Poloniex after 6 months shows no remorse nor guilt, Justin Sun?

gentlemand

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Quote from: malevolent on December 18, 2019, 06:40:44 PM

I think they just want to leave the cryptocurrency business altogether. Regulation are getting harsher and harsher, first in the US, but internationally too, with all the FATF nonsense, and lately in the EU with the AMLD5.

But the people who do stick it out will lord over the markets in an unassailable manner. It's their lack of vision that I find most bizarre. That's what VCs should be all about. That's why they exist.

malevolent

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Quote from: countryfree on December 18, 2019, 05:41:07 PM

Yes, I can't understand what's Circle has been doing.
Those guys are the worst investors I know.

I think they just want to leave the cryptocurrency business altogether. Regulations are getting harsher and harsher, first in the US, but internationally too, with all the FATF nonsense, and lately in the EU with the AMLD5.

gentlemand

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Quote from: countryfree on December 18, 2019, 05:41:07 PM

Yes, I can't understand what's Circle has been doing.
Those guys are the worst investors I know.

Once upon a time I had a few meetings with TV companies regarding scriptwriting. They told me that if I got one thing made that would earn me a five year window where it didn't really matter what shit I came out with. Having one thing made was enough to separate me from the contemptible hordes until I categorically proved I was absolutely goddamn useless and that was a fluke.

I get the same feeling with VC land but the time scales are much more stretched out. It seems you can burn untold billions for decades and no one will show you the door because whatever tiny flicker of early promise you demonstrated was enough to get you through the door.

In Circle's case I'm struggling to think what they've got left that might end up hitting the jackpot. I guess it's USDC so that'll be next to go. Then they'll auction their intellectual rights on here and it'll sell for 0.0000001 BSV.

countryfree

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Quote from: gentlemand on December 17, 2019, 04:47:10 PM

Circle have just gotten rid of their OTC service and it's been acquired by Kraken. I would've thought it was the only thing they've ever actually made money with.

https://blog.kraken.com/post/3355/kraken-otc-acquires-circle-trade/

Looks like good times are ahead. They're going to miss the boat doubly this time.

Yes, I can't understand what's Circle has been doing.
Those guys are the worst investors I know.

figmentofmyass

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Quote from: gentlemand on December 17, 2019, 04:47:10 PM

Circle have just gotten rid of their OTC service and it's been acquired by Kraken. I would've thought it was the only thing they've ever actually made money with.

https://blog.kraken.com/post/3355/kraken-otc-acquires-circle-trade/

Looks like good times are ahead. They're going to miss the boat doubly this time.

i hope so. this could be a contrarian signal similar to their exit from the bitcoin exchange sector in 2016, right before the last bubble.

with circle exiting the market, the november difficulty drop being the biggest since december 2018, and everybody and their grandma predicting $3k-$5ks, the contrarian in me is getting bullish!

gentlemand

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Circle have just gotten rid of their OTC service and it's been acquired by Kraken. I would've thought it was the only thing they've ever actually made money with.

https://blog.kraken.com/post/3355/kraken-otc-acquires-circle-trade/

Looks like good times are ahead. They're going to miss the boat doubly this time.

countryfree

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Quote from: figmentofmyass on December 13, 2019, 03:57:35 PM

Quote from: gentlemand on December 13, 2019, 02:57:55 PM

Quote from: squatter on December 13, 2019, 02:52:19 PM

You don't need to dig very far to see that Poloniex is obviously being used to prop up TRX.

Don't you need a decent exchange to do that? Give it a few more months and it'll be less than nowhere.

poloniex isn't that dead. remember, they are one of the only 10 "real volume" exchanges, according to bitwise. https://twitter.com/BitwiseInvest/status/1109114665240616962

among those 10 exchanges, they have the second biggest BTC/USDT market after binance. and their BTC/USDC market is actually marginally bigger than binance.

it's a shell of its former self in terms of total market share, but it's still one of the top exchanges. even after dumping USA traders they are still doing as much volume as bitstamp.

This is why I keep on writing about them. I just can't believe there are still plenty of people using that exchange. People are nuts or just ignorant. Maybe both.

malevolent

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I wonder how much Justin Sun paid for Bittrex. It's even more interesting considering he had trouble finding money to pay for Bittorrent (the last installment at least).

