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

[starmman]

Looks like BTC has hit its all time high - Magi still seems to be holding up pretty well compared to most other coins. Price vs BTC has dropped but we havn't lost the recent rise in market cap.

Yes Magi is doing very nice. Btc might drop little more next week.

I hope so - the BTC bull has been stronger than I expected again.

[The Frisian]

left my coins in wallet 2 weeks, synced chain no problem, had 10 connections but of course like others no rewards. Bit dissappointed but went back to exchange

If PoS is not happening within a week, it's most likely overstaked; that is, the coin age falls into the tail of the following, which may not lead to a successful PoS any more.



There is a need to reset the coin age then.

We will get some easy tools into the wallet so that one can easily figure out what's going on.

Joe, what would be the best blocksize for maximum PoS value?
I can't figure this out of the figures  above.
I now use blocksize of 1000 XMG (without splitting),
PoS reward around 1 XMG per 10K XMG a day. (4%)

[111magic]

Looks like BTC has hit its all time high - Magi still seems to be holding up pretty well compared to most other coins. Price vs BTC has dropped but we havn't lost the recent rise in market cap.

Yes Magi is doing very nice. Btc might drop little more next week.

I hope so - the BTC bull has been stronger than I expected again.

Looks like its going up again!

[ujang1]

left my coins in wallet 2 weeks, synced chain no problem, had 10 connections but of course like others no rewards. Bit dissappointed but went back to exchange

If PoS is not happening within a week, it's most likely overstaked; that is, the coin age falls into the tail of the following, which may not lead to a successful PoS any more.



There is a need to reset the coin age then.

We will get some easy tools into the wallet so that one can easily figure out what's going on.

Joe, what would be the best blocksize for maximum PoS value?
I can't figure this out of the figures  above.
I now use blocksize of 1000 XMG (without splitting),
PoS reward around 1 XMG per 10K XMG a day. (4%)

.
Maybe it is very small, only 600 coins per day will be created. The normal level is 10%.

[starmman]

left my coins in wallet 2 weeks, synced chain no problem, had 10 connections but of course like others no rewards. Bit dissappointed but went back to exchange

If PoS is not happening within a week, it's most likely overstaked; that is, the coin age falls into the tail of the following, which may not lead to a successful PoS any more.



There is a need to reset the coin age then.

We will get some easy tools into the wallet so that one can easily figure out what's going on.

Joe, what would be the best blocksize for maximum PoS value?
I can't figure this out of the figures  above.
I now use blocksize of 1000 XMG (without splitting),
PoS reward around 1 XMG per 10K XMG a day. (4%)

.
Maybe it is very small, only 600 coins per day will be created. The normal level is 10%.

IMO a lower staking reward is good - keeps people active and accumulating the coin but doesn't cause major devaluation of the currency which is what can happen with some of the currencies that give a large reward...

[starmman]

Looks like BTC has hit its all time high - Magi still seems to be holding up pretty well compared to most other coins. Price vs BTC has dropped but we havn't lost the recent rise in market cap.

Yes Magi is doing very nice. Btc might drop little more next week.

I hope so - the BTC bull has been stronger than I expected again.

Looks like its going up again!

Market cap value is looking very good - we are stabilising at around the 200k mark, if it stays where it is for a bit longer I think there is a good chance for a further rise.

[111magic]

Looks like BTC has hit its all time high - Magi still seems to be holding up pretty well compared to most other coins. Price vs BTC has dropped but we havn't lost the recent rise in market cap.

Yes Magi is doing very nice. Btc might drop little more next week.

I hope so - the BTC bull has been stronger than I expected again.

Looks like its going up again!

Market cap value is looking very good - we are stabilising at around the 200k mark, if it stays where it is for a bit longer I think there is a good chance for a further rise.

I agree with that. We will continue with the awesome  future of Magi.

[cryptonit]

Looks like BTC has hit its all time high - Magi still seems to be holding up pretty well compared to most other coins. Price vs BTC has dropped but we havn't lost the recent rise in market cap.

Yes Magi is doing very nice. Btc might drop little more next week.

I hope so - the BTC bull has been stronger than I expected again.

Looks like its going up again!

Market cap value is looking very good - we are stabilising at around the 200k mark, if it stays where it is for a bit longer I think there is a good chance for a further rise.

I agree with that. We will continue with the awesome  future of Magi.

as soon as joe update POW diff engine + dynamic diff based reduced rewards
we will see much less POW coins rolled out per day and a way more competive coin inflation

mining diff will increase with coin price and more miners joining and this way XMG have a automated selfmade POW reward reduction

but yes the downside will be much of the time people mine for little gains
but thats the idea of XMG POW that by reduce rewards with increasing diff u keep away the mining farms

and single CPU who run 24/7 without care about diff and rewards will be the people who really earn the XMG POW coin rollout

the sell pressure will be lot less and trader instead of miner will have main marketprice impact

[sylph93]

I have been buying 125K XMG so far, I will buy more.
AMD's new cpu Rayzen will ignite CPU coins, XMG for sure. Soon we will see 1M market cap. it's not impossible goal. 

My concern is marketing. OP has out-of-date informations such as link of dead exchange, Cryptsy, etc.

There will be altcoin supercycle after end of long BTC rally. Let's prepare.

[111magic]

I have been buying 125K XMG so far, I will buy more.
AMD's new cpu Rayzen will ignite CPU coins, XMG for sure. Soon we will see 1M market cap. it's not impossible goal. 

My concern is marketing. OP has out-of-date informations such as link of dead exchange, Cryptsy, etc.

There will be altcoin supercycle after end of long BTC rally. Let's prepare.

Thats right amigo. Magi could use a lot of help with marketing. Everybody is welcome to help a little.
Together we can achieve more

[starmman]

I just completed my first successful - fully automated Magi transaction =) exciting stuff.

