Poloniex To Delist 17 Altcoins In May Without Explanation

timerland

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Quote from: dothebeats on April 30, 2017, 02:30:55 PM

These coins that are listed doesn't seem to be in demand to begin with, and it's just another of the company to actually pull off some resources they have spent to keep the market for these coins live. Also, exchanges have the right to delist a coin which they see unfit to be in their exchange because they are getting profits from trades that happen within their platform. If there is no demand, no profit, and you know the rest.

Exactly, there was no real demand on these coins, as far as I have observed.
I can proove that with one very important thing: after the poloniex have announced that they are going to de-list all these 17 altcoins, the price have simply broken.
People were panic selling, basically most of the volume on the poloniex was being dumped, or in a good path to be dumped.

It is kind of funny, because some people are saying that poloniex have cheated their customers: but you need to remember that they would cheat, if these coins would pretty much dissapear, without doing de-list from the polo side.

jorneyflair

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I think that nobody should be mad about poloniex delisting all these coins, In my opinion it is a very wise move from their side.
All these altcoins could have done, was to plant a seed of uncertainity at poloniex. It is because you cannot have a trusted cryptocurrency exchange, where you have an ability of trading with the assets that are probably going to expire sooner than in 3 next months.

Also, that is not any kind of a scam from their side. The volume has been lowered very significantly after the poloniex have left the markets: bear in mind that this particular exchange has the biggest part in bitcoin trading volume. That is a very important factor, which pretty much had a big influence on those alts.

dothebeats

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These coins that are listed doesn't seem to be in demand to begin with, and it's just another of the company to actually pull off some resources they have spent to keep the market for these coins live. Also, exchanges have the right to delist a coin which they see unfit to be in their exchange because they are getting profits from trades that happen within their platform. If there is no demand, no profit, and you know the rest.

abayan

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Quote from: Kemarit on April 30, 2017, 08:35:39 AM

For me, Poloniex is doing a harmful action to its users and the crypto currency enthusiast in general and showing traders and investors lack of respect. I can understand when a trading platform like Poloniex removes the stagnant volumes but when a project is still moving and some devs are working really hard then suddenly you found your coins delisted, then it really sucks. It just shows the Poloniex has no concern whatsoever with the altcoins, they are just upsetting their customers. At least they should have warned them instead, so that they would make effort to let their coins be active.

You're right in that point they must have contacted the dev or team and yet to delist some coins when the roadmap or projects still on going as you've said is not good .I think we need to know what are their reason of doing that although if it is not moving for a long time it maybe a reason for them to delist it .But to announce first that there will be a delisting of coins incase so the traders will be aware of changes in exchange site.

Kanine Awe

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I think panic drove a lot of these coins to drop. They are still listed elsewhere and Polo gave us plenty of time to move the coins. People reacted and it caused the prices to do the same.

Kemarit

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For me, Poloniex is doing a harmful action to its users and the crypto currency enthusiast in general and showing traders and investors lack of respect. I can understand when a trading platform like Poloniex removes the stagnant volumes but when a project is still moving and some devs are working really hard then suddenly you found your coins delisted, then it really sucks. It just shows the Poloniex has no concern whatsoever with the altcoins, they are just upsetting their customers. At least they should have warned them instead, so that they would make effort to let their coins be active.

Sled

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I think the main reason of poloniex for this list of coins that will be delisted is based on the volume and activeness of a coin. Poloniex will tried their best to maintain their site as a good altcoin exchange and they want to maintain the good altcoins as good as they can so their reputation will continue to grow. In my opinion, this is a good move for poloniex because it will help the traders to trade the legit coins and not the crap coins.

shinratensei_

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Quote from: victory1 on April 29, 2017, 08:34:38 AM

No reason is given for delisting.

They've reasons to delisting all of the coins to replace them with another good one such as gnosis, The listed of gnosis is a clue about the reason to delisting a lot of coins.

Quote from: victory1 on April 29, 2017, 08:34:38 AM

And the reason on why they list Gnosis is unknown as well.

Although, Gnosis looks very odd in my opinion but they are offering something fresh from their oven.
Innovation, distribution methods, And a lot of points need to be determined.

Quote from: victory1 on April 29, 2017, 08:34:38 AM

I guess is this what we get for an unregulated market ; No big brother is watching.

All of the cryptos are on gray area, No doubt the official parties will doubt it.

angaper

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It is not so bad to delist such few significant coins, this way we can focus our attention and efforts in the most valuable and promissory options in this altcoin market. Even I good prefer a wider reduction of altcoins. A maximum of twenty would be right for me.

peter0425

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Quote from: Mr on April 29, 2017, 01:03:29 PM

I do not like this action. It is totally terrible to everyone who is holding those coin. I feel shocked when they make this move. LOL I can not know why poloniex is so dirty. They can earn money from doing good things. Please polo, do not try to upset your customers

They can do whatever they want mate. Poloniex has given enough time for those who are still holding those coins that the are going to de-list. I think its fair enough. If they saw they those coins have no trading movement its better for them to discontinue it in their business point of view.

