[ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]

[Noruka]

Wow, price of XMG back on same level as 6 months ago,
just before the mega pump.

I was thinking the same thing - its very good price right now

it is, except if it goes lower and never comes back... and looking at magicoin issues, there are no reasons why it should go up again...

There have been other coins in the past that shot up without any reasons supporting the price movement, but it doesn't happen as often these days.

Will be interesting to see what happens - slightly more buy support than yesterday now - but not a huge amount - price can easily drop with somebody selling a few thousand magi

(but will easily rise again)

I'm running low on liquidity as all my alts are in the same boat

But that's the chicken and the egg problem for sure. Even if someone likes Magi, getting in with a large position doesn't make sense because you can't even get out properly if you wanted to.

[starmman]

But that's the chicken and the egg problem for sure. Even if someone likes Magi, getting in with a large position doesn't make sense because you can't even get out properly if you wanted to.

Seems to be a problem across lots of small alts right now, if history repeats itself and there is another rise - there will be enough fund to sell into, but I guess for now its a bit of a gamble

I've still been buying on the way down, if I lose, I'll lose.

[earl3000]

But that's the chicken and the egg problem for sure. Even if someone likes Magi, getting in with a large position doesn't make sense because you can't even get out properly if you wanted to.

But don't forget thank's to the PoS, in case of a Dipp just HODL. 

[exlover]

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

Thanks for your hints and valuable information on strong ability of MAGI over many hard time of crypto market.
Furthermore, negative news often appear when market downs.
It's normal instinct of crypto traders and fudsters, too.

[starmman]

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

Thanks for your hints and valuable information on strong ability of MAGI over many hard time of crypto market.
Furthermore, negative news often appear when market downs.
It's normal instinct of crypto traders and fudsters, too.

You are right - a downwards cycle can easily occur in these situations affecting both price and liquidity - Magi has overcome many downturns in the past, and certainly can again with a resilient community =)

[Noruka]

But that's the chicken and the egg problem for sure. Even if someone likes Magi, getting in with a large position doesn't make sense because you can't even get out properly if you wanted to.

Seems to be a problem across lots of small alts right now, if history repeats itself and there is another rise - there will be enough fund to sell into, but I guess for now its a bit of a gamble

I've still been buying on the way down, if I lose, I'll lose.

I like your attitude I think the same way, buying some alts where I really see potential and if it doesn't work out, it doesn't work out

[starmman]

But that's the chicken and the egg problem for sure. Even if someone likes Magi, getting in with a large position doesn't make sense because you can't even get out properly if you wanted to.

Seems to be a problem across lots of small alts right now, if history repeats itself and there is another rise - there will be enough fund to sell into, but I guess for now its a bit of a gamble

I've still been buying on the way down, if I lose, I'll lose.

I like your attitude I think the same way, buying some alts where I really see potential and if it doesn't work out, it doesn't work out

I'm lucky to be in the position that I can buy alts from profits out of trading other alts (sign campaign helped a lot in the early days too), most of the original fund came from mining magi and it has been one of if not the most profitable alt for me - so I'll certainly be supporting it when I can even if things are a little stretched at the minute

[flippintwit]

One thing that is very nice to see is the number orphans that have been plaguing pom.m-hash the last few weeks have fallen off dramatically the last couple days.

[Digithusiast]

It seems some XMG holders are panicking the last few days and selling out. See how much XMG resembles BTC price pattern, except for the last few days;

https://cryptocoinsmarkt.nl/coin/XMG

[CEOKEY]

Magi is a technology-focused coin on "implementing a new anti-counterfeiting mechanism to frustrate the ability to strike through the accumulation of large amounts of coins and time spent hiding offline". At the same time, this is also the least costly coin for maintaining the mass flow. It is possible to say that Magi benefits users. But what is your specific solution to accomplish this important task?

