This morning I saw I huge spike in the price of SBD on Poloniex.
I had a feeling what probably occurred.
They enabled the wallets again!
I'm expecting a rush as people find out so I sent my SBD back to my Steem wallet for now.
It's not the first time this happened to Poloniex.
The Steem price has corrected a little bit but is still sitting nicely at $2.80.
What I do find problematic is the congestion of the BTC network at the moment. 223712 transaction at the moment and climbing! source
As the most important and well-known crypto and also my personal gateway to go from crypto to Fiat and back it's almost unusable.
The fees are also going through the roof.
I talk about it more in my vlog.
I am a witness with our developer group @blockbrothers for the Steem blockchain. If you want to support us I would appreciate your vote here.
We build Steemify a notification app for your Steemit account for iOS.
Get it Here:
▶️ DTube
▶️ IPFS
You shouldn't need to use BTC as a gateway. Especially now that Poloniex is back, you can use the STEEM/ETH pair and ETH/fiat pairs such as on Kraken and totally avoid BTC issues.
Admittedly Kraken and Poloniex aren't without their own issues...
You are right. I have become so used to using this Dutch company that accepts BTC and sends Euro's that I forgot about Kraken. Been Tier 3 there since forever but have not used it much lately. Thanks, I'm going to give the LTC Kraken route a try.
Problem with using LTC is that there is no LTC/Steem pair on any platform, so you have to go LTC->BTC->Steem and pay more fees. It depends on how much volume it is whether it's worth saving on the transfer. Steem/ETH has low liquidity but not as low as you might expect.
Also Kraken generally sucks recently, but there are other alternatives for ETH/fiat and LTC/fiat in Europe.
I tried both by sending 2x 10 SBD to Blocktrades and sent LTC and ETH to Kraken. ETH was much faster. Sold to euro's and have a SEPA withdrawal pending as a test. Cost 9 cents. Not sure when it will arrive but this is saving me a fortune. Fingers crossed.
Awesome. Another good option is Bittrex(Steem->BTC->BCH)->kraken(EUR). Not as fast as Ether but the cheapest option when moving smaller amounts. On larger amounts it's not worth the extra exchange commission.
I did the calculations. It's saving me around $50-$60 per * x SBD ---> Euro* transaction. Of course, it must arrive first.
I think problems are everywhere a bit. The other day I transfered some Eth from Coinbase to Poloniex. After 3 days ( 3 days in Ethereum network!) of sweat and prayer it finally got there. What a heat I took!
what about steem dollar price today :P
This is correct ETH has many pairs now including the Steem one on Polo. There's some major fiat gateways coming too that will offer direct alt pairs. Also, Coinbase has announced they will be adding more Cryptos and ERC-20 tokens.
Since yesterday coinbase enables BCH, maybe you can use it to get fiat.
Hope not since you are HODL steem.
Good job!
Keep on steemit
I will hold my STEEMpower for a long time. Don't worry :)
They always worry me. Without warning they just stop accepting coins... Never know if it could turn out to be the next Gox...
It's clear that at least 90% of the coins in the current top 100 will be near worthless in 5 years from now. For me, it's about trying to evaluate the projects that actually do something useful and are fully functional already. STEEM is one of the few that is both of those things, and the tokens have a real value and use case
I agree. I think scaling is the biggest issue with most blockchains.
Hi Exyle, the more I watch you video's the more i want to learn about Crypto, are you just self taught or did you do a few courses?
I'm a digital marketer however I've just arrived on Steemit and finding it very exciting. If you can recommend any books or course I'd love to hear from you. Im currently doing a few courses on Steemit but theres not much on the web so its just trial and error to get more upvotes.
However i do love writing content and i have loads of article Ive published on LinkedIn i can use and rehash, for me its all about giving a good service to my followers, when i get them ha ha .
Thank again for the interesting video.
Everything I know about Crypto I know I taught myself. I still learn every day. Google and Steemit will teach you everything you need to know. Learns the basics. Study Bitcoin and the underlying technology (blockchain) first. It will provide a solid base.
why not used bittrex with they never got any probleme
Bittrex have one big issue which was Support Team. they will take many many time to aprove accounts and so late reply.. beside these Bittrex is good .
plus watch and study hours and hours and hours and days and days worth of youtube videos to educate yourself even more. And of course the traditional way of books always works too.
Thanks exyle
ooh god i just asked above from one person about Exyle post and here we meet its great to know more about you and it will be intresting that what will be i learn from you Dear.
Thank you very much for the info
Is that how they make Bitcoins?
Hi
Andreas Antonopoulos' speeches are a great way to get an introduction!
Also his book "The Internet of Money" is a great starter!
If you're into coding or just want to dig deep into how the Blockchain and Bitcoin works I would recommend the book "Mastering Bitcoin".
There's a great documentary on Bitcoin on Netflix called "Banking on Bitcoin", which sums up the history of Bitcoin in a non-technical way.
