Why I have stopped using Poloniex Exchange completely now. by thecryptofiend

witnesses

Why I have stopped using Poloniex Exchange completely now. by thecryptofiend

View this thread on: hive.blog | peakd.com | ecency.com

cryptocurrency · @thecryptofiend · Jun 29 '17

$355.10

Why I have stopped using Poloniex Exchange completely now.

http://i.imgur.com/ulxFpyV.jpg
<center><h5>I would rather not walk off the edge if I can avoid it.</h5></center>
___
<center><h1>Introduction</h1></center>
___
<h3>A while back [I posted about all the issues I had been having with the Poloniex Exchange](https://steemit.com/cryptocurrency/@thecryptofiend/poloniex-is-basically-broken-these-days-how-long-until-people-stop-using-it) and their appalling customer service.</h3>

At the time there were massive increases in overall Bitcoin and altcoin traffic - as always they used this as an excuse for the problems.


<div class="pull-right">

![ThinkstockPhotos-585520504.jpg](https://steemitimages.com/DQmSDgJszhqz5iSm51boMcCqXtDWmBBQkV64848koCxK1aX/ThinkstockPhotos-585520504.jpg)
<center>**The red flags are there.**</center>
</div>    

The thing I found strange were the many people appeared who appeared out of the woodwork to defend their terrible service.

**I found their defence rather dubious at the time since I have been using Poloniex from the beginning and such problems have been occurring on a fairly regular basis.**

Nothing has really changed in the last 3+ years.  They have the exact same excuses and they have the same terrible customer service.

As one of the biggest exchanges they can't really keep giving the same excuses time after time.  At some point increased traffic can hardly be a surprise and it becomes hard to believe.

**It just smacks of failure to invest or simply not caring about customer experience. Both are big red flags.**
___
<center><h1>From Bad to Worse</h1></center>
___

<h3>Over time the situation has actually become worse.</h3> 

The last time I used their support it took me 5 days to get a response - an eternity in the age of cryptocurrency.


<div class="pull-right">

![ThinkstockPhotos-656909864.jpg](https://steemitimages.com/DQmcGQzMLpLYcwHmjzKVNm1KQ4jxMALfmjcswCGudJG2YdP/ThinkstockPhotos-656909864.jpg)
<center>**Standard practice in crypto is to deny any problems then pretend there were no warnings.**</center>
</div>    

**Further they have now disabled their trollbox so you can't even try to escalate a ticket that way.**

They also seem to be having difficulty with Steem/SBD transfers to the point where it is causing all sorts of craziness on their market prices.


For those who are continuing to use Poloniex, my question would be:

_**At what point do you draw a line and say that you will no longer support an exchange that has so many problems?**_ 

_Is the size of the exchange and the interface enough to justify the risk?_

_(Remember MT GOX and Mintpal were also once the biggest exchanges in their day.)_

**I have moved all my trading coins off Poloniex now and will not be using them again unless they make some big changes.**

_Trading is risky enough as it is and I don't need the behaviour of the exchange to make it worse._
___
<center><h1>A Poorly Run Business Will Fail Eventually</h1></center>
___
<h3>Of course I expect a whole host of people will pop up saying how perfect Poloniex is and how they have never had a problem there.</h3>

Others will say they love the interface so much that they can't use another exchange.

**The funny thing is I have heard these exact same kind of responses when people were raising concerns about how other exchanges were operating.**


<div class="pull-right">

![ThinkstockPhotos-595110842.jpg](https://steemitimages.com/DQmQojHc5ZTCLfmmKZhj4W1Cy3J5By1Qy1WxFANn9rJUGtg/ThinkstockPhotos-595110842.jpg)
<center>**Crisis is inevitable when a business is badly run.**</center>
</div>    


The same thing happened with MT GOX, Mintpal, Cryptsy and many others.

**People were complaining of problems and warning others but the warnings fell on deaf ears.**  

Those who had not experienced problems did not want to hear about it - when people think things are going great they don't want to be inconvenienced by uncomfortable truths.

**Then when those exchanges failed they acted surprised as if there had been no warning - even though there had been ample warnings.**  

_It seems to me that if the whole business of an exchange is built on shoddy foundations and incompetence then it is only a matter of time before they make a colossal screw up._

Not only that it also seems when it does inevitably happen it is easier for someone within those organisations to simply take any remaining customer funds and run off with them.  

_All it takes is one bad guy on the inside to do it and if it is a poorly run business they will likely not have bothered with the added security required to prevent this._

**I don't know if anything like this will happen with Poloniex.**  

It could just be that they remain incompetent and have terrible customer service but I don't see why I should take the risk either way.

___
<center><h1>Conclusion</h1></center>
___

<div class="pull-right">

![ThinkstockPhotos-200299970-001.jpg](https://steemitimages.com/DQmZVUL7t9EDrfsqJM73EmiGrBS4Q1KJ9ZDw9zWAJfA9Bup/ThinkstockPhotos-200299970-001.jpg)
<center>**If you don't maintain a car it is not a surprise if it breaks down.**</center>
</div>    

<h3>Before many of the previous exchange failures occured there were huge warning signs weeks and sometimes months in advance.</h3>

**I liken it to a car engine that suddenly starts making a strange noise when it is functioning poorly.**  

Any sensible person would take it to a mechanic to find out what is wrong and get it fixed before it dies altogether.

**Unfortunately with an exchange we have to rely on the people that run it to get it fixed.**  

_If they have been unable or unwilling to do that then it makes sense to stop using it before it breaks down and takes your money with it._

**The warnings are there.  Whether you listen or not is up to you.**
___
<center><h1>Thank you for reading</h1></center>
___
![ThinkstockPhotos-586388038 (1).jpg](https://steemitimages.com/DQmRPFjA2NZfdceM28wPSCvHygoRzDmQkzAwsT4qSJaZdkZ/ThinkstockPhotos-586388038%20(1).jpg)
___
___
___
<div class="pull-right">
  
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</div>  


## <center>Are you new to Steemit and Looking for Answers?</center>

#### <center>_Please visit:_</center>

# <center>[Steemithelp.net](https://www.steemithelp.net)</center>

#### <center>A collection of guides and tutorials that cover the basics of Steem and Steemit.</center>
___
###### <center> _Follow me [Steemit](https://steemit.com/@thecryptofiend) & [Twitter](https://twitter.com/Soul_Eater_43)._ </center> 
____
<h6><center>_All uncredited images are taken from my personal [Thinkstock Photography](http://www.thinkstockphotos.co.uk/) account. More information can be provided on request._</center></h6>
___

👍 transisto, canadian-coconut, teamsteem, thecryptofiend, trafalgar, vortac, jackkang, fminerten, toxic, ezzy, bue, inv, steempty, nanzo-scoop, kyriacos, grognak, trevonjb, rea, englishtchrivy, webdeals, sweetsssj, inertia, chitty, gamer00, tradeqwik, bobbylee, lordvader, cornerstone, surfermarly, jamesbrown, somebody, oflyhigh, hanshotfirst, trevor.george, timcliff, mexbit, deanliu, jamtaylor, arthuradamson, cryptomancer, xiaohui, nextgen622, pharesim, pery, marius19, shady, zeartul, cristi, rubenalexander, ericvancewalton, luzcypher, phoenixmaid, peter.kim03, thylbom, scaredycatguide, da-dawn, son-of-satire, herpetologyguy, supermeatboy, ethansteem, dgiors, steem-id, lemouth, berkah, and 384 others

