Great, 25k magi for the 2nd PoI, let's hope some investor build those number up! I have run experiments with 1000 XMG and up to 50,000 XMG in one wallet and the return seems consistent at 2% equivalent APR provided that the staking is carried out correctly as described above. I understood that large holdings were supposed to generate less reward, but this does not seem to be the case. My next experiment will be with 100,000 XMG in one wallet. All donations for this noble experiment will be very much appreciated ... not there yet  For science of course!! All in the name of Science! I realize that staking at such high levels means that there is a risk of spontaneous combustion. There is even a finite probability of generating a quantum singularity or mini black hole and the entire Earth could disappear as the fabric of space-time is torn apart, but it's a risk I'm willing to take for the sake of mankind. I also need to perform the experiment as part of my dissertation for a PhD in Avarice. Haha you are our Magi hero!! BTW Magi passed another coin on Cryptsy coinvoting!! Magi is now on spot 11! Keep up the voting and lets bring Magi in the top 10 there!! https://www.cryptsy.com/coinvotesBTW little sad for orangecoin because they paid a lot for their votes! |
|
|
|
Great S3cco. Thank you very much for supporting our Magical Magi community! |
|
|
|
Awesome thank you very much! |
|
|
|
A couple questions regarding the PoM campaign. I applied today and saw the previous posts, did I miss the boat? Also is having an average of 26-28 khash/second an acceptable amount? I saw that it said to have 100khash but was wondering if it is still ok for people with a lower hash rate to join, also I wasn't sure what to ask for a reward like it asked so I put that I wanted something reasonable to the rate I could mine with for a reward request.
You did not miss this campaign because it is still running. Think whatever hashrate you have its always nice to receive some free XMG |
|
|
|
On the bitcoingarden page, no "reply" button appears so I cannot post anything there  Amigo registration will be open at 01-07-2015!  |
|
|
|
Magi XMG Proof of Interest II 2015 Launch 01-08-2015 Coin of the Magi the next generation digital currency! twitter @103tango Banks do give interest but not very much! Magi does this better!
The Coin of the Magi is the digital currency of the future, fair unique and for all people living everywhere!
Rules for the Magi Proof of Interest II 2015!The base is very simple.
Time period: The Proof of Interest will last two months.
When can I register to participate? Registration will be open: 01-07-2015
How do I sign up? Tell me that you want to join the PoI here: http://bitcoingarden.tk/forum/index.php?topic=3990.msg93574#msg93574 Registration is done by posting your XMG address replying here on Bitcoingarden or PM me here or in bitcoingarden.tk, cryptotalk.us, cryptos.us, cryptocointalk.com & altcoinsfoundation.com
What information should I include? Write your participating wallet XMG address in a reply here: http://bitcoingarden.tk/forum/index.php?topic=3990.msg93574#msg93574 (only one address allowed to join, all addresses will be made public at the end of registration in interest of fairness of the campaign.)
(only one address a person allowed to join)
The team will check the address's initial balance, and that balance will start participating in the PoI. (After confirmation participant)
When will I receive my interest? Interest will be paid on 01-10-2015
What happens if I have more XMG in my wallet on 01-10-2015? You will receive interest on the amount present in your wallet on that date. (Advantage participant)
What happens if I have less XMG in my wallet on 01-10-2015?
You will not receive any interest from campaign, if your initial balance has decreased more than 15% at the campaigns end! (Drawback participant)
What happens if I XMG have used to pay for goods? This has no negative effect on your interest. (Receipt required)
How will be interest distributed? The interest will be distributed by means of a specific calculation. This can be influenced by the number of participants, level of the fund and total number of coins that participate.Team will check addresses random and record the coins in that address. Based on that the interest calculation will be done!
Who will pay the interest for this Proof of Interest campaign? I received the donation of 25,000 XMG.
(For the second time! Love this guy)
On his request, the donor will remain anonymous! Payouts will be done by me.
Interest will be paid to the designated address wallet.
Changes of participating address during the Proof of Interest is possible only once per user in the two months period (changing is not advisable, though).
Exchanges or wallet address on an exchange are excluded from participation.
NOTE: The team reserves it's right to send a warning to a drawback member, that his balance is decrease more than 15% on their regular random balance checks.
If you have questions don't hesitate just ask me.
|
|
|
|
Magi XMG Proof of Interest II 2015 Launch 01-08-2015 Coin of the Magi the next generation digital currency! twitter @103tango Banks do give interest but not very much! Magi does this better!
The Coin of the Magi is the digital currency of the future, fair unique and for all people living everywhere!
Rules for the Magi Proof of Interest II 2015!The base is very simple.
Time period: The Proof of Interest will last two months.
