Asking the Bittrex support team for their motivation to disable their Steem and SBD wallets again, I received the following answer:
Both the SBD and Steem wallets are currently offline. We currently do not have an eta for when they will be available again. Bittrex looks at various criteria when deciding to list or delist a coin.
These include but are not limited to: ongoing developments, technical innovation, blockchain network health, social media, community engagement, market cap, volume, coin distribution.
If you feel strongly about a particular coin, you may contact the developers. Feel free to discuss the coin's merits in Bittrex Slack (http://slack.bittrex.com).
Best Regards - 22th of March 2018
Is there anything we can do about this?
Picture kindly provided by pixabay
The barriers of new markets
Disabled wallets and frozen deposits still seem to be business as usual in the crypto markets.
I'm seriously asking myself: Will there be a point in time when we'll be able to use cryptocurrencies without fearing to lose them at every opportunity?
How can we trust in a coin if we're not able to use it the way we want?
After a longer vacation today I opened my bittrex account again with the idea to prepare it for some upcoming Steem/SBD deposits. To my surprise both the Steem and SBD wallet were disabled, showing a red 'i' for information and the words 'Wallet Offline'.
First I laughed and then I swore.
The way bittrex accounts look today
I have no problem with decision making as long as people are able to comprehensibly explain their motivation.
As we've learned from banks: if you have enough power, you actually need no explanations.
Obviously, exchange platforms are acting exactly as banks when it comes to covering up their actions. They block accounts, wallets, transactions just because they can.
The whole idea of decentralized solutions fails as long as we need centralized exchanges as intermediaries.
What we actually need is a completely decentralized world where relationships, transactions and collaborations are established on the basis of TRUST.
When was the last time you had an overreliance on a bank or other financial institution?
It must have been long time ago.
As a consequence, we're now going back to basics, not giving our property in hands of third parties anymore. People close their bank accounts, transfer their money to independent applications, trying to avoid any participation in the established financial systems.
What once started as the perfect match has now reached its expiration date.
As long as we need exchange platforms in order to participate in the crypto market, we'll be still not able to fully enjoy all the benefits decentralized environments provide.
@ned I'm impatiently wating for a Steem-to-USD-exchange, and I bet I'm not the only one.
Putting it on my Christmas wish list again...:-)
Cheers, Marly -
Thanks for your valuable time!
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aiming to provide stories for open-minded
people who enjoy living on the edge of their lives,
stepping out of comfort zones, going on adventure,
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Original content.
When ♨ was introduced at Binance, the option to withdraw it was also disabled for 1-2 weeks. It just shows, how dependent we are on the exchanges.
Not only with these wallet issues, but the simple fact, that most altcoins can only be traded for BTC makes them 100% dependent what it is doing. We have to face the fact, that the big exchanges rule every freaking detail about the crypto market...
No reason to worry, at least we have STEEM trading on Binance and daily volume is double more than on Bittrex.
It's fine that it's working in Binance but of couse, it would be better if it's working on both or other popular exchanges.
That's the comment I was waiting for! :-) So you recommend me to use Binance?
I ONLY recommend DEX Exchanges!!!
My openledger account is mammasitta777
Blocktrades is another option but high fees.
DEX.... OK I'd never heard about them. Thanks for the recommendation!
Bittrex is open again btw :-) What a rollercoaster!
Any decentralized exchange ( DEX )
Openledger wallet works great for me
https://openledger.info
You are the one in control! Nobody else!
Binance has a lot advantages. For me most important things: Realy live support (compared with Bittrex dead support), huge trade volumes, extremely fast desctop client for trading, 50% fees discount if you have binance token.
What about SBD? I've seen you can't exchange it on Binance. Where do you exchange it?
We have 2 options. First and simple is internal exchange. Second is Poloniex, but now its looks like under maintenance https://poloniex.com/exchange#BTC_SBD
I tried to open account with binance since months but not possible.
I keep mine in openledger DEX !
This is to be expected with centralized exchanges. This was the last thing I used Bittrex for. If they delist Steem and SBD then I no longer have a reason to use Bittrex.
Are there any alternatives? I stopped using Poloniex for the very same reason a couple of months back. Now I was quite happy with Bittrex, but I share your point of view: if they delist Steem, I have no reason to stay.
@Blocktrades works great and it is here on the Steemit platform.
Which fees do they have?
Exactly! I just suggested the same
Did Polo delist Steem, or is the wallet disabled?
I don't know, I don't use Poloniex anymore.
Been trying to open acount on binance for weeks until I just gave up..typical my luck when a buying window roles in my goto closes the door on me.
I have same problem!
Are you using openledger?
