Poloniex To Delist 17 Altcoins In May Without Explanation

timerland

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Quote from: dothebeats on April 30, 2017, 03:30:55 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, 09:35:39 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, 09:34:38 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, 09:34:38 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, 09:34:38 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, 02:03:29 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, 01:11:57 PM

Quote from: Stedsm on April 19, 2017, 10:36:02 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, 01:34:51 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, 10:36:02 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.

asriloni

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Quote from: amaral1977 on April 27, 2017, 03:23:31 AM

Poloniex and other exchanges are a business. If the coins dont perform and have limited volume they might not worth the trouble to maintain them in the exchange.

It's fair to replace the coins without a good development with other coins that coin has a good development.

Some of the delisted coins have enough volume for a day trade. But the lack of the development has to be the main concern for the poloniex to take a decision for delisted them all.

ether19

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Obviously Poloniex is making some room to list new coins. I believe there are new ICOs and Dapp coins which have enormous potential to do well in future and it would make sense if they get listed in poloniex. Also some coins which are pretty much dead should be taken out. Although I cannot say most coins that poloniex decided to delist are not dead.

romancheg

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Quote from: asyakashi on April 27, 2017, 03:41:13 AM

Quote from: s31joemhar on April 19, 2017, 10:27:19 AM

Cryptocurrency exchange Poloniex has announced it is delisting a record 17 altcoins effective May 2.

BBR, BITS, C2, CURE, HZ, IOC, MYR, NOBL, NSR, QBK, QORA, QTL, RBY, SDC, UNITY, VOX, XMG

IS IT REAL ?

Competition in the poloniex market is so tight that the coin whose low trade volume lost a lot of demand. It is possible to maintain the quality of poloniex as exchanger with the largest volume. Hopefully, there will be a lot of new coins better. Huh

+ They have recently had problems with the exchange itself, I bet it is connected with Polo's performance. They just want to delete all those coins which generate low commission profits but still load the system and cause problems.

asyakashi

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Quote from: s31joemhar on April 19, 2017, 10:27:19 AM

Cryptocurrency exchange Poloniex has announced it is delisting a record 17 altcoins effective May 2.

BBR, BITS, C2, CURE, HZ, IOC, MYR, NOBL, NSR, QBK, QORA, QTL, RBY, SDC, UNITY, VOX, XMG

IS IT REAL ?

Competition in the poloniex market is so tight that the coin whose low trade volume lost a lot of demand. It is possible to maintain the quality of poloniex as exchanger with the largest volume. Hopefully, there will be a lot of new coins better. Huh

amaral1977

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Poloniex and other exchanges are a business. If the coins dont perform and have limited volume they might not worth the trouble to maintain them in the exchange.
If you dont want to dump the coins move them to another excahnge and keep trading.

goinmerry

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Quote from: TravelMug on April 26, 2017, 01:31:31 PM

I think both Polo and Dev should talk first before making any decision. Yes those coins have low or no volume trading at all. But for me to be fair with the dev and traders, Poloniex should at least inform them ahead of time and give a reason why they are removing the coins from their trading platform so that this could be avoided. Maybe dev is doing some enhancement on the coins or maybe traders or investors are willing to buy some in the future.

I think Poloniex is informing those coins devs that will be delisted ahead of time before the official announcement. If it's not maybe those devs are given period of time to make things goes the right way before the target date of delisting.

Poloniex doesn't want the way of other altcoin exchange that mixing those active and inactive coins. Most of the delisted coins are turning into dead one in most of the cases that's why it's good if they will clean up the mess to avoid new traders to deal with those coins.

TravelMug

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I think both Polo and Dev should talk first before making any decision. Yes those coins have low or no volume trading at all. But for me to be fair with the dev and traders, Poloniex should at least inform them ahead of time and give a reason why they are removing the coins from their trading platform so that this could be avoided. Maybe dev is doing some enhancement on the coins or maybe traders or investors are willing to buy some in the future.

JeffBrad12

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Quote from: housebtc on April 26, 2017, 04:51:12 AM

I think these coins have low trading volume, I think most of these project thinks once they get to Poloniex there is no need to do any developmental work, remove bugs in their code and release update. There are alot of good projects in the space queuing to get listed on Poloniex

Regarding the latest news from poloniex to add gnosis as soon as possible to be tradable on polo exchange and I can make a conclusion about all of the coins will be delisted by poloniex is a lack of the development by the dev.

It seems like there will be no more demand in the future.
Some of the new altcoins have been taking their demand.

