Do you trust Poloniex?

[Spoetnik]

The guy reading your support ticket may have limited powers and have to call someone (who he is waiting for)
I seen this like I said on another exchange and the same problem you mentioned it's not unusual on any of them really.
And don't forget we don't know publicly how they work technically and internally..
for example Mt. Gox ran a custom backend with Bitcoin so things were cut and dry / simple like we would have guessed.
And they are not going to tell you how it works behind the scenes either.. for security reasons for one thing.
Trust ? tough question I think, not black and white.
Many services have gone and started out with good intentions and later ripped us all off with BS excuses and lies and games etc.
So trust needs to be reassessed I think.

I trust Poloniex more than most.
I would watch for patterns I guess, such as if that problem is happening to a lot of guys frequently etc.

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[mrvegad]

The guy reading your support ticket may have limited powers and have to call someone (who he is waiting for)
I seen this like I said on another exchange and the same problem you mentioned it's not unusual on any of them really.
And don't forget we don't know publicly how they work technically and internally..
for example Mt. Gox ran a custom backend with Bitcoin so things were cut and dry / simple like we would have guessed.
And they are not going to tell you how it works behind the scenes either.. for security reasons for one thing.
Trust ? tough question I think, not black and white.
Many services have gone and started out with good intentions and later ripped us all off with BS excuses and lies and games etc.
So trust needs to be reassessed I think.

I trust Poloniex more than most.
I would watch for patterns I guess, such as if that problem is happening to a lot of guys frequently etc.

This was my first time using an exchange and I heard good things about polo so I thought I would give it a try. What you posted makes sense and this experience has given me insight to how exchanges run. It's true about starting out with good intentions but after having the chat with tf2honeybadger I can see how things can get out of hand easily for an exchange,my trust for them and other exchanges is less now then when I first started. That might change over time but who knows.

Plug: We need to get more coins to adapt ACCT that Qora and Burst have so trades can happen within clients with no need for third party.

[GenX]

I trust Poloniex with my coins. 

[hodlmybtc]

I trust Poloniex, but as with every other exchange don't let leave any unnecessary funds on there, it's not a wallet.

[celestio]

^ with 95% of Monero volume going through Poloniex, that's what you would say rangedriver.

I trust both Poloniex and Bitstamp for much the same reason: Both demonstrate credible professionalism and both have proven to be a force for good, rather than an opportunistic disaster waiting to happen. Both have been subject to hacking attacks and on each occasion have not only survived, but paid back any losses that occurred.

I think the problems with Poloniex are:

1) It's trollbox driven, with big organized pumps pushed along through hype

Any evidence of this? How does an exchange even become trollbox driven? If you're talking about the fact it has a trollbox, then how would that differ from BTC-e or Cryptsy - exchanges which you cite as being 'real exchanges' despite them being highly dubious affairs, either technically (Cryptsy) or professionally (BTC-e).

Anyone who has spent any significant amount of time in the Poloniex trollbox would know that it has a relatively high standard of dialogue and is actually very well moderated.

As for big organized pumps? What? Where is the evidence for this? Hype and FUD is an unfortunate symptom of cryptocurrencies which transcends and introsects the entire playground, twitter, BCT, trollboxes et al. There will always be more than one Fontas, or Wolong in the world, but in terms of 'big organized pump groups?' ... there is zero evidence of this, and certainly zero evidence even in conjecture of it having any exclusive connection with Poloniex in particular.

Monero is a clone of Bytecoin with zero development / troll devs but they manage to get $3 million marketcap for that currently on Poloniex, Stellar is another one that get's stupid-price pumped there but BTC38 sometimes has high STR vol too so I don't know how much.. etc etc words

Ahh here we go. This is what you really wanted to say. A chance to do your anti-Monero thing.

real exchanges (like cryptsy, bittrex, bitstamp, finex etc) and sh*tcoin exchanges like C-CEX - Poloniex is the best Trollbox-driven exchange and the worst 'real' exchange if it qualifies for that.

Be careful if you trade there, if you are buying because of what you read in the trollbox, make sure you check out what the volume / demand is on other exchanges (check 'markets' tab on CoinMarketCap coin pages) - if it doesn't add up, it's a troll price and you will likely be dumped on later.

The fact you qualify Cryptsy as a real exchange is extraordinarily risible, but in any event, it is perfectly clear where your motives lie.

Peace.

