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

[joelao95]

Is this only a cpu mineable Coin? could mine with GPU?

My hashrate is 4 Kh/s with core i7-6770 equal to 0.22 Magi daily. Is this okay?

It is very far from Profitability with cpu mining.

4 Kh/s from i7 is significantly off; make sure you have the right miner.  

Is this only a cpu mineable Coin? could mine with GPU?

It IS CPU mineable; the reason why I am saying that is we're yet to leave behind by big miners. However, must to be frank, I was told by professionals that mining with GPU is likely, though nobody is claiming, less interested or something else, don't know.

It is not clear that existing GPU mining or not; it may be clear that CPU mining could go marginal at some time, though I don't have the first-hand information at this point as to comparing with other CPU minings. In either case, you'd be better to mine a while to get to know about magi.

It is less likely to completely reject big miners include GPU, FPGA things, botnets or whatever; but it is likely to frustrate these things. How to EFFECTIVELY get the frustration onto them is yet to be done.  

One thing I am sure and what we must declare is that magi would go less pointing without taking the mobile mining as the formost purpose, and that IS a must go and what I intend to do to tackle, in order to be useful in a certain way.

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[joelao95]

Yesterday Magi team had a talk about the future of Magi and the improvements. In our main thread and on other forums our Magi community members gave some great ideas. Our awesome dev is working on those ideas to integrate them in the improvements and updates. With the coming updates & improvements it might be the most important step forward for the future of Magi. Magi team appreciate the patience of our great community and will try to make you all very happy with those updates/improvements.
I can not give details yet but I can tell that the team listen and looked very good at the advices (from example Cryptonit & others) and the latest developments in the Crypto-world.
 
Magi will become 2 years old at 15-09-2016 and time has come that we give Magi a huge boost and continue to grow further in the world of digital currencies!

Keep your eyes on the threads and other social media!

Thanks for promos; I hoped some are really & actually done.

[keepall]

Magi is the best coin for starters.


Good job guys 

[111magic]

Magi is the best coin for starters.


Good job guys 

Awesome, nice to hear that. Thanks keepall and welcome in our awesome Magi community!

[markzedi]

Yesterday Magi team had a talk about the future of Magi and the improvements. In our main thread and on other forums our Magi community members gave some great ideas. Our awesome dev is working on those ideas to integrate them in the improvements and updates. With the coming updates & improvements it might be the most important step forward for the future of Magi. Magi team appreciate the patience of our great community and will try to make you all very happy with those updates/improvements.
I can not give details yet but I can tell that the team listen and looked very good at the advices (from example Cryptonit & others) and the latest developments in the Crypto-world.
 
Magi will become 2 years old at 15-09-2016 and time has come that we give Magi a huge boost and continue to grow further in the world of digital currencies!

Keep your eyes on the threads and other social media!

Glad to hear this. Magi will become older, yet it keeps getting stronger in community and development. It has been a really great effort to keep this coin moving forward. I hope that new and exciting things will make XMG even more interesting like the new POI IV. Looking forward for more updates.   

Thanks for the nice feedback Starmman & Abiky.
Really appreciate that!

Coin is dying on all exchanges and you says you cant give any details about future plans?

[111magic]

Yesterday Magi team had a talk about the future of Magi and the improvements. In our main thread and on other forums our Magi community members gave some great ideas. Our awesome dev is working on those ideas to integrate them in the improvements and updates. With the coming updates & improvements it might be the most important step forward for the future of Magi. Magi team appreciate the patience of our great community and will try to make you all very happy with those updates/improvements.
I can not give details yet but I can tell that the team listen and looked very good at the advices (from example Cryptonit & others) and the latest developments in the Crypto-world.
 
Magi will become 2 years old at 15-09-2016 and time has come that we give Magi a huge boost and continue to grow further in the world of digital currencies!

Keep your eyes on the threads and other social media!

Glad to hear this. Magi will become older, yet it keeps getting stronger in community and development. It has been a really great effort to keep this coin moving forward. I hope that new and exciting things will make XMG even more interesting like the new POI IV. Looking forward for more updates.   

