Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 379. (Read 2375631 times)
i read through Magi OP summary and it sounds good to me. with segwit, new wallet and magipay gateway coming soon, I am going to buy some magi coins and hold for good profits
Every thing has two sides, and here's how i think they operate.
When block reward is ~10xmg, they accumulate as much as they can. When they are ready to offload their earnings from mining, they give full power. This will lower block reward but also and more important, it will increase the demand for magi since it's easier to buy then to mine in that case. This in turn causes the price to go up. When they think the price is good enough, they sell and get's back to normal mining.
They can't do that now because of exchanges have their wallets in maintenance mode and not allowing transfer of xmg to exchanges. So now is actually a pretty good time to create a high demand of xmg then to create a high supply of magi.
It's what i'm thinking.
And nothing you can do. Rules written by the victors. You have only two variants - play this game or not. Silly to blame miners because of magi alghorithm.When block reward is ~10xmg, they accumulate as much as they can. When they are ready to offload their earnings from mining, they give full power. This will lower block reward but also and more important, it will increase the demand for magi since it's easier to buy then to mine in that case. This in turn causes the price to go up. When they think the price is good enough, they sell and get's back to normal mining.
They can't do that now because of exchanges have their wallets in maintenance mode and not allowing transfer of xmg to exchanges. So now is actually a pretty good time to create a high demand of xmg then to create a high supply of magi.
It's what i'm thinking.
Well, you are wrong there. Information can always be given. It's matter of you listen or not.
But on the bigger picture, no - I can't do a thing but give information.
Why are you against magi?
I really need to trade my XMG to BTC what can I do I have 953 XMG to trade thats about $250 BTC
3)
We have decided to have a restriction with maximum 300KH/s per user on our pool. This is to ensure that there is a much more fair coin sharing in our pool when the pool find a block. We would like to avoid that some with huge hash take "everything". Therefore with a limit it will give much more fair sharing of the mined coins in our pool. We don't do this for fun. Not either acting as god. But as simple as to give a fair coin distribution between pool members. And at the same time give a help to the global hash to be more at normal level. Remember that very high hash gives low payback.
Do you really think miners with Mh's cann't create their own private pool without limitation or even solo mining? As I previously said, all these movings return us to McCartyism. After migrating to private pools you ask devs to ban 'non-authorized' pools, ban solo mining, limit blocks per minute. Finally you ask for ID card. War is Peace, Freedom is Slavery, and Ignorance is Strength (c)We have decided to have a restriction with maximum 300KH/s per user on our pool. This is to ensure that there is a much more fair coin sharing in our pool when the pool find a block. We would like to avoid that some with huge hash take "everything". Therefore with a limit it will give much more fair sharing of the mined coins in our pool. We don't do this for fun. Not either acting as god. But as simple as to give a fair coin distribution between pool members. And at the same time give a help to the global hash to be more at normal level. Remember that very high hash gives low payback.
Magi already have mechanism to regulate network hashrate. Nobody wants to lose money. If your hashrate is too big - you lose money. Policy "squeeze out" big miners from the pools, depriving themselves of the opportunity to communicate. You cannt ask people do not mine, you can only tell them about non-linear reward per hashrate, so they can reconfigure mining hardware to mine Magi at 50% of power and have no lose.
You ruins Magi with your own hands.
If a pool owner want's limitation on how high hash a user can have, it's up to them. It's not for the team or community to decide, if community disagrees with a pool, they can always mine on another pool
Don't think Magi team will ever disallow private pools (read non-authorized) nor solo-mining (which is basically the same as private pool).
But you are right about it's all about giving out right information on how the mechanism work so all can profit from mining and keep the block reward at a peak level. And yes, if high
Every thing has two sides, and here's how i think they operate.
When block reward is ~10xmg, they accumulate as much as they can. When they are ready to offload their earnings from mining, they give full power. This will lower block reward but also and more important, it will increase the demand for magi since it's easier to buy then to mine in that case. This in turn causes the price to go up. When they think the price is good enough, they sell and get's back to normal mining.
They can't do that now because of exchanges have their wallets in maintenance mode and not allowing transfer of xmg to exchanges. So now is actually a pretty good time to create a high demand of xmg then to create a high supply of magi.
It's what i'm thinking.
