Poloniex is the main exchange platform for altcoins, but it is apparently way too weak to handle volumes of the last couple of days. On top of that, Polo is not prepared to fight DDoS attacks whatsoever. It crashed like 3-4 times in 2 days. That's brutal.
Is Bittrex any better? I am considering leaving Polo for good until it fixes those problems.
My Stellar story:
1 - I smelled money
I bought myself into STR just before the pump for 0.45 BTC. I knew that the end was near, but I figured I would go for it on a short run to make some fast profits.
2- To the m00n
I won't lie, I was happy to see the price skyrocketing faster than my wildest dreams. I wanted to sell it at 4.3k first, but it just kept going. In 10 seconds it was 4.5k already. I was like "should I sell?" but the price kept growing. I was already ordering myself a lambo on Ebay when I pressed "sell" at 4.8k.
3- The ball dropped. Polo crashed. Me too.
My order was not placed... obviously. That was a freaking awkward moment to see the system crashing right before my order. I was 3 seconds too late... And my money was gone. Anger and frustration took over.
This one minute was a roller coaster to me. The only problem that Polo had problems with the carousel, so I crashed right into a freaking wall without any chances to save myself.
4- Reality hit hard
Every bubble explodes. Sadly, STR exploded right into my face. I had to settle for 0.2 BTC loss instead of 0.12 BTC profit. What can I say? Classic DDoS + dump scheme destroyed me.
It is funny now but I must say that it was a very hard hit to me. It was sad to lose money because of the stupid system.
Trading tip:
Take everything into consideration and don't be FOMO. Believe me, it sucks to be a bagholder.
Also, let me know what is the best alts exchange platform? Polo is def the most popular, but maybe there is something better? I just don't like the idea of losing $500 just because of some stupid crashes.
Bittrex has worked great all week for me, no issues.
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Yeah, even though I like Polo's interface better, I think Bittrex will have to do for a while.
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Agreed, poloniex interface is way better. Ironically, I ended up on bittrex because when I tried to sign up on poloniex last year there was an issue and I didn't want to wait. I will take functionality over aesthetics all day!
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Poloniex saved you from itself :D
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I use Bittrex and Poloniex. I've never had any problems with Bittrex, but then again I don't trade very heavy.
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Yeah, I heard Bittrex is better from security pow. However, I really enjoy Polo apart from the lags. The system is easy to use and quite convenient. Sadly, I'll have to leave it anyway if they are not fixing their problems.
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You will get it back with this post. That's why we have Steemit ;)
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Trade -> Lose money -> bitch about it on Steemit -> get paid for it -> repeat.
I already made $5 back. Few more hundreds to go!
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I lost 200$ in this scheme too, so waiting now when it will cost 0,00003. hopefully by the weekend, when bitcoin will drop
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I feel you... It really sucks. I would love to see price dropping as well before the next pump.
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It lags more than it works... That's not cool at all. Even this happened: http://www.poloniexlawsuit.com/
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Shit!!!....i still got some steem on Polo,lemme got get rid of them if Polo is crumbling...Thanks for the SOS message mate!
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You are welcome! Funds are pretty safe IMO (you never know with all the stuff happening, tho), it's just that the system lags more than it works and it's impossible to trade properly. If you are not trading, you should def store your crypto somewhere else.
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If enough people complain they will listen. And they better listen since volume will only increase this summer.
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This happened already: http://www.poloniexlawsuit.com/http://www.poloniexlawsuit.com/
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When an exchange has problems like this, they should probably freeze trading until they fix/upgrade their servers and/or improve their security. It's really inexcusable to have this repeatedly happen.
If you can't handle the volume, it's time for an upgrade. Stop being stingy, @poloniex. You're making plenty of money on fees to cover the costs.
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yeah, I agree. Sadly, there's too much money flowing in. Polo won't want to freeze trading (they could invest in system tho). But this http://www.poloniexlawsuit.com/ still made my day. Quite funny IMO.
@poloniex what's up with the lag? It crashed 4 times today already.
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Lost 1BTC in this dump
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Holy shit... I feel sorry for you @samether. But then again, things like that happens while trading. Long-run profit is what matters.
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Really appreciate the post! I am in the same boat with you. @scaredycatguide is right, I agree that Bittrex has worked well.
I have been seeing an increasing number of ticket claims in the trollbox as well.
Especially heading into the next few months of guaranteed turmoil in the cryptocurrency world, be safe trading folks!
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Yup, I just don't like that volumes are so much lower on Bittrex. Also, Polo has been working pretty fine for the last couple of weeks. That said, we should really be cautious about stuff which is going on in crypto world now. The rest of the year will be crazy either way and it will all come down to perfect timing if we want to make some money.
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