Poloniex Disables Steem Transfers = SBD Blocktrades Price Hack (Fixed)!

in #poloniex4 years ago (edited)

poloniex temporarily disables steem thumb.png

Steem and Steem Dollar deposits and withdrawals are temporarily disabled on Poloniex driving prices artificially high especially for Steem Dollars which is up to 0.00066150. Meanwhile, the price on Bittrex was 0.00058146 when I started writing this but now after all I bought up to 0.00063620. Guess which price Blocktrades was using at the time I posted this?

Poloniex Steem Dollar to Bitcoin.png

steem dollars to bitcoin on blocktrades.png

It seems Blocktrades within an hour of me posting this stopped sending transactions out until they setup a new exchange with liquidity! Now six hours later they have it pegged onto another exchange which might be Bittrex. My hope in posting this was that someone at blocktrades will see this and it seems they have!

What I did before the fix:

  1. Buy Steem Dollars with Bitcoin on https://bittrex.com/Market/Index?MarketName=BTC-SBD
  2. Send Steem Dollars to https://blocktrades.us/
  3. Change Steem Dollars to Litecoin on Blocktrades because Litecoin has the deposit confirmed within 20 minutes of the initiation of the withdrawal meaning 20 minute turnaround time.
  4. Sell the Litecoin to Bitcoin on Bittrex at https://bittrex.com/Market/Index?MarketName=BTC-LTC

Before I have even finished posting this, the market has corrected mostly by the price blowing up on Bittrex because of me and other traders buying all the SBD they can with seeing the price on Poloniex. I am grateful I earned a total of $799.73 doing this today in a couple hours.

price adjustment.png

small price difference on Bitcoin.png

Update 20 minutes after posting! This system is still working as more sell orders come in on Blocktrades! I am making about 2 to 3 Litecoin every 20 to 30 minutes! New Steem Dollars sell orders are in driving the price down making it worth about 10% on $1,000 or around $100 just to cycle through one transaction on Blocktrades! As to why Poloniex disabled Steem and Steem Dollars, I am not sure! If you know why, would you share in the comments because then I will update this post to include that?

Update 1 hour after posting! Blocktrades switched the exchange they were using for liquidity and is working at the right price again! If they have to do it manually every time, this will continue to be available for any future imbalances.

Thank you for reading this! If you enjoyed this post or found it helpful, would you please upvote this 100% because that helps motivate me to keep giving you more like this each day?

Love,
Jerry Banfield

Sort:  

Any news abut it?

sent 16 steem about 14 days ago, one day before they switched off the wallet, nothing has arrived so far.

I'm not even open the ticket, 'cause I think it's kinda useless action for now.

Send SBD to polo and nothing in polo almost 30 min!

You can transfer now

Steem Power and beyond.. lol

Nice one, I think is better to turn right ^^

great post

Really awesome post....

How to make a months salary in just a day! This is an incredible loophole, I'm sure it's going to get patched soon! Thanks for this post @jerrybanfield

Amen to that buddy..fired up and ready to go...get them steem and power up!!! win win for all, Upvoted and following you. We gonna turn steemit to a rocket and power it up!!!

Yes. I am beginning to Believe!
LoVe

Very good post, i love when you said in a yt video, Jerry none of these posts are short-_-

I don't think you realize what you mean to me
Not the slightest clue
'Cause me and you were like a crew
I was like your sidekick

Love, from sweden

I was just able to get my STEEM from Poloniex. I think the wallet is working. Get your coin and Run!

Nice bit of arbitrage you caught.

Any idea when Poloniex will reenable the Steem wallet? I'm wanting to power up more lol..

thank you.

meep

Lol

meep

Except coke and hookers!!!

I hope u like it
Steemit MONEY making strategy and TRICK.......it's kind of HACK steemit
https://steemit.com/security/@kaiju/steemit-money-making-strategy-and-trick-it-s-kind-of-hack-steemit
S1.jpg

This gave me a good laugh. Poor Mark!

