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

[ArtemisioLuno]

I have bought some xmg and in my wallet i have 2 transactions of 250 xmg and 300 xmg.

in the magi.conf file i have

# Transactions with values less than the threshold will combine into one
stakecombinethreshold=500

should the 2 combine into 1 of 500 xmg?  i only see they stake separately, the 300 xmg more often than the 250 xmg....

[1713997303]

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[starmman]

I have bought some xmg and in my wallet i have 2 transactions of 250 xmg and 300 xmg.

in the magi.conf file i have

# Transactions with values less than the threshold will combine into one
stakecombinethreshold=500

should the 2 combine into 1 of 500 xmg?  i only see they stake separately, the 300 xmg more often than the 250 xmg....

Hi,

yes, they'll eventually combine and stake into blocks of 500 - not sure how it works with smaller quantities of magi - my wallet is full of blocks of 500 magi

[The Frisian]

yes, they'll eventually combine and stake into blocks of 500 - not sure how it works with smaller quantities of magi - my wallet is full of blocks of 500 magi

Blocks of 300 is also okay, look here:

https://chainz.cryptoid.info/xmg/block.dws?2038501.htm

[starmman]

If the coins are no longer transferable from the exchange then they will be effectively locked out of the market

Interesting, still 2.4 million XMG on Bittrex and 88K on Polo.
Some wallets are still used during the last days.

Seems a bit crazy that all that magi is not currently tradeable - I guess the wallet in position 2 must be 'topia

[ArtemisioLuno]

Speaking about exchanges....a new one called XLobs is going to open soon and I proposed XMG to be listed on the exchange! No listing fee required, just vote for xmg to be listed! Vote here https://xlobs.com/vote/

[xms]

Speaking about exchanges....a new one called XLobs is going to open soon and I proposed XMG to be listed on the exchange! No listing fee required, just vote for xmg to be listed! Vote here https://xlobs.com/vote/

hey all,

i voted ...

gr xms

[starmman]

Speaking about exchanges....a new one called XLobs is going to open soon and I proposed XMG to be listed on the exchange! No listing fee required, just vote for xmg to be listed! Vote here https://xlobs.com/vote/

I'll take a look to see if I can find any more information about the exchange - shame they don't expose any address / company information

[The Frisian]

Why looks staking so bad, mostly orphans.



Also the reward was in the past bad, 1 XMG per 10000 a day.
Nowadays it's almost dust, 0.4 XMG per 10000 a day.
(Since the problems may this year and the changes made because of this by Joe)

[starmman]

Why looks staking so bad, mostly orphans.



Also the reward was in the past bad, 1 XMG per 10000 a day.
Nowadays it's almost dust, 0.4 XMG per 10000 a day.
(Since the problems may this year and the changes made because of this by Joe)

Maybe more people staking than my Ning. I think there needs to be a ratio

[The Frisian]

Maybe more people staking than mining. I think there needs to be a ratio

I see almost 75% of the blocks are stake blocks. It's a pity blocksize is very small, only a small fee.
But this doesn't explain the many staking orphans.
I see almost 100 wallets staking, 2500 wallets are mining.

[jcreyesb]

Hi guys, how many XMG i need to a good stake?

[ArtemisioLuno]

Speaking about exchanges....a new one called XLobs is going to open soon and I proposed XMG to be listed on the exchange! No listing fee required, just vote for xmg to be listed! Vote here https://xlobs.com/vote/

I'll take a look to see if I can find any more information about the exchange - shame they don't expose any address / company information

I found a tweet that expose some company information https://twitter.com/LOBSTEXofficial/status/1042475988502958083
I didn't know them too, they seems very new, a new coin (lobstex) was launched on May 2018, but is doing well with just PoS and Masternodes
Now in December they will start the exchange xlobs and a wallet aggregator Kointel
It seems promising to me,looking how new they are and so much development done....let's see if they list XMG on the exchange, at least Magi has been voted 11 times, more than Monero!

Let's hope for Magi to be listed in a new exchange to boost the XMG price a little bit 

Btw, any developer news? I noticed the website for the magi poolinfo website is down or in maintenance....going to https://poolinfo.systms.org/ says the https certificate is not valid and gives a login prompt to zimbra. What happened? Even the explorer https://chainz.cryptoid.info/xmg/ does not return a well formatted page 

[allfriends88]

Hey team, how about magipay application? whether it's been launched? where can I find the application? If the whole world people could use such an application, or just in your country?

[The Frisian]

Hey team, how about magipay application? whether it's been launched? where can I find the application? If the whole world people could use such an application, or just in your country?

I'm afraid the team has gone!