Knowing you post history and our previous confrontations and with all your buddies, can't be bother to read/reply all your msg rangedriver, sorry (because I know arguing with you is pointless)

But as to why Polo is trollbox driven - give you a clue, you load the page, and 30% of it is a trollbox by default, full of pro-pump teams..  Cryptsy / bittrex / stamp / finex don't have that. it's pretty obvious.

cheers

You know, I start of with giving everyone equal credibility. After reading your troll posts, you have lost all credibility BlockaFett. Your words make absolutely no sense. Cryptsy has much more "trollbox" pumping than Poloniex imo, and by your logic, then Bitcoin being having 99% of it's volume on startup-cryptocurrency exchanges means it's just a joke right? Your words are nothing but clearly biased opinions, absolutely nothing factual comes from your text BlockaFett.

Not that I'm surprised.

[bitbaby]

I trust Poloniex but I wouldn't encourage keeping your coins in any exchange, just get in, trade and get out. I have traded there many times and never faced any problems what so ever. But your concerns are liable since your coins are stuck there for over 2-3 days.

Keep writing to support and tell them to tell you when can they release coins as you need them urgently.

[NorrisK]

The guy reading your support ticket may have limited powers and have to call someone (who he is waiting for)
I seen this like I said on another exchange and the same problem you mentioned it's not unusual on any of them really.
And don't forget we don't know publicly how they work technically and internally..
for example Mt. Gox ran a custom backend with Bitcoin so things were cut and dry / simple like we would have guessed.
And they are not going to tell you how it works behind the scenes either.. for security reasons for one thing.
Trust ? tough question I think, not black and white.
Many services have gone and started out with good intentions and later ripped us all off with BS excuses and lies and games etc.
So trust needs to be reassessed I think.

I trust Poloniex more than most.
I would watch for patterns I guess, such as if that problem is happening to a lot of guys frequently etc.

If spoetnik can share some positive words on poloniex, it should be fine at the moment

Besides, Poloniex got hacked 2 years or so ago and I think they handled it quite well. Better than most would have done it.

[shadowphoenix]

answer is both yes and no.
yes because:

1. service has been very stable for me for over a year (same as bter)
2. once i had a support issue, they responded very quickly and acted like pros.

no because:

u shouldn't trust anyone (except perhaps close family) 110%. same with banks imo.

[Rude Boy]

Yes! of course i trust poloniex.com . I'm using poloniex for XMR, BCN, DSH, MCN (trade these coins) and as a wallet for LTC. I didn't got any problems yet on poloniex.


~Rude Boy

[Lorenzo]

Besides, Poloniex got hacked 2 years or so ago and I think they handled it quite well. Better than most would have done it.

It happened slightly over 1 year ago and as far as exchange hacks go, it was actually a pretty minor one since they only lost 12 percent of their customers' funds. I agree that they handled it pretty well but had they lost much more than this, there's no doubt that the recovery would have been far less swift.

Yes! of course i trust poloniex.com . I'm using poloniex for XMR, BCN, DSH, MCN (trade these coins) and as a wallet for LTC. I didn't got any problems yet on poloniex.


~Rude Boy

Why are you using Poloniex as a Litecoin wallet? There are light wallets such as Electrum-LTC available for Litecoin if you don't want to download the full client and blockchain.

[tiggytomb]

I have had no issues with Poloniex although have started to move towards Bittrex more and Yobit for the newer coins

[GhanaGamboy]

Sorry to hear about your issue with them but I have to add they are my most trusted exchange for alts, bittrex not that far behind. With poloniex your funds are safe they do seem to have problems with depositing and withdrawing some coins but you know your funds are safe. I notice the first time I had a problem I wrote multiple messages threw frustration and that was the longest they have ever took. It will get sorted soon enough, probably already is?

[Xialla]

I trust them for on time transactions and fast exchanges of altcoins..generally, they are imho fine

[Lorenzo]

Sorry to hear about your issue with them but I have to add they are my most trusted exchange for alts, bittrex not that far behind. With poloniex your funds are safe they do seem to have problems with depositing and withdrawing some coins but you know your funds are safe. I notice the first time I had a problem I wrote multiple messages threw frustration and that was the longest they have ever took. It will get sorted soon enough, probably already is?

They might be safer than other exchanges out there but it's a bit of a stretch to say that funds kept with them are guaranteed to be safe. Many exchanges can and have been hacked in the past, and Poloniex isn't immune to this. The only true safe solution to storing funds IMO is keeping your coins locally on your computer (and preferably in cold storage) or in the form of paper wallets.

Exchanges are more or less a necessary evil though. Despite being a generally unsafe place to store your funds, they are necessary for exchanging between coins. By setting up deposits and withdrawals immediately before and after trading and not keeping your coins stored there for any longer than necessary, you can reduce (but not completely eliminate) your exposure to the risk of them getting hacked or running off with your funds (the second one is probably not a huge risk in Poloniex's case but it's definitely a major problem with shadier exchanges).