Patatas

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Basically, the original management is being shredded into pieces and taken over by the scammers. They're still one of the best exchanges out there but after the entire Justin scam and bad news around, I stopped using them. I'd say go to a lawyer but it is too late for that. It's funny how these exchanges steal money and continue to operate normally.

figmentofmyass

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Quote from: gentlemand on December 13, 2019, 02:57:55 PM

Quote from: squatter on December 13, 2019, 02:52:19 PM

You don't need to dig very far to see that Poloniex is obviously being used to prop up TRX.

Don't you need a decent exchange to do that? Give it a few more months and it'll be less than nowhere.

poloniex isn't that dead. remember, they are one of the only 10 "real volume" exchanges, according to bitwise. https://twitter.com/BitwiseInvest/status/1109114665240616962

among those 10 exchanges, they have the second biggest BTC/USDT market after binance. and their BTC/USDC market is actually marginally bigger than binance.

it's a shell of its former self in terms of total market share, but it's still one of the top exchanges. even after dumping USA traders they are still doing as much volume as bitstamp.

gentlemand

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Quote from: squatter on December 13, 2019, 02:52:19 PM

You don't need to dig very far to see that Poloniex is obviously being used to prop up TRX.

Don't you need a decent exchange to do that? Give it a few more months and it'll be less than nowhere.

It's also a double stain on Circle's already laughable rep. Spend hundreds of millions, run it down, sell it to a lying prick who'll do whatever he wants with it. They have a teensy bit of duty towards the thousands of customers who may be hanging on but that appears to not have crossed their mind for a second.

squatter

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STOP SNITCHIN'

Quote from: gentlemand on December 12, 2019, 08:25:04 PM

I thought Mr. Sun denied all involvement in its sale at the time. Looks like that was a lie which is nicely consistent with his MO.

The recent stuff around Digibyte signals that they're going to head further into questionable behaviour.

As if exiting the US market and moving to the Seychelles didn't make that clear. Tongue

I hadn't heard about the Digibyte scandal. It comes off very unprofessional to say the least, and confirms my suspicions that Sun is far more intimately involved in Poloniex's management than he lets on. You don't need to dig very far to see that Poloniex is obviously being used to prop up TRX.

pooya87

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it is a downward spiral for this exchange that were surprisingly number one at some point. as it has been losing popularity and volume and as the result revenue, they don't have any means of paying anything to their users that got screwed over by their platform. Poloniex has been past their expiration date for a long time now.

Quote from: bitmover on December 11, 2019, 07:27:14 PM

Just moving it to bittrex.

from one scam exchange to another Grin

gentlemand

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I thought Mr. Sun denied all involvement in its sale at the time. Looks like that was a lie which is nicely consistent with his MO.

The recent stuff around Digibyte signals that they're going to head further into questionable behaviour. I wonder how many hundreds of millions it will have burnt by the time it finally dies.

countryfree

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Quote from: squatter on December 11, 2019, 06:55:17 PM

Quote from: countryfree on December 11, 2019, 04:32:37 PM

Quote from: squatter on December 10, 2019, 06:13:48 PM

I missed the subsequent headline: Despite Denials, Tron Founder Confirms Investment in Poloniex Crypto Exchange

He's obviously trying to distance himself from their managerial decisions. He tweeted this a few days ago:

Quote

Poloniex's decisions are made by the team independently. As a humble investor of Poloniex, I respect and support their decision.

It doesn't sound like appealing to him will go very far.

I'm quite surprised with this.
Because, if it's no longer Circle, nor Justin Sun, who is running Poloniex?

Now, from what I've read about Justin Sun, he's far from being a humble investor...

Circle is out of the picture entirely. Justin Sun's "Asian investment group" is running Poloniex now. All former obligations -- like the outstanding debt to bitcoin lenders -- falls on Polo Digital Assets, the Seychelles company. Although I don't think they actually consider it a debt or itemize it on their balance sheet that way. They've already written it off, I'm sure.

Justin Sun is probably not being forthright -- same as when he initially denied involvement. For all we know, he is the majority shareholder. We have no idea what the shareholder stakes in the new company really are.

Hmm... Strange.
I don't quite understand, except that gives another reason to avoid Poloniex.
If the new owner(s) is (are) straightforward, especially after what happened, they should reveal themselves, publishing their bios, with pics and Instagram accounts.
If they're hiding, and The Seychelles are well known for this, it will be easier than ever to steal money again from their customers.

eddie13

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So long polo..
I have seen so many once great exchanges like this go.. It's sad..

