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

[AngryWhiteWolf]

About 10 days since last wallet update. To me it looks pretty stable, no more forks. Is it safe to say to the exchanges to go with it?
Sorry, I was a little bit busy in the last couple of days and didn't have time to follow this thread properly.
Or is it another solution to come back on trading?

[Windozxpert]

Hello everyone,

I have been mining magi since 2 months till I stopped about the time the problems happened.

After that I came to this post and realized i was just killing the network.

I was new to mining and XMG was the first coin that came up when I googled CPU mine able coins.

I have access to about 60 I7 machines and 6 16 core Xeon servers and I was mining at them 24 / 7 (we don't have electricity bills in the country I am in).

I made about 5500 XMG in one month and in the fork problems I also lost a lot of coins.

I had no idea that putting in more PCs will simply reduce the reward as I was too lazy to come here and read first.

Now I have just put 10 PCs for XMG (2 hours a day) and remaining are mining VRM (6 hours a day) only.

Sorry people.

We appreciate the apology.

[bfons]

Hello everyone,

I have been mining magi since 2 months till I stopped about the time the problems happened.

After that I came to this post and realized i was just killing the network.

I was new to mining and XMG was the first coin that came up when I googled CPU mine able coins.

I have access to about 60 I7 machines and 6 16 core Xeon servers and I was mining at them 24 / 7 (we don't have electricity bills in the country I am in).

I made about 5500 XMG in one month and in the fork problems I also lost a lot of coins.

I had no idea that putting in more PCs will simply reduce the reward as I was too lazy to come here and read first.

Now I have just put 10 PCs for XMG (2 hours a day) and remaining are mining VRM (6 hours a day) only.

Sorry people.

Thanks for curtailing the nodes.

[jediwashuu]

I am happy that it seems we have not seen more forks.  I hope that issue is resolved permanently!

2 questions:  First, my wallet does not seem to be staking anymore.  Any suggestions on this?  My posii is set to 1.  Second, is there a way to purge bad transactions that were sent to my wallet from a forked chain?  they will never clear, and I am just tired of seeing it listed as unconfirmed.

Thanks!

[speedyb]

is this magi coin is it a scrypt coin? is it at all profitable on a CPU? as my gpus are already in use?

[111magic]

Hello everyone,

I have been mining magi since 2 months till I stopped about the time the problems happened.

After that I came to this post and realized i was just killing the network.

I was new to mining and XMG was the first coin that came up when I googled CPU mine able coins.

I have access to about 60 I7 machines and 6 16 core Xeon servers and I was mining at them 24 / 7 (we don't have electricity bills in the country I am in).

I made about 5500 XMG in one month and in the fork problems I also lost a lot of coins.

I had no idea that putting in more PCs will simply reduce the reward as I was too lazy to come here and read first.

Now I have just put 10 PCs for XMG (2 hours a day) and remaining are mining VRM (6 hours a day) only.

Sorry people.

We appreciate the apology.

Thanks for your post huz_akh Good thing you posted this here. Welcome in our strong & friendly Magi community.
Speedyb also welcome & pls read the OP. (Post 1)

[ex33s]

is this magi coin is it a scrypt coin? is it at all profitable on a CPU? as my gpus are already in use?

this coin doesn't use scrypt, it uses m7m which is cpu-only.

[starmman]

Hello everyone,

I have been mining magi since 2 months till I stopped about the time the problems happened.

After that I came to this post and realized i was just killing the network.

I was new to mining and XMG was the first coin that came up when I googled CPU mine able coins.

I have access to about 60 I7 machines and 6 16 core Xeon servers and I was mining at them 24 / 7 (we don't have electricity bills in the country I am in).

I made about 5500 XMG in one month and in the fork problems I also lost a lot of coins.

I had no idea that putting in more PCs will simply reduce the reward as I was too lazy to come here and read first.

Now I have just put 10 PCs for XMG (2 hours a day) and remaining are mining VRM (6 hours a day) only.

Sorry people.

Thanks for reading up and taking action =) And welcome to the community

[The Frisian]

I have access to about 60 I7 machines and 6 16 core Xeon servers and I was mining at them 24 / 7 (we don't have electricity bills in the country I am in).

Why don't you have electricity bills, and what country are you from?
We pay in the Netherlands 25 cent for every Kwh.
(actually the price is 5 cent, plus 20 cent taxes, for environment  )

[starmman]

I have access to about 60 I7 machines and 6 16 core Xeon servers and I was mining at them 24 / 7 (we don't have electricity bills in the country I am in).

Why don't you have electricity bills, and what country are you from?
We pay in the Netherlands 25 cent for every Kwh.

I know Qatar has free electricity - not sure about anywhere else =)

[abudfv2008]

I have access to about 60 I7 machines and 6 16 core Xeon servers and I was mining at them 24 / 7 (we don't have electricity bills in the country I am in).

Why don't you have electricity bills, and what country are you from?
We pay in the Netherlands 25 cent for every Kwh.

In exUSSR countries sysops usually don't pay for electricity and mine without permission. Some sort of extra salary

[abudfv2008]

In reply to my previous post and following comments:

CPU miner meaning us - the people. Not talking about software! Karbowanec is a CPU only mined coin just as MAGI is supposed to be.

