RE: Poloniex is a Ghost Whale on steemit!

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Poloniex is a Ghost Whale on steemit!

in steemit •  8 years ago  (edited)

It seems odd to have an exchange in a user account. I am new to this steemit thing, and it strikes me as wierd to have a user account act as an exchange that gives the account STEEM power. This account
could cash out right now and take away a half million dollars. Seems odd to someone who does not understand it ya know?

Thanks for posting. Appreciate your comment.

#thedoglady

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  ·  8 years ago (edited)

all centralized exchanges can cash out and take you money !!!
actually it happens very often ... and then they just say...
"Sorry we got hacked!!!"

Thanks. I appreciate the insight.

An exchange has to have a Steem account in order to allow you to deposit and withdraw steem from them. Currently there are 3 exchange accounts that I know of: poloniex, bittrex, and openledger.

Interesting and thank you for clarifying that. I did see all three of these using the poloniex account to transfer money. hmm.

What you're seeing in that case is different people moving funds in and out of their exchange accounts. For example, when you see several transfers from bittrex to poloniex, this is not one person doing the transfer. It's different bittrex account holders moving their funds.