Thanks for the nice feedback Starmman & Abiky.
Really appreciate that!

Coin is dying on all exchanges and you says you cant give any details about future plans?

Sorry amigo I don't see the coin is dying on all exchanges. Volume is still ok. Btc is up and value Magi is stable. Magi is there for the longterm and the most important things for the Magi team is give our loyal awesome community some great & unique Magi improvements!

[goldlabel]

Remember to putt your walletadress at the topic on Facebook

[starmman]

Sorry amigo I don't see the coin is dying on all exchanges. Volume is still ok. Btc is up and value Magi is stable. Magi is there for the longterm and the most important things for the Magi team is give our loyal awesome community some great & unique Magi improvements!

In my observations, Price to USD has been hovering between $0.008 to $0.01 over the last few weeks - price to BTC has obviously dropped as some people are riding the BTC bull and want to transfer their alts into BTC, this has caused magi to drop against BTC and also caused a few to panic sell and also left a favourable buying opportunity, however Magi is still rated at $0.0075 - so not much of a drop in fiat value at all. And, Its possible to take some good advantage of the fluctuations on the market right now. =)

[starmman]

Sorry amigo I don't see the coin is dying on all exchanges. Volume is still ok. Btc is up and value Magi is stable. Magi is there for the longterm and the most important things for the Magi team is give our loyal awesome community some great & unique Magi improvements!

In my observations, Price to USD has been hovering between $0.008 to $0.01 over the last few weeks - price to BTC has obviously dropped as some people are riding the BTC bull and want to transfer their alts into BTC, this has caused magi to drop against BTC and also caused a few to panic sell and also left a favourable buying opportunity, however Magi is still rated at $0.0075 - so not much of a drop in fiat value at all. And, Its possible to take some good advantage of the fluctuations on the market right now. =)

XMG price per USD is back up to 0.0086 this morning, I don't think there is anything to worry about

[Abiky]

Sorry amigo I don't see the coin is dying on all exchanges. Volume is still ok. Btc is up and value Magi is stable. Magi is there for the longterm and the most important things for the Magi team is give our loyal awesome community some great & unique Magi improvements!

In my observations, Price to USD has been hovering between $0.008 to $0.01 over the last few weeks - price to BTC has obviously dropped as some people are riding the BTC bull and want to transfer their alts into BTC, this has caused magi to drop against BTC and also caused a few to panic sell and also left a favourable buying opportunity, however Magi is still rated at $0.0075 - so not much of a drop in fiat value at all. And, Its possible to take some good advantage of the fluctuations on the market right now. =)

XMG price per USD is back up to 0.0086 this morning, I don't think there is anything to worry about

Yeah. XMG price is relatively stable since it says between the $0.008 to $0.01 mark. Becoming lower than $0.01 USD makes it pretty good to grab some cheap coins to prepare yourself for the POI IV. Once you join the next Proof of Interest and the price goes back to $0.01 USD, you will earn more profit when you get your interest paid. It's a win-win situation so I wouldn't mind and grab a bunch of coins to stake them before POI starts. These are among the many things why Magi is my favorite alt coin of choice. Also, its unique algorithm prevents big miners from getting all the huge rewards, which is good in my opinion for any average Joe to profit from mining. 

[111magic]

Remember to putt your walletadress at the topic on Facebook

Do we have 900 likes already?
--------------------

Right words Abiky & Starmman
Thanks

[joelao95]

We're going to migrate to LevelDB for block index storing and retrieval. This will speed up the wallet significantly.

https://github.com/magi-project/magi/tree/1.3-exp

1.3-exp contains coarse codes integrated as of yet; it's NOT ready. This is obviously very experimental at this time and yet proves clearance of bugs, that you might not want to try, though I've compiled a wallet currently downloading block chain and going through details. If one is interested, please DO NOT use it in your regular way: don't run it with your old wallet.dat in the directory, and mine or do any other transactions. You'd better to move everything (prior block data + wallet.dat) to elsewhere before launch this experimental wallet. Use your cautions.

