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Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 565. (Read 2376034 times)

legendary
Activity: 1484
Merit: 1029
Some whale came into Poloniex and posted a 28 BTC buy wall this afternoon. I think this is what finally pushed the price up. Time will tell if this is a legitimate buy wall or not..
If he/she withdraws that wall, get ready for a roller coaster ride lol

28 BTC? Where?
Or is this wall gone already?


It's probably a day trader - they usually take their wall away (and close their orders) at the end of the day, could be back again today if they are starting a Magi campaign.
legendary
Activity: 1019
Merit: 1003
Senior Developer and founder of ViMeAv ICT
Some whale came into Poloniex and posted a 28 BTC buy wall this afternoon. I think this is what finally pushed the price up. Time will tell if this is a legitimate buy wall or not..
If he/she withdraws that wall, get ready for a roller coaster ride lol

28 BTC? Where?
Or is this wall gone already?
newbie
Activity: 58
Merit: 0
Some whale came into Poloniex and posted a 28 BTC buy wall this afternoon. I think this is what finally pushed the price up. Time will tell if this is a legitimate buy wall or not..
If he/she withdraws that wall, get ready for a roller coaster ride lol
legendary
Activity: 1750
Merit: 1005
There has been some good movement in the Magi price this afternoon - market cap (averaged over a few hours) is approaching its ATH, value is currently $250k, another good (and promising) milestone if it stays there for a while. There is a lot of wild fluctuation on the alt coin markets this week so I'm not getting too excited yet.
Yes indeed its very nice to see. Hope it will be an upward trend!
legendary
Activity: 1484
Merit: 1029
There has been some good movement in the Magi price this afternoon - market cap (averaged over a few hours) is approaching its ATH, value is currently $250k, another good (and promising) milestone if it stays there for a while. There is a lot of wild fluctuation on the alt coin markets this week so I'm not getting too excited yet.
legendary
Activity: 1484
Merit: 1029
im fully aware of how pos works and the coins, this coin staking system is just not very good in my eyes thats all i am saying. good luck tho guys was friendly place atleast
Sorry to hear that Magi didn't work out for you - I think one of the unique characteristics about magi is that they are pretty difficult to acquire in a large quantity, I think that's one of the reasons behind the slow and steady growth. It's not being pumped so often as its pretty difficult to generate many coins quickly (this also stops the coin from being inflationary) - but its growing due to the USP's, I'm much happier with slow and steady.

Maybe some of the changes that Joe is planning to add to the wallet will make staking easier in the future. I hope we see you back here again one day

Cheers
legendary
Activity: 1190
Merit: 1009
Coin of the Magi!
This is only part of the things we're doing I'd say, and I know where we're heading. All were being designed according to what's supposed to be -- a purpose, and the things hence worked out as such. Of course, we shouldn't talk merely all just the basic coin things, instead we're keen to some more horizons I'd like to be going. Stay tuned..
legendary
Activity: 1750
Merit: 1005
im fully aware of how pos works and the coins, this coin staking system is just not very good in my eyes thats all i am saying. good luck tho guys was friendly place atleast
Thanks Crazy. We always stay friendly. Good luck.
legendary
Activity: 1470
Merit: 1010
Join The Blockchain Revolution In Logistics
legendary
Activity: 1190
Merit: 1009
Coin of the Magi!
the more coins you stake the bigger the rewards, sure if by default u can only stake 10k at a time in a wallet , who wants to run 30 wallets. People dont want to have to optimize and change paramaters manually. i should be able to download the wallet and stake my stash and reap rewards. the staking is more centralized here by the few who have messed with paramaters or devs that can optimize their rewards. good luck to this coin but this is not a long term for me

I can't argue more, bud. There are info around one can easily pick up. If you don't think this PoS meant something, we're fine too. There are really things you misunderstood; 10k at a time staking in a wallet is a very wrong understanding. I believe a more general staking will serve your purpose which can be found from a coin list. Good luck!
legendary
Activity: 1750
Merit: 1005
Think time will tell. I know Joe is working on different improvements for Magi. Step by step things will be better.
I also think that Magi has raised in value & might raise more in the future. This year Magi will be 3 years old.
I'am with Magi from the beginning & noticed all ups and downs during this period. Magi won the most Friendliest Community  award and think that we all are very proud that we could share our opinions here. Thats something what will make Magi stronger. Learning from eachother and working on the future of Magi. Let's continue! Smiley


Great words (as usual 111magic), lets hops we can build on where we are - the coin is currently on an up trend, lets see if it moves to the next level this year.
Thanks Starmman! Yes the next level will be a goal!
legendary
Activity: 1484
Merit: 1029
Think time will tell. I know Joe is working on different improvements for Magi. Step by step things will be better.
I also think that Magi has raised in value & might raise more in the future. This year Magi will be 3 years old.
I'am with Magi from the beginning & noticed all ups and downs during this period. Magi won the most Friendliest Community  award and think that we all are very proud that we could share our opinions here. Thats something what will make Magi stronger. Learning from eachother and working on the future of Magi. Let's continue! Smiley


Great words (as usual 111magic), lets hops we can build on where we are - the coin is currently on an up trend, lets see if it moves to the next level this year.
legendary
Activity: 1484
Merit: 1029
its pretty simple in my eyes. staking secures the network. if staking is not profitable or the incentive is too small,    im not staking. if many think this way and i know they do since i have had this convo many times . this is a big disadvantage for ur coin. this is the vision of the dev and i reapect that but i have a hard time wrapping my head around it. not the way to succeed imo.