Hope that helped somehow :)
I love Andreas! I guess everyone that is into the cryptos knows of Andreas Antonopoulos. I especially love his, "Money as a System-of-Control" video. Although I guess he generally touches on most of the same topics, at least somewhat, in most of his talks. If all the world's leaders were as intelligent and caring as AA, most of our problems would be resolved practically overnight!
you are right....
l support you..............
great person
Nice to meet you here hope i learn something from you
I dont think poloneix is safe, so please be cautious while dealing with poloneix and as fat steem is concerned the road is just open and it has to go beyond 10.
Thank you @exyle and have a great day.
Great post! Thank you for this!
right bro
Why Exyle's blog is important: everyone thinks: I can do this too! #Statistics
what is Exyle's blog dear let explain a little
Its ridiculous that Poloniex still is having all these issues with the Steem wallet. This has been going on for a year now. Bittrex has been mostly flawless for me.
It's not good indeed. Glad that for now it's fixed. Bittrex has been ok indeed for a while. But they also had wallet problems in the past. In general, I'm therefor careful with exchanges.
Poloniex Robbed me of 50 steems i was trying to exchange for a friend, sometimes i think their security measures is porous.
Yea i agree @thejohalfiles
Sir i have made a post for you just have a look on my work for you
@thejohalfiles
Oh, yes, my friend, that's great news! I, too, as usual this morning began to check my balance on POLO and WOW, my long-awaited SBD were on balance! After I checked the course and he too was pleased, after which I thought, the day starts EXTREMELY! Thank you @exyle and keep us informed.
People keep complaining about BTC transactions taking a LONG time, and yet, every time I've moved mine from wallet address to wallet address, it doesn't take that long. Not sure why people have BTC transaction problems, but I'm glad I've never had them. As for Steem, I use Bittrex to do my Steem and SBD transactions, would love to see Binance list it to make Steem go the moon!
How much fee do you pay if I may ask?
I need your help my dear friend . Yesterday I was creating a post and I Wanted to put a short video in but I try to connect Dtube first time but it can’t open with my steemit username and password . How can I log in can you help? By the way thanks for informing us nice video !
You need to log in with your private posting key. Wallet ---> permissions.
Ow, thanks my dear friend . I can upload mu videos to Dtube not YouTube thank you !
Hey dear friend, I have one more question is dtube has application ? And are sharings in dtube being show in steemit automatically? Thanks for help
yes, when you post to dtube it will be also on your Steemit blog straight away.
Thanks for your help . You deserve better places man .
That's wonderful news. I'm glad that you were able to get your SBD back in your wallet again. I wouldn't worry too much about the Steem price. It will just take a little bit more effort for it to push past its' all time high.
First of all glad to know that Poloniex has finally removed the disabled button and not giving excuse this time about the transfers ...
Secondly i just saw the unconfirmed transactions on blockchain.info and its growing rapidly it makes me wonder what's gonna happen with such speed.. the current downfall in the prices i guess is due to this problem
and lastly the transaction is so high that people like me can't even think to do a transaction its like almost losing you money
Great vlog with lots of interesting updates i love to follow your vlogs daily thanks for making them
Thank you!
Wow..so many unconfirmed transactions on bitcoin. It looks like bitcoin cash could soon dethrone bitcoin as the number one crypto. As soon as coinbase added it yesterday its price has shot up to over 3k, meanwhile bitcoin dropped to 16K. Really interesting times ahead :)
As far as I know steem-fiat pairing is in the works, and that would make life a whole lot easier and also open the flood gates.
Now that would a dream.
That would make steem so much easier to grab and really help with mass adoption! Fiat would then get that so much wanted inflation to it haahaa!
i just went quickly to the poloniex to take out my sbd pheww i made it quickly damm thanks a lot for this update its like a life saver update
otherwise it would have remained their forever :D
Good day man
Did you see the price of SBDs doubled at Poloniex overnight after the re-enable?
Have a good Christmas, i have a feeling there will be a huge turkey on the table at your place this year! :)
Yes, I saw! You have a good Christmas too. No turkey. Pork and beef :)
It is very frustrating sometimes to only be able to use BTC to convert into Fiat. The fees are outrageous!!!!
Fees are out of this world at the moment indeed.
Didn't do much transactions from BTC to fiat since I started so didn't feel it yet.. but I guess it's frustrating when you want to do some quick transactions and you are used to STEEM, haha.. Is there no other way in holland to go to fiat.. from eth wallet or the GULDEN app
I use bitonic most of the time. Always works perfect but they only accept BTC.
@exyle,
I don't think STEEM price is corrected, if it's corrected then it might be at around $10 :D That's how I feel about it!
After all those dramas of Polo, finally I decided to use Bittrex and I think it's a worthy solution! Great article friend!
Cheers~
Steem should be listed on more exchanges ...
Why is this not happend so far? Any idea any one?
The fees for bitcoin transactions are getting outrageous of recent and it is making bitcoin seem useless and lack potential in my opinion.