Mr

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I do not like this action. It is totally terrible to everyone who is holding those coin. I feel shocked when they make this move. LOL I can not know why poloniex is so dirty. They can earn money from doing good things. Please polo, do not try to upset your customers

aTriz

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Quote from: Sweetbtc on April 28, 2017, 12:11:57 PM

Quote from: Stedsm on April 19, 2017, 09:36:02 AM

They are running a reputed exchange and I don't see any reason to put such coins which don't have much volume, or being traded there consistently there. I know there are few coins which were too good but not necessary that we will always see them there as the space and usage it takes is useless unless there is some great volume and an actual need of putting them there.

Poloniex the biggest crypto exchange charges only 10k satoshi for btc withdraw and the btc will arrive within minutes. trading sites are taking advantage of the fees to sequeeze more money from users

That is extremely important thing that is being done among the trading websites, I hate it very much because it is simply unfair for user who wants to make his money multiplied.
You are the one who deposits the money, and sets them up in the risk. But they also need to increase the goddamn fee, and sometimes you cannot even change the size. It is a stupid solution for me, because I sometimes use services with 0 confirmations deposit. That means I do not really require high fee, even 0.00005 satoshi would be enough because I have the money instantly, and confirmations is something im not worried about.

Poloniex is so far the best exchange, daily limit without ID identification is really high and rates plus volume are also awesome too.

layoutph

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Poloniex is the largest crypto trading site interms of users. Inorder to provide us better service they need to delist 17 dead altcoins. I heard there will be a surprise coins in replacement to the coins to be delisted. I guess one from them is TIME, WINGS, WAVES.

victory1

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No reason is given for delisting.

And the reason on why they list Gnosis is unknown as well.

I guess is this what we get for an unregulated market ; No big brother is watching.

ethereumhunter

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Quote from: KuromaYoichi on April 28, 2017, 12:34:51 PM

Quote from: ?? on ??

I do not like this action. It is totaolly terrible to everyone who is holding those coin. I feel shocked when they make this move. LOL I can not know why poloniex is so dirty. They can earn money from doing good things. Please polo, do not try to upset your customers

They need the money from the fee to run and keep the maintenance of the site. There's a lot of good or potential coin that deserve the place more than those one which got delisted. You should blame the community who can't support the coin to keep it listed and it's not like it's the end of the world if some coin get delisted. They can climb back up if the community and dev care about it.

but i think its not good enough to make that decision to delisted the coins because all of the delisted coins is having good movements and i see the price is in the higher price and there are many of btc involve for trading to that coins. and i think its make all traders which is trade all of the coins is disappointed and i think some of them is getting loss.

KuromaYoichi

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Quote from: ?? on ??

I do not like this action. It is totaolly terrible to everyone who is holding those coin. I feel shocked when they make this move. LOL I can not know why poloniex is so dirty. They can earn money from doing good things. Please polo, do not try to upset your customers

They need the money from the fee to run and keep the maintenance of the site. There's a lot of good or potential coin that deserve the place more than those one which got delisted. You should blame the community who can't support the coin to keep it listed and it's not like it's the end of the world if some coin get delisted. They can climb back up if the community and dev care about it.

Sweetbtc

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Quote from: Stedsm on April 19, 2017, 09:36:02 AM

They are running a reputed exchange and I don't see any reason to put such coins which don't have much volume, or being traded there consistently there. I know there are few coins which were too good but not necessary that we will always see them there as the space and usage it takes is useless unless there is some great volume and an actual need of putting them there.

Poloniex the biggest crypto exchange charges only 10k satoshi for btc withdraw and the btc will arrive within minutes. trading sites are taking advantage of the fees to sequeeze more money from users

lx001

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earlier Poloniex was not so popular, and they were regularly adding shitcoins. now the exchange is well known, new coins are being added more rarely, everyone wants to get in there. they will delist even more coins, because they have to position themselves differently now

Monnt

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I believe delisting some of trading pairs from exchanges a general practice and almost every exchanges are already doing it. Why this poloniex's move alone getting this much attention ? I do see some cryptocurrency news magazines also covering this as a big issue.

There are a lot of reasons why an altcoin is getting delisted from exchanges. The most obvious one is low to zero trading volume. There will be no meaning of keeping some shitcoins whose dev are not active enough for solving issues.

TryAngle

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I guess poloniex feels like they can only support a certain number of coins at a time or they have some criteria to determine which ones customers use or trade the most.

Topic: Poloniex To Delist 17 Altcoins In May Without Explanation (Read 2498 times)