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`last_update`	2017-06-29 14:15:24
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jang	25,597,967,541	30%
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iplazzy	6,011,513,745	100%
williamgomez	2,810,181,139	100%
mandagoi	1,971,751,553	2%
cerejobastos	3,403,506,387	100%
etcbits	668,788,091	100%
freedomnation	9,781,855,715	100%
clysse	8,188,437,530	100%
bigpeopleareold	5,922,546,091	100%
pajak	4,093,449,180	100%
doqstrader	4,764,134,985	100%
rt395	4,215,488,769	100%
aleister	739,304,984	100%
aryan524	6,051,103,973	100%
gerko	1,260,356,941	100%
klint	1,576,152,201	100%
kryo	10,172,319,739	100%
gohba.handcrafts	462,918,285	12%
simms50	545,139,524	100%
jeffcirceo	964,242,016	100%
arqetype	8,627,651,492	100%
thethreehugs	0	100%
kumaran444	791,351,637	100%
s1010k	1,150,470,671	100%
ericarthurblair	2,504,715,082	10%
anforo	4,566,682,806	100%
wvm	8,639,110,952	100%
dejavu	4,272,290,789	100%
pedrombraz	852,167,990	100%
karnainali	611,592,497	100%
milanademort	7,266,236,672	100%
jose-alberto	1,291,861,030	100%
melowd	214,000,284	2%
rahulyadav	23,677,261,511	100%
charles1	6,685,847,870	100%
artedellavita	1,018,488,471	100%
nacktepoesie	495,610,331	100%
pakyeechan	6,605,751,965	100%
jimsparkle	6,780,513,975	100%
travelersmemoire	3,762,749,696	100%
titotips	1,228,658,448	100%
rycharde	3,386,843,526	100%
unspeakableme	480,857,488	100%
cryptoizotx	590,273,000	100%
berlinmoonlight	12,263,353,571	100%
keepinitcrypto	692,515,779	100%
carolynseymour	544,215,946	100%
mintsauce	3,711,832,528	100%
olekpopova	746,029,646	100%
dmb168	367,019,936	100%
dellasol	767,169,946	100%
fran.hardwicke	605,143,237	20%
exec	10,449,540,193	17.5%
eval	106,140,055	17.5%
mortaladin	621,340,000	100%
bitcoinflood	2,127,964,283	100%
stephcurry	1,361,628,556	20%
mindboggle	1,737,619,023	100%
parthajit12	775,252,220	100%
mastergreen	4,084,297,025	100%
jatala	1,143,297,915	100%
mehdibca	1,471,591,992	100%
mandello	609,437,129	100%
v0nd	1,134,963,886	100%
queeneleanor	1,286,049,295	1%
wbwillie	2,485,243,891	100%
sambo-rambo	120,279,242	30%
chedo	172,490,323	100%
drled	185,733,134	100%
ekan	122,126,405	100%
bronxb17	1,304,940,826	100%
jeffjulien	679,014,027	100%
slavix	1,160,790,454	100%
ch00fy	323,468,051	100%
dorman	1,684,698,330	100%
gregario	200,727,594	10%
cryptogaming	76,968,548	12.31%
punitchoudhary	149,788,303	100%
emag	1,286,434,061	100%
itissimple	571,533,293	100%
rcartax	1,762,602,916	100%
qamerjaved	273,849,239	100%
irfanullah	1,124,642,098	100%
crownsamuel	740,990,358	100%
rahdit	142,607,016	100%
steemjitu	737,913,782	100%
bek	714,872,208	100%
bettertogether	644,190,287	100%
steemboys	2,622,433,162	22%
imransoudagar	491,545,457	100%
evo69	1,138,096,900	100%
nawir	1,041,877,798	100%
unicorncards	1,021,416,952	100%
saithe	1,086,683,695	100%
gleeson.thomasr	1,213,172,691	100%
dannychickenegg	1,160,699,967	100%
daxed	2,276,973,955	3%
wickedcute	1,505,880,460	100%
displacer	1,012,311,577	100%
rodneyaspiras	52,231,449	100%
thebest1	174,104,810	100%
mrjohnson	1,425,254,390	100%
ulfr	12,085,304,192	100%
makrotheblack	465,585,418	100%
gopegrit	15,341,086,510	17%
sunlight2pwr	1,102,662,709	100%
manofaction89	179,908,117	100%
mrakun777	1,143,286,962	100%
cryptwarz	3,940,653,978	100%
hypertr0n	1,234,834,416	100%
coffeedrinker51	356,244,169	100%
yeobo	58,034,834	100%
anil777	52,246,240	5%
arlheena	255,353,193	100%
beatriz	0	0%
spartacrypto	1,033,019,508	100%
fenola	1,510,286,228	100%
najeeb07	1,160,695,462	100%
kidscom	125,614,357	100%
theawakensheep	649,988,899	100%
derekcrypto	899,538,105	100%
toplider	388,832,558	100%
fahrullah	0	100%
persco-pee	1,131,675,701	100%
zebbad	824,092,012	100%
minerturner	603,560,341	100%
allcapsonezero	1,079,444,207	100%
nekgate	1,143,282,233	100%
rondoncr	516,507,984	100%
sonu	104,462,288	100%
primzy81	824,091,375	100%
drorion	30,810,172,610	100%
mechsammich	568,738,989	100%
robertusa	1,160,691,659	100%
beautybycayleigh	98,669,328	100%
kamaljeet	574,542,274	100%
andres93	1,143,280,486	100%
georgef7	208,939,241	100%
sadra	112,034,966	100%
victordlr	992,390,202	100%
senate	1,143,279,762	100%
muhammadardian	829,893,368	100%
masterpuff	951,765,547	100%
waru96	301,779,317	100%
reza-shah	870,517,239	100%
xrypto	1,085,244,794	100%
rysbow	771,858,548	100%
news24	50,896,237	100%
christopherwalls	766,055,080	100%
qadrisafriza	760,251,564	100%
strugoleg	1,125,868,614	100%
skoorbr	1,149,080,701	100%
surbhi	1,120,062,777	100%
newrealms	0	100%
taongam	0	100%
aamir37	0	100%

@agaupt · Jun 29 '17

$0.20

There are a lot of unhappy people with poloniex. Thanks for sharing

👍 thecryptofiend, agaupt, middle-theory

`author`	agaupt
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t163919191z
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency"],"app":"steemit/0.1"}
`created`	2017-06-29 16:39:21
`last_update`	2017-06-29 16:39:21
`depth`	1
`children`	0
`last_payout`	2017-07-06 16:39:21
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.152 HBD
`curator_payout_value`	0.045 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	67
`author_reputation`	27,998,503,083,975
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	6,646,281
`net_rshares`	22,526,242,373
`author_curate_reward`	""

properties (23)vote details (3)

voter	rshares	pct
thecryptofiend	21,023,971,730	1%
middle-theory	469,255,122	1%
agaupt	1,033,015,521	100%

@alainite · Jun 30 '17

$0.18

Everyone on steemit

 ![the floor is poloniex steemit.png](https://steemitimages.com/DQmPG3vNXRvuqgmNsM1yHxq5axoPLaHttd3WnFdSToKXBYb/the%20floor%20is%20poloniex%20steemit.png)

👍 thecryptofiend

`author`	alainite
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170630t181834374z
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency"],"image":["https://steemitimages.com/DQmPG3vNXRvuqgmNsM1yHxq5axoPLaHttd3WnFdSToKXBYb/the%20floor%20is%20poloniex%20steemit.png"],"app":"steemit/0.1"}
`created`	2017-06-30 18:18:33
`last_update`	2017-06-30 18:18:33
`depth`	1
`children`	0
`last_payout`	2017-07-07 18:18:33
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.136 HBD
`curator_payout_value`	0.043 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	175
`author_reputation`	3,773,610,796,661
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	6,794,032
`net_rshares`	21,057,537,656
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
thecryptofiend	0 B		21,057,537,656	1%

@aleister · Jun 29 '17

$0.19

Oh :O i was about to begin a little journey in Poloniex when i saw your post... many thanks for sharing this information and for the advise, valuable content here...  is this type of content that i upvote and resteem without even batting an eye.  following you now for further wise advise :D

👍 thecryptofiend, middle-theory

`author`	aleister
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t154601799z
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency"],"app":"steemit/0.1"}
`created`	2017-06-29 15:46:09
`last_update`	2017-06-29 15:46:09
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`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	291
`author_reputation`	669,165,362,714,416
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	6,639,720
`net_rshares`	21,493,226,852
`author_curate_reward`	""

properties (23)vote details (2)

voter	weight	wgt%	rshares	pct	time
thecryptofiend	0 B		21,023,971,730	1%
middle-theory	0 B		469,255,122	1%

@andersokohler · Jun 29 '17

$0.20

I've stopped use Polo too.
Reason.. i was involved in BOTH insider scams of WRP/Ripple when the exchange froze and after 10 minutes when it all worked.. It was down 15% while "No one" had been able to trade.
I also saw in real time before that when a 100Btc sell order of Dash was eaten up  part by part during a minute .....while the price went DOWN!!!!
Its more fishy things happening over there ....... i say they are scammers.

👍 thecryptofiend, seveaux, middle-theory

`author`	andersokohler
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t205238852z
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency"],"app":"steemit/0.1"}
`created`	2017-06-29 20:52:39
`last_update`	2017-06-29 20:52:39
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`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.152 HBD
`curator_payout_value`	0.045 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	430
`author_reputation`	327,044,414,019
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	6,675,297
`net_rshares`	22,630,225,947
`author_curate_reward`	""

properties (23)vote details (3)

voter	rshares	pct
thecryptofiend	21,052,504,769	1%
middle-theory	469,255,122	1%
seveaux	1,108,466,056	100%

@thecryptofiend · Jun 29 '17

$0.03

It is possible.  They can pretty much do what they like.

👍 andersokohler

`author`	thecryptofiend
`permlink`	re-andersokohler-re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t213158057z
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency"],"app":"steemit/0.1"}
`created`	2017-06-29 21:31:57
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`body_length`	56
`author_reputation`	323,603,913,866,384
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
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`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
andersokohler	0 B		3,700,816,091	100%

@arcange · Jun 30 '17

$0.02

You have been mentionned in my hit-parade of 2017.06.29

Congratulations @thecryptofiend!
Your post was mentioned in my [hit parade](https://steemit.com/hit-parade/@arcange/daily-hit-parade-20170629) in the following category:

* Comments - Ranked 4 with 251 comments

👍 darth-azrael, darth-cryptic

`author`	arcange
`permlink`	re-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t163930000z
`category`	cryptocurrency
`json_metadata`	""
`created`	2017-06-30 14:39:30
`last_update`	2017-06-30 14:39:30
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`children`	0
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`curator_payout_value`	0.001 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	211
`author_reputation`	1,146,606,639,109,506
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	6,768,679
`net_rshares`	3,086,622,416
`author_curate_reward`	""

properties (23)vote details (2)

voter	weight	wgt%	rshares	pct	time
darth-azrael	0 B		2,639,400,965	7%
darth-cryptic	0 B		447,221,451	7%

@arckrai · Jun 29 '17

$0.19

I've done the same thing. I've been using bitterex as off recently.

👍 thecryptofiend

`author`	arckrai
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t142132101z
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency"],"app":"steemit/0.1"}
`created`	2017-06-29 14:21:33
`last_update`	2017-06-29 14:21:33
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`promoted`	0.000 HBD
`body_length`	67
`author_reputation`	16,610,122,450,873
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	6,629,474
`net_rshares`	21,022,728,259
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
thecryptofiend	0 B		21,022,728,259	1%

@thecryptofiend · Jun 29 '17

Me too.

properties (22)

`author`	thecryptofiend
`permlink`	re-arckrai-re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t143050814z
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency"],"app":"steemit/0.1"}
`created`	2017-06-29 14:30:51
`last_update`	2017-06-29 14:30:51
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`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
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`net_rshares`	0

@arorapuneet · Jun 29 '17

$0.20

Even I agree

👍 thecryptofiend, arorapuneet, middle-theory

`author`	arorapuneet
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t141811912z
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency"],"app":"steemit/0.1"}
`created`	2017-06-29 14:18:18
`last_update`	2017-06-29 14:18:18
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`children`	1
`last_payout`	2017-07-06 14:18:18
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`pending_payout_value`	0.000 HBD
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`body_length`	12
`author_reputation`	19,725,237,087,177
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	6,629,058
`net_rshares`	22,886,441,759
`author_curate_reward`	""

properties (23)vote details (3)

voter	rshares	pct
thecryptofiend	21,022,728,259	1%
middle-theory	469,255,122	1%
arorapuneet	1,394,458,378	100%

@thecryptofiend · Jun 29 '17

Thank you!

properties (22)

`author`	thecryptofiend
`permlink`	re-arorapuneet-re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t142628260z
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency"],"app":"steemit/0.1"}
`created`	2017-06-29 14:26:27
`last_update`	2017-06-29 14:26:27
`depth`	2
`children`	0
`last_payout`	2017-07-06 14:26:27
`cashout_time`	1969-12-31 23:59:59
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`beneficiaries`	`[]`
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`net_rshares`	0

@artedellavita · Jun 29 '17

$0.19

A poorly run business will fail eventually- could not have said it better.
I wish you a lovely day!

