Bitcoin Forum

http://fortune.com/2018/02/26/circle-cryptocurrency-trade-bitcoin/

Did anyone see this? pretty big news. I wonder if there is any correlation between these news and the latest big green candle in the Bitcoin price we've seen? I mean Circle is backed by Goldman Sachs... I would be pretty sure some insider trading has been going on before the deal was made public.

Anyone still has funds in Poloniex? I haven't logged in for a long time. They used to let you trade anonymously, I had some stupid fake name on there because back then they didn't care. I assume that now that GS is in you can forget about that.

Poloniex had a poor user experience, so I didn't make any trades on the exchange.
Poloniex seems to have been limited by the us government, so for a long time they did not add more new tokens. It was once the largest exchange in the world. It was a pity.

Yeah this is big and good news for crypto world and market turned to greem immediately maybe because this.
Very long time I don't logged in to Poloniex lol. They don't even listed a new coin but I have some GAME token hold their almost 6 months now.
Let's wait and see something with change with this top #1 exchange before.

I was expecting such news, but in terms of security I trust poloniex exchange but I don't use it now as it requires every user to be verified anymore. I hope that will be good for poloniex.

I even received a letter to the post from Poloniex. Notification of changes and cooperation with Circle. I hope these changes will be for the best!

Yeah, really fuck things that about their support. Seem like they never answer members tickets personally way almost answer like a bot.
In Jul my ETH withdrew stuck with Polo and I sent 5 email and got only 1 replied as by bot and after 3 weeks my problem solved.
That's terrible

Hopefully this can be a start of Poloniex returning to some of its former glory. Binance has completely overtaken the previous big 2 of bittrex and poloniex and they're now really quite inferior. New ownership could change this.

It's also good from the markets point of view as a bigger corporation is entering the cryptocurrency space. Expect to see more moves like this in the coming months and years.

I also like you have used Poloniex as a top choice. But it makes us have an inferior experience. The amount of Altcoin listed on the deal is meager, and a lot of Altcoins is anonymous and gives too few opportunities for us to make a profit. Especially Poloniex has a support service for the trader hugely I am disappointed about it.

Poloniex is a great platform of trading. I got today morning, this news about the bought of Circle of the big trading platform. I used too much poloniex, it's one of my favorite exchange sites, i hope that it continue like that even after this news.

It is possible that it is related to this news and more this news: Bitcoin Core 0.16.0 With ‘Full Support’ For SegWit Gets Official Release (https://cointelegraph.com/news/bitcoin-core-0160-with-full-support-for-segwit-gets-official-release)


There were already rumors about this business


months ago I removed all my funds from the poloniex I because I heard that they were bankrupt and because of this they could not hire more staff to answer the support tickets, at the time what came to my head when I heard about it is: this make a lot of sense , so I stopped using poloniex and I do not even remember the last time I used it. but if polo returns to be the old polo, I will consider the hypothesis of making trade in ploniex again

Yeah, I think it has something to do with the price going down in the last couple of days. Because there were no news around to put pressure on the price but suddenly it dramatically went from $11.7 to below $10K. And I'm sure that some big entities from behind had prior knowledge.


Nah, I totally gave up of Polo since March of last year. But if the news is true then there will be a lot of overhauling and just maybe I will try a few bitcoins and see how it goes.

I did not see until now, and nope no way I trusted them with funds after the slow times of last summer. Also don't think it was ever legal to use anon names on Poloniex website, maybe you just got away with one there. Regardless though, having one company absorbing another can't be a bad thing and you would hope they try improve customer relations moving forward. If they can do that, I don't see why Poloniex can't go back to a top 5 website.

