Polo is insolvent (spidey senses tell me so) - page 2.

mimictic

member

Activity: 67

Merit: 10

Quote from: stoniestfool on August 03, 2017, 05:09:20 AM

Quote from: JesusCryptos on August 03, 2017, 01:47:27 AM

Quote from: four3200 on August 03, 2017, 12:02:14 AM

Reason Why.

Polo is not playing with the BCH. Literally costing them $1Ms per day in fees.

I didn't understand this issue properly. Could you please explain better what it is happening to this regard? You mean fees that they don't earn or what? So why would they not play?

Most exchanges that support bitcoincash automatically gave there customers their coins if they were holding bitcoin on the exchange. Polo issued a no class action lawsuit change in their tos and keep all the customer's bitcoin cash. As polo has ownership of any coins you deposit until you withdraw them. So they made millions. Yet again stealing from customers.At the same time making a class action suit impossible. So every individual would need to pay substantial lawyer fees and would lose anyway.

you did have enought time to withdraw your bitcoin before split,didn`t you?

stoniestfool

full member

Activity: 234

Merit: 100

Quote from: JesusCryptos on August 03, 2017, 01:47:27 AM

Quote from: four3200 on August 03, 2017, 12:02:14 AM

Reason Why.

Polo is not playing with the BCH. Literally costing them $1Ms per day in fees.

I didn't understand this issue properly. Could you please explain better what it is happening to this regard? You mean fees that they don't earn or what? So why would they not play?

Most exchanges that support bitcoincash automatically gave there customers their coins if they were holding bitcoin on the exchange. Polo issued a no class action lawsuit change in their tos and keep all the customer's bitcoin cash. As polo has ownership of any coins you deposit until you withdraw them. So they made millions. Yet again stealing from customers.At the same time making a class action suit impossible. So every individual would need to pay substantial lawyer fees and would lose anyway.

JesusCryptos

full member

Activity: 714

Merit: 117

I have managed to log in today and I have also managed to withdraw most of my coins. Feeling a bit safer now. However a friend of mine has had some ETHs lost in limbo already for a few days...

mimictic

member

Activity: 67

Merit: 10

is someone here success log in to polo exchange?i try to log in twice and failed today

JesusCryptos

full member

Activity: 714

Merit: 117

Quote from: four3200 on August 03, 2017, 12:02:14 AM

Reason Why.

Polo is not playing with the BCH. Literally costing them $1Ms per day in fees.

I didn't understand this issue properly. Could you please explain better what it is happening to this regard? You mean fees that they don't earn or what? So why would they not play?

zuzuca

sr. member

Activity: 490

Merit: 250

2 major exchanges with issues in so little time... it makes me wonder Huh

JesusCryptos

full member

Activity: 714

Merit: 117

Well, if by chance they WERE insolvent I guess that now, by cashing out all the BCCs generated by the BTCs of their clients, they probably are NOT any more

stoniestfool

full member

Activity: 234

Merit: 100

Quote from: tokeweed on August 03, 2017, 01:04:58 AM

Quote from: four3200 on August 03, 2017, 12:02:14 AM

Reason Why.

Polo is not playing with the BCH. Literally costing them $1Ms per day in fees.
Also they froze the LTC wallets. Steemians always bitch about withdraws.
Loads of other wallets are 'in maintenance'.

The whitefish is a bit stinky!

Another reason is they might have deposited (your) BTC on Bittrex and Bitfinex to corner the market and make a killing.

I HAVE NO EVIDENCE ... but I have a strong opinion based on observation.

The poll lacks a 'Maybe' option.

Anyway all your reasons for thinking Polo is insolvent doesn't really justify your hypothesis. Exchanges like Bitstamp are also not having Bcash available for trading, so are they insolvent too?

Their wallets are in maintenance because their fixing a withdrawal bug that's been going on. Finally!

Quote

Another reason is they might have deposited (your) BTC on Bittrex and Bitfinex to corner the market and make a killing.

I HAVE NO EVIDENCE ... but I have a strong opinion based on observation.

That's stupid. If they really did, someone would have already noticed.