👍 thecryptofiend, middle-theory

`author`	artedellavita
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t142904708z
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency"],"app":"steemit/0.1"}
`created`	2017-06-29 14:29:06
`last_update`	2017-06-29 14:29:06
`depth`	1
`children`	2
`last_payout`	2017-07-06 14:29:06
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`total_payout_value`	0.178 HBD
`curator_payout_value`	0.012 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	99
`author_reputation`	113,049,974,670,699
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	6,630,349
`net_rshares`	21,491,983,381
`author_curate_reward`	""

properties (23)vote details (2)

voter	weight	wgt%	rshares	pct	time
thecryptofiend	0 B		21,022,728,259	1%
middle-theory	0 B		469,255,122	1%

@thecryptofiend · Jun 29 '17

Thank you!

properties (22)

`author`	thecryptofiend
`permlink`	re-artedellavita-re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t143803262z
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency"],"app":"steemit/0.1"}
`created`	2017-06-29 14:38:03
`last_update`	2017-06-29 14:38:03
`depth`	2
`children`	1
`last_payout`	2017-07-06 14:38:03
`cashout_time`	1969-12-31 23:59:59
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@artedellavita · Jun 29 '17

$0.19

You're welcome! :)

👍 thecryptofiend

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@askaboutcrypto · Jul 1 '17

This is very concerning. I read @jerrybanfield post yesterday and started looking into it. Since then I tried transferring 2 coins out of Poloniex to Bittrex. A Ripple transferred went ok in a couple of minutes. My siacoin transfer was not successful, even though the transfer says complete on the Polo side, nothing shows up on the Bittrex wallet yet.  Still waiting for support to reply back.
My big concern is that if a big exchange like Polo goes belly up, it will crater confidence in the overall crypto market.  If everyone moves their coin to Bittrex, is that going to be any better. 
You can't have confidence in the ecosystem if you can't even trust the infrastructure that holds  your coins.  
Is there another safe, stable options besides Bittrex?  Not sure if your experience @thecryptofiend is any better with Bittrex and their support.
I am fairly new to crypto investing and I have to say  I am surprised by these infrastructure issues that are being raised.

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@ballistictipp · Jul 1 '17

I used to like Poloniex because the site was designed nicely. Ever since they started holding my steem I've hated it. I've also lost some steem using it. 

Recently, I switched over to Bittrex and felt like I actually had freedom with my crypto assets. Bittrex is simple to use and doesn't hold my cryptocurrencies like Poloniex did. I  have also heard about Poloniex planning an exit scam. Be Careful, Do your research.

👍 ballistictipp

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@thecryptofiend · Jul 1 '17

Yes.

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@bearbear613 · Jun 29 '17

$0.19

Bittrex so far has been solid for me.

👍 thecryptofiend, middle-theory

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@thecryptofiend · Jun 29 '17

Yes they seem to be the best overall for altcoins right now.

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@bisht · Jun 29 '17

$0.20

Nice Post, I am also fedup with Poloneix, What is your alternative to it ... :)

👍 thecryptofiend, bisht, middle-theory

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@rt395 · Jun 29 '17

$0.05

bittrex

👍 sleepdeficit

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@bisht · Jun 29 '17

Was also thinking of the same ... :)

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@thecryptofiend · Jun 29 '17

Bittrex is the best for altcoins right now but using any exchange is risky.  They don't have the same value but if more people shift across and stop rewarding Poloniex for their poor service that will change.

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@blackvapor · Jun 29 '17

$0.19

Polo is shady as hell, they give excuses that do not make sense. How much do they make daily? Why would they not expand service and support? Closing the troll box was a red flag. Taking weeks for simple customer service issues is a red flag. Their whole attitude is scammy.

👍 thecryptofiend, middle-theory

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@thecryptofiend · Jun 29 '17

Yes I agree.

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@blockrush · Jun 29 '17 (edited)

$0.20

Perhaps it is time to build a decentralized wallet for Steemit. Check out this guy who is already working on a decentralized wallet for Steemit: https://steemit.com/steem/@shubhamupadhyay/an-open-source-steemit-wallet-web-version

👍 thecryptofiend, blockrush, middle-theory

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@metrox · Jun 29 '17

$0.36

Is't what Jesta's Vessel do ?

👍 metrox

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@thecryptofiend · Jun 29 '17 (edited)

You mean a stand alone wallet.  That is interesting.

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@blockrush · Jun 29 '17

$0.19

"Stand alone" is officially a part of the terms for the decentralized economy, so yes a standalone Steemit wallet that anyone could install on a flash drive, web server or computer.

👍 thecryptofiend, middle-theory

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@bonvivan · Jun 29 '17

$0.19

Yep, I got away as well when the problems with the selling of steem arose. Plus, I can also attest to their bad customer service. Bittrex seems like a nice alternative, as well as Bitshares, although they aren't that liquid.

👍 thecryptofiend, middle-theory

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`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	6,629,444
`net_rshares`	21,491,983,381
`author_curate_reward`	""

properties (23)vote details (2)

voter	weight	wgt%	rshares	pct	time
thecryptofiend	0 B		21,022,728,259	1%
middle-theory	0 B		469,255,122	1%

@thecryptofiend · Jun 29 '17

Yes liquidity is often the issue but as more people realise that there are alternatives it should improve.

properties (22)

@bryanlai98 · Jun 29 '17

$0.19

diverted most of my funds from polo to bittrex a few weeks back ,i received my SBD immediately ! No delays( 10-15min ) tho haha

👍 thecryptofiend

properties (23)vote details (1)

@callmefib3r · Jun 29 '17

$0.26

I'm actively using poloniex but I'm also considering getting everything off polo and move to another exchange. But I still don't get it. They're a multi-million dollar company so the least they can do is upgrade servers and hire more customer service staff right? Apparently not. I don't know if this is just plain greed or maybe they're just looking for an excuse to shut down and steal our money. I have no idea but it's getting worse everyday.

👍 thecryptofiend, callmefib3r, askaboutcrypto, middle-theory

properties (23)vote details (4)

@hasher · Jun 30 '17 (edited)

multi million dollar company run by incompetent staff and management, i have repeatedly lost money on this exchange.  i use bittrex too its much better, unfortunately i have storj stuck there right now. as they are having wallet issues. not sure if its storj or poloniex. although i know they are moving to tokens. And more concerned as to what they will do with our id if they ever did fail. best exchange will always be shapeshift 100% always have great customer service and will sort out any problems as they arise without hesitation.

properties (22)

@thecryptofiend · Jun 29 '17

I don't think anyone really understands it.

properties (22)

@cavemanrob · Jun 29 '17

$0.19

Big thanks for the heads up for newbies.  Getting trapped in a system that you barely understand, and then getting no support can turn a lot of people off to the crypto world.   Maybe one day they will be the go-to exchange, or maybe they will die off.  I think they will write their own destiny.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

They have had so much time to change and seem to have done nothing.

properties (22)

@cerejobastos · Jun 29 '17

$0.22

I have stopped too a couple months ago. They have nothing better than bittrex if they upgrade their charts

👍 thecryptofiend, cerejobastos, middle-theory

properties (23)vote details (3)

@thecryptofiend · Jun 29 '17

True and if more people use Bittrex and ask for better charts I think they are likely to listen.

properties (22)

@coffeedrinker51 · Jul 1 '17

Yeah! I dont know what Im doin with my Steem here on this site? I dont know why , a lot of things, but it's kool Havin fun! aloha Al  upvoted and resteemed why not? Aloha Al

properties (22)

@cryptoizotx · Jul 1 '17 (edited)

Great article! Thanks for sharing! I am following you. Please follow me back :)

properties (22)

@cryptokraze · Jun 29 '17

$0.19

Now this looks scary as most of my coins are in poloniex and I hope they will do something to uplift the trust of clients. Now I will shift half of my coins to bittrex for sure.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

$0.10

I'm sure you already know but I'll state it for those who don't - don't use an exchange as a multi wallet.  Only keep your trading coins on the exchange.

👍 theoriginalkage

properties (23)vote details (1)

@cryptokraze · Jun 29 '17

$0.19

Yes I got my ledger now. Will shift my long term coins in ledger and keep some balance for trading.

👍 thecryptofiend

properties (23)vote details (1)

@cryptorounder · Jun 29 '17

$0.19

They literally have never answered a support ticket for me. They vary withdraw time from minutes to days or more with no explaination or warning at all.  So much for closing the trollbox to improve customer service, lol. I'm 'trying' to sign up at Bittrex but at least they communicate.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

The lack of any kind of reason or indeed communication for delays and the randomness of it all is most troubling.

properties (22)

@dan0ss · Aug 1 '17

$0.08

https://steemit.com/poloniex/@dan0ss/poloniex-updated-terms-waives-your-right-to-a-class-action-lawsuit

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Aug 1 '17

Very interesting.  Is this a new addition?

properties (22)

@deanoza · Jun 29 '17

$0.19

Yup, poloniex has become incrementally worse... What would you say is your exchange of choice now?

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Bittrex.  Not perfect but they have most altcoins and most importantly they have good customer service.

properties (22)

@dexter-k · Jun 29 '17

$0.19

Scary @thecryptofiend. I never did any serious trading, only small stuff and only ever on Poloniex cause it was so easy to use. Glad I have never left anything there and have a warning now, guess if I want to do any crypto trading I will have to learn Bittrex. Thanks for the info!

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

You're welcome!

properties (22)

@dianadsouza · Jan 5 '19

Despite countless exchanges for cryptocurrency specifically, Bitcoin; [Poloniex Exchange](https://coinpedia.org/exchange/poloniex/) still remains a leader. It has been surviving in this industry holding endless features that traders always search for. Poloniex prides itself for providing advanced trading functionalities and maximum security.

👎 cheetah

properties (23)vote details (1)

@digicrypt · Jun 29 '17

$0.70

I have been surprised more ppl haven't left Poloniex, it seems like the issues are constant lately.