If you can recall Circle initially had a Bitcoin wallet and the ability to buy and sell Bitcoins and later restructured their business model to support Mobile payments platform to chat with friends / contacts and to send and receive money, kind of like the present day Cash app but without Bitcoin. I guess they're attempting to get back into the cryptocurrency space and this time it looks like a smart move. Poloniex is an established cryptocurrency exchange. They could probably also bring in the abilty to buy cryptocurrencies with cash or bank transfers on the same platform. This means good news for Poloniex customers. I also feel Circle would win back a lot of their old customers who were happy about Circle's service as a wallet / Bitcoin exchange platform, but now on a well developed trading platform.

Yeah 0.16 being released may have been bullish too.. but I think big merchants accepting segwit payments are more bullish than that and it was already kinda priced in.

Will you be giving them your personal details? Im not sure about letting GS I own x amount of BTC...

I also have to accept some sort of agreement that I haven't accepted yet. I wonder if I should change my fake name to real name before accepting the agreement, since it lets me change the name it seems, before accepting it, and im not sure if when I sell an amount made on poloniex to buy a house for example, they may ask for my Poloniex account, and if they see I had a fake name I may have problems? who knows. Has anyone sold coins from a poloniex account using a fake name?

Good news, maybe now they can get their customer service fixed and actually provide support.

Polo was one of the worst exchanges out there in my opinion. Hopefully this changes now! But its kinda scary that GS buys its own trading platform ...

It’s one of the larger deals in the crypto-economy worth around 400million usd. Poloniex is the 18th largest cryptocurrency exchange by trade volume now it should increase its ranking by this JV.

I've stopped using Polo after they introduced a new set of insane terms and conditions last year (July/August 2017). The latest news has only strengthened my resolve not to use them again. I am not a fan boy of the likes of Goldman Sachs.

Very interesting, particularly considering Goldman Sachs was publicly bashing cryptocurrencies, stating that they are doomed to fail.

However, I do believe this might encourage other institutional investors to move some money into the system, it'll certainly lead to an increase in BTC price.

I’ve heard this and the only thing that is concerning to me is that one article links Circle to Goldman Sachs. They say that Circle is backed by Goldman Sachs, which means that a big bank is now in the cryptocurrency business. I don’t know if it’s a good idea for a big mainstream bank to have their hands in decentralized cryptocurrencies but I guess we’ll see what happens. I guess the positive is they may not fight it since they are invested in it.

Even with the teaming up with Circe, I still would not use that website to trade coins because they have high fees and their support sucks.

at the end of last year they started asking for Legacy account to get Verified
is this the reason why poloniex initiate "a major upgrade" of customer identification and verification systems?
would that be one of the requirements they have to do to make the acquistion/partnership to happen?

btw poloniex has released the official statement too
https://poloniex.com/press-releases/2018.02.26-Poloniex-joins-Circle/

Not the best exchange, I don't really like it. But it's good news for cryptocurrency world.
And I think that Poloneix was sold because it lost its popularity.

I would think that this is good for the crypto industry!!!

Good news, given there is no way goldman would let one of their portfolio companies buy a bitcoin exchange without goldman's prior approval.  I think this is good, goldman goes where the money is!

Given the history of Goldman Sachs, they will most likely use Polo as a vehicle to manipulate prices and to cause all kind of shenanigans in the market. The fiat they invested is most likely of little concern to them as they have access to an almost unlimited stream of fiat - the very stream of fiat that they are so hell-bent to defend at any cost. They are not stupid. They understand that you have to get in and break it down from the inside out.

i think thats good for poloniex as it was dieng it was top exchange but now its one of the worst and i think thats why they sell it they cant be on top anymore

I do not believe that Poloniex can provoke a candle in the value of bitcoin. This exchange has long enjoyed a bad reputation. Maybe that's the reason for the sale. People are always looking for a reason where she's not. The popularity of bitcoin will grow. Price responds to the game of whales. Now they buy coins and very soon the price will rise. This will be the end of April or early may. Wait for the price of $ 25,000. This happens even if Poloniex will be closed.

It's actually a good thing because Poloniex lost its magic to bittrex last year and since then, The exchange has been having declining volume and decrease in the amount of users. I'm hoping that the new management can help Poloniex get its lost glory back. Congrats to the guys at Circle.

