BREAKING: POLONIEX Can Take Your Funds And You Can't Stop Them
Surely it is not possible for a person or entity to simply waive their legal obligations, simply by just using a website. Poloniex seems to think that they are able to exempt themselves from US laws with just a few sentences.
Whether this is legal or not is beyond me. Thus far, the consensus seems to be no, it is not. In-fact, the very mention of this may if anything be damning to POLONIEX should a(nother) class action ever actually take place.
What are your thoughts?
WIll you continue to trust POLONIEX with your funds? I myself use many different exchanges, but have moved most of my crypto over to Bittrex from POLONIEX, but that could be short lived because I have been hearing good things about Cryptopia.
Just ... use ... the ... DEX ... Bitshares ... FTW
I stopped using Poloniex a while back and feel they are shit.
That is NOT because of the user agreement, all user agreements suck if you read the fine print.
Also I would never leave one on exchanges, only put them on there from a wallet to do trades.
I may move funds to Bittrex too. I wonder why they are putting this in...hmmm
Those types of terms of use as far as preventing class-action lawsuits, and agreeing to binding arbitration in place of legal hearings is actually pretty standard.
Yep, you aren't giving up your rights for law suit, you are just going to do so in a place that is not the court house. But hey, there are no american courts anyway.
Why aren't you keeping your funds on a (1) hot wallet, (2) paper wallet, or (3) hardware wallet? If you must use an exchange to ... well, exchange, then get your crypto the hell off-of that exchange as quickly as your transaction is done.
(The above is not to be taken as advice.)
This is merely what I'm doing for myself.
Upvoted you, follow me if you'd care to at @joe.nobel.
The timing is wonderful, right?
Still, this is the kind of crap you will also find in just about any credit card agreement or cell phone contract.
"Agree not to sue, or else..."
Get out, get the fire brigade out and stay out! there are other good exchanges out there, why piss about with a risky one?
why are you guys devoting poloniex. are you planning to takedown the site
I don't know where these specific provisions fall, but in the US, EULAs that are deemed to be unreasonable are consequently unenforceable. Again, I'm not a lawyer so I don't know if this would be considered unreasonable like giving up ones rights would be.
Great advice dan0ss I will stay on bittrex for now, but I will check out Cryptopia too.