POLONIEX now KYC compliant

[karnal]

One of the guys confirmed with the email provider - poloniex never sent the outbound email to confirm disabling email verification when 2fa is active.

That confirms it, though it was already obvious that "smtp problems on the receivers end" was bs, since the registration confirmation email came fine, just some hours before.


Either they are deliberately withholding sending these emails (possibly to free email accounts only), or there is some sort of manual verification going on.
Whatever it is, it's not "smtp issues".

[Ander]

WARNING: Have seen several people on IRC confirm that their new accounts are not receiving the email necessary to confirm disabling withdrawal notification by email.

The facts: There is a newspost from May 19 that claims they are having issues with "sending withdrawal emails to some ISPs"

The speculation: They are enticing people to transact under the $2000/day limit without factual verification, only to fsck them over when it's time to withdraw and the email never arrives. Presumably at this point Poloniex would hold your funds until further verification can be done.



Their tech support says it's "a problem with the receiver ISP". However, the emails to register the account arrived minutes earlier, no problem.
That does not look like a smtp problem, at all.

I withdrew everything I had in polo on the 19th.  The email was delayed for about an hour but came eventually. 

Now I believe you have to provide personal info before you can withdraw.

[karnal]

WARNING: Have seen several people on IRC confirm that their new accounts are not receiving the email necessary to confirm disabling withdrawal notification by email.

The facts: There is a newspost from May 19 that claims they are having issues with "sending withdrawal emails to some ISPs"

The speculation: They are enticing people to transact under the $2000/day limit without factual verification, only to fsck them over when it's time to withdraw and the email never arrives. Presumably at this point Poloniex would hold your funds until further verification can be done.



Their tech support says it's "a problem with the receiver ISP". However, the emails to register the account arrived minutes earlier, no problem.
That does not look like a smtp problem, at all.

[speedy]

Cant wait till we can do p2p lending on the blockchain - ~zero fees and and zero intrusive compliance.

[Ander]

Them taking 15% of your margin interest you get from loaning out is exactly the same as bitfinex.  It reduces your interest rate slightly, but you still get a pretty good rate.  IF you trust the exchange, that is, and youre willing to give info.

[starspirit]

Sure, I can loan to you at 90% interest, and you can choose not to use my (totally legit!) service.

Still, would it not be greed on my part?

Yeah you're right. It would be stupid greed of any business to price its product out of the market. But the market in the end will determine whether Poloniex's pricing is reasonable, and I only note Bitfinex for the same cut have over a $25m book of lending.

[Tuck Fheman]

It's not that bad though, first level that allows you to withdraw up to $2000 worth of crypto daily is just providing a first name, last name and country without any "real" verification.

I'm curious of the laws concerning a user providing false information, even for the first level.

If it's obviously false information, say "Tuck Fheman" for instance, Poloniex could easily say, "we're locking your account until you provide us with further information confirming your first/last name and location", and they never have to involve any legal authorities, and get to keep the accounts funds.

Or, let's say they do contact a legal authority and that agency determines there is no such person as "Tuck Fheman" and now ... what?

[Frodo]

Well, that sucks.

I don't have funds there, but does this say you can't get them out unless you fill in the KYC forms?

AFAIK yep

It's not that bad though, first level that allows you to withdraw up to $2000 worth of crypto daily is just providing a first name, last name and country without any "real" verification.

[fav]

Sure, I can loan to you at 90% interest, and you can choose not to use my (totally legit!) service.

Still, would it not be greed on my part?

good thing we will have something like this in bitshares soon. just without dumb fees

[karnal]

Sure, I can loan to you at 90% interest, and you can choose not to use my (totally legit!) service.

Still, would it not be greed on my part?

[starspirit]

Well, that sucks.

I don't have funds there, but does this say you can't get them out unless you fill in the KYC forms?

It is not that so much as it is not knowing any other non-fiat exchange with such a wide selection of coins.

When your loans are being used by margin traders, you are earning interest on them, which is paid to your lending account when a contract closes. (Poloniex takes a fee of 15% from the interest you earn, so be sure to consider that when you place your offers.) Your active contracts are listed under My Active Loans.

wow.... https://poloniex.com/support/aboutMarginTrading

Such greed. Wow.

Bitfinex charges the same.
It's not greed - its supply and demand. Poloniex is held to account by its users. They can choose to not pay the fee by not using the service.

[cass]

Well, that sucks.

I don't have funds there, but does this say you can't get them out unless you fill in the KYC forms?

AFAIK yep

[karnal]

Well, that sucks.

I don't have funds there, but does this say you can't get them out unless you fill in the KYC forms?

It is not that so much as it is not knowing any other non-fiat exchange with such a wide selection of coins [edit: where verification is not necessary].

When your loans are being used by margin traders, you are earning interest on them, which is paid to your lending account when a contract closes. (Poloniex takes a fee of 15% from the interest you earn, so be sure to consider that when you place your offers.) Your active contracts are listed under My Active Loans.

wow.... https://poloniex.com/support/aboutMarginTrading

Such greed. Wow.

[fav]

When your loans are being used by margin traders, you are earning interest on them, which is paid to your lending account when a contract closes. (Poloniex takes a fee of 15% from the interest you earn, so be sure to consider that when you place your offers.) Your active contracts are listed under My Active Loans.

wow.... https://poloniex.com/support/aboutMarginTrading

[xeroc]

Well, that sucks.

I don't have funds there, but does this say you can't get them out unless you fill in the KYC forms?