I mean if a lot of the old coins supporters are migrating into another new.

housebtc

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I think these coins have low trading volume, I think most of these project thinks once they get to Poloniex there is no need to do any developmental work, remove bugs in their code and release update. There are alot of good projects in the space queuing to get listed on Poloniex

electronicash

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Quote from: onrise on April 22, 2017, 01:49:26 AM

Yes why not they will delist the altcoin which doe snot have any recognition in the market much. A very simple logic why altcoin is being created is for the benefit of owners. Only 2-3 altcoins are their which will be there in coming year rest you will see in coming time all getting delisted soon.

there had been a lot of exchanges already in the industry. why worry being delisted on just one exchange. polo may be huge but they still can survive so long as they don't give up. ICN isn't on polo but they are moving forward so are the rest. some aren't even listed on bittrex. sad to see those holders of these coins that are to be delisted sold their bags already.

Luigi21

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The best way to introduce new altcoins/shitcoins.

onrise

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Yes why not they will delist the altcoin which doe snot have any recognition in the market much. A very simple logic why altcoin is being created is for the benefit of owners. Only 2-3 altcoins are their which will be there in coming year rest you will see in coming time all getting delisted soon.

jakelyson

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They have been delisting non performing coins ever since. If there is a note that it will be delisted soon, then it is worth it to check if you have those coins and dump them. If you don't want to dump them, move them out and put it on your own wallet before the due date.

abayan

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Quote from: s31joemhar on April 19, 2017, 10:27:19 AM

Cryptocurrency exchange Poloniex has announced it is delisting a record 17 altcoins effective May 2.

BBR, BITS, C2, CURE, HZ, IOC, MYR, NOBL, NSR, QBK, QORA, QTL, RBY, SDC, UNITY, VOX, XMG

IS IT REAL ?

Yes it is real .
Thinking up to in delisting that crypto's is a possible low volume or in other term it will have no value to trade .Just like cex exchange delisting coins which is not actively traded in the market .It will e only hassle in the list and for the newbies to trades that crypto .That a good thing for some coins if they dont want to be delisted .They will make a move on it .

Immakillya

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These altcoins were great. But polo thinks there are many coins out there are more deserving than these coins. Most of coins that are going to be delisted are no improvement. Polo is choosing what alt can be profitable in the future. So keep calm. If you bought some of these coins. Just pull it out and take it to other exchange.

cpfreeplz

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I've seen this happen on every exchange ever. Why offer a coin that you aren't making money on? In the end they're a business and if they aren't making anything from offering these coins they'll offer ones that get them more ROI or give people less options so they focus on the bigger coin with higher volume. Don't worry about it, they were all just shitcoin clones anyways.

bamboylee

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Poloniex have done a very good job in cleaning their list of coins. And I trust they have good reasons in delisting those 17 coins. If you are holding those coins, I suggest you transfer them quickly on other exchange or dump them altogether.

coinplus

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Quote from: s31joemhar on April 19, 2017, 10:27:19 AM

Cryptocurrency exchange Poloniex has announced it is delisting a record 17 altcoins effective May 2.

It is an usual practice of most of the cryptocurrency exchanges to delist some of coins from their trading with the reason of low volume to zero volume (dead or inactive coins).

It must be right option for them because there will be no meaning of maintaining some coins's wallet which are not at all getting traded and hence they are not earning any commission out of listing those coin and maintaining their wallet up to date.

goinmerry

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Quote from: s31joemhar on April 19, 2017, 10:27:19 AM

Cryptocurrency exchange Poloniex has announced it is delisting a record 17 altcoins effective May 2.

BBR, BITS, C2, CURE, HZ, IOC, MYR, NOBL, NSR, QBK, QORA, QTL, RBY, SDC, UNITY, VOX, XMG

IS IT REAL ?

If it's an announcement then that is official. They are really delisting coins regularly.

I look at some coins and saw that low volumes have been established. On the other hand, expect that Poloniex will bump that announcement often as there are traders who still have balances in their respective wallets.

agustina2

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Quote from: s31joemhar on April 19, 2017, 10:27:19 AM

Cryptocurrency exchange Poloniex has announced it is delisting a record 17 altcoins effective May 2.

BBR, BITS, C2, CURE, HZ, IOC, MYR, NOBL, NSR, QBK, QORA, QTL, RBY, SDC, UNITY, VOX, XMG

IS IT REAL ?

In in such cases that a certain alt doesn't established a good volume for a given period of time then it's obviously will be delisted. That is a common thing in Poloniex that's why I preferred this site over others as they are sorting only those with good volumes.

Quote from: smallwhale on April 20, 2017, 05:52:18 AM

So what will happen to the token owners? Will they be able to sell their coins?
Or everyone will be left high and dry??

They can sold or transfer it to an altcoin exchanges where those coins are still listed. It's impossible that those coins are not listed in other exchanges as being listed in Poloniex is an advanced achievement by some of the alts.

Pearls Before Swine

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There is an explanation, as others have pointed out, even if polo isn't explicitly saying it. The coins are too shitty and too thinly traded for them to be listed. Most coins are going to end up suffering the same fate, so get used to it. These ugly bitches should have been aborted shortly after conception.

eternalgloom

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Noting to be shocked about here, it's definitely a good thing that they're removing these inactive coins.
What's the point of having hunderds of inactive altcoins if they don't even have decent amount of trading volume...