👍 digicrypt, thecryptofiend, middle-theory

properties (23)vote details (3)

@thecryptofiend · Jun 29 '17

Yes me too.

properties (22)

@digitalking · Jul 2 '17 (edited)

$0.16

I saw this in Poloniex LTC/BTC chart a couple of hours ago and i am wondering if the margin trades affected.
![ltc](http://image.ibb.co/jXoCNv/ltc.jpg)

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jul 2 '17

They probably are.  I have heard people complain about getting margin called due to flash crashes - sometimes whilst they have happened they have been unable to access the site.

👍 digitalking

properties (23)vote details (1)

@digitalking · Jul 2 '17

$0.16

So, this is another reason to agree with your post :)

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@dlina-v-metrah · Jun 29 '17

$0.19

At Poloniex, there are always some problems. At one time, I could not go to the exchange at all to get the rest of the crypt.

👍 thecryptofiend

properties (23)vote details (1)

@edje · Jun 29 '17

$0.19

I can really relate to what your are stating about Poloniex. I have some not so good experiences with them as well. But I tried Bittrex, and as a day trader platform, I dont like it too much. Although screens are not that great at Polo, at Bittrex they are not good, or at least not how I like to trade. Also volumes at Bittrex are soo much lower, an d I like exchanges with volume. I did a trial with Coinomy, and independent trading platform with integrations with the major exchanges, including Poloniex. I really like what they offer as tools etc. Also they allow orders for which you may not have sufficient funds. It just dont process those orders, meaning you can set more stop/limits than your budget is and the first ones to trigger will be executed. I really love this, since I trade on breakouts and sometimes their are soo many coins on the breakout but some take still days. I like to be in a trade not longer than 24-48hrs. Anyway, long story short, I really have to check other trading exchanges as well, but for some reason I think I'm hanging out at Poloniex for the immediate future, maybe with Coinomy fronting it though. The later service cost around 20$/mnth with a mnth subscription. But you get some good stuff back for it. Trial account last for 1 mnth, plenty of time to get a feel for what they offer.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

$0.09

The problem is that if people keep avoiding Bittrex due to low volume then it becomes a self fulfilling prophecy.  I don't care about the lower volume or the interface.  I would rather support a business that cares.

👍 edje

properties (23)vote details (1)

@edje · Jun 29 '17

$0.19

I do agree with you. And I must say, when I had an issue logged with Bittrex yesterday, they responded in about 10 hours, and the issue was resolved in the mean time. Kudos for that!! So, I have still some funds at Bittrex, so I may start playing around with that on Bittrex. I do agree, Poloniex does very bad business and in worst case they take still several millions per month on feeds. I dont see those revenues back in a solid and good service. They have issues with volumes, they have issues in support, they have issues in informing their customers, they seem to have issues with everything, except taken the money from their users.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@egonz · Jun 29 '17

$0.97

Buen post! De gran utilidad para mi. Gracias por la advertencia. Upvote y resteem

👍 sponge-bob, thecryptofiend, middle-theory

properties (23)vote details (3)

@ejemai · Jun 30 '17

$0.19

now this is go me thinking hard, I have over 78% of my cryptos in Poloniex and though I am yet o make a withdraw, I fear if they are this terrible, I may be he next person writing about a new pain. What to do?

👍 thecryptofiend, middle-theory, ejemai

properties (23)vote details (3)

@thecryptofiend · Jun 30 '17

Take your money off slowly.  That's what I did.

properties (22)

@encapture · Jun 30 '17

$0.19

Yup sadly they haven't coped with the increase in demand. Best outcome was trollbox got canned 
 as a side-effect IMHO.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 30 '17

I think the real reason they got rid of it because it was mostly people complaining about the service in the final weeks.

👍 encapture

properties (23)vote details (1)

@encapture · Jul 1 '17 (edited)

$0.18

true! Annoyingly I've only got 'dust' left with Poloniex, don't like leaving dust I can't withdraw behind ;)

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@enomujjass · Jun 29 '17

$0.19

It's helpful to me.
thank u for sharing

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@erickjongo · Jun 29 '17

$0.44

I stopped using poloniex a week before they started *Temporarily disabled* on some altcoins. Personally this sent shivers down my spine because I remember similar incident not so long ago with some exchange marketplaces you've mentioned that collapsed. @thecryptofiend tganks for addressing this so new minnows can learn to stay away from this imminent danger.

👍 thecryptofiend, esteemapp, blubeast, feruz, egonz, middle-theory, bounties, steempoll, demo, tipping, mysteem

properties (23)vote details (11)

@thecryptofiend · Jun 29 '17

Yes it has happened many times before exchanges collapse.

properties (22)

@erikaflynn · Jun 29 '17

$0.12

Before stop using Poloniex it would be great to withdraw crypto from there😈😠

👍 erikaflynn

properties (23)vote details (1)

@thecryptofiend · Jun 29 '17

Yes that is a big problem.  They also won't say exactly what triggers them to do a manual withdrawal which was alleged to be the cause of the original delays.

properties (22)

@evanrvoss · Jun 29 '17

$1.25

#### Poloniex is a joke...My fellow steemian family, we should have a few platforms to trade on. Prices are always changing and also the fees change on each platform.

#### **_REMEMBER: "A penny saved is a penny earned"_**

👍 evanrvoss, thecryptofiend, stillwater, middle-theory

properties (23)vote details (4)

@stillwater · Jun 29 '17

Yes sir!  "Take care of the pennies and the dollars will take care of themselves.................."    ;)

properties (22)

@thecryptofiend · Jun 29 '17

Diversity is a good idea in many fields.

properties (22)

@ezblog · Jun 29 '17

$0.19

They left my state.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Who? Poloniex?

properties (22)

@ezblog · Jun 29 '17

$0.19

Yes. polo.

👍 thecryptofiend, ezblog

properties (23)vote details (2)

@ezzy · Jun 29 '17

$0.93

Thank you for the heads up, buddy.

I had a few ETC on there but withdrew it all about a week back. Poloniex are blaming the Steemit developers for their issues so I definitely don't want their dubious stances to filter down to other currencies. Too risky.

Bless, my friend! :)

👍 myb, thecryptofiend, middle-theory

properties (23)vote details (3)

@thecryptofiend · Jun 29 '17

$0.30

Thanks!

👍 ezzy

properties (23)vote details (1)

@figox · Jun 29 '17

$0.20

I was thinking in start using Poloniex, until now... thanks for the advice! great post.

👍 thecryptofiend, figox, middle-theory

properties (23)vote details (3)

@thecryptofiend · Jun 29 '17

You're welcome!

👍 figox

properties (23)vote details (1)

@fraenk · Jun 29 '17

$0.19

yep... withdrew my last steem a few days back... they won't be seeing me again!

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

$0.07

Well at least you got out :)

👍 fraenk

properties (23)vote details (1)

@fraenk · Jun 29 '17 (edited)

$0.19

yeap... didn't have much to lose... but I really wont accept another cryptsy in my life!

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

1 reply

@fraterralph · Jun 29 '17

$0.19

Good points.  I was happy with Poloniex, but this record of poor customer service and not being able to handle the traffic are huge red flags.  I in the process of transfering assets from Poloniex to Bittrex.  While I don't really like the feel of Bittrex compared to Poloniex, I can plainly see the time for change has come. Perhaps time to give 2 or 3 new services a try. Thanks!

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

$0.04

Yes and maybe if more people use Bittrex they can make enough money to upgrade to a better UI.

👍 fraterralph

properties (23)vote details (1)

@fraterralph · Jun 29 '17

$0.19

Agreed. Overall Bittrex seems open to growth. Poloniex has stalled.  A shame really. But if a business can not adapt to changing conditions, they will not survive.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

1 reply

@freedomnation · Jun 29 '17

$0.27

Red flag Poloniex, next Mt.Gox @thecryptofiend

👍 thecryptofiend, freedomnation, middle-theory

properties (23)vote details (3)

@thecryptofiend · Jun 29 '17

I hope it doesn't but it seems to be a possibility!

properties (22)

@freedomnation · Jun 29 '17

$0.28

My steem depo from before HF19 seems to be lost of frozen.  What they are doing is manipulation of price.  Their trading bots and sell walls making people panic sell so they can earn some huge $$$ on the rise. Fake corrections every single week. 

Bittrex is much better if I have to pay fees already.  But p/d scammers are gaining some influence on low volume coins there too.  

What happened to ShapeShift?  We should have a single Steem/SBD to BTC and ETH exchange.

👍 thecryptofiend, freedomnation, feruz, egonz, middle-theory, demo

properties (23)vote details (6)

1 reply

@funkywanderer · Jun 29 '17

$0.19

It took a full week to withdraw 40 ltc, from last thursday to this morning it finally hit my wallet. I had created a ticket for my issue, and even now there's no response from support about my ticket. I'm glad my funds were finally released, but I know now not to go play on POLO with that sort of support response and propensity for holding your funds for absolutely no reason.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

That was what happened with me when I tried to withdraw a few bitcoins worth of coins from there.  I never got an explanation either.

👍 funkywanderer

properties (23)vote details (1)

@gduran · Jun 29 '17

$0.19

Seems like SBD and Steem are especially having problems at Poloniex, after reading a lot of posts I guess the answer is Bittrex, or perhaps some other exchange I haven't heard of.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Bittrex is the best that I know of but it is possible another one could come along.  It will only happen if people start shifting their trades though.

properties (22)

@geordieprepper · Jun 29 '17 (edited)

$0.19

I haven't signed up to Poloniex. I was using HitBTC, but then there was some inexplicable problem with me not being able to deposit or withdraw STEEM and SBD. So I signed up with Bittrex and have used it ever since. Bittrex seems ok for now but if even a small problem occurs then I'll move on I think. If a website starts wobbling under a little bit of pressure then that's a big red flag, sounds like Poloniex wanted to ride the gravy train but didn't lay down enough track.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

HitBTC seems scammy to me with their IOU trading.  It may not be illegal but it seems kind of immoral.

