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Author Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]  (Read 1536014 times)
Sy
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October 06, 2014, 02:21:21 PM
 #2601

The point is, everyone (me included) is mining for the wrong reasons nowadays, we don't mine anymore for idealistic reasons or to strengthen a network, if the numbers don't add up we stop mining - and that's the main flaw.

In the beginning BTC was mined for fun, there was no real money in it, people just used their spare time, others did folding for example, they just liked the idea...

So what i am trying to say, it should basicly be unimportant what the current price is, if you think this is nice - keep one miner instance running and just ignore the market - you will accumulate enough over time to make it worth your while IF this plays out - and that's the whole story, if you don't think the coin is nice and interesting you just shouldn't mine it imho ^^

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October 06, 2014, 02:59:19 PM
 #2602

Good words Sy.
I stand by XMG. I have confidence in the developer and the community. XMG has only just begun. Great things will come. In my eyes it is still a unique currency.


  Coin MAGI  . XMG  
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓ XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8
  ANN THREAD MAGIPAY FAQ FORUM
BTC 14eLeLUHi8sSt4u7aQK8qxpzizPjL9LV7Y
Spexx
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October 06, 2014, 04:33:56 PM
 #2603

Good words Sy.
I stand by XMG. I have confidence in the developer and the community. XMG has only just begun. Great things will come. In my eyes it is still a unique currency.

I'll second that.

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October 06, 2014, 05:05:08 PM
 #2604

well, if i sell all what i mined i will have 12$.

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October 06, 2014, 05:27:52 PM
 #2605

Тoday build wallet for Debian 6 , ok
I rated it
thanks for the work )
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October 06, 2014, 05:33:52 PM
 #2606

Good words Sy.
I stand by XMG. I have confidence in the developer and the community. XMG has only just begun. Great things will come. In my eyes it is still a unique currency.

I'll second that.

Count me in
Anonz
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October 06, 2014, 05:43:54 PM
 #2607

I am with you guys on this.  I'm actually having fun mining this coin.

Anonz want to remain Anonymous. It's up to those who follow along with us.  My favorite coins?  Magi, Bitcoin, and Darkcoin. Thread about XMG: https://bitcointalk.org/index.php?topic=735170.0 - Market of XMG: https://bittrex.com/Market/Index?MarketName=BTC-XMG - #Magi on Freenode IRC:  https://kiwiirc.com/client/irc.freenode.net/#magi
Anonz
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October 06, 2014, 05:46:24 PM
 #2608

There are still way more coins coming in than being traded, last 4 days yielded 108k plus some from the coinswap, it is bound to go down - either sell now and buy back later or wait it out.

Once PoW is done the block reward will be set to 15 XPM (in theory more than now but 4 days avg was 80) which results in 7200 per day and 216k per month, that's when a price will be found if the coin is still interesting.

Great point.  and...  trades = volume... the more trades it receives the higher the volume.

Anonz want to remain Anonymous. It's up to those who follow along with us.  My favorite coins?  Magi, Bitcoin, and Darkcoin. Thread about XMG: https://bitcointalk.org/index.php?topic=735170.0 - Market of XMG: https://bittrex.com/Market/Index?MarketName=BTC-XMG - #Magi on Freenode IRC:  https://kiwiirc.com/client/irc.freenode.net/#magi
joelao95
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October 06, 2014, 05:47:10 PM
 #2609

Thanks guys, I realized people who liked this coin. Undecided


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
joelao95
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October 06, 2014, 05:48:46 PM
 #2610

The point is, everyone (me included) is mining for the wrong reasons nowadays, we don't mine anymore for idealistic reasons or to strengthen a network, if the numbers don't add up we stop mining - and that's the main flaw.

In the beginning BTC was mined for fun, there was no real money in it, people just used their spare time, others did folding for example, they just liked the idea...

So what i am trying to say, it should basicly be unimportant what the current price is, if you think this is nice - keep one miner instance running and just ignore the market - you will accumulate enough over time to make it worth your while IF this plays out - and that's the whole story, if you don't think the coin is nice and interesting you just shouldn't mine it imho ^^

Just came from a typical weekly meeting (every Monday or Tuesday morning), back & forth discussion on non-conclusive stuffs, kinda boring; just seen many posts popped up.

