Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 735. (Read 2375995 times)

Just a quick poll : on which pool are you mining ? As for me it's SuchPool, because since we've a lot less miner than Suprnova, when we find a block, it's very lucrative. LordCoder I know that you are mining on SuchPool !

Thanks for the info. It's always good to expend the Magi exchange market. Do you have contacts there?

Hello TonySon welcome back!
Some nice news here:
https://bitcointalk.org/index.php?topic=393147.6360

Magi passed spreadcoin and is now really on the 4th spot! Well done community. Hope directbet notice this also!

Ok thanks. Will work on this!

Check suprnova pool info:
https://xmg.suprnova.cc/index.php?page=statistics&action=pool

That's frustrating, it was nice to earn a few magi over the last couple of days... I've reduced back my hashrate.

LordCoder thanks for the info.
Pls add more current info so Magi team can check it out and contact the pool. If hè is pool-mining.
I don't see it in the total hashrate yet!

It was nice for a couple days at least, now it's time to slow down our miners again.

yay again cc90cc attacking the network. Let's give him some power.

Info on the first page states:
Proof of Staking II (PoW-II)
Security enhanced - Variable coin age depending on the staking time (more..)
Minimum coin age - 2 hours
Interest rate - network weight dependent with maximum 5%;
Block time - 1.5 minutes
Block hash - SHA256
Maturity: 120

But, from what I've noticed, POS in Magi does not behave the same as other coins where you know exactly the minimum and maximum weights.  I believe it's all interacting with total weight, difficulty, block size and time.  There are other more knowledgeable people on this subject but I can tell you what seems to work in my wallet.

Roughly a single block of 500 - 1000 coins will stake within 24 hours.
A single block of 1500 - 2500 will stake in about 20 hours.
A single block of 3000 coins will stake in about 15 hours.
Blocks with more than 3000 seem to have a time frame that if they don't stake in the first day, they begin to lose weight, and by the 5th day they need to be re-sent via coin control to reset the timers.  I think 5 days is the cutoff you are asking about.

So I got into the habit of using coin control daily and keep all blocks at around 1500 - 2000 coins - the entire wallet stakes once a day when I do this.

If you do not want to use coin control, then the blocks will be smaller and the times will be longer, and I do not know if the 5 day max age applies with smaller amounts.

what's the max age and maturity in the pos of magi

 
https://www.facebook.com/CoinMagi

Hi 111magic!

I will buy CoinMagi. Because Magi (XMG) the unique coin of the future keeps on growing!  

What do you think about try add XMG to EMPOEX.COM?

is there any IRC channel for magi ?

edit:i found sorry

Thank you very much Redrover! This is what I mean!
Maybe thdim would add this info on his Magi blog.

Good day everyone.

Coin Magi (XMG) first time Wallet installation for Windows, (just the basics here).

Note: I am not an expert, I just wrote down the procedures that I use.  Will some of the pro users out there mind proof reading this and let me know of any errors that need to be corrected or repost with corrections (thanks).  This is meant to be a very simple guide to help new users setup a wallet and get started, thanks!

Download the Windows wallet from: http://coinmagi.org/files/magi-release/m-wallet-latest-win.zip

Extract this file to where you want the wallet program folder on your computer.
Open the extracted folder and navigate to either "32" or "64" depending on your system - most current computers today will be "64" but if in doubt, you can always choose "32" and it will work.  From this folder, double click magi-qt.exe, this will launch the wallet and begin downloading the blockchain - be patient, it is a large download and could take a few hours to complete.  If it gets stuck, you can close the wallet and launch it again.  Also note, just launching the wallet can take a few minutes to actually open, this is normal, be patient Padawan.  

FYI - the downloaded files (blockchain and the wallet.dat) by default will be in -  Users \ *username* \ AppData \ Roaming \ Magi

Basic operations in the wallet

Overview - Exactly that, an overview of your balance and transactions.
Send coins - This is where you send coins from your wallet to another address.
Receive coins - List of your addresses, click new address to create a new address in your wallet, do this now if there is no address listed.  This will be your first Coin Magi address, you might want to copy and paste it in a text file somewhere so it’s handy.
Transactions - A list of all your transactions.

Backup your wallet!  (Very Important to do this NOW)
Click File - Backup wallet  -  Now give it a name and choose where you want your backup, this will initially be a very small file but will grow over time.  The default name is wallet.dat but I would recommend a more descriptive name such as magiwallet.dat.  Now - copy this file to a safe location just in case your computer melts down, something like a thumb drive.  Guard this drive and file, it is your wallet and could be very valuable, and at the moment is not encrypted.  edit... if you will be encrypting your wallet, then do the backup after you do the encryption.

Encrypt your wallet - this is optional but recommended in case of a hack or theft, remember, your wallet and coins are valuable.
Click Settings  -  Encrypt wallet  -  choose a passphrase and don't forget it.  You will use this password to unlock your wallet.  edit... If you choose to use encryption, then make your backup after encrypting, not before.  Also whenever you create a new address in your wallet, it's a good idea to make a new backup.

Ok that's the basics, now a new version comes out, how do you safely upgrade?

Upgrade Coin Magi Wallet to a new version:

First, technically this is not an upgrade procedