I understand this is frustrating while this is the situation we have at this moment, and becomes quite most recently. My looking back the chain turns out a lot of PoW blocks mined right after the fork point pointing to one /few miners own considerable hash to push the chain faster than the rest, and I go the direction that the big miners somehow reported by people might be the cause. I'd see this a dilemma we're facing when we try to maintain the whole network hash up to a limit but few parties can bring in huge hash from whichever channels they can acquire. This is the plan we are thinking of to take on at this moment:
1) Please connect to the chain that 104.128.225.215 and poolinfo.systms.org are on. Shortly, I'll get an updated block data / wallet for downloads.
Edit: You can use the block date from here to catch up http://coinmagi.org/bin/block-chain/
Place connect=104.128.225.215 in magi.conf, or
magid -connect=104.128.225.215
2) We will make changes to the PoW ASAP. I must admit and make such a note upfront here that there is no guarantee that we'll be 100% isolated from hard fork, and there is always a probability unless we grow up to a scale that no one can compete the rest in both PoS and PoW. I recognize a weak point that we keep the network hash to a lower limit to favor low-hash miner, and that is where we're suffering from, while I would remain to stay on this.
Please make suggestions.
I think the problem maybe caused by flash mining by big miners. I've seen this before on another coin. The solution was to hard fork into a proof of stake only coin. Unfortunately this happened after after several months of struggle and the community was so fractured by problems with forks that all of the exchanges and support was lost. The coin did run well with no forks at that point but it is gone now.
My suggestion is to go to a proof of stake only coin with a reasonable coin block cap. Interest rate should be high enough to supply some liquidity with a coin cap to prevent too high an inflation rate in the long term. Once things settle down for a while perhaps we can think of adding PoW back in some better form.
I tend to agree with what Lightsplasher is saying but is there a way to still have both?
What about significantly reducing PoW and significantly increasing PoS to the point that PoS is securing the network?
This would have the benefit of encouraging saving and staking for interest and still nearly everyone with a computer and wallet could continue to participate in magi.
Another plus side to this would be even less energy use with staking compared to cpu mining.
Or... What about PoS on a mobile wallet, is it feasible? If it is, this could become a great asset when combined with MagiPay. Think about it, most everyone has a cell phone now. Wouldn't it be awesome to have the option to be able to do everything 'Magi' with the cell phone and no longer require a pc?
