Can someone explain this on Poloniex

In searching for a new ZEC/USD exchange, since BitFinex is excommunicating US individual traders, I found this oddity on Poloniex.

Why would someone create a bot to purchase, at asking price, 0.000001 ZEC every 4 seconds? Is this the extreme of dollar cost averaging? Do they even pay a fee at that low transaction?


Well spotted!

I think Poloniex is questionable. I did a lot of research and there are many negative news around that exchange. Also, is USDT not the Tether token rather than the traditional currency USD?

I use Kraken for
traditional currency <–> digital asset
and Bittrex for
digital asset <—> digital asset

Hope this helps.


Urgh, don’t tell me that. I’ve been crabbing a lot of coinage from there. BTC to others, mostly. And back again.

Isn’t $0.000001 ZEC the transaction processing fee that goes to the validation of the transaction?

No, that’s 0.0001 ZEC by default for shielded transactions sent by z_sendmany or z_shieldcoinbase. For other transactions it is set by the same algorithm as in Bitcoin 0.11.2. We intend to change it to be uniformly 0.0001 ZEC.