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Makes me laugh that many of you are criticising icos, but at the same time, actively advertising them in your signatures 
. Seems a little hypocritical to me 
. "Do as I say, not as I do"!!! 
. Seems a little hypocritical to me . "Do as I say, not as I do"!!! Well, the segwit code is actually the same as used by core and has had all the rigorous testing already performed! The new development will be the extension to larger blocks. I would assume this is just changing a hard coded value somewhere, if that was the case then it shouldn't be that difficult to code, as most emphasis would be on tweaking existing test procedures to consider the new block size). Having said that, it probably isn't coded in this way (?) and there are perhaps indirectly affected processes, nothing it seems, is ever easy when programming haha.
bryant you need to look at "today's" figures i.e., the last 144 blocks (not the "week's" figures i.e., 1000 blocks). Hover mouse over top graph (orange rectangle in segwit2x section) to get last 144 block figures.
I have edited my response (2-up), effectively saying I was wrong with hard fork date for segwit2x (I had assumed the hard fork was simultaneous put live with segwit activation). Instead, segwit will be activated when/if sufficient miner votes made. However, the hardfolk will be activated either September 21st or 3 months after this. As explained by "jgarzik":
(definitely worth a read if any of you are concerned by this!)
Quote
The prediction is that miners activate rapidly, therefore, block 485218 (BIP102_FORK_MIN_HEIGHT) becomes the hard fork point. "+3 months" is the fallback safety measure, in case activation is slower than predicted.
See this thread for further details: https://www.reddit.com/r/btc/comments/6i16gl/psa_how_segwit2x_actually_works/(definitely worth a read if any of you are concerned by this!)
Some further reading regarding Segwit2x:
http://www.coindesk.com/first-look-bitcoin-scaling-proposal-segwit2x-gets-alpha-release/
https://news.bitcoin.com/chinese-miners-segwit2x/
http://www.coindesk.com/first-look-bitcoin-scaling-proposal-segwit2x-gets-alpha-release/
https://news.bitcoin.com/chinese-miners-segwit2x/
I am surprised there has been no mention of Segwit2X, this has a planned release for July 21st, and so if this gets acceptance, this will be the defacto bitcoin (imo this is the best compromise, larger blocks and segwit activation). With my understanding, if this is successful before August 1st then 148 is moot, as it is already activated within Segwit2X.
Maybe someone with a better understanding can explain this better?...
Maybe someone with a better understanding can explain this better?...
I think if you give the maximum benefit of the doubt you can possibly give the miners, they are behaving the way they are behaving because if Segwit alone is all that's implemented, they believe, rightly or wrongly, that the future for them will be collecting fewer main chain fees because of Lightning network, and only dust-like fees from actual Lightning network transactions.
Combine this with ever diminishing block rewards, it's possible they see their financial future as dimmer and dimmer in bitcoin. So really they need to see something positive from their future fee collection standpoint, and a bump to 2Mb blocks is something they can point to as a "life line" for their future.
That's the absolute most benefit of the doubt scenario I can come up with, and if it's close to reality (doubt it's the entire story) then your scenario may come to pass. It's just that this hard fork to 2 MB is going to be so difficult and so contentious....could get nasty.
+1
This is the exact same conclusion I have come to.
I see this situation as being the choice between a chain split (bip148) or a hard fork Segwit2X. Whatever happens there is going to be a split/fork (otherwise bitcoin will not be able to handle the current scaling issue and will die due to much competition) so imo it is a choice of choosing the best of a bad situation. The markets will ultimately show who was correct (lightning vs bigger block sizes) if segwit2x is activated.
Logically, it seems Segwit2X will be the winner in this fight because it resolves both opposing views. If segwit2x does get miner support i.e., > 80% total network hash power, then I can't see this being a bad fork, the remaining hash would be too small to deal with the current difficulty level of mining the next block (on the "old" chain). In this scenario, an Ethereum classic vs Ethereum situation is not possible (?). Though happy to be proved wrong as I am still considering my options as a hodler, and consideration for adding to my position during this speculation, as I expect some wild fluctuation of the bitcoin price these coming months.
I am surprised there has been no mention of Segwit2X, this has a planned release for July 21st, and so if this gets acceptance, this will be the defacto bitcoin (imo this is the best compromise, larger blocks and segwit activation). With my understanding, if this is successful before August 1st then 148 is moot, as it is already activated within Segwit2X.
Maybe someone with a better understanding can explain this better?...
Maybe someone with a better understanding can explain this better?...
