Poloniex removing actively traded coins? what are your thoughts?

in #trading4 years ago (edited)

Polo's delisting list "On 9/5/2016, the following markets will be delisted: ABY, ADN, BITUSD, CNMT, DAO, DSH, FIBRE, FLT, GAP, GRS, HYP, IFC, LQD, MCN, MINT, MMC, MNTA, PIGGY, PTS, SILK, SWARM, WDC, XC, XCR, XPB, XUSD, YACC."

Yes we all understand when an exchange removes dead/stagnant volume coins that don't even get 1 btc of volume in a whole week or month, It can suck when a community is still actively working on a project but it is understandable of course.

But this is very different, this is an exchange trying to play "god" by removing coins that are actively traded. If they don't like/respect community/trader coins then don't buy them, not everyone chases the pumped volume and hype trains, every coin doesn't have to be about "trying to take BTC's spot" or being the latest hype train to crash and lose everyone's money, some are simply community/trader coins...

Call them "shitcoins" if you like as many do, but remember it is just an opinion. Just like it is some people's opinion all "Proof of stake" coins are scams/shitcoins not matter the project. While others see "Proof of work" coins that have all the big rewarding blocks at the beginning as scammy (as I do)

If someone with too much money goes to deep on a lower volume coin will they f#ck themselves? yes, but that is their own fault for not doing their own research and reading the market correctly... it doesn't make it a scam, it just means they read the market wrong and should learn more before diving in.

Poloniex is doing a real disservice to it's users and cryptocurrencies in general and showing it's users a complete lack of respect.

Polo's response to my support ticket.

"We list and delist coins for a variety of reasons. If there's a new coin you'd like to see on the exchange, please submit a coin request."

Why the f#ck would anyone request to add a coin to an exchange that has zero respect for it's users or the coins/communities it has listed if they will just remove them for no reason whenever they feel like it?

They have lost a ton of legitimacy and respect in my eyes

If you hold/trade any of the coins being delisted please make a support ticket on polo to try and stop it. I have held/traded MINT since it's start and have done extremely well with it over time with strategy, So obviously I would hate to see it removed. As well as HYP, I haven't been trading it long (less than a month now) but it has had stable volume the entire time, has a very active community with a 300+ page active thread, over 2 years of life and still going strong... WTF polo !?

#communitycoins #shitcoins #poloniex #bittrex

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Thanks for sharing this information, I like what you posted.

Thanks, it makes me respect the way Bittrex has always done it that much more, If a coins volume goes stagnant they warn a community... the community either becomes more active or it's coin is removed, fair as can be.

So you are trying to tell someone else what they can and can't do with their exchange? Quit trading there... sounds like you have to if you want to trade those coins. Maybe there is more to it than a couple btc in volume... server load, maintenance times, blockchain storage, network overhead, i bet someone is paid more then a btc a month to maintain those wallets... alot of things go into cost analysis...
If you don't like it, why don't you make your own exchange?

It would be nice to see shapeshift developed more and take over the trading of these coins. What we need is decentralized exchanges not more bitching about what any particular centralized exchange does or does not do. Really this is just another example of why centralization needs to go and why we need projects like SAFE (www.safenetworkforum.org and www.maidsafe.net) to get rid of servers and the middle man. But it also highlights other projects like www.shapeshift.io or www.bitsquare.io

uhh. maid doesnt really work that way <.<

Poloniex has every right to list and delist, I think Volume is a good measure, but not the only measure. I think active teams should also be considered. At the end of the day, it is their exchange, and you should trade elsewhere if you don't like how they are running it.

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I still have over 267K of Q2C coins on poloniex and it was delist some time ago, and I have only got back into crypto from taking a long break in 2015 and those coins are now worth $4000 usd lol and are stuck in my account balance , how sad.. :(

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