WHOOPS>>.. POLO random new delistings causing flash crash - irresponsible?

[cryptohunter]

Wipe out for some coins today on polo. Quite irresponsible for investors really just random delisting with no warning or explanation.

Roll on decentralised exchanges. I actually even prefer bittrex lately.

I see lower volume coins remaining there with terrible support from their developers and some having no devs at all.

How long will be have to wait for a decentralised exchange that has reasonable trading speed for day traders?

Polo is dangerous to the altcoin market even if some are shit coins. They encourage speculators to earn their fees then have no consideration at all for causing wipeouts for some people.

I grabbed up some cheap bargains and already resold for a few quick bucks but really those that have a lot in any of those that were crushed on this news should be pissed at polo. It discourages trading acting like this. I see a lot of moaning in the troll box. Bad for the alt scene when exchanges act like this with no warnings and so many delistings.

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[Cryptotraider16]

Wipe out for some coins today on polo. Quite irresponsible for investors really just random delisting with no actually explanation.

Roll on decentralised exchanges.

I see lower volume coins remaining there with terrible support from their developers and some having no devs at all.

How long will be have to wait for a decentralised exchange that has reasonable trading speed for day traders?

its good! lets delist all shit coin with no volume!
i hope bittrex will do same!
both exchnages have 50+ altcoin listed there with under 500-1000 $ volume trade! WTF

better delist that sit coins and give new coins testing option to see if they can move forvard...

[cryptohunter]

Wipe out for some coins today on polo. Quite irresponsible for investors really just random delisting with no actually explanation.

Roll on decentralised exchanges.

I see lower volume coins remaining there with terrible support from their developers and some having no devs at all.

How long will be have to wait for a decentralised exchange that has reasonable trading speed for day traders?

its good! lets delist all shit coin with no volume!
i hope bittrex will do same!
both exchnages have 50+ altcoin listed there with under 500-1000 $ volume trade! WTF

better delist that sit coins and give new coins testing option to see if they can move forvard...

If you are having a hard rule to delist the lowest volume coins then that is fine. Although should have more warning that hard removal date 2 weeks where you know there is no appeal with them


In one way though if these coins deserve to exist and be traded based upon their merits they will not be killed because one exchange decides they are to be removed.

Let's see what happens.

[disconnectme]

I saw the Ann, I think they will be delisted on Jan 4, 2017 so you have time to move your coins, there is no need to be supporting a  project not being supported by the developers again, they are liabilities to the exchange and can even expose them to attack.

[vlom]

good and useful coins don't need a lot of exchanges. garbage coins only exist for trading.

[GreenLighter]

No volume, no listing

[BlockEye]

delisting without further notice is a irresponsible move. Because many traders just like me bought some unfamous coin hoping that it will pump soon. But i think POLO wouldn't do that because they made a notice on their announcement and delisting of shit coins is normal to open up free space for other potential coin.

[vlom]

delisting without further notice is a irresponsible move. Because many traders just like me bought some unfamous coin hoping that it will pump soon. But i think POLO wouldn't do that because they made a notice on their announcement and delisting of shit coins is normal to open up free space for other potential coin.

buying coins just because you hope that they will be part of the next altcoin bingo is a risky reason. and polo not just delisted. they told everyone that they will delist coins.

[amacar2]

After they announce that they will be delisting some coins there will be sudden crash in its price so ultimately the one who are holding those shitcoins will loss a large sum of money.

However the one who invest in any alts should consider looking at news/updates regarding the coins they are trying to invest. Investing in some random shit coin without any research just to hold and wait for pump to sell on profit will ultimately lead to huge loss.

[Spoetnik]

They should randomly delist coins.. pick them out of a hat (it would be fun to watch the drama)   

[GreenLighter]

Without a warning is bad though

[vlom]

Without a warning is bad though

this is the waring.

On January 4th 2017, the following markets will be delisted: MMNXT, BITCNY, NBT, DIEM, LTBC, RDD, XST, XCN, XDN, SYNC, CGA, GEO, BLOCK, 1CRPosted by MobyDick at 2016-12-19 04:33:10

or should they warn some VIP traders before this? or even they did this. who knows.

[cryptohunter]

No volume, no listing

This is the point. Volume seems not to be the deciding factor, neither is lack of development team.

Although yes I see no real value coins getting delisted. Some will argue no alts have value when we have btc.

Sad though that the exchange listing is now so important at polo that the coin can lose 90% of its value from a future delisting warning when nothing else changed regarding that alt at all.

The fact one exchange can cause such market moves just by announcement shows to me that this exchange has become to important to the alt trading community. This shows also it is open to gross manipulation too.

We need more exchanges that have a more equal trading volume. Everyone is too dependent on polo. If it goes down it will be a disaster for alts in general.

On the flip side you need to remove coins that have no dev support since they open the exchange to exploits.

There is a need for decentralised exchanges that have greater speed and ease of use.

[cryptohunter]

Without a warning is bad though

this is the waring.

On January 4th 2017, the following markets will be delisted: MMNXT, BITCNY, NBT, DIEM, LTBC, RDD, XST, XCN, XDN, SYNC, CGA, GEO, BLOCK, 1CRPosted by MobyDick at 2016-12-19 04:33:10

or should they warn some VIP traders before this? or even they did this. who knows.

Exactly I mean how would you know? this is the issue when one exchange holds so much power in the alt community.

It is open to gross manipulation.

I like polo but I feel the warnings Bittrex give are far fairer to traders. They give their communities time to pump up volume and their devs time to make communication and answer concerns bittrex may have about the security of the wallets.

It's simply not good to have one exchange having so much power over the fate of alts.

I like polo but we need a few exchanges that have similar volume or some decentralised exchanges that have an experience close to centralised ones (if that is even possible)

Some people that were wiped out in this will likely not be putting more fiat into their day trading games they were enjoying. Imagine if your portfolio had a few of these delistings in. Scary. Could be down 80%+ just because they are not longer to be traded on polo. The fact they may still be traded on other exchanges is of no import it would seem. Most people are down when trading eventually that's just how it goes but to be wiped out in one night is kind of harsh.

I'm not saying polo are essentially in the wrong, they may need to take these actions to protect themselves and their other customers... but the entire alt exchange system needs to be more distributed. One huge exchange and the rest dealing in crumbs is not healthy. It is open to manipulation for sure.

[GreenLighter]

Well that's a warning

[carlfebz2]

Without a warning is bad though

this is the waring.

On January 4th 2017, the following markets will be delisted: MMNXT, BITCNY, NBT, DIEM, LTBC, RDD, XST, XCN, XDN, SYNC, CGA, GEO, BLOCK, 1CRPosted by MobyDick at 2016-12-19 04:33:10

or should they warn some VIP traders before this? or even they did this. who knows.

If they give a warning why we are still arguing regarding on delisting those low volume coins.I think its just a right thing to do to free up some space and delisting those all shitcoin.Some people do have point that they bought a particular coin and wait for a pump but delisting those would really be a bad thing for them.

[Hotmetal]

I'm not saying polo are essentially in the wrong, they may need to take these actions to protect themselves and their other customers... but the entire alt exchange system needs to be more distributed. One huge exchange and the rest dealing in crumbs is not healthy. It is open to manipulation for sure.

If you made a fortune on X/Y/Z coin, you would be very happy. You lost out so you're upset, naturally.
That's the risk you take entering the alt-coin domain and when the bitterness subsides, I think you'll agree its part of life, move on and dive right back in.

Could there be more spread distribution? Sure. Will it stop flash-dumping when 1 exchange delists it? I doubt it.

[MyLucky7]

Without a warning is bad though

this is the waring.

On January 4th 2017, the following markets will be delisted: MMNXT, BITCNY, NBT, DIEM, LTBC, RDD, XST, XCN, XDN, SYNC, CGA, GEO, BLOCK, 1CRPosted by MobyDick at 2016-12-19 04:33:10

or should they warn some VIP traders before this? or even they did this. who knows.

I think Polo shall send emails to notify ALL of their customers, not only VIP traders.

[Hotmetal]

Without a warning is bad though

this is the waring.

On January 4th 2017, the following markets will be delisted: MMNXT, BITCNY, NBT, DIEM, LTBC, RDD, XST, XCN, XDN, SYNC, CGA, GEO, BLOCK, 1CRPosted by MobyDick at 2016-12-19 04:33:10

or should they warn some VIP traders before this? or even they did this. who knows.

I think Polo shall send emails to notify ALL of their customers, not only VIP traders.

Please provide proof instead of making accusations. Last I heard, Polo is fully audited and any insider trading would land them in a LOT of hot water.

[Cryptotraider16]

guys dont cry,you have more then 14 days...so all can take them down..but anyway if coin have 0$ volume trade its no worth coin at all;)