My $500 SBD finally arrived on Poloniex, 3 weeks after I deposited it. My BALANCED THOUGHTS on these guys, after hearing every excuse in the book why they suck. It's whitewashed PROPAGANDA.
I hope you get all your funds off of Polo asap if you have anything there.
The continued longstanding issues like this with Poloniex have continued. I don't want to hear about them having scaling issues with their staff or equipment, due to increased customer base and volume any more, that is the buzzword of the last 2 years.
That is WEAK.
I don't want to hear about " Don't leave your coins on an unregulated, centralized exchange where you don't control your keys" etc.
That is WEAK.
--
1/ There are a ton of new people coming to crypto daily, who are new to this, like we ALL were, when we started.
-- Who's looking out for them???
2/ Why should we be punished or shamed, when trying to move coins to an exchange for a brief period, to actually EXCHANGE them? That's right in the company name/profile right? Poloniex is still an exchange, right?
3/ When we go to make a deposit, and it DOES NOT SHOW up, how is that our fault, especially waiting for 1/2/3 weeks and you cannot get a response from them, or open a ticket????
4/ Related obviously, -- How do you exchange coins that NEVER SHOW UP when you deposit them??
These are not occasional glitches, or anomalies. This crap has become their hallmark.
This has been happening day after day, week after week for MONTHS now and you know it-- you see the posts online about this too.
Companies are labelled as incompetent when this much trust is lost once en masse, let alone month after month after month.
Most of us are reasonable, and know mistakes/glitches happen.
-- This is NOT that.
What to do? Solutions?
Short Term:
Do we rise up, move all our coins off there, and completely boycott them and reduce their liquidity, and thus their business to send them a message?
Do we start one official movement / hashtag / petition to circulate globally and put the pressure on them?
The Rise of the Truly Decentralized Exchange:
Long Term:
The Bitshares / Open Ledger / TradeQwik ( @tradeqwik ) exchanges / communities etc. offer better long term solutions obviously - but the liquidity / volume is low, and have a lack of coins, so we are in a catch-22 holding pattern, stuck in the middle as customers.... as usual.
Most every other exchange does not have any of these issues and certainly a lot less of them!!
If these smaller exchanges can function, and scale, then WTF is going on with Poloniex, the biggest in the world, with the most coins, the most liquidity and the most gross income from a corporate perspective every month?????
In brief, here are the facts, not just my opinions on Poor-Service Polo:
They make a TON of money. They are the biggest exchange in the world and have been for some time, grabbing chunks of millions of dollars of trades every week.
--
This Crypto Gold Rush and Boom -- has not happened overnight. It has been quick, but you know what??? Everyone in this space saw the increases in accounts opened, trade volume, coin values, month over month over month the last 6/12/18 months and NOBODY can argue that simple point.
If they did not improve their equipment and service and staff levels, that is NOT our fault as customers, that is on POLONIEX, period -- full stop.
If they were in a regular (read: more regulated space) -- they would be sued for wilful non or malfeasance - meaning refusal to provide meaningful, adequate levels of service.
--
They remove the Troll Box staff, saying they will be dedicated to customer service -- well, the C/S still sucks. That was what? - nearly 3 mths ago now?
They refuse to answer support tickets -- heck, at times you cannot even login or sign in to friggin open one -- which is super sketchy! I have seen likely hundreds of comments, posts, replies, tweets, facebook status posts/replies, saying the same 2 things month.... after month..... after month.
How hard is it for them to hire 2? 3? 5? more staff making fistfulls of cash every day, and upgrade a couple pieces of equipment or servers or lines maybe once a month???
They constantly shut down people's wallets or specific ones without notice, and for extended periods.
Some of them continue to be among the biggest crypto currencies traded in terms of volume or dollars, like the Ethereum and BitShares wallets, 2 coins constantly in the top 5/10 currencies every.... friggin....day.
The 2 STEEM currencies are just another example of extended outages with no good reason, no notice and no assistance.
My recent past posts warning new/older Steemians & Crypto folks:
Sneaky Poloniex timestamped all the deposits making it look like they have been there all along, using the date of OUR deposit on the customer end. Not the date they showed up.
