Thanks for that info , Magic, We've been waiting it for long time 😊
Thanks. As you know Magi dev, team and community stays active. Some awesome developments will take more time.  More developments are in progress. |
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Wonderful  give us more info mate! More info will follow! Thanks for the good work! Awesome picture.  |
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Goed nieuws voor Magi.
Magi android app is in ontwikkeling.
Release oktober 2015!
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Awesome news: Magi app is in development.
Release October 2015! |
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is this coin still good to mine with cpu?
Yes it still is! Welcome in our Magical Magi thread. Any questions just ask! |
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For our new members who would like to add our Magi sig here is the code: [center][b][url=https://bitcointalk.org/index.php?topic=735170.0/][color=blue][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique block reward | Coin Source: Trust Verified [ ★ ★ ★ ★ ★ ★ ★ ][/color]
[color=orange]Proud to be a member of the[/color] [color=black]Coin of the Magi XMG[/color] [color=orange]community. Come and join us![/color][/url]
[color=black]XMG: your own walletaddress [/color][/b][/center] been wanting to have a sig better than just my addy , thanks for saving me time You are welcome!  --------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Sweet Spot Magi Miner - Unleash the IDLE Power http://xmg.makejar.com/ |
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For our new members who would like to add our Magi sig here is the code: [center][b][url=https://bitcointalk.org/index.php?topic=735170.0/][color=blue][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique block reward | Coin Source: Trust Verified [ ★ ★ ★ ★ ★ ★ ★ ][/color]
[color=orange]Proud to be a member of the[/color] [color=black]Coin of the Magi XMG[/color] [color=orange]community. Come and join us![/color][/url]
[color=black]XMG: Your own walletaddress [/color][/b][/center] |
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If anyone here recently sent a 500 XMG transaction and it didn't go through (from the address 965Xfbtb...), that might be because you mis-typed the address and it went to one of my old mining addresses that I had forgotten about. I'm not going to bother sending it back or forwarding it elsewhere unless someone here either PMs me or posts proof that it's their address, but I do want to give the active members of the community a chance in case they made an honest mistake. (And I know it's a mistake because I've never given that or any address out.)
In that vein, I would recommend that anyone who is sending coins from their wallet should copy and paste the destination address and double check it before sending. If you accidentally hit backspace, don't trust yourself to remember capitalization!
Might be Joe, Spexx or me. I will check my transactions later today. I will get back on this. Was not me! |
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Hi folks. I just got back online after a temporary absence, so I have a lot to catch up on. I see there is talk about an updated POS system which sounds interesting. My immediate thought on this is "keep it as simple as possible" for the end user. This whole business of having to send one's coins to oneself every so often is a pain on several levels. Mobile wallet is a good idea, but having spoken to somebody experienced with mobile devices (quite a few times) I have reservations about staking on the move. Staking is a form of mining which uses energy and we might have issues with heat generation and battery life, particularly with smaller devices. I have Windows software in the pipeline which gives me a type of "mobile wallet" i.e. I can have the software and blockchain on a memory stick, plug that into any Windows PC that I encounter and be up and running almost straightaway. I am doing exactly that right now  My current situation means that I am using this often and thus giving it a good testing "in the field". It works well enough but still needs some clunkiness removed, some creases ironed out, a shave and a good haircut before release. I am not sure yet when I will be able to settle into a new place and complete this software, but efforts continue. I still have some catching up to do on this thread ... Sounds good Spexx. Looking forward to your releases! Keep us informed about the progress. |
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because the reward reduction happens to delayed people with access to botnets or GPU miners can ride the waves and
the goal of reward reduction turn 180° and work against the small miner and not for them
because the spike/wave style miner dont mine when rewards are low
and "everyday joe" who mine with a few CPU 24/7 mine even at low rewards keep network ruining
what we have now is we punish AFTER the "crime" happened and not the guy who did do the crime but everyone
we need a way that make spike mining unattractive
one would be just shift low of coin rollout to POS and keep POW "just" as added hybrid security
constant mininers should be earn most of their rewards by PoM campains and not froim the real blockreward
the basic POW blockreward should be so low that it attract no abuser
the PoM campains should be funded by fat staking for mining POS wallet
just my ideas how u could solve the problem
but i guess we are in the brainstorming phase so it fits to share my ideas now
Thanks again for your ideas Cryptonit! |
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If anyone here recently sent a 500 XMG transaction and it didn't go through (from the address 965Xfbtb...), that might be because you mis-typed the address and it went to one of my old mining addresses that I had forgotten about. I'm not going to bother sending it back or forwarding it elsewhere unless someone here either PMs me or posts proof that it's their address, but I do want to give the active members of the community a chance in case they made an honest mistake. (And I know it's a mistake because I've never given that or any address out.)