When can I register to participate? Registration will be open: 01-07-2015
How do I sign up? Tell me that you want to join the PoI here: http://bitcoingarden.tk/forum/index.php?topic=3990.msg93574#msg93574 Registration is done by posting your XMG address replying here on Bitcoingarden or PM me here or in bitcoingarden.tk, cryptotalk.us, cryptos.us, cryptocointalk.com & altcoinsfoundation.com
What information should I include? Write your participating wallet XMG address in a reply here: http://bitcoingarden.tk/forum/index.php?topic=3990.msg93574#msg93574 (only one address allowed to join, all addresses will be made public at the end of registration in interest of fairness of the campaign.)
(only one address a person allowed to join)
The team will check the address's initial balance, and that balance will start participating in the PoI. (After confirmation participant)
When will I receive my interest? Interest will be paid on 01-10-2015
What happens if I have more XMG in my wallet on 01-10-2015? You will receive interest on the amount present in your wallet on that date. (Advantage participant)
What happens if I have less XMG in my wallet on 01-10-2015?
You will not receive any interest from campaign, if your initial balance has decreased more than 15% at the campaigns end! (Drawback participant)
What happens if I XMG have used to pay for goods? This has no negative effect on your interest. (Receipt required)
How will be interest distributed? The interest will be distributed by means of a specific calculation. This can be influenced by the number of participants, level of the fund and total number of coins that participate.Team will check addresses random and record the coins in that address. Based on that the interest calculation will be done!
Who will pay the interest for this Proof of Interest campaign? I received the donation of 25,000 XMG.
(For the second time! Love this guy)
On his request, the donor will remain anonymous! Payouts will be done by me.
Interest will be paid to the designated address wallet.
Changes of participating address during the Proof of Interest is possible only once per user in the two months period (changing is not advisable, though).
Exchanges or wallet address on an exchange are excluded from participation.
NOTE: The team reserves it's right to send a warning to a drawback member, that his balance is decrease more than 15% on their regular random balance checks.
If you have questions don't hesitate just ask me.
|
|
|
|
Magi XMG is not on that exchange!  |
|
|
|
2nd POM ends today??
No the PoM will continue. But for people registered at this date 2 months ago the first payouts will be done asap. Nice, is there an estimate of how much? Thanks! Not yet amigo. Iam waiting for fund from Joe. If it takes too long I will do the payouts out of my own wallet. |
|
|
|
Are the both pools active for the PoM2 Yes they are! |
|
|
|
I just registered and am undermining the new pool, I had registered for the POM on the old pool have to redo the recording? my username is paolo77 in the pool !!
Just for all some information: Magi has now 2 pools for the PoM!! 1st pool from Historical https://pom.m-hash.com/2nd pool from Lahlor https://xmg.cloud2b.de/If you are using the 1st pool you don't have to switch. If you start mining Magi for the first time you can choose with pool you like to join! Hope all Magi pools would join the maximum hashrate in the future! Better results with the MQW/ unique blockreward system. |
|
|
|
What is PoM?PoM - Proof of Mining; in simple, the magi team rewards commensurate coins to every participant in this campaign, in accordance with your CPU hashrate invested into mining XMG. PoM is also a built-in feature of XMG, thanks to the block reward design (see this link for more information). A detail explanation is shown below: What is POM ?
Good question; no one was questioning this before, though we're talking "CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay]". PoM has more meaning (since we're advising 1st PoM) than a single campaign as done before (which was an approach to protect coin distribution): https://bitcointalk.org/index.php?topic=802681.0; some details here: http://arxiv.org/pdf/1409.7948v1.pdfPoM - proof of mining; by it's definition, the more mining efforts being placed, the more rewards one gets. This is typically right in mining any coins, while it's particularly emphasized in Magi (on individuals' participation), because of the design of PoW block reward. A simple description of the block reward is that it decreases with increasing network hashrate, and may hit zero when network hash is significantly high. A consequence of this is big miners get frustrated. If one is familiar with the block reward ( https://bitcointalk.org/index.php?topic=735170.msg9991269#msg9991269), you will see block reward could be easily hitting zero. A point here, which was also being argued among people, is who will exit if mining nothing? This is where PoM campaign will be functioning. The campaign will encourage people to keep mining by rewarding despite the amount of block reward. To understand the purpose of the PoM campaign , we can see what happens if we're on the opposite situation - what if generic miners quit first?: 1) big miners keep mining, 2) because of miners quitting, network hash getting low, block reward increasing, and big miners get rewarded more! So now you see PoM campaign is trying to protect the network and to ensure FAIR coin distribution. To the individuals, PoM means one will receive better rewarding by long term mining. Provided that we, the generic miners, form a solid league, won't give up mining in any situation. One will receive less mining