Poloniex discussion - page 2. | Bitcointalksearch.org

metalbean

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Quote from: Herbert2020 on January 29, 2017, 02:56:03 AM

whether or not an exchange has been hacked alone is not important. the details are important. for example btc-e the oldest exchange has been also hacked but it is working fine still.

you should see what the reason of the hack was, was it really a hack or were they scamming. and did they come back from the hack or did they disappear. for example Cryptsy was hacked (claimed it was a hack) but they disappeared. bitfinex was hacked but they are still active and i think they are paying their customers back.

and remember hacks happen everywhere. Yahoo was hacked and they found out a couple of months ago sending everyone Email that "we leaked all your personal information! change your password now!".

Fair enough, bitfinex is also on my radar so definitely want to know if they paid back to the user over time.

And why bittrex?

thebatletbet

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Quote from: metalbean on January 29, 2017, 12:32:37 AM

How did Poloniex become the biggest altcoin exchange despite being hacked?

Was it the services or? Asking to learn

after hack can incraese to big exchanger because
1 service, withdraw and deposit is very fast and low fee in withdraw only 10k satoshi
2 selective added altcoin, only good coin, good community can added to poloniex, so trading in poloniex is safe
3 big volume transaction can many trader to trading in poloniex

Herbert2020

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whether or not an exchange has been hacked alone is not important. the details are important. for example btc-e the oldest exchange has been also hacked but it is working fine still.

you should see what the reason of the hack was, was it really a hack or were they scamming. and did they come back from the hack or did they disappear. for example Cryptsy was hacked (claimed it was a hack) but they disappeared. bitfinex was hacked but they are still active and i think they are paying their customers back.

and remember hacks happen everywhere. Yahoo was hacked and they found out a couple of months ago sending everyone Email that "we leaked all your personal information! change your password now!".

metalbean

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Quote from: amacar2 on January 29, 2017, 02:46:11 AM

Quote from: metalbean on January 29, 2017, 12:32:37 AM

How did Poloniex become the biggest altcoin exchange despite being hacked?

I think you are talking about this hack on 2014 http://www.coindesk.com/poloniex-loses-12-3-bitcoins-latest-bitcoin-exchange-hack/

Actually they have only lost 12% of their total bitcoins which is not a big amount at those days. I think they been able to pay back after increasing fees on trading.

Quote

Poloniex plans to record the balances and to pay back customers using exchange fees as well as personal contributions. As a result, he indicated that all exchange fees would be temporarily raised to 1.5%, up from 0.2%.

But their support system, withdraw, deposit etc are really good after that hack till now and only good coins are listed there which are added without any listing fees, that's why poloniex is still no 1 altcoin trading platform.

Yea, that's the same article I got the info.

I try to avoid exchanges with hack incidents but poloniex seems to have grown stronger since those days.

Another argument some people say against it is that the founder had no technical groundings, we shouldn't discount an exchange based on that but just saying.

amacar2

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Quote from: metalbean on January 29, 2017, 12:32:37 AM

How did Poloniex become the biggest altcoin exchange despite being hacked?

I think you are talking about this hack on 2014 http://www.coindesk.com/poloniex-loses-12-3-bitcoins-latest-bitcoin-exchange-hack/

Actually they have only lost 12% of their total bitcoins which is not a big amount at those days. I think they been able to pay back after increasing fees on trading.

Quote

Poloniex plans to record the balances and to pay back customers using exchange fees as well as personal contributions. As a result, he indicated that all exchange fees would be temporarily raised to 1.5%, up from 0.2%.

But their support system, withdraw, deposit etc are really good after that hack till now and only good coins are listed there which are added without any listing fees, that's why poloniex is still no 1 altcoin trading platform.

Herbert2020

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when a service becomes big and popular, and then people see the volume is high there, they will choose that as their first choice of service before even looking at anything else. and this goes for majority of users.

and then it is the services they offer, they have all the relevant altcoins people want to trade and their website looks good, they have a very powerful API with so many options, and the volume is high meaning the orderbooks are filled and are not thin or empty like other places, also they offer lending (and i think margin trading but not sure since i am not using poloniex myself). and they have been around for a long time.

also i don't remember any hack, can you give me some references?

p.s. i myself prefer bittrex

metalbean

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How did Poloniex become the biggest altcoin exchange despite being hacked?

Was it the services or? Asking to learn

Topic: Poloniex discussion - page 2. (Read 2420 times)