👍 geordieprepper

properties (23)vote details (1)

@geordieprepper · Jun 29 '17

$0.19

Hmm, I didn't know they did that. I was new to trading and exchanging and HitBTC was the first exchange I went on, just to get my feet a little wet. I had mined some DashCoin and sold them for bitcoin and then sent about 5 SBD and sold that for BitCoin and then the problem came up that I mentioned. So I haven't used it since tbh, just been using Bittrex.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

1 reply

@grognak · Jun 29 '17

$0.19

Exchanges just kinda scare me period, but Poloniex much worse!

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@heretickitten · Jun 29 '17

$0.19

I used to be a big Poloniex fan, but I recently moved half my assets to TradeQwik, with Bittrex also receiving some. Bittrex is based in the USA, so I'm not sure how solid its future will be, compared to a decentralized, international exchange.

I think TradeQwik is working on becoming decentralized, so it could end up taking a lot of the market, especially considering the current destablization of most of the cryptocurrency prices, as well as their network performance. 

Massive ups and downs recently, eh?

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17 (edited)

Yes I think US regulations are going to be more of a problem as time moves on.  Decentralised exchanges are the future but there are problems to be solved.  I don't think TradeQwik is ready for use by the average user yet but it is early days.

That's why I bought a chunk of those TQ tokens!  The potential is huge!

On the other point:

The massive ups and downs are a part of the crypto landscape.  It is still too small and illiquid to have the stability of other markets.

properties (22)

@seveaux · Jun 30 '17

(JEWS)

properties (22)

3 replies

@hqmafa420 · Jun 29 '17

$0.19

Yesterday was my last day on Polo,  can make so mad...
After losing 50 SBD while transfer from Steemit to Polo...

I suggest something else, but not Polo

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

I moved my final coins off a few weeks ago - I did it super slow because I didn't want to end up tripping one of their manual withdrawals.  Seems when that happens you can end up waiting for days or even weeks.

properties (22)

@hqmafa420 · Jun 29 '17

$0.18

Ok, if at the end- i mean 2 or 3 week i'll get my coins back- gonna be surprised as hell, cause I already said "goodbye" to my SBD  what i lost.
But main thing- stay away from Polo.

👍 thecryptofiend

properties (23)vote details (1)

1 reply

@inspiringty · Jun 30 '17

$0.19

Great article thanks

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@inviterx · Jun 29 '17

$0.19

thanks for this info mate..

👍 thecryptofiend

properties (23)vote details (1)

@thecryptofiend · Jun 29 '17

You're welcome!

properties (22)

@irfanullah · Jun 29 '17

$0.19

I have red this intresting and informative post but how can we solved this issue. Please suggest solution if possible  !
Upvoted and resteem your post.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Use other exchanges like Bittrex.

properties (22)

@jaredcwillis · Jun 30 '17

$0.18

Yes, the last time I used Poloniex it took almost 24 hours to transfer BTC to a timed address. It took all of that time to get Poloniex to cancel the withdrawal and then it took another day to transfer to a different wallet. So frustrating

👍 thecryptofiend

properties (23)vote details (1)

@thecryptofiend · Jun 30 '17

You are lucky that it was only that long!

properties (22)

@jaredcwillis · Jun 30 '17

$0.18

Yes I'm beginning to realize that. So far I've been happy with Bittrex but I am looking at some other options

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@jatala · Jun 29 '17

$0.19

Moving from polo to bittrex now after hearing bad things every day.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@jeffjagoe · Jun 29 '17

$0.16

never store funds on a 3rd party exchange!

👍 thecryptofiend, middle-theory, redpill

properties (23)vote details (3)

@thecryptofiend · Jun 29 '17

Yes.  They should not be used as a multi wallet.

properties (22)

@jobling · Jun 29 '17

I JUST STARTED POSTING ABOUT A LOVELY,SEXY AND EDUCATIVE STORY CALLED SECOND CHANCE
CHECK THROUGH MY WALL TO SEE THE STORY AND IF YOU LIKE IT YOU CAN FOLLOW IN OTHER TO GET THE NEXT EPISODES

👎 hqmafa420

properties (23)vote details (1)

@thecryptofiend · Jun 29 '17

STOP SPAMMING!

👍 jobling

properties (23)vote details (1)

@jobling · Jun 29 '17

am not spamming

👍 jobling

properties (23)vote details (1)

1 reply

@titotips · Jun 30 '17

You can be flagged for this, you don't even comment about the subject.

👍 titotips

properties (23)vote details (1)

@joebloggs · Jun 29 '17

$0.19

You folks may remember that Polo was once hacked and did a bail-in.  I believe this was in 2014 and Polo was a much, much smaller player.  The bail-in always left a bad taste in my mouth even though I did not have much money there at the time.  Unlike BFX, it doesn't seem like they tried to make everyone whole.

I still use them for the coins they have there that no one else has (Bitmark, Belacoin the shady, etc.) and keep some in small amounts.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

I can't even remember that incident - there have been so many since then.

properties (22)

@joebloggs · Jun 30 '17

$0.18

http://www.coindesk.com/poloniex-loses-12-3-bitcoins-latest-bitcoin-exchange-hack/

March 2014

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

1 reply

@josephd · Jun 29 '17

$0.19

I'll be moving to bittrex, but I'll still be hoping for them to fix this, because imagine the bad press for the crypto space in general if the biggest exchange provides horrible services

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Yes bad for us all, however if people didn't accept it and moved their trading funds to Bittrex it wouldn't be the biggest exchange any more.  The problem is that people bitch and moan but keep using it anyway - until their funds get stuck permanently.

properties (22)

@karenb54 · Jun 29 '17

$0.19

I haven't used Poloniex, I was told about Bittrex first so used them and found them pretty reliable

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Yes they are good.

properties (22)

@lavater · Jun 29 '17

$0.19

my Steem is stuck there unfortunately. does anyone have a clue why they've disabled Steem withdraws/deposits? it's been a week now!
the Trollbox was actually useful to get quick answers but that's gone :( .
I've defended Poloniex in the past, but the service deteriorated over the past year and only seems to be getting worse and not better.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Have no idea why they have disabled.  Maybe they want to manipulate the price.

properties (22)

@lemouth · Jun 29 '17

$0.19

I am as well not using them anymore for a couple of weeks. I have read too many catastrophic stories about them. I moved to bittrex that I like (at least for the moment ;) ).

This being said, I am not a trader at all :)

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@logic · Jun 30 '17

$0.18

I have stopped too. I did last test few days ago with transfer. It all smells fishy. They seem to follow exactly the same pattern that Cryptsy did. First having problems with processing deposits and withdrawals, then shutting down criticism in chat room. Then now purposely delaying ticket support response. I can bet that they have been lying. I bailed it with my cryptos from Cryptsy when smelled bullshit before it collapsed. Now I did the same with Cryptsy before it is too late. My experience tells me thàt they got hacked, lost major amount of btc or eth and now they are insolvent.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 30 '17

Exactly and I have heard some others suggest this too.  One of the other theories is that they are trying messing around with trades on their own exchange to try to recoup the money that they may have lost.  The thing is it could be true or it could be complete BS - we just don't know and it is not worth the risk.

properties (22)

@logic · Jun 30 '17

$0.18

I think it is likely to be true. I felt that few months ago when their ripple trading suddenly had constant issues right before major dump like they tried to manipulate it.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@mammasitta · Jun 29 '17

$0.19

Can't agree more !!!!! 
No more POLO for me !!!!

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@mars9 · Jun 29 '17

$0.19

Hello brother @thecryptofiend from 10 STEEM DOLLARS days I turned 10 to poloniex and did not receive it and write a letter and a ticket for support did not respond to this time
-
Today I'm celebrating the get 700 followers 1700 STEEM POWER
My story with No. 7
We hope you vote on this list 77 or 7 of the value of this day of celebration No. 7
https://steemit.com/steemit/@mars9/number-7-wow-700-followers-1700-steem-power-i-also-hope-700-votes-here-i-m-so-happy

👍 thecryptofiend

properties (23)vote details (1)

@thecryptofiend · Jun 29 '17

Hi mate.  Keep trying they should respond eventually and don't use them again.

properties (22)

@mastergreen · Jun 30 '17

$0.19

I got out of Poloniex right after they pull out the troll box.  That was a signal for me.  I see many ppl on troll box messaging tickets that they had issue withdraw.   But all the  exchanges....yes...including Bittrex will have issues.  My friend got his account hijack on Bittrex.   I myself added some ETH onto Brittex but I did not show up.  Brittrex never resolve the issue.  I lost my funds.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 30 '17

$0.04

Did you contact Bittrex?  Send them another ticket.  They usually respond and do help.

👍 mastergreen

properties (23)vote details (1)

@mctiller · Jun 29 '17

$0.81

I switched to Bittrex a month ago when people began noticing that trades were taking longer, and I noticed a few issues.  So the problems with Polo have been longer than just the last few days.

I haven't looked back since.  Bittrex has been completely solid and easy to use.

👍 mctiller, thecryptofiend, theoriginalkage, blubeast, s1010k, egonz, middle-theory

properties (23)vote details (7)

@thecryptofiend · Jun 29 '17

Yes I agree.   Bittrex are better.

properties (22)

@askaboutcrypto · Jul 1 '17

shame that the Bittrex interfase sucks, especially the charts

properties (22)

@meme.for.steem · Jun 29 '17

$0.22

Never had a problem with Poloniex...yet!
Good article...good warning. I don't have enough tied into Poloniex to make a difference to anything though...unfortunately.
What exchanges would you recommend as being safe...or having a lasting business model?
I have several exchange accounts...but haven't had any issues with them yet. Kraken is slow as hell I know.
CEX.io seems very fast with customer support...but I still can't locate where a couple of their fees are coming from.
VirWox is terribly expensive and I wouldn't recommend it anyways.
Coinbase has been great to me so far.
That's all my personal exchange experience to date!