The problem? Huge Bot-nets, server farms, illegal workplace nets and anyone else with more than a one or two home computers.

Setting Pool rules doesn't help as many of the high KH/S users are indeed the pool owners (referring to other coins since I don't use MAGI - no offense meant to pool owners on this thread!)

Oh and you really hope to get rich without any efforts/investments, just mine with home PC?
It is market economy. It is impossible to get 1000$/month per 1CPU. If the coin is more profitable to mine than other coins, than someone sooner or later will come and drop the profitability to/below average level.
So, there are 2 types of investments.
1) Hardware/software
2) Your time, effort, luck to search and find most profitable coins to mine.

So, if you sit still on your ass than it is normal to earn 1 cent in 2 days.

[AngryWhiteWolf]

There are no taxes, the government is taking the burden of producing electricity and sparing the residents from its price.

There is electricity bill but its about 0.4 cents KWH which is included in the rent.

So you use it as much as you want or not at all, it doesn't matter.

The computers that I am mining on are free 24 / 7 as the department has closed.

If I use all computers after office hours I can mine on 1200 (ofcourse all are not i7's , its mix of i3's, i5's and i7's)

Sometimes I wonder how much XMG and VRM I can make if I use all at once !

I am mining only as a curiosity of what all this bitcoin fuzz is all about not as an earning.

Thanks.

Let us know how it goes. Having so many computers in hand is very hard to manage all of them.
Better use only i7 and eventually i5. Don't know much about VRM but with Magi is way too much CPU power.

[carlisle1]

I have access to about 60 I7 machines and 6 16 core Xeon servers and I was mining at them 24 / 7 (we don't have electricity bills in the country I am in).

Why don't you have electricity bills, and what country are you from?
We pay in the Netherlands 25 cent for every Kwh.

I know Qatar has free electricity - not sure about anywhere else =)

so that's the reason why a friend of mine planning to build his rig since its a free electricity in that country he's an OFW so  he told me
about this plan and ask me if I also wanted to invest with his rig now I understand I will ask him to check this coin and see if we can see some
good gain after.

[starmman]

I have access to about 60 I7 machines and 6 16 core Xeon servers and I was mining at them 24 / 7 (we don't have electricity bills in the country I am in).

Why don't you have electricity bills, and what country are you from?
We pay in the Netherlands 25 cent for every Kwh.

I know Qatar has free electricity - not sure about anywhere else =)

so that's the reason why a friend of mine planning to build his rig since its a free electricity in that country he's an OFW so  he told me
about this plan and ask me if I also wanted to invest with his rig now I understand I will ask him to check this coin and see if we can see some
good gain after.

Magi is not a good coin for mass/bulk mining as the rewards drop as hash increases - your friend would likely make better profits mining something like Monero

Good to just have a few magi nodes in the mix to keep the rate down

[poer]

why magi cannot deposit to market
bittrex yobbit and nova

[starmman]

why magi cannot deposit to market
bittrex yobbit and nova

Its a request from the devs - the chain was forking which was causing a lot of maintenance for the exchanges - when Joe is happy with the status / found a fix I'm sure he will post here - watch this space =)

[pmsk]

Hello everyone,

I have been mining magi since 2 months till I stopped about the time the problems happened.

After that I came to this post and realized i was just killing the network.

I was new to mining and XMG was the first coin that came up when I googled CPU mine able coins.

I have access to about 60 I7 machines and 6 16 core Xeon servers and I was mining at them 24 / 7 (we don't have electricity bills in the country I am in).

I made about 5500 XMG in one month and in the fork problems I also lost a lot of coins.

I had no idea that putting in more PCs will simply reduce the reward as I was too lazy to come here and read first.

Now I have just put 10 PCs for XMG (2 hours a day) and remaining are mining VRM (6 hours a day) only.

Sorry people.

We appreciate the apology.

Thanks for your post huz_akh Good thing you posted this here. Welcome in our strong & friendly Magi community.
Speedyb also welcome & pls read the OP. (Post 1)

Damn, I talk about non-informed about non-linear reward miners, but all talks pmks are just a troll and everyone know about magi reward model.

Damn, pool owners, you have big hashers emails, just inform miners about reward system, about reward drop after 60 MH/s net hashrate. It's a much more right strategy, then ban scripts. From big miners POV, who dont know about reward drop, you are moronic communists.

First time I also knew nothing about magi reward system. I really thought magi reward model is linear, like other coins. I thought 10x drops with ~constant hashrate is a pool "hacks", cheating and fraud. I even thought about solo mining as a way to avoid pool "cheating", because I found only tips like "If you dont trust pool stats, just mine solo or create your own pool"

Put info about reward model in the first line of the first post, at every pool, send emails to miners. Simple matter, isnt it?

[starmman]

Nice to hear that Magi likely wasn't under attack - most likely just a lack of due diligence

Seems to be a big drop in crypto today, magi not so badly affected (as usual), any idea what is causing the drop?

[kadok29]

Nice to hear that Magi likely wasn't under attack - most likely just a lack of due diligence

Seems to be a big drop in crypto today, magi not so badly affected (as usual), any idea what is causing the drop?

china prohibe ICO !!