Are you using the split and combine parameters in your magi.conf? That usually helps maximise staking rewards - plus the odd bit of coin control to catch the coins that are past 10k-15k confirmations and push them back into 'the optimal staking zone'

Quote
# Transaction under stake with a value greater than the threshold is being splitted
stakesplitthreshold=500

# Transactions with values less than the threshold will combine into one
stakecombinethreshold=250
legendary
Activity: 1750
Merit: 1005
Think time will tell. I know Joe is working on different improvements for Magi. Step by step things will be better.
I also think that Magi has raised in value & might raise more in the future. This year Magi will be 3 years old.
I'am with Magi from the beginning & noticed all ups and downs during this period. Magi won the most Friendliest Community  award and think that we all are very proud that we could share our opinions here. Thats something what will make Magi stronger. Learning from eachother and working on the future of Magi. Let's continue! Smiley
legendary
Activity: 1019
Merit: 1003
Senior Developer and founder of ViMeAv ICT
its pretty simple in my eyes. staking secures the network. if staking is not profitable or the incentive is too small,    im not staking. if many think this way and i know they do since i have had this convo many times . this is a big disadvantage for ur coin. this is the vision of the dev and i reapect that but i have a hard time wrapping my head around it. not the way to succeed imo.

The staking reward is around 3-4%, what's the problem with this?
If you have 10K XMG you earn around 1 XMG coin a day by staking.
sr. member
Activity: 876
Merit: 291
my biggest issue with this coin is a few stakers seem to have configured to mazimize rewards while the avg holder wit some big coins cannot reap stake rewards
i originally bought this cointo hold n stake longterm but it seems pretty crazy if u have 300k 400k n cnt get a reward, so while i dnt make it a habit of atoring large amount coins on polo seems not logical keep in wallet tht reaps no benefits

I'm also a big holder, and I bought this coin because of this feature. I stopped staking for long, it's not profitable for me. In a human world small entities have an advantage against big entities (at least no disadvantage). We could discuss, if the disadvantage for big holders is too large. The feature is for promoting decentralisation, and this goal is welcome in my eyes, and so I stay invested.
legendary
Activity: 1484
Merit: 1029
Not sure if you guys have been following this - The Bitcoin ETF decision was rejected hence the 15% drop in BTC/USD overnight.
Hmm are they not ready for it? They are waiting for Magi! Grin
Haha, I think that you are right there - they must be =)

There seemed to be quite a bit of market swings overnight - all seems to have calmed down a little today
legendary
Activity: 1190
Merit: 1009
Coin of the Magi!
i originally bought this cointo hold n stake longterm but it seems pretty crazy if u have 300k 400k n cnt get a reward, so while i dnt make it a habit of atoring large amount coins on polo seems not logical keep in wallet tht reaps no benefits

Well, I'd believe most did stakesplitthreshold and stakecombinethreshold for optimum staking that isn't difficult at all. Personally I got a wallet running and staking 24/7. I recommend you try this (example for simplicity only though it's not necessary exactly the way I'm saying):

1) Get a fresh wallet, and a fresh address
2) Send an amount say 10,000Σ to the fresh address
3) Lock the wallet with a password, and unlock to enable staking, just like the way of PoS staking normally
4) Keep the wallet running until you get stakes
5) Repeat 1) ~ 4) for the rest of coins if you have.

Not being able to stake with a number of coins is a misunderstanding.

I did try to figure a way of staking rewards inversely proportional to the total number of coins, while I noticed this may not be likely in the scope of the present principle, and it's not that straightforward we should go with either. It is true, though, that I'm not a fan of simple big rewards by having simple powers. I'm not meaning going the other way around, but keeping the things under limits, that's the way of operation in nature. And I stand for a high-priority point where people contribute to the network get rewards preferentially.
legendary
Activity: 1750
Merit: 1005
Not sure if you guys have been following this - The Bitcoin ETF decision was rejected hence the 15% drop in BTC/USD overnight.
Hmm are they not ready for it? They are waiting for Magi! Grin
legendary
Activity: 1484
Merit: 1029
Not sure if you guys have been following this - The Bitcoin ETF decision was rejected hence the 15% drop in BTC/USD overnight.
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