I do not have a ton of money laying around, but that $500 lost in limbo cost me literally at least 20% on my money, gains from alts or BTC I need in my life and around $300 USD on the SBD losses as the currency dropped as they held my deposit:
Poloniex cost me ~ $400 USD during this time with 2 obvious co factors:
During the time it was down, and never showed up, I not only lost the opportunity to earn passive income trading those coins for others for those gains with the alt coins, I also deposited it 3 weeks ago when SBD was trading WAYYYYY up around the $1.50 USD range and now it is way down at the $1 USD peg/mark.
Tangibly and realistically being small c conservative here being a numbers guy, Poloniex cost me ~ $400 USD based on the recent performance of my crypto trading decisions, stacking coins, and market making decisions.
Thanks for reading, have a nice day.
If you liked this blog post - please Resteem it and share good content with others!
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I hope you get all your funds off of Polo asap if you have anything there.
The continued longstanding issues like this with Poloniex have continued. I don't want to hear about them having scaling issues with their staff or equipment, due to increased customer base and volume any more, that is the buzzword of the last 2 years.
That is WEAK.
I don't want to hear about " Don't leave your coins on an unregulated, centralized exchange where you don't control your keys" etc.
That is WEAK.
--
1/ There are a ton of new people coming to crypto daily, who are new to this, like we ALL were, when we started.
-- Who's looking out for them???
2/ Why should we be punished or shamed, when trying to move coins to an exchange for a brief period, to actually EXCHANGE them? That's right in the company name/profile right? Poloniex is still an exchange, right?
3/ When we go to make a deposit, and it DOES NOT SHOW up, how is that our fault, especially waiting for 1/2/3 weeks and you cannot get a response from them, or open a ticket????
4/ Related obviously, -- How do you exchange coins that NEVER SHOW UP when you deposit them??
These are not occasional glitches, or anomalies. This crap has become their hallmark.
This has been happening day after day, week after week for MONTHS now and you know it-- you see the posts online about this too.
Companies are labelled as incompetent when this much trust is lost once en masse, let alone month after month after month.
Most of us are reasonable, and know mistakes/glitches happen.
-- This is NOT that.
What to do? Solutions?
Short Term:
Do we rise up, move all our coins off there, and completely boycott them and reduce their liquidity, and thus their business to send them a message?
Do we start one official movement / hashtag / petition to circulate globally and put the pressure on them?
The Rise of the Truly Decentralized Exchange:
Long Term:
The Bitshares / Open Ledger / TradeQwik ( @tradeqwik ) exchanges / communities etc. offer better long term solutions obviously - but the liquidity / volume is low, and have a lack of coins, so we are in a catch-22 holding pattern, stuck in the middle as customers.... as usual.
Most every other exchange does not have any of these issues and certainly a lot less of them!!
If these smaller exchanges can function, and scale, then WTF is going on with Poloniex, the biggest in the world, with the most coins, the most liquidity and the most gross income from a corporate perspective every month?????
In brief, here are the facts, not just my opinions on Poor-Service Polo:
They make a TON of money. They are the biggest exchange in the world and have been for some time, grabbing chunks of millions of dollars of trades every week.
--
This Crypto Gold Rush and Boom -- has not happened overnight. It has been quick, but you know what??? Everyone in this space saw the increases in accounts opened, trade volume, coin values, month over month over month the last 6/12/18 months and NOBODY can argue that simple point.
If they did not improve their equipment and service and staff levels, that is NOT our fault as customers, that is on POLONIEX, period -- full stop.
If they were in a regular (read: more regulated space) -- they would be sued for wilful non or malfeasance - meaning refusal to provide meaningful, adequate levels of service.
--
They remove the Troll Box staff, saying they will be dedicated to customer service -- well, the C/S still sucks. That was what? - nearly 3 mths ago now?
They refuse to answer support tickets -- heck, at times you cannot even login or sign in to friggin open one -- which is super sketchy! I have seen likely hundreds of comments, posts, replies, tweets, facebook status posts/replies, saying the same 2 things month.... after month..... after month.
How hard is it for them to hire 2? 3? 5? more staff making fistfulls of cash every day, and upgrade a couple pieces of equipment or servers or lines maybe once a month???
They constantly shut down people's wallets or specific ones without notice, and for extended periods.
