HAS POLONIEX BEEN MANIPULATING THE PRICE OF STEEM/SBD?
It's now 7 days since I made a deposit to @poloniex and they have not yet credited the money to my account on the exchange. I'm not the only one who's been waiting for this long. In fact, there are others who have been waiting for more than 3 weeks now! When I made a transfer to them, the price of STEEM was about 0.89 SBD at poloniex and in the internal market, it was about 1.05 SBD. Right now, the price of STEEM in the internal market is about 1.61 SBD while at poloniex, it's about 1.28 SBD!
Can you imagine how much people have lost in the exchange because of this so-called "technical issue"? I myself wanted to sell SBD and buy STEEM. Everybody else did. But is it possible that @poloniex disabled it so they can trade with OUR money and meet the demand for STEEM while suppressing the price of SBD? I'm a developer myself and there is absolutely no way it's going to take someone THIS long to fix a technical issue with something that was working just fine the other day. All you have to do is pull back to a version that was working while you will be trying to figure out what you have recently done wrong.
I think the price difference between poloniex and the internal market at steemit is going to continue to shrink while the manipulators will be taking advantage of OUR money and from the so-called "technical issues". Once the gap becomes small enough, they will re-enable STEEM and SBD. I believe that by then, the price of SBD will be less than $1 USD.
Maybe they did this to "fix" the peg and kind of force everyone to power up 100% rather than 50/50 and holding on to SBD, while at the same time making thousands of dollars out of it or maybe millions! Either way, manipulation is manipulation and I don't like it and what's worse than manipulation is when someone you trusted locks your money in and refuses to let you touch it, because apparently, they are facing "technical issues". Who thought that the crypto market is immune to manipulation? I certainly didn't and so I'm not really surprised...
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UPVOTE, COMMENT, and/or RESTEEM!
FOLLOW ME ⇿ @msg768
No Polo!
Yeah, second that. It's sad these issues with polo have been ongoing for so long. The community's confidence in their ability to function as an exchange is down the toilet. There is so many issues and rumors running around it's best just not to use the exchange for the time being.
What super sucks is even if your coin gets out of Crypto-Purgatory, it'll still be locked up since they disabled the wallets.
I had Steem locked up for 2 weeks, but finally got it in my wallet... but still can't do anything with it.
It's really frustrating. My silver lining is that it's worth has gone up... so hopefully the SBD will have an upward trend once they get their site functioning again. At this point, it's like a safety deposit box.
When did your steem get credited to your wallet? Mine is still missing! :[
Nah I really like their chicken ('-')
BITTREX!
Exactly, I transfered all my funds to Bittrex ASAP. I do not trust Poloniex anymore.
Im happy that Polo fixed their "issues" with Bitshares pretty quick and moved my BTS to Bittrex.
Feels safer.
PoloNIET!
BitYes! (Bittrex)
Main reason why I always check multiple platforms before buying cryptos...Not only may the prices fluctuate, the fees are also always different.
Well done post You deserve for getting Upvote from me. I appreciate on it and like it so much . Waiting for your latest post. Keep your good work and steeming on. Let's walk to my blog. I have a latest post. Your upvote is high motivation for me. Almost all Steemians do their best on this site. Keep steeming and earning.
This comment has received a 0.08 % upvote from @booster thanks to: @hamzaoui.
This is quite possible actually. But honestly not only poloniex has sbd and steem disabled a lot of exchanges have it turned off due to the hf19.
Honestly I have no Idea but polo isn't doing anything about it.
Check my post on poloniex and see what the support told me once I opened
HF19 didn't change anything with how the transfers and withdrawals work. As with other exchanges having problem as well... What if they're all in it together? After all, it's a great opportunity that can produce thousands of dollars if not millions. Look at the internal market here. What's been going on is pretty ridiculous...
I have all but abandoned Poloniex in favor of Bittrex. If enough people leave, maybe that will result in some action on behalf of the exchange. They are capitalists through and through . . . hurt them where it counts: their pocketbook.
This is how I feel Poloniex looks at their users . . but they don't realize they are not a monopoly.
Capitalism is about providing the best service. Capitalism is great and is what leads you to better services like Bittrex :)
Thanks for sharing the information !
It is unacceptable. Release the hounds! There are tons of Steemians effected by this.
Polo doesn't need to manipulate prices, they make millions in fees each week. The reality is Polo is sorely understaffed and under-resourced for the massive increase of people they recently gained, and its showing in that wallets are constantly going down and it takes weeks for people to have support tickets resolved.
They are obviously having serious problems trying to expand to meet demand. Its just incompetence on their part, not malicious market manipulation.
Yeah, that's how I feel. And as someone with a customer service background, I cringe sooo hard for them because customer service is the face of the company and it feels like they have no face.
I hope they get things squared away ASAP; can't help but think of those who need the crypto they earn, for it to be locked up and inaccessible. It's a sucky situation all around.
"Boss, what about the scalability plan?" - "Leave it, will figure it out later, there is no time the investors are already waiting in the lobby". "But Boss" - "door closing..."
So why hasn't there been an announcement that they are hiring remote support staff familiar with cryptocurrency like we had from Coinbase in 2013? Or was there one that I missed?