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Author Topic: Do you think guys Poloniex will be the next MT.Gox?  (Read 1003 times)
bitcoinstress
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June 28, 2017, 10:14:12 AM
 #21

I don't know about mtgox but i know poloniex is the trusted one of the exchange site if your account get hacked by other. you should recover it by contacting their support.

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June 28, 2017, 12:41:50 PM
 #22

Ok, yes, it's good to use 2fa, but that doesn't answer the original, legitimate, question: will poloniex be the next mtgox? So far no one has given any reasons why or why not.

1. they must have billions of dollars worth of crypto in users' accounts. there is a financial incentive for them to abscond with some of it.
2. no one seems to know any of the management at poloniex. without having a reputation in the community, I find it hard to see how they can be trustworthy.
3. it is located in the US but they haven't registered with US govt/financial agencies like coinbase and others have.
4. they eliminated the trollbox. if something bad was going to happen, it makes sense to turn off communication beforehand.

I am not that familiar with mtgox: what were the warning signs before it collapsed? right now a lot of people are complaining about not being able to withdraw funds from poloniex, even waiting more than a month. I recall this being the case at mtgox as well, problems with withdrawal. anyone can make up a balance sheet showing lots of funds, but you can't know if it's there until you try to withdraw it. 
1. The accumulated millions of sollars worth of cryptos as pretty much every other big bitcoin/altcoin exchange.
Just remember that in this business there is no guarantee, the biggests exchange can fall.
2. Another argument to not fully trust them, but even if the management and CEO is known there is no guarantee that exchange is legit.
I mean - everyone knows who Mark Karpeles is.
3. That does't not concerm net. Busiensses tend to avoid unnecessary burden of additional paperwork or regulations.
4. Maybe they eliminated trollbox just because it became a tube for hardcore trolls and nothing more?


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ulhaq
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June 28, 2017, 08:13:45 PM
 #23

The only complaints I have seen about not being able to withdraw from Polo are usually issues with the coin (wallet/network/dev team), not with the exchange. I haven't had issues withdrawing BTC at all over the last couple years.


I'm not referring to the last couple years, all the complaints exploded over the last couple months. But it could be explained by increased volume. We have to see if there continues to be problems with withdrawals over the next few months.
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June 28, 2017, 08:19:10 PM
 #24


2. Another argument to not fully trust them, but even if the management and CEO is known there is no guarantee that exchange is legit.
I mean - everyone knows who Mark Karpeles is.


I don't mean knowing who someone is, I mean there being people who can vouch for their integrity. Look at the person who started Tether. There was a shady past, no one is going to come forward and vouch for him. But if trusted ppl in the crypto community would vouch for the integrity of ppl at an exchange (which can only happen through being personally known), then it would go a long way to establishing legitimacy.
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June 29, 2017, 05:12:14 AM
 #25

The only complaints I have seen about not being able to withdraw from Polo are usually issues with the coin (wallet/network/dev team), not with the exchange. I haven't had issues withdrawing BTC at all over the last couple years.


I'm not referring to the last couple years, all the complaints exploded over the last couple months. But it could be explained by increased volume. We have to see if there continues to be problems with withdrawals over the next few months.

I've heard of zero complaints about them from anyone that is reputable. The only real issues I've heard of are slow verification processes, but nothing shady.

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June 29, 2017, 08:14:54 AM
 #26

The only complaints I have seen about not being able to withdraw from Polo are usually issues with the coin (wallet/network/dev team), not with the exchange. I haven't had issues withdrawing BTC at all over the last couple years.


I'm not referring to the last couple years, all the complaints exploded over the last couple months. But it could be explained by increased volume. We have to see if there continues to be problems with withdrawals over the next few months.

I've heard of zero complaints about them from anyone that is reputable. The only real issues I've heard of are slow verification processes, but nothing shady.

This. Some users have gotten so used to the fast withdrawal times in the past, and now that Poloniex have become a lot stricter in their withdrawal process those people are now trying to create a scene that Poloniex is freezing their withdrawals indefinitely.

I dont know if its true but some say that verified accounts' withdrawals are processed faster. Can anyone confirm this?
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