And nothing you can do. Rules written by the victors. You have only two variants - play this game or not. Silly to blame miners because of magi alghorithm. When block reward is ~10xmg, they accumulate as much as they can. When they are ready to offload their earnings from mining, they give full power. This will lower block reward but also and more important, it will increase the demand for magi since it's easier to buy then to mine in that case. This in turn causes the price to go up. When they think the price is good enough, they sell and get's back to normal mining.
They can't do that now because of exchanges have their wallets in maintenance mode and not allowing transfer of xmg to exchanges. So now is actually a pretty good time to create a high demand of xmg then to create a high supply of magi.
It's what i'm thinking.
That's their plan.
When you decide to invest in magi, you have two options. Buy or mine. If you think you can't get anything from mining, you buy. And with that the price goes up.
So then you are actually following their plan.
Looks like a difficult one to get out of without the algorithm changing to react much more quickly to hash rate changes - I wouldn't be surprised if they found another way to circumvent the algorithm once changed too. I certainly don't fancy recommending crashing the price to reduce the incentive.When you decide to invest in magi, you have two options. Buy or mine. If you think you can't get anything from mining, you buy. And with that the price goes up.
So then you are actually following their plan.
They still need to keep it balanced, why else all the trouble of doing this? But i can be dead wrong on this too
For this thought to work, they need to organize and keep the balance and as long as they are making $ on it, they will continue doing it.
But it's the more probable explanation i can think of regarding the ups and downs of the block value.
That's their plan.
When you decide to invest in magi, you have two options. Buy or mine. If you think you can't get anything from mining, you buy. And with that the price goes up.
So then you are actually following their plan.
Looks like a difficult one to get out of without the algorithm changing to react much more quickly to hash rate changes - I wouldn't be surprised if they found another way to circumvent the algorithm once changed too. I certainly don't fancy recommending crashing the price to reduce the incentive. When you decide to invest in magi, you have two options. Buy or mine. If you think you can't get anything from mining, you buy. And with that the price goes up.
So then you are actually following their plan.
Wow, for us the standard seems to be around 0.25% for an instant access savings
It because your currency is fairly stable, our is not And other hands - you can get credit for 1%-2% and we get for 12%-13% mortgage
If we were smart, instead of staking we would sell all of our XMG and put the money in Argentina banks
...
If a pool owner want's limitation on how high hash a user can have, it's up to them. It's not for the team or community to decide, if community disagrees with a pool, they can always mine on another pool
Don't think Magi team will ever disallow private pools (read non-authorized) nor solo-mining (which is basically the same as private pool).
But you are right about it's all about giving out right information on how the mechanism work so all can profit from mining and keep the block reward at a peak level. And yes, if high
Every thing has two sides, and here's how i think they operate.
When block reward is ~10xmg, they accumulate as much as they can. When they are ready to offload their earnings from mining, they give full power. This will lower block reward but also and more important, it will increase the demand for magi since it's easier to buy then to mine in that case. This in turn causes the price to go up. When they think the price is good enough, they sell and get's back to normal mining.
They can't do that now because of exchanges have their wallets in maintenance mode and not allowing transfer of xmg to exchanges. So now is actually a pretty good time to create a high demand of xmg then to create a high supply of magi.
It's what i'm thinking.
If a pool owner want's limitation on how high hash a user can have, it's up to them. It's not for the team or community to decide, if community disagrees with a pool, they can always mine on another pool
Don't think Magi team will ever disallow private pools (read non-authorized) nor solo-mining (which is basically the same as private pool).
But you are right about it's all about giving out right information on how the mechanism work so all can profit from mining and keep the block reward at a peak level. And yes, if high
Every thing has two sides, and here's how i think they operate.
When block reward is ~10xmg, they accumulate as much as they can. When they are ready to offload their earnings from mining, they give full power. This will lower block reward but also and more important, it will increase the demand for magi since it's easier to buy then to mine in that case. This in turn causes the price to go up. When they think the price is good enough, they sell and get's back to normal mining.
They can't do that now because of exchanges have their wallets in maintenance mode and not allowing transfer of xmg to exchanges. So now is actually a pretty good time to create a high demand of xmg then to create a high supply of magi.
It's what i'm thinking.
You are absolutely right. I've noticed the same pattern. When the block rewards are around 10-11 XMG per block, the net hash increases drastically (almost doubles) for as long as the high reward blocks are there. And drops drastically again when the block rewards become low.
