I don't know if anyone else wrote about it, but it looks like for the last couple of hours, the so called "Goxxing" going on on Poloniex is over. Deposits and withdrawals are restored, or at leas that's what I understand from the fact that the notice was removed, as you can see from the screenshot below:
In layman terms that means:
- more volume can now flow through Poloniex
- more flexibility for users accustomed to using this specific channel
As for the price, there are only two directions in which it can go: up or down.
Later edit: as the price movement shows now, there's also a third possibility: annoyed by the last 3 weeks of "goxxing" users will start to massively dump their Steem or moving it to other exchanges.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
Poloniex has become really unreliable, I've been getting any coins I had left there off.
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Remarkable , the price of SBD on Poloniex and Bittrex equalized now. Jajaja , so predictable. Bah. Arbitrage opportunities waiting for 5 days to deposit on Poloniex. That's not the way of working.
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Exactly, any imbalance that exists b/w two exchanges is only due to technical issues like this one or when you can only buy a certain coin with the respective country's fiat currency, otherwise we get whale bots buying on one and selling on the other (considering both exchanges have a decent volume) , balancing it out in minutes
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Indeed , should be balanced out within minutes !
If Poloniex wants to bid 15-20 % higher than Bittrex.
Then they have to take the consequences.
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Yeah, there was a bit of arbitrage room to play with. But there's always the internal market. Wink, wink...
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Yes , you are right. But a bit room was 15-20 % here ! :-)
Dpos transactions within few minutes , so ...
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Good news but for how long are they going work is the big question.. i no longer trust poloniex, blocktrade is the best alternative.
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Has Poloniex made a statement about what they think was wrong? Having a wallet offline for nearly three weeks is serious stuff.
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no statement AFAIK.
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I think many users have lost their trust in poloniex anyway (including myself).
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Define trust.
Trust in existing or trust in smooth service?
Because if you have the first but not the latter you may still use it once a week for the 10SBD you get as minnow.
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I prefer blocktrades, quick and without the hassle.
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The price was lower the last days, not it is going down now.
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It stays in the same layer, 69-70k satoshis.
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I wish they would explain what caused the downtime. I'm not sure I want to use them later if they don't explain what happened now.
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I think it was some price manipulation over SBD. From somewhere. It's just speculation, obviously.
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@dragosroua
Thank you for this information. At this point in my Steemit life. I don't need any exchanges. Ha
But, I know I will later. Otherwise I would be spending my time doing something else.
I did open an account at Bittrex. I don't need it. But, I thought it would be better to get some understanding of exchanges when the time comes for me to do some trading and exchanging.
Do you have anymore suggestions, other than that you have already posted?
Thank you again
Francis
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Learn by doing :)
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I sent my SBD to Poloniex a few hours ago
thank you for sharing
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The test deposit at polo are not yet seen.
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what do you mean by test?
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I sent 10 sbd to polo a few days ago, but these are still not displayed in the wallet
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Did you write to the support? I also sent some Steem and it didn't appeared, so I wrote to them, gave them all the details, amount, sender, tx id and so on and, in one of the short window in which it worked, a couple of days ago, they processed the deposit. Maybe it's worth writing to them with all these details.
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Yes i think i will write to the support. Even though it was only 10 SBD
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I send 20SBD to them the day it worked. Didn't arrive, wrote ticket, was there a few days later (didn't watch so can't say how fast).
Too bad the SBD/Steem relation had changed much to the worse in that time.
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My Steem sent 2 weeks ago (before the problem) has not shown up in my wallet as well((
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EMC2 still frozen... :(
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Well, at last this exchange is working! And then I have a month as I do not want to deal with it.
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yay...I think
I don't use polo.
I've been to delaware...meh.
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My experience has been that if you transfer to @poloniex while the Steem deposits are disabled your Steem will get stuck in the @poloniex Steemit account (you can check their wallet). There is no auto-retry logic and the Poloniex Freshdesk tickets are backlogged so good luck getting your hard earned money.
Lesson learned for me, if you want to use Polo, use at your own risk. Honestly, to me the wallet issues seem like market manipulation but I don't have any proof for that. Just the feelings of a ripped off Steem user!
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polo have so many problems they are working to lazy
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