I was just checking the website of Talkcoin (which looks alright but there's a lot of information that really should be added, like on which exchanges the coin is traded). I noticed this picture:

http://talkcoin.org/img/illustration-blockchain.png

That's not a very good representation of a blockchain Because this picture shows a lot of forks, and if there's anything you don't want on a blockchain.. it's forks. So this doesn't really symbolize reliability. It's obviously not a big deal, but perhaps you can change it for something better.

I disagree. There's still a big lack of transparency on their website - you really have to search for information before you find it. Moreover, not responding to support requests (as well as the numerous other ways of reaching out to them).. there's no excuse for that. I understand it happens, but the only logical course of action is that they take the fall for their mistakes, rather than leaving the problem with people who have no control over the situation at all (e.g. everyone who holds GRC at Poloniex). I have simply suggested they would return the BTC that I paid for the GRC coins, and they refuse that too. In other words: while they (now) admit they screwed up, they are not doing anything to let it be their problem rather than making their problem my problem.


It certainly does everybody some good, because before I started doing that, they were completely ignoring everything. I've given them plenty of chances to rectify the mess before I took anything public (I waited a whole week after opening tickets, sending messages on IRC, Twitter, etc - which all went ignored). It has already accomplished that they at least confirmed that they messed this up. But I simply will not stop there, because I'm not going to accept that I'm ending up taking the fall for their mistakes.

If you go to a restaurant (let's say you paid upfront for whatever reason) and they serve you uncooked food, you complain about it, and they respond "sorry, one of our suppliers has a problem and because of that we don't have any gas to cook on", then that would be kinda weird to begin with. You'd expect them to put a note at the entrance or that they inform you when you enter. If they neglect to do so and you complain about getting uncooked food, and they simply ignore you, then that gets even weirder. But if they then finally address your complaint, but still refuse to give you your money back, then the restaurant owner really is way out of line. It would make no sense whatsoever that the restaurant owner would make his problem a problem of his clients.

This situation with Poloniex is no different. They neglected to address my complaints before I took it public. Subsequently they admit they messed up, but refuse to return funds and just let me wait endlessly (which results in a loss for me even if I eventually get access to my GRC coins, since the value has dropped considerably during the time when my funds were inaccessible). In other words: they are making their problem, my problem. And I'm not going to sit here quietly until they fix it.

Additionally, another reason I'm not going to shut up about it, is because I consider it a responsibility to warn others about these practices. In my opinion no exchange should have the illusion that they can just hold funds just because they have a technical problem. There is no way anyone can even verify why a market is frozen (let alone for almost 2 weeks.. a lifetime in crypto), and what this situation essentially comes down to is that they can lock anyone out of their funds for an unspecified period of time for any reason at all. This situation, should be considered a risk of the exchange (considering they are in control), rather than a risk of a customer of the exchange. In my view it is completely unacceptable when ANY business defers an operational risk (like this current situation) to their clients, rather than taking the responsibility of carrying this risk themselves. I have also discussed this matter with several other large altcoin exchanges, and they completely agreed with my point of view (in terms of.. if they would end up in this situation, they would return the BTC that was paid for the coins (if that's what the user wants) rather than letting the user wait until they fixed their problem).

Therefore, unless and until Poloniex changes this policy of letting customers take the fall for the exchange's problems, I will simply be warning others about these practices, as I consider it a malicious way of conducting their business. When you send coins to Poloniex, you literally risk getting locked out of your funds if THEY mess up. Now, if they would be having issues with insolvency as a result of getting hacked or something like that, then it would be much more understandable that they can't take immediate action to help me solve the problems of their users. But in this situation, when they can but won't make it their own problem, that's unacceptable. In my opinion nobody should trust their funds with any party that won't take the fall for their mistakes.

Are you kidding me? They did not release *any* information about why the market was frozen, for more than a week. They also did not respond to any of my support tickets for more than a week. And you think they're doing "good work"? What a joke.

Yet another follow-up:

12 days and counting. Still frozen.

I did finally get a response to my support ticket (after almost a week). And it's the most pathetic response I've ever seen:


1. "there is no need to worry about the safety of your coin just because a market is frozen"
What the hell? You lock me out of my fund for 12 days and I do not need to worry? Obviously I do need to worry, because you are clearly very incompetent.

2. It's not even only about the safety of my coins. It's not like Poloniex is the only market that trades this coin. In the meanwhile, trading continues on other markets while I'm not able to touch my funds at all, FOR TWELVE DAYS (which is a lifetime in crypto)

3. When the market resumes, transactions might go through on their own, or you might have to ask for assistance
"When the market resumes, it might work, or it might not". Really? Yeah I surely could not have figured that one out myself.

This is so utterly ridiculous that I'm having trouble finding the right words for it. Unprofessional and incompetent don't quite cut it.

12 days and counting. Still frozen.

I did finally get a response to my support ticket (after almost a week). And it's the most pathetic response I've ever seen:


1. "there is no need to worry about the safety of your coin just because a market is frozen"
What the hell? You lock me out of my fund for 12 days and I do not need to worry? Obviously I do need to worry, because you are clearly very incompetent.

