Is Poloniex Playing Hide and Go Seek? | @freethink Tuesday June 27th, 2017| Post #1
I lost 25% of value in my holding on Poloniex within the past 24 hours. I didn't trade. I am just on vacation in Spain. Everyone says don't leave your coins on an exchange, but I had been hearing bad things about Poloniex the past few days, horror stories about people trying to withdraw and transactions taking as long as 10 days with over 2,000 confirmations on the Blockchain but still no transactions executed and no acknowledgment from support.
Fine don't leave your money on an exchange, but how do you get it to and from a wallet when you want to trade and the fees are getting excessively high and you risk getting your coins trapped in transaction limbo?
This made me want to do research about the best way to get my money off Poloniex, all the while people were frantically trying to get their funds off the site and making prices go down from their panic selling.
Now I am looking at Ethereum spiraling down
I am looking at my Bitshare holdings dipping as well and seeing all of this red and hearing all this bad news and the only thought that comes to mind is.....
!!!BUY!!!
But there is absolutely no part of me that wants to do this on Poloniex. I look at that chart and I also think...
Is Poloniex playing hide and go seek with my money?
I mean what the hell is BitcoinPlus? I imagine why it's up is due to the fact that Poloniex is temporarily disabling the crypto favorites of the past few months so there is a subtle manipulation happening where they create incentive for you to invest in OBSCURE COIN FLAVOR OF THE DAY. I don't know; maybe Bitcoin Plus is legit, or maybe people are just trying to find ways to get their money out.
How and why are Steem Dollars Running
I am on vacation in the south of Spain right now.
The view from my home office is beautiful.
You can even see it better in a live video version in the intro of this video I made for @vmsolutionsltd
Everything is beautiful except my Poloniex Balance and it seems like the sky is falling but because I haven't been following all of the hysteria for the past week I can't tell if this is standard consolidation and an opportunity to buy or if this is a legit concern.
Is Poloniex playing hide and go seek with our funds forcing us to move crypto to the coins they dictate by temporarily disabling deposits and withdrawals using the cryptos we prefer?
Was removing the Troll box a part of silencing verbal dissent on their own site?
And what the hell is this about?
Please tell me your thoughts on all of this in the comment section.
Enjoy your holiday mate by the time you come back it will be back there if not more, take some pictures of some babes at the beach and send us pics :)
Oh don't worry. Those pics are definitely coming in post 2 or 3.
i always kinda liked polo. bittrex has been ok. sucks theres not much to trust. im glad coinbase is nice to all those who lost though! thats a great player of trust in the game even though their customer service is mehh
I am desperately trying to get all my funds out of polo. Its taking a while, because I can only withdraw $2000 worth per day, despite putting in a request for tier 2 verification over 5 weeks ago, and having a support ticket open for 2 weeks, I haven't even had a single acknowledgement to it.
Whether this is just shit customer service or not, I'm voting with my feet and off to Bittrex.
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I've been waiting for a SBD withdrawal for over a month, for a small amount but still, support don't reply, I would like to withdraw everything from the account but am apprehensive until my first withdrawal is complete
Exactly. Why have everything in limbo! I think you are wise to execute piecemeal withdrawals. Over a month? And support ignores you. Dang.
update - my late withdrawal was refunded to my account today so all good
No! They're playing Marco Polo...
I lost 25% of value in my holding on Poloniex within the past 24 hours.?
Exactly how did you lose this money?
I lost it by laying on the beach with a dead phone battery instead of watching Poloniex like a hawk....not trade necessary, just panic.
ETH crashed some people lost over 100K when they got margin called.
gotta watch your shitcoins.
Probably from the prices dropping dramatically.
That is exactly what happened.
Hi @freethink,
I had the same question that @grey580 had: What did you mean by losing 25% of your holdings? Okay so your tokens are still there, it is just that their value relative to USDs, for example, has dropped. Yeah, maybe they have lost their purchasing power but were you going to use them to purchase anything in the immediate future?
Perhaps, future token purchases will be kept on a paper wallet you control. Okay. And future purchases will be via a variety of platforms, with a variety of methods. Everything is so fluid these days. Even when you find a "good way", the elements of the way can change over time and at any time. Even when we least expect it.
Probably depressed prices is an indicator to buy, but not on Poloniex and also not buying all in one place.
Things are moving so fast and...it's a bit wild-wild-west-ish.
it's not like any of this stuff is insured against loss/theft. No problem. We accept that and trust in the sharing of information and reputations to keep us out of trouble, or at least out of repeated trouble with any low brow types.
Enjoy your vacation. Better not attempt to move your Poloniex stash in one fell swoop but in small increments over time. Having tokens/funds in limbo--leaving one ledger but not arriving in another--can be maddening, even if we know ver well that all some entity has to do is shut down some satellite(s) and we are all out of luck and in the dark. lol.
Seriously, I feel your position although I am not in it. There really isn't much you can do, except wait it out for Poloniex and if you find an ATM that will accept national fiat and put digits in the appropriate paper wallet, maybe that is the way to go if you want to buy more crypto.
Best wishes and more beautiful days in Andalusia or wherever you are. It looks like paradise.
Sincerely,
Niamaat aka Teacher Nia aka Prima Nia
English Language Coach and
Translator (Spanish to English)
P.S. “Be great because nothing else pays.” -– Grant Cardone
Polo sucks. When I first got into crypto I lost my ass on there. Polo is like a forex market, youre playing against the bitcoin price, not the USD you bought the crypto with, that is much more stable in value. In any case, thats why you set up a limit sell, so you dont lose your ass.
Cryptopia, bittrex or kraken. No others. Sorry man this sucks.
Yeah, I have been hearing that, but I also remember when they said that about Poloniex compared to BTCe.
Exactly. Everything is in flux all the time. The good become the unreliable.