👍 thecryptofiend, meme.for.steem, egonz, middle-theory

properties (23)vote details (4)

@hasher · Jun 30 '17

I would say use bittrex or shapeshift

properties (22)

@thecryptofiend · Jun 29 '17

For altcoins Bittrex is best although the volume is lower than Polo.

properties (22)

@askaboutcrypto · Jul 1 '17

@thecryptofiend If you place a sell oder in Bittrex for a coin, does the buy have to come from a Bittrex buyer or is it fulfilled across the entire demand regardless of exchange?

properties (22)

@mericanhomestead · Jun 29 '17

$0.19

I heard about all the horror stories concerning poloniex.  But there are just as many horror stories about Coinbase.  I have yet to hear a bad story about Bitpay.  As of right now, all my crypto stays in crypto but when I do decide to cash out, Bitpay may be the direction I go towards.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Never used Bitpay.  Bittrex is better than Coinbase if you want to trade altcoins.

properties (22)

@mexbit · Jun 30 '17

$5.12

Mt. Gox took forever to collapse as well... with thousands of excuses like malleability and what not... With all of those horrible user experiences I really wonder how is it that there still has not been a panic...

Cryptsy also was rumoured like for years to be bankrupt until in the end they admitted it... Sorry to see that the exchange with the biggest volume for alts is  making such headlines...

👍 mexbit, thecryptofiend, blubeast, bledarus, middle-theory

properties (23)vote details (5)

@bledarus · Jun 30 '17

$0.60

they did a good thing that they removed the chat... bringing all those people to steemit ;)

👍 pagandance, blubeast, bledarus, satchmo

properties (23)vote details (4)

@satchmo · Jul 2 '17

also reduced FUD and fomenting FOMO

properties (22)

@cryptoblast · Jul 1 '17

Totally starting to feel too much like like Mt. Gox. I just did a story on the odd margin trading bug I found today when closing my short positions:
https://steemit.com/poloniex/@cryptoblast/poloniex-found-a-bug-i-m-out
This is all starting to feel a bit too familiar. I hesitate to use the word Mt. Gox, but it feels quite similar right now. Confirmed bugs and long support lines give me no confidence in a very complex multi-currency exchange. Can anyone really trust them to manage that many wallets with high confidence? What about this odd margin issue? if my account has "phantom positions," how many other accounts have them as well?

properties (22)

@steemboys · Jun 30 '17

$0.10

For anyone who hasnt heard of Mt gox, it was first a trading platform for "magic the gathering" then turned into the by far largest bitcoin exchange. 850.000 Bitcoin got lost in 2014. After that mtgox announced to be insolvent.

👍 steemboys, joshuatucker

properties (23)vote details (2)

@thecryptofiend · Jun 30 '17

People don't learn.

properties (22)

@milanademort · Jun 29 '17

$0.18

Great article, couldn't agree more. I started my crypto journey with polo but I have always had issues with it, and it's not very comforting at the end of the day.
Followed and upvoted!
Best,
@milanademort

👍 thecryptofiend

properties (23)vote details (1)

@moataz · Jun 29 '17

$0.19

Well I certainly hope they get their shit together fast.

I've seen many people complain and the STEEM deposits are in the range of about $60,000 - $70,000 so certainly that's a lot of money.

And of course as a reminder, nobody should ever put their coins on any exchange no matter how much they entrust it or believe it's safe. Always keep your coins in your own wallet.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@mericanhomestead · Jun 29 '17

$0.19

Right on.  Really like Exodus.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Yes exactly.

properties (22)

@moderninvestor · Jun 29 '17

$0.19

Between deposits not being credited, to people not being able to take their money out to NOW people not being able to get in contact with them.... ive been done with them for a while, they were never ever trustworthy in my opinion

👍 thecryptofiend

properties (23)vote details (1)

@thecryptofiend · Jun 29 '17

I think many people feel the same now.

properties (22)

@moneybags · Jun 29 '17

$0.19

Best to stay clear, the poor communication is a great reason not to give this exchange your trust, steem or business. Cheers

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Exactly.

properties (22)

@mrjohnson · Jun 29 '17

$0.19

Your post is so well organized.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Thanks.

properties (22)

@msmax · Jul 2 '17

$0.17

Bittrex volumes are increasing day by day.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@nekgate · Jun 29 '17

$0.20

Bitrex remains the best. That's where I do all my trading. Thanks for the warning.

👍 thecryptofiend, nekgate, middle-theory

properties (23)vote details (3)

@thecryptofiend · Jun 29 '17

You're welcome!

properties (22)

@neojew · Jun 29 '17

$0.19

![poloniex629.JPG](https://steemitimages.com/DQmQLxsoHr42uewTH36GeiPGBikMff6t6o3HwQZti9gXde7/poloniex629.JPG)

I agree you.
At present, we can't deposit or withdraw of SBD in poloniex.
thank you.
vote you~

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Thanks.

properties (22)

@ocrdu · Jun 29 '17

$0.19

Pending, pending, pending ...

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@oleg326756 · Jun 29 '17

$0.19

I totaly agree with your sentiment. I have moved all my coins (not yet frozen by Poloniex) off Poloniex and I have given up hope of ever getting a response from their crappy support service. My last ticket – concerning Dash deposits that Poloniex failed to credit to my wallet – is about to turn 3 months old. And they froze a few of my other coins and refuse to release them so that they can be withdrawn somewhere else. They are incompetent liars and thieves and I have no respect or confidence left for them.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

3 months must be some kind of record!

properties (22)

@oleg326756 · Jun 29 '17

$0.19

I am sure there are people who have been waiting even longer for their tickets to be resolved…

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

5 replies

@opanyin · Jul 1 '17

$0.18

For me Poloniex is a scam

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@ozmaga · Jun 29 '17

$0.19

Yup, it sure does look like they're on the brink of failure!

Great post @thecryptofiend and prescient warning to others.

I'm resteeming this.👌

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Thank you!

properties (22)

@ozmaga · Jun 29 '17

$0.18

You're welcome.

👍 thecryptofiend

properties (23)vote details (1)

@pakyeechan · Jun 29 '17

$0.19

same here, no more poloniex for me,  it is just like a black hole. Though Bittrex's rate is not as good as poloniex, I will never look back, poloniex sucks!

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

$0.05

Yes it does seem like a black hole when your money gets stuck.

👍 pakyeechan

properties (23)vote details (1)

@pal · Jun 29 '17

$12.30

Hm. I'm am using poloniex on daily basis for about 3 years now. Not for trading though, but as a price feed. But even that function doesn't work properly. Their site became very laggy in recent months. Additionally STEEM and SBD market price is not accurate, because whey disabled deposits and withdrawals.

👍 pal, thecryptofiend

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Yes the site pretty much breaks under volume.

properties (22)

@phoenixmaid · Jun 29 '17 (edited)

$0.19

That's a shame it was one of the few exchanges i had managed to get my head around. Time to look elsewhere.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Yes I think they have the best interface but it is not worth the hassle any more.

properties (22)

@practicaleric · Jun 29 '17

$0.19

Bittrex is much more better than poloniex. I suggest u move there

👍 thecryptofiend

properties (23)vote details (1)

@primzy81 · Jul 1 '17

$0.18

Im on both ,Polo and Bittrex.. Bittrex is more smooth,but they really need to improve their interface.. Polo has much better user friendly "backoffice".. I really doubt that they can crash anytime soon..they are the biggest exchanger out there..

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jul 1 '17

>I really doubt that they can crash anytime soon..they are the biggest exchanger out there..

That's what people said about MT GOX and Mintpal.

properties (22)

@ravindrasail · Jun 30 '17

I believe that old is gold. there are many problems in poloniex but it is trusted website. there are many exchanges website come and go. many websites may do scams in future. so believe in poloniex. as all you know that since from last 4 months the cryptocurrency  markets growth is massive so there are heavy traffic at website.

properties (22)

@thecryptofiend · Jun 30 '17

Sorry but it is clear you don't know what you are talking about.  It is advice like this that results in people losing their money.

properties (22)

@rizatr · Jun 29 '17

$0.19

Hmm, signed up on poloniex, but the site was so slow and after reading several bad reviews, i decided to put in a low amount of money.
When cryptos had sudden changes, the site was so slow i couldn't even buy/sell properly, so i just do not use it as often now.
But didn't know about the support problems etc. 
https://media.giphy.com/media/wMY3LjQQMqo5W/giphy.gif

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Well now you know:)

properties (22)

@rogerwilson · Jun 29 '17

$0.19

Thank You. Us newbies need all the help we can get, and no one wants or needs to step in another pile of MtGox. If you don't remember, trying to lean crypto and a little like learning anew language, only with crypto a mistake can cost you dearly... So Thanks.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

You're welcome!

properties (22)

@rossenpavlov · Jun 29 '17

$0.19

I gave up on Polo two months ago when it first started to get buggy. I use bittex now, but only for exchange. Never store your coins in an exchange site.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

I would say never store anything that you are not willing to lose!  I think if you are trying to trade on the fluctuations you have to keep them on the exchange.

properties (22)

@rossenpavlov · Jun 29 '17

$0.19

You have a point. I'll keep that in mind.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@rt395 · Jun 29 '17 (edited)

$0.23

The Polo UI is great, but like you said their service is shit while they rake in the dough. They have had ample time to fix their problems, but haven't done anything. I'm in the process of moving my coins out of Polo and into other exchanges/wallets. Polo is bad news for crypto.

👍 thecryptofiend, rt395, askaboutcrypto

properties (23)vote details (3)

@thecryptofiend · Jun 29 '17

$0.09

Exactly.  Either they are incompetent , stingy or they don't care.

👍 josephd, rt395

properties (23)vote details (2)

@hasher · Jun 30 '17

$0.19

Problem is they get too big for their boots. lol :)

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

1 reply

@rt395 · Jun 29 '17

$0.19

Probably all 3.

👍 thecryptofiend

properties (23)vote details (1)

1 reply

@rycharde · Jun 29 '17

$0.19

They own a huge amount of steem - failure will have repercussions.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

$0.37

They don't own it.  It belongs to the people that use the exchange.

👍 metrox

properties (23)vote details (1)

@satchmo · Jul 2 '17

$0.16

good post - but for now Poloniex is where the volume is - so it is the most liquid, easiest to get in and out.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jul 2 '17

Getting in and out is actually a problem for some people.

properties (22)

@satchmo · Jul 2 '17

$0.16

Trading is about liqudity -- dont buy the low volume alt coins even if its up or you believe its going up.

Its like trading any kind of equity, if the volume is low the spread is to wide, need buyers and sellers to make a smooth entry and exit.

