Poloniex exchange just added Monero Markets and removed LTC markets

[Skinnkavaj]

Poloniex Welcomes New Monero (XMR) Markets

Monero is the First Altcoin to get its Own Market Pairings since Litecoin on Poloniex.com
WHITEFISH, MT, July 23, 2014 — Poloniex.com announced today that the company will offer new market pairings with Monero (XMR) to Poloniex customers, beginning on Wednesday, July 23rd 2014.

Monero, a private, secure, and untraceable cryptocurrency based on the CryptoNote protocol, has been the most actively traded cryptocurrency on Poloniex nearly every day since the addition of the XMR/BTC market. “Since its debut, Monero has been trading in huge volume and has demonstrated impressive resilience during market fluctuations,” Poloniex owner, Tristan D’Agosta stated. “Couple that with an active and strategic development team, and expanding our XMR pairings simply made good sense for our customers.”

“We could not have dreamed of a better exchange to host the first XMR market,” stated an exuberant David Latapie, a core team member of Monero. “With the recent onslaught of fraudulent cryptocurrencies, we knew Poloniex had toughened their acceptance criteria for inclusion in their market listings. So for an exchange with such rigorous standards to open multiple XMR market pairings, it’s a vote of confidence for the Monero development team. We are excited for what’s ahead.”

Monero continues to be actively mined today. Currently traded at .00503000 BTC per coin, Monero’s nethash is at approximately 15.950 MH/sec with difficulty at 940 million, according to Monerochain.info. “Miners appreciate that our proof-of-work algorithm decreases the performance gap between CPU and GPU mining, allowing CPU miners to still mine relatively efficiently,” stated Latapie. “They believe Monero’s value will rise as its usefulness and utility increases, and the Monero team is firmly committed to delivering world-class solutions for Monero investors. We’re in it for the long-haul.”

Starting on July 23rd, Poloniex will open the following eight Monero market pairs: BCN/XMR, DIEM/XMR, DRK/XMR, IFC/XMR, LTC/XMR, MAID/XMR, NXT/XMR, and QORA/XMR.

https://www.poloniex.com/press-releases/2014.07.23-Poloniex-Welcomes-New-Monero-XMR-Market

[Spoetnik]

i have no doubt it will be as popular as Cryptsy's XPM markets we laughed at way back on launch..

[ddnn46]

yes,LTC have dead

[statdude]

Anyone smart enough to build an API bot based on other altcoin rates on other exchanges to play market maker?

Ping me.

[oldmarsh]

XMR Markets 24-hour Volume: 25.634 XMR
(that's the volume for all 8 XMR markets combined)

So 25 XMR is equal to what? A whole 0.1 BTC? Now that's some MEGA TRADE VOLUME! Monero devs must be paying Poloniex for them to have their dick shoved that far down Poloniex throat.

Meanwhile, LTC, apparently dead, has a trade volume that continues to dwarf even these pump-and-dump: http://coinmarketcap.com/currencies/volume/24-hour

[3x2]

XMR Markets 24-hour Volume: 25.634 XMR
(that's the volume for all 8 XMR markets combined)

So 25 XMR is equal to what? A whole 0.1 BTC? Now that's some MEGA TRADE VOLUME! Monero devs must be paying Poloniex for them to have their dick shoved that far down Poloniex throat.

Meanwhile, LTC, apparently dead, has a trade volume that continues to dwarf even these pump-and-dump: http://coinmarketcap.com/currencies/volume/24-hour

LTC is not yet dead but dying. If BTC-E removes LTC it will be dead in a week   but XMR is rising day by day and no one can stop it.

[oldmarsh]

XMR Markets 24-hour Volume: 25.634 XMR
(that's the volume for all 8 XMR markets combined)

So 25 XMR is equal to what? A whole 0.1 BTC? Now that's some MEGA TRADE VOLUME! Monero devs must be paying Poloniex for them to have their dick shoved that far down Poloniex throat.

Meanwhile, LTC, apparently dead, has a trade volume that continues to dwarf even these pump-and-dump: http://coinmarketcap.com/currencies/volume/24-hour

LTC is not yet dead but dying. If BTC-E removes LTC it will be dead in a weak  but XMR is rising day by day and no one can stop it.

Most idiotic post I've read today...

[3x2]

XMR Markets 24-hour Volume: 25.634 XMR
(that's the volume for all 8 XMR markets combined)

So 25 XMR is equal to what? A whole 0.1 BTC? Now that's some MEGA TRADE VOLUME! Monero devs must be paying Poloniex for them to have their dick shoved that far down Poloniex throat.

