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

[111magic]

Think it depends on the costs you have for power.
At the moment Magi has a value of €0.0159 = 1 XMG.
So for some it gives profit. But only if you sell them.
Maybe with little patience the profit will be a lot higher!

Great. Thanks for sharing your opinion. Even though, it is still fun to mine Magi with my CPU. All of my mined XMG are kept safe in a paper wallet for future use. Perhaps, the price would be higher by then. So now it is the perfect time to mine or buy more Magi as the price right now is dirt cheap. 

That's nice to hear you are using the Magi paper wallet. 

[1714476764]

1714476764

[1714476764]

1714476764

[goldlabel]

just a idea, cant the block reward react quicker, so the big miners dont have the change to get alot of coins in a sort time?

[Redrover]

Awesome detailed post joelao95, thanks for taking the time to explain some of the issues we face and how changing one thing could affect other things.  I especially love the idea of a super miner running on solar - that would be a massive game changer for the industry, heck, even a mini miner on solar would be big!

After reading all of this information, I wonder if goldlabel's point below would actually be the ideal solution?  So much to consider, will have to think on this some more.

just a idea, cant the block reward react quicker, so the big miners dont have the change to get alot of coins in a sort time?

[starmman]

Awesome detailed post joelao95, thanks for taking the time to explain some of the issues we face and how changing one thing could affect other things.  I especially love the idea of a super miner running on solar - that would be a massive game changer for the industry, heck, even a mini miner on solar would be big!

After reading all of this information, I wonder if goldlabel's point below would actually be the ideal solution?  So much to consider, will have to think on this some more.

just a idea, cant the block reward react quicker, so the big miners dont have the change to get alot of coins in a sort time?

I agree, that would be an easy way to limit big miners capacity really quickly, and (hopefully) make it difficult for them to find a workaround - so long as its technically feasible to tweak the algorithm in that way.

[111magic]

Awesome detailed post joelao95, thanks for taking the time to explain some of the issues we face and how changing one thing could affect other things.  I especially love the idea of a super miner running on solar - that would be a massive game changer for the industry, heck, even a mini miner on solar would be big!

After reading all of this information, I wonder if goldlabel's point below would actually be the ideal solution?  So much to consider, will have to think on this some more.

just a idea, cant the block reward react quicker, so the big miners dont have the change to get alot of coins in a sort time?

I agree, that would be an easy way to limit big miners capacity really quickly, and (hopefully) make it difficult for them to find a workaround - so long as its technically feasible to tweak the algorithm in that way.

I don't know if this is possible. Have to wait for an answer from our dev!

[dqy007]

when have Android's wallet?

[111magic]

when have Android's wallet?

You can import walletaddresses in the app and check balances!

[goldlabel]

official launch of the Magi Android app on Friday, November 13th, 2015

On Friday, November 13th, 2015 

[111magic]

Lol yes nice day/date right!

[starmman]

Lol yes nice day/date right!

It's lucky for some =)

And, if the deployment goes badly - you can blame the date

[kondiomir]

So left a couple of days to release

[111magic]

Important message: The POM rewards are being paid to the wallet-address i received from the Pools.

[pomelo]

Received my payout for the PoM. Thank you 

[okae]

Important message: The POM rewards are being paid to the wallet-address i received from the Pools.

ahh thats important news, good job man!

i think that i will announce it at spanish thread too, maybe there is some guys who didnt notice it yet

[goldlabel]

Important message: The POM rewards are being paid to the wallet-address i received from the Pools.

Thx, always nice to get some extra coins

[joelao95]

Awesome detailed post joelao95, thanks for taking the time to explain some of the issues we face and how changing one thing could affect other things.  I especially love the idea of a super miner running on solar - that would be a massive game changer for the industry, heck, even a mini miner on solar would be big!

After reading all of this information, I wonder if goldlabel's point below would actually be the ideal solution?  So much to consider, will have to think on this some more.

just a idea, cant the block reward react quicker, so the big miners dont have the change to get alot of coins in a sort time?

I agree, that would be an easy way to limit big miners capacity really quickly, and (hopefully) make it difficult for them to find a workaround - so long as its technically feasible to tweak the algorithm in that way.

I don't know if this is possible. Have to wait for an answer from our dev!

@all, this is the point #2) and #3) in my post, too lengthy to get the idea.  

I am (super) busy, can't read carefully those posts before mine, and some others. You are of course not ignored; let me pick up points at the weekend.

I just wrote the idea from my point of view (I believed we should hold the baseline); if one doesn't agree / believes those are marginal, feel free to talk.

[fitinplace]

Hi XMGCoin Members,  i had a few questions about specs.

1.  Confirm received?
2.  Minimum coin age till mature?
3.  Average reward?

[feldenthorne]

Hi XMGCoin Members,  i had a few questions about specs.
1.  Confirm received?
2.  Minimum coin age till mature?
3.  Average reward?

First post:

Specifications

Proof of Work (PoW)
Disable huge hash - Specific PoW block reward design to maintain the network hashrate and make mining available to CPU (more..)
M7M (v2) PoW hash function
Block time - 3 minutes
MagiQuantumWave (MQW) difficulty adjustment per block

Proof of Staking II (PoW-II)
Security enhanced - Variable coin age depending on the staking time (more..)
Minimum coin age - 2 hours
Interest rate - network weight dependent with maximum 5%;
Block time - 1.5 minutes
Block hash - SHA256
Maturity: 120
     (Set posii=0 in magi.conf to disable PoS-II)

Total supply: 25 million
RPC - 8232, P2P - 8233

Block rewards depend on network hashrate as well as the current block number. You can look at a graph here to get an idea of the reward scheme: http://starflakenights.net/crypto/blockreward/xmg.html.

[fitinplace]

Hi XMGCoin Members,  i had a few questions about specs.
1.  Confirm received?
2.  Minimum coin age till mature?
3.  Average reward?

First post:

Specifications

Proof of Work (PoW)
Disable huge hash - Specific PoW block reward design to maintain the network hashrate and make mining available to CPU (more..)
M7M (v2) PoW hash function
Block time - 3 minutes
MagiQuantumWave (MQW) difficulty adjustment per block

Proof of Staking II (PoW-II)
Security enhanced - Variable coin age depending on the staking time (more..)
Minimum coin age - 2 hours
Interest rate - network weight dependent with maximum 5%;
Block time - 1.5 minutes
Block hash - SHA256
Maturity: 120
     (Set posii=0 in magi.conf to disable PoS-II)

Total supply: 25 million
RPC - 8232, P2P - 8233

Block rewards depend on network hashrate as well as the current block number. You can look at a graph here to get an idea of the reward scheme: http://starflakenights.net/crypto/blockreward/xmg.html.

i may have missed

1.  confirms on received coins in qt wallet?  the amount of confirms it takes before you can spend you coins again after receiving from another address.
2.  average reward?  mining coins reward coins for the mining involved.  staking coins also have rewards. not sure if i missed anything from thread.

[elpsycongro]

Important message: The POM rewards are being paid to the wallet-address i received from the Pools.

patiently awaits reward