If a stock is up 5% but on light volume, and chart says it should continue, I would not buy it simply for the risk of getting trapped.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@sauna · Jun 29 '17

$0.19

Why use a centralized exchange for your de-centralized coins? There exists a de-centralized option---openledger---bitshares---I recommend it after using for more than a year.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

The main reason is liquidity.  Also you still need to trust a gateway.

properties (22)

@scaredycatguide · Jun 29 '17

$0.38

Glad to hear you got away from polo.  Bittrex still running smooth for me.....eight months and counting.  No issues.

👍 mitchelljaworski, thecryptofiend, middle-theory

properties (23)vote details (3)

@thecryptofiend · Jun 29 '17

Yes I've not had any issues with them either in the last 3 or 4 years which is pretty impressive.

properties (22)

@seveaux · Jun 30 '17

$0.18

poloniex is a typical american company... only in for the money, check the buy and sell commision = .15% buy for .25% sell.. why?!?!?!? they just don't care also, the site is slow, the coins are not as diversed as bittrex and it seems like they always have coin issues when there isi movement on the market... scam or not ?.... its not build on a vision for a good tradingplatform but build like a money making machine to me

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 30 '17

Bittrex is an American exchange too though.

properties (22)

@sleekstrike · Jun 29 '17

$0.19

What do you have to say about Coinbase / GDAX ?

👍 thecryptofiend, middle-theory, sleekstrike

properties (23)vote details (3)

@thecryptofiend · Jun 29 '17

Nothing - I stopped using them a long time ago.  Have not really had the need.

👍 sleekstrike

properties (23)vote details (1)

@sleekstrike · Jun 29 '17

$0.19

Is there a service you would recommend  for converting crypto - fiat or vice versa ?

👍 thecryptofiend, sleekstrike, middle-theory

properties (23)vote details (3)

3 replies

@steemboys · Jun 30 '17

$0.28

Poloniex is real scam. You heard of the stellar lumen giveaway two days ago? 
So stellar was giving away free lumen to all bitcoin holders. Poloniex didnt let their customers claim the lumen and probably will keep them for themselves.

👍 thecryptofiend, steemboys

properties (23)vote details (2)

@thecryptofiend · Jun 30 '17

Did they do another one? Anyway there may be other reasons i.e. they don't have the time but it doesn't look good.

properties (22)

@steve005 · Jun 30 '17

$0.18

ive been using since jan no problems, never needed cust. service,  took 9btc to 16, still have 7 on there

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 30 '17 (edited)

That's hardly the point though.  There were people using Cryptsy without issues just before they lost all their money.

👍 steve005

properties (23)vote details (1)

@stevescoins · Jun 29 '17

$0.19

I had a pain in the butt with additional Bittrex ID verification, but they helped me out within a day.

Still need to look at some of the decentralized exchanges

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

$0.09

Yes I think DEXs are the future.

👍 stevescoins

properties (23)vote details (1)

@stillwater · Jun 29 '17

$0.19

My wife and I were about to start using Poloniex over coinbase and at the time it was raved about and recommended.  All of a sudden, recently it has just been dragged through the mud!  Nothin' but bad things are being said about it so we've decided not to.  I get the reasons why it's labeled as no good but why can't they fix their problems since not long ago all was good?  Any thoughts on bittrex?  Open ledger?  Any suggestions?  Thanks so much and I'll start reading comments.  The answers I seek may be here already............ enjoyed.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

$0.03

They have never been all good.  The problems have been there for 3 years but people ignored them due to the liquidity and interface.  What has changed is the severity and frequency of issues in the last few months.

👍 stillwater

properties (23)vote details (1)

@stillwater · Jun 29 '17

$0.19

Thank you for the reply.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@surfermarly · Jun 29 '17

$0.18

That's an important post, Arif! Thank you. Resteemed.
I think that was the best you could do.
I've got still 500 Steem pending and hope I will get them back some day. I transferred them to Polo yesterday not having any idea about their issues since I was on vacation in the meantime. Until now that money is neither displayed in my wallet on polo nor paid back to my steemit wallet. I consider it being lost to not freak out... But I will do whatever to get it back.
Tough times for people who have still a lot of their funds in there...

👍 thecryptofiend

properties (23)vote details (1)

@thecryptofiend · Jun 29 '17

Put in a support ticket if it has been over 24 hours.

properties (22)

@swolesome · Jun 29 '17

$0.20

I moved all my coins off of there months ago. Had an email from them about some new bug and I needed to change my password. Reminded me too much of Gox.

👍 swolesome

properties (23)vote details (1)

@thecryptofiend · Jun 29 '17

Yes they seem to be very badly run.

properties (22)

@swolesome · Jun 29 '17

$0.24

I converted to bittrex back when I started getting stove on here again. About two months ago. Glad I did.

👍 thecryptofiend, sleepdeficit

properties (23)vote details (2)

@teamhumble · Jun 29 '17

$0.19

i love the styling of you're blogs, i presume you start with a template layout and work the bits in, i do that too, btw i'm scared of the first picture, i'm scared of heights and having to wear a blind fold as well, oh my. that makes feel queesy! - i think it's awesome that the community let's people know about situations like this.

👍 thecryptofiend

properties (23)vote details (1)

@thecryptofiend · Jun 29 '17

Yes I use a template now.

properties (22)

@the-ivor · Jun 29 '17

$0.19

How many times to people have to get burned?

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

It's like people forget every time.

properties (22)

@theawakensheep · Jul 2 '17

I faced so many problems too, poloniex is freaking annoying... and I will move from it soon too, maybe to bittrex or to a decentralized exchange... and when I have done that, I will send to every email that poloniex has your post XD

properties (22)

@thomaskikansha · Jul 3 '17

$0.38

trying Bittrex for now..

👍 cryptoctopus, thecryptofiend, jesta, middle-theory, redpill

properties (23)vote details (5)

@titotips · Jun 30 '17

$0.19

I agree 100% with you, I´ll resteem this since we share the same opinion.

👍 thecryptofiend, middle-theory, titotips

properties (23)vote details (3)

@thecryptofiend · Jun 30 '17

Thanks!

👍 titotips

properties (23)vote details (1)

@tomber · Jul 1 '17

$0.18

I also almost cleared my Poloniex account. I've made a support ticket about 1,5 week a go and still no answer...

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jul 2 '17

Keep trying!

properties (22)

@tvulgaris · Jun 29 '17

$0.19

As a brand-new trader, I'd read enough warnings about Poloniex to be cautious. This escalation in your continuing customer support problems  confirm my current assessment.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@ulfr · Jun 29 '17

$0.19

this is no good news but with bittrex we have a very good alternative I would say.

👍 thecryptofiend

properties (23)vote details (1)

@thecryptofiend · Jun 29 '17

Yes they have better customer service.  Always a risk to use an exchange but Bittrex seems to be the best right now.

properties (22)

@unspeakableme · Jun 29 '17

$0.19

Haven't reached the point of outside trading yet but any recommendations for when I do? Thanks for the heads up

👍 thecryptofiend

properties (23)vote details (1)

@thecryptofiend · Jun 29 '17

Bittrex is best for altcoins in my personal experience.

👍 unspeakableme

properties (23)vote details (1)

@unspeakableme · Jun 30 '17

$0.19

Thank you!

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@usammiismi · Jun 29 '17

$3.45

I never use poloniex before, but my friend said it was good. And then this problem occure and people have their sbd pending. Its like they are not ready when this huge transaction came overnight. They should be more professional.
To have such a problem could make more people to switch to bittrex or blocktrades.
I wish bittrex and blocktrades wont have the same problem.
Or maybe you have another sugesstion where to trade?

👍 usammiismi, thecryptofiend, esteemapp, feruz, robertusa, bounties, steempoll, demo, tipping, mysteem, taongam

properties (23)vote details (11)

@askaboutcrypto · Jul 1 '17

Is blocktrades the same type of exchange that Polo is? Does it have the same availability of coins that Bittrex and Polo offer? If it doesn't then it really isn't an option

properties (22)

@steemboys · Jun 30 '17

Bittrex acutally worked pretty pretty well. One problem i had though . I was desperately looking for my btc balance. Turned out that i left the name of another cryptocurrency in a small searchbar on bittrex. Even after relogging i couldnt find any balances. The searchbar wasn't easy to detect :)). Took me good 20minutes

👍 joebitcoin

properties (23)vote details (1)

@thecryptofiend · Jun 29 '17

$0.02

Bittrex is best right now. Shapeshift and Blocktrades are good if you don't want to make an account and are willing to pay a higher price for convenience.

👍 blubeast

properties (23)vote details (1)

@bledarus · Jun 30 '17

$0.19

the thing is that.... when an exchange becomes the top 1 it also becomes the most likely to be targeted.... same thing happened at mtgox...  same thing with bitfinex now with poloniex... they will always target the top exchanges... it's either governments attacking those sites or thieves....

👍 thecryptofiend, bledarus, middle-theory

properties (23)vote details (3)

1 reply

@blubeast · Jun 30 '17 (edited)

$0.18

+1 for Bittrex.  I kept buying smaller coins on Poloniex only to find out that withdrawal had been "temporarily disabled".....for weeks.  And I wasn't buying them in small quantities.  I stopped using Poloniex a month ago.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@doggocoin · Jul 1 '17

$0.17

I too switched to Bittrex. I change between Bittrex and Shapeshift depending on how quick I need to change coins into other coins.

Polo made me sweat too much when Siacoin was in limbo.