I've used coinfloor in the past for purchasing bitcoin, and they seemed to offer a decent service (if you use the exchange). I assume selling is fine there on the exchange too? Not sure if they offer Ether? If not, it should be simple enough to convert to Bitcoin on a pure alt coin exchange, then withdraw that way.
...Though if you're looking at being an ether type broker, then sorry, can't help
...Though if you're looking at being an ether type broker, then sorry, can't help
(sorry for the following essay )
Taken from https://poloniex.com/press-releases/2017.06.07-Improving-Our-Support-Capacity/
From the above, the explanations seem to be reasonable. It seems they have been caught out by the massive influx of new users and thus under capacity issues. I suspect they put most of their current support into deposit/withdrawal issues, hence the 1.5 months I have had to wait? The amount of money Poloniex must be making on a daily basis must be enormous so I don't see why they would jeopardize such a business? The problem as we all know is that you should never hold your funds at an exchange if you are wanting to hold for the long term, as you are always at risk the threat of hackers pinching your funds.
I agree, it should be cheap to hire people for verification, perhaps as I suggested above, the verfications are ending up at the back of the queue because they want their support working on deposit/withdrawal issues? For such staff employment, I would expect a lot more training / trust /screening required. They should have separate support teams if they don't already?
The problem that polo don't seem to understand is when you have been waiting so long for verification, you start to doubt their trustworthiness, and worry that those dollars on your screen account will "disappear". This is the main reason for this thread, I have a fairly large balance and the fact they have finally verified my level 2 withdrawals suggests all is fine at poloniex towers (i.e, no hacks). I am now 50% out, but will admit, my worry will only end once I am 100% out regardless of all my rational reasoning.
Ultimately, had I known 2 months ago that the waiting time for level 2 verification was going to take so long I would no way have deposited the amount of bitcoin there as I did! Risk/Reward wouldn't have been worth it.
cryptosifu, out of interest, what extra hoops do you have to jump through for level 3?
)Taken from https://poloniex.com/press-releases/2017.06.07-Improving-Our-Support-Capacity/
Quote
IMPROVING OUR SUPPORT CAPACITY
Poloniex Community,
Last month, we described the unprecedented growth and excitement in the [Suspicious link removed]munity and how this exuberance can present operational challenges for exchanges. As this trend continues, we are doubling down on our efforts to expand and improve your experience on the Poloniex platform. We also want to remind our community to take caution when exchanging tokens in highly volatile markets and understand that unexpected events can have significant market effects. Please use the platform to trade responsibly and within your means.
Support Team
Increased enthusiasm for trading blockchain tokens on the Poloniex platform has led to increased stress on our systems. Heightened activity and new users mean more support tickets and man-hours spent resolving them. Thus, to meet this demand, we have more than doubled the size of our support team and will continue to focus our efforts toward improving user experience.
Hiring quality support staff is neither easy nor quick, especially in our line of business. Training must cover the technical and regulatory complexity of a rapidly evolving industry and community. We must also ensure the security of our system and operations at every level. This requires thorough and proper vetting of new staff.
Onboarding and Account Verifications
We mentioned new users, but we did not mention what is involved in onboarding or tier verification. As a registered money services business in the United States, we must be able to verify the identity of our users, the source of their funds, and the purpose of their transactions as they occur on our platform. If users want to move up a tier, they must provide more identifying information. This is required of us by law and we take our compliance obligations very seriously. As we scale our team, we are building a culture of compliance for our organization. To comply with our legal obligations, our current onboarding and verification process often requires some manual input. This takes time and resources, creating a support bottleneck.
We are aware of the negative impact these delays can have on Poloniex users. To address this, we have begun automating more aspects of our onboarding and account verification systems. Our hope is that with enterprise-grade service providers we have carefully vetted and procured, this particular backlog should lessen considerably, helping platform users have a better experience while their private information remains protected in line with our Privacy Policy.
Withdrawals/Awaiting Approval
We are legally required to know the identity of our users and to maintain strict controls over how funds leave our platform. In addition, our auditing system flags for specific activity to ensure the safety of your funds. While we cannot reveal precisely what triggers such flags without compromising the integrity of the system, we want to highlight how our efforts to keep our platform safe and secure can degrade the user experiences at times. For example, when our system flags an activity as suspicious, the ensuing investigation and resolution usually requires human intervention, which takes some time. As we gain more users, they naturally trigger more flags that require more of these slow human interventions, so more human resources are required to handle the volume.
Automation here is tempting to rush, but difficult to get right. Large financial institutions have spent years fine-tuning these functions. Our rapid growth does not permit us that luxury, but we can learn lessons from their operational successes. As we improve our support more generally, we can address these tickets faster. Users should start noticing incremental advances in the coming weeks.