I was a bit depressed too in the last few days as to the price. Some people on this coin are most likely just mining, dumping, and then moving to the next coin. Fortunately we have many people who are around not solely for this purpose. All their supports are the reason that XMG is and remain to be here.

For people who care about the price, we may need to notice the connection with the daily trading volume. We need to work out some more exchanges along that, as well as to make XMG to be known by more people. Following are the exchanges you can vote for XMG: 

https://www.cryptsy.com/coinvotes/
https://bter.com/voting


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
joelao95
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October 06, 2014, 05:53:42 PM
 #2611

The above mentioned is a serious problem. In fact it makes mining for small miners a bad choice, as it is lots cheaper to buy than to mine, and the free miners will continue to keep the price down.

Joe, one idea could be to buy all this cheap positions, manually or probably with a bot. Don't know if you have some funds left for this (call it a campaign "Proof of value" or something like this), before daytraders make cash with these cheap coins.

We are lack of funds, so this could be unlikely; also, it could also not be wise to do so. Some IPO coin projects do support this kind of buying support, but in my opinion, market is the market which should reflect the real situation; big intervention could be lead to misunderstanding for the miners.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
joelao95
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October 06, 2014, 05:56:35 PM
 #2612

Yes it is. I think dev is sleeping now. 04:55hour at his place now.
I still believe in XMG.
That is your opinion loonb. If you've read the thread properly, there is not much of that huge amount left after the swap ratio of 4 -1
In addition, the swap is further postponed to protect XMG and miners.
So I find XMG still the fairest currency

Don't get me wrong, I am a XMG supporter and have been buying a lot and mining a little,
but on the richlist the swap wallet still has 1,165,995.0 XMG = 70.75 % of all coins. How do you mean there is not much of that huge amount left?

How many coins have been swapped the last 3 days? That could also be the reason for the price drop; swappers selling off their new XMG rightaway.


I think thats the swap wallet.

https://bitcointalk.org/index.php?topic=735170.msg8950501#msg8950501
https://bitcointalk.org/index.php?topic=735170.msg9098733#msg9098733

Right, then only 60,000 XMG have been distributed as swap uptil now. That means 1,165,995.0 XMG are still waiting to be swapped. Thats is a HUGE amount and will not be very supportive with regards to any upwards price movements. Add tot that the miners that are dumping, we got ourselves a situation.


Let me give an update on this and some other updates & plans.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
Digithusiast
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October 06, 2014, 05:58:11 PM
 #2613

Please don't get me wrong, I am a big XMG supporter and am currently buying and holding all the way into the top 10 holders,
only for me it feels off if I am running my miners, burning energy and money, while it is less energy/money-consuming to just buy on the market.
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October 06, 2014, 06:08:21 PM
 #2614

its good you support and all that Digi; I think "we" need to some how help out with the growth of Magi in our own ways.

Anons might need to tweet it, so we got to let the other Anons know, they have a chance to get into the crypto industry.
Anyone in touch with YourAnonNews?  http://twitter.com/YourAnonNews

Please don't get me wrong, I am a big XMG supporter and am currently buying and holding all the way into the top 10 holders,
only for me it feels off if I am running my miners, burning energy and money, while it is less energy/money-consuming to just buy on the market.

and dev, any updates on the TOR inputs? I know you have been very busy working on the mining aspect, which can only improve from here. We are fan of your developments!

Anonz want to remain Anonymous. It's up to those who follow along with us.  My favorite coins?  Magi, Bitcoin, and Darkcoin. Thread about XMG: https://bitcointalk.org/index.php?topic=735170.0 - Market of XMG: https://bittrex.com/Market/Index?MarketName=BTC-XMG - #Magi on Freenode IRC:  https://kiwiirc.com/client/irc.freenode.net/#magi
111magic
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October 06, 2014, 06:36:00 PM
 #2615

XMG thread has been read more than 100.000 times
 Grin


  Coin MAGI  . XMG  
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓ XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8
  ANN THREAD MAGIPAY FAQ FORUM
BTC 14eLeLUHi8sSt4u7aQK8qxpzizPjL9LV7Y
Anonz
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October 06, 2014, 06:49:15 PM
 #2616