People seem to have short memories these days.  Circle basically opened fire (https://bitcointalk.org/index.php?topic=1707958.msg17113949#msg17113949) on Bitcoin and its developers after their big PR show and dance to launch their service pretty much turned out to be a complete waste of time, effort and money.  They're clearly not in this because they care about Bitcoin.  Now they're buying an exchange because it's likely more lucrative than their first failed attempt?  No thanks.  I'll be steering clear of that.  Expect them to throw their toys out of the pram again if they lose money on this latest venture.  It's always someone else's fault with these parasitic leeches, who it seems had no idea what they were getting into last time.

Shame.  I used to like Polo.  They seemed like the "least bad" of all the exchanges.

This proofs that financial institutions will no longer fight cryptocurrencies, they can't beat them so they'll join them. That's the way opportunists think. Financial institutions will always look for ways to make money. On the other hand it would be more likely for Goldman Sachs to start their own exchange, instead of buying Poloniex.

its great new specially for me or for other regular traders circle have a team of professionals and they will make lot of improvements in poloniex 1st of all they will improve support system. poloniex will be more bigger exchange best wishes for circle

I saw the news earlier today in another source (I don't remember), but it was saying that Circle and Polo are now partners.
Just now knew that Circle bought Polo. I hope Polo will be back to form as like before with the power of new owners.

The good side of the news is that, at least, we know who is behind Poloniex. The bad is that I don't like these new owners. Obviously, they aren't anarchists who want to destroy the banking system... It could be good for BTC, though... Let's wait and see.

you and a lot of other people. :P

they instituted new KYC requirements starting january 1st---no more fake names. full KYC with government ID and selfie required. however, their policy does state that you can continue to withdraw at your old limits if you don't verify. you just can't deposit or trade.


the first generation of exchanges was mostly run by anonymous or fly-by-night people. lots of exit scammers. no licenses, no reputation to back them up. we've never known anything about poloniex except the possibly fake name "tristan d'agosta" and a virtual office mailing address.

we may not like goldman sachs, but i prefer them to anonymous owners who could disappear at any moment.

Yep, I got the news this afternoon. $400 million, not cheap. Let'see if they plan to improve the ghost support system as I remember users were complaining about it. You can almost be sure to see KYC verification if there isn't any already.

I expect this too, with the change of ownership and management hopefully their customer service will improve. I have withdrawn also all my funds and leaving only less than a hundred dollar just in case for arbitration or If I am in mode to trade with their platform. I welcome this good news. Finally.

It might be the reason, but there is no way to prove anything in this case, especially with how other exchanges have done the exact same thing. From there it's safe to say that it is more likely related to increased regulations.

At some point we'll see even the most rubbish exchanges do the same, so it's not that people on Hitbtc and Yobit are safe from all these measures. It's either abiding by the rules, or get your but whooped by authorities.

It's a great move for people using that exchange, but I don't know how much of a good move it is from Circle's side. You may agree or not agree, but Poloniex is a falling knife, and you know what people say about falling knifes......

the news would be great for crypto community as circle is backed by goldman sachs that means the huge whales are into the game and huge liquidity is in its way.

I hope this is good, I kind of miss Poloniex being cool, not sure how they fucked up. I guess it went all downhill when they removed the trollbox.

They also stopped adding coins, probably because of the SEC, maybe that will change now.

for Circle $400M is not much they are earning a lot more and entering the exchange market it will boost their income more this is good news for Poloniex users because the Circle is big influence for Cryptos trade and it may help it going back to the top alongside Binance and Bittrex it's not going to be easy to get the users in time but good publicity and media will help it get back out there fast off course they need to bring something to the table to make it more appealing to use Poloniex over other exchange platforms.

One of the most interesting things this raises is tether. Circle must be planning on flushing it away ASAP but the fact they'd buy somewhere currently balls deep in it implies some deeper knowledge of it t.

