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

[HeftyMagi]

i think i'm going to kill my miners

at the moment the coin has become pointless and just a waster of power.

if this keeps up and if pools dont start putting limits on miners the coin is going to die.

in 4 hours only uncomfirmed of 0.019243 in 24 hours thats only 0.115458 in 30 days thats 3.46374

Sorry just being honest.

First Thank you Joe and Magic for fast fix

Big hash can be good thing for coin bc mining getting harder, ppl will go and buy more than mine, and those bigger farmers will want profitability so price could go up. If you continue to mine 3xmgs per month would you sell them for 2 bucks?

[Jeremy450]

i think i'm going to kill my miners

at the moment the coin has become pointless and just a waster of power.

if this keeps up and if pools dont start putting limits on miners the coin is going to die.

in 4 hours only uncomfirmed of 0.019243 in 24 hours thats only 0.115458 in 30 days thats 3.46374

Sorry just being honest.

First Thank you Joe and Magic for fast fix

Big hash can be good thing for coin bc mining getting harder, ppl will go and buy more than mine, and those bigger farmers will want profitability so price could go up. If you continue to mine 3xmgs per month would you sell them for 2 bucks?

if loss out weighs profit. there's no point?
Cant keep taking a loss and expect there to be money at the end.

for example. i spend $6.75 a day on electricity
and only earn 1xmg a day that only gives me $0.96

thats a massive loss.

to break even i need to earn almost 7xmg a day to break even.

[finlaydag33k]

For those who want *just* a wallet without all the hassle of syncing and manually updating, I have been making this in the past few days:
https://mymagiwallet.finlaydag33k.nl/

Would be nice if people got to use it and provided me with bug reports n such.
Using this service is at own risk tho, I'm still working on it <3

looks good

just dont make the email address optional in the sign up page.

I have been considering making it mandatory, but it's not meant as a data-farming thing.
I will still keep it in my mind in later updates to make it mandatory for new registrations

your not data farming as your only getting their email address

the email address is classed as a username.

data farming starts when you start getting personal information.

the other thing is i havent seen wat you using as a wallet identifier.
if its complex people wont like it/complain/not use it. hence where the email address comes into play.

true true
I've already made it mandatory just a moment ago

Also, it says it right after the registration screen what the identifier is (the little pop-up)

hmmmmmmmmm i really not going to remember BaqhBnihYUv*****Xqt3eSSwHgClK00marEMOW4NRzqiZrKWSd066SCN9f9Ufahq
as my login, espeically if i'm not on the computer where i saved it. (my little brain cant handle that big thing)

use the email as the login that way its easier to remember

use the acronym "KISS"
Keep
It
Simple
Stupid

(noting bad again you )

I am now working on the ability to use your email as username. (so people won't have to worry about the wallet identifier at all)
now done

[icedfiend]

Network hashrate have climbed up to 156,291.87 KH/s... I don't think this will be sustainable in the long run given the current mining rewards. And looking at staking rewards, I don't think there will be any shortage of coins to trade.

I don't see the point in making an "all in" when none is getting anything but those staking... The only reason is to shut down the network for miners and leave only the ones staking hoarding all the rewards, so this could be considered an attack to the network.

[LordCoder]

I told yall this situation would come sooner or later back in 2015? I don't even remember. Everyone thought I'd be crazy, "nobody" would waste resources to earn nothing. Hahaha, funny stuff.

I love this coin, but things need to get changed.

[HeftyMagi]

i think i'm going to kill my miners

at the moment the coin has become pointless and just a waster of power.

if this keeps up and if pools dont start putting limits on miners the coin is going to die.

in 4 hours only uncomfirmed of 0.019243 in 24 hours thats only 0.115458 in 30 days thats 3.46374

Sorry just being honest.

First Thank you Joe and Magic for fast fix

Big hash can be good thing for coin bc mining getting harder, ppl will go and buy more than mine, and those bigger farmers will want profitability so price could go up. If you continue to mine 3xmgs per month would you sell them for 2 bucks?

if loss out weighs profit. there's no point?
Cant keep taking a loss and expect there to be money at the end.

well i was taking huge loss for months mining darkcoin with small gpu farm, these days i am glad i did it you never know that's crypto

[Jeremy450]

i think i'm going to kill my miners

at the moment the coin has become pointless and just a waster of power.

if this keeps up and if pools dont start putting limits on miners the coin is going to die.

in 4 hours only uncomfirmed of 0.019243 in 24 hours thats only 0.115458 in 30 days thats 3.46374

Sorry just being honest.

First Thank you Joe and Magic for fast fix

Big hash can be good thing for coin bc mining getting harder, ppl will go and buy more than mine, and those bigger farmers will want profitability so price could go up. If you continue to mine 3xmgs per month would you sell them for 2 bucks?

if loss out weighs profit. there's no point?
Cant keep taking a loss and expect there to be money at the end.

well i was taking huge loss for months mining darkcoin with small gpu farm, these days i am glad i did it you never know that's crypto

that's your decision not anyone elses.

if you dont have money to burn. especially on electricity. living is more important then burning money that you dont have/cant waste.

[Jeremy450]

I told yall this situation would come sooner or later back in 2015? I don't even remember. Everyone thought I'd be crazy, "nobody" would waste resources to earn nothing. Hahaha, funny stuff.

