Poloniex Lessons Learned

Nothing is a given. We trade on exchanges thinking they are solid companies with redundancies built in managing millions of dollars worth of alt coins. Today I and many others found out the hard way that’s just not so.

All day long STR & XRP were shooting up in┬áprice and trading volume places. The STR price was astounding, it reached 4900 from a 24hr low of 1250, then Poloniex’s servers or server crashed and it was the worst blood bath you can imagine. It dropped 2000 in a minute and there was no way to put in sell orders. Luckily I didn’t have much in, but you can see on twitter some people lost a lot of money and they are pissed. The system couldn’t handle the volume and it froze up. Eventually it started to recover at around 3000, but just now the servers started having issues again cause XRP broke 10000 and pushed to 12000.┬áTime to upgrade the system Poloniex cause the market is growing rapidly and this bullshit is hurting, investors, alt coins and you.

 

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