share if big miners are present since they have more hash weight over the rest of miners. It should be noted, however, that coin distribution is pretty much protected by the significantly reduced block reward, as much less coins will be mined in this case. At the time of big miners' leaving, network hash decreasing, not only one gets higher mining share, but also the block reward is high. Then you know why Magi can achieve the FAIRness in coin distribution. The XMG's block reward design has to bring the network hashrate into an equilibrium which would never go a very high or low number. Though the equilibrium state is strongly affected by the coin price, it is anticipated that the total hashrate could stay an appropriate level. This is a good feature to avoid huge waste of electricity consumed in the Bitcoin or other Altcoin's network. However, the weakness lies in the fact that one can gain reasonably high hashrate to dominate over the rest of the network. Although this is undesirable feature, we have taken a strategy, i.e., the PoM campaign, to avoid big-hash miners. In general, people mine for profits, that means miners leave when they are unsatisfied with mining rewards. The PoM campaign encourages the persistence of generic miners by giving away a certain amount of coins to each participant. So one will receive mining reward plus PoM campaign reward. Even mining gets zero reward, one will receive the benefit from this campaign. To the XMG network, we will have a fixed number of people mining around to compete the big-hash miners. In normal situation, people would quit after mining something without a reasonable ROI. This is primarily the reason of this campaign, and it is anticipated that the generic miners will maximize their shares. What does "2nd PoM" mean?The initial PoM (1st) is launched here: https://bitcointalk.org/index.php?topic=802681.0. DurationAbout two months. Participation & Rules# http://minerclaim.net/index.php?page=contactform&action= Fill in this contactform and give username you use in the pool. # You must mine with your CPU and total hashrate not exceeding 250 kh/s. Pool rulehttp://minerclaim.net/index.php is our second official pool (created and managed by Lahlor) designed for PoM; mining hashrate higher than 250 kh/s is not allowed. Warning will be giving to people who put miners exceeding 250 kh/s, followed by account locking and worker removal if hashrate is not depressing upon warning. RewardWe have a certain amount of pre-set funds available at this time, and intend to get more funds. The funds will be distributed into all of the participants. The following will affect the amount of coins one will receive. # The number of participants; # The reward will be proportional to 1) hashrate (up to 250 kh/s) 2) mining duration (we will make sure the method of how-to-calculate soon) PoM Funds
Funds raised up by donations (to be listed); total funds: 23,088.0 XMG
All further donations will be added up to the funds:
99TPno3sPeUfDh9tq4To7xkLAYNQV1Qri1
No deadline for participation
Earlier participants receive higher reward
|
|
|
|
I've noticed there aren't (with the exception of http://magi.steep.rocks/) any XMG faucets.. how come? How much work would it be to set up my own faucet? Are there any off-the-shelf solutions like those that exist for bitcoin and other cryptocoins? There are 3 actually, check the end of my article i have a list of them. http://thdim.istothesis.com/mining-your-first-coin/But your question is actually very interesting, i would like to know as well how someone can build a faucet in xmg and if there is a ready solution for that. Check this tweet more faucets! https://twitter.com/103tango/status/608697348491984896There is another one. Post this one later! |
|
|
|
I've noticed there aren't (with the exception of http://magi.steep.rocks/) any XMG faucets.. how come? How much work would it be to set up my own faucet? Are there any off-the-shelf solutions like those that exist for bitcoin and other cryptocoins? Yes there are more faucet. I will post them later. At a wedding atm |
|
|
|
Hey fellow Magi guys and gals. Long time lurker here - I've finally registered Spexx I wanted to ask, where did you get that screenshot? Up to now I've pretty much just been mining and selling my XMG but might start staking properly now... in the past on a few hundred XMG I'd only see fractions of an XMG every few days  Hi there and welcome to this Magical community. That screenshot comes from https://chainz.cryptoid.info/xmg/#!extractionA few hundred XMG does not carry a lot of weight, even when staked efficiently, so you will need a fair bit more XMG to start seeing more regular POS payouts. You need something in the region of 20K XMG to get about 1 XMG per day from staking. When you have that much staking correctly, the constant notifications about incoming transactions become a nuisance I guess it's time for a POS campaign, magi111? Does anyone knows what's the size of the pos block? Does your cpu have any kind of influence on the pos block or the staking reward? (looking at the figures it should not) And spexx, why is your staking going extremely up and down? Good idea the Frisian! I will take a look at some options for that! (PoS-II campaign) |
|
|
|
Yes it is  Hey fellow Magi guys and gals. Long time lurker here - I've finally registered Spexx I wanted to ask, where did you get that screenshot? Up to now I've pretty much just been mining and selling my XMG but might start staking properly now... in the past on a few hundred XMG I'd only see fractions of an XMG every few days Lol always nice to see a reader ( lurker) join our Magical Magi community! Welcome k1lo! |
|
|
|
|
Show Posts
