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

[starmman]

Not sure if you guys have been following this - The Bitcoin ETF decision was rejected hence the 15% drop in BTC/USD overnight.

Hmm are they not ready for it? They are waiting for Magi!

Haha, I think that you are right there - they must be =)

There seemed to be quite a bit of market swings overnight - all seems to have calmed down a little today

[versprichnix]

my biggest issue with this coin is a few stakers seem to have configured to mazimize rewards while the avg holder wit some big coins cannot reap stake rewards

i originally bought this cointo hold n stake longterm but it seems pretty crazy if u have 300k 400k n cnt get a reward, so while i dnt make it a habit of atoring large amount coins on polo seems not logical keep in wallet tht reaps no benefits

I'm also a big holder, and I bought this coin because of this feature. I stopped staking for long, it's not profitable for me. In a human world small entities have an advantage against big entities (at least no disadvantage). We could discuss, if the disadvantage for big holders is too large. The feature is for promoting decentralisation, and this goal is welcome in my eyes, and so I stay invested.

[The Frisian]

its pretty simple in my eyes. staking secures the network. if staking is not profitable or the incentive is too small,    im not staking. if many think this way and i know they do since i have had this convo many times . this is a big disadvantage for ur coin. this is the vision of the dev and i reapect that but i have a hard time wrapping my head around it. not the way to succeed imo.

The staking reward is around 3-4%, what's the problem with this?
If you have 10K XMG you earn around 1 XMG coin a day by staking.

[111magic]

Think time will tell. I know Joe is working on different improvements for Magi. Step by step things will be better.
I also think that Magi has raised in value & might raise more in the future. This year Magi will be 3 years old.
I'am with Magi from the beginning & noticed all ups and downs during this period. Magi won the most Friendliest Community  award and think that we all are very proud that we could share our opinions here. Thats something what will make Magi stronger. Learning from eachother and working on the future of Magi. Let's continue!

[starmman]

its pretty simple in my eyes. staking secures the network. if staking is not profitable or the incentive is too small,    im not staking. if many think this way and i know they do since i have had this convo many times . this is a big disadvantage for ur coin. this is the vision of the dev and i reapect that but i have a hard time wrapping my head around it. not the way to succeed imo.

Are you using the split and combine parameters in your magi.conf? That usually helps maximise staking rewards - plus the odd bit of coin control to catch the coins that are past 10k-15k confirmations and push them back into 'the optimal staking zone'

# Transaction under stake with a value greater than the threshold is being splitted
stakesplitthreshold=500

# Transactions with values less than the threshold will combine into one
stakecombinethreshold=250

[starmman]

Think time will tell. I know Joe is working on different improvements for Magi. Step by step things will be better.
I also think that Magi has raised in value & might raise more in the future. This year Magi will be 3 years old.
I'am with Magi from the beginning & noticed all ups and downs during this period. Magi won the most Friendliest Community  award and think that we all are very proud that we could share our opinions here. Thats something what will make Magi stronger. Learning from eachother and working on the future of Magi. Let's continue!

Great words (as usual 111magic), lets hops we can build on where we are - the coin is currently on an up trend, lets see if it moves to the next level this year.

[111magic]

Think time will tell. I know Joe is working on different improvements for Magi. Step by step things will be better.
I also think that Magi has raised in value & might raise more in the future. This year Magi will be 3 years old.
I'am with Magi from the beginning & noticed all ups and downs during this period. Magi won the most Friendliest Community  award and think that we all are very proud that we could share our opinions here. Thats something what will make Magi stronger. Learning from eachother and working on the future of Magi. Let's continue!

Great words (as usual 111magic), lets hops we can build on where we are - the coin is currently on an up trend, lets see if it moves to the next level this year.

Thanks Starmman! Yes the next level will be a goal!

[joelao95]

the more coins you stake the bigger the rewards, sure if by default u can only stake 10k at a time in a wallet , who wants to run 30 wallets. People dont want to have to optimize and change paramaters manually. i should be able to download the wallet and stake my stash and reap rewards. the staking is more centralized here by the few who have messed with paramaters or devs that can optimize their rewards. good luck to this coin but this is not a long term for me

I can't argue more, bud. There are info around one can easily pick up. If you don't think this PoS meant something, we're fine too. There are really things you misunderstood; 10k at a time staking in a wallet is a very wrong understanding. I believe a more general staking will serve your purpose which can be found from a coin list. Good luck!