Tin foil hat: engage.

This acquisition isn't about acquiring a profitable business; the $400 million price tag is irrelevant. This is about Wall Street gaining an investment foothold in the market. The cryptocurrency markets are far too illiquid for Wall Street firms with deep balance sheets to acquire positions in BTC and other coins. I've been watching firms like GS operate for a long time; they typically spend 2-5 years accumulating stocks before a significant mark-up and massive rally.

They don't have nearly enough time for that in this case. The next best thing? Buy an exchange, churn out percentage commissions, and hold the coins.


In before Tether markets get de-listed. :P

That "deeper knowledge?" They got the green light from US regulators. Carte blanche, clean slate:


Poloniex is in the clear now. I suspect Bitfinex and Tether won't be so lucky. In fact, I really don't think either of them will be operational a year from now.

That's actually big for the crypto world, Circle is a big company that sets high standards around consumer protection and self-regulation, and the recent acquisition will make a wide range of digital assets more safely accessible to public.

I once tried trading in poloniex too last year. I heard they had a hard time getting traders due to bad rep. Their trading volume really dwindled but it's still one the top trading platforms in crypto. Hope this change for them will up their game with new exchanges popping out every other month.

We cant really say whether the big green candle is because of this news or not because Bitcoin has been in the limelight for quite a good time now and even if the news wasn't announced, i think the price of BTC would still have increased. We can say that this news has boosted BTC's price and chances are there that the increase in price will still continue since there aren't many people aware of this right now.

This was going to eventually happen, banks do not like the idea of bitcoin but if investors are willing to put their money in cryptocurrencies then banks will find a way to try to profit from it, and buying exchanges seems like the perfect opportunity to enter the game, exchanges for the most part already perform the job of a bank so it is a natural match and by buying an already existing exchange they avoid the negative response they may get from the community if they opened their own exchange.

Bittrex and binance are better

saw this too, Circle has continued to re brand itself initially being a bitcoin company,with an aim of improving the accessibility of BTC and later on changing to a social payment company.its claimed that circle paid a whooping $400Mfor the acquisition. i however doubt if it had anything to do with the he negative prices we'v seen BTC experiencing, because if it had, means the company would be running at a loss just after the mega acquisition.

closed poloniex account, from time to time a little bit of ethics does not hurt

I am not a big Circle fan, because they used the old Bait n switch trick on Bitcoiners a few years ago. They started out as a big supporter of Bitcoin and then when they gained enough users, they dumped Bitcoin and changed their business model. I will never trust a company like that again. <They use people>

They are going to use "Poloniex" and spit it out when they are done with them. <absorb more customers into Circle>

This...



I'm really surprised that so many people in the crypto community see this GS buy-out as a good thing.
I expected that there would be outrage at this news and I thought I'd be seeing an organized boycott of Poloniex.

I thought greedy, elite banksters like Goldman Sachs are the very antithesis of what bitcoin and cryptocurrency stand for and yet most of the community are going on about how great this is.. I don't get it..  ::) ???

If we thought there was market manipulation going on before, wait until we see what's ahead..




I'm with you..

F*ck Goldman Sachs and f*ck Poloniex...  :P

 :) :) if we just return to recall a circle that initially had been on the bitcoin wallet and its ability to come back and request bitcoins and then restructured their business a model that support mobile payment platform to chat with other friends and contact to send and kindly to your liking as a smart move poloniex is an established cryptocurrency exchange all could probably also you bring in those who fell by the circles service as a wallet of bitcoin exchange platform but now as well dwveloped trading platform .its one of the larger deals in cryptocurrency exchange from a trade volume now should increase in their ranking by this time.

I don't know this will be good for poloniex member or not because until now, I don't see any problem to trade in that site but once there is a problem, then I think I will move all of my balance to another site. I don't want to have a problem because of the changing of the poloniex owner and I think we deserve to get the best service from the new owner.