I have left this exchanges few months ago because of poor customer service and no hearing about any transactional error. And they always block steem and steem dollars. So, I left this exchange and transferred all my assets to Bittrex. Bittrex is far better with easy to use interface.
But now as you have posted, this is really a major change in their policies.So if any dispute arise now, the only way is arbitration and over that they also reserve the rights to change their terms and conditions at will. I mean come on, is this kind of monopoly going on here? It's so injusticial. And now they are saying they hold the rights to assume anyone's account as their and they can sell it. So, basically we are just wasting our time and resources on poloniex. I would not recommend anyone to make an account on there or even conducting a single transaction.
Thank you @thecryptofiend sir to share this info. It is absolutely relevant for a lot of people in here.
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I'm not sure if the courts would accept their terms as binding but the only way to know for sure would be actually taking it to court.
No one would spend their precious time to take it to the courts. Instead people would transfer all their assests to other exchanges as soon as they would come to know about their policy changes. That's what people do sir. They don't waste their time for these matters, especially when there are a lot of options available. Don't you think so sir?
That is quite possible, although as we have seen with MT GOX and Cryptsy once they do fail people do take them to court.
Then may be it could also be happen to poloniex. Instead they should come up with reliable and acceptable policies. What they are doing right now, is kind of monopolistic.
Anyways, you have knowledge about crypto's sir and a good knowlege. Keep sharing this with your loyal followers :)
Thanks I will but people should think for themselves too - exercise their own judgement.
They should, Especially in the Cryptocurrencies and stock markets.
Precise knowledge is the only way to success. Investment just by listening to some stranger is the stupidest thing for an investor.
And for everything else, people should not take a decision on the advice of others. Exercising their own judgement in every situation is a necessity :)
Yes.