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

[Johnny00]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

[starmman]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

Hi, you don't need to Stake for POI, you simply leave your balance in an account without touching it and 111magic will send the interest in form of payment - you have to register your address in order to participate in the scheme.

[Johnny00]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

Hi, you don't need to Stake for POI, you simply leave your balance in an account without touching it and 111magic will send the interest in form of payment - you have to register your address in order to participate in the scheme.

i meant in general if i'm a long term holder what can i do with Magi if i can't stake it.

[z0n0]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

Hi, you don't need to Stake for POI, you simply leave your balance in an account without touching it and 111magic will send the interest in form of payment - you have to register your address in order to participate in the scheme.

i meant in general if i'm a long term holder what can i do with Magi if i can't stake it.

Don't worry too much about staking. Magi staking profit is less than minimal.
I'm not even staking my 30k XMG.

[Redrover]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

Group your coins into a few blocks of around 2000 - 2500 and you really only need to open the wallet once a day or every other day and they should stake relatively quickly, (couple hours), at least this works for me.

[Johnny00]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

Group your coins into a few blocks of around 2000 - 2500 and you really only need to open the wallet once a day or every other day and they should stake relatively quickly, (couple hours), at least this works for me.

How often would coins stake normally if wallet is open at all the time.

[Abiky]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

You can always try staking your Coin Magi on the cloud if you cannot have your computer on 24/7. There are several methods like using a VPS or even a cloud computing service like AWS. I use VPS myself for staking coins and have obtained very good results. The more you leave the wallet open, the higher are the chances of receiving stakes. 

[Cipalino]

only 5,566,898 XMG
and now a lot of coins will be no more at poloniex -
You know it is good chance for magi to fly in sky now

they are not delisting xmg because they bought XMG or are buying still to pump it till 5 $ like XMR

[Johnny00]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

You can always try staking your Coin Magi on the cloud if you cannot have your computer on 24/7. There are several methods like using a VPS or even a cloud computing service like AWS. I use VPS myself for staking coins and have obtained very good results. The more you leave the wallet open, the higher are the chances of receiving stakes. 

Does staking cover your monthly costs though? Also how safe are they and trustworthy? Can you back it up? Risk of them jut taking all of your data?

[Abiky]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

You can always try staking your Coin Magi on the cloud if you cannot have your computer on 24/7. There are several methods like using a VPS or even a cloud computing service like AWS. I use VPS myself for staking coins and have obtained very good results. The more you leave the wallet open, the higher are the chances of receiving stakes. 

Does staking cover your monthly costs though? Also how safe are they and trustworthy? Can you back it up? Risk of them jut taking all of your data?

I'm only using the $4 a months VPS service from CrownCloud (OpenKVM virtualization) It has 2GB and a decent amount of storage. I have the wallet encrypted and perform constant backups towards my local PC. Usually, I can cover the costs by staking coins with higher APR rate like Hyperstake and Pulse. (as I'm not making much with XMG). With them, I make around $11 a month with the amount of coins I hold in total. Still, there is the risk of the possibility of them taking all your data so it is advised to make backups constantly and proceed with caution. 

[Redrover]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

Group your coins into a few blocks of around 2000 - 2500 and you really only need to open the wallet once a day or every other day and they should stake relatively quickly, (couple hours), at least this works for me.

How often would coins stake normally if wallet is open at all the time.

I could be wrong on this but what I've seen, it makes no difference if you leave the wallet open 24/7 or just open it once every day or two and let all of the coins stake before you close the wallet, as long as you are using coin control (old wallet) and/or have the config file setup in the new wallet to maintain your block sizes around 1200 - 2500 then it becomes automagic. 

At current rates, we aren't getting rich via staking.  I'd estimate that a stack of 2000 xmg in one block stakes an average 1/2 a coin every 1-2 days but this fluctuates so it's difficult to put an exact number to it.
In my wallet, I keep the blocks close to 1400 per and they stake almost once every day and each block will generate anywhere from 0.1 - 0.3 xmg in stake "almost daily" so it's not a lot but it is consistent when you maintain the block sizes.  I open the wallet before I go to bed and close it when I get up, this has been working great especially with the new wallet and the config file.

One other thing to keep in mind, the staking sweetspot, if I'm not mistaken, is less than 6 days before you start losing weight.  Once your coins get to approximately 6 days and have not staked, you might as well just resend them back to yourself and start the timer over again.  I don't think I've seen a single block ever stake in my wallet that was older than 6 days but then again, I've used coin control to manage my block sizes since I started collecting magi.

[starmman]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

Group your coins into a few blocks of around 2000 - 2500 and you really only need to open the wallet once a day or every other day and they should stake relatively quickly, (couple hours), at least this works for me.