So true!

Haha I agree, upvoted..we will attack Polo with steem power and take over..hahaahs
Good one @jerrybanfield keep steeming bro

I'm gonna slap Poloniex 😂

Yeah I need to get my Steem out of Polo so i can...Power up!!

@ikegass33 I sent my little steemies to Bittrex and then to Steemit. Bittrex seems good so far -after 3 transactions. LoVe

I'm just waiting to see the Poloniex blog pop up with millions of Steem Power behind it... Hopefully nothing shady going on here!

More likely to be powered by troll power!

@jerrybanfield
Damn, I missed it. Got to keep an eye out for your posts!

Also ETH deposits and withdrawals which is even more concerning imho

Whoa, very interesting! I look forward to your posts Jerry! Keep up the good work!

Just like the Ether Crash....i missed out on it :(

I hope u like it
Steemit MONEY making strategy and TRICK.......it's kind of HACK steemit
https://steemit.com/security/@kaiju/steemit-money-making-strategy-and-trick-it-s-kind-of-hack-steemit
S1.jpg

@paco the rumor is -things are going to be priced low until the Aug 1 BTC Spork clears. hopefully a season to relax and build ? ^ LoVe.

Thank you i will keep that in mind. I'll keep building my Steem account gain. I once had over 50k but i sold i fear of it becoming a scam. lol on me. :(

@Jerrybanfield, well spoken my friend! I noticed yesterday that Poloniex Disabled Steem but I never thought to consider writing an article about it! Thank you for bringing this to everyone elses attention!

haha>>>>NICE

Jerry, Boy-O-Boy!!! How do you find these tecnical faults so fast? Great job to act fast and take advantage. In the last two weeks I have noticed many exchanges pulling fast ones on ALL of us. The whales are working together to profit max and dump leaving the others hanging. Perfect example: AMMO. Take a look at what they have done to this great coin in the last two weeks...

https://coinmarketcap.com/currencies/ammo-rewards/

@watchout2017

Domi

hmmm thanks for the information! XMR was also temporary disabled a couple of weeks ago....

I hope u like it
Steemit MONEY making strategy and TRICK.......it's kind of HACK steemit
https://steemit.com/security/@kaiju/steemit-money-making-strategy-and-trick-it-s-kind-of-hack-steemit
S1.jpg

The Art of Arbitrage.
Have you seen this film yet with Richard Gere.
It's very good. Watch it with your wife if there's time.
image

I'm done with poloniex is so slow there and shady site

keep doing good job Jerry :)

The bigger question is why have the wallets been down on poloniex since the fork? We can't get out of our own way price wise!

It's a TRAP!

Yeah, I wanted to withdraw my Steem from Poloniex but the wallet is offline for days now -.-

This is the main reason why you should Not leave your coins on an exchange .

Are there any cold wallets that can hold steem dollars without converting them to bitcoins first?

Hi, i upvote you. I shared my first post in steemit. please help me to grow by upvote and resteem or promote (if you like)

Thanks

Hi, i upvote you. I shared my first post in steemit. please help me to grow by upvote and resteem or promote (if you like)

Thanks

I hope u like it
Steemit MONEY making strategy and TRICK.......it's kind of HACK steemit
https://steemit.com/security/@kaiju/steemit-money-making-strategy-and-trick-it-s-kind-of-hack-steemit
S1.jpg

Why ?? If its in exchange why would it be? Can some one explain thiscin detail

Im bad for leaving my cryptos on exchanges
When i install wallets my comp crashes

Right time increase steem power....

Thanx for information ....

Polo has quite a reputation.

Damn! I kinda like it though. Lol.

Good trick! Make that money!

