Post
Topic
Board Announcements (Altcoins)
Re: Gridcoin (GRC) - first coin utilizing BOINC - Official Thread
by
Gridcoin
on 23/04/2015, 22:39:21 UTC
Your coins aren't worthless, Poloniex still has them and they can still be burned.  We have no control over how Poloniex conducts it's business or what it announces.  They were contacted multiple times between September (before the process started) and the April  20th deadline and were aware of the changes.  It was their choice as to what action they took with that information.

I have been in contact with Poloniex attempting to help them with the transition and the conversion pool is still active and able to burn coins for conversion, a few of us are still supporting the classic chain with hashes just so Polo can burn their remaining coins.

While I understand your frustration that you can't access your coins at this time, I assure you we are working with them to help resolve this even though the deadline has passed. We want nothing more than for everyone who wants their coins to be converted to have them converted.  It is my hope they will have this resolved in the next 24-48 hours and you will be able to either withdraw your coins as research coins and trade them on another exchange or if Poloniex chooses to open a Gridcoin-Research market buy & sell GRC on Poloniex once again.



So that is approximately 1.28 mil classic coins that have not been burned.

So at least $10,000 to $20,000 worth of coins, if your numbers are correct.



Quote
The conversion from Gridcoin Classic to Gridcoin POR was announced in October of 2014

Announced where?  Not on Poloniex where people were buying it.  Between October and March, GRCX consistently traded for over 3000 satoshis, going almost to 6000 in November, and then over 9000 in March.  On April 20, the last day of the swap, it was still trading for 4400 before it was delisted with no notice.  All of those people buying and selling on April 20 were unaware of the swap.

If those people buying and selling on Poloniex had happened to check this topic on April 20th, what would they have seen?  Any news about the swap?  I see 4 posts from you on April 20th, and not a single word about all those coins becoming worthless:

https://bitcointalk.org/index.php?topic=324118.4180

Maybe the big reddit thread from the same day?

http://www.reddit.com/r/Futurology/comments/335ff1/the_currency_of_the_future_inherently_supports/?sort=new

No, nothing about a swap.