[BitcoinNational]

@Crazy

https://bitcointalk.org/index.php?topic=1718048.0
there's a list of POS coins

[111magic]

im fully aware of how pos works and the coins, this coin staking system is just not very good in my eyes thats all i am saying. good luck tho guys was friendly place atleast

Thanks Crazy. We always stay friendly. Good luck.

[joelao95]

This is only part of the things we're doing I'd say, and I know where we're heading. All were being designed according to what's supposed to be -- a purpose, and the things hence worked out as such. Of course, we shouldn't talk merely all just the basic coin things, instead we're keen to some more horizons I'd like to be going. Stay tuned..

[starmman]

im fully aware of how pos works and the coins, this coin staking system is just not very good in my eyes thats all i am saying. good luck tho guys was friendly place atleast

Sorry to hear that Magi didn't work out for you - I think one of the unique characteristics about magi is that they are pretty difficult to acquire in a large quantity, I think that's one of the reasons behind the slow and steady growth. It's not being pumped so often as its pretty difficult to generate many coins quickly (this also stops the coin from being inflationary) - but its growing due to the USP's, I'm much happier with slow and steady.

Maybe some of the changes that Joe is planning to add to the wallet will make staking easier in the future. I hope we see you back here again one day

Cheers

[starmman]

There has been some good movement in the Magi price this afternoon - market cap (averaged over a few hours) is approaching its ATH, value is currently $250k, another good (and promising) milestone if it stays there for a while. There is a lot of wild fluctuation on the alt coin markets this week so I'm not getting too excited yet.

[111magic]

There has been some good movement in the Magi price this afternoon - market cap (averaged over a few hours) is approaching its ATH, value is currently $250k, another good (and promising) milestone if it stays there for a while. There is a lot of wild fluctuation on the alt coin markets this week so I'm not getting too excited yet.

Yes indeed its very nice to see. Hope it will be an upward trend!

[TheOATeam]

Some whale came into Poloniex and posted a 28 BTC buy wall this afternoon. I think this is what finally pushed the price up. Time will tell if this is a legitimate buy wall or not..
If he/she withdraws that wall, get ready for a roller coaster ride lol

[The Frisian]

Some whale came into Poloniex and posted a 28 BTC buy wall this afternoon. I think this is what finally pushed the price up. Time will tell if this is a legitimate buy wall or not..
If he/she withdraws that wall, get ready for a roller coaster ride lol

28 BTC? Where?
Or is this wall gone already?

[starmman]

Some whale came into Poloniex and posted a 28 BTC buy wall this afternoon. I think this is what finally pushed the price up. Time will tell if this is a legitimate buy wall or not..
If he/she withdraws that wall, get ready for a roller coaster ride lol

28 BTC? Where?
Or is this wall gone already?

It's probably a day trader - they usually take their wall away (and close their orders) at the end of the day, could be back again today if they are starting a Magi campaign.

[111magic]

Some whale came into Poloniex and posted a 28 BTC buy wall this afternoon. I think this is what finally pushed the price up. Time will tell if this is a legitimate buy wall or not..
If he/she withdraws that wall, get ready for a roller coaster ride lol

28 BTC? Where?
Or is this wall gone already?

It's probably a day trader - they usually take their wall away (and close their orders) at the end of the day, could be back again today if they are starting a Magi campaign.

Let's hope they do that. Value looks stable

[marvynmesquita]

Hello everyone!!!
I love magi and it's my favorite crypto.
But i don't have a good cpu for mine it.
Actually i'm mining on codenvy, but it's only keep alive for 10min.
Anyone knows another good free vps(or ide)?

[starmman]

Hello everyone!!!
I love magi and it's my favorite crypto.
But i don't have a good cpu for mine it.
Actually i'm mining on codenvy, but it's only keep alive for 10min.
Anyone knows another good free vps(or ide)?

Hi,

Welcome to the community marvynmesquita - you don't need a fantastic CPU for magi, if you keep mining with a small CPU for a long time you'll gain some magi periodically when the block size increases.

Unfortunately, I didn't see any free CPU power for quite a long time due to the very reason of people using it to mine.