So, this is a simple update; I'm posting in case one could help. What I did to spend time on this issue is less urgent compared to other issues; well, I seemed to be in the middle of something; the truth is that there are many stuffs that need to done; tried to get a little step before going into my work. What I intended in the past was to integrate the latest code base. This is mostly a crazy idea for an individual to handle the whole open-source code base.

At this point, it seems a time for me to cover some more. Magi is nearly two years, but we have almost a dev-blank in 2015 and beginning of 2016. All came to stuffs of mine, job-changing-relocation-settle-down, so about a life change.

No ETA until I'm done; reason is that I've to take care of my work well without burning in this crypto land; and uncertainties in coding and testing.

An opinion to magi if you'd ask me, I'd keep it going and that seems my only interest in this crypto, no investment in BTC or any things else at all as I do lose my trusts on some things so called people claimed from time to time, you saw that, went through that, and got your judgement; certainly I am interested to the techs, with freedoms to compose, to tackle the tough. If you'd ask me the plans, I do have many, but I'd refrain to talk much before some thing else are actually done. I provided a few thoughts nearly a year before one can check hundred of pages back, absolutely those I'd carry on. Let's see.

[Coins-R-Us]

Thank you very much joelao95 for your work to make
Magi even better and faster!  It is good to hear what your
intentions are and how things are progressing.   

[Wakhid Mukti]

We're going to migrate to LevelDB for block index storing and retrieval. This will speed up the wallet significantly.

https://github.com/magi-project/magi/tree/1.3-exp

1.3-exp contains coarse codes integrated as of yet; it's NOT ready. This is obviously very experimental at this time and yet proves clearance of bugs, that you might not want to try, though I've compiled a wallet currently downloading block chain and going through details. If one is interested, please DO NOT use it in your regular way: don't run it with your old wallet.dat in the directory, and mine or do any other transactions. You'd better to move everything (prior block data + wallet.dat) to elsewhere before launch this experimental wallet. Use your cautions.

So, this is a simple update; I'm posting in case one could help. What I did to spend time on this issue is less urgent compared to other issues; well, I seemed to be in the middle of something; the truth is that there are many stuffs that need to done; tried to get a little step before going into my work. What I intended in the past was to integrate the latest code base. This is mostly a crazy idea for an individual to handle the whole open-source code base.

At this point, it seems a time for me to cover some more. Magi is nearly two years, but we have almost a dev-blank in 2015 and beginning of 2016. All came to stuffs of mine, job-changing-relocation-settle-down, so about a life change.

No ETA until I'm done; reason is that I've to take care of my work well without burning in this crypto land; and uncertainties in coding and testing.

An opinion to magi if you'd ask me, I'd keep it going and that seems my only interest in this crypto, no investment in BTC or any things else at all as I do lose my trusts on some things so called people claimed from time to time, you saw that, went through that, and got your judgement; certainly I am interested to the techs, with freedoms to compose, to tackle the tough. If you'd ask me the plans, I do have many, but I'd refrain to talk much before some thing else are actually done. I provided a few thoughts nearly a year before one can check hundred of pages back, absolutely those I'd carry on. Let's see.

Agree and yes dev joe do what you like to do it's your passion on code. And yes magi is the only one coin that have once great dev like you. And by the time, The other great people will come to this coin too. And also he/she or it will help Magi Rise. Always wish you luck dev and thanks for your effort. Also sorry cannot help anything since the beginning. And keep good work dev, we don't know how close you're with every thing you want to reach.

Sup

wakhid mukti

[Coins-R-Us]

Magi is a great coin!  It is one of the few coins than anyone can mine,
using just a regular computer, or an android tablet or phone even!
Magi has super-low transaction fees - like 0.0001 magi.
It also has fast confirmation times - about 1 minute.

I think we need to make it very very easy to mine - i'm thinking
one-click mining, or have the wallet set to mine on one thread
automatically as a default.  You can have the wallet connect to
a pool (if solo-mining is not an option).  I'm not sure how to get
auto-payments to the wallet, maybe the wallet could create an
address just for receiving mining payments.

If that won't work, how about an "anonymous" pool, which requires
only a magi address, and some simplified mining software to go
with it.  Getting past antivirus without triggering it is also an issue.
We should make it so anyone, even without technical skills, can mine.

