still feel dull, took me some times to process the somehow bad news. atm i really dont know how it will play out in the future, some people definitiley left polo. maybe they will return if it stays the only liquid market, but for now i dont think so. even if this has nothing to do directly with xmr at all, yesterday was one of those rare nights i turned my node off after all my transfers finished.
i was very bullish the past few weeks, but now my sentiment somehow turned due to this. i feel cheated by poloniex. not becasue they implemented those rules, but becasue of how fast they did it and how they communicated it. the capital flight out of polo was sure enormous and is not yet finished it seems. people clearly prefer btc to withdrawl. maybe the people joining becasue of margin trading will compensate it, maybe not.
and no, i am not a botnet owner.
I don't know why this impacted your decision to turn off your node?
Polo is a U.S. exchange, they need to comply with U.S. law. It sucks that it happened so quickly, but I'd rather there be an exchange than none at all. I believe decentralized exchanges are coming, and when they do so people will be able to trade freely and anonymously.
Poloniex changing their rules certainly makes our short term direction cloudy, but if you check, there are a lot less sells than buys.
I think what he's saying is that Poloniex has been a great supporter of the Monero community. By implementing their policy change with an obnoxious and customer-hostile two-day notices (where people who happen not to be online every day are not forced to give up their information or have their coins stolen) they just told the Monero community go fuck ourselves. Without even so much as an explanation other than "Hey guys, good news, you can trade on margin and pay more commissions now!"
Compliance is perfectly fine, and to be expected. Giving your biggest customer base the finger with a two-day notice is not.
And I told them that when they contacted me to try to smooth things over.
Fuck you Poloniex. You screwed up here.
You are right that they are cocksuckers due to the timeline they gave, but asides from that I don't think the direction they are going is bad. They aren't asking for much info for level 1 verification, data that could be easily fabricated. I agree that they messed up and that the two-days deadline was a really big 'fuck you' to their customers.
Once a cocksucker, always a cocksucker.
Such short notice shows either:
- a lack of professionalism (in which case you should lower your trust-levels towards them) or
- them trying to pull it through rather fast and inconspicuously, likely weathering how fast they could do it without pissing of people completely (in which case their whole attitude should be questioned and your trust towards them should be adjusted)
What it doesn't show is any trying in protecting customer data (for whomever is snooping).
The case can be made though that it is only traders who trade on there, and as such they log in every day. Otherwise you shouldn't have a balance on there. That point is irrelevant in my opinion.
Realise though that they likely have a gun pointed at their heads. It is either KYC/AML or die. That doesn't excuse the very short implementation time, especially when withdrawals have been an issue for many people. But plenty of other people have had guns pointed to their heads and have acted better.
You should not give fake data to them either, because a) You (likely) breach your contract with them, b) those who would want to track you can track you anyway, likely and c) if you can not provide ID to support that data later one when they will require more (and ohh.. they will require more in the future, don't doubt that for one average monero transaction confirmation..) your funds will be confiscated.
In particular we should be opposed because 3'rd parties with subpar security shouldn't handle our personal data.