As we implement these changes, we encourage our users to be patient and not submit repeat tickets. The vast majority of our open tickets consist of duplicates. Submission of repeat tickets only increases our backlog and does not get your ticket reviewed faster. Manual effort must be expended to identify, match, and consolidate tickets to ensure the issue has been addressed. Repeat submission needlessly slows resolution not only of your ticket, but of all other outstanding tickets.
We are successful when Poloniex users have the best experience possible, so it is with that in mind that we renew our commitment to improving the user experience on our platform. Look for more updates and announcements as we continue this process.
- The Poloniex Team
Poloniex Community,
Last month, we described the unprecedented growth and excitement in the [Suspicious link removed]munity and how this exuberance can present operational challenges for exchanges. As this trend continues, we are doubling down on our efforts to expand and improve your experience on the Poloniex platform. We also want to remind our community to take caution when exchanging tokens in highly volatile markets and understand that unexpected events can have significant market effects. Please use the platform to trade responsibly and within your means.
Support Team
Increased enthusiasm for trading blockchain tokens on the Poloniex platform has led to increased stress on our systems. Heightened activity and new users mean more support tickets and man-hours spent resolving them. Thus, to meet this demand, we have more than doubled the size of our support team and will continue to focus our efforts toward improving user experience.
Hiring quality support staff is neither easy nor quick, especially in our line of business. Training must cover the technical and regulatory complexity of a rapidly evolving industry and community. We must also ensure the security of our system and operations at every level. This requires thorough and proper vetting of new staff.
Onboarding and Account Verifications
We mentioned new users, but we did not mention what is involved in onboarding or tier verification. As a registered money services business in the United States, we must be able to verify the identity of our users, the source of their funds, and the purpose of their transactions as they occur on our platform. If users want to move up a tier, they must provide more identifying information. This is required of us by law and we take our compliance obligations very seriously. As we scale our team, we are building a culture of compliance for our organization. To comply with our legal obligations, our current onboarding and verification process often requires some manual input. This takes time and resources, creating a support bottleneck.
We are aware of the negative impact these delays can have on Poloniex users. To address this, we have begun automating more aspects of our onboarding and account verification systems. Our hope is that with enterprise-grade service providers we have carefully vetted and procured, this particular backlog should lessen considerably, helping platform users have a better experience while their private information remains protected in line with our Privacy Policy.
Withdrawals/Awaiting Approval
We are legally required to know the identity of our users and to maintain strict controls over how funds leave our platform. In addition, our auditing system flags for specific activity to ensure the safety of your funds. While we cannot reveal precisely what triggers such flags without compromising the integrity of the system, we want to highlight how our efforts to keep our platform safe and secure can degrade the user experiences at times. For example, when our system flags an activity as suspicious, the ensuing investigation and resolution usually requires human intervention, which takes some time. As we gain more users, they naturally trigger more flags that require more of these slow human interventions, so more human resources are required to handle the volume.
Automation here is tempting to rush, but difficult to get right. Large financial institutions have spent years fine-tuning these functions. Our rapid growth does not permit us that luxury, but we can learn lessons from their operational successes. As we improve our support more generally, we can address these tickets faster. Users should start noticing incremental advances in the coming weeks.
As we implement these changes, we encourage our users to be patient and not submit repeat tickets. The vast majority of our open tickets consist of duplicates. Submission of repeat tickets only increases our backlog and does not get your ticket reviewed faster. Manual effort must be expended to identify, match, and consolidate tickets to ensure the issue has been addressed. Repeat submission needlessly slows resolution not only of your ticket, but of all other outstanding tickets.
We are successful when Poloniex users have the best experience possible, so it is with that in mind that we renew our commitment to improving the user experience on our platform. Look for more updates and announcements as we continue this process.
- The Poloniex Team
From the above, the explanations seem to be reasonable. It seems they have been caught out by the massive influx of new users and thus under capacity issues. I suspect they put most of their current support into deposit/withdrawal issues, hence the 1.5 months I have had to wait? The amount of money Poloniex must be making on a daily basis must be enormous so I don't see why they would jeopardize such a business? The problem as we all know is that you should never hold your funds at an exchange if you are wanting to hold for the long term, as you are always at risk the threat of hackers pinching your funds.
These level 2 verification requests are PURE PROFIT for Poloniex since if Poloniex is legit this means more trading volume.
If they are like most startups I know they would just do 1 minute quick checks to satisfy the nominal requirements and then click "accept".
If they didn't have enough people they'd hire people off the street for $10/hr to click "accept". Money, money, money.
