Surely it is not possible for a person or entity to simply waive their legal obligations, simply by just using a website. Poloniex seems to think that they are able to exempt themselves from US laws with just a few sentences.
Whether this is legal or not is beyond me. Thus far, the consensus seems to be no, it is not. In-fact, the very mention of this may if anything be damning to POLONIEX should a(nother) class action ever actually take place.
What are your thoughts?
WIll you continue to trust POLONIEX with your funds? I myself use many different exchanges, but have moved most of my crypto over to Bittrex from POLONIEX, but that could be short lived because I have been hearing good things about Cryptopia.
Just ... use ... the ... DEX ... Bitshares ... FTW
I stopped using Poloniex a while back and feel they are shit.
That is NOT because of the user agreement, all user agreements suck if you read the fine print.
Also I would never leave one on exchanges, only put them on there from a wallet to do trades.
I may move funds to Bittrex too. I wonder why they are putting this in...hmmm
Those types of terms of use as far as preventing class-action lawsuits, and agreeing to binding arbitration in place of legal hearings is actually pretty standard.
Yep, you aren't giving up your rights for law suit, you are just going to do so in a place that is not the court house. But hey, there are no american courts anyway.
Why aren't you keeping your funds on a (1) hot wallet, (2) paper wallet, or (3) hardware wallet? If you must use an exchange to ... well, exchange, then get your crypto the hell off-of that exchange as quickly as your transaction is done.
(The above is not to be taken as advice.)
This is merely what I'm doing for myself.
Upvoted you, follow me if you'd care to at @joe.nobel.
The timing is wonderful, right?
Still, this is the kind of crap you will also find in just about any credit card agreement or cell phone contract.
"Agree not to sue, or else..."
Get out, get the fire brigade out and stay out! there are other good exchanges out there, why piss about with a risky one?
why are you guys devoting poloniex. are you planning to takedown the site
I doubt it could ever stand up in court.
This is disturbing indeed. Not sure what to do yet...
Saw that updated TOS and was thankful I pulled everything out of that shit show. Word had it the SEC was preparing to target unlicensed crypto exchanges, and I'm wondering if a crackdown is coming against Poloniex from the SEC and the IRS.
I'm not using them any more. They were in a strong position. They could have been one of the great companies of the next century by riding this booming tech like a Google of Facebook.
My funds are going to bittrex and wallets.
you know the funny thing.. poloniex which is really easy to use, powerful and with huge volumes meaning you can buy and sell instantly on everything most of the time is in fact a tough act to follow. to be honest I never once had a problem with it.. although like most people I've explored other exchanges as a safeguard to having the proverbial coin strewn rug pulled from under my feet.
I see all the polo criticism and I've seen the new t&cs. I've seen the rage over DDos and huge opportunities being lost. where from / who outside of the exchange or within, this comes from who knows? the trollbox was removed for it's embarrassing rants to moderators about 6 week old support tickets and a veritable storm of daily FUD resulting in many red cards... FAIL FAIL FAIL ! written all over it.
The markets for coin are an abysmal jungle out there and most people are / will get fleeced by smart sharks, pumping (the average punters) hard earned cash) into their own back bitcoin pocket wallet.
I think what's happening with polo is that it's losing clients hand over fist after being a dominant force that was unable / unwilling to evolve. new players always take over.
I'd take a look towards TradeQwik.
They're still new, and working out of an open-source frontend, but I think they have a lot of potential. They're even on Steemit, making posts and allowing a real community to form.
Check out @tradeqwik.
Great advice dan0ss I will stay on bittrex for now, but I will check out Cryptopia too.
I don't know where these specific provisions fall, but in the US, EULAs that are deemed to be unreasonable are consequently unenforceable. Again, I'm not a lawyer so I don't know if this would be considered unreasonable like giving up ones rights would be.
I think it's time for EVERYONE to pull their cybercurrencies out of Poloniex.....just in case the FED or FBI or....US agencies decide to go after it and freeze all funds, like they did with BTC-e.
Thanks for sharing this vital info with us.
You got an upvote & resteem from me.
Steem on beyond the moon, it will go further than that. Good luck to us all.
Indeed! I've done it.
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STOPI will stay away.Thanks for the warning!
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STOPBECAREFULL THEY ARE SCAMMERS ! THOUSANT OF PEOPLE ARE COMPLAINING !! JUST DO A SHORT RESEARH IN THE INTERNET!
THEY HAVE NO RIGHT TO HOLD PEOPLS MONEY !
IF SOMEONE DOES NOT WANT TO GET VERYFIED HE HAS THE RIGHT BY LAW TO WITHDRAWL HIS MONEY, AND STOP USIN POLONIEX!