I don't know if I'm the only one who's noticed but bitcoin transactions are getting slower by the day unlike steem and sbd which are superfast.
Though steem and sbd are not major cryptocurrencies yet but it's great to have them as alternatives especially with the current increase in the price of sbd and the constant growth of the steem blockchain
almost 24k and counting now waiting for confirmation haha wow! hope they get it together soon lol & thanks for sharing your thoughts on it with us
Learning about crypto is the new golden opportunity.
I have a feeling crypto will change things even more than the Internet did. Now, I didn't jump on the Internet breakthrough in time as I was just a Teen, but I'm ready now.
Beam me up Crypto!
When the internet came in my house I was around 12-13. I loved being a Pioneer on it. I made good friends back then that shared the same joy for it and I still talk to them today! Now I'm doing this again with crypto. It's a privilege.
Lucky you man, well keep on trailblazing! This time I'm going along for the ride :D
I always find Poloniex not working. Bittrex has less issues but still people are always concerned about Poloniex. Is there any differentiating character between these two exchanges??
I consider every exchange to be something you should have a healthy dose of suspicion about. On an exchange you don't owe your crypto.
Finally they fixed it. To bad I wasn't fast enough to buy some cheap SBD there :/
If you want to take that gamble you should always buy when it's broken.
These PoW scaling issues, like imbalance between fee and transaction amount, mitigated to some extent like in BCH and Litecoin, but still ultimately capped on some theortical PoW ceiling, PoS has higher ceiling on scale
The congestion of BTC transactions is being a big problem: that's why people are moving to other crypto, that are generally faster than BTC, ETH over all.
STEEM is way faster than ETH.
Of course!
Very good points, @exyle. You helped me just stating what you're going through. I am as well with attempts to convert some BTC to fiat have been abruptly halted at exchanges. This is something that has to be cleaned up or it will have serious ramifications for cryptocurrencies. I think we'll find a solution and platforms like Bitshares and Steemit (thank you Dan Larimer!) will go even higher.
Thank you for continuing to give such great info! Keep up the good work!
Poloniex disable steem wallet to avoid arbitrage trading. Now they enable the wallet because the price is spike and people unable to do arbitrage anymore. But a lot of people thought that during the disable period, they do insider trading for theirown.
Great news!!!
Glad to see Steem working again on poloniex and sad to see BTC pending transactions and high fees, i hope everything will be corrected soon.
With the increase in the valiue of steem it have stop transaction always
Poloniex has been holding my 2700 steem hostage for almost a month now. i tried to withdraw it to here and i had a complete with error and i have put in over 10 tickets and i'm just numb from their nonchalantness in this issue.
I love your videos and you made me believe in steem more. Continue doing the vlogs they are very informative.
@exyle I actually had a little bit of Bitcoin that I traded into more Litecoin because I actually think I can get a better return percentage wise right now with the LITE's since I don't know for sure what may happen between BTC and BCH.
That Right @stokjockey. I agree with you. But the account confirmation process on poloniex is very hard for me. @exyle please give me suggestion.
Great you got $22 within 2 min... congrats.
I have not make any transaction with poloniex before but I do hear about them. I'll say Its nice hearing good information about them.
Thanks for sharing at @exyle
Thanks for the video. I think the best bet right now is to hold steem. I think the network capacity will definitely weed out the bad projects and everyone will transition to the good projects like steem.
Nice post 👍 Thanks for sharing and and very useful information and good job. Congratulations✌ @exyle
BTC is a dinosaur with its ridiculous fees, should hardly be worth the price its fetching for and won't be #1 market cap in the following year. Who wants to use something that costs 10x in fees for transferring a relatively small amount?
Nobody. Only fools.
I also posted about the intrinsic BTC value today and why it should decline in price, utilization is 100% and by the time I posted it had 174K pending transactions. I fear a massive sell when people realize their money is stuck and even worse if one or two major exchanges have to fill bankruptcy when faced with the massive Fiat demand!!! Beware and remember to HODL your alt-coins and change your BTC while you can.
maybe for polo enabled the mostly people transtacion make from steem to other coins and there for the steem decrees today @exyle polo behaviour is not believable for me when we need some transactions it mostly dont work in fastly and i dont like this type of polo exchange specially for trade
Yes , I would actually advice traders to withdraw their steem from poloniex because no one knows what's next and the reasons they activated the transactions back on.
The number of unconfirmed transactions is ugly. Maybe I'm spoiled by steem, but this stuff should be instant. Widespread Bitcoin adoption will never happen if transactions take a week
i hold and trade my crypto for long time!!!
no return to FIAT money
I got screwed hard by that bitcoin cash. Bought at $6000. Just my luck. Thank god it was only a fraction. It going to be a sad Christmas for me.
Fuck my life.....
@exyle I see Steem's price touching 20 USD by the end of 2018. Next year will be the altcoins' year! Masses are joining in!
its great to know Poloniex and steem love story begins again hahah