Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 255. (Read 2375622 times)

Thanks for the info. Iam not on Bittrex at this moment.
Prepare Christmas dinner!😉

I have a few deposits to Bittrex already waiting for hours now.
They stopped at 4/30 confirmations.
Very strange, the first one of three deposits was sent hours before the other ones and had already 3 confirmations.
Now they have all 4 confirmations. (for hours)
I guess Bittrex is fucking Magi at this moment, so be prepared on a major pump done by the staff of bittrex.
I would not buy anything now above 5000, just wait until tomorrow, be prepared.

ok, thank you @trader03 & @abraxsis

Does anyway know when will start POS ? Do I need to download a new POS wallet or i can still use the existing version for staking?
Did not realise i mine this coin since 2015 . Got a few coin to stake !!Yay....

Also noticed the sell-wall on Bittrex. Think it ok if its there.
If it would be gone what will happen with the value?
The coming hard-fork will show us what will happen after its released. I always liked a stable grow in value.

So took some time to look at the order book on Bittrex and the charts. (Bittrex only goes back so far).

It's relatively sideways trading... which tells me and is an indication of slow accumulation by a small handful of buyers. Buying small amounts over a long stretch to not increase or spike the price.

There's a single sell wall at 0.00005000 that is actually getting chipped away at.

Anyone holding that many coins (about 1/4 has been chewed off already); wouldn't just leave that wall there losing potential profit at higher price points.

So the sideways trading (clear accumulation indicator and the sell wall at 5000 Satoshis) are two clear indicators that large holders want the price to remain low. The reason, to buy low. And keep accumulating as many XMG at low prices until the price goes up. (They remove the sell walls/hardfork is released/new features announced/etc).

But this is just basic trading logic; no inside information - I just got this from looking at the books and charts.

Will be exciting to see what comes along with the Hardfork ahead...

Cheers!

Strato

I stand corrected if all of that is true. I mined XMG a long while ago. I simply held my coins until even now. I saw some posts regarding POS now that POW was over and assumed the POW cycle had ended...

Sorry for the misinformation there.

But I will say the Dev is active here in the forums; I spent an hour or so browsing through posts and he seems to post a lot/answer questions/etc - or should I say members of the Dev Team.

I know the hardfork is in the works however; and I know their goal is to release it when it is 100% ready for a successful and smooth transition.

I think things will be quiet in general for the next week with all cryptos (as it's the holidays), but I'm sure everyone will be back at it January 2nd; and the crypto world will keep on spinning. Hoping for good things with XMG!

Cheers!

Strato

Totally agree, except for the part about "The Dev Team is Active, and the community knew POW was coming to an end after it's long and successful POW run." There is still plenty of mining capability left, people are still mining a few XMG a week with a Raspberry Pi, plus the ecological aspect of Magi. Its not just ASIC resistant, it is also large miner resistant, as the more hashes you pump at it the slower the payout becomes. Im no expert, but I think XMG has at least another year of being approachable by miners from all but the most humble of machines. In fact, the only reason mining has been slow was a youtube video that was put out and suddenly there was an influx of miner breaking the speed limits, which tanked the reward output. Some block rewards dropped from 40+ to <1 because of it. But, The only reason mining has stopped completely right now was an attack on the coin, which is what is being fixed in the hardfork, along with some extras. Mining and PoW are far from over.

Strato thank you for the friendly words here.
Magi really appriciate that!
Merry Christmas to you also.

In regards to the Hardfork / POS, we will obviously have to wait and see what the Dev Team Rolls out; but the Hardfork was planned; and MAGI already implemented a POS-II Proof of Stake Specification in its generation model. So I would think POS would be included at the very least, perhaps there's a surprise in store, only time will tell.

In regards to Bittrex increasing its confirmation requirements for MAGI deposits, I think it may be a combination of the fact that they are clearly overloaded at the moment and going through growing pains as they've seen a huge influx of new traders start using their services. They've since tightened down a bit in terms of withdraw restrictions, verification on accounts, minimum order requirements - all of this plus MAGI not being the only coin to see an increase in required confirmations before balances appear tell me they are simply "putting the breaks on" a bit, to slow down support requests, number of trades, etc. Also factor in the fact it's the Holidays. I don't think the increase in confirmations is a red flag, simply a reflection of the overall marketwide shift we are seeing with Bittrex as they upgrade their servers and software and start allowing new enrollments.

I'm personally bullish on MAGI, but most who know me I have an affinity for CPU based / ASIC resistant coins. MAGI has a lot of potential.

- It's a well aged coin, launched August 2014. (The Average/Median Coin Age on Bittrex from Coin Launch to Date is Jan/2016).  Putting MAGI deep into the "well established" side of the spectrum of coins listed on Bittrex.

- It's current price point is around 0.00004000; which is typically the sweet spot when coins start to take off. (The top 30 Coins on Bittrex for Top % 24 Gains usually have a median price point of 0.00008000) putting aside high priced or single/double digit Satoshi coins.  

- The Dev Team is Active, and the community knew POW was coming to an end after it's long and successful POW run. We're in the middle of the holidays so I think we'll just have to wait and see, as any rebase of the coin's code / daemon will have to be timed properly because all of the exchanges will have to implement the new software on their servers (And Bittrex is a clear signal that exchanges are swamped right now).

-Looking back on the last few months of this huge rise in crypto prices, the long established coins are now appearing to be clear winners alongside the newer super hyped coins- they hold up. Doge is a great example which I recommended on Reddit a few weeks ago saying it was a solid buy between it's then current 30 Satoshi Price and Under... Now it's 70.

- Certainly no crystal ball here... but MAGI seems to me to be in a prime position to be a coin that could see a multifold (2x, 4x, 10x, 20x) price increase over time; depending on what the Dev rolls out and where BTC's price to fiat goes from here. Simply saying it's high on my short list of contenders.

Looking forward to seeing what is to come.

Merry Christmas All!

Strato

Since mining stopped the price went up. Maybe only Pos?

Merry X-mas awesome Magi community!

An awesome Christmas gift would be the ability to get my miners back online

Noflike Krystdagen en in lokkich nijjier!

Merry Christmas all

I wish you all a very merry Christmas!! Spend a lovely Christmas Eve with your loved ones.

The pools are currently down pending a hard fork that should be here in soon.

hola, eso es porque la moneda ha estado en un proceso de hard-fork. Pronto se restaurará la minería, saludos.

during downtime i start to learn more about linux and set up my pi3 cluster to start mining alone
and i decided to buy a new toy Dell R900