Some of them continue to be among the biggest crypto currencies traded in terms of volume or dollars, like the Ethereum and BitShares wallets, 2 coins constantly in the top 5/10 currencies every.... friggin....day.
The 2 STEEM currencies are just another example of extended outages with no good reason, no notice and no assistance.
My recent past posts warning new/older Steemians & Crypto folks:
Sneaky Poloniex timestamped all the deposits making it look like they have been there all along, using the date of OUR deposit on the customer end. Not the date they showed up.
I do not have a ton of money laying around, but that $500 lost in limbo cost me literally at least 20% on my money, gains from alts or BTC I need in my life and around $300 USD on the SBD losses as the currency dropped as they held my deposit:
Poloniex cost me ~ $400 USD during this time with 2 obvious co factors:
During the time it was down, and never showed up, I not only lost the opportunity to earn passive income trading those coins for others for those gains with the alt coins, I also deposited it 3 weeks ago when SBD was trading WAYYYYY up around the $1.50 USD range and now it is way down at the $1 USD peg/mark.
Tangibly and realistically being small c conservative here being a numbers guy, Poloniex cost me ~ $400 USD based on the recent performance of my crypto trading decisions, stacking coins, and market making decisions.
Thanks for reading, have a nice day.
If you liked this blog post - please Resteem it and share good content with others!
Some of my recent blogs:
--
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
--
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
I humbly submit that we also subject Coinbase to whatever treatment we decide. I feel like they are almost as messed up. Weeks to get response via support, and often they just auto-close your ticket. Flash crashes liquidating people's Eth at $.13 USD, constant outages, locking out accounts, accidental account deletions...you name it.
I hear ya, I sort of stayed away from Coinbase for a few reasons.
https://steemit.com/comic/@lighteye/b-c-stands-for-blockchain-may-07-2017-poloniex
Do you have any idea why you cannot withdraw Bytecoin (BCN) from poloniex? Any idea when that will be possible? They have been taking a beating but I still have faith that this will eventually become relevant. Great article! Upvoted and followed!
Thanks.
As the article and many of us say daily, we have no idea why Poloniex does half the crap they do.
Waiting a full month for a STEEM transfer from POLO to Steemit Wallet. No answer on my support ticket. This morning my account was denied, and I don't even know why. I was able to login from a tablet though. I want to transfer, but the act of selling costs fees, and then what happens if more transactions get lost? One question that perhaps people can chime in on is: which coins have you successfully transferred off Poloniex without any issues in the past? Thanks!
Every coin I have transferred off Poloniex has been without a problem. I have not had a single problem ever. I have withdrawn
STEEM,Nav coin,Vertcoin,Stratis,Bitshares,Digibyte,ETC,XRP,SYSandBTC. Not a single time has my transaction been delayed for approval. And do you know why? Because I have level 2 verification and 2FA enabled. THAT SIMPLE. They know who I am, and therefore they don't need to manually check transactions for possible money laundering or financing of terrorism as they are required to by US law.No.
Just because YOU have not had a problem, does not mean the problems do not exist.
No.
Just because you may not have had issues TIMING YOUR TRANSACTIONS -- does not mean this problem does not exist.
No.
Just because you have enabled verifications on those levels, does not mean the problems do not exist or that the "terrorist" spin is going to hold up.
Gov'ts are actually the biggest terrorists going, from a clinical definition.
You kinda sound like the bureaucrat or statist that is enabling the excuses and ineptitude, the rest of us are trying to get away from, and holding people/companies to account and demanding decent service for fees paid and related transparency.
No.
Your arguments do not hold up here.
Poloniex def SUCKS. I have level 2 verification and 2FA and had over a thousand sitting in limbo for almost 2 weeks. MAJOR loss and NOTHING I can do. Totally not fair. If they were any normal company I would have their balls, discounts, free shit and more.
When Quinn lowers the boom on something, it is really lowered LOL.
Be blessed my man.
BOOM!!!!
And actually, you and all your peeps should read this....
If you have a JAXX wallet or thinking of it, or know people with one etc -- you will want to check the post up on my page just now.
Talk to you soon, it is nice hearing from you
I don't but will check ur post anyways!
Thanks!
Sounds like a simple solution which I should turn on. Thoughts from others on this? It's simple, yet simple answers are often the best ones.