[rotzbouf]

I like the idea behind new POW engine. It will be very interesting to see how it will influence the price of the coin and of course how interesting it will remain for ppl to mine it. Sure there will always be those who mine the coin cause they beleive in it. but those who mine it currently for profit, they could leave the coin as it will not be worth anymore.

[starmman]

I like the idea behind new POW engine. It will be very interesting to see how it will influence the price of the coin and of course how interesting it will remain for ppl to mine it. Sure there will always be those who mine the coin cause they beleive in it. but those who mine it currently for profit, they could leave the coin as it will not be worth anymore.

I was wondering about that myself - the question that is in my head is 'will the larger players still value the coin and move to the exchanges (buy instead of mine) or will they simply move to another coin', I think if more people are aware of Magi and we continue the growth the first answer will be more likely.

[Visi0n4ry]

Looks like BTC has hit its all time high - Magi still seems to be holding up pretty well compared to most other coins. Price vs BTC has dropped but we havn't lost the recent rise in market cap.

Yes Magi is doing very nice. Btc might drop little more next week.

I hope so - the BTC bull has been stronger than I expected again.

Looks like its going up again!

Market cap value is looking very good - we are stabilising at around the 200k mark, if it stays where it is for a bit longer I think there is a good chance for a further rise.

I agree with that. We will continue with the awesome  future of Magi.

as soon as joe update POW diff engine + dynamic diff based reduced rewards
we will see much less POW coins rolled out per day and a way more competive coin inflation

mining diff will increase with coin price and more miners joining and this way XMG have a automated selfmade POW reward reduction

but yes the downside will be much of the time people mine for little gains
but thats the idea of XMG POW that by reduce rewards with increasing diff u keep away the mining farms

and single CPU who run 24/7 without care about diff and rewards will be the people who really earn the XMG POW coin rollout

the sell pressure will be lot less and trader instead of miner will have main marketprice impact

I like the idea behind new POW engine. It will be very interesting to see how it will influence the price of the coin and of course how interesting it will remain for ppl to mine it. Sure there will always be those who mine the coin cause they beleive in it. but those who mine it currently for profit, they could leave the coin as it will not be worth anymore.

This is verry hard to tune because if you lower the rewards to much you end up with only enthusiasts and botnets mining that dont care about electricity cost.
To make sure to get always a fair reward the network has not only to scale considering the actual coin price, it also has to consider how many hashrate it needs at the moment accordingt to the amount of incoming transactions to always allow them to proced fast. To do this in perfection the network has to learn and predict a large arise before it occurs to make sure the hashrate is pumped when it hapens.  To make it realy fair it also has to cut the reward of big pooled hashrate first, without touching the diff or reward of small contributers what is probably almost impossible. Just take a look on BTC transactions, the network is huge but sometimes transactions take a ridiculous long time while still charging a big transaction fee per kb. To use magi as a payment method as a customer that only wants to pay for goods i would presuppose that my transaction is almost instant like it is at the moment without taking care about how it is done. For sure it will take a lot time to get to the state where thousands of transactions per minute are done on the network but the goal should be to reach and handle this.

Apart from this the best thing that could happen to a Crypto is a large comunity of solo miners with as less as posible big hashpower pools.

[synthgauge]

Looks like BTC has hit its all time high - Magi still seems to be holding up pretty well compared to most other coins. Price vs BTC has dropped but we havn't lost the recent rise in market cap.

Yes Magi is doing very nice. Btc might drop little more next week.

I hope so - the BTC bull has been stronger than I expected again.

Looks like its going up again!

Market cap value is looking very good - we are stabilising at around the 200k mark, if it stays where it is for a bit longer I think there is a good chance for a further rise.

I agree with that. We will continue with the awesome  future of Magi.

Is Bitmark <-> Magi merged mining still possible? An automated marking system rewarding trollbox chatters could dramatically change the balance of forces if it gets implemented into magi, making it a worthy contender to fill ethereums throne.

[joelao95]

Joe, what would be the best blocksize for maximum PoS value?
I can't figure this out of the figures  above.
I now use blocksize of 1000 XMG (without splitting),
PoS reward around 1 XMG per 10K XMG a day. (4%)

Sorry for my delayed reply. I'd say 1000XMG is an ideal number.

However, we might take into account the factors like how much time to get a PoS block, and how much margin generated on a certain base of coins; putting all together would give a more accurate number, for which some cals I haven't had will need to be taken.

I actually would like to put the best number somewhere at or below 500XMG, which is apparently not the case at this moment. I'd get it onto one of the optimizations to be done regarding changes in the PoS. It's not intended to frustrate staking but to enhance network activities without affecting those wallets under frequent staking.

[joelao95]

I just completed my first successful - fully automated Magi transaction =) exciting stuff.

Curious what you got?

[starmman]

I just completed my first successful - fully automated Magi transaction =) exciting stuff.

Curious what you got?

I've written my own winforms based crypto forex client which can connect into multiple API's (currently only implements polo) - has most the features of a web based exchange, added in some basic trigger based trading algorithms which do exactly what I've been doing manually, and notifications once trades have completed, I've not optimised the routines yet (will write a back trace system) but manged four trades overnight which I previously would have missed. I'll post some screenshots later if I work out how =)

[goldlabel]

We are now at 958 likes  , so go to https://www.facebook.com/CoinMagi/ Like us and place your walletadress at the 1000 like post and maby you are the 1000 xmg winner  .

[starmman]

We are now at 958 likes  , so go to https://www.facebook.com/CoinMagi/ Like us and place your walletadress at the 1000 like post and maby you are the 1000 xmg winner  .

I'd forgotten about the 1000 likes campaign, not far away now - how to get the word out there to more people?