Yep. Kraken told me they have no plans to add XEM, yet they still hold crap like Dogecoin... which did $65K in volume there the last 24 hours.   The fact that they are busy is no excuse.

sarcasm is your friend.

bitcoin has gotta be great if you live in one of them shit countries where you can't trust your local currency or get ahold of precious metals.    Freedom from corrupt government officials unless they kick down your door and shoot you, that is. :p  North Korea, anyone?

If somebody wants to hoard bitcoin, more power to them. Nobody is holding a gun to a person's head forcing them to pay $10,000 for a single coin.. it's their choice.   Owner of commodities invest in them because they want to hold onto or increase their purchasing power.  You can use gold to buy shit, but it's also an investment. Same with bitcoin.

There are no girls with bitcoin, unless their boyfriends gave it to them.

Like the guy in post number 2 said, bitcoin is like gold... nobody goes to walmart and buys groceries with it, but it's a great store of value.  Gold was the original currency.. it doesn't need to be the payment everyone uses, it stands on it's own accord. Same with bitcoin.. bitcoin was the first.. bitcoin is gold. The blockchain technology perhaps can be updated some, but bitcoin has nothing to prove to the altcoins...  some altcoin can take over the role of being something you buy a coffee with. So what... there's a place in cryptos for them both.

According to kraken they have "no plans" to add XEM at this time even though they still have crap like dogecoin listed on their exchange. Kind of frustrating... delist doge, add NEM.. the top 10 coins should be on your exchange. Get it done.

Coinbase, being the most reputable exchange, I can understand them only doing top 5 market cap coins.   These exchanges move as slow as the government at implementing important changes and customer service.. if I was running these things I'd be doing a lot of the work myself, personally, if I didn't have the staff to get it done.

There's no reason changes like this should drag on for months or years....

 

Giving developers warning before they delisted would not be a good idea legally.. when you make announcements like this, you're not supposed to leak it to anyone before hand to cover your butt... though if they told the developer and the developer leaked the information they would be the one liable.. it would be like leaking earnings reports ahead of time and letting people insider trade before they come out.. which I'm guessing does happen and people don't get caught all the time... human beings are corrupt and will take advantage when they can.

Bitcoin is not going to be the global currency everyone uses for small transactions.. think of bitcoin as like gold.. a store of value that people don't use when they go to wal-mart. Some altcoin with improved blockchain technology like Ethereum, XEM, or some other currency that can handle the transaction load with less fees with take that role.

For transferring hundreds to thousands of dollars, paying 50 cents to a buck is hardly going to bankrupt a person.. if it starts getting up into the multi dollar range, it will start to become an issue however.

I just gotta say, great job with the website.. it's perfect.. I wouldn't change a thing.  It's even not firewalled where I work for some reason, and very few websites there are not blocked... mostly our retirement account sites Fidelity and Schwab along with the local weather and .gov sites. Someone who works in IT in our plant must have an interest in cryptos.   Nice as I can check it while I'm at work. :p

A lot of coins, including ones not listed by poloniex at all, got pumped on April 16th. Spend a little time digging... I'm not saying the exchange is shady or not, but I see nothing really suspicious from the digging I've done, and I have stock market experience particularly with looking at charts.   I think people are just seeing a pattern in random events, like humans like to do when they try to use some obscure Simpsons episode to prove people have foreknowledge of 9/11 and other stuff. Looks like a coincidence to me.

All altcoins were rising throughout April.

stocks sell off massively after a bad earnings announcement.. they're often announced after the closing bell and despite the fact markets are closed and only extended hours volume is taking place, stocks can make massive moves on low volume.. all it takes is people deciding to bid less for the stock.... no buyers, stock goes down.

As hard as it may seem, a stock with a market cap of 100 billion would never result in 100 billion worth of cash if everyone tried to sell... "market caps" are largely fluff and dependent on a stable supply and demand.. all that "wealth" is paper and can evaporate into thin air with bad news, without even a trade taking place.. all it takes is bad news and suddenly the buyers lower their ask prices and cancel orders.. the "bagholders" have no choice but to sell for the lower price.  All financial markets are a game of musical chairs and gambling, to a degree.

Usually moves like this happen instantly after the news occurs.. you don't need people sitting at their computers trading in mass amounts.. just buyers who cancel their orders or reduce their asks. Certainly news of the only major exchange these altcoins trade on is going to trigger a massive reduction in the asking price of the coin instantly. It's no mystery here.

As for the "pump" , all altcoins were going up during April, every shitcoin that's listed on coinmarketcap.


TLDR: I don't believe poloniex did any wrongdoing here and don't see how they could possibly make that much money from low liquidity virtually worthless altcoins compared to what they get from legit transaction fees. The plunge in price is a perfectly normal market reaction and can be seen in the stock market all the time in numerous examples when a company reports bad earnings after the bell or some other big news comes out.

