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

[joelao95]

Thank you for the fast response joelao95  
Yes i see now the wallet is perfect.  Congrats - you have
done a fantastic job!  Magi is starting to go up already...

People will be thrilled and excited (like me) when they
see this super-fast new wallet.  Thank you very much!  

P.S. Take your time with this, it's going to be great.
There is no need to hurry, and i see you are very busy!

Thanks; there has been some pressures from my real works that's a source I've to live by. so.. When I get myself settled well, ill take magi too. 

[rayman18]

Hi all  

Im trying to mine this coin with about 420KH/s but every time i mine to a pool the xmg/day rewards go down a lot  
Then i change to another pool and in 1-2hours the same happens. I don't understand why this is happening, in that way mining this coin its not profitable  

[lxxtikk]

So low price , 2k sat .
Men, it will explode market price someday like volcano till 500k maybe   
Just wait and watch it

[starmman]

Hi all  

Im trying to mine this coin with about 420KH/s but every time i mine to a pool the xmg/day rewards go down a lot  
Then i change to another pool and in 1-2hours the same happens. I don't understand why this is happening, in that way mining this coin its not profitable  

Hi Rayman18,

The block reward of Magi reduces as hash rate increases to deter big miners. Best thing to do is stick it out with a lower hash rate and use spare resource on other coins. The total hashrate of all pools is currently 60MH/s, the target hashrate is between 20MH/s and 36MH/s, so currently the coin is being overmined which is reducing the block reward for everybody.

To see the current hash rate you can see the following site: - http://poolinfo.coinmagi.org/

[cryptonit]

Hi all  

Im trying to mine this coin with about 420KH/s but every time i mine to a pool the xmg/day rewards go down a lot  
Then i change to another pool and in 1-2hours the same happens. I don't understand why this is happening, in that way mining this coin its not profitable  

mining a coin should be supportive and not profitable in the way that u instant sell the coin for BTC

if u mine XMG then keep holding them

if u mine to sell instant lot other better options available

[rayman18]

Hi all  

Im trying to mine this coin with about 420KH/s but every time i mine to a pool the xmg/day rewards go down a lot  
Then i change to another pool and in 1-2hours the same happens. I don't understand why this is happening, in that way mining this coin its not profitable  

Hi Rayman18,

The block reward of Magi reduces as hash rate increases to deter big miners. Best thing to do is stick it out with a lower hash rate and use spare resource on other coins. The total hashrate of all pools is currently 60MH/s, the target hashrate is between 20MH/s and 36MH/s, so currently the coin is being overmined which is reducing the block reward for everybody.

To see the current hash rate you can see the following site: - http://poolinfo.coinmagi.org/

Hi all 

Im trying to mine this coin with about 420KH/s but every time i mine to a pool the xmg/day rewards go down a lot 
Then i change to another pool and in 1-2hours the same happens. I don't understand why this is happening, in that way mining this coin its not profitable 

mining a coin should be supportive and not profitable in the way that u instant sell the coin for BTC

if u mine XMG then keep holding them

if u mine to sell instant lot other better options available

Thanks both for the answer.

Cryptonit sure im doing it for make a little profit, i don't know any other coins that are cpu minable at this moment. I will lie if i tell you i don't do this to make profit.

[Coins-R-Us]

staking dont seem to work in the new wallet, all my weight from the coins in my wallet are gone

I think this is a feature of Magi to prevent too much offline accumulation of weight, so that people cannot benefit by staking only once a month (like you can with some other coins).  This is a good thing - hurray for Magi! 

If the coins will STILL not gain weight, you just need to MOVE them by sending them to yourself.  Thankfully I don't need to send coins to myself quite so much anymore.

[111magic]

Magi's main thread almost 1.000.000 times read!

[Abiky]

Magi's main thread almost 1.000.000 times read!

That is very good news for Coin Magi. It means that this thread is very popular and there is a lot of interest into Magi itself. Among the different altcoins on the market, I think that Magi is pretty unique. Its mining algorithm and stable price is what makes it a truly one of a kind coin. Also, being a hybrid coin means that you could benefit from mining it as well as holding the coins into your wallet. I hope to participate in the Proof of Interest Campaign real soon. It is going to be huge. Just my opinion. 