My reply to this is above Michael. His experience are not that of a wide variety of the masses here on this issue and it is deflecting the problem away from Poloniex.
That -- is simply put.
LOL
I have same verification but my Steem and SBD got stuck for a very long time, finally it was deposited today.
Ditto
I was able to transfer Bitcoin and Litecoin out but on the last Bitcoin transfer I made It took a very long time and took five confirmations when it normally takes three
So you are all out of Polo now Jeffy???
+1 man, tell others.
No, I am putting more into it because it has survived an attack. Years ago, CEX.IO went through this where some anarchist anonymous hackers tried to destroy the exchange. They survived. We live and we learn. We learn and we make things more secure. Once they are made more the experience is better for users.
All crypto is a risk. Just because an exchange is safe today does not mean it cannot go down tomorrow. All exchanges, like all banks and credit card companies, all businesses are attacked every day by hackers. That's life
Glad to see everyone chime in. It looks as if nobody is safe, even with highest levels of security. Methinks that at Poloniex "it hits everyone at some point." Kinda like fender benders and medical issues.
I recently got all my coins off of Poloniex.
I have my BTC on Bittrex, all my BTS/Graphene stuff on OpenLedger and some small amounts of coins on @tradeqwik due to my crown/TQS holdings.
I will never use Poloniex again.
Solid UV's on your comments today.
Thanks for taking time for us here today my friend, it is good to hear from you on these things!!!
Poloniex is a sinking ship, IMO. They've proven themselves as incapable of handling this business.
I love how when SBD deposits ate shit, they were at around $1.60 USD per SBD and the day they start magically working again for no reason, the price had tanked roughly 40% to $1.00 USD per SBD. Thanks for the massive loss, Poloniex!
Also a big time amen goes to BitShares. It needs love, development, and USE!!! That can't happen without people.
You have echoed everything I said here in this article man, to the T.
I am so glad having your comments and support.
Thanks my man.
If I can help you and know what you are up to, I will always do my best to try.
OMG man I FEEEL your pain!
I have had $$ sitting in limbo for over two weeks now and its still not gone through. Costing me so much $$$ not to mention peace of mind.
It really is not good business and should not be acceptable.
Normaly any big company has good customer service because they HAVE to otherwise they get ripped apart.
Normally when things don't go as business is supposed to there is compensation.
With polonex they fuck you and don't even apologize let alone compensate.
Something needs to be done. I won't be using them anymore. Taking everything out and not using them when at all possible.
My 10 pm offline deadline is here!!!
You are right, I am feeling the same and I am stoked you read this post and it hit home, I am proud of this post, and the comments here today.
FU Poloniex.
LOL,
Pls tell Miss Sara I said goodnight if you do not mind yelling down the tin can phoneline there like us good hippies like to keep set up for when the grid goes down -- or we remove ourselves from same.
Nite my friend.
TY for commenting. I asked Sara to read this today too.
And here I am reading it now! And nodding strongly in agreement!
Still awaiting approval on transactions, with no communication from customer service.
Poloniex is not good business for the user experience, but I'm sure they're making a cool buck--that's not sustainable, or honorable. This comes to my mind:
I had not heard of this video but the 1% stuff I have seen a lot of in my activism life and used it when needed.
This is why I am a dues paying member of COMER.org -- to get the Canadastan fascist govt off our money supply and return it to the PEOPLE.
Sleepy masses and scaredy cats, prevent real gains for humanity.
I admire you so much for so many reasons Miss Sara.
That's a lot of the reason why I live the lifestyle that I do too!
Thanks for your constant encouragement, Barry!
hahahahahhaaha
Yes FU Poloniex and sure I will give sara a wink for ya ;-)>
LOL Quinn!!! And thanks.
hahahahahaha
Fuck EM!
Thanks again my man. I know you will be an advocate for calling out stuff like this and also informing others of crap like this.
Indeed I will!
finally! cheeers, but sorry to hear boutthe loss
Thats bad.
But your posts are awesome.
LOL, thanks -- I appreciated that comment LOL!!
Had my doubts about Poloniex for some time. Where are they physically located? No one seems to know. They are registered to an address in Delaware, but that is just a corporation registering business.
You raise good points here.