Poloniex is following the Cryptsy curve here pretty closely:
Disabling front end while allowing API to gorge on orders at critical peak volume times:
CHECK
Disabling withdraws for long indeterminate periods of time:
CHECK
Disabling the chat so users can't see how many problems they are having:
CHECK
Blaming problems on coin chain protocols even though they are the only exchange having issues:
CHECK
Users going weeks with unanswered customer support tickets:
CHECK
Owner fleeing to China:
TBA
The pattern of events here is getting eerily similar... prepare yourselves. I suggest abandoning Poloniex.
Read more at: http://www.truthbesold.com/
Similar articles:
https://steemit.com/cryptocurrency/@ericarthurblair/is-ethereum-a-trojan-horse
https://steemit.com/cryptocurrency/@ericarthurblair/the-future-of-cryptocurrency
This is a very important post, and something to keep in mind.
We need decentralized exchanges for alt coins asap.
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Pretty much agree with you. I have had a bad experience with Poloniex myself. Decentralised exchanges are the future. https://steemit.com/bitcoin/@gokulnk/why-i-am-moving-to-bitshares-and-you-should-too-part-1 The only challenge they need volumes :)
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I must admit when the trollbox got shut down I was concerned . particularly since before that I saw post after post talking about stuck deposits.
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I was around for the entire life of Cryptsy as well, and I was warning people years before they folded that they were not to be trusted. There are so many parallels here it is scary. I don't expect Poloniex to last much longer.
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I hope you got out in time. The main thing that bothers me about Poloniex is that so little is known about the CEO. There's a Linkedin page that says he's a musician and that's about it. No interviews, nothing. I also remember seeing a Reddit thread where people were questioning the legitimacy of the company address.
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I did. I had a very small amount left in for trading since there were no really good alternatives for altcoin trading at the time, but it was an inconsequential amount. The CEO being a shady character does not surprise me. I bet he has his tickets to China ready to go.
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You've definitely given me something to think about, I think I'm moving over to Bittrex, I already have an account there just never traded there before.
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Yeah, avoiding Poloniex altogether. I've been using Coinbase, not terrible. Btw, I got around to posting an article about Civil Asset Forfeiture. Give it a read if you have time, thanks! https://steemit.com/philosophy/@ryanjk8/an-officer-s-take-thoughts-on-libertarian-criminal-justice-and-asset-forfeiture
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