How often would coins stake normally if wallet is open at all the time.

I could be wrong on this but what I've seen, it makes no difference if you leave the wallet open 24/7 or just open it once every day or two and let all of the coins stake before you close the wallet, as long as you are using coin control (old wallet) and/or have the config file setup in the new wallet to maintain your block sizes around 1200 - 2500 then it becomes automagic. 

At current rates, we aren't getting rich via staking.  I'd estimate that a stack of 2000 xmg in one block stakes an average 1/2 a coin every 1-2 days but this fluctuates so it's difficult to put an exact number to it.
In my wallet, I keep the blocks close to 1400 per and they stake almost once every day and each block will generate anywhere from 0.1 - 0.3 xmg in stake "almost daily" so it's not a lot but it is consistent when you maintain the block sizes.  I open the wallet before I go to bed and close it when I get up, this has been working great especially with the new wallet and the config file.

One other thing to keep in mind, the staking sweetspot, if I'm not mistaken, is less than 6 days before you start losing weight.  Once your coins get to approximately 6 days and have not staked, you might as well just resend them back to yourself and start the timer over again.  I don't think I've seen a single block ever stake in my wallet that was older than 6 days but then again, I've used coin control to manage my block sizes since I started collecting magi.

Thanks for that Redrover - I'm getting nowhere near as much though staking but I dont send my coins back to myself.
Do you have to send to a different address to regain the weight?
How can you ensure that you send the older coins (or is this automatic)?
Cheers

[starmman]

Interesting, looks like a big chunk of the buy wall has been taken out. It was 7BTC last time I checked - now it is down to about 1.5BTC.

[cryptonit]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

Hi, you don't need to Stake for POI, you simply leave your balance in an account without touching it and 111magic will send the interest in form of payment - you have to register your address in order to participate in the scheme.

i meant in general if i'm a long term holder what can i do with Magi if i can't stake it.

Don't worry too much about staking. Magi staking profit is less than minimal.
I'm not even staking my 30k XMG.

this is a alarm signal as i stated before
the incentive to contribute to network and have a 24/7 active wallet
is not provided by POS the way its set up now

[111magic]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

Hi, you don't need to Stake for POI, you simply leave your balance in an account without touching it and 111magic will send the interest in form of payment - you have to register your address in order to participate in the scheme.

i meant in general if i'm a long term holder what can i do with Magi if i can't stake it.

Don't worry too much about staking. Magi staking profit is less than minimal.
I'm not even staking my 30k XMG.

this is a alarm signal as i stated before
the incentive to contribute to network and have a 24/7 active wallet
is not provided by POS the way its set up now

Is Joe working on improvements for that? Might missed that during the holidays!

[Redrover]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

Group your coins into a few blocks of around 2000 - 2500 and you really only need to open the wallet once a day or every other day and they should stake relatively quickly, (couple hours), at least this works for me.

How often would coins stake normally if wallet is open at all the time.

I could be wrong on this but what I've seen, it makes no difference if you leave the wallet open 24/7 or just open it once every day or two and let all of the coins stake before you close the wallet, as long as you are using coin control (old wallet) and/or have the config file setup in the new wallet to maintain your block sizes around 1200 - 2500 then it becomes automagic. 

At current rates, we aren't getting rich via staking.  I'd estimate that a stack of 2000 xmg in one block stakes an average 1/2 a coin every 1-2 days but this fluctuates so it's difficult to put an exact number to it.
In my wallet, I keep the blocks close to 1400 per and they stake almost once every day and each block will generate anywhere from 0.1 - 0.3 xmg in stake "almost daily" so it's not a lot but it is consistent when you maintain the block sizes.  I open the wallet before I go to bed and close it when I get up, this has been working great especially with the new wallet and the config file.

One other thing to keep in mind, the staking sweetspot, if I'm not mistaken, is less than 6 days before you start losing weight.  Once your coins get to approximately 6 days and have not staked, you might as well just resend them back to yourself and start the timer over again.  I don't think I've seen a single block ever stake in my wallet that was older than 6 days but then again, I've used coin control to manage my block sizes since I started collecting magi.

Thanks for that Redrover - I'm getting nowhere near as much though staking but I dont send my coins back to myself.
Do you have to send to a different address to regain the weight?
How can you ensure that you send the older coins (or is this automatic)?
Cheers

You can send the coins back to yourself (the same address) or create a new address in the same wallet if you like, remember to make a new backup if you create a new address.
Choose the oldest coins via coin control - enable this via settings, options, display - check the box to display coin control features.
After this is enabled, you have new info in the Send tab, click Inputs, then List mode, and sort by confirmations and you will have the oldest coins at the top.  Any blocks with more than about 7000 confirmations would be considered old and are most likely losing weight.