I am quite happy with this option
I belive in steem black ckchain... more than the docaled bittrex or any!
Oh why, I use bittrex, now have to reconsider other exchanges that are sharks.
Dang it! That’s frustrating. Binance is a good alternative. I have used both in the past and have been happy.
Good to know! I haven't tried Binance so far but am glad that there's still an alternative available. I'll give it a try :-)
It seems that they are finally back :)
Yes! They are. The question is: how long?
My worst case scenario is always: depositing Steem and then seeing my funds been frozen.
Which is why it is important not to have all his eggs in the same basket, I guess ^^
I agree it is a bit unnerving when exchanges behave like this, cheers mike
Und ich warte immer noch darauf mich da anmelden zu können lol Jetzt hat sich dass wohl erledigt...
Diese Entscheidungen sind meist nicht von Dauer, aber es schafft natürlich nicht wirklich Vertrauen für die zukünftige Zusammenarbeit. Ich war so happy mit Bittrex, selbst der Support funktioniert dort in letzter Zeit ausgezeichnet. Und nun das :-(
You have a minor typo in the following sentence:
it should be surprise instead of suprise.Thanks for making me aware, too kind! :-)
guys we need to move to bitshares
You can sell Steem and SBD on Bittrex right now!
Yip, I know :-) Well my post is two days old... life's running fast in the crypto world!
lol yea u right
But the time I been on Bittrex, there’s been numerous of my coins wallet use to be offline, but not for too long. I learned not to freak out when this happens
True. And it can be seriously frustrating. Is it possible for us to have an internal market? I'm no expert but bittrex and poloniex (not sure i spelt it correctly) have been having isdues lately.
I strongly believe that exchanges should start being consistent with their actions. It seems that they're trying to please somebody or something. Who knows who or what it is. Decentralization can be equal to freedom and free man should always have doors and windows open for him. In this case, that's for deposits and withdrawals.
I have a source that tells me steemit the website is actually a centralized platform and it’s only the tokens that run on it that are considered decentralized.
Sure, that's true. steemit.com is a centralized website run by a company called Steemit, Inc. The Steem blockchain actually doesn't belong to anybody which makes it 'decentralized'. Still the whole vision of decentralization doesn't work if I can't use the coin as I want.
Exchanges are real gatekeepers.
If the website gets shut down since it is centralized the steemit coin will be worthless.
not good
That's a very, very weak response from you their team. They didn't even really touch on the subject. I think we're going to see a lot of changes over the next year or two, and steem will be among those. Hopefully that steem to usd will come in time for Christmas :)
Yip, they basically didn't say anything. Which means: that they have no valid arguments to delist the coins. Maybe their boss simply don't like them. That's how exchange politics work! It's worse than in our current banking system where we have at least an inspecting authority.
I don't know the reason either. I hope this issues on the exchanges will be fixed.
I would love a steem to usd exchange! All good things come tho those who wait i guess!!
I am also the same problem occurred to me
Thank you so I discussed this topic
The topic shows that this was not their first time. It is disheartening that tbey feel SBD and Steem no longer merit the the yardstick for listing.
An exchange based on exclusive decentralisation is what we neeh.
You made a good point @sufermarly, @ned had done well but still needs to put more things in place. A steem to USD direct exchange platform would be to better advantage of steem and sbd.
Again, owing to the large, fast growing Nigeria communities, @ned should also consider a steem/sbd direct exchange to naira platform into the Christmas wish as well.
For now, convert steem and sbd into etherum or bitcoin in luno before i can think of what else to do with it. That i don't like for real, something needs to be done ASAP.
I think that service is already offered through @steemexchanger - @bait002 could confirm that.
I could give a proper opinion if they gave an actual response...
But that answer is basically a big "we did it because of reasons" kinda thing.
Glad to see you again anyway, girl
Wow amiga @surfemarly siempre me he preguntado lo mismo ¿habrá un momento en el que podamos usar criptomonedas sin temor a perderlas en cada oportunidad? la verdad que si eliminan el steem y el SBD ya no habrá razones para usar Bittrex no se como lo veas tu.
scary stuff. Paypal used to do this all the time back in the bad old days. They were so shady. But, I've never trusted them since and they are now a leader in the payment space. I was just about to buy more steem and load my cash so thank god I saw this first.
Yeah I noticed this yesterday when my Steem wasn't in my Bittrex wallet. Total BS. I can only hope that it doesn't get lost along the blockchain somewhere.
Direct fiat - steem/SBD is needed so badly. I am sure this should be prioritised as this would certainly give a massive boost to steem.
I have been running my own non-profit service of buying steem directly for fiat for the last 4 months and I have a regular queue of people wanting to use the service.
