Vlog 165: Poloniex Steem wallet works again! + BTC unconfirmed transaction 223712 and climbing!
This morning I saw I huge spike in the price of SBD on Poloniex.
I had a feeling what probably occurred.
They enabled the wallets again!
I'm expecting a rush as people find out so I sent my SBD back to my Steem wallet for now.
It's not the first time this happened to Poloniex.
The Steem price has corrected a little bit but is still sitting nicely at $2.80.
What I do find problematic is the congestion of the BTC network at the moment. 223712 transaction at the moment and climbing! source
As the most important and well-known crypto and also my personal gateway to go from crypto to Fiat and back it's almost unusable.
The fees are also going through the roof.
I talk about it more in my vlog.
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You shouldn't need to use BTC as a gateway. Especially now that Poloniex is back, you can use the STEEM/ETH pair and ETH/fiat pairs such as on Kraken and totally avoid BTC issues.
Admittedly Kraken and Poloniex aren't without their own issues...
You are right. I have become so used to using this Dutch company that accepts BTC and sends Euro's that I forgot about Kraken. Been Tier 3 there since forever but have not used it much lately. Thanks, I'm going to give the LTC Kraken route a try.
Problem with using LTC is that there is no LTC/Steem pair on any platform, so you have to go LTC->BTC->Steem and pay more fees. It depends on how much volume it is whether it's worth saving on the transfer. Steem/ETH has low liquidity but not as low as you might expect.
Also Kraken generally sucks recently, but there are other alternatives for ETH/fiat and LTC/fiat in Europe.
I tried both by sending 2x 10 SBD to Blocktrades and sent LTC and ETH to Kraken. ETH was much faster. Sold to euro's and have a SEPA withdrawal pending as a test. Cost 9 cents. Not sure when it will arrive but this is saving me a fortune. Fingers crossed.
Awesome. Another good option is Bittrex(Steem->BTC->BCH)->kraken(EUR). Not as fast as Ether but the cheapest option when moving smaller amounts. On larger amounts it's not worth the extra exchange commission.
I did the calculations. It's saving me around $50-$60 per * x SBD ---> Euro* transaction. Of course, it must arrive first.
I think problems are everywhere a bit. The other day I transfered some Eth from Coinbase to Poloniex. After 3 days ( 3 days in Ethereum network!) of sweat and prayer it finally got there. What a heat I took!
what about steem dollar price today :P
This is correct ETH has many pairs now including the Steem one on Polo. There's some major fiat gateways coming too that will offer direct alt pairs. Also, Coinbase has announced they will be adding more Cryptos and ERC-20 tokens.
Since yesterday coinbase enables BCH, maybe you can use it to get fiat.
Hope not since you are HODL steem.
Good job!
Keep on steemit
I will hold my STEEMpower for a long time. Don't worry :)
They always worry me. Without warning they just stop accepting coins... Never know if it could turn out to be the next Gox...
It's clear that at least 90% of the coins in the current top 100 will be near worthless in 5 years from now. For me, it's about trying to evaluate the projects that actually do something useful and are fully functional already. STEEM is one of the few that is both of those things, and the tokens have a real value and use case
I agree. I think scaling is the biggest issue with most blockchains.
Hi Exyle, the more I watch you video's the more i want to learn about Crypto, are you just self taught or did you do a few courses?
I'm a digital marketer however I've just arrived on Steemit and finding it very exciting. If you can recommend any books or course I'd love to hear from you. Im currently doing a few courses on Steemit but theres not much on the web so its just trial and error to get more upvotes.
However i do love writing content and i have loads of article Ive published on LinkedIn i can use and rehash, for me its all about giving a good service to my followers, when i get them ha ha .
Thank again for the interesting video.
Everything I know about Crypto I know I taught myself. I still learn every day. Google and Steemit will teach you everything you need to know. Learns the basics. Study Bitcoin and the underlying technology (blockchain) first. It will provide a solid base.
why not used bittrex with they never got any probleme
Bittrex have one big issue which was Support Team. they will take many many time to aprove accounts and so late reply.. beside these Bittrex is good .
plus watch and study hours and hours and hours and days and days worth of youtube videos to educate yourself even more. And of course the traditional way of books always works too.
Thanks exyle
ooh god i just asked above from one person about Exyle post and here we meet its great to know more about you and it will be intresting that what will be i learn from you Dear.
Thank you very much for the info
Is that how they make Bitcoins?
Hi
Andreas Antonopoulos' speeches are a great way to get an introduction!
Also his book "The Internet of Money" is a great starter!
If you're into coding or just want to dig deep into how the Blockchain and Bitcoin works I would recommend the book "Mastering Bitcoin".
There's a great documentary on Bitcoin on Netflix called "Banking on Bitcoin", which sums up the history of Bitcoin in a non-technical way.
Hope that helped somehow :)
I love Andreas! I guess everyone that is into the cryptos knows of Andreas Antonopoulos. I especially love his, "Money as a System-of-Control" video. Although I guess he generally touches on most of the same topics, at least somewhat, in most of his talks. If all the world's leaders were as intelligent and caring as AA, most of our problems would be resolved practically overnight!
you are right....
l support you..............
great person
Nice to meet you here hope i learn something from you
I dont think poloneix is safe, so please be cautious while dealing with poloneix and as fat steem is concerned the road is just open and it has to go beyond 10.
Thank you @exyle and have a great day.
Great post! Thank you for this!
right bro
Why Exyle's blog is important: everyone thinks: I can do this too! #Statistics
what is Exyle's blog dear let explain a little
Its ridiculous that Poloniex still is having all these issues with the Steem wallet. This has been going on for a year now. Bittrex has been mostly flawless for me.
It's not good indeed. Glad that for now it's fixed. Bittrex has been ok indeed for a while. But they also had wallet problems in the past. In general, I'm therefor careful with exchanges.
Poloniex Robbed me of 50 steems i was trying to exchange for a friend, sometimes i think their security measures is porous.
Yea i agree @thejohalfiles
Sir i have made a post for you just have a look on my work for you
@thejohalfiles
Oh, yes, my friend, that's great news! I, too, as usual this morning began to check my balance on POLO and WOW, my long-awaited SBD were on balance! After I checked the course and he too was pleased, after which I thought, the day starts EXTREMELY! Thank you @exyle and keep us informed.
Sorry to interfere but this news helps a lot of people. Right
People keep complaining about BTC transactions taking a LONG time, and yet, every time I've moved mine from wallet address to wallet address, it doesn't take that long. Not sure why people have BTC transaction problems, but I'm glad I've never had them. As for Steem, I use Bittrex to do my Steem and SBD transactions, would love to see Binance list it to make Steem go the moon!
How much fee do you pay if I may ask?