[cryptonit]

there is lot IF because we dont know exact what changes joe wana implement
but he said he did listen to lot of my suggestions and i did suggest less POW rewards move coinrollout more towards POS and make POS easyer manageable by user (zero micromanagement needed via coin control) if that stuff happens i expect a lower inflation more importance of POS and a rapid raise of coin value (les POW inflation and buy coins to be able produce coins positive market effect on more powerfull POS) i would love a coinsetup where POW create not more than 2% yearly inflation and POS not more than 3% then we have a max 5% inflation and can be considered as a very stable coin setup

i think this days are days of great opportunity for investments into crypto special XMG with a coinmarketcap below 40k $ u can get a significant share of total coins for a bargain


if u clever watch whats going on with BTC u see that in fact
state of the art mining hardware is operating 3 times more power efficient than the older generation
(compare antminer s7 to antminer s9 )

so there is absolute no reason bitcoinprice have to double else mining cant pay power after halfing

old hardware will have to shut down new hardware will be able run profitable

even with below 400$ BTC price

i would use the pre  halving BTC hype to try find the best point move my BTC into altcoins
before reality kill the hype
 
dont follow my estimation
listen to ur own instinct

[joelao95]

Agree and yes dev joe do what you like to do it's your passion on code. And yes magi is the only one coin that have once great dev like you. And by the time, The other great people will come to this coin too. And also he/she or it will help Magi Rise. Always wish you luck dev and thanks for your effort. Also sorry cannot help anything since the beginning. And keep good work dev, we don't know how close you're with every thing you want to reach.

Sup

wakhid mukti

Thanks wakhid; yet to be great.  

...

I think we need to make it very very easy to mine - i'm thinking
one-click mining, or have the wallet set to mine on one thread
automatically as a default.  You can have the wallet connect to
a pool (if solo-mining is not an option).  I'm not sure how to get
auto-payments to the wallet, maybe the wallet could create an
address just for receiving mining payments.

If that won't work, how about an "anonymous" pool, which requires
only a magi address, and some simplified mining software to go
with it.  Getting past antivirus without triggering it is also an issue.
We should make it so anyone, even without technical skills, can mine.

Thanks for the suggestions, Coins-R-Us; I got the point, easy mining. I thought about a plan of wallet improvement and integrating mining into the wallet; by simple clicking enables both PoW and PoS. One of the options and what I wanted to do all along is the P2Pool, which will enable mining to address. Kindly some one would offer such a pool, or I'd do any ways. I also like to see any other opinions coming up.

...
..., maybe magi will be one of the few that really is for anybody.

I hope this is the scene of magi in the near future.

there is lot IF because we dont know exact what changes joe wana implement

I'd avoid talking much before delivery, and to avoid frustrating community, the same reason for "No ETA"; but a simple route for the current release, a speeding wallet seems running well; I got sync done in the past few days, everything seems running okay, wallet comes up in a minute or so. I'll get another improvement done plus few minor fixes, then release candidates.

but he said he did listen to lot of my suggestions and i did suggest less POW rewards move coinrollout more towards POS and make POS easyer manageable by user (zero micromanagement needed via coin control) if that stuff happens i expect a lower inflation more importance of POS and a rapid raise of coin value (les POW inflation and buy coins to be able produce coins positive market effect on more powerfull POS) i would love a coinsetup where POW create not more than 2% yearly inflation and POS not more than 3% then we have a max 5% inflation and can be considered as a very stable coin setup

Yea bud, you have some good points. I'd take the route of revising the monetary system to make magi healthy; however, I'd resist to make changes for the sake of coin value, very much a scene of pure PoS coins and the like, which, I believe not helping coin value in the long run but a possibility of leading to centralization, let alone fail to catch the interests of miners. In general, the majority of the coins should be distributed through a de-centralized way in a significant long period, over which sufficient miners join the party and get a share. One of the conclusions that the total coins generated, e.g., through PoW, should be much greater than PoS, can thus be drawn; same for why mining should stay low. For this reason, I would not think 2% PoW over 3% PoS is a good combination. Though I tend to stick to PoW, a "smart" bridge of PoW and PoS can be a go, for example, when mining goes misbehaving. I do have to re-evaluate the number of coins being distributed, but most likely I suggest to make no changes for consistency throughout.

