one that we held - we actually got out 30 minutes after the announcement and were able to make a tiny profit over time. It dropped from 23 Satoshi (.00000023) yesterday, down to 16 Sat today and then, after the announcement, is now hovering around 10.
As always, buyer beware!
Looks like all these coins are just going out of existence. Anybody know why?
Can't speak to all of them, but it sounds like a few were just pretty dormant and never got mass adoption. QORA, for example, had a crazy amount of coins available - in the billions - but was only traded on Polo and some random Danish site.
I'd put them in the category of dot-com startups that crashed and burned, though they never even made it far enough to be compared to Pets.com or Webvan.
That's a good comparison, thanks.
That said, what was the harm of just letting them sit and collect dust? After all, they require minimal expense and effort to maintain.
You mean on Polo's part? Probably more pain than it's worth.
Could also stem from unknowns - such as relationships between the Biz Dev teams on the trading desk and those at the coins themselves.
Time to put all those shitcoins in Dopecoin.
Today's the day, isn't it?