Hot Cold Day

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(Edited)

Steem is having a hot cold day today.

The cold part was delivered by Poloniex, who decided to include STEEM on a list of coins that will be delisted from their exchange by October 15th (hmm, short notice?).
https://steempeak.com/busy/@toofasteddie/important-and-sad-news

With almost 10m STEEM in Poloniex wallets, it's the third largest exchange by STEEM holdings.

I wish I knew the reason for the delisting. Do they consider the trouble for maintaining a STEEM node is too high for the fees they receive, or is it something else?

Anyway, by 15 October it's likely not all STEEM holders on Poloniex will receive the "notification" and act on it. And if they receive the notification, how will they act? Withdraw STEEM and Power Up? Withdraw STEEM and burn (some of) it? Move STEEM to a different exchange and still hodl it? Move it and sell it for another coin?

I saw some hope part of the "orphaned" STEEM will be burned by Poloniex after the deadline is over. Hmm... I doubt it, unless it comes from customers of Poloniex, before October 15th.

But the day isn't so cold after all.

Here's what can warm you up!

Steemit, Inc. has decided to put those email addresses collected in the sign up process to good use and start sending out a regular newsletter.

I know one flower doesn't make it spring, but it seems this first email convinced at least one early steemian who turned inactive to check out Steem again:
image.png

Looking forward to see some results. But, it won't be easy trying to connect or reconnect with people who left Steem some time ago, or to keep engaged existing Steemians and prevent from from turning inactive.

I wish I had a look at this first email, to see how @andrarchy approached it, but I haven't received the email yet. Hopefully there aren't delivery problems, because my signup email is ok.



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4 comments
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Poloniex was one of the first exchanges that I have used back in the days... And when it was the most important (bull run) they failed... They failed because the support was awful, stuck deposits were solved after 2-3 weeks (or more), withdrawals even worse...

Anyways, I didn't have STEEM there, but I had some other that they prepared for de-listing (LBC I think), but it was some low amount, so I have just sold it... Didn't want to bother with it... I suppose that some others will do the same with STEEM, which is not a good option for the coin...

We will see how will that represent on the price.. exchanges come and go, so it will be a lot of this kinda stuff...

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Yeah... Poloniex was my first exchange as well. Haven't used it in years and wasn't planning to, even without this decision they took.

We will see how that reflects on the price. As long as the bull run doesn't start when they are dumping, I'm ok with it, and prepared to buy more at lower levels.

Posted using Partiko Android

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For whatever reason (Poloniex or some other reason) Steem is going to miss todays rally it looks like. Which is typical.

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Yeah, that's what I don't want to see. Breaking correction on the uptrend of the market. But somehow I would be totally fine with the opposite: breaking correlation on the downtrend of the market.

Posted using Partiko Android

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