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Congratulations to those who still hold MagiCoin, congratulations to all the Hodlers. Thank you for having so much desire to lose MONEY and thank you for putting up with so much a project that your own and only developer abandoned. Yes, soon it will be delisted by bittrex, only that bittrex does not look at it, it is a currency so bad that it goes unnoticed: D
Thanks to Bitcoin for removing so much garbage from the road, this year several coins will disappear including this one. Want to see something nice?
Not even a coin recently released to the market has such a dead volume, sincerely XMG that in peace rest  More info? ATH MARKET CAP $12.98MCURRENT MARKET CAP $669.24Khttps://athcoinindex.com/currencies/magiSomething else, XMG was a currency that Bittrex had in mind to delist, We all know that Bittrex is the exchange where COIN OF MAGI IS MORE MARKETED, Imagine that if this currency is delisted DIRECTLY DIES; for some strange reason (such a ticket in between) this did not happen, but it is proven that a year ago it was about to disappear The test in the following linkhttps://support.bittrex.com/hc/en-us/articles/115001455187-Pending-Market-Removals-01-27-17in the last position you see BTC-XMGThe same exchange comments:
"The average minimum volume requirement in December 2016 increased to 0.5 BTC per day, and any marked market will have to obtain its average volume for a period of 14 days up to 0.5 BTC."That has not been delisted in a simple MIRACLE Oh look, an account made for to FUD Magi. Buying more  In 2016 0.5 btc daily volume was around 300 usd equivalent. 100% FUD. EDIT: Oh and Magi being not delisted is NOT a miracle, its MAGIC.  EDIT#2: I take back my accusation of your account and apologize for what i said about the purpose of it, i am sorry. |
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Thanks for your work OP!
People should definitely consider giving a chance to it.
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Is CoinMagi the only coin using the m7m hash? I've looked in a few places and don't seem to find other coins using this algo.
If I remember correctly NOBL (noblecoin) changed their mining algo to m7m at some point, but now it's full PoS. (using Magi's PoSii today) |
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Everything depends on the books in my opinion. If you can take a big sell order in one shot just take it and make the seller cry later.
Right now maybe creating buy orders around 1800 sats and kindly waiting for sellers to fill orders seems a great idea.
Well I will scrape some ETH together until next week(I know that is like years in Crypto, but ...yeah... long story...  ), lets see if this time this makes a dent in the coinmarketcap Graph. Although setting a buy order around 1800 sat would, at best stop pump & bump, since the price is recovering from the effect of the falling market, or?  Always have stinking bids to grab some cheap when someone rage quits the market. And if you miss the opportunity, its much easier and less risky to buy into an uptrend than into a down trend. |
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Indeed - Magi has survived may downturns in the past - and came out at the other end, IMO multitudes of negative comments are worse for the coin than lack of dev activity, check Lisk in its early days one person being negative brought the price down to 7000 sat, personally, if I were developing, I'd be much less inclined to spend my spare time working for a negative community
Like we said just after the last pump, XMG mostly goes back to around 1800 sat before the next pump.  So, be prepared!  prepared to sell? or...? anyway, all coins are doing relatively bad indeed. Well I won't sell UNDER 0.5 btc , so I am scrapping my money together for a BUY. btw.: what is better for the price a bulk BUY on one time, or small incremental buy's over some day's? AND would 4 - 6 ETH even make a dent, or should It be way higher? Everything depends on the books in my opinion. If you can take a big sell order in one shot just take it and make the seller cry later. Right now maybe creating buy orders around 1800 sats and kindly waiting for sellers to fill orders seems a great idea. |
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I'm still not sure what constitutes as over-mining.
Am I over-mining if I have a Threadripper 1950X, 4770K, 4650K, and a few Core 2 Duos and Pentium G CPUs on zPool?
Should I split them up to different pools instead?
Can I try my hand on solo mining? Better to proxy them or let them do it individually (even the slow miners such as Core2 Duos and Pentium G)?
While I understand this was done to deter botnets, it really puts some concerns for people who has lots of spare resources (not botnet, just 10-20 PCs).
FYI - GPU mining rigs with low-powered CPUs (want' to use the CPUs for m7m mining). More powerful cpus are production machines (my gaming PC, my media center PC, and my test PC), but since they're not being used allthe time, I want to use them to mine while I'm not actively using them.
In total, I can produce 1.2 - 1.5 MH/s
Too much?
Yes it is too much. Magi block rewards are difficulty dependant. As far as I understand mPoW it is not competitive more like co-operative. Miners should be focusing on keeping the total network hash rate at a certain range to maximize mining rewards. This means adding/removing hash rate collectively when its needed. Read this carefully: https://bitcointalk.org/index.php?topic=735170.msg9991269#msg9991269If anyone finds any error in what i wrote please feel free to correct me. Gogo magi!! |
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Is there anyone running a fully synced android wallet?
My wallet has 0 connections. Please help me sync it.
Staking android wallet is actually a good idea.
