POLONIEX its insolvent - Bolivarcoin Theory + Proff

[txtrader]

https://poloniex.com/press-releases/2017.05.16-Industry-growth-and-its-effect-on-Poloniex/

"We have never seen such enthusiasm for trading blockchain tokens as we have in the past few months. Since January, we’ve seen an increase of more than 600% active traders online and regularly process 640% more transactions than we did merely 4 months ago."

I am a newbie so what do I know but I also have a little experience with developing websites and this level of growth would be difficult to keep up with especially considering Ddos. I am reading that some of these attacks may be fake but even so I would imagine that they get many real attacks. I have experienced some lags and they are always irritating and sometimes an opportunity cost but still making money so I am not too unhappy about it. I am one of those 600% new traders.

[1715030215]

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[1715030215]

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[iluvpie60]

So going tohttps://www.walletexplorer.com/ site and taking a look at Poloniex wallet https://www.walletexplorer.com/wallet/Poloniex.com i saw that the balance on the hot wallet has decreased considerably from 36000 BTC day 9-5-2017 https://www.walletexplorer.com/wallet/Poloniex.com?page=460 https://www.walletexplorer.com/wallet/Poloniex.com?page=1 to 4700 BTC today 15-5-2017

So how is possible that POLONIEX trade 300.000 BTC a day and has only 4700 BTC on his wallet?

They may be utilizing cold wallets. That doesn't necessarily indicate insolvency.

Also, that address holds only their Bitcoins whereas most trading volume on Polo is in ALT coins.

I stopped using Polo though for a different reason, because I got tired of them always putting hour(s) long holds on my withdrawls.

Hours long holds on withdrawals is a warning sign for me to start moving your coins out of the exchange. What reason do they have to start holding our withdrawals for that long? Poloniex is also attested as very slow and lags in situations of very high trading volumes. Many traders are already losing money by using that exchange for the last 2 weeks.

When you say hour long holds on withdraws, how much btc are you withdrawing? Their limit per daily withdraw is 2,000usd worth of anything if you dont verify anything.

How much arw you withdrawing? I have sent .22 there and taken it out in the same day(after making a nice .04 btc profit). I had no issues.

[iluvpie60]

https://poloniex.com/press-releases/2017.05.16-Industry-growth-and-its-effect-on-Poloniex/

"We have never seen such enthusiasm for trading blockchain tokens as we have in the past few months. Since January, we’ve seen an increase of more than 600% active traders online and regularly process 640% more transactions than we did merely 4 months ago."

I am a newbie so what do I know but I also have a little experience with developing websites and this level of growth would be difficult to keep up with especially considering Ddos. I am reading that some of these attacks may be fake but even so I would imagine that they get many real attacks. I have experienced some lags and they are always irritating and sometimes an opportunity cost but still making money so I am not too unhappy about it. I am one of those 600% new traders.

Their site is laggy at times. I have been using it for a week now. It has happened a few times. Most likely it is due to a lot of traffic. Other than a few times, the other 50 or so times i was on and trading was fine. I go on it every few hours.

[vapourminer]

got tired of the lag. pulled the last of my trading/lending coins out today.

pity i liked polo. maybe it will come back better sometime in the future.

[p3ppymon]

Do you really think Poloniex is faking ddos / block users at the peak of a pump?
That would be a serious scandal.

[bbc.reporter]

What other options are there for newbies? I burned my fingers with Yobit, but so far I have had a relatively good experience with Poloniex, except for lags and sometimes I cannot cancel orders.

There is Bittrex for the newer and latest cryptocoins and BTCE for the older and well established coins. Poloniex is not a good exchange for high volume. You will surely lose some bitcoin value there. Others speculate they are slowing down the site on purpose.

[marra]

To me it looks like MTGOX all over again, first there were excuses about the trading volume which everyone believed in, and then one morning there was Mark saying he's sorry.

[European Central Bank]

To me it looks like MTGOX all over again, first there were excuses about the trading volume which everyone believed in, and then one morning there was Mark saying he's sorry.

they now have over 10,000 more users online than when the problems started and i presume it takes weeks or months to get more staff and upgrade servers. they should either restrict users online or new signups until they've got their shit together.

i still think it's a genuine capacity problem. still, no one should be leaving coins on there.

[Hueristic]

To me it looks like MTGOX all over again, first there were excuses about the trading volume which everyone believed in, and then one morning there was Mark saying he's sorry.

they now have over 10,000 more users online than when the problems started and i presume it takes weeks or months to get more staff and upgrade servers. they should either restrict users online or new signups until they've got their shit together.

i still think it's a genuine capacity problem. still, no one should be leaving coins on there.

What they really need to do is prioritize browser based input over api calls. But that is the greed factor.

[gollygosh]

POLO is great if you think lag and trust are not issues

[marra]

50 hours and I still have "awaiting approval" for the sum of 0.1 btc, I mean, it's not even a significant sum.

[cybercash]

50 hours and I still have "awaiting approval" for the sum of 0.1 btc, I mean, it's not even a significant sum.

Lol that's nothing, I am waiting 3 weeks for my verification 2 approval...