Calling on Steemit Inc and Witnesses to Fix This Major Problem!

in #steemit2 years ago

Exchanges are blind to STEEM and SBD Deposits and Withdrawals are not functioning.


Source: https://steemit.com/steemit/@penguinpablo/daily-steem-stats-report-saturday-september-29-2018

This is a Major problem that has been going on for almost 2 weeks. It started when the STEEM blockchain had a problem and was down for a number of hours. A patch was rolled out to the nodes and the STEEM blockchain was started back up.

The problem is that Exchanges run their own STEEM nodes to keep track of deposits and withdrawals. They have not upgraded to the latest software and gotten their nodes in sync. A week later the STEEM hard fork has taken place. The exchanges presumably haven't upgraded to the new blockchain. Are they even aware that there has been a fork?

This is a serious problem. People need to transfer STEEM and SBD that they purchased on an exchange to their wallets. Why? because it is not safe to store currency on an exchange. Now people are unable to store any STEEM or SBD that they purchase on the exchanges because the exchanges are unable to transfer STEEM and SBD. People will not be willing to buy STEEM or SBD on an exchange because there is no way to transfer it to a wallet.

What is worse is that many Steemians have already deposited their STEEM or SBD to these exchanges and those exchanges are blind to those deposits. Those STEEM or SBD deposits will remain in limbo until the respective exchange gets their node back in operation. If you have a deposit stuck in one of these exchanges, it is imperative that you voice your concern by messaging @steemitblog aka Steemit Inc.

I am calling out witnesses and Steemit Inc to address this massive issue.

@ned
@andrarchy
@steemitblog

If you are voting for any of these witnesses, please reach out to them to remind them that this needs to be corrected.

@gtg
@timcliff
@jesta
@good-karma
@roelandp
@someguy123
@aggroed
@ausbitbank
@blocktrades
@smooth.witness
@lukestokes.mhth
@curie
@followbtcnews
@anyx
@clayop
@cervantes
@xeldal
@thecryptodrive
@utopian-io
@pfunk
@drakos
@riverhead
@abit
@yabapmatt
@bhuz
@pharesim
@liondani
@busy.witness
@furion
@netuoso
@teamsteem
@therealwolf
@themarkymark
@reggaemuffin
@blockbrothers
@ihashfury
@patrice
@aizensou
@arcange

Please Upvote and Resteem to get this important message seen.

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Exchanges are aware and working on it. But they always take their time. https://blocktrades.us/ is working as always :)

So if you need your STEEM right now I guess the only way is to sell it on the exchange against Bitshares BTS (because they have almost no fee) and convert them into STEEM over blocktrades.

Thanks for the response @reggaemuffin. Is Steemit Inc supporting the exchanges to get their nodes back in operation?

From what I know Steemit Inc. is always in contact with exchanges but not allowed to say anything about it because exchanges are very easy to displease and like to give out no information :) But there are people more knowledgeable than me who might have more insight.

The problem of exchanges maintaining a node is getting worse and not better.

Many months ago, there was discussion that there was going to be a truncated version of STEEM node software tailored for the exchanges. This way the exchanges wouldn't need to run such a massive node and it would be very easy to sync.

I wonder why that never was accomplished?

@reggaemuffin all the time read and support us, great person :D
Thanks for the answer :)

Thank you for raising awareness on this major issue ! Take cade

Posted using Partiko iOS

I hope this awareness gets to Steemit Inc and they correct the problem.

wow!

I also have some in exchanges :( But after all with the SBD so low I'm not willing to sell so ..

The problem is people deposit their STEEM or SBD on an exchange. If the exchange's node is down without the user realizing, then the deposit goes into limbo where the exchange isn't aware that there has been a deposit. It won't show up in the users account on the exchange.

Here are examples of what has happened in the past.

Poloniex node went down for 6 months starting at the end of January 2018. A few months back, Binance node went down for one month. HitBTC node went down at the same time as Poloniex and HitBTC has never gotten their node operational.

The problem is serious.

The exchanges could take weeks, months, years, or never get their nodes operational. If the exchange never gets their node operational, then those deposits are forever stuck. The users will never get their currency back.

A pretty good example, what a terrible EVIL are those centralized exchanges. The sooner they disappear - the better for the crypto world.

The problem with decentralized exchanges is the incredibly slow speed at which they can operate and the insanely low volume. Centralized exchanges can be good if they are operated properly.

One way to deal with exchanges that ignore STEEM is just to create an exchange where STEEM is the central trading pair. Check out one of my old posts that explains why it would be good for STEEM https://steemit.com/steemit/@socky/steemit-inc-must-build-an-exchange

Totally agree with your idea, because steem transactions are so fast,and in the exchanges everything goes different, with STEEM and SBD as central trading this would change EVERYTHING, I'm in love of that idea, spread it out, maybe someone like it and came up with it

Thanks for posting this socky, this is a major problem. We have seen Binance down for over a month and now Bittrex? I really wonder if they will take a sit and wait position because of patch 20.4. I am sure that they are concerned about the stability of this patch. I think many here, me included are also taking this sit and wait position. I will post and vote as much as I can, let’s get Steemit back and make it better!!!!! 😎
Resteemed

My understanding is we are already on 20.5
Additional patches may still be coming.

I didn’t know about that, but posting/voting are reacting differently this morning. Thanks for the continued info, that is our weakest link not enough communication. 🙃

Thanks for the post. I have steem sitting in anothers person’s account because they can’t send it to me since the crash two weeks ago.

I looking to put more cash into the system. I hope this issue gets resolved soon.

I'm in the same boat. I can't move any STEEM that I wan't to buy on my exchange. Thus no powering up...

Agreed. I have tokens on Open Ledger and Bittrex that I would like to do something with. :(

Hopefully, they fix it soon.

Exchange nodes have been down before, but this the worse I've ever seen. The ability to keep nodes running should be getting better and not worse. There is a fundamental issue that needs to be addressed.

thank you bro for your nice post...

I bought some STEEM the other day, not realising that the exchanges were down. Luckily I only tried transferring a tiny portion of it because I was uncertain if after HF20 it would work or not... would really like that steem in my account, powered up, where it belongs! Come on Bittrex!! :D

Lets hope it gets back on line soon!

Thank you for sharing this very important information content.
You have my support. Greetings.

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