First it was Coinbase, now its Poloniex - unexpected downtime during BTC upswing

[cryptomaniac_xxx]

https://twitter.com/PoloSupport/status/1329884962544345090

Poloniex also went down the price of bitcoin is rising and almost touch $19k, Lol, I can only hope that other exchanges should be well prepared of the up surge trading volumes as we are almost nearing the previous all time high and could exceed $20k this month.

[ranochigo]

Um Coinbase is nearly always down during the period where Bitcoin rises, which is quite annoying to say the least.

If you're putting your coins in the exchange, then you'll have to hope that the exchange doesn't experience any downtime during the most crucial period. Or, you can be like me and keep my funds offsite and use whichever exchange that doesn't go down .

[mk4]

Coinbase has been notoriously known for going down after significant price rises, that it's pretty much a meme in crypto Twitter lol. Though it makes complete sense due to the spikes up in traffic, it's still mind boggling how an exchange as big as Coinbase still doesn't get their crap ready LOL.

[btc_angela]

Coinbase has been notoriously known for going down after significant price rises, that it's pretty much a meme in crypto Twitter lol. Though it makes complete sense due to the spikes up in traffic, it's still mind boggling how an exchange as big as Coinbase still doesn't get their crap ready LOL.

Exactly. As for Polo, this is the first time right? so we can't really compare them to Coinbase which has a history already. Polo should learn from their mistakes here so as not to be synonymously with downtimes and whatnot during bitcoin spikes. They don't want to have the title taken away from Coinbase wouldn't it? 

[mk4]

Exactly. As for Polo, this is the first time right? so we can't really compare them to Coinbase which has a history already. Polo should learn from their mistakes here so as not to be synonymously with downtimes and whatnot during bitcoin spikes. They don't want to have the title taken away from Coinbase wouldn't it? 

Not really. There just has been one instance like 7 months ago: https://cointelegraph.com/news/mysterious-poloniex-downtime-prompts-community-frustration

And a few more times in the previous years.

[20kevin20]

Seems more like it's a move of theirs towards a specific goal rather than a problem with their servers. When you have one of the top exchanges in the world, you can't make these kind of excuses. It's not like you've never had the issue before, and it's not like it'd cost you a fortune to prepare for even larger surges of users/txs..

Usually when large exchanges suddenly go down, it causes a little panic hence the price of Bitcoin not being allowed to push even more upwards. Doesn't look like an unexpected thing to me, so it should be just a little strat of Armstrong's.

[lebregone]

I guess they didn't expect the traffic in their exchange or they experience some technical problems but it will be good if they can provide a little information about the unexpected issue that they are facing so their users can easily understand why they are unavailable.

I am not so sure if BTC upswing is the main reason why those two are having an unexpected downtime but if they are not releasing any information to what happen in their side then what we can do is to guess only about the reason behind their downtime. Let's just hope that they will return as soon as possible so the traders in their platform will not be left behind.

[Yaunfitda]

I guess they didn't expect the traffic in their exchange or they experience some technical problems but it will be good if they can provide a little information about the unexpected issue that they are facing so their users can easily understand why they are unavailable.

I doubt that is the change with Poloniex, they should expect hight traffic regardless if we are in a bull or bear cycle, that what a good exchanges should be.

I am not so sure if BTC upswing is the main reason why those two are having an unexpected downtime but if they are not releasing any information to what happen in their side then what we can do is to guess only about the reason behind their downtime. Let's just hope that they will return as soon as possible so the traders in their platform will not be left behind.

Coincidence? Be my guess, of course they come back after a brief moment, but those precious times spells the difference for most traders to make or squeeze some money or loss some, so it's very important.

[tbct_mt2]

It brought bad memory back when my orders were killed on Poloniex from their service lags or shady operations in 2017. Could not log in and about 15 or 30 minutes later, logged in to see balance went away.

Lesson learnt from that: Bitcoin is close to all time high and if price fails to break the cap at $20k and exchange lags appear, your margin orders will be liquidated (in worst situation). 

[sunsilk]

They will never change. Every time the market goes on the rise, they'll always have an unexpected downtime or maintenance. Coinbase, Poloniex, and other exchange that will receive overwhelming activeness of their registered users.

Things have been calmed again and they'll turn back to normal. I think they are not always prepared whenever there's a surge that we're experiencing.

[Strongkored]

This is not the first time for Poloniex as mentioned in previous replies, 2017 has happened and it happened several times in a few days 2-3 days can't remember exactly and this is very stressful and a nightmare for me there.

[khaled0111]

Not sure if all of this was due to lack of professionalism or there is something shady going on here. Although, am not a conspiracy theorist, I find it hard to believe it was caused by high traffic.
Coinbase is the second biggest exchange and poloniex is the 12th, how didn't they expect such a rise in traffic and why they didn't get ready for it (knowing this is not the first time this has happened) and who is going to compensate traders for the losses they suffered during this downtimes?

[cryptoboss2020]

not good at all !!

where is the laws when we need them ? where is the police and goverment protecting us when we need them?
lol...

[Dave1]

Not sure if all of this was due to lack of professionalism or there is something shady going on here. Although, am not a conspiracy theorist, I find it hard to believe it was caused by high traffic.
Coinbase is the second biggest exchange and poloniex is the 12th, how didn't they expect such a rise in traffic and why they didn't get ready for it (knowing this is not the first time this has happened) and who is going to compensate traders for the losses they suffered during this downtimes?

No one is going to be compensated during unexpected downtimes, the traders themselves will suffer the consequences, just the nature of business of this exchanges. Accept it or move to other so called reliable exchanges you think of. For conspiracist, this could be intentional on part of Poloniex.

Anyways, the big question is:

[1] Should exchanges held liable for this unexpected downtimes during bitcoin spikes?
[2] How about cloud hosting providers, if they are the causes of this downtimes, should they be also liable?
[3] If exchanges are then liable? how can traders be compensated?

[cryptoboss2020]

Not sure if all of this was due to lack of professionalism or there is something shady going on here. Although, am not a conspiracy theorist, I find it hard to believe it was caused by high traffic.
Coinbase is the second biggest exchange and poloniex is the 12th, how didn't they expect such a rise in traffic and why they didn't get ready for it (knowing this is not the first time this has happened) and who is going to compensate traders for the losses they suffered during this downtimes?

No one is going to be compensated during unexpected downtimes, the traders themselves will suffer the consequences, just the nature of business of this exchanges. Accept it or move to other so called reliable exchanges you think of. For conspiracist, this could be intentional on part of Poloniex.

Anyways, the big question is:

[1] Should exchanges held liable for this unexpected downtimes during bitcoin spikes?
[2] How about cloud hosting providers, if they are the causes of this downtimes, should they be also liable?
[3] If exchanges are then liable? how can traders be compensated?

dream on men dream on ..... if you are average joe the world will fck you up big time !!