I believe this is a result of the block rewards not immediately following the current hashrate/difficulty. Block rewards only change after a certain amount of blocks being mined on a high net hashrate.
The issue here is that when the block rewards are high, the difficulty becomes high (due to botnets?) and the chance that we (having around 100-200 KH/s hash rate) almost have no chance to actually mine blocks as the found blocks in our pool are nihil compared to the total blocks found.
Those botnets are somehow able to influence the request/demand cycle which is not so good ...
Anyways, just my two cents.
That's their plan.
When you decide to invest in magi, you have two options. Buy or mine. If you think you can't get anything from mining, you buy. And with that the price goes up.
So then you are actually following their plan.
...
If a pool owner want's limitation on how high hash a user can have, it's up to them. It's not for the team or community to decide, if community disagrees with a pool, they can always mine on another pool
Don't think Magi team will ever disallow private pools (read non-authorized) nor solo-mining (which is basically the same as private pool).
But you are right about it's all about giving out right information on how the mechanism work so all can profit from mining and keep the block reward at a peak level. And yes, if high
Every thing has two sides, and here's how i think they operate.
When block reward is ~10xmg, they accumulate as much as they can. When they are ready to offload their earnings from mining, they give full power. This will lower block reward but also and more important, it will increase the demand for magi since it's easier to buy then to mine in that case. This in turn causes the price to go up. When they think the price is good enough, they sell and get's back to normal mining.
They can't do that now because of exchanges have their wallets in maintenance mode and not allowing transfer of xmg to exchanges. So now is actually a pretty good time to create a high demand of xmg then to create a high supply of magi.
It's what i'm thinking.
If a pool owner want's limitation on how high hash a user can have, it's up to them. It's not for the team or community to decide, if community disagrees with a pool, they can always mine on another pool
Don't think Magi team will ever disallow private pools (read non-authorized) nor solo-mining (which is basically the same as private pool).
But you are right about it's all about giving out right information on how the mechanism work so all can profit from mining and keep the block reward at a peak level. And yes, if high
Every thing has two sides, and here's how i think they operate.
When block reward is ~10xmg, they accumulate as much as they can. When they are ready to offload their earnings from mining, they give full power. This will lower block reward but also and more important, it will increase the demand for magi since it's easier to buy then to mine in that case. This in turn causes the price to go up. When they think the price is good enough, they sell and get's back to normal mining.
They can't do that now because of exchanges have their wallets in maintenance mode and not allowing transfer of xmg to exchanges. So now is actually a pretty good time to create a high demand of xmg then to create a high supply of magi.
It's what i'm thinking.
You are absolutely right. I've noticed the same pattern. When the block rewards are around 10-11 XMG per block, the net hash increases drastically (almost doubles) for as long as the high reward blocks are there. And drops drastically again when the block rewards become low.
I believe this is a result of the block rewards not immediately following the current hashrate/difficulty. Block rewards only change after a certain amount of blocks being mined on a high net hashrate.
The issue here is that when the block rewards are high, the difficulty becomes high (due to botnets?) and the chance that we (having around 100-200 KH/s hash rate) almost have no chance to actually mine blocks as the found blocks in our pool are nihil compared to the total blocks found.
Those botnets are somehow able to influence the request/demand cycle which is not so good ...
Anyways, just my two cents.
3)
We have decided to have a restriction with maximum 300KH/s per user on our pool. This is to ensure that there is a much more fair coin sharing in our pool when the pool find a block. We would like to avoid that some with huge hash take "everything". Therefore with a limit it will give much more fair sharing of the mined coins in our pool. We don't do this for fun. Not either acting as god. But as simple as to give a fair coin distribution between pool members. And at the same time give a help to the global hash to be more at normal level. Remember that very high hash gives low payback.
Do you really think miners with Mh's cann't create their own private pool without limitation or even solo mining? As I previously said, all these movings return us to McCartyism. After migrating to private pools you ask devs to ban 'non-authorized' pools, ban solo mining, limit blocks per minute. Finally you ask for ID card. War is Peace, Freedom is Slavery, and Ignorance is Strength (c)We have decided to have a restriction with maximum 300KH/s per user on our pool. This is to ensure that there is a much more fair coin sharing in our pool when the pool find a block. We would like to avoid that some with huge hash take "everything". Therefore with a limit it will give much more fair sharing of the mined coins in our pool. We don't do this for fun. Not either acting as god. But as simple as to give a fair coin distribution between pool members. And at the same time give a help to the global hash to be more at normal level. Remember that very high hash gives low payback.
