The cryptocurrency exchange, Poloniex, has seen tremendous growth of its user base, but has been experiencing ongoing and disruptive lag problems for quite some time. These lag spikes have most often occurred during rises in Ripple's (XRP) value, and have been known to endure for more than an hour. During these outages, the majority of traders are unable to buy, sell, open, or close positions. Obviously, this has cost many traders dearly since the lag inspires mass sell-offs and a domino effect of stop-loss. It is not uncommon to see the Trollbox, the public chatroom built into Poloniex, filled with users expressing their dismay and anger as they accrue losses, unable to do anything to change the situation. With such a large volume of trading occurring on Poloniex, I think that this pattern of lag has done more than cause financial trouble for many of their customers. I think it has also served as a detriment to the growth of crypto. These outages have destroyed momentum of rising coins, altering the timeline, so to speak, and tainted many people's confidence in cryptocurrency. Also troubling is how silent Poloniex has been regarding these issues. Trollbox moderators offer only scripted, political replies, and the Poloniex Twitter feed may, at best, reveal acknowledgement, or suggest that the exchange was victim to a DDoS attack. In fact, if you take a look at Poloniex's twitter feed, you will find little more than a recorded history of these problems. Why do you think that this pattern of lag has been ongoing? Do you think Poloniex has handled these situations properly? Why hasn't there been some kind of, resolution, improvement, or official statement?
I would say transfer it all to Bittrex. I am using Bittrex for more than 7 months and had no problem they even credited the bitcoin cash after the fork.. Having this issues on an exchange is really scary.
Beautiful post