What a week!!! First all those raids in South Korea. Therefore we experienced another big price drop of BTC within one week. Now the scheduled maintenance from Kraken seems to turn into Mt Gox #2. I used them for daytrading, therefore I have about 100k sitting there.
I have a very bad feeling about Kraken currently. Working in IT myself you always have a backup plan performing system upgrades. So if you can't make an update work roll back to the last point of yourbackup. I worked for companies where an hourly outake would cost between 75 and 100k turnover. And those companies had to put a backup plan in place to cover their working environment that they are back in business after at least 24 hours. Imagine the $$$ a plattform like Kraken loose during one hour of downtime. And they don't have a working backup plan? No way! There is something much bigger going on.
I went to the DarkNet looking for some insights. Guess what? It seems one of those dudes over there came up with a good explanation, somehow a little bit vague but I tend to start believing: Imagine a company with a net worth of xxx millions made a fortune by trading BTC or other cryptocurrencies on Kraken. Instead of paying capital gain tax now in the US claim all invested money lost by the 'hack' of their used cryptoexchange plattform alias Kraken. You see where this is going....
Hopefully I am wrong, but right now I am preparing mentally that Kraken will turn out to be Mt Gox #2 on Monday! Any BTC donations are mostly welcome: 1JbHdhg7gg9ceXo683TFmwhG4XUcVzTYif
If I loose this money...well guess then I don't have the $ to invest/trade at all.
man hopefully it will come back without those 502 errors all the time. just dreaming...
at least moved most of my portfolio out of kraken in the weeks before thanks to those errors
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at this stage I would already be happy if they come back at all - but like I said I doubt it -which exchange do you use now instead?
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The only way to safeguard your cryptos and your crypto profits is to trade in small volumes and immediately move your gains off the exchanges. Never store your coins/tokens on the exchanges - move them to hardware wallets.
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In theory this sounds ok and will apply for most users. And this advice won't allow you to buy on dips becasue it simply takes too long to get you money transfered to an exchange whn a dip happens.
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