[groggin]

Agree and yes dev joe do what you like to do it's your passion on code. And yes magi is the only one coin that have once great dev like you. And by the time, The other great people will come to this coin too. And also he/she or it will help Magi Rise. Always wish you luck dev and thanks for your effort. Also sorry cannot help anything since the beginning. And keep good work dev, we don't know how close you're with every thing you want to reach.

Sup

wakhid mukti

Thanks wakhid; yet to be great.  

...

I think we need to make it very very easy to mine - i'm thinking
one-click mining, or have the wallet set to mine on one thread
automatically as a default.  You can have the wallet connect to
a pool (if solo-mining is not an option).  I'm not sure how to get
auto-payments to the wallet, maybe the wallet could create an
address just for receiving mining payments.

If that won't work, how about an "anonymous" pool, which requires
only a magi address, and some simplified mining software to go
with it.  Getting past antivirus without triggering it is also an issue.
We should make it so anyone, even without technical skills, can mine.

Thanks for the suggestions, Coins-R-Us; I got the point, easy mining. I thought about a plan of wallet improvement and integrating mining into the wallet; by simple clicking enables both PoW and PoS. One of the options and what I wanted to do all along is the P2Pool, which will enable mining to address. Kindly some one would offer such a pool, or I'd do any ways. I also like to see any other opinions coming up.

...
..., maybe magi will be one of the few that really is for anybody.

I hope this is the scene of magi in the near future.

there is lot IF because we dont know exact what changes joe wana implement

I'd avoid talking much before delivery, and to avoid frustrating community, the same reason for "No ETA"; but a simple route for the current release, a speeding wallet seems running well; I got sync done in the past few days, everything seems running okay, wallet comes up in a minute or so. I'll get another improvement done plus few minor fixes, then release candidates.

but he said he did listen to lot of my suggestions and i did suggest less POW rewards move coinrollout more towards POS and make POS easyer manageable by user (zero micromanagement needed via coin control) if that stuff happens i expect a lower inflation more importance of POS and a rapid raise of coin value (les POW inflation and buy coins to be able produce coins positive market effect on more powerfull POS) i would love a coinsetup where POW create not more than 2% yearly inflation and POS not more than 3% then we have a max 5% inflation and can be considered as a very stable coin setup

Yea bud, you have some good points. I'd take the route of revising the monetary system to make magi healthy; however, I'd resist to make changes for the sake of coin value, very much a scene of pure PoS coins and the like, which, I believe not helping coin value in the long run but a possibility of leading to centralization, let alone fail to catch the interests of miners. In general, the majority of the coins should be distributed through a de-centralized way in a significant long period, over which sufficient miners join the party and get a share. One of the conclusions that the total coins generated, e.g., through PoW, should be much greater than PoS, can thus be drawn; same for why mining should stay low. For this reason, I would not think 2% PoW over 3% PoS is a good combination. Though I tend to stick to PoW, a "smart" bridge of PoW and PoS can be a go, for example, when mining goes misbehaving. I do have to re-evaluate the number of coins being distributed, but most likely I suggest to make no changes for consistency throughout.

So I talked about a coin, but not that closely relevant to what business may care about (appears); however, imho the basics will change the way it goes, significantly.

 fwiw i agree a long PoW is a good thing, especially where phones and laptops (refrigerators? light bulbs?) may soon be seen as mobile/family mining rigs, KUTGW dev, lets get this stuf into the hands of the people    

[Wakhid Mukti]

  wish best for magi.. as long as i don't have rig nothing much i can talk here hehe..
and rent rig was bad idea to do..  

[lionheart78]

wish best for magi.. as long as i don't have rig nothing much i can talk here hehe..
and rent rig was bad idea to do..  

 think while you are waiting for your rig, why wont your restaurant accept XMG as payment?

OT: nice to see you on your jr. member suit NK