Topic: Do you trust Poloniex? - page 13. (Read 22372 times)

answer is both yes and no.
yes because:

1. service has been very stable for me for over a year (same as bter)
2. once i had a support issue, they responded very quickly and acted like pros.

no because:

u shouldn't trust anyone (except perhaps close family) 110%. same with banks imo.

If spoetnik can share some positive words on poloniex, it should be fine at the moment

Besides, Poloniex got hacked 2 years or so ago and I think they handled it quite well. Better than most would have done it.

I trust Poloniex but I wouldn't encourage keeping your coins in any exchange, just get in, trade and get out. I have traded there many times and never faced any problems what so ever. But your concerns are liable since your coins are stuck there for over 2-3 days.

Keep writing to support and tell them to tell you when can they release coins as you need them urgently.

I trust Poloniex, but as with every other exchange don't let leave any unnecessary funds on there, it's not a wallet.

I trust Poloniex with my coins. 

This was my first time using an exchange and I heard good things about polo so I thought I would give it a try. What you posted makes sense and this experience has given me insight to how exchanges run. It's true about starting out with good intentions but after having the chat with tf2honeybadger I can see how things can get out of hand easily for an exchange,my trust for them and other exchanges is less now then when I first started. That might change over time but who knows.

Plug: We need to get more coins to adapt ACCT that Qora and Burst have so trades can happen within clients with no need for third party.

The guy reading your support ticket may have limited powers and have to call someone (who he is waiting for)
I seen this like I said on another exchange and the same problem you mentioned it's not unusual on any of them really.
And don't forget we don't know publicly how they work technically and internally..
for example Mt. Gox ran a custom backend with Bitcoin so things were cut and dry / simple like we would have guessed.
And they are not going to tell you how it works behind the scenes either.. for security reasons for one thing.
Trust ? tough question I think, not black and white.
Many services have gone and started out with good intentions and later ripped us all off with BS excuses and lies and games etc.
So trust needs to be reassessed I think.

I trust Poloniex more than most.
I would watch for patterns I guess, such as if that problem is happening to a lot of guys frequently etc.

I trust Poloniex as well. I don't keep a ton of coin on it or any exchange but if I didn't trust them I would never have any coins on it.

I trust Poloniex so much, that beside my email i even gave them  my Name Surname and country i live in.

UPDATE:

I just finished a chat with tf2honeybadger on slack and has of right now Qora is unfrozen. I'm not going in to much detail but after being told by support for three days that they are working on it, tf2honeybadger was able to fix it in 5 mins. Here are the reasons why it took so long:

1. "Busoni normally handles Qora's wallet, not me. He's been really busy the past week or so with a major life event, so he's been AFK quite a bit. I'm trying to get him on now."

2. "but things have to be triaged. If there's an issue with the margin trading engine, that has to be handled before a wallet issue, for example."

My thoughts:

1. I understand real life is more important and needs to come first but there should be more then one person to be able to handle wallet problems and as well why was I told that it was being worked on when it wasn't?

2. If polo is short on support help then maybe they shouldn't be offering new services.

From the chat I had with tf2honeybadger on the above issues as well as other discussion's, I will be selling what coins I have on there when it is possible to do so and stop using their services for a while, this is just a personal choice so please don't read anything into it.

EDIT: Here was the cause for the frozen wallet:"yes, our systems will automatically freeze a currency if the balance does not match. The exchange balance is correct, but the total balance we get from the wallet is incorrect occasionally
so it trips the auditor "

I trust Poloniex the most out of any exchange personally.

I don't trust this or any other exchange but the things is we're stuck, there aren't many options out there, so you just have to follow the crowd but having been said that I have never faced any problems trading at Poloniex.

I think as long as they're communicating it's fine, I think something like this also happened when everyone started claiming and selling clams at Poloniex, so hopefully it's just a temporary issue and it will get resolved soon.

Here is the polo Qora wallet address  QPVknSmwDryB98Hh8xB7E6U75dGFYwNkJ4 and the last block they forged was 103332 @ 2015-06-01 17:00:41 utc yet their mod just said their wallet was down for maintenance.

