Careful guys - don't send any steem or SBD to poloniex. They stopped accounting users deposits about 2 days ago which means that if you send any SBD to poloniex, you won't see it on your exchange account.
You can see steemians reaction on https://steemd.com/@poloniex - people are sending memos asking where are their money.
You can also check https://steemit.com/hot/poloniex to see posts like this:
https://steemit.com/scam/@cryptopie/dear-diary-i-was-scammed-by-poloniex
It's not the first time poloniex has stopped accounting SBD deposits and withdrawals but it's the first time when it was accompanied by huge SBD price pump.
My speculation: they cut the SBD / Steem supply by stoping accounting deposits so users can not sell their assets. Then they pump the price and sell their own SBD / Steem to buyers that are not aware of the situation (the SBD peg to USD). Once they're sold out they resume the deposits and the price tanks. Maybe they are in cooperation with bittrex or maybe they just taking advantage of the situation.
Funny enough, while searching for the image for this post I found this topic:
https://warosu.org/biz/thread/1960633
Quote:
Buy loads of a coin
Out of the blue, disable deposits to the coin with no explanation
Haha! Supply shortage. Prices rise.
Sell loads of the coin, bring price back down.
Re-enable deposits for the coin.
Seems that more people are suspecting this kind of operations from poloniex.
In the meantime bittrex seems much safer option to sell Steem / SBD although I heard about problems with deposits there too - stay cautious and send first small amounts to see if it goes trough.
Please resteem this or write post about it on your own - people have to stop sending SBD to poloniex.
This is a clear example we need to stay away from any centralized exchanges platforms.
They manipulated the coin like crazy. it is a wait and see for how long SBD will go for that high.
Thanks for sharing
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There is definitely something fishy going on with STEEM Dollars over the past few weeks. The price should always be stable somewhere NEAR $1 and nowhere near the heights that it reached today. Unbelievable that I was able to trade around 1.5 SBD for over 9 STEEM today...
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Polo has always been doing this to Steem and SBD holders.
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I'm resteeming this because i sent Steem and sbd more than 12 hours ago and it still hasn't shown up on poloniex. Bittrex I tried later and it worked right away.
Now I have a bunch of nice sbd and Steem locked in poloniex when the price is high. That sucks
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Thanks! I was signing up with them this morning!
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Many people are currently trapped in this scam.
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I already waiting 28 hours and nothing ;/ true info !!!
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HitBTC is working great for steem (don't know about SBD). I could deposit and withdraw in less than 5 minutes
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UPDATE: it works perfectly for SBD as well.
TIP: if you want to convert small values of SBD to USD HITBTC, I sugguest you use somthing like DogeCoin as intermediary coin ;)
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been saying this for long now..."polionext"
been trading small amounts with bittrex no problems there
yes trade small if they start seeing big numbers they get greedy
the max i trade was 7.4 sbd, 3.7 sbd, 1.5 sbd and 0.98 sbd
respect tipu
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Poloniex ==> 1sbd=7.5 USD
Bittrex ==>1 sbd= 12 USD
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I was bit by this exact same tactic early this summer, May or June, when Ripple shot up. Bought some, decided I wanted out, and Polo went down until I could only get out at a loss, rather than the considerable profit I had seen in 20 minutes or so (I forget exactly, it was up 25% or more though).
Not doing business with Polo any longer.
Well, wasn't exactly the same tactic; you're discussing them turning off deposits rather than turning off the entire site. Same basic disgusting ugly source though (greed, to the point of overcoming fair dealing).
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Thanks for your helpful topics.
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The SBD $1 peg is a “floor peg” to prevent SBD from dropping too much below a $1, there is no mechanism in place to prevent the open market from driving SBD higher. Just an FYI
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There is - witness bias feature that can increase sbd supply.
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With inflationary consequences that could do more harm in the long run.Hence why it hasn’t been used and probably won’t be.
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Theres only 3.5 mln SBD around, every whale can manipulate the price as much as he want. But yeah, I understand that witnesses need to be cautious.
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Try using Kraken.com
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!originalworks
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The @OriginalWorks bot has determined this post by @tipu to be original material and upvoted(1.5%) it!
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Thanks for sharing this topic with us.
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