Post
Topic
Board Altcoin Discussion
Re: WHOOPS>>.. POLO random new delistings causing flash crash - irresponsible
by
cryptohunter
on 19/12/2016, 12:11:27 UTC
Without a warning is bad though

this is the waring.

On January 4th 2017, the following markets will be delisted: MMNXT, BITCNY, NBT, DIEM, LTBC, RDD, XST, XCN, XDN, SYNC, CGA, GEO, BLOCK, 1CRPosted by MobyDick at 2016-12-19 04:33:10

or should they warn some VIP traders before this? or even they did this. who knows.

Exactly I mean how would you know? this is the issue when one exchange holds so much power in the alt community.

It is open to gross manipulation.

I like polo but I feel the warnings Bittrex give are far fairer to traders. They give their communities time to pump up volume and their devs time to make communication and answer concerns bittrex may have about the security of the wallets.

It's simply not good to have one exchange having so much power over the fate of alts.

I like polo but we need a few exchanges that have similar volume or some decentralised exchanges that have an experience close to centralised ones (if that is even possible)

Some people that were wiped out in this will likely not be putting more fiat into their day trading games they were enjoying. Imagine if your portfolio had a few of these delistings in. Scary. Could be down 80%+ just because they are not longer to be traded on polo. The fact they may still be traded on other exchanges is of no import it would seem. Most people are down when trading eventually that's just how it goes but to be wiped out in one night is kind of harsh.

I'm not saying polo are essentially in the wrong, they may need to take these actions to protect themselves and their other customers... but the entire alt exchange system needs to be more distributed. One huge exchange and the rest dealing in crumbs is not healthy. It is open to manipulation for sure.