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.htmlVote 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://bitcointalksearch.org/topic/m.9991269. 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.