So Occam's razor says the feet-dragging on verifications is to avoid withdrawals.
They have reduced withdrawal fees (for Ether at least - but still more expensive than using Ethereum chain directly) but having to do $2k transactions for X days does certainly gets expensive for the user. Poloniex purposely slowing down lvl2/3 verifications to benefit from these extra withdrawal fees doesn't make sense to me, as they know this would lead to a backlash and resentment thus loss of customers which would probably be more damaging to their business than earning a quick buck in this way?If they are like most startups I know they would just do 1 minute quick checks to satisfy the nominal requirements and then click "accept".
If they didn't have enough people they'd hire people off the street for $10/hr to click "accept". Money, money, money.
So Occam's razor says the feet-dragging on verifications is to avoid withdrawals.
I agree, it should be cheap to hire people for verification, perhaps as I suggested above, the verfications are ending up at the back of the queue because they want their support working on deposit/withdrawal issues? For such staff employment, I would expect a lot more training / trust /screening required. They should have separate support teams if they don't already?
The problem that polo don't seem to understand is when you have been waiting so long for verification, you start to doubt their trustworthiness, and worry that those dollars on your screen account will "disappear". This is the main reason for this thread, I have a fairly large balance and the fact they have finally verified my level 2 withdrawals suggests all is fine at poloniex towers (i.e, no hacks). I am now 50% out, but will admit, my worry will only end once I am 100% out regardless of all my rational reasoning.
Ultimately, had I known 2 months ago that the waiting time for level 2 verification was going to take so long I would no way have deposited the amount of bitcoin there as I did! Risk/Reward wouldn't have been worth it.
cryptosifu, out of interest, what extra hoops do you have to jump through for level 3?
Took ages, though they say in their public statements that they've had a flood of new users etc. Not sure if there was something holding them up with my verification, but from what I had read on the trollbox, it seems that the support tickets may not actually be resolved in chronological order (as one may expect)? So hopefully not many people will be waiting as long as I had too? I'm not completely out of the water yet thought, as it will still take a few days to withdraw everything but now confident it will all go through fine.
I suspect it is not just new users who have caused the backlog, rather, existing customers who have seen their portfolios quadruple+ in the last month - enough to mean level 2 is more of a requirement.
I suspect it is not just new users who have caused the backlog, rather, existing customers who have seen their portfolios quadruple+ in the last month - enough to mean level 2 is more of a requirement.
Just wanted to say that yesterday I had my level 2 verification verified - woo hoo 
I had been waiting around 1.5 months and had a support ticked in place for a month (#149XXX to give you an idea as to how far back was created). The reason I write is because the last couple of weeks I was getting more and more worried that Poloniex was going the way of mt Gox, with all the FUD posts etc. I saw streams of "please verify my level 2" on the troll box in recent weeks, and then when the trollbox was removed I became even more anxious. Posts of "scam" etc in various threads didn't help either in reducing my fears! So.. Just wanted to write to reassure those of you who are in a similar position and fearing the worst that they *are* actually verifying accounts; ignore the FUD!
I had been withdrawing the $2k limit each day, but this would have taken a long long time to complete, especially with the increases in coin values we have seen. The fees per transaction on a daily basis (instead of one big withdrawal) add up very quickly. I must applaud Polo because I see they have reduced (halved) their Ethereum transaction fees in the last 2 days, this I anticipate is in response to many others having to do the $2k trick each day (I assume other coins txn fees were reduced too?)! So it appears Polo really are doing their best. I hope they quickly get through the back log and get back to being the best!
Just wanted to alleviate concerns.
I had been waiting around 1.5 months and had a support ticked in place for a month (#149XXX to give you an idea as to how far back was created). The reason I write is because the last couple of weeks I was getting more and more worried that Poloniex was going the way of mt Gox, with all the FUD posts etc. I saw streams of "please verify my level 2" on the troll box in recent weeks, and then when the trollbox was removed I became even more anxious. Posts of "scam" etc in various threads didn't help either in reducing my fears! So.. Just wanted to write to reassure those of you who are in a similar position and fearing the worst that they *are* actually verifying accounts; ignore the FUD!I had been withdrawing the $2k limit each day, but this would have taken a long long time to complete, especially with the increases in coin values we have seen. The fees per transaction on a daily basis (instead of one big withdrawal) add up very quickly. I must applaud Polo because I see they have reduced (halved) their Ethereum transaction fees in the last 2 days, this I anticipate is in response to many others having to do the $2k trick each day (I assume other coins txn fees were reduced too?)! So it appears Polo really are doing their best. I hope they quickly get through the back log and get back to being the best!
Just wanted to alleviate concerns.