Where to....Poloniex?

[cryptonia]

Poloniex used to have such a good reputation, but it seems that nowadays the Polo trollbox is full of people complaining about the lack of service.

Now...Poloniex must  be making extraordinary amounts of money, so they could easily fix the problem....but they don't

So the problem must be that they don't care (unlikely)...or something else...what could it be?

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[bathrobehero]

Poloniex used to have such a good reputation, but it seems that nowadays the Polo trollbox is full of people complaining about the lack of service.

Now...Poloniex make be making extraordinary amounts of money, so they could easily fix the problem....but they don't

So the problem must be that they don't care (unlikely)...or something else...what could it be?

They either clearly don't care or they're not doing that great with money. Maybe they're handling money poorly or got silently hacked and paying the loss from pocket, we don't know but they're getting shittier.

[eternalgloom]

Poloniex used to have such a good reputation, but it seems that nowadays the Polo trollbox is full of people complaining about the lack of service.

Now...Poloniex make be making extraordinary amounts of money, so they could easily fix the problem....but they don't

So the problem must be that they don't care (unlikely)...or something else...what could it be?

They either clearly don't care or they're not doing that great with money. Maybe they're handling money poorly or got silently hacked and paying the loss from pocket, we don't know but they're getting shittier.

Another explanation could be that there has just been a sudden surge of new users and an increase of tickets in the past few weeks and months.
Perhaps they're just having trouble scaling up the capacity of their support.

I doubt that they got hacked, info like that would get out pretty quickly.

[sergsen]

I switched to Bittrex and transferred all funds from Polonix.

[Ayers]

i think this has to do when you get too damn big and make plenty of money, all business work in this way, when they start they all care about their customers, when they become rich they don't care anymore, because your money ain't nothing for them they earn a lot, your complaing will be pointless, and i don't trade there anymore for this reason, bittrex is much better in my opinion, they always respond to ticker or any claim

[dissident]

I've had no problems with poloniex yet so meh.  I only transfer BTC in and out though, I don't transfer out any ALTS.  I'm also careful with every step I take and make sure I transfer when the site is not lagging.

[talkbitcoin]

each time i check coinmarketcap they show a ridiculously big number for 24 hour volume of poloniex. right now it is showing $673,624,254 and this is volume their earning is the fees they take from orders 0.2%+0.15% (maker and taker?) if i am not mistaken and that makes their profit 2.3 million dollar every day

how much do you think a server costs?

and this is just the profit that the public sees. not what they really earn from other things such as investing in altcoins themselves and pumping them.

[gambit1]

I think you answered your own question. They are probably just swamped by massive increases in users. It easy to complain but it must be genuinely difficult.

[alyssa85]

Poloniex used to have such a good reputation, but it seems that nowadays the Polo trollbox is full of people complaining about the lack of service.

Now...Poloniex must  be making extraordinary amounts of money, so they could easily fix the problem....but they don't

So the problem must be that they don't care (unlikely)...or something else...what could it be?

About a month ago they had about 20,000 users on their site, and it's now about 45,000 (see the ticker at the botttom of their website).

I don't think they predicted they'd have double the amount of people online in a month, it's not what anyone would predict. So I think they've been caught by surprise and are scrambling to catch up.

Other exchanges are also suffering, Kraken frequently give connection errors, and bitstamp anounced they have been innundated with new people and it is going to take time for them to get through all the verification steps.

[Febo]

Poloniex used to have such a good reputation, but it seems that nowadays the Polo trollbox is full of people complaining about the lack of service.

Now...Poloniex must  be making extraordinary amounts of money, so they could easily fix the problem....but they don't

So the problem must be that they don't care (unlikely)...or something else...what could it be?

Users currently online: 42215

If you trade this way as you check exchanges I have no ideas why you had not stopped yet.

Poloniex volume doubled in a week and it increased exponential past weeks and months. It is hard to impossible to keep same level of services. I do remembered they were keep employing past months so they were getting reedy for this, but training takes time and right now they need more people and to train them will take more time.

[NorrisK]

Poloniex cannot just simply hire anybody.. Especially non customer support personnel has to be carefully vetted as they can potentially handle large amounts of user funds.

User base exploded, hiring new people takes weeks/months. They will catch up.

There are actually no problems for people that have been using poloniex for a longer time. My withdrawels still clear in minutes and deposits are credited just fine. New users that require verification can be subject to some hiccups though.

[alyssa85]

There are actually no problems for people that have been using poloniex for a longer time. My withdrawels still clear in minutes and deposits are credited just fine. New users that require verification can be subject to some hiccups though.

Same here. I've had my account with them since 2014 and have not experienced any problems depositing or withdrawing.

What I could say to noobs is that you need to build a track record so that their algo recognises you as safe. Don't use VPNs. And don't withdraw large amounts. Withdraw small amounts (say $200 - $300) every day and withdraw to the same address. Once they recognise there isn't a problem (i.e. no one has shouted at them saying, "my coins are stolen"), the algo will then deem your withdrawals to be safe and they'll go through automatically.

[NUFCrichard]

To be fair, they did post about this a few days ago:
https://poloniex.com/press-releases/2017.05.16-Industry-growth-and-its-effect-on-Poloniex/

They say that they are buying new servers and employing new people as fast as they can, but at the current rate of growth, it isn't as easy as you may think to catch up.

As someone before me mentioned, they can't just take anyone on either. They are working with a lot of money, they need to be reasonable tech savvy, and trustworthy.  If they ever read the Troll Box, they need to be thick skinned too!

[John Titor]

The total MC of crypto doubled inside of a month, and Poloniex gets more volume than any other exchange.  Not surprising they are going to see growing pains, they probably had and still 1000's of noobs messaging support because their altcoin withdrawal didn't clear in 10 seconds.

You usually see these kinds of posts in the troll box- "OMG my withdrawal hasn't cleared in 10 minutes I sent 10 support tickets and no response, polo is scam site, I'm calling the cops" 

Every. Damn. Day. 

If I worked in Poloniex support I'd probably want to cut myself right now.

[Seville]

i use polo and trex.. I like both as of now.. but polo has better liquidity

[just_Alice]

Poloniex used to have such a good reputation, but it seems that nowadays the Polo trollbox is full of people complaining about the lack of service.

Now...Poloniex must  be making extraordinary amounts of money, so they could easily fix the problem....but they don't

So the problem must be that they don't care (unlikely)...or something else...what could it be?

Poloniex has 600+ million in trading volume per day these days. I think they should have hired more support staff to avoid the complaints you've mentioned. I'm sure they do care and they will solve this problem in the nearest future.

[Jumanji7]

Poloniex will soon fade away.

Blocknet`s decentralized exchange will replace it because it is more secure and you keep your own coins on your desktop wallet.

[loreRex]

Poloniex will soon fade away.

Blocknet`s decentralized exchange will replace it because it is more secure and you keep your own coins on your desktop wallet.

Hopefully. Poloniex is a nightmare right now, very long withdrawal times.

[btcdiggingmaster]

I think you answered your own question. They are probably just swamped by massive increases in users. It easy to complain but it must be genuinely difficult.

Exactly, they are clearing all sort of issues raised by the people. I hope still Polo is one of the most reputable exchange which paying on time but right they are facing problems with the site. At last, they will come up with a solution which will make people happy.

[thebitcoinkiddo]

I dont see how any of this affects their withdrawal. withdrawals should be automatic and instant. shouldn't have to contact support just to withdraw