Magi already have mechanism to regulate network hashrate. Nobody wants to lose money. If your hashrate is too big - you lose money. Policy "squeeze out" big miners from the pools, depriving themselves of the opportunity to communicate. You cannt ask people do not mine, you can only tell them about non-linear reward per hashrate, so they can reconfigure mining hardware to mine Magi at 50% of power and have no lose.
You ruins Magi with your own hands.
If a pool owner want's limitation on how high hash a user can have, it's up to them. It's not for the team or community to decide, if community disagrees with a pool, they can always mine on another pool
Don't think Magi team will ever disallow private pools (read non-authorized) nor solo-mining (which is basically the same as private pool).
But you are right about it's all about giving out right information on how the mechanism work so all can profit from mining and keep the block reward at a peak level. And yes, if high
Every thing has two sides, and here's how i think they operate.
When block reward is ~10xmg, they accumulate as much as they can. When they are ready to offload their earnings from mining, they give full power. This will lower block reward but also and more important, it will increase the demand for magi since it's easier to buy then to mine in that case. This in turn causes the price to go up. When they think the price is good enough, they sell and get's back to normal mining.
They can't do that now because of exchanges have their wallets in maintenance mode and not allowing transfer of xmg to exchanges. So now is actually a pretty good time to create a high demand of xmg then to create a high supply of magi.
It's what i'm thinking.
Magi already have mechanism to regulate network hashrate. Nobody wants to lose money. If your hashrate is too big - you lose money.
You ruins Magi with your own hands.
You ruins Magi with your own hands.
You must read better.
It's a pool decision, not a Magi team decision.
3)
We have decided to have a restriction with maximum 300KH/s per user on our pool. This is to ensure that there is a much more fair coin sharing in our pool when the pool find a block. We would like to avoid that some with huge hash take "everything". Therefore with a limit it will give much more fair sharing of the mined coins in our pool. We don't do this for fun. Not either acting as god. But as simple as to give a fair coin distribution between pool members. And at the same time give a help to the global hash to be more at normal level. Remember that very high hash gives low payback.
Do you really think miners with Mh's cann't create their own private pool without limitation or even solo mining? As I previously said, all these movings return us to McCartyism. After migrating to private pools you ask devs to ban 'non-authorized' pools, ban solo mining, limit blocks per minute. Finally you ask for ID card. War is Peace, Freedom is Slavery, and Ignorance is Strength (c)We have decided to have a restriction with maximum 300KH/s per user on our pool. This is to ensure that there is a much more fair coin sharing in our pool when the pool find a block. We would like to avoid that some with huge hash take "everything". Therefore with a limit it will give much more fair sharing of the mined coins in our pool. We don't do this for fun. Not either acting as god. But as simple as to give a fair coin distribution between pool members. And at the same time give a help to the global hash to be more at normal level. Remember that very high hash gives low payback.
Magi already have mechanism to regulate network hashrate. Nobody wants to lose money. If your hashrate is too big - you lose money. Policy "squeeze out" big miners from the pools, depriving themselves of the opportunity to communicate. You cannt ask people do not mine, you can only tell them about non-linear reward per hashrate, so they can reconfigure mining hardware to mine Magi at 50% of power and have no lose.
You ruins Magi with your own hands.
Where does the exchange of XMG / BTC work?
At this moment exchanges have there wallets on maintenance. Will be soon i hope. Hello,
First of all thanks to the Magi team for trying its best at fixing all the problems, glad to see Magi getting back on track.
Second, is there anything special I need to do in order to stake? Whenever I try to stake I get the message "Not staking" instead of the usual "not enough weight".
I am on the latest wallet version and have synced the blockchain correctly.
I haven't sent my coins to another address in a long time because of all the issues, but is it safe to do so right now and will that solve the problem?
Thanks in advance!
First of all thanks to the Magi team for trying its best at fixing all the problems, glad to see Magi getting back on track.
Second, is there anything special I need to do in order to stake? Whenever I try to stake I get the message "Not staking" instead of the usual "not enough weight".
I am on the latest wallet version and have synced the blockchain correctly.
I haven't sent my coins to another address in a long time because of all the issues, but is it safe to do so right now and will that solve the problem?
Thanks in advance!