Meanwhile, LTC, apparently dead, has a trade volume that continues to dwarf even these pump-and-dump: http://coinmarketcap.com/currencies/volume/24-hour

LTC is not yet dead but dying. If BTC-E removes LTC it will be dead in a weak  but XMR is rising day by day and no one can stop it.

Most idiotic post I've read today... Because i Hold too many Litecoins.

Corrected for you 

[statdude]

XMR Markets 24-hour Volume: 25.634 XMR
(that's the volume for all 8 XMR markets combined)

So 25 XMR is equal to what? A whole 0.1 BTC? Now that's some MEGA TRADE VOLUME! Monero devs must be paying Poloniex for them to have their dick shoved that far down Poloniex throat.

Meanwhile, LTC, apparently dead, has a trade volume that continues to dwarf even these pump-and-dump: http://coinmarketcap.com/currencies/volume/24-hour

Give it some time idiot.

[fluffypony]

XMR Markets 24-hour Volume: 25.634 XMR
(that's the volume for all 8 XMR markets combined)

So 25 XMR is equal to what? A whole 0.1 BTC? Now that's some MEGA TRADE VOLUME! Monero devs must be paying Poloniex for them to have their dick shoved that far down Poloniex throat.

Meanwhile, LTC, apparently dead, has a trade volume that continues to dwarf even these pump-and-dump: http://coinmarketcap.com/currencies/volume/24-hour

Normally I don't engage with stuff like this, but I'd like to point out that those 8 markets went live - with no pre-announcement - 3.5 hours ago. People had to react to the sudden announcement, move their XMR or altcoins on to the exchange, setup their structured orders, and price finding had to take place before the first trade even happened.

[El Dude]

XMR Markets 24-hour Volume: 25.634 XMR
(that's the volume for all 8 XMR markets combined)

So 25 XMR is equal to what? A whole 0.1 BTC? Now that's some MEGA TRADE VOLUME! Monero devs must be paying Poloniex for them to have their dick shoved that far down Poloniex throat.

Meanwhile, LTC, apparently dead, has a trade volume that continues to dwarf even these pump-and-dump: http://coinmarketcap.com/currencies/volume/24-hour

Lol , trolls keep saying litecoin is dead when it's volume destroys all other coins.

[Thirdspace]

XMR Markets 24-hour Volume: 25.634 XMR
(that's the volume for all 8 XMR markets combined)

So 25 XMR is equal to what? A whole 0.1 BTC? Now that's some MEGA TRADE VOLUME! Monero devs must be paying Poloniex for them to have their dick shoved that far down Poloniex throat.

Meanwhile, LTC, apparently dead, has a trade volume that continues to dwarf even these pump-and-dump: http://coinmarketcap.com/currencies/volume/24-hour

look at these:
XMR BTC Monero -7.73 %    349.79 0.004768
LTC BTC Litecoin -0.51 %    0.807   0.01369968
that's 349.79 BTC volume compared to less than 1 BTC volume (@ Poloniex)

maybe the reason is because XMR is traded a lot more than LTC,
so they decided to downgrade LTC and upgrade XMR as a 2nd based currency for trading
and as fluffypony said it's been only 3.5hrs, so please give time for the markets to adjust

but hey I'm just a newbie, I most probably be wrong

[oldmarsh]

XMR Markets 24-hour Volume: 25.634 XMR
(that's the volume for all 8 XMR markets combined)

So 25 XMR is equal to what? A whole 0.1 BTC? Now that's some MEGA TRADE VOLUME! Monero devs must be paying Poloniex for them to have their dick shoved that far down Poloniex throat.

Meanwhile, LTC, apparently dead, has a trade volume that continues to dwarf even these pump-and-dump: http://coinmarketcap.com/currencies/volume/24-hour

look at these:
XMR BTC Monero -7.73 %    349.79 0.004768
LTC BTC Litecoin -0.51 %    0.807   0.01369968
that's 349.79 BTC volume compared to less than 1 BTC volume (@ Poloniex)

maybe the reason is because XMR is traded a lot more than LTC,
so they decided to downgrade LTC and upgrade XMR as a 2nd based currency for trading
and as fluffypony said it's been only 3.5hrs, so please give time for the markets to adjust

but hey I'm just a newbie, I most probably be wrong

So you really think Poloniex is the only exchange? It's not even a big exchange in terms of volume. How about you look at the major exchanges that actually matter, where XMR isn't even listed. If you even bothered to check crypto market cap site and look at trade volumes or do any research whatsoever other than just eat whatever the Monero devs shit into your mouth, you would realize that LTC is the second-most traded to BTC. You are a lost cause.