I looked at the charts of these coins and compared them to the charts of other noname alt coins not being delisted and I don't see any huge differences aside from the plunge which came after the announcement, not before.  A lot of altcoins had volume spikes and raises in price on April 16th, including coins not listed on Poloniex and coins that are on Poloniex but not being delisted. The announcement came at 708PM April 18th.

I'm not convinced they could make that much money trading a bunch of illiquid, low volume, low market cap altcoins compared to what they make in exchange fees from doing legit business. I can see how someone might think they did something funny unless they dig deeper.  In any case, someone had to be a willing buyer. Maybe they have bots that manipulate the price? If they do, I suggest they STOP now and play it clean for the good of the technology and cryptos in general. Raise fees if you have too.... if they raised transfer fees to and from a bank account to .5% or charged a monthly fee of 10 bucks per user or something of that sort they'd make a KILLING compared to trading these 17 almost worthless, low liquidity altcoins.

If I were them I'd have customer service/HR reps posting on this forum at all times to answer questions like this or at least cover their butts.

Just because something goes up that doesn't mean it has to go back down.. think of a stock that has good earnings and the price shoots up.. it's about supply and demand.  I do admit this looks like a bubble but bitcoin is still not even in the news yet like it was during the 2013 bubble.. it will probably take $2000 bitcoin to arouse any interest from the MSM.

Volume during this rally is 10 fold higher than in 2013-2014.  This, in theory, should be able to support a much higher top before we correct.... I admit it could all go to crap pretty fast though.. an exchange halts fiat withdraws, people panic sell.. the nasdaq went from 5000 back to 1000 way back during the dot com bubble.

My guess is it's another bubble.. picking a top is the question... nothing like bitcoin has really been devised before and with so much fiat in the world, 35 billion is really peanuts.  Throw in billionaires expressing interest in it....

Thanks to my stake in NEM which is completely unsold, about 33% of my net worth is in cryptos.  That could rise to 60% or fall down to 20%.. I'm betting on a rise because of the technology the coin possesses. Some would say I'm insane to not sell it now, then again my co-worker said I was insane last spring when it made it's first rise to about $30K in value. Meh.. to me it's almost like it's not real since I never invested a cent of my own money into it.. I got a stake for free.

They're like little penny stocks.. stock have no inherit value except the value they are given... technically you can say that about fiat, gold, or anything, really. Supply and demand.. value is in the eyes of the beholder. Wealth is really an illusion.

I do know that cryptos trade on a global market, and 35 billion dollars is a drop in the bucket on a global scale... that's about the market cap of Nintendo, NTDOY stock right now.. one company among hundreds which have far higher market caps... 35 billion is nothing.  There is tens of trillions in debt out there, hundreds of trillions in assets, and that's not even counting other countries and other currencies. However, until the large scale ability to exchange cryptos for fiat exists without massive delays, the market for cryptos will be somewhat limited. We need more exchanges that do fiat, and they need to get their act together and hire some people to handle their load so stuff gets done within a couple days, not a couple weeks.

Like it or not, if you want cryptos to take off, you have to play with the big boys. They are the gatekeepers. Right now exchanges feel a bit like rolling the dice keeping coin in them right now, and it shouldn't feel that way. Another MtGox type scenario is what we want to avoid, for the good of this technology.

Managed to access my old ripple balance from when I was mining for ripples way back when.. I only did it for a few days and managed $125 worth of ripple by today's price. Should have kept that thing running for a few months or more. Oh well.

I had my secret key saved in an encrypted text file.. as long as you got that you're good.  

NEM (XEM)  2,249,850 coins give or take.

No reason to sell.. it's going to hit 800 million in the next 2 weeks.   It will be a solid number 4 behind Ethereum and Ripple within a month.  

Also kraken and poloniex are taking forever to do step 3, verify driver's license.. so until they stop dragging their feet I'm not going to start trading my stash. It took coinbase all of 2 minutes.  I'm brushing up on cryptos after a couple of years idle, getting my computer secured with malware scans and the like, locking down the browser, getting the 2 factor authentication backed up in my safe deposit box, adding some paper wallets to my lastpass, and getting ready to enjoy the evolution of cryptos and the newfound interest that is ongoing.

Yeah there's more risk to using bitcoins which is why wide scale adoption by the public will never happen.  More likely large institutions will use the blockchain technology. You can always get back lost passwords, stolen balances, etc. typically from banks.. not if you lose the private key to your bitcoins. That's alright though.. who says there needs to be wide scale adoption by your wells fargo type chain?

Would be nice to see more exchange love like kraken for starters.   They are all so busy it takes them 2 weeks to do anything though it seems. :p

I plan to hold most of my stake.. I may toss some on bittrex and trade it for some ARK... If ETH can sport a 6 billion market cap NEM will hit 700-800 million easy within a few weeks... With the potential to overtake ETH long term.. Waiting for kraken to add xem to their exchange... That will add fuel to the fire... The lack of exchange coverage acts to suppress xem demand to a degree.