@jerrybanfield great post! Probz from germany

Hey,

I hope this will dissolve within a few days, because this is not okey. Thanks for sharing.
:) Steemit is a Best

I think one of the reasons why Poloniex disabled the STEEM and SBD withdrawals and deposits because of the hardfork update. They did this may be as an added protection if the hardfork failed. (I forgot to link where I read this about.)

do you even sleep . amazing job once again

I hope u like it
Steemit MONEY making strategy and TRICK.......it's kind of HACK steemit
https://steemit.com/security/@kaiju/steemit-money-making-strategy-and-trick-it-s-kind-of-hack-steemit
S1.jpg

wow. interesting !!!!

it happen since the Hardfork day,
I heard that Poloniex not has not been as good as before this is a nice subject to talk about and spread among the communit

once again you are amazing bring this up Thank you!
]url.jpg

I follow u and vote u.
plz follow me and vote me.
thank bro

I liked your posts following you too ;)

hello andyluy I just upvoted you and following you please follow me here is a handy tool https://steemvoter.com/

Same here, no problem bro

Hello kyawswarlin I follow u and vote u plz follow me and vote me thanks buddy
here is a handy tool https://steemvoter.com/

one more think @jerrybanfield recently i read about a misterious event that should happen involving The MIT and the Litcoin, are you in to it too ?

I'm still pretty new to all the brand new CriptoWorld so i Would like to get as much information from as Much People "Wise Veteran" that i can,
I already Ask about it to @inventor16 and he Kindly answered me that It is Probably not a big deal.
What do you think ?
on post about it:
https://steemit.com/ltc/@acassity/mysterious-litecoin-project-was-announced-today-on-mit-website

And just remebering I would not be here if wasn't for you Jerry I will be eternal gratefulimages.jpg

nice..

I follow u and vote u.
plz follow me and vote me.

Hi, i upvote you. I shared my first post in steemit. please help me to grow by upvote and resteem or promote (if you like)

Thanks

the power of social media :)

I will try your method

Thanks for sharing @jerrybanfield, you are the master of manipulation!

I follow and vote u.
plz vote and follow me back.
thank

Wow, some inefficiencies in the markets! Thanks, Jerry

Wow #suprised. @ poloniex disables steem transfer.
Well as i will always say leaving valuable cash in exchanges anit safe cos they can always do and undo.

thanks for teaching us your techniques. It's FX trading and not for the faint of heart. I'm not in the trading game, but I do appreciate your efforts to educate people on your profit
making method. Admirable and not greedy!

I follow and vote u.
plz follow back and vote me.
thanks

I hope u like it
Steemit MONEY making strategy and TRICK.......it's kind of HACK steemit
https://steemit.com/security/@kaiju/steemit-money-making-strategy-and-trick-it-s-kind-of-hack-steemit
S1.jpg

Arbitrage....very nice!

I am not very patient so i keep going back and forth with pulling my funds out of poloniex and putting them into Bitrrex in order to get more steem in my account here. Hope they fix it soon.

hi jerry i m your big fan i watch all of your videos your are really working hard on internet you are awesome :)

Hi, i upvote you. I shared my first post in steemit. please help me to grow by upvote and resteem or promote (if you like)

Thanks

You gonna be flagged for your spamming and you chasing people away from you.Try to find better strategy. Just advice.

thanks for the advice

Nice. Don't hurry man. You still early. You have enough time. Try with good comments. Rewards and followers will come if you do good job here.

So I watched you video after coming home from work, too late. Thanks for the tip

Incredible. Just like arbitrage through diffrent exchanges. Good post. I still see the price diffrence. Always wondered if any arb would be possible.

Jerry,

Do you regret selling your Dash node. That was guaranteed income. I would of kept it and found another way to build my steem account. Just my 2 cents. Good luck on this platform.

