what would happen to the alt market if poloniex bought the farm?

[BTCLovingDude]

now i'm sure these guys know what they're doing, but let's suppose poloniex shuts its doors. what effect do you think this would have on pumpville?

it is really hard to imagine what is going to happen. there just a lot of altcoins with a lot of volume on this exchange and the risk of them going down is the same as any other exchange service out there. i think there will be a lot of price drops. especially in ethereum

would people migrate to other exchanges or does poloniex have unique levels of trust compared to others?

obviously they will migrate to other places.
but i don't get why you say poloniex has  unique level of trust. they are the same as any other exchanger like bittrex, c-cex, bitfniex and cryptsy and i don't see anything that separates polo from others.

can you elaborate on this?

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[gkv9]

This exchange had been the most active exchange and is even more popular nowadays than Bittrex, so if a news comes up of an attack or even if they decide to run away with people's money, I guess that there will be a huge dump in Bitcoins because it is all based on security which is why we are all here together...

Poloniex doesn't have anything special like more trust, but they do have better trading engines and things like margin trading and lending makes it a completely different exchange with such features and if it goes down, then why won't people migrate to others???

[European Central Bank]

can you elaborate on this?

it's where the whales have parked themselves. nowhere else has had volumes of that magnitude and it never seems to go anywhere else either. it's come back just fine from a hack which very few alt exchanges have and it has the best ui. that's attractive to people.

[DaveyJones]

This exchange had been the most active exchange and is even more popular nowadays than Bittrex, so if a news comes up of an attack or even if they decide to run away with people's money, I guess that there will be a huge dump in Bitcoins because it is all based on security which is why we are all here together...

Poloniex doesn't have anything special like more trust, but they do have better trading engines and things like margin trading and lending makes it a completely different exchange with such features and if it goes down, then why won't people migrate to others???

well you could say thay have something special... first... they dont have coin votes so you cannot buy a shitcoin in with few btc. Second they are most likely always the first exchange to add innovatives coins with new codebases... where other exchanges struggled with

[coins101]

Bittrex would become the new pump centre of the world

[blackhawk101]

Re: what would happen to the alt market if poloniex bought the farm?


it would be a good day

[talks_cheep]

As others mentioned preveiously, Poloniex had been hacked before. It will be hacked again. It's just a matter of time. Not if, but when. They were able to compensate the users, but then they were a small exchange with few users. Now that it's grown big, when the next hack comes, don't think they will so easily provide compensation, there will be a haircut. So, trade there with full expectation of losing your money.

[gkv9]

This exchange had been the most active exchange and is even more popular nowadays than Bittrex, so if a news comes up of an attack or even if they decide to run away with people's money, I guess that there will be a huge dump in Bitcoins because it is all based on security which is why we are all here together...

Poloniex doesn't have anything special like more trust, but they do have better trading engines and things like margin trading and lending makes it a completely different exchange with such features and if it goes down, then why won't people migrate to others???

well you could say thay have something special... first... they dont have coin votes so you cannot buy a shitcoin in with few btc. Second they are most likely always the first exchange to add innovatives coins with new codebases... where other exchanges struggled with

So, you want to say that they are too special that even those innovative coins don't get pumped on their exchange???
They ain't special in my eyes, I do trade there but they are not special... Even they got attacks and were almost gone during March...
But yeah, I do believe that they do have special security for their users to protect their funds and not get ripped...