And no, how strong your opinion is would depend on the evidence. You have none.

They are holding millions if not billions of btc. They have the private keys and yes they received bch for all the bitcoin their users have deposited. That is how the fork worked. Whoever holds the private key can use the same key on a bch wallet to claim thier bch. Whrn a user deposits btc on polo it becomes polo legal property. The use is essential provided an iou.

stoniestfool

full member

Activity: 234

Merit: 100

Tons of people are complaining about deposits not being credited. They just today updated their tos so that a class action lawsuit will not be allowed. If you continue using polo and your funds come up missing, you better have enough money to fight them in court. Thier are already class action suits started against polo. This is clear proof polo can not be trusted. I Read everyday people losing thousands from varies reasons. I Deposited etc 4 weeks ago. Have written customer support every week and still have not received a response. When I was using polo I would constantly get errors when trying to purchased btc with usdt. Saying I did not have enough usdt despite the fact I did. Then after the price went up it would work flawlessly. During the ripple launch i was able to buy but and sell order just timed out.

tokeweed

legendary

Activity: 3976

Merit: 1421

Life, Love and Laughter...

Quote from: four3200 on August 03, 2017, 12:02:14 AM

Reason Why.

Polo is not playing with the BCH. Literally costing them $1Ms per day in fees.
Also they froze the LTC wallets. Steemians always bitch about withdraws.
Loads of other wallets are 'in maintenance'.

The whitefish is a bit stinky!

Another reason is they might have deposited (your) BTC on Bittrex and Bitfinex to corner the market and make a killing.

I HAVE NO EVIDENCE ... but I have a strong opinion based on observation.

The poll lacks a 'Maybe' option.

Anyway all your reasons for thinking Polo is insolvent doesn't really justify your hypothesis. Exchanges like Bitstamp are also not having Bcash available for trading, so are they insolvent too?

Their wallets are in maintenance because their fixing a withdrawal bug that's been going on. Finally!

Quote

Another reason is they might have deposited (your) BTC on Bittrex and Bitfinex to corner the market and make a killing.

I HAVE NO EVIDENCE ... but I have a strong opinion based on observation.

That's stupid. If they really did, someone would have already noticed.

And no, how strong your opinion is would depend on the evidence. You have none.

adhitthana

legendary

Activity: 1190

Merit: 1000

Quote from: four3200 on August 03, 2017, 12:02:14 AM

Reason Why.

Polo is not playing with the BCH. Literally costing them $1Ms per day in fees.
Also they froze the LTC wallets. Steemians always bitch about withdraws.
Loads of other wallets are 'in maintenance'.

The whitefish is a bit stinky!

Another reason is they might have deposited (your) BTC on Bittrex and Bitfinex to corner the market and make a killing.

I HAVE NO EVIDENCE ... but I have a strong opinion based on observation.

If they are losing so much money from not having BCH then they must be making an awful lot and not insolvent.
Most of their coins are in cold storage so unlikely to be missing.

If coins were moved it would be visible on the blockchains.

I withdrew about $25,000 of coins a few hours ago myself, so I don't see any problem apart from increasing pressure from the regulator, and continuing problems with enormous traffic on their site

shursight

hero member

Activity: 728

Merit: 500

All this mess with Polo is a FUD, i dont really think it is going to be a scam like btc-e.
In the twitter fanpage they said it is a maintenance problem, then that it was a DDoS attac Undecided

I hope it is not gonna be scam, because i have a good money on it!!
By the way, you can login and everything is good, only that it is slow

four3200

sr. member

Activity: 1246

Merit: 257

Reason Why.

Polo is not playing with the BCH. Literally costing them $1Ms per day in fees.
Also they froze the LTC wallets. Steemians always bitch about withdraws.
Loads of other wallets are 'in maintenance'.

The whitefish is a bit stinky!

Another reason is they might have deposited (your) BTC on Bittrex and Bitfinex to corner the market and make a killing.

I HAVE NO EVIDENCE ... but I have a strong opinion based on observation.

Topic: Polo is insolvent (spidey senses tell me so) - page 2. (Read 1224 times)