[2017-11-25]Bittrex Issue New Trading Policy

[SlipMart]

Bittrex one of the largest altcoin trading exchange has announced its new trading policy.This announcement comes hours after it witness a DDOS attack on it software.The tweets from bittrex @bittrexexchange comfirmed that attack.

What Is DDOS Attack?

A Distributed Denial of Service (DDoS) attack is an attempt to make an online service unavailable by overwhelming it with traffic from multiple sources. They target a wide variety of important resources, from banks to news websites, and present a major challenge to making sure people can publish and access important information.

Removing stale orders:

Effective today, Bittrex will be removing orders that are older than 28 days. As we’ve communicated in the past, many of these orders have no reasonable expectation of being filled and clog the order books.

Continue Reading >>https://bitzamp.com/bittrex-issue-new-trading-policy-traders/

[aso118]

I am not sure if removing stale orders is right. I might have a limit, say $15000 at which I would sell all my bitcoins. I can keep this as an open order on the exchange. My view is not going to change in 28 days.

[SlipMart]

28days is enough ...They only people that this policy will affect are pump and dump groups that prepumps before telling their followers to buy

[bbc.reporter]

Maybe limit orders made outside a cryptocon's price range should be limited to 28 days, but if they are within its price range, then I reckon they should be given unlimited time to execute.

Limit orders are good for liquidity and they should always be encouraged.

[CryptoBry]

Bittrex one of the largest altcoin trading exchange has announced its new trading policy.This announcement comes hours after it witness a DDOS attack on it software.The tweets from bittrex @bittrexexchange comfirmed that attack.

What Is DDOS Attack? A Distributed Denial of Service (DDoS) attack is an attempt to make an online service unavailable by overwhelming it with traffic from multiple sources. They target a wide variety of important resources, from banks to news websites, and present a major challenge to making sure people can publish and access important information.

Removing stale orders: Effective today, Bittrex will be removing orders that are older than 28 days. As we’ve communicated in the past, many of these orders have no reasonable expectation of being filled and clog the order books.

Continue Reading >>https://bitzamp.com/bittrex-issue-new-trading-policy-traders/

Bittrex is on the top of my list for the most trusted Bitcoin and altcoin exchanges. This is a good exchange which is quite newbie-friendly and though in the past month or so there had been complaints of frozen accounts I know why they did that...it is all about compliance and those who are not stepping into the line would really be removed otherwise the whole exchange would suffer since they are based in USA. I am one of the many who believe that Bittrex is managed by a group of people whose main interests always include their members and clients. I have no problem with this new policy especially if it can enhanced the overall experience of the site and can make it more secured in the long run.

[Xynerise]

The policy is a welcome one, especially the ban of pump groups accounts.
But how will they know which accounts belong to pump groups?
There are tools used to detect increase in volume of coins like Cryptgany so you can catch pumps.
What if they ban plenty of innocent accounts that use these tools?

[Theb]

A really bad move for the cryptocurrency exchange doing that GTW, GTM, GTY (Good this Week, Month, Year) are really essential features needed by a position trader, simply removing it because of clogging up the order books seems to be unreasonable. It would be a set back for them as traders who don't want to be active in trading needs to have this features. But good thing that orders set 28 days and below are still on the table, they need to find another solution for DDOS attacks.

[richardsNY]

I am not sure if removing stale orders is right. I might have a limit, say $15000 at which I would sell all my bitcoins. I can keep this as an open order on the exchange. My view is not going to change in 28 days.

Basically that. People leave their orders open for a reason, and an exchange interfering with how we trade is just not acceptable. There must be a reason behind all these nonsensical actions, and their reasoning for why they did it doesn't seem to enjoy much appreciation from the public. Basically every tweet they push into the net gets bombed with desperate people asking why it takes so long before they get a response. It's quite a bitter pill to swallow for people seeing that Bittrex has enough time to tweak its platform, but severely lacks time to solve people's urgent support queries. Every day that people's funds are stuck is one too many, and especially in current bullish market.

[MoonJeina]

Bittrex one of the largest altcoin trading exchange has announced its new trading policy.This announcement comes hours after it witness a DDOS attack on it software.The tweets from bittrex @bittrexexchange comfirmed that attack.

What Is DDOS Attack?



A Distributed Denial of Service (DDoS) attack is an attempt to make an online service unavailable by overwhelming it with traffic from multiple sources. They target a wide variety of important resources, from banks to news websites, and present a major challenge to making sure people can publish and access important information.

Removing stale orders:

Effective today, Bittrex will be removing orders that are older than 28 days. As we’ve communicated in the past, many of these orders have no reasonable expectation of being filled and clog the order books.

Continue Reading >>https://bitzamp.com/bittrex-issue-new-trading-policy-traders/

This is not a good way out to the problem . DDOS are definitely a problem of huge concern but the new policy is going to affect a lot of traders . Some times it may take a long time to for the offer to get accepted . Moreover if the trading cost is big one , it gets more difficult to get some interested participants . I've read in the article that they are also  "Raising the minimum trade size "  , this might anger so many traders and investors . They literally raised it from $10,000 to $500,000 . This is a huge raising of the limit and might affect small traders  . They just need to take that policy back or amend it . It is way too biased towards small traders and investors .       

[RedX]

28 days is too short. They are putting an inconvenience for their customers. First is the verification policy and now this. I would not be suprised if people will consider going to another exchange like Cryptopia and Coinexchange. Bittrex was the perfect exchange for me but now their only edge is high volumes.

[veleten]

28days is enough ...They only people that this policy will affect are pump and dump groups that prepumps before telling their followers to buy

no 28 days is not enough,it is an inconvenience to a trader
and how this will affect the pump and dump groups?
I'm sure they will find a way to circumvent the policies
but now your legit account can be restricted because of the suspicion that it belongs to a pump and dump group
this change is in no way favourable to a regular trader

[yndye]

28days is enough ...They only people that this policy will affect are pump and dump groups that prepumps before telling their followers to buy

no 28 days is not enough,it is an inconvenience to a trader
and how this will affect the pump and dump groups?
I'm sure they will find a way to circumvent the policies
but now your legit account can be restricted because of the suspicion that it belongs to a pump and dump group
this change is in no way favourable to a regular trader

It is not favorable to the regular traders who are just buying in time when a pump and dump group decides to buy the same coin and he will be included in the suspicion of being part of it. Additionally, 28 days is not enough to hold the coins and I think they just want the traders to trade more and not hold their coin for so long so that they can collect more fees. I can see some people already shifting their funds to other exchanges because of this and due to the recent issues as well of restricting accounts without justifiable reason and poor customer service.