XMG thread has been read more than 100.000 times
 Grin

nice start for the future

Anonz want to remain Anonymous. It's up to those who follow along with us.  My favorite coins?  Magi, Bitcoin, and Darkcoin. Thread about XMG: https://bitcointalk.org/index.php?topic=735170.0 - Market of XMG: https://bittrex.com/Market/Index?MarketName=BTC-XMG - #Magi on Freenode IRC:  https://kiwiirc.com/client/irc.freenode.net/#magi
jawitech
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October 06, 2014, 07:10:14 PM
 #2617

The above mentioned is a serious problem. In fact it makes mining for small miners a bad choice, as it is lots cheaper to buy than to mine, and the free miners will continue to keep the price down.

Joe, one idea could be to buy all this cheap positions, manually or probably with a bot. Don't know if you have some funds left for this (call it a campaign "Proof of value" or something like this), before daytraders make cash with these cheap coins.

We are lack of funds, so this could be unlikely; also, it could also not be wise to do so. Some IPO coin projects do support this kind of buying support, but in my opinion, market is the market which should reflect the real situation; big intervention could be lead to misunderstanding for the miners.

Yeah, I see your point. I think more people should know about Magi. Each miner, no matter if asic, gpu or whatever miner can use his cpu. No extra costs, no huge efforts. And even if they are mining just a few coins, bringing just some extra kh, it increases the network/coin. More or less: Every miner (not only) at this board could join our little community.

My CPU runs 24/7 for Magi, my coins are sleeping in the wallet and if I have some free funds, I buy some cheap coins on the exchanges. That's not much but my contribution.
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October 06, 2014, 09:53:18 PM
 #2618

XMG is doing so well regardless of price going down, it's expected, since new coins come in and and awareness campaign just started, i do believe magi team have great plan for this coin, who knows one day we just wake up XMG price is  5 to 10x higher than what it is atm or maybe more  ^^, remember rest of the coin is to be mined for more than 20 years XD, (30 years if i read it right) .. well this is just my view but nonetheless it is very possible ^^,

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joelao95
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October 07, 2014, 01:24:07 AM
 #2619

its good you support and all that Digi; I think "we" need to some how help out with the growth of Magi in our own ways.

Anons might need to tweet it, so we got to let the other Anons know, they have a chance to get into the crypto industry.
Anyone in touch with YourAnonNews?  http://twitter.com/YourAnonNews

Please don't get me wrong, I am a big XMG supporter and am currently buying and holding all the way into the top 10 holders,
only for me it feels off if I am running my miners, burning energy and money, while it is less energy/money-consuming to just buy on the market.

and dev, any updates on the TOR inputs? I know you have been very busy working on the mining aspect, which can only improve from here. We are fan of your developments!

I will try to get the TOR on the testnet this week, but before that I plan to update the wallet & algo.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
joelao95
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October 07, 2014, 01:29:50 AM
 #2620

The above mentioned is a serious problem. In fact it makes mining for small miners a bad choice, as it is lots cheaper to buy than to mine, and the free miners will continue to keep the price down.

Joe, one idea could be to buy all this cheap positions, manually or probably with a bot. Don't know if you have some funds left for this (call it a campaign "Proof of value" or something like this), before daytraders make cash with these cheap coins.

We are lack of funds, so this could be unlikely; also, it could also not be wise to do so. Some IPO coin projects do support this kind of buying support, but in my opinion, market is the market which should reflect the real situation; big intervention could be lead to misunderstanding for the miners.

Yeah, I see your point. I think more people should know about Magi. Each miner, no matter if asic, gpu or whatever miner can use his cpu. No extra costs, no huge efforts. And even if they are mining just a few coins, bringing just some extra kh, it increases the network/coin. More or less: Every miner (not only) at this board could join our little community.

My CPU runs 24/7 for Magi, my coins are sleeping in the wallet and if I have some free funds, I buy some cheap coins on the exchanges. That's not much but my contribution.

exactly, we will need to advertise a bit more about XMG, Tweet / RT  https://twitter.com/CoinMagi


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
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