[oldmarsh]

And y'all crying saying "the XMR markets have only been up for some hours," you must not have ever seen what happens when a pump and dump coin goes live on an exchange and sees hundreds of BTC volume in the same amount of time.

Same thing when LTC was added to the major Chinese exchanges, hundreds of BTC worth traded within hours of it going live.

It's just not a valid excuse, sorry.

[fluffypony]

And y'all crying saying "the XMR markets have only been up for some hours," you must not have ever seen what happens when a pump and dump coin goes live on an exchange and sees hundreds of BTC volume in the same amount of time.

Same thing when LTC was added to the major Chinese exchanges, hundreds of BTC worth traded within hours of it going live.

It's just not a valid excuse, sorry.

The XMR/BTC pair on Poloniex alone did 330 BTC in trade volume over the last 24 hours. In the same period, HitBTC did 51 BTC on the XMR/BTC pair, Bittrex did 47 BTC on the XMR/BTC pair, Mintpal did 24 BTC on the XMR/BTC pair, and Bter did 20 BTC on the XMR/BTC pair. That's a combined total of over 470 BTC in trade in 24 hours. This precludes the Poloniex announcement, and is nothing new. It's no wonder that this is the state of the Monero right now from a trading perspective:

Now, the markets we're both talking about are completely new trading pairs: BCN/XMR, DIEM/XMR, DRK/XMR, IFC/XMR, MAID/XMR, NXT/XMR, and QORA/XMR. This is new and unprecedented, and is not a pump-and-dump - it's a natural progression. Instead of attacking and dismissing it, why don't you spend a bit of time researching Monero and figuring out what - if anything - makes it appealing. It's not cloned from Bitcoin, which immediately separates it from 99.9% of the cryptocurrencies that are released, and (let's be pragmatic) separates it from Litecoin. That fact alone makes it worth of some consideration.

[statdude]

And y'all crying saying "the XMR markets have only been up for some hours," you must not have ever seen what happens when a pump and dump coin goes live on an exchange and sees hundreds of BTC volume in the same amount of time.

Same thing when LTC was added to the major Chinese exchanges, hundreds of BTC worth traded within hours of it going live.

It's just not a valid excuse, sorry.

Wow, nobody cares about your pump and dump coins.

XMR is not a pump and dump.

In any case, don't bother with this guy Fluffy, he's lost to us.

[Zer0Sum]

And y'all crying saying "the XMR markets have only been up for some hours," you must not have ever seen what happens when a pump and dump coin goes live on an exchange and sees hundreds of BTC volume in the same amount of time.

Same thing when LTC was added to the major Chinese exchanges, hundreds of BTC worth traded within hours of it going live.

It's just not a valid excuse, sorry.

Wow, nobody cares about your pump and dump coins.

XMR is not a pump and dump.

In any case, don't bother with this guy Fluffy, he's lost to us.

Nobody said XMR was a pump and dump, dude.

Except for the actual PUMPERS actually PUMPING Monero in this thread....
And the PUMPERS led by Risto Pietila relentlessly PUMPING Monero is about 10 moderated threads here.

There needs to be a Monero sub-forum...
So actual objective info about XMR can still be posted in Alt Coin.

That said...
I trade XMR all day long for 2 months... and this has been a total non-event.

Poloniex is falling behind Mint, Bitt, and Cryptsy and is in BIG trouble...
They would be a Ghost Town without the Monero volume last 2 months.

So this is really a desperation ploy by Poloniex to remain the hub of XMR trading...
But that probably won't last or save them... and I'm saying that as a fan of PoloniEx.

[Bobsurplus]

i have no doubt it will be as popular as Cryptsy's XPM markets we laughed at way back on launch..

LOL..People still use that scam poloniex site?

[celestio]

i have no doubt it will be as popular as Cryptsy's XPM markets we laughed at way back on launch..

LOL..People still use that scam poloniex site?

You make no sense..

BTC-E was hacked, Mintpal was Hacked. They both had a substantial amount of btc taken(over 3,000 btc lost for Mintpal and they had to do a rollback..).

Poloniex only lost 15 btc, and already paid it back to all its customers....It's interface is also much better than Mintpals and way better than that dinosaur's own, btce.

[celestio]

That's pretty damn cool. I'm waiting for my BTC to arrive!! Going to buy up as much moneros as I can.