I've been trading on Poloniex, Bitfinex and Kraken for nearly 2 years. Poloniex used to be the best, even though it has always raised questions. Nobody knew who was the owner. The service was good. The guys obviously had experience in trading, but you couldn't help wondering about who was behind. Could that mysterious owner someday disappear with all the funds?
An answer has finally been given, but it isn't the one I was expecting since the original owner, Poloniex's creator, has sold its baby to a financial services company called Circle. Hmm, as an early Bitcoin fan, I'm sharing views with some anarchists who want to destroy the banking system. I agree banks are a necessity to help people getting loans so that they can buy houses, or whatever's worth several years of their income, but besides that, bankers aren't nice people.
Bitcoin was invented to deliver a better service than bankers could, and at a smaller cost. Those new Poloniex's owners, I'm afraid they will raise all fees. The wrong thing currently on Poloniex are bots, and the big guys who can push any crypto up or down because of their huge firepower. They're whales against the small guys. I'm afraid it will only get worse with Circle. I hope someone can prove me wrong...
This is huge news, and you are right to be skeptical of a big bank takeover. One positive that may arise from this at least, is that maybe we'll get better customer service. I've been waiting for them to reply to issues I've had open for months!
Well, I never had an issue with Poloniex so far. Their trading website is really good. My only troubles were when I made the wrong choices, buying an altcoin which I thought would be going up, but didn't...
Hope your issues will be solved!
Hi, great post, worth a follow. Looking forward to some more of your stuff.