In that vein, I would recommend that anyone who is sending coins from their wallet should copy and paste the destination address and double check it before sending. If you accidentally hit backspace, don't trust yourself to remember capitalization!
Might be Joe, Spexx or me. I will check my transactions later today. I will get back on this. |
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It is called Magic(111) stake guys! Remember!! Yes thats right! It will happen sometimes! I got a tip too, thank you! i can confirm that they are doing a great job, i mean that @111magic tip not only to you, he did it so many times to lot of different ppl, mostly because those ppl help, in some way, to grow up this community or they are just so helpfull; in some way is like helping ourself since we are already involve in this awesome community So yes guys, they are really thankful as you can see Thanks for the nice words! Always good to hear good feedback from our awesome Magi community! |
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It is called Magic(111) stake guys! Remember!! Yes thats right! It will happen sometimes! I got a tip too, thank you! Lol. Think there are more people who received a tip here. It's always good to have Magi (XMG) walletaddress in your signature. |
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Thanks for your comment.
Magi appreciates feedback from the community!
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I think that is probably the best option. I don't think huge changes are needed for PoS-III, but only improve the rate for small stakers. Earning 0.01 XMG by staking 1000 XMG is a small reward, and is less than a PoW block would be to confirm the same number of transactions. PoS rewards being too high defiantly cause inflation and the price to drop, but so can the PoW reward being too high. What is also important is market perception. The stake rate should be high enough that people think that the rewards are worth it so they have the desire to buy more, but not so high that price stability is a concern.
I don't think that increasing the reward on small blocks will increase inflation, mainly because it will encourage people to split their blocks smaller and stake with a lot of small blocks. This will create a liquidity trap because all the blocks will not stake and mature at the same time. If someone with lots of small blocks wants to sell any significant amount, they will have to destroy weight and spend blocks that have not yet staked, which will keep actual rewards earned much less then if they would have not sold. I think raising the stake rate for small blocks will encourage more small miners to keep what they mine, and could actually increase buy support because more people will want to buy and keep small amounts in their personal wallets.
You're right inflation won't be a big concern compared to other things affecting the price. People are actually getting the same type of blocks with the reward calculated in terms of: [PoS-block-reward] = [Coin-age] x APR / [days in a year] What we can play around are the coin age and APR; based on that, there would be no good solutions to "improve the rate for small stakers". One way to have "big" or "small" block is to apply high APR for small stake holders and low APR for big holders; however, big holders can divide their holding into small pieces, say launching 10 wallets instead of all in one wallets, and appear to be small stakers. So it won't be a practical solution. The PoS-II deals with the coin age; one has to maintain a proper number of coins to maximize [Coin-age], so does the [PoS-block-reward]; this is an extra effort, and I believe we can do some thing more along this point. Is the [Coin-age] = [blocksize] * [age] ? Well i don't know too much about coding, but could you add a line like: IF [PoS-block-reward] < 0.1 AND [Coin-age] < 200 THEN [PoS-block-reward]=[PoS-block-reward]*4 This might not be exactly right, but if a 100 XMG block stakes in under two days it would get a higher reward. Increasing the block reward for small blocks will definitely encourage big holders to divide their coins into small pieces. I think that this will be a good thing for the long term. Suppose someone has 10,000 XMG and divide it into 100 XMG blocks to maximize stake earnings. They find a PoS block and get a 0.1 XMG reward, instead of the 0.025 XMG reward that they would currently get. The amount of their total coins that staked is 1%. After the PoS block matures, to go on and sell their total balance of 10,000.1 they would have to spend the weight of the 99% of their coins that have not yet staked. The extra 0.075 XMG reward from the single block is actually less of a total reward then what would be earned if all 10,000 XMG staked all at once at the lower rate. I think that smaller blocks getting a higher reward will therefore discourage dumping, because it creates an opportunity cost of lost PoS reward for selling coins with a higher coin-age. Very good thinking along fragilefungi. Thats really nice to see! |
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It is called Magic(111) stake guys! Remember!! Yes thats right! It will happen sometimes! |
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price is going down every days.... make me want to sell all my magi coin
Price has been lower some time ago. I have 100% trust in Magi and his Dev, Community and team. i think faucet make the price down... to many people sell magi coin in small item look in sell history on bitrex There are only two faucets that have reasonable payouts, cryptospout.com and magi.steep.rocks. I am 99.9% sure that the faucets are actually making the price higher then it otherwise would be. I am actually the one who suggested to the community that we try to get xmg on cryptospout, which was a great thing in my opinion. The site operator buys xmg with btc earned from ad revenue to continue payouts. This buy pressure makes the price go up. I do the faucets almost everyday and I keep the xmg to stake. If more people used the faucets and then kept the magi coins, the price will go up because more outside money from advertising will be going into the coin. Hope to share info about another Magi faucet soon!
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