I love this coin, but things need to get changed.

yeah pools need to fight the whales (big hashrates)

[s0litaire]

if loss out weighs profit. there's no point?
Cant keep taking a loss and expect there to be money at the end.

for example. i spend $6.75 a day on electricity
and only earn 1xmg a day that only gives me $0.96

thats a massive loss.

to break even i need to earn almost 7xmg a day to break even.

What you using to mine?
and what khash rate are you getting?
Also is that cost per day just on your mining or total household energy usage?

[HeftyMagi]

I told yall this situation would come sooner or later back in 2015? I don't even remember. Everyone thought I'd be crazy, "nobody" would waste resources to earn nothing. Hahaha, funny stuff.

I love this coin, but things need to get changed.

yeah pools need to fight the whales (big hashrates)

network hash dropped down to 55mhs

[realbagdad]

I told yall this situation would come sooner or later back in 2015? I don't even remember. Everyone thought I'd be crazy, "nobody" would waste resources to earn nothing. Hahaha, funny stuff.

I love this coin, but things need to get changed.

definitely. staking rewards compared to mining is bullshit. people who are new are getting basically nothing, while people who have 10000 coins just sit back and get richer. similar to capitalism pretty much, which is fine, except for the fact that this time noobs can't do anything to move up

[ParaplegicRacehorse]

Hopefully, one of the devs can explain this. Why the disparity between PoW DIFF (currently nearly 3.5) and PoS DIFF (0.0004)? I get it that PoW is actively and constantly hashing m7m looking to solve a block. I get that PoS is sometimes hashing scrypt to confirm transations. What drives PoS DIFF up and down, though? The blog post about PoSII doesn't explain it well enough for this mathematical idiot.

[realbagdad]

Hopefully, one of the devs can explain this. Why the disparity between PoW DIFF (currently nearly 3.5) and PoS DIFF (0.0004)? I get it that PoW is actively and constantly hashing m7m looking to solve a block. I get that PoS is sometimes hashing scrypt to confirm transations. What drives PoS DIFF up and down, though? The blog post about PoSII doesn't explain it well enough for this mathematical idiot.

Which blog post? PoS is poorly explained in general IMO. I had to look all over and through dozens of posts to get somewhat of an idea of how it works.

[ParaplegicRacehorse]

What drives PoS DIFF up and down, though? The blog post about PoSII doesn't explain it well enough for this mathematical idiot.

Which blog post? PoS is poorly explained in general IMO. I had to look all over and through dozens of posts to get somewhat of an idea of how it works.

It's way old (m-core blog's been largely inactive for a long time) but http://m-core.org/PoS-II-v2/

[buckonz]

And now for something completely different... I have written and article how to mine Magi Coin on an Odroid XU4 running Ubuntu:

https://forum.odroid.com/viewtopic.php?f=98&t=29479

[HeftyMagi]

I told yall this situation would come sooner or later back in 2015? I don't even remember. Everyone thought I'd be crazy, "nobody" would waste resources to earn nothing. Hahaha, funny stuff.

I love this coin, but things need to get changed.

definitely. staking rewards compared to mining is bullshit. people who are new are getting basically nothing, while people who have 10000 coins just sit back and get richer. similar to capitalism pretty much, which is fine, except for the fact that this time noobs can't do anything to move up

staking rewards are not that good as you think per 10k you would get around 0.005 to 0.01 every day. When you have weight you get 2x 0.0x in one day than as your coins get older you get 1 0.00x and than it flops in few days and than you send your coins to yourself and wait hours or days before having the weight again...you need to have more like half mil to get stakes you imagining

[jpx3m]

Glad to see that everything is working as expected again.

[dury10]

Hello - I made a script to be even more easy to download, install, setup pool details and start mining. Enjoy it! https://github.com/dury10/xmgMinerInstaller This script was made for Raspberry Pi Using aarch64. If you don't have an 64 bit Os take a look at this article! https://steemit.com/raspberry/@dury10/how-to-install-64-bit-os-on-a-raspberry-pi-3-step-by-step-for-newbies

[tazzz013]

Hello - I made a script to be even more easy to download, install, setup pool details and start mining. Enjoy it! https://github.com/dury10/xmgMinerInstaller This script was made for Raspberry Pi Using aarch64. If you don't have an 64 bit Os take a look at this article! https://steemit.com/raspberry/@dury10/how-to-install-64-bit-os-on-a-raspberry-pi-3-step-by-step-for-newbies

Great job!

[s0litaire]

I told yall this situation would come sooner or later back in 2015? I don't even remember. Everyone thought I'd be crazy, "nobody" would waste resources to earn nothing. Hahaha, funny stuff.

I love this coin, but things need to get changed.

definitely. staking rewards compared to mining is bullshit. people who are new are getting basically nothing, while people who have 10000 coins just sit back and get richer. similar to capitalism pretty much, which is fine, except for the fact that this time noobs can't do anything to move up

staking rewards are not that good as you think per 10k you would get around 0.005 to 0.01 every day. When you have weight you get 2x 0.0x in one day than as your coins get older you get 1 0.00x and than it flops in few days and than you send your coins to yourself and wait hours or days before having the weight again...you need to have more like half mil to get stakes you imagining

Staking should give you 3%-5% over a year (better than most banks these days) like most things it ain't a get rich quick thing..