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

[goldlabel]

[ocminer]

Hey guys,

I will be doing some database upgrades on Suprnova's XMG pool https://xmg.suprnova.cc over the weekend because its one of the oldest suprnova pools and I have some performance upgrades.

I've got backups and everything and its just a "normal" upgrade so nothing should go wrong - but you know how it is, the easiest things sometimes fail and some data could get lost.

So just to be safe, it would be cool if you could withdraw all your remaining balances from the pool.

No breaks or downtimes will occur - you can safely mine own, its just a backend thing with the shares &  shares archive table.

Thanks !

[111magic]

Hey guys,

I will be doing some database upgrades on Suprnova's XMG pool https://xmg.suprnova.cc over the weekend because its one of the oldest suprnova pools and I have some performance upgrades.

I've got backups and everything and its just a "normal" upgrade so nothing should go wrong - but you know how it is, the easiest things sometimes fail and some data could get lost.

So just to be safe, it would be cool if you could withdraw all your remaining balances from the pool.

No breaks or downtimes will occur - you can safely mine own, its just a backend thing with the shares &  shares archive table.

Thanks !

Thanks for the info OCminer! People listen to his advice!

[111magic]

Really really awesome picture Goldlabel. Did you post in also in the picture contest thread on bitcoingarden?

[okae]

omg nice work man, there is some guys in this community with nice "photoshop" skills, i like it, cmon guys, dont stop, i want more pictures!!! jeje

@ocminer ty for the info and dont worry im sure you will do the upgrade without problems

[z0n0]

woooooooooow 
amazing!!!!  i like it a lot

[Coins-R-Us]

OK for the "new OP" I would suggest to get rid of faucet #4 (low payout with impossible captchas).
Instead use magi.steep.rocks - a great faucet!  Also, faucet #6 will not load the page for me.

[111magic]

OK for the "new OP" I would suggest to get rid of faucet #4 (low payout with impossible captchas).
Instead use magi.steep.rocks - a great faucet!  Also, faucet #6 will not load the page for me.

Thanks for the feedback.
For the faucets, I will take a look at them.

[goldlabel]

Thx for the nice words

"Really really awesome picture Goldlabel. Did you post in also in the picture contest thread on bitcoingarden?"
yup its also there 

[111magic]

Thx for the nice words

"Really really awesome picture Goldlabel. Did you post in also in the picture contest thread on bitcoingarden?"
yup its also there 

Well done. Remember guys everybody can join the Magi picture contest with two pictures.
Every person will have the chance to win the price but will always receive some XMG for joining the contest.
More info here:
http://bitcoingarden.tk/forum/index.php?topic=4487.0

[111magic]

https://bitcointalk.org/index.php?topic=1164424.msg12266734#msg12266734

Magi (XMG) new Spanish OP.

[joelao95]

It's very cool, like it much.  

[joelao95]

Hey guys,

I will be doing some database upgrades on Suprnova's XMG pool https://xmg.suprnova.cc over the weekend because its one of the oldest suprnova pools and I have some performance upgrades.

I've got backups and everything and its just a "normal" upgrade so nothing should go wrong - but you know how it is, the easiest things sometimes fail and some data could get lost.

So just to be safe, it would be cool if you could withdraw all your remaining balances from the pool.

No breaks or downtimes will occur - you can safely mine own, its just a backend thing with the shares &  shares archive table.

Thanks !

Thanks for updates.

[111magic]

Joe can you adjust the OP?
You can copy the one I made and add more info in there if you like. That way people can find the right/current and working links!

[111magic]

I am excited for all of the upcoming developments!

I agree that the staking reward needs to be increased. Maybe shift some of the coins generated in new blocks from mining to new blocks from staking? I've staked 24/7 for a couple months now and there is pretty much no reward.

Maybe when the mining block reward goes lower due to the hashrate being too high, those coins could be shifted to staking blocks instead?

thats not a good way because how much POS u earn would deepend on luck

thats not the way it should be



to be able attract investors they must have a clear picture of returns

how much POS in what timeframe a clear coin rollout plan and a max amount of coins when it reach ultra low inflation of max 1%

the coin rollout timeframe should be at least 10 years and upwards to that constant decreasing rewards and constant decreasing inflation

most part of new coins should be generated by POS

POW just used as additional security feature with some but no big rewards

thats the best way to keep cpu botnets and non public gpu mininer away of the landscape

POS and "coins needed to generate coins" is the best engine for demand and help to survive the time until real services and apps are existing to give the coin added value

if u want POW as a way to get in for fresh people intact just run other PoM campaigns and fund them with big dev team managed staking wallets

Long rambling opinion:  To me it boils down to who you want to pay and how much you want to pay them for maintaining the block chain.  If you don't have some type of inflation control on PoS you can run into a run away exponential inflation problem as holders block up their UTXO amounts into really large amounts and funds start doubling and tanking the price.  If you give large rewards on a CPU mined PoW coin you can run into issues with botnets, and other large LAN's taking over and playing hogs of the block rewards or people possibly running private GPU miners.

I would look at the average number of coins that have been generated per day over the last few months and leave that value about the same.  That way exchange pricing shouldn't be effected too much.  I would switch most of the reward to PoS and run PoM campaigns with funding from the dev team managed staking wallets as  suggested by cryptonit.  The PoS interest rate will need to be increased to mint the same average number of coins per day if the PoW block reward is reduced.  I would add inflation controls on PoS so that in the long run we can make a smooth transition from exponential growth to a more sustainable growth rate – somewhat like the universe did during the first few seconds of the big bang.  

The PoM campaigns should be a good way of dispersing the coins to smaller miners so that funds are not all just dispersed and held by the PoS stakeholders.  In this way you can reward your core investors and attract new people as well as keep the price more stable as compared to a higher interest rate PoS coin.  I would not put much effort into the PoW algorithm as most things can be cracked with enough time and effort and nothing gets the community frothing more than thinking there are some unfair bulldozing miners out there on botnets and GPU's from what I've seen.  

Yes this is more or less what I was suggesting. If the block reward per day was fixed and divided between PoW and PoS blocks on an equilibrium basis, then it would encourage more staking while discouraging very large miners. When the 30-100+ mh/s of GPU miners out there turn on, they take destroy the PoW block reward. But, what if as the PoW block reward goes down, the PoS block rewards increase proportionally. This way, you eliminate unpredictable PoS inflation by getting rid of the interest and replace it with the hybrid PoW/PoS block rewards that rely on some function of the relevant variables.

Think Joe received some great feedback on this subject. He will work on the improvements.
I trust Joe with this and know hè can do genius things. In the mean time promotions continue.
The awesome Magi app will be launched in october.
The picture contest is running.
Magi is looking into some nice ideas for the first Magi birthday. (15-09-2015).
If you have some awesome ideas feel welcome to share them!

[LordCoder]

Magi disabled from Bittrex?

[muchoman]

Magi disabled from Bittrex?

No.

[LordCoder]

Magi disabled from Bittrex?

No.

[111magic]

Magi disabled from Bittrex?

No.

Must be a mistake or other reason.
I already contacted Bittrex about it.
I hope they will respond soon.

[sid7039]

Magi disabled from Bittrex?

It's probably Bittrex wallet maintenance.
Happens often to other coins too.