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the whole thing doesn't make any sense ans there is no logic in it. It is only hurting miners with standard hash rates who will be punished for those of very high rates. Mining at low Kh (20...100) and helping the network will barely generate coins. check the net hashrate and how it jumped!!  This is the reason why i think magi has to come up with a better solution than decreasing reward according to hashrate. I think magi should implement some kind of better anti farm mechanics. For example solo only mining where the system is able to detect big miners so they would receive smaller rewards. (yes pools would become obsolete but heck it pools are for other coins) Bitcoin is growing because hashrate and difficulty are growing. This way magi hashrate and diff could grow too. |
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Magi is aware of this and its an item on the Magi Roadmap. Big miners will look for fast profit. If the unique blockreward system drops the rewards it will not give them enough profit & they will move to other coins.
The idea of Magi is to be more fair than other currencies like btc or others. Everybody in the world can mine Magi with a simple computer. So everybody can earn some XMG. In the world a $ gives different value. For somebody its not much and for others its a lot. With other currencies you need money to get more money. So if you have a huge miningfarm you can collect more money with mining btc. The rich get richer.
Sure Magi will need more improvements in the future but remember Magi team is not huge & it will take time to find the end point were all things will be as Magi likes it to be.
Personal i'am with Magi from the start. I'am not looking for fast money (gave more than 100k XMG away with campaigns & give-aways) but i like the whole idea about Magi.
If Magi can achieve this goal than whole world will look at this unique decentralized currency.
Everybody who liked the help with this feel welcome!
Regards
111magic
And that is why i am giving XMG a full article in a local blog introducing it as a starter coin for others to learn about mining where almost no one knows anything about coins. Hopefully Joe can figure out how to penalize a single high hash miner but that will affect pools too and probably will distribute pool usage and make the coins more decentralized or make it more attractive to small time solo miner. Hi, I must admit I am a Magi fan since its launch, it is a promising coin with focus on decentralization and fairness. It is in constant development and I fully agree with you. We must somehow find a way to penalize big miners while small miners could still earn their Magi, because the current reward system takes away from everyone not just from those who are trying to put big hash on the network. Other thing I fully agree with you is that Magi should become SOLO ONLY mining coin. Maybe Joe thinks about this sometime soon. cheers |
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Any idea what caused the fork?
I wrote to Bittrex to stop their wallet, no answers yet, but their wallet says: 'The last block update occurred 997 minutes ago.'
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Bittrex wallet is online again.
Last block update was 35 minutes ago. Yes I noticed it too. Right now its 40 minutes. I would be cautious sending any Magi to Bittrex until things aren't smooth again. |
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Bittrex wallet is online again.
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As it is strange, in a coin a few days ago, someone invested 250 bitcoins, and the price again returned to the previous place
As far as I know it was a pump n dump, but who knows for sure, right? Maybe someone bought some. For now anyways 3500 satoshi price is a good buy opportunity IMO (maybe it will get lower to 2900 - 1900 area), so please don't buy in just because someone on the internet told you so. |
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Just started the "HODL movement" in telegram groups and the coin they choose is XMG.
What do you guys think about this?
can you give link to that group, please? |
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He mozsi you have the XMG sign here: ∑
How do you get that one?
unicode 2211 http://www.fileformat.info/info/unicode/char/2211/index.htmi think on windows u press alt and while holding type 2211 on num pad on mac you bring up emoji and symbols viewer and look for mathematics symbols and there is ∑ |
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Interesting market dynamics today - the market can't decide if Magi should be 4000 or 6000 satoshis - think there is a lot of volatility due to the bitcoin price
Very interesting price movement indeed. How I see it is the following: You have 100 btc to buy magi. We know it cannot be done by simply market buying without pushing up prices hard, so you need to slowly buy up a little and let sellers dump on your bids. Repeat. ∑ |
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I think Magi can really take off on yobit - if there is enough supply available, I've put as much XMG there as my trading strategy will allow. I wish the best for you at Yobit, I will never deposit there because I don't trust that service at all. Do you have a bad experience there? Yes. Their support is bad, their wallets usually get down when you want do withdraw, and many more things that make that exchange very shady, just look around pro crypto traders, most of them avoid yobit. |
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It will come in time Hefty.
Btw the total amount of sell is almost equal as the buy amount. What will happen if the buy amount will be higher? Mean on Bittrex.
Supply vs demand. My experience tells me that when buy orders get higher than sell orders as you said, price goes up. |
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I think Magi can really take off on yobit - if there is enough supply available, I've put as much XMG there as my trading strategy will allow. I wish the best for you at Yobit, I will never deposit there because I don't trust that service at all. |
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Yeah slow and stable growth is best, i hope many ppl invest now with low amounts few hundreds up to few k. Fair spread, even bigger decentralization and growth of community is worth more than fast growth in $ if net hash is lower by 30000 kh biggest miner and lowest would get 200% more coins than they can mine now, greediness is not profitable with Magi, but some ppl just cant get that  I am stoked that miners still didnt learn how magi distribution model works. Maybe they know it, but as you say greed is ruining their income |
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