2. It's not even only about the safety of my coins. It's not like Poloniex is the only market that trades this coin. In the meanwhile, trading continues on other markets while I'm not able to touch my funds at all, FOR TWELVE DAYS (which is a lifetime in crypto)

3. When the market resumes, transactions might go through on their own, or you might have to ask for assistance
"When the market resumes, it might work, or it might not". Really? Yeah I surely could not have figured that one out myself.

This is so utterly ridiculous that I'm having trouble finding the right words for it. Unprofessional and incompetent don't quite cut it.

Yesterday in another topic a Poloniex admin said it would be resolved the same day. Guess what.. Still frozen. One heck of a way of throwing away reputation, Poloniex.

Guess what. 11 days and counting. Still frozen..

Yesterday I was also told (on IRC) that it would be fixed the same day. I was also told that public status updates would be provided. And I was also told that my support ticket would be responded to. The outcome:

- Still no response to my support ticket
- GRC market is *still* frozen
- No public status updates have been provided other than your response in this topic (which I appreciate, but you should be providing status updates on your website - not all your users are going to find this post).

I hope you'll actually set this straight because honestly this situation is ridiculous.

Update:

- Still no response to my support ticket
- GRC market is *still* frozen
- Yesterday on IRC, admins said they would get it fixed the same day. They also said they would be providing status updates (since the market was frozen, not a single bit of information was published). The outcome: nada, nothing. Market is still frozen, no status update(s) have been provided, everything is still just dead in the water.

It seems clear that Poloniex is not taking its users seriously at all, even after many attempts to get through to them. Shame on you, Poloniex.

Would one of the Poloniex admins care to explain why GRC has been frozen for well over a week, while no information is being provided whatsoever (literally nothing, it just got frozen without any kind of notice) and support tickets are getting closed without a response?

All of this seems very worrisome to me.

- You can't just freeze a coin without explanation
- You can't keep a coin frozen for over a week for any reason at all
- You can't just close support tickets of your users without response

Effectively you are making your users the victim of whatever situation is going on, and by any standard that's just wrong.

So far, I have opened 2 support tickets, both of which got closed without response. At this stage I simply have no faith left in Poloniex and will simply be pulling out all of my coins and put them at exchanges that do respect their users. I'll still be following this matter closely and I'm more than willing to give you the benefit of the doubt in case you set this matter straight. In case you do nothing, I'll consider it my responsibility to spread awareness about these malicious practices, because this is just wrong.

Just a quick update:

- Still no progress from Poloniex' side (been frozen for well over a week now)
- I had opened a ticket with Poloniex 3 days ago, which got closed without a response 2 days ago. I have reopened it myself, still no response

The fact that Poloniex doesn't seem to care about its users is a very bad signal. You can't just leave a whole market frozen for more than a week, without news and without responding to support tickets, while in the meanwhile the users have no way of touching their coins. A week in crypto is like a lifetime, and this is absolutely ridiculous. I'll be pulling out all of my coins from Poloniex, because this exchange just doesn't seem trustworthy at all.

@DJFC
I was about to ask a similar question. I don't really think the amount is relevant though. What I mainly wonder about is: how precisely did you end up sending it to that address? If you had not sent anything there for a year, then how did you end up using that specific address? Did you use something like an address book and you clicked the wrong one, or did your wallet get compromised, or ..?

Note that I am asking this because I am sincerely interested in understanding the situation in detail. And I think it can be helpful to everyone here to understand what went wrong, in an effort to try and prevent the same mistake happening again.

In either case: I hope you manage to recover the funds.

Can anyone tell me why GRC has been frozen at Poloniex for like a week and counting? This seems worrisome to me (and the fact that I bought some GRC just before the market got frozen isn't helping). Since Poloniex is listed as an official exchange in the OP, it would be at least partially the responsibility of the devs to get that fixed..

Don't let some clowns hold you down, that's exactly what they want. The internet is populated by many trolls - you should simply ignore them (and maybe even just remove their responses, nobody's going to mind if you do). Don't stop posting though - this would only negatively affect your supporters and yourself, whereas the trolls aren't going to care at all.

That still doesn't make any sense. When the difficulty only gets retargetted every 2016 blocks, there is no way this can go well. When the diff is low, it means the block time will be super short when hashes get added. When the diff is high, it'll take forever to get to the next block when the hashrate goes lower.

The whole point of difficulty is to keep the block time reasonably constant. When it only retargets every 2016 blocks, there's no way that can work.

I think something is completely wrong with this coin.

I just built the wallet. And it's already at block 8800 now. I'm also seeing like a block per second getting added.

Now I just noticed this:


What?? That means the difficulty gets retargetted every 3.5 days. How can that possibly be right?

Unless I'm missing something here, this is a pretty big fail.

Sounds like you don't exactly have a realistic expectation. It's not like a stabilization fund keeps the price up regardless of how high it goes.

Same problem here.

That doesn't make any sense at all. It really doesn't matter which pool you use, if the point is to combat multipools. Whether you spread out 100MH over many small pools, or put it in 1 big pool, the result is the same: you add 100MH to the network. It's completely irrelevant whether that hashrate comes from your pool or some other pool.

Can someone help me understand what the block time of this coin is based on? All I'm reading is that it's "random" proof-of-work. Does that mean it can be anything between 1 second and infinite, or is there a limit? And if so: what is that limit?

Also, did I understand correctly that the fork will introduce a maximum block time of 6 minutes?