Author Topic: Poloniex withdraw issue cause as bad reputation  (Read 3516 times)

0 Members and 1 Guest are viewing this topic.

Offline mostar

  • Full Member
  • ***
  • Posts: 97
    • View Profile
Poloniex withdraw issue cause as bad reputation
« on: November 20, 2017, 08:53:16 am »
In bitshares state of the network 14th november2017 report:

Quote
Bitshares wallets at PoloniEX are in maintenance mode at the moment; Bitshares developers are in touch with PoloniEX to find out why this is the case and assist if required.

https://steemit.com/bitshares/@steempower/bitshares-state-of-the-network-14th-november-2017

Week pass and it still not solve.

What the status of this issue?

It cause lot of technical and marking  problems like:

bitCNY force settlement issue
https://bitsharestalk.org/index.php/topic,25293.0.html

Price feeding issue
https://bitsharestalk.org/index.php/topic,25323.0.html

Huge price gap between the most traded exchange and the rest.

May we need on going worker proposal for the bitshares developers that are assisting exhanges.

Offline Brekyrself

  • Hero Member
  • *****
  • Posts: 511
    • View Profile
Re: Poloniex withdraw issue cause as bad reputation
« Reply #1 on: November 20, 2017, 09:13:13 am »
https://steemit.com/bitshares/[member=73]bitshares[/member].fdn/technical-issue-poloniex-with-bts

BitShares foundation has already tried contacting Poloniex, it's up to Poloniex to accept the assistance.

Offline abit

  • Committee member
  • Hero Member
  • *
  • Posts: 4539
    • View Profile
    • Abit's Hive Blog
  • BitShares: abit
  • GitHub: abitmore
Re: Poloniex withdraw issue cause as bad reputation
« Reply #2 on: November 20, 2017, 09:13:43 am »
FYI
So, for protecting shareholders' interests, who will discuss with Poloniex?! Committee members or someone?

The 5% debate: Not going to be discusses by the spokesperson
The Poloniex issue: Going to be descissed by the spokesperson - BBF has reached out to poloniex, but hasn't heard back from them
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline JohnR

  • Committee member
  • Full Member
  • *
  • Posts: 96
    • View Profile
Re: Poloniex withdraw issue cause as bad reputation
« Reply #3 on: November 21, 2017, 01:01:58 am »
This Poloniex wallet issue is another example of why we need to promote the DEX.  But it's always going to be an uphill battle because others always have the newest hottest tokens.  While on BTS we seem to only have Open Ledger issuing assets with any serious liquidity.

Offline lakerta06

Re: Poloniex withdraw issue cause as bad reputation
« Reply #4 on: November 21, 2017, 11:02:41 am »
"Poloniex wallet issue" is bullshit in my opinion. There is a near 3 cent price difference now, with respect to other exchanges. I would not be surprised if it turns out that they buying bts themselves at this supressed price. They would be effectively buying the competitor.

Offline Dinko

  • Jr. Member
  • **
  • Posts: 37
  • Strive for greatness
    • View Profile
  • BitShares: dinko369
Re: Poloniex withdraw issue cause as bad reputation
« Reply #5 on: November 22, 2017, 06:31:19 am »
do you think its good idea to buy cheap BTS in Polo now and withdraw when the ''issue'' is fixed? Is somebody doing that from here?
“The most unprofitable item ever manufactured is an excuse.”

Offline inarizushi

  • Sr. Member
  • ****
  • Posts: 316
    • View Profile
Re: Poloniex withdraw issue cause as bad reputation
« Reply #6 on: November 22, 2017, 10:37:42 am »
do you think its good idea to buy cheap BTS in Polo now and withdraw when the ''issue'' is fixed? Is somebody doing that from here?
I still buy BTS in polo yes. The blockchain is up, they still have the funds. They controlled it not so long ago, so I guess it will come back to normal at some point... but it's risky of course. Poloniex already did that once, and answered no questions if I remember correctly.

Shame on me to still use this exchange. But their huge advantage is the lending feature, earning huge interests while still holding your BTS is irresistible to me :(
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline doyoubit

  • Jr. Member
  • **
  • Posts: 47
    • View Profile
Re: Poloniex withdraw issue cause as bad reputation
« Reply #7 on: November 22, 2017, 08:28:48 pm »
do you think its good idea to buy cheap BTS in Polo now and withdraw when the ''issue'' is fixed? Is somebody doing that from here?
I still buy BTS in polo yes. The blockchain is up, they still have the funds. They controlled it not so long ago, so I guess it will come back to normal at some point... but it's risky of course. Poloniex already did that once, and answered no questions if I remember correctly.

Shame on me to still use this exchange. But their huge advantage is the lending feature, earning huge interests while still holding your BTS is irresistible to me :(

How much interest are you receiving?

DEX offers the same feature by shorting HERO with BTS and pays 5% and helps drive the price of BTS up at the same time.

Offline inarizushi

  • Sr. Member
  • ****
  • Posts: 316
    • View Profile
Re: Poloniex withdraw issue cause as bad reputation
« Reply #8 on: November 22, 2017, 09:33:57 pm »
do you think its good idea to buy cheap BTS in Polo now and withdraw when the ''issue'' is fixed? Is somebody doing that from here?
I still buy BTS in polo yes. The blockchain is up, they still have the funds. They controlled it not so long ago, so I guess it will come back to normal at some point... but it's risky of course. Poloniex already did that once, and answered no questions if I remember correctly.

Shame on me to still use this exchange. But their huge advantage is the lending feature, earning huge interests while still holding your BTS is irresistible to me :(

How much interest are you receiving?

DEX offers the same feature by shorting HERO with BTS and pays 5% and helps drive the price of BTS up at the same time.
Ahah no you get 5% per year on your HERO if you convert your BTS to HERO, but you're not holding BTS anymore, you're holding HERO, and 5% per year is nothing in cryptoworld. The interest rates you can see in poloniex lending tab are daily rates. Taking compounding (and the polo 15% tax) into account, a 0.1% per day rate translate into 37% interest per year. And currently I have some active loans giving 1% interest per day (these very high rates never last very long, but it is still a guaranteed win). That translates in very substantial gains while still holding BTS, the only risk being poloniex losing the funds... which is a very active risk right now. Implementing a lending feature paying interests for all kinds of margin trading in the BitShares DEX would be awesome and was planned for initially, but it requires a lot of liquidity in the markets to be viable.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline hardinero007

  • Newbie
  • *
  • Posts: 6
    • View Profile
Re: Poloniex withdraw issue cause as bad reputation
« Reply #9 on: December 04, 2017, 05:46:28 pm »
hi sir, where do you lend your bts at 1% daily?