[GhanaGamboy]

Sorry to hear about your issue with them but I have to add they are my most trusted exchange for alts, bittrex not that far behind. With poloniex your funds are safe they do seem to have problems with depositing and withdrawing some coins but you know your funds are safe. I notice the first time I had a problem I wrote multiple messages threw frustration and that was the longest they have ever took. It will get sorted soon enough, probably already is?

They might be safer than other exchanges out there but it's a bit of a stretch to say that funds kept with them are guaranteed to be safe. Many exchanges can and have been hacked in the past, and Poloniex isn't immune to this. The only true safe solution to storing funds IMO is keeping your coins locally on your computer (and preferably in cold storage) or in the form of paper wallets.

Exchanges are more or less a necessary evil though. Despite being a generally unsafe place to store your funds, they are necessary for exchanging between coins. By setting up deposits and withdrawals immediately before and after trading and not keeping your coins stored there for any longer than necessary, you can reduce (but not completely eliminate) your exposure to the risk of them getting hacked or running off with your funds (the second one is probably not a huge risk in Poloniex's case but it's definitely a major problem with shadier exchanges).

Not sure where you got me guaranteeing funds being safe. I simply said your funds are safe. You know why? Because mine have for around a year some quite large deposits and withdrawals not a single satoshi lost that is safe enough in this business. If they was hacked which I doubt because they have good security practices then people will be reimbursed.

Who said storing funds on an exchange? No one said storing funds on an exchange but maybe I should have added while trading your funds are safe, saying that though I probably do have a couple of bitcoins worth of alts on there but that is minor a small %, I never risk what I can't afford to lose as everyone should.

As I said I trust them and I would actually trust them with 50% of my holdings if I needed to but luckily that is not needed.

[e-coinomist]

Their Mining Shares.

My only mood experience with them. These mining shares meanwhile are gone. If Poloniex rolls out another go trying something similar, I would like to see some more transparency from the technical side. You know, like ASICs used, some live data of current performance and output.
It was rather opaque and turned into a tradeable asset more then some reliable mining revenue.

[terman45x]

Polinex i trust more than the others. Not exactly a ringing endorsement but hey.

I am actually looking forward to Instadex etc making the central exchanges obsolete.

[stallion]

I never had an issue with Poloniex.

Howewer. Never leave your funds on an exchange. Use your personal wallet.

[BillyBobZorton]

From my experience Poloniex is one of the best exchanges in the cryptospace. I would wait a little while longer and see how things turns out.

In general I trust Poloniex on the same parallel as I do Bitstamp.

^ with 95% of Monero volume going through Poloniex, that's what you would say rangedriver.

I think the problems with Poloniex are:

1) It's trollbox driven, with big organized pumps pushed along through hype

2) They like to push coins that aren't traded anywhere else so that the price can be hyper-inflated for what it actually is, e.g. Maid and Monero both have 95% of their volume there.. Maid isn't even released yet but it has $7mil market cap on Polo, Monero is a clone of Bytecoin with zero development / troll devs but they manage to get $3 million marketcap for that currently on Poloniex, Stellar is another one that get's stupid-price pumped there but BTC38 sometimes has high STR vol too so I don't know how much STR price is from real demand.  So the trolls / hypsters can push these coins to ridiculous prices while the rest of the market won't touch them

I see Poloniex as the bridge between real exchanges (like cryptsy, bittrex, bitstamp, finex etc) and sh*tcoin exchanges like C-CEX - Poloniex is the best Trollbox-driven exchange and the worst 'real' exchange if it qualifies for that.

Be careful if you trade there, if you are buying because of what you read in the trollbox, make sure you check out what the volume / demand is on other exchanges (check 'markets' tab on CoinMarketCap coin pages) - if it doesn't add up, it's a troll price and you will likely be dumped on later.

As to trust, IDK, I trust them less than the big exchanges because a lot of noobs gets ripped off due to the troll-driven nature, and they support that.  So it's definately unethical, but as to doing another Moolah / Mintpal, IDK - just DONT KEEP COINS THERE YOU AREN'T TRADING

cheers

Lol you have no idea to say tat. Monero and Maid are in fact the only 2 alts worth investing a shitton of money long term, specially Maid. The rest are all shitty pumps and dumps.
I used to like Poloniex, until they forced people to put their real data, then I said bye.

[shanem]

Poloniex is trusted for now.
However, you should remove your btc from exchanges.
You never know when any exchange would be shut one day.