Using coin control, you can now bundle the exact blocks of coins of your choice and send them back to yourself, this is also how you bundle tiny amounts into one larger block of coins that will be ready to stake within a day.

There are many tutorials on using coin control, even a few in this thread that will explain it more in depth.  It's a great tool for managing your wallet.

@cryptonit - yes this is an alarm signal when 30k of coins is not really cost effective to stake due to the very low interest rate.  There is not much incentive to keep the wallet running 24/7 and securing the network at these rates and lately (the last 2 weeks) some big miners have completely messed up the mining rewards again, and this has also hurt staking even more due to the difficulty swings.

Right now, the best way to 'profit' with magi is buying and selling the market swings, unfortunately you can't do that and stake the coins at the same time unless you don't mind moving coins quite often.  On the plus side, moving coins on and off the exchanges is fast.

The latest wallet from Joe is a HUGE time saver for those of us who are staking and were using coin control every single day to manage the wallet.  Now we have an automatic solution via the config file that maintains the block sizes for us and we only really need to use coin control now to initially setup our block sizes and for combining small amounts from mining rewards.

[Redrover]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

Hi, you don't need to Stake for POI, you simply leave your balance in an account without touching it and 111magic will send the interest in form of payment - you have to register your address in order to participate in the scheme.

i meant in general if i'm a long term holder what can i do with Magi if i can't stake it.

Don't worry too much about staking. Magi staking profit is less than minimal.
I'm not even staking my 30k XMG.

this is a alarm signal as i stated before
the incentive to contribute to network and have a 24/7 active wallet
is not provided by POS the way its set up now

Is Joe working on improvements for that? Might missed that during the holidays!

Several people have suggested or requested that the staking interest be increased and a while back Joe acknowledged this and I think said he will be looking into it, (or I dreamed it and it is wishful thinking) 
Joe has made it clear in the past that he favors mining over staking and that's how he set it all up to begin with.

I think now would be a good time to give people a reason to accumulate xmg - one way to do that is to increase the staking rewards (a lot) - kind of like how banks 'used' to pay us to save money, somehow that way of thinking has disappeared.

Another way is via the POI campaigns but this is only short term and actually benefits exchange trading more than the people staking.

It's complicated, you make a change in one place and it affects things in other areas but I do hope the next update will reward the holders of magi by increasing the interest rate from less than 1% to a more incentivizing rate of return of around 5-10%.  Who knows?  Joe already surprised us with a new wallet that can automatically manage our block sizes which is awesome!  In the meantime, the profits are on the exchanges.

[Johnny00]

XMG dropped to 3K satoshi now, big drop from 4.2K. i wonder if it has to do with the delisting of many coins for no reason on poloniex

[111magic]

XMG dropped to 3K satoshi now, big drop from 4.2K. i wonder if it has to do with the delisting of many coins for no reason on poloniex

Might be. Good news is Magi (XMG) stays on Poloniex.
Think the drop is ok. Few weeks ago value XMG was +- 2K Satoshi. So looks very good!

[111magic]

that's very good interest. My problem is I can't run a computer all day long in order to stake. Any suggestions to do with my XMG?

Hi, you don't need to Stake for POI, you simply leave your balance in an account without touching it and 111magic will send the interest in form of payment - you have to register your address in order to participate in the scheme.

i meant in general if i'm a long term holder what can i do with Magi if i can't stake it.

Don't worry too much about staking. Magi staking profit is less than minimal.
I'm not even staking my 30k XMG.

this is a alarm signal as i stated before
the incentive to contribute to network and have a 24/7 active wallet
is not provided by POS the way its set up now

Is Joe working on improvements for that? Might missed that during the holidays!

Several people have suggested or requested that the staking interest be increased and a while back Joe acknowledged this and I think said he will be looking into it, (or I dreamed it and it is wishful thinking) 
Joe has made it clear in the past that he favors mining over staking and that's how he set it all up to begin with.

I think now would be a good time to give people a reason to accumulate xmg - one way to do that is to increase the staking rewards (a lot) - kind of like how banks 'used' to pay us to save money, somehow that way of thinking has disappeared.

Another way is via the POI campaigns but this is only short term and actually benefits exchange trading more than the people staking.

It's complicated, you make a change in one place and it affects things in other areas but I do hope the next update will reward the holders of magi by increasing the interest rate from less than 1% to a more incentivizing rate of return of around 5-10%.  Who knows?  Joe already surprised us with a new wallet that can automatically manage our block sizes which is awesome!  In the meantime, the profits are on the exchanges.

Yes indeed. Joe can you look into the above ideas?