Thanks for your post! I bought ETH on Kraken when it was 7 USD. One day I forgot my password and set a new one and then they wanted to see my ID. I forgot about it and though 'I will send it if I want to withdrawal my ETH later.
Now the ETH is worth a lot of money and about 2 months ago I wanted to send it to my hardware wallet to secure it better. My withdrawal got canceled and I send a support ticket. I didn't get an answer, only an excuse that they were busy. I tried it another several times, but without succes.
Then about 1 month ago I felt ETH is overvalued and wanted to trade a part back for BTC. I couldn't trade also and my support didn't get answered too.
Then I tried to send it to my hardware wallet again a few weeks ago, my withdrawals are on hold till today and I cannot do anything. It is really annoying, because I want to take profit on my ETH, I expect a big crash anytime soon. If this happens they make me loose a lot of money!
This morning I received an email from Kraken that my withdrawals are executed! I just checked and they are. Did someone of Kraken read this post or is it coincidence? In any case i am very happy! Thanks!
More thank likely they read it. Theres a lot of shady things going on in the crypto world. I tried to address a few of them for newcomers sake.
I'm curious, why would you feel ETH is overvalued at $300? Do you think BTC is overvalued at $2700?
I think BTC is undervalued and ETH is overvalued at the moment. Bitcoin has seen a solid rise since 1014 and is just a little bit more than doubled since the previous ATH. Furthermore the scaling debate has pushed the price down over the last years. Also the mainstream media is always negative about BTC, while ETH is hyped. I think many people underestimate the strength of 2nd layers on BTC after Segwit gets finally implemented. This could suck all the money invested in alts back to BTC.
ETH is for sure very interesting, but more than 15 times rise in price after it's previous ATH is a lot and the security of the ETH blockchain is a joke. Further I expect scaling or security problems to pop up in ETH and seen the recent rise in price there is not much needed to cause panic = crash.
Also RSK is coming soon and could be serious competition if their promise is true (faster, cheaper and more secure).
I will sell half of my ETH for BTC and keep the rest for long term.