You probably need to add
posii=1
to you magi.conf file.
I believe the default has changed to 0 (no staking) in a recent wallet version.
That's correct
To enable stake in current wallet version you need to add this in magi.conf
Code:
posii=1
Hello,
First of all thanks to the Magi team for trying its best at fixing all the problems, glad to see Magi getting back on track.
Second, is there anything special I need to do in order to stake? Whenever I try to stake I get the message "Not staking" instead of the usual "not enough weight".
I am on the latest wallet version and have synced the blockchain correctly.
I haven't sent my coins to another address in a long time because of all the issues, but is it safe to do so right now and will that solve the problem?
Thanks in advance!
First of all thanks to the Magi team for trying its best at fixing all the problems, glad to see Magi getting back on track.
Second, is there anything special I need to do in order to stake? Whenever I try to stake I get the message "Not staking" instead of the usual "not enough weight".
I am on the latest wallet version and have synced the blockchain correctly.
I haven't sent my coins to another address in a long time because of all the issues, but is it safe to do so right now and will that solve the problem?
Thanks in advance!
You probably need to add
posii=1
to you magi.conf file.
I believe the default has changed to 0 (no staking) in a recent wallet version.
Where does the exchange of XMG / BTC work?
Hello,
First of all thanks to the Magi team for trying its best at fixing all the problems, glad to see Magi getting back on track.
Second, is there anything special I need to do in order to stake? Whenever I try to stake I get the message "Not staking" instead of the usual "not enough weight".
I am on the latest wallet version and have synced the blockchain correctly.
I haven't sent my coins to another address in a long time because of all the issues, but is it safe to do so right now and will that solve the problem?
Thanks in advance!
First of all thanks to the Magi team for trying its best at fixing all the problems, glad to see Magi getting back on track.
Second, is there anything special I need to do in order to stake? Whenever I try to stake I get the message "Not staking" instead of the usual "not enough weight".
I am on the latest wallet version and have synced the blockchain correctly.
I haven't sent my coins to another address in a long time because of all the issues, but is it safe to do so right now and will that solve the problem?
Thanks in advance!
@Pool42: Please keep a check on hash rate. Smart miners gradually taking a leap. 300+
We usually check the rates on the website.
However the hasrate reported by the pool is just approximative, this means sometimes the website will give results lower than what your miner reports to you, and sometimes the website will report it higher than what your tool reports to you.
We apply a 5/10 % inaccuracy tolerance. I am currently doing a bit of reckon in the code to do some automatic abuse blocker.
Wow! That would be awesome!!!
Thanks for the prompt response.
Wow, Magi is getting more and more popular every day!
Almost 1000 miners active, not many altcoins with this age have that many miners.
Bittrex exchange never traded so much XMG before, even with the deposits/withdraw closed.
Almost 1000 miners active, not many altcoins with this age have that many miners.
Bittrex exchange never traded so much XMG before, even with the deposits/withdraw closed.
This is a respond to everyone regarding the TrasMaMod XMG pool.
3)
We have decided to have a restriction with maximum 300KH/s per user on our pool. This is to ensure that there is a much more fair coin sharing in our pool when the pool find a block. We would like to avoid that some with huge hash take "everything". Therefore with a limit it will give much more fair sharing of the mined coins in our pool. We don't do this for fun. Not either acting as god. But as simple as to give a fair coin distribution between pool members. And at the same time give a help to the global hash to be more at normal level. Remember that very high hash gives low payback.
3)
We have decided to have a restriction with maximum 300KH/s per user on our pool. This is to ensure that there is a much more fair coin sharing in our pool when the pool find a block. We would like to avoid that some with huge hash take "everything". Therefore with a limit it will give much more fair sharing of the mined coins in our pool. We don't do this for fun. Not either acting as god. But as simple as to give a fair coin distribution between pool members. And at the same time give a help to the global hash to be more at normal level. Remember that very high hash gives low payback.
Just wondering, is there anyone whom made PHP script to automatic monitor hashes per user and send automatic warnings? Would be nice to implement in MPOS to have it run automatic. At least it will save some time sending emails to users with more that?
FYI, changed my NOMP pool to PHP-MPOS also, it's been tested and running ok.
Spreading hashes over more pools would be better for chain.
http://h2168287.stratoserver.net
Edward
Pool has been added to https://poolinfo.systms.org/#pools
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