90 Days and Counting and Still no STEEM Deposit on Poloniex! Warning for Fellow Steemians: Guest Post By Dreemit's Husband
Poloniex killed the Trollbox the day after I sent a nice chunk of STEEM and SBD to their exchange.
I was in the Trollbox that very day complaining that my STEEM and SBD hadn't arrived. The funny thing is, that it wasn't just me. There were dozens of people yelling about lost deposits or withdraws that never arrived. The dozens turned into more, and more. The next day the Trollbox was silenced. How many of those people are still waiting till today for resolution? I don't know, but, I do know that I'm still waiting on my deposit.It's been just over 90 days since I sent STEEM and SBD to Poloniex, and it still isn't there. Why?
This was before Steemits hard fork 19 that may, or may not, have caused some problems. This was also way before Poloniex started putting their ominous warning for STEEM and SBD exchanges.
What is the problem?
I'm not sure. But, there has been a very suspicious change in the "Terms of Use" for Poloniex. It reads essentially that Poloniex has the right to cancel any coin at any time for any reason. Too bad if you hold some of those coins on their exchange. If you agree to their new Terms of Use, and by using their site you do, then you are bound by agreement to lose any coin at any time. The only recourse? Arbitration. Something like a quasi court, not a real court where maybe one could sue for loss and damages. Odd huh?
Read here: https://poloniex.com/terms/
Why would anyone still use this service? More precisely, why would any Steemian still use Poloniex? Their exchange is obviously broken and in trouble.
Here are some alternatives:
Bittrex: https://bittrex.com/
HitBtc: https://hitbtc.com/
Blocktrades: https://blocktrades.us/
So, what will I do? Mostly just wait...and hope. But, you will notice on the image above that a reservation of rights was written to be included in the ticket. I'm not telling you to do the same, but, if you have some STEEM or SBD lost in the limbo that is Poloniex, maybe a reservation of rights would be a good idea. Who knows what STEEM and SBD will be worth one day. Maybe it is wise to leave yourself a way to recover your losses? Something to think about.
Here is the language of the reservation of rights that I wrote:
"For the record, I DO NOT agree with your revised "Terms of Use" as to the matter presented in this ticket and any matter that remains unresolved that occurred on or before your revision to your "Terms of Use" dated 8/1/2017 A.D.
Continued use of your service will be done out of necessity as to not incur a loss of property.
Thank you for understanding."
Well, that's it. Rant over. But again, why would anyone still use Poloniex?
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If anyone has a similar story, please share it in the comments below
Generously created for me by @son-of-satire
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I forgot, what's Poloniex again? :)
Ha! I'd like to forget...after this I probably will :)
I have 40 Steem on Poloniex and have noticed similar issues with trading and withdraw of STEEM. I hope you are able to get your money and this post has made me reconsider using Poloniex as my exchange of choice. Upvlted
I would definitely advise against continuing to use them. We're out hundreds of steem, and at the time of the exchange steem was worth well over two dollars.
Ouh no, that sucks totally. Did they showed you the message of maintenance like they do now? I am using only bittrex for trading STEEM. I would like to see decentralised exchanges soon for trading steem and all graphene based tokens. I know you can buy STEEM on bitshares, but the liquidty is not provided.
No, we were in the first wave of people this happened to, and we'd been using it all along with no problems until then. But because my husband's been noticing that people are STILL using them, he wanted to make a point and hopefully save others the trouble.
Very good, the price for STEEM is also different at Poloniex. Thanks for clearing it up.
Poloniex has been notoriously bad about Steem and SBD in the last few months. Thankfully I don't use them anymore, but this bears repeating and I'm resteeming this to share with the people following me. H/T to @clayboyn for resteeming this post to me.
Yup, they definitely have been, we were in that first wave sadly, so no warning as it was working just fine until then.
I appreciate that, I hope it stops others from making a mistake :) @clayboyn is awesome :)
Polo is garbage... I am thinking they are in serious trouble with lost funds or some other way. I hope you end up with a refund!
Appreciate that Greg :) At this point I'll be surprised.
I have willed my remaining Steem, if ever recovered from Poloniex, to future generations of Gants.
It's been over four months. They say I can have it if the wallet starts working.
So I wonder if anyone from Steem.it has taken up this issue with Polo. (?)
Ha! I hear you.
Great question, maybe someone will see this post and let us know :)
I thought they opened up their steem and sbd wallets again but I guess not. I'm glad that when this first starting to happen I took everything off Poloniex and ran for the hills. Nowadays I only use bittrex as that is the only reliable one I know and one I have been using for a while.
Hopefully this new witness update will cause them to be able to start trading sooner but it doesn't look like things are going to get better any time soon @dreemit
From what I understand they have opened it for new transactions in the time that we've been waiting. All of us that we're apart of that time period are still waiting, and then there have been other shut downs in between. Bad business, all the way around.
Yes, bittrex has been safe so far.
I doubt it will get better with poloniex, but people need to know, especially since, as in your case, many might think they've turned things around simply because they were functioning again, meanwhile there are probably hundreds of us still waiting for months.
That sounds frustrating.
Yup, super frustrating. Even if they returned it now it would be worth half as much as it was at the time.
I am glad when I was weighing up which exchanges to use I looked at the shiny shiny of bittrex and the clumsy eighties graphics of Polo and made my decision soley based on aesthetics! :OD
Haha! Actually, the reason Howie used poloniex was at the time they were the ones doing the most volume, the fastest etc., we had no problems until suddenly everyone had a problem.
Damn problems. I remember there was a time that there weren't any problems. However that in itself proved to be a problem and it all just snowballed from there
Ach! Sorry to hear that, Howie! Charge it to experience, I guess. Just don't give up on getting what they owe you then transfer them the first chance you get. I was lucky to have chosen Bittrex from the get-go. I haven't experienced any trouble with them. Fingers crossed that I won't ever need to write a post like this in the future.
Yeah, bittrex has been fine so far, and unfortunately poloniex had been just fine until that happened. Howie has just seen that people are still using them and thought he could hopefully prevent this from happening to others.
Thanks my friend!
I got my SBD after 20 days there and then I left it and now blocktrades is much faster and responsive for me. Poloniex is really a big shit.
I could not have put it better ;0)