Fully agree with you. By when a DEX of SBD/USD pair?
https://steemit.com/steemit/@toofasteddie/my-today-s-proposal-for-the-mother-of-all-the-whales
It would seem odd for them to remove them since they have some of the highest volume of steem / cod compared to other exchanges.
I was still able to buy SBDs and STEEM when Bittrex had disabled both temporarily. There is asimple way to do that and that is simply search for BTC Steem Bittrex at Google and it will take yiu to the buying and selling page. Same goes for SBDs. I hope it helps.
There is no such thing as a decentralized environment. The blockchain is not one either. Once the bow is rounded, the blockchain depends on your power provider. It, in turn, draws its energy from the physical resources of the planet. For the maintenance, construction, and research of energy sources, people are employed who need to be nourished, require food and a roof over their heads.
Cryptocurrency is therefore neither particularly revolutionary nor decentralized. The creation of this currency is basically a copy of the creation of Fiat money, all zeros and ones in the computer matrix. Krypto is Fiat's little sister and both are not particularly philanthropic. Social media is basically put on top so that making money makes sense.
The experiences that people make in their physical world are projected into this space and taken out into the real world again. There are no real experiences to make here because they are purely mental in nature.
There is nothing decentralized in the entire existence of all existences on this earth. Nothing at all.
Besides, this is risk trading. None of this is safe. To be on the safe side, this should not be the subject of speculation. But what is the nature of this platform.
Correct. The question is if we should enjoy all benefits without physical effort. I am not against all technology. But as we are provided with electricity and don't do anything physical to get it the question arises why that should be the case further on. I am imagining myself producing the needed energy for my laptop by a bike which generates the energy for my device so my guilt feeling of sucking up electricity is compensated somehow more environmentally friendly. Just to give an example how I see this world I live in.
I hope you don't mind that I expanded your topic a little bit.
I thought it was for some time but as it seems it is taking longer than expected.
I used Blocktrade to transfer SBD yesterday .
Well do really hope they get to fix it soon !
Have you heard of Komodo? Decentralized exchanges are coming. Not sure if thy trade Steem yet though.
https://komodoplatform.com/decentralized-exchange/
In my view, complete decentralization though is an illusion. Even on Steemit you have the whales or platforms like DTube, Dlive etc. that hold a lot of power - who do they curate and why etc... You will never have a complete decentralization because the nature of the way humans organize themselves is based on always creating some kind of a hierarchy of leaders and followers.
But a more even distributionnof power and wealth is possible. Time will tell though.
I'm still waiting for an exchange that lets me easily convert to GBP or EUR. What we really need id for governments to start supporting crypto instead of trying to block it at every turn.
It's safe to say that I'm very thankful they're now trading on Binance. It's frustrating to say the least!
no matter the Bittrex point of view, I think that steem and steem dollar exchange for the exchange is disrespectful to the users, and mainly to the steemians. When they made the same move the first time I decided not to use that exchange as a personal decision.
Your post really wonderful (surfermarly)thanks
There's always Binance and if there's a particular coin I want on Bittrex, I transfer steem into LTC using Blocktrades into my Electrum LTC wallet and then to Bittrex from there (which sucks because of the fees but at least I can do it. Binance, I'm beginning to think, is far superior... not to mention they're coming out with a decentralized exchange- then Bittrex will be finished (he said with glee!!!)
Click the Image Below
I do not understand.
Bittrex steem wallet works correctly.
Binance is shifting to a decentralized exchange so there's going to be massive adoption. Bitshares need to simplify things I suppose. In its current form, it does not provide an attractive decentralized exchange.
The exchange situation can be really bad for sure and in the United States people who were participating on things like Local Bitcoins and doing high volume got in trouble. Also the ATM network is important but oftentimes they are just Bitcoin and with all the scaling issues they were rendered useless for the most part during the surge.
I think that Atomic Swaps are going to be extremely important in the future and that is why I have taken a position in Komodo which has BarterDEX which is a decentralized exchange that utilizes Atomic Swaps.
Also if the STEEM ecosystem or one like it can grow big enough to where a lot of people had accounts and money on here there would be more of a potential that people would transact and trade value with their holdings and earnings on here.
Thanks for the information and your thoughts about that topic.
It is interesting as I've seen both https://shapeshift.io/ and https://changelly.com/ removing / deactivating steem recently but I could not find any explanation about that move till now.
So as Bittrex has disables steem as well exchanges seem to have a larger spread issue with it, even if the reason is not clear.
Thanks for sharing! A link to your post was included in the Steem.center wiki article about Bittrex. Thanks and good luck again!!
Haha, that's funny! Thank you, nice idea :-)