Poloniex is the WORST. They didn't respond to my initial ticket for 20 days. Only to respond telling me that it was resolved when nothing at all has changed. It is the last little bit of crypto I have on Poloniex. So once its out I can delete my Poloniex account and never ever have such a bad experience again. I am expecting it to take another 20 days, for them to tell me its been resolved again.. then to have to do it all over again a couple times before I really get it back. This is the Comcast of crypto after all..
I do have an advantage however, Poloniex has a Bitshares account where their transfers and withdrawals are on the block-chain. I easily went and could tell that nothing was sent to a similar name from them, additionally the amount I withdrew was never sent to anyone during that time. So they once again messed up and didn't send anything. Just closing the ticket, without verifying anything.
Bitrex, Bitfinex, and Kraken won't do this you say... Well, maybe. I am glad they are around. However once they become as big as Poloniex that stability and security might go away as well, they might have 20 day old support tickets stacking up too! Chances are that one of them will understand how bad this looks for Poloniex and strive not to be the same. The competition in the exchange market means that these companies have to constantly upgrade the UI, the back-end, the coin support in order to stay ahead and give themselves an angle over the other exchanges.
There is a better option though. There are 4 Exchanges that do not operate under the same rules. They are ran off a blockchain which means they are surely more trustable than a centralized exchange. Of course I'm talking about bitshares, openledger, rudex, and freedom ledger. All running off the Bitshares blockchain. I will just list the 3 main reasons why I think the Bitshares exchange blockchain is the superior exchange for people involved in crypto to be in.
One name to rule them all : Once you sign up for a Bitshares account, you will be able to use that same username and password to login to any of the other exchanges. Instead of having a wallet address you get a simple username to receive fund to. This is all built in, and since its open source, there will be more decentralized exchanges that will be built off the Bitshares blockchain. It has its own internal competition between these 4 exchanges. Healthy, decentralized competition.
No giving coins to untrustworthy companies for IOU's : Bitshares has collateralized blockchain IOUs. Currently Bitshares has 200 million Bitshares on the blockchain waiting to pay for proposals and also backing the IOU's provided by the exchange platform. All verifiable through the blockchain. It offers layers of transparency that are impossible for centralized exchanges to rival. That is how I could easily tell Poloniex never fixed the issue of my ticket. I just verified it myself on the blockchain. Bitshares has IOU's that are verifiable on the blockchain and backed by the Bitshares that the blockchain itself holds. No insolvency problems for bitshares!
SPEED : Bitshares manages to do all of this, while also holding the title as the fastest proven blockchain. Bitshares and Steem do more transaction than Bitcoin and Ethereum combined. Already being the fastest, they are still planning on integrating with the fastest blockchain ever EOS, to become even better and more efficient. Bitshares has never bottle necked and it has done more transactions in a 24 hour period than Ethereum has. It has hosted ICO's with no problems. Even as more people join all the time, it still does not miss a beat.
This level of decentralization doesn't come without a few flaws. Updating and changing things requires votes and people to do the work, it didn't prevent Bitshares from moving to Bitshares 2.0 without no forks or flaws. There is no customer support, its not a company. It requires you do things correctly and assures you if you do, then nothing will mess up. No support tickets are necessary.
Like the founding forefathers in America Bitshares as a community has to decide how to move Bitshares forward. There is no CEO to move it forward. There are differing opinions between the bitshares community. However everyone only wants whats best for the Bitshares blockchain, and for the crypto community as a whole. Likewise each person holding Bitshares has a vote, and has the opportunity to put their 2 cents down on the witnesses and ideas that will move the community as a whole, forward and up.. TO THE MOON! (and Poloniex to the garbage haha!)
Any comments, questions, or clarifications you have. Or even concerns about Bitshares! Please comment below. My favorite part of Steemit is being able to have back and forth with awesome people who are smart enough to be on this blockchain social media site before the rest of the world catches up!
