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

[111magic]

You'll have to excuse me if this has been answered somewhere else earlier in the thread. I tried searching and I think i understand but I'm not too sure
for POW, this is just like any other coin, you mine and get rewards, seems simple enough. Go too high in hash and the difficulty will increase to negatively impact performance, again, makes sense.
for POS, as I understand it, all you need to do is hold coins in the wallet, and you'll incur basically "interest"? Is this correct?
Sorry, somewhat new to magi and very excited to get on board!

No problem if those questions are asked before. Reading all posts here (730) pages takes days

https://asktom.cf/index.php?topic=735170.msg9991269#msg9991269
Above the link with more info about POS.

Magi also had (4 times) the Proof of Interest campaigns were you can receive interest with keeping coins in your wallet. Last Poi campaign gave 6.7% Interest.
Any questions just ask and welcome.

[s0sunny]

Is POI campaign still running? If yes, how long it will last?

[111magic]

Is POI campaign still running? If yes, how long it will last?

No amigo POI campaign IV was finished. Magi hopes to launch a new POI campaign in the future.

[byter.sky]

looks like again till 10k we can go now easy  . Best time to buy now cheap 

[starmman]

Is POI campaign still running? If yes, how long it will last?

POI ended a couple of weeks ago - the payout was 6.7%, pretty good for 3 months of keeping funds in a wallet - I've been picking a few extra Magi up whilst they have been relatively cheap.

[starmman]

looks like again till 10k we can go now easy  . Best time to buy now cheap 

Haha, hope it says lower for a bit longer - so more people can get involved. I also think Magi will hit 10k again sometime this year,

[preble]

this community is much more active than coins that have 10 times the market cap. either magi is way undervalued or the others are overvalued or both.

[111magic]

this community is much more active than coins that have 10 times the market cap. either magi is way undervalued or the others are overvalued or both.

Thanks for the nice words Preble & CrazyC265.
Magi community is indeed very friendly and active.
You are very welcome here!

[starmman]

What is exactly the end goal of magi

That's one for Joe or 111magic to answer officially =)

I see Magi as a coin that is scaled for fairness, the algorithm is unique as it stops rewarding when big miners get on board - so makes it better for the smaller miner and deters the larger miner. This could make the coin valuable - and helps with even distribution, since its difficult to mine a lot of - it could also make the larger miners move away from the coin as they can't make immediate profit - but as more people get involved I think the rarity of the coin will increase and this will hopefully translate to greater value.

There is certainly no other project like Magi around. It has quite a few USP's.

[starmman]

- has the _II gone? I always associate magi with Σ_II

IMO it might be better to drop the _II thing off; II was initially correlating with PoS, so called "PoS-II", which, from what I can see, is sort of mixing with, for example, PoS2.0 or whatsoever few other PoS things out there. Regarding PoS, I'm under impression of putting a more general representation of, say magi's PoS, and would give the abbreviation mPoS a go, which was mentioned a while ago as a planned thing. Additionally, considering II is not much related to PoW, Σ itself stands for magi (currency symbol as well), and for both PoW and PoS.

- will new users easily be able to associate the coin with the logo?

A good point. Actually that's been one of the reasons I had in mind to make such a change. The present version looks pretty, but not so distinct to distinguish the sigma, especially when it comes to 16x16; for example, the icon on http://coinmarketcap.com/currencies/magi/. Making the sigma distinct at a small scale, and standing out from a list of coin icons would benefit obviously. According to my tests, the new wallet has a better visual across a couple of different desktops. When we talk about the big version like 1024, however, it isn't looking so nice; better designs with enhancements would make it better, and I hope I can improve further or someone can help.

Let me know any ideas, and if one wants to try different designs.

Thanks for the clarification Joe - then all makes sense to me =)

[111magic]

What is exactly the end goal of magi

That's one for Joe or 111magic to answer officially =)

I see Magi as a coin that is scaled for fairness, the algorithm is unique as it stops rewarding when big miners get on board - so makes it better for the smaller miner and deters the larger miner. This could make the coin valuable - and helps with even distribution, since its difficult to mine a lot of - it could also make the larger miners move away from the coin as they can't make immediate profit - but as more people get involved I think the rarity of the coin will increase and this will hopefully translate to greater value.