I wish that that waited a bit longer in general to add new altcoins tbh.

Iranus

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That's interesting. I guess it's reasonable for Poloniex to keep switching out altcoins that have low trading volume and aren't doing very well for newer ones. I like that Poloniex has a pretty smooth interface and it's not covered in hundreds of different coins like some exchanges are.

It must be hard for them to get the word to everyone though. If it's just one announcement and people don't get the message clearly enough, Poloniex will end up with thousands of coins that were practically stolen from users' accounts, unless they provide some kind of way to recover the coins after they get delisted.

Poloniex is covered in pump and dumps even with the more reputable coins. It's good to clear out the trash every once in a while.

Oilacris

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Not surprising anymore since exchanges do really do these things on which they do delist coin which do have low volume,no active trade histories not only poloniex do this thing but also on ccex since ive using both sites and i can say its just right to delist some coins so that there no many trash coins to be bought or being included on the list.This decision was just right and should be continue.Just list up only those coins have good volume.

Catmony

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Yes it is completely real, they will just delist them so you should sold all you have before they will remove them if you have some. You have to either sell them for bitcoin or you can request withdrawal to another exchange.

kolesozw

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Quote from: s31joemhar on April 19, 2017, 10:27:19 AM

Cryptocurrency exchange Poloniex has announced it is delisting a record 17 altcoins effective May 2.

BBR, BITS, C2, CURE, HZ, IOC, MYR, NOBL, NSR, QBK, QORA, QTL, RBY, SDC, UNITY, VOX, XMG

IS IT REAL ?

Yes, it's true. These coins doesn't have a lot of daily volume so it's cheaper just to delist them.
Still I need to sell some RBY in next days...

If you want to find alternative exchanges for these coins, Google : Coinname to BTC

fudster

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Some of them are valuable enough but if there is no volume to it, it better be just removed. Its so much harder to get listed on Polo and yet they were delisted. If they were on Bittrex there won't be anything to worry.

moviebuff777

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Quote from: s31joemhar on April 19, 2017, 10:27:19 AM

Cryptocurrency exchange Poloniex has announced it is delisting a record 17 altcoins effective May 2.

BBR, BITS, C2, CURE, HZ, IOC, MYR, NOBL, NSR, QBK, QORA, QTL, RBY, SDC, UNITY, VOX, XMG

IS IT REAL ?

They must not have much trading volume. I don't blame them for sticking with coins that have more demand. Sometimes new coins come on the market and start out with a lot of activity but then it loses demand and the price drops.

hello_good_sir

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Quote from: Stedsm on April 19, 2017, 10:36:02 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.

That is the same thing i was thinking about, when I heard that poloniex actually has done that.
Why wouldn't they? Look at the BTC volume on poloniex, it is the highest among the all cryptocurrency exchanges, that is happening for some reason.
They are a trusted company, pretty much they have no issues in working and in most important cases, like withdrawing the funds.
You can withdraw up to 2000$ every day without giving them your ID. Show me one more exchange which allows such a high limits daily without any kind of identification.

KuromaYoichi

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Quote from: smallwhale on April 20, 2017, 05:52:18 AM

So what will happen to the token owners? Will they be able to sell their coins?
Or everyone will be left high and dry??

They are still able to trade before the coin get delisted on may, but they also have to withdraw it before it get delisted. The fact that their coin is not on poloniex later is enough to drop the price so much. The dev can search for another exchange if they want, but to recover the price will be hard. If there's no exchange remaining for the coin, then they will have to trade it manually which is risky to do without escrow.

smallwhale

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So what will happen to the token owners? Will they be able to sell their coins?
Or everyone will be left high and dry??

PokerDiceMan

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reason altcoin delisted from poloniex about volume transaction
and without user community, or very low user
all exchanger still open feature delisted if volume transaction low

JeffBrad12

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Quote from: Stedsm on April 19, 2017, 10:36:02 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.

The possible thing is if the coins were not having the demand. I mean the new coins are robbing his demand caused by the more promising development on its project. It will necessarily true.
Some of the coins will have delisted by polo exchange is not have a lot of demands right now.
The users are migrating into the other coin which it has better development and the team.

Stedsm

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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.

s31joemhar

sr. member

Activity: 602

Merit: 258

Cryptocurrency exchange Poloniex has announced it is delisting a record 17 altcoins effective May 2.

BBR, BITS, C2, CURE, HZ, IOC, MYR, NOBL, NSR, QBK, QORA, QTL, RBY, SDC, UNITY, VOX, XMG

IS IT REAL ?

Topic: Poloniex To Delist 17 Altcoins In May Without Explanation (Read 2473 times)