I guess I'd better change the address on my profile page now, which is a polo deposit addy to one of my accounts, and has been there for years...
I'll let em keep my .009 BTM in there..

bitmover

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Quote from: countryfree on December 06, 2019, 05:43:13 PM

I'll remember June 6th. Exactly 6 months ago.

That day, Poloniex stole 1,800 BTC from its customers, and I was one of them.
We got about a tenth back, and then nothing.

The company acknowledged it did wrong, and promised we would all get all our money back, but we're still waiting

Thanks for posting this. I have a few bucks of GRIN in my poloniex account. I thought it was a OK exchange, and I am too lazy to discover how to make a proper grin wallet. Just moving it to bittrex.

Quote from: squatter on December 11, 2019, 06:55:17 PM

Circle is out of the picture entirely. Justin Sun's "Asian investment group" is running Poloniex now. All former obligations -- like the outstanding debt to bitcoin lenders -- falls on Polo Digital Assets, the Seychelles company. Although I don't think they actually consider it a debt or itemize it on their balance sheet that way. They've already written it off, I'm sure.

Justin Sun is probably not being forthright -- same as when he initially denied involvement. For all we know, he is the majority shareholder. We have no idea what the shareholder stakes in the new company really are.

Well, Circle always gave me the impression poloniex was at least a bit reliable. Sad to discover that it is not.

squatter

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STOP SNITCHIN'

Quote from: countryfree on December 11, 2019, 04:32:37 PM

Quote from: squatter on December 10, 2019, 06:13:48 PM

I missed the subsequent headline: Despite Denials, Tron Founder Confirms Investment in Poloniex Crypto Exchange

He's obviously trying to distance himself from their managerial decisions. He tweeted this a few days ago:

Quote

Poloniex's decisions are made by the team independently. As a humble investor of Poloniex, I respect and support their decision.

It doesn't sound like appealing to him will go very far.

I'm quite surprised with this.
Because, if it's no longer Circle, nor Justin Sun, who is running Poloniex?

Now, from what I've read about Justin Sun, he's far from being a humble investor...

Circle is out of the picture entirely. Justin Sun's "Asian investment group" is running Poloniex now. All former obligations -- like the outstanding debt to bitcoin lenders -- falls on Polo Digital Assets, the Seychelles company. Although I don't think they actually consider it a debt or itemize it on their balance sheet that way. They've already written it off, I'm sure.

Justin Sun is probably not being forthright -- same as when he initially denied involvement. For all we know, he is the majority shareholder. We have no idea what the shareholder stakes in the new company really are.

Twinkledoe

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Quote from: countryfree on December 11, 2019, 04:32:37 PM

Quote from: squatter on December 10, 2019, 06:13:48 PM

I missed the subsequent headline: Despite Denials, Tron Founder Confirms Investment in Poloniex Crypto Exchange

He's obviously trying to distance himself from their managerial decisions. He tweeted this a few days ago:

Quote

Poloniex's decisions are made by the team independently. As a humble investor of Poloniex, I respect and support their decision.

It doesn't sound like appealing to him will go very far.

I'm quite surprised with this.
Because, if it's no longer Circle, nor Justin Sun, who is running Poloniex?

Now, from what I've read about Justin Sun, he's far from being a humble investor...

Really great decision for me to withdraw my bitcoin from that exchange a long time ago. Didn't expect that this scenario will happen in Polo. Never had any problem with them before. But when they changed hands, so many complaints have risen. I hope they will not be in the verge of extinction here.
We don't know for sure who is really managing now Polo. But here is the latest article regarding Polo -

https://bitcoinist.com/poloniex-wallets-gutted-after-circle-acquisition/

countryfree

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Your country may be your worst enemy

Quote from: squatter on December 10, 2019, 06:13:48 PM

I missed the subsequent headline: Despite Denials, Tron Founder Confirms Investment in Poloniex Crypto Exchange

He's obviously trying to distance himself from their managerial decisions. He tweeted this a few days ago:

Quote

Poloniex's decisions are made by the team independently. As a humble investor of Poloniex, I respect and support their decision.

It doesn't sound like appealing to him will go very far.

I'm quite surprised with this.
Because, if it's no longer Circle, nor Justin Sun, who is running Poloniex?

Now, from what I've read about Justin Sun, he's far from being a humble investor...

Topic: Poloniex after 6 months shows no remorse nor guilt, Justin Sun? (Read 299 times)