There is certainly no other project like Magi around. It has quite a few USP's.

Yes right Starmman. Sorry for my late response.
But i see you gave a good answer. Thanks for that.
Another thing is that Magi gives all people in the world a good & easy way to mine and learn about this unique  digital currency. People don't need a very fast or expensive computer to mine XMG. Think about people living in other places. In some countries people live 1 month with $100,-  In other countries you need $100,- for a week or less. So the value of XMG and the option to mine it with a simple computer or idle gives more people the option to do. Magi also has some awesome campaigns like the Proof of Interest campaign.
Last interest-rate was 6.7% What bank would give you that in only  3 months.

Magi achieved most goals because of the help or support
of the awesome Magi community or crypto-friends.
Magi team does not hold big wallets and is working on the future of the currency in the spare time they have next to busy jobs and their family's.
Magi team is doing this because we believe in the great future of digital currencies and special Magi.

I can tell so many good things about our developer or others but than this post will because more a book.
I just would like to say that whatever happend with Magi  (XMG) value up or down, new exchanges, removed or hacked exchanges, more services, etc.... Magi team will be here and stays always friendly and supporting.

During the last years Magi (team) had good times and bad times.
We lost teammembers, (RIP my friend), accidents, less time to work on the currency, added on Cryptsy etc..

But for sure we believe Magi is the next generation currency for all people living everywhere! And we will continue working on that.

Sorry for the long post!


http://www.blockchaindynamics.net/voting.html
Vote for Magi here pls.

[jediwashuu]

Has anyone tried running this on a Pine64?  I have one with ROKOS v7 on it, and have successfully got it to attach to a NAS for a bitcoin node, and now i would like to do the same for a magicoin node.  When i download the wallet from the website, it does not actually seem to open for me.  Suggestions to make it open?

[111magic]

Thanks for the quick reply. Voted too. Hope to bag some more around here

Thanks for voting & welcome in the Magi community!

[the_drugs]

Have you guys thought about updating main page with a new roadmap. Not criticizing but its nice if the first page has a clean decisive roadmap to breakdown project.

If not just updating with a roadmap, some of the links in the main page seem to be dead or not working anymore, at least on my end. Some cleaning up would make it a bit easier to get started with the coin, or at least less confusing for some of the new guys like myself. 

[joelao95]

Have you guys thought about updating main page with a new roadmap. Not criticizing but its nice if the first page has a clean decisive roadmap to breakdown project.

If not just updating with a roadmap, some of the links in the main page seem to be dead or not working anymore, at least on my end. Some cleaning up would make it a bit easier to get started with the coin, or at least less confusing for some of the new guys like myself.  

Exactly; I'll clean these things up and fill in descriptions / clarifications like what's magi's PoW, and how PoS worked out. A to-do-list is a must also. Busy in getting the overdue release ready, will divert my focus on the OP once the new wallets are released.

[joelao95]

Has anyone tried running this on a Pine64?  I have one with ROKOS v7 on it, and have successfully got it to attach to a NAS for a bitcoin node, and now i would like to do the same for a magicoin node.  When i download the wallet from the website, it does not actually seem to open for me.  Suggestions to make it open?

I guess there isn't well established process of running magi on Pine64. I recommend either compiling the daemon from source, or if you could stick to magi that far, I'll get this issue sorted out in the near future.

[joelao95]

I see a massive pump coming for magi. The volume has increased a lot recently over 2000 a day over the last month. For a coin of this size that is very substantial.

I am also impressed with this coin. I mine and stake it in wallet. I will accept it for payment of my legal services until further notice. George D. Greenberg, Esq. www.attorneybitcoin.com

Many thanks. I'll put your site into OP once XMG is accepted; just let us know.

[joelao95]

What is exactly the end goal of magi

That's one for Joe or 111magic to answer officially =)

I see Magi as a coin that is scaled for fairness, the algorithm is unique as it stops rewarding when big miners get on board - so makes it better for the smaller miner and deters the larger miner. This could make the coin valuable - and helps with even distribution, since its difficult to mine a lot of - it could also make the larger miners move away from the coin as they can't make immediate profit - but as more people get involved I think the rarity of the coin will increase and this will hopefully translate to greater value.