[earl3000]

It seems some XMG holders are panicking the last few days and selling out. See how much XMG resembles BTC price pattern, except for the last few days;

https://cryptocoinsmarkt.nl/20180627xmggraph.png

https://cryptocoinsmarkt.nl/coin/XMG

Well the panic-selling has a silver-lining, the PoS - Regards are much higher again. AND Great price to get in for buying big amounts.

[ulorentz]

This coin price is going very badly, I have never seen a so low price since I started mining XMG...

[s0litaire]

This coin price is going very badly, I have never seen a so low price since I started mining XMG...

It's been lower in the past.

It's been below 0.00001 btc/xmg twice in the past couple of years, so don't worry to much.
A coin like this tends to grab investors when it's cheap as it's known to swing back to the 0.000025 mark in a couple of months after a below 0.00001 dip. it's easy money for those willing to invest.

Personally I think it will start to rebound around the 0.000015 mark if the BTC market settles down and takes a Valium or two ;-)

If you check out the history in the XMG market, in the past the it tends to trend up during July/September months generally (Those kids investing their summer job money! lol) so don't panic till October arrives.

[ilcapitano]

It seems some XMG holders are panicking the last few days and selling out. See how much XMG resembles BTC price pattern, except for the last few days;

https://cryptocoinsmarkt.nl/coin/XMG

Thanks for the information on overlap charts of Bitcoin and Magi.
Additionally, the link you shown also give me hint to interesting, helpful website which I have not known before.

[starmman]

This coin price is going very badly, I have never seen a so low price since I started mining XMG...

It's been lower in the past.

It's been below 0.00001 btc/xmg twice in the past couple of years, so don't worry to much.
A coin like this tends to grab investors when it's cheap as it's known to swing back to the 0.000025 mark in a couple of months after a below 0.00001 dip. it's easy money for those willing to invest.

Personally I think it will start to rebound around the 0.000015 mark if the BTC market settles down and takes a Valium or two ;-)

If you check out the history in the XMG market, in the past the it tends to trend up during July/September months generally (Those kids investing their summer job money! lol) so don't panic till October arrives.

I picked up some magi for sub 2k for the first time in a while - the lowest I ever bought for was about 900sat, however it was only at that price for a few seconds

[starmman]

10% price increase over 24hr and average price is back over 2k again today, although volume is still not huge

[Noruka]

But that's the chicken and the egg problem for sure. Even if someone likes Magi, getting in with a large position doesn't make sense because you can't even get out properly if you wanted to.

Seems to be a problem across lots of small alts right now, if history repeats itself and there is another rise - there will be enough fund to sell into, but I guess for now its a bit of a gamble

I've still been buying on the way down, if I lose, I'll lose.

I like your attitude I think the same way, buying some alts where I really see potential and if it doesn't work out, it doesn't work out

I'm lucky to be in the position that I can buy alts from profits out of trading other alts (sign campaign helped a lot in the early days too), most of the original fund came from mining magi and it has been one of if not the most profitable alt for me - so I'll certainly be supporting it when I can even if things are a little stretched at the minute

That's indeed a lucky position. If you put hard earned money at risk that you are actually dependent on, it's much more difficult to survive the hardships that inevitably come with crypto.

[starmman]

That's indeed a lucky position. If you put hard earned money at risk that you are actually dependent on, it's much more difficult to survive the hardships that inevitably come with crypto.

I only put money that I can afford to lose into crypto due to the speculative nature of everything

[magiboi]

i wish i can be optimistic like you guys 

[s0litaire]

i wish i can be optimistic like you guys 

It's easy. Just listen to the markets,
Most saying BTC is well over values and we're in the end stages of a "Market wide correction".

BTC's huge value in December was not sustainable and now the market is lowering the price to a level that they can work with and have stable for commerce! (A coin gaining/loosing 5-10% of it's value a day is terrible for buying and selling goods to the general public!)

That, in turn, is dragging other coins down with it. Once BTC is stable again the coins will also start to grow (slowly!) in value again.