👍 thecryptofiend

properties (23)vote details (1)

@englishtchrivy · Jun 29 '17

$0.25

I switched to bittrex too
but I was always happy with polo experience wise
unfortunately .. many issues have been written about them so I made a switch

👍 thecryptofiend, runrudy, middle-theory

properties (23)vote details (3)

1 reply

@moderninvestor · Jun 29 '17

$0.19

even bittrex has been showing issues for people, many people have been saying that their deposits arent showing up

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

3 replies

@valiozzi · Jun 29 '17 (edited)

$0.19

My advice to you guys is to hedge and diversify your risks and play around with smaller sums. That is, divide your sum into smaller portions and send the next one only after the previous one got through. Or maybe hold your coins if they are not so widespread currencies until some decent exchanging thing turns up

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Always a good strategy.

properties (22)

@vm2904 · Jul 1 '17

$0.03

Wow - As a newbie to the crypto world,  I had started dabbling in crypto with Poloniex recently.   I did get a few glitches but did not know the seriousness of the issues.  Your article is an eye opener.   Very helpful for minnows like me who have just entered the crypto world and have started learning things on the Steemit platform.   Support, guidance such as this article and encouragement from Senior Steemians like you is really nice.    Thanks

Upvoted

I request you to visit my latest blogs when you have time and leave your valuable comments. I have posted a blog about a mystique boat ride on the river Ganges :)

Regards,
A minnow (15 days old)
![minnow.jpg](https://steemitimages.com/DQmbu7AX4283YtGpsoFuinDjvFZX9fMZKKqxK5rP6qtTArD/minnow.jpg)![steemit1.png](https://steemitimages.com/DQmQQGSaofddbQhRmpwwvZpSQUC6BNz7ynmmxPTFaMMR4w3/steemit1.png)

👍 vm2904

properties (23)vote details (1)

@thecryptofiend · Jul 1 '17

Glad you like it.

properties (22)

@wannerbet · Jun 29 '17

$0.19

Bring on decentralized exchanges .. the only permanent solution to these rough exchanges.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

Yes.

properties (22)

@waru96 · Jun 29 '17

$0.19

i also faced ethereum problem in polonix..then im also stopped it..
this case is also by a my friend..
Hello,

I had a lot of "Poloniex error 429: Too Many Requests." errors during the 2 last days.
After restarting the bot, this error temporary disappeared but I wasn't constantly monitoring papertrail.

Now I'm seeing the following error:
notice: returnOpenLoanOffers: Poloniex error 429: Too Many Requests. This IP has been temporarily throttled. Please ensure your requests are valid and try again in one minute.

So I've stopped the bot and I'll restart it a bit later. Is there a way I could avoid this kind of issue? Doesn't always happen, but when it does, if there is no manual restart, the bot will keep spamming the poloniex API and the API will keep returning this error.

👍 thecryptofiend, middle-theory, waru96

properties (23)vote details (3)

@thecryptofiend · Jun 29 '17

Not sure.  I think they may have banned your IP because they mistook it for a DDOS attack.

👍 waru96

properties (23)vote details (1)

@waru96 · Jun 29 '17

$0.19

yeah my case is okay..its my friends case..okay mate thank you...

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@willybobob · Jun 29 '17

$0.19

I hear a lot of bad things about Poloniex and people in limbo for a month or longer with their funds tied up. I personally have never had an issue but I don't think I will use them anymore after hearing all the horror stories .

👍 thecryptofiend, middle-theory, willybobob

properties (23)vote details (3)

@thecryptofiend · Jun 29 '17

$0.38

Yes in fact I think one of the actual reasons for removing the Trollbox was to remove the people asking questions about why their withdrawal was still stuck after more than a week.

👍 metrox, willybobob

properties (23)vote details (2)

@quantumpoker · Jun 29 '17

$0.19

as I understood it, the delays were being experienced by people who had applied for higher tier levels to handle more money... verifiying these request takes time because the info( required for the KYC and AML regs)  is processed manually...   I seem to remember hearing that withdrawals would not be possible till the level up had been completed...  I could be wrong..  I never levelled up, because my account is pretty small..    I have withdrawn small amounts recently with no problem and no delays...

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

2 replies

@writemore · Jun 29 '17

$0.20

I use poloniex and was wondering why? then started using bittrex  .I found that bittrex  platform is to complicating and by the time you find a trade you wish to trade, you are to frustrated to make another. So I went back to poloniex . However this week or when trades look more lucrative  the cypto is disabled . SO I AM LOOKING FOR THE BEST OF BOTH WORLDS ,a platform that is easy to work with and one that is more customer efficient, if you have one that has these properties please share it with me.

👍 thecryptofiend, writemore, middle-theory

properties (23)vote details (3)

@thecryptofiend · Jun 29 '17

There isn't one.

properties (22)

@xrypto · Jun 30 '17

$0.18

Exactly my thoughts.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@xxvjs · Jun 29 '17

$0.19

Is it better to use Bittrex than?  Someone wrote few days ago ago that there are also some problems with Bittrex and he recommends Blocktrades. I tried to use it and the rate was 3x lower (!!) than on Bittrex. I was suprised that the difference was that big.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

All exchanges have problems from time to time - it is how they deal with it that makes the difference.  With Blocktrades you may have a higher price but you have less risk as you don't need to deposit money with them.  Bittrex is working fine right now as far as a I know.

properties (22)

@zeartul · Jun 29 '17

$1.06

Damn  I do love their lending platform though.

👍 zeartul, thecryptofiend, middle-theory

properties (23)vote details (3)

@zebbad · Jun 29 '17

$0.19

I just started out in the crypto world with Poloniex, nearly 100% of my investment is on my Poloniex account. 

It's a minor amount (just 0.2 of a bitcoin and 0.5 of Ethereum) and I feel it will cost more to more it over to my bittrex account than i've actually gained so far. 

I bought my first coins when the prices were high and then the market crashed so I'm not even in profit yet.

What would be your advice?

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@thecryptofiend · Jun 29 '17

If it is all you have you shouldn't keep it on an exchange to be honest.  It would make sense to move at least some of it onto your own wallets.

properties (22)

@zerometal · Jun 29 '17

$0.26

Maybe in the future poloniex will not tradeSteem Dollar anymore, so they no longer accept deposit in the form of SBD

👍 thecryptofiend, rahmadi, zul.idris79, bellajulia, violetarona, iskandarfauzi, affandi, fgyon, middle-theory, milenia, zerometal

properties (23)vote details (11)

@thecryptofiend · Jun 29 '17

Why would they do that?

properties (22)

@heretickitten · Jun 29 '17

$0.19

They'd do it to ruin a system where you can get cryptocurrency anonymously, is my guess. 

I'm sure certain people would love to Steem be weakened, seeing as it's sort of a hive for anarchistic and non-traditional thought as well.

👍 thecryptofiend, middle-theory

properties (23)vote details (2)

@zerometal · Jun 29 '17

$0.24

maybe

👍 thecryptofiend, rahmadi, zul.idris79, bellajulia, affandi, fgyon, middle-theory, milenia, zerometal

properties (23)vote details (9)

@zinouha · Jun 29 '17

$0.20

please don't hear like posts about poloniex because i love it and my money all of are in it, i am afraid that poloniex steal my money, make me hope to get things good and well with my favour exchange

👍 thecryptofiend, zinouha, middle-theory

properties (23)vote details (3)

@hasher · Jun 30 '17

They can turn it around if they just listen. glad they got rid of that troll box. was probably lagging the site and always full of fud and hype comments.

properties (22)

@thecryptofiend · Jun 29 '17

I hope you are joking.

properties (22)

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`category`	cryptocurrency
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`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	105
`author_reputation`	10,304,119,329,167
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
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voter	rshares	pct
thecryptofiend	21,023,971,730	1%
myb	83,781,659,607	100%
middle-theory	469,255,122	1%

`author`	figox
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t145804882z
`category`	cryptocurrency
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`pending_payout_value`	0.000 HBD
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`body_length`	87
`author_reputation`	1,849,887,910,059
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
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`percent_hbd`	10,000
`post_id`	6,633,591
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`author_curate_reward`	""

`author`	fraterralph
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t150340364z
`category`	cryptocurrency
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`curator_payout_value`	0.003 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	381
`author_reputation`	535,570,480,703
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
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`author_curate_reward`	""

`author`	gduran
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t184344412z
`category`	cryptocurrency
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`last_update`	2017-06-29 18:43:48
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`body_length`	179
`author_reputation`	58,038,010,577,578
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
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`author_curate_reward`	""

`author`	heretickitten
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t214830720z
`category`	cryptocurrency
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`last_update`	2017-06-29 21:48:30
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`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	512
`author_reputation`	30,612,025,911,746
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	6,681,558
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`author_curate_reward`	""

voter	weight	wgt%	rshares	pct	time
thecryptofiend	0 B		21,053,493,324	1%
middle-theory	0 B		469,255,122	1%

`author`	hqmafa420
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t171825796z
`category`	cryptocurrency
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`last_update`	2017-06-29 17:18:24
`depth`	1
`children`	3
`last_payout`	2017-07-06 17:18:24
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.144 HBD
`curator_payout_value`	0.045 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	153
`author_reputation`	2,753,568,116,059
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
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`percent_hbd`	10,000
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`author_curate_reward`	""

`author`	inspiringty
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170630t073155813z
`category`	cryptocurrency
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`created`	2017-06-30 07:31:57
`last_update`	2017-06-30 07:31:57
`depth`	1
`children`	0
`last_payout`	2017-07-07 07:31:57
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.142 HBD
`curator_payout_value`	0.043 HBD
`pending_payout_value`	0.000 HBD
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`body_length`	20
`author_reputation`	437,832,169,304
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
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`author_curate_reward`	""

`author`	inviterx
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t141616280z
`category`	cryptocurrency
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`created`	2017-06-29 14:16:21
`last_update`	2017-06-29 14:16:21
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`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.182 HBD
`curator_payout_value`	0.005 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	27
`author_reputation`	371,803,882,756
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	6,628,822
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`author_curate_reward`	""

`author`	jobling
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t145537908z
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency"],"app":"steemit/0.1"}
`created`	2017-06-29 14:55:39
`last_update`	2017-06-29 14:55:39
`depth`	1
`children`	4
`last_payout`	2017-07-06 14:55:39
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	190
`author_reputation`	-1,130,096,547
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	6,633,323
`net_rshares`	-1,116,095,685
`author_curate_reward`	""

`author`	joebloggs
`permlink`	re-thecryptofiend-why-i-have-stopped-using-poloniex-exchange-completely-now-20170629t173940421z
`category`	cryptocurrency
`json_metadata`	{"tags":["cryptocurrency"],"app":"steemit/0.1"}
`created`	2017-06-29 17:39:45
`last_update`	2017-06-29 17:39:45
`depth`	1
`children`	3
`last_payout`	2017-07-06 17:39:45
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.144 HBD
`curator_payout_value`	0.045 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	449
`author_reputation`	3,557,428,805
`root_title`	"Why I have stopped using Poloniex Exchange completely now."
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	6,653,629
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`author_curate_reward`	""