Ah hem. I dont know JB personally but listening to his stuff I would say he mentions the sale frequently. However, you can never underestimate your gut. There is more to life than profit. He does report profiting from the sale, so why not just be happy with that? If he wouldn't have sold, maybe he would have never done some other things --- there are infinite possibilities and we cant always know the reasons and consequences of everything so we just have to do our best and keep recreating -but most imperatively, continue returning to LoVe

Smart thinking! To those thinking of doing this be wary as a sudden price influx could leave you in the red, but as they say no risk no reward

It has been corrected already.

Steem forever ! Upvote, resteem, follow me

Poloniex is afraid of the power of steem

yes. Steem is ExTrEmeLy P O W ER F U L!!!!!

Arbitrage!! There is soooo much opportunity in the crypto markets for this! you can really make a living off finding it and exploiting it! Well done Jerry!

steem is tryna make people easy for living in some kind. steemit power more super

though if fixed already :) thank you Jerry

Bro you are just good at this,i'm learning a lot from you.keep up the good work

That's a great hack. If you went a little slower I might of been able to duplicate it.

All will be right with the steem world... not playing poloniex game.

@blocktrades, just pinging you to make sure you're aware of this.

i think if you pay good attention to the market you will find there hakes like this one.

Say what you want about this guy, he knows how to make money

I definitely appreciate the content you provide! A lot of information about Crypto's would probably sneak right by me if I didn't learn about it from your posts or videos. Thank you @jerrybanfield!

I would just like to say that you partially influenced me to get on this network man! Glad to be a part of it and I'm following you for sure. Keep it up and Steem on! CHEERS!

Btw. Amazing how detailed your posts are. Nice!

Hi Jerry i am good fan of you. i like your post and video's on you tube. you are the person who convince me to join steemit. thanks

i shared my first post. please help me to grow by upvote and resteem or promote (if you like)

The power of STEEM, is a curious thing! Make a one man weep, make another man sing! Change a heart to a little white dove,. More than a feeling, that's the power of STEEM!

Good and proper action. That is why worth to check multiple exchanges and act fast. Brilliant move!

thanks for updeating us iam careful now.

I follow you and vote you.
please follow me and vote me

The digital world is a haven for cyber criminals, it's not wise to leave your money on these exchange web sites.. Often times we hear hackers hacking there networks and causing the price to crash some what.. It's best you use them make what ever exchange u making quick and fast then take your money off as soon as possible..

Amazing post..
Honestly we are all unique and we all have much to show and much to strive for.
Cheers for the good post and much love from me.. image

Yeah, I had my money stuck in poloniex for 5 weeks 😂😂😂... lots of shaddy stuff going on 😳

@alla8931 oh that is such a beautiful profile pic!

It is a great but scary new world I'm living in. Thanks for the info!

I follow you and vote you.
please follow and vote me back

I hate Poloniex 5 days sand they have still not actioned my withdrawal.

everyone is frozen

Tried trading on Poloniex. It's super slow! Wouldn't recommend it anyways. I understand the impact that it could have on the value of Steem but other platforms will surely jump on board once they see the true value of this thing. It has nowhere to go but up.

thank
I follow and vote u.
please follow and vote me back

I made money out of it !!!
20 % with SBD just in 10 minutes !!!


and I will tell you HOW !


Instructions are here : https://steemit.com/steem/@insteadofmoney/how-to-make-up-to-20-with-sbd-in-10-mins-try-it-while-window-is-open

@jerrybanfield
OMG !!
Why no post of it from big people on steemit yet?
Now you are the man.

Any how, with your earlier YouTube video, I opened account on Bittrex. Left polo and looking forward to Bittrex.
I am following you always.

Thanks for the info.

I follow and vote u.
please vote me back.
thank

@jerrybanfield steem disabled on polo due to The Big Fork 19 ? This idea was not my own. LoVe

@jerrybanfield - awesome post! 799 in a day you are truly blessed -and you are sharing your wisdom freely with others good man. AND I LOVE how you say I love you at the end of some of your videos ! So, how ddid you do this?
LOL - I need to read it a few times I think. LoVe