There is certainly no other project like Magi around. It has quite a few USP's.

Yes right Starmman. Sorry for my late response.
But i see you gave a good answer. Thanks for that.
Another thing is that Magi gives all people in the world a good & easy way to mine and learn about this unique  digital currency. People don't need a very fast or expensive computer to mine XMG. Think about people living in other places. In some countries people live 1 month with $100,-  In other countries you need $100,- for a week or less. So the value of XMG and the option to mine it with a simple computer or idle gives more people the option to do. Magi also has some awesome campaigns like the Proof of Interest campaign.
Last interest-rate was 6.7% What bank would give you that in only  3 months.

Magi achieved most goals because of the help or support
of the awesome Magi community or crypto-friends.
Magi team does not hold big wallets and is working on the future of the currency in the spare time they have next to busy jobs and their family's.
Magi team is doing this because we believe in the great future of digital currencies and special Magi.

I can tell so many good things about our developer or others but than this post will because more a book.
I just would like to say that whatever happend with Magi  (XMG) value up or down, new exchanges, removed or hacked exchanges, more services, etc.... Magi team will be here and stays always friendly and supporting.

During the last years Magi (team) had good times and bad times.
We lost teammembers, (RIP my friend), accidents, less time to work on the currency, added on Cryptsy etc..

But for sure we believe Magi is the next generation currency for all people living everywhere! And we will continue working on that.

Sorry for the long post!


http://www.blockchaindynamics.net/voting.html
Vote for Magi here pls.

Magic, Starmman thanks for that, and many others who helped this coin. Magic, I wish everything is just going smooth for you.

In addition to those mentioned, I'd add a general view of the coin for which we aren't 100% done, as to setting down the ultimate goal. In my view, the how-it-work principle as mentioned implies that distributing coins (PoW mining or PoS minting) can just be done (and have to be done) with cost effective devices (wide available), without consuming much resources, that is, energies saved, which means a lot nowadays. The legitimacy of these two purposes are obviously right, but much overlooked in this crypto land, from what I can see.

Another feature of magi is its PoS; looks like it wasn't understood very well; that's due in part to that some detailed information is missing. Details here: https://asktom.cf/index.php?topic=735170.msg9991269#msg9991269. Put it in simple, both of the following won't work well in magi's PoS: staking with a significant amount of coins, or accumulating a significant amount of staking time, either of which may cause security issue in a PoS coin. This part is mostly done; I also planned a close look at it as well in the near future.

As to the end goal, it is certain that we want magi be widely used, as a payment system, and beyond.

[starmman]

Have you guys thought about updating main page with a new roadmap. Not criticizing but its nice if the first page has a clean decisive roadmap to breakdown project.

If not just updating with a roadmap, some of the links in the main page seem to be dead or not working anymore, at least on my end. Some cleaning up would make it a bit easier to get started with the coin, or at least less confusing for some of the new guys like myself.  

Exactly; I'll clean these things up and fill in descriptions / clarifications like what's magi's PoW, and how PoS worked out. A to-do-list is a must also. Busy in getting the overdue release ready, will divert my focus on the OP once the new wallets are released.

Great stuff - I think a roadmap will make a massive impact on people adopting the coin - its one of that main things new investors will look at when completing a fundamental analysis when deciding on which coin to invest.

[111magic]

Have you guys thought about updating main page with a new roadmap. Not criticizing but its nice if the first page has a clean decisive roadmap to breakdown project.

If not just updating with a roadmap, some of the links in the main page seem to be dead or not working anymore, at least on my end. Some cleaning up would make it a bit easier to get started with the coin, or at least less confusing for some of the new guys like myself.  

Exactly; I'll clean these things up and fill in descriptions / clarifications like what's magi's PoW, and how PoS worked out. A to-do-list is a must also. Busy in getting the overdue release ready, will divert my focus on the OP once the new wallets are released.

Great stuff - I think a roadmap will make a massive impact on people adopting the coin - its one of that main things new investors will look at when completing a fundamental analysis when deciding on which coin to invest.

Who can make a good roadmap? Joe?