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

[Jeremy450]

not impressed

to get 7xmg its costing me $43 aud!!!!!!!!!!

Sorry to sound rude by the ppl who said its cheaper to buy it. are full of crap and don't live in Australia. here we have to sacrifice our money as well as our arms to by anything!!!

[The Frisian]

to get 7xmg its costing me $43 aud!!!!!!!!!!

Why, 1 XMG costs around 1,60 aud.

[ex33s]

not impressed

to get 7xmg its costing me $43 aud!!!!!!!!!!

Sorry to sound rude by the ppl who said its cheaper to buy it. are full of crap and don't live in Australia. here we have to sacrifice our money as well as our arms to by anything!!!

What would it cost to mine 7 xmg?

[edward0181]

not impressed

to get 7xmg its costing me $43 aud!!!!!!!!!!

Sorry to sound rude by the ppl who said its cheaper to buy it. are full of crap and don't live in Australia. here we have to sacrifice our money as well as our arms to by anything!!!

What would it cost to mine 7 xmg?

With current blockreward mining at 300 KHs will do 2.55 xmg per week.
So almost 3 weeks = 3 weeks * 7 days * 24 hrs = 504 hours of mining.
abt 65 Watt of power for a dual xeon processor.
504 hrs mining * 65 Watt power = 32.760 Wh (Watt Hour) = 32 kWh

In the Netherlands 1 kWh cost abt €0.22

So this example would be abt €7.30 to mine 7 XMG
if you can make it to 300 KH/s and have a cheap power consumption on your CPU. This is excluding other costs like the power of your PC / RIG and setup costs of your PC / server

If your CPU is draining way more power then this, just see what 130 Watt of power will cost (twice the amount)

Now take a realistic power consumption for this setup, is abt 390 Watt per hr.
Almost 200 kWh * 0.22 euro = 43 euro for 7 XMG


Simple math?!?

[ex33s]

not impressed

to get 7xmg its costing me $43 aud!!!!!!!!!!

Sorry to sound rude by the ppl who said its cheaper to buy it. are full of crap and don't live in Australia. here we have to sacrifice our money as well as our arms to by anything!!!

What would it cost to mine 7 xmg?

With current blockreward mining at 300 KHs will do 2.55 xmg per week.
So almost 3 weeks = 3 weeks * 7 days * 24 hrs = 504 hours of mining.
abt 65 Watt of power for a dual xeon processor.
504 hrs mining * 65 Watt power = 32.760 Wh (Watt Hour) = 32 kWh

In the Netherlands 1 kWh cost abt €0.22

So this example would be abt €7.30 to mine 7 XMG
if you can make it to 300 KH/s and have a cheap power consumption on your CPU. This is excluding other costs like the power of your PC / RIG and setup costs of your PC / server

If your CPU is draining way more power then this, just see what 130 Watt of power will cost (twice the amount)

Now take a realistic power consumption for this setup, is abt 390 Watt per hr.
Almost 200 kWh * 0.22 euro = 43 euro for 7 XMG


Simple math?!?

Yup, thank you

Then it would cost ~66 AUD to mine 7 xmg where it would cost 43 AUD to buy the same amount. Took the liberty of converting EUR to AUD
But the energy price might be different in Australia so let's say even 60 AUD

[starmman]

to get 7xmg its costing me $43 aud!!!!!!!!!!

Why, 1 XMG costs around 1,60 aud.

I suspect he's looking at conversion fees and costs - if you are buying such a small amount from fiat if there is a fixed fee involved the price per magi on the initial transaction will be more. Bank Transfers also cost a lot - I always use a credit card which reduces the fees and usually buy at least $100 of bitcoin.

Maybe the following link will help...
https://www.buybitcoinworldwide.com/australia/

[qldbiz]

One week of full 24/7 mining for 0.299242 of a magi coin !  Avg of 70- 80k/s  (Max of 130)

All but one friend has left and given up. Way to bring new blood into magi mining guys.

Whales or no whales, there is a major issue with this coin when people are doing the right thing and get penalized because others are not following the rules and the answer you get told around here is to just wait and they will go soon. (or get told you are a cry baby for letting out frustration) friendly lot if your an outsider looking in to join the group

What a load of horse s**t. I bet your mum's told you not to fight when you were a kid and just stand there getting punched, saying "It's OK dear, they will get tried of hurting you at some stage and go away."

This is not even fun doing this now, when you still seeing people running at 1 - 3Mk/s name popping up everywhere in the pools (finding blocks every 90 mins and seeing there actual share they are getting and you can't even find a block) Pool owners don't care at all, they are still getting there cut of the pie

BTW, don't speak your mind around here as everybody is brainwashed and you will be tarred and feathered for pointing out real world facts !!!!!!!!!

That's my 5 cents worth , (Woops forgot about the coin issues) correction, that my 0.000364 of a cents worth but don't worry you will get back close to 5 cents when the whales leave.

[Jeremy450]

One week of full 24/7 mining for 0.299242 of a magi coin !  Avg of 70- 80k/s  (Max of 130)

All but one friend has left and given up. Way to bring new blood into magi mining guys.