[jkminkov]

# Transaction under stake with a value greater than the threshold is being splitted
stakesplitthreshold=600

# Transactions with values less than the threshold will combine into one
stakecombinethreshold=30

how to setup those, I want all inputs that are bellow 30 to combine into at least 600, I still have like 1000+ in inputs lower than 30

[cryptonit]

staking dont seem to work in the new wallet, all my weight from the coins in my wallet are gone

I think this is a feature of Magi to prevent too much offline accumulation of weight, so that people cannot benefit by staking only once a month (like you can with some other coins).  This is a good thing - hurray for Magi! 

If the coins will STILL not gain weight, you just need to MOVE them by sending them to yourself.  Thankfully I don't need to send coins to myself quite so much anymore.

if u move coins take care any coin pile bigger than 15000 XMG will have a high chance to newer mint even after move them
because the ruleset of XMG POS reduce the minting chance based on percentage of total coins and coin age

and for a big coin pile the timewindow he have really a chance to mint is just that short that often it never happens

with pilesize 15000 i had never a problem that it started to mint
but it seems the rewards are not ideal with to big coin pile

i think joe should maybe give coinpiles always a minimum base chance to mint and just reduce the rewards to zero for old coin pile

this way a wallet which was not minting for a month fix itself

first round of POS with 0 rewards but next round works normal

and no micromanagement by user required

[cryptonit]

# Transaction under stake with a value greater than the threshold is being splitted
stakesplitthreshold=600

# Transactions with values less than the threshold will combine into one
stakecombinethreshold=30

how to setup those, I want all inputs that are bellow 30 to combine into at least 600, I still have like 1000+ in inputs lower than 30

stakesplitthreshold=100
stakecombinethreshold=600

this way u should never get a coin pile below 50 and they merge together to above 600

[joelao95]

# Transaction under stake with a value greater than the threshold is being splitted
stakesplitthreshold=600

# Transactions with values less than the threshold will combine into one
stakecombinethreshold=30

how to setup those, I want all inputs that are bellow 30 to combine into at least 600, I still have like 1000+ in inputs lower than 30

In order to merge, one transaction (with value less than stakecombinethreshold) needs either mining a PoS block followed by merging with some other small inputs, or being merged with another stake (with value less than stakecombinethreshold) that mines a block. In your case, those transactions with less than 30 have to find block first, which might take longer time to gain a decent amount of weight. The solution then is to enable big stakes to be able to absorb inputs, i.e., to set stakecombinethreshold to a higher value (higher than the big stakes). I do not recommend set stakecombinethreshold higher than stakesplitthreshold, as cryptonit suggested. Let's say your wallet ends up many transactions with nearly equal values say 600 XMG. I would expect they are just staking and won't be splitting; the reason is that there is a window by magi's PoS mechanism in which those transactions with appropriate values will gain the weight faster than those other transactions with values out of the window. In other words, magi's PoS supposes 600 XMG will gain more weights than two 300 XMG in the long run. So I expect all ends up into this window and then keep staking stably and rapidly.

[joelao95]

..
i think joe should maybe give coinpiles always a minimum base chance to mint and just reduce the rewards to zero for old coin pile

this way a wallet which was not minting for a month fix itself

first round of POS with 0 rewards but next round works normal

and no micromanagement by user required

This would be a nice feature.

[nodecoin5]

Do you have roadmap ?
will be magi  add to azure
I think it has much potential for growing

[starmman]

I'm loving the volatility of the XMG markets right now. Magi is awesome.

[allcoinminer]

Is there a GPU miner for this XMG Coin Magi?

[brizio71]

Hello,
there are any working miner for Mac OSX CPU ?
thanks

[111magic]

I'm loving the volatility of the XMG markets right now. Magi is awesome.

Thanks for the nice words amigo. Genius dev & awesome community can give Magi a great future!
Keep up the good work all!
Btw Magi thread passed 1.000.000 times read!

[The Frisian]

# Transaction under stake with a value greater than the threshold is being splitted
stakesplitthreshold=600
# Transactions with values less than the threshold will combine into one
stakecombinethreshold=30
how to setup those, I want all inputs that are bellow 30 to combine into at least 600, I still have like 1000+ in inputs lower than 30

I use:
stakesplitthreshold=800
stakecombinethreshold=1000

which leads to combining any transaction below 1000 into one,
which will be splitted because 1000+ bigger than 800.
I have after two weeks 50% transactions of around 1200 and 50% transactions around 600.
The weight is not very high but the reward is 3.5 % a year.