Some new info I just found out:Poloniex team is actually registered in Qora slack so if they are having problems then polo can easily get help if they wanted to.

You cant trust any exchange, but I trust Poloniex the least out of all the alt exchanges.
Bittrex is my favorite place to trade alts along with bter who have proven to be legit time and time again.

I do not trust Poloniex. In fact I do not trust any exhange... I belive that all of the exhanges runs with negative ballance.... this is how they work (this is an example):

100 user deposit 1 BTC worth of coins: bank now have 100 BTC.
However in average will 20 user will redraw their coin at the same day, that leaves a net ballance of 80 BTC, these coins can be used by the owners to buy cars, sluts and booze.
As long as people keep depositing coins then will this work, and also the as long as the exhange grow then will there be more and more free coins, since more user are storing their coins there = more booze and sluts. When user is having delay, then is most likely because the coins are not there to be redrawn...... what can you do about it? Nothing but wait.... it is not safe to use exhanges.... the balance you see on your account is more like an "I owe you"... not a ballance.

I trust both Poloniex and Bitstamp for much the same reason: Both demonstrate credible professionalism and both have proven to be a force for good, rather than an opportunistic disaster waiting to happen. Both have been subject to hacking attacks and on each occasion have not only survived, but paid back any losses that occurred.


Any evidence of this? How does an exchange even become trollbox driven? If you're talking about the fact it has a trollbox, then how would that differ from BTC-e or Cryptsy - exchanges which you cite as being 'real exchanges' despite them being highly dubious affairs, either technically (Cryptsy) or professionally (BTC-e).

Anyone who has spent any significant amount of time in the Poloniex trollbox would know that it has a relatively high standard of dialogue and is actually very well moderated.

As for big organized pumps? What? Where is the evidence for this? Hype and FUD is an unfortunate symptom of cryptocurrencies which transcends and introsects the entire playground, twitter, BCT, trollboxes et al. There will always be more than one Fontas, or Wolong in the world, but in terms of 'big organized pump groups?' ... there is zero evidence of this, and certainly zero evidence even in conjecture of it having any exclusive connection with Poloniex in particular.


Ahh here we go. This is what you really wanted to say. A chance to do your anti-Monero thing.


The fact you qualify Cryptsy as a real exchange is extraordinarily risible, but in any event, it is perfectly clear where your motives lie.

Peace.

^ with 95% of Monero volume going through Poloniex, that's what you would say rangedriver.

I think the problems with Poloniex are:

1) It's trollbox driven, with big organized pumps pushed along through hype

2) They like to push coins that aren't traded anywhere else so that the price can be hyper-inflated for what it actually is, e.g. Maid and Monero both have 95% of their volume there.. Maid isn't even released yet but it has $7mil market cap on Polo, Monero is a clone of Bytecoin with zero development / troll devs but they manage to get $3 million marketcap for that currently on Poloniex, Stellar is another one that get's stupid-price pumped there but BTC38 sometimes has high STR vol too so I don't know how much STR price is from real demand.  So the trolls / hypsters can push these coins to ridiculous prices while the rest of the market won't touch them

I see Poloniex as the bridge between real exchanges (like cryptsy, bittrex, bitstamp, finex etc) and sh*tcoin exchanges like C-CEX - Poloniex is the best Trollbox-driven exchange and the worst 'real' exchange if it qualifies for that.

Be careful if you trade there, if you are buying because of what you read in the trollbox, make sure you check out what the volume / demand is on other exchanges (check 'markets' tab on CoinMarketCap coin pages) - if it doesn't add up, it's a troll price and you will likely be dumped on later.

As to trust, IDK, I trust them less than the big exchanges because a lot of noobs gets ripped off due to the troll-driven nature, and they support that.  So it's definately unethical, but as to doing another Moolah / Mintpal, IDK - just DONT KEEP COINS THERE YOU AREN'T TRADING

cheers