[ArtemisioLuno]

Hi guys, how many XMG i need to a good stake?

i suggest at least 200XMG to stake with some reward every now and then. Better to have from 500 xmg up to 1000 xmg so you can stake more often. (more coins you have more probability you have to be choosed for staking).  In magi.conf they suggest to split big amount of xmg transactions in transactions of 1000xmg so the sweet spot for good stake is between 500 and 1000xmg not more than 1000xmg

[starmman]

Hi guys, how many XMG i need to a good stake?

i suggest at least 200XMG to stake with some reward every now and then. Better to have from 500 xmg up to 1000 xmg so you can stake more often. (more coins you have more probability you have to be choosed for staking).  In magi.conf they suggest to split big amount of xmg transactions in transactions of 1000xmg so the sweet spot for good stake is between 500 and 1000xmg not more than 1000xmg

I worked out a while ago that you needed about 15,000 XMG to generate one XMG per day - however the rate has dropped a lot since some changes in the spring - I'm no longer able to work it out as it fluctutates a little

[The Frisian]

I worked out a while ago that you needed about 15,000 XMG to generate one XMG per day - however the rate has dropped a lot since some changes in the spring - I'm no longer able to work it out as it fluctutates a little

It's now 20,000 XMG (in chunks between 750-1000) to generate one XMG per day.

[phaeliks]

I worked out a while ago that you needed about 15,000 XMG to generate one XMG per day - however the rate has dropped a lot since some changes in the spring - I'm no longer able to work it out as it fluctutates a little

It's now 20,000 XMG (in chunks between 750-1000) to generate one XMG per day.

What you're experiencing here is the variable interest rate of staking coins. As far as i can tell there wasn't a change in the code, rather than the amount of staked coins.
I haven't looked into the code, but in general there's evidence that the amount of staked coins directly influences the interest rate.
I've started tracking the magi metrics sometime back in February and as you can see on the following graph the more coins are staking the higher the interest rate:
https://www.mupload.nl/img/x5ycuqs.jpg

To know how many coins you need to gain 1 Magi per day is quite simple to calculate:
coins needed =  1 / ( stakeinterest / 365 )

you get the current interest rate with the "getmininginfo" method of the magid client. (Users of the GUI-wallet can type in that command in the last tab).
Just notice that numbers changes quite frequently, so you might take a average of the returned values.
I smoothed the following graph and your values seem to fall into that range;
https://www.mupload.nl/img/pryprba.jpg

From my experience staking 100-200 coins is the minimum you should try. below that you probably run into the problem that your coins age faster than they gain weight. As mentioned by others before the sweet-spot seems to be around 500-1k coins

[Hocus]

I worked out a while ago that you needed about 15,000 XMG to generate one XMG per day - however the rate has dropped a lot since some changes in the spring - I'm no longer able to work it out as it fluctutates a little

It's now 20,000 XMG (in chunks between 750-1000) to generate one XMG per day.

What you're experiencing here is the variable interest rate of staking coins. As far as i can tell there wasn't a change in the code, rather than the amount of staked coins.
I haven't looked into the code, but in general there's evidence that the amount of staked coins directly influences the interest rate.
I've started tracking the magi metrics sometime back in February and as you can see on the following graph the more coins are staking the higher the interest rate:
https://www.mupload.nl/img/x5ycuqs.jpg

To know how many coins you need to gain 1 Magi per day is quite simple to calculate:
coins needed =  1 / ( stakeinterest / 365 )

you get the current interest rate with the "getmininginfo" method of the magid client. (Users of the GUI-wallet can type in that command in the last tab).
Just notice that numbers changes quite frequently, so you might take a average of the returned values.
I smoothed the following graph and your values seem to fall into that range;
https://www.mupload.nl/img/pryprba.jpg

From my experience staking 100-200 coins is the minimum you should try. below that you probably run into the problem that your coins age faster than they gain weight. As mentioned by others before the sweet-spot seems to be around 500-1k coins

Not the math we deserve, but the math we needed. Thanks, P!

[starmman]

I worked out a while ago that you needed about 15,000 XMG to generate one XMG per day - however the rate has dropped a lot since some changes in the spring - I'm no longer able to work it out as it fluctutates a little

It's now 20,000 XMG (in chunks between 750-1000) to generate one XMG per day.

What you're experiencing here is the variable interest rate of staking coins. As far as i can tell there wasn't a change in the code, rather than the amount of staked coins.
I haven't looked into the code, but in general there's evidence that the amount of staked coins directly influences the interest rate.
I've started tracking the magi metrics sometime back in February and as you can see on the following graph the more coins are staking the higher the interest rate:


To know how many coins you need to gain 1 Magi per day is quite simple to calculate:
coins needed =  1 / ( stakeinterest / 365 )

you get the current interest rate with the "getmininginfo" method of the magid client. (Users of the GUI-wallet can type in that command in the last tab).
Just notice that numbers changes quite frequently, so you might take a average of the returned values.
I smoothed the following graph and your values seem to fall into that range;


From my experience staking 100-200 coins is the minimum you should try. below that you probably run into the problem that your coins age faster than they gain weight. As mentioned by others before the sweet-spot seems to be around 500-1k coins

Not the math we deserve, but the math we needed. Thanks, P!

Indeed, thanks for sharing. FYI: My first child was born last week - so don't have much time on here these days =)