Whales or no whales, there is a major issue with this coin when people are doing the right thing and get penalized because others are not following the rules and the answer you get told around here is to just wait and they will go soon. (or get told you are a cry baby for letting out frustration) friendly lot if your an outsider looking in to join the group

What a load of horse s**t. I bet your mum's told you not to fight when you were a kid and just stand there getting punched, saying "It's OK dear, they will get tried of hurting you at some stage and go away."

This is not even fun doing this now, when you still seeing people running at 1 - 3Mk/s name popping up everywhere in the pools (finding blocks every 90 mins and seeing there actual share they are getting and you can't even find a block) Pool owners don't care at all, they are still getting there cut of the pie

BTW, don't speak your mind around here as everybody is brainwashed and you will be tarred and feathered for pointing out real world facts !!!!!!!!!

That's my 5 cents worth , (Woops forgot about the coin issues) correction, that my 0.000364 of a cents worth but don't worry you will get back close to 5 cents when the whales leave.

Yeah "In the year 2525 if man is still alive. they will say"

*Keeps singing to self*

[McCoyn]

That is one of the great strenghts of "Magi" - you CAN get back to affordable mining with your desktop and/or low-end hardware.

I don't know any older coin where you can do that.

"Magi" depends on a reasonable community, bans and restrictions are not reasonable.

Just my 0.05 xmg

[z0n0]

Magic ppl, was the fork successful? Is the new wallet syncing fine? All good?

[edward0181]

Magic ppl, was the fork successful? Is the new wallet syncing fine? All good?

All working as expected indeed.

[starmman]

Magic ppl, was the fork successful? Is the new wallet syncing fine? All good?

Wallet is working fine for me - I seem to be staking a bit less than before - but the chain seems robust...

[ex33s]

Magic ppl, was the fork successful? Is the new wallet syncing fine? All good?

First fork had issues, second fork was successful. Then second fork was because of a bug that we noticed in the first fork (and not during testing) and we fixed it (within 24 hrs).

So all is good with v 1.4.5.3

 

[Iame3]

One week of full 24/7 mining for 0.299242 of a magi coin !  Avg of 70- 80k/s  (Max of 130)

All but one friend has left and given up. Way to bring new blood into magi mining guys.

Whales or no whales, there is a major issue with this coin when people are doing the right thing and get penalized because others are not following the rules and the answer you get told around here is to just wait and they will go soon. (or get told you are a cry baby for letting out frustration) friendly lot if your an outsider looking in to join the group

What a load of horse s**t. I bet your mum's told you not to fight when you were a kid and just stand there getting punched, saying "It's OK dear, they will get tried of hurting you at some stage and go away."

This is not even fun doing this now, when you still seeing people running at 1 - 3Mk/s name popping up everywhere in the pools (finding blocks every 90 mins and seeing there actual share they are getting and you can't even find a block) Pool owners don't care at all, they are still getting there cut of the pie

BTW, don't speak your mind around here as everybody is brainwashed and you will be tarred and feathered for pointing out real world facts !!!!!!!!!

That's my 5 cents worth , (Woops forgot about the coin issues) correction, that my 0.000364 of a cents worth but don't worry you will get back close to 5 cents when the whales leave.

Then there is good reason not to sell it for less than, say 50$ each. Or less than 500$, agree? It will be nice memory about your wasted CPU time and electricity, haha 

[txwooley]

I have a value question for the marketers/traders.

If everyone is sitting on their XMG and staking and no one is buying or selling XMG, doesn't that kill the value?

The idea of PoS is good on it's surface, but if it encourages hoarding instead of trading then it would seem to be counter-productive to Magi as a whole.

Am I missing something?

[111magic]

I have a value question for the marketers/traders.

If everyone is sitting on their XMG and staking and no one is buying or selling XMG, doesn't that kill the value?

The idea of PoS is good on it's surface, but if it encourages hoarding instead of trading then it would seem to be counter-productive to Magi as a whole.

Am I missing something?

People are waiting for Cryptopia & Yobit to update the wallets. Bittrex still has a stop for new cliënts.
After the updates & register is open again more people are able to trade XMG.
Also new exchanges might join in with adding Magi XMG.

[svedex]

why isn't  xpoolx listed in https://poolinfo.systms.org/?

I have a value question for the marketers/traders.

If everyone is sitting on their XMG and staking and no one is buying or selling XMG, doesn't that kill the value?

The idea of PoS is good on it's surface, but if it encourages hoarding instead of trading then it would seem to be counter-productive to Magi as a whole.

Am I missing something?

People are waiting for Cryptopia & Yobit to update the wallets. Bittrex still has a stop for new cliënts.
After the updates & register is open again more people are able to trade XMG.
Also new exchanges might join in with adding Magi XMG.

[xms]

Magic ppl, was the fork successful? Is the new wallet syncing fine? All good?

Wallet is working fine for me - I seem to be staking a bit less than before - but the chain seems robust...

hey,

my wallet is working too, up running and stakeing

gr xms

[ljuni0rl]

My wallet is not staking. I am using the wallet version v1.4.5.3 and the block chain is up to date as well as mPOS minting is enabled.

[ibgeek]

My wallet is not staking. I am using the wallet version v1.4.5.3 and the block chain is up to date as well as mPOS minting is enabled.

Mine isn't either.  Everytime I check it says X Hours until expected reward.   
I have all of my settings as per the instructions given a few pages back.