Panic selling is always the worst way of trading, he can gain at least x1.5 of what he sold by selling bit by bit. People can buy low though.

That is a mistake; the block value calculated is actually for blocks after hardfork. It doesn't matter any more since hardfork has happened. To be clear I made a change (v1.2.0.6); the calculation remains the same. Also changed the blockvalue section as blow:
blockvalue replies on difficulty-V2 that is evaluated by the algo mentioned in the updates.

It sounds disappointing but we have to postpone. I will let you know when it's ready to be public ASAP.

Paid out PoM rewards today..

I hope people are not just happy with the earnings (actually guess complaints coming too), and also that's not a good sign too. It's like one mines coins easily, is that good? very much depends. Anyway, PoS-II is on the right way, we'll see how it's doing.

Nice work, Spexx.

Wolf, you're welcome to do so; also I'll welcome GPU if anybody could do. Well, I don't want to freak out all CPU miners because of this possibility or possible existing GPU miners already.

People mining XMG should take a look at it's block reward design. Don't mine too hard, or PoW blocks will stop yielding coins (block chain still going). Different people have different understanding though, check out the paper (need update upon the coming hardfork, but the same concept applies).

http://arxiv.org/abs/1409.7948

The reward is designed best at the CPU mining level. Anyone fire up CPU farm or GPU may push reward towards a trivial level. The coming hard fork will tailor the reward at a much accurate level.

Remember, the more CPU miners (not too high hashrate though), the more secure of the reward. The more GPU miners (let's say in the future and assuming they have significantly high hashrate), no actual rewards will be yielded.  

Please remember to update your wallet above v1.2.0:

Details: https://bitcointalk.org/index.php?topic=735170.msg9991269#msg9991269

p.s., I am actually keen to see how magi's block reward design could cut down ASIC miners in a scrypt coin.

will talk a look at that sometime. thanks for updates..

Thanks for the work, mate, that's awesome.

MagiPay internal tests; https://bitcointalk.org/index.php?topic=735170.msg10039030#msg10039030

We have done a few tests; the backend works as expected.

# Merchant creates a payment through m-epays website
The details are for accepting coins paid by buyers:


# MagiPay box
This is basically seen as a web page right now:


# Pay the amount by sending coins to the above address
After 6 confirmations, the above link automatically changes to the follow page; coins show up in merchants' wallet as well:


# Details of above transaction
Price: 48.66821918 XMG
Coins buyer paid:  48.66831918 XMG
Coins merchant received:  48.66821918 XMG
The difference 0.0001 XMG is the mining fee, which is taken care of by the buyers. Merchants get what the item is priced, so basically 0% charge.

We need improvements to facilitate user experience, a more user friendly interface, and also easy use to merchants. Expected merchant's test will be initiated on the 7th.

Please suggest any improvements we need to include.

[MagiPay internal tests]

A little thoughts before the update, personally I am satisfied with the current implementation of magi. What puzzled me regarding what a coin looks like are nearly addressed in the design.

I have a good vision of magi as long as the crypto is on the track, though magi is not a completely new system but constructed based upon bitcoin/litecoin/ppcoin. We've touched both the PoW and PoS, # CPU minable # Minable available to a broad audience, fair distribution (either mining or staking) #Most secured PoS coin # Energy efficient. All of these are treasures of magi. Please be aware of the energy-efficient argument that can be something big.  

Relying on the fundamental implementations, very much needed from now on are (speaking from getting and spending XMG point of view):

# a variety of miners: to be used in various systems, linux/mac os/windows/unix, apparently; specific focus is given to easy use, like wallet built-in miners / web page miners, and miners for smart devices;
# payment like the magipay which plugs in at the first place, and a marketplace we may focus on in the near future;
# apps that assist mining/spending.

It's hard to imagine what magi looks like in the future, nether do I. An apparent fact is that magi is very much different from the beginning, that's one of the reasons I can't tell. I am neither a software developer nor a business man, but mostly doing good thinking stuffs. You know when you're researching something, you have to stick to that despite frustrations (always happened) and find solutions; that's particularly important and critical to a work published in a notable journal (e.g., Nature), that's a process I've been going through, so I understood it very well. The coin is not just about the dev's delivery, but the community. I wish community could take part of development outside the magi team, also call for more business ideas based on magi.

Alright, I am updating the MagiPay status. We have done a few tests; the backend works as expected.

# Merchant creates a payment through m-epays website
The details are for accepting coins paid by buyers:


# MagiPay box
This is basically seen as a web page right now:


# Pay the amount by sending coins to the above address
After 6 confirmations, the above link automatically changes to the follow page; coins show up in merchants' wallet as well:


# Details of above transaction
Price: 48.66821918 XMG
Coins buyer paid:  48.66831918 XMG
Coins merchant received:  48.66821918 XMG
The difference 0.0001 XMG is the mining fee, which is taken care of by the buyers. Merchants get what the item is priced, so basically 0% charge.

We need improvements to facilitate user experience, a more user friendly interface, and also easy use to merchants. Expected merchant's test will be initiated on the 7th.

Please suggest any improvements we need to include.

The crypto thing is ridiculous if you take seriously. It's even ironic despite whatever things in this world while it would never be like true.

You will love it when you take it as a hobby, hate it when you live on it.

Nothing lasts long, maybe things picked with passive attitude at a level you never need to care about it are the exception. Don't expect a return by doing something intentionally, we will find us how rich we are one day. Am I an idealist?   

I agree, even though I am not a dutchman.

Mac OS X wallet:
http://coinmagi.org/files/magi-release/Magi-Qt-1.2.0.3-macosx.dmg

will do, keep up with this thread.

Reposted the figures here for reference.

The right figure represents for the value of the quantity at the left side of the equation, which is [Coin-age], i.e., coins times age. M is only the value of age actually. The curves with the same color belong to the same staking amount; for example, the curve with red color (2000 XMG): dividing it by 2000 gets to the curve in the left figure. Hope this cleared the question, but feel free to let me know if that still puzzles you, or need any further explanation on the curves.

The white paper only contains the PoW part at this moment, will make up the PoS when I find the time.

magic is around as always; I missed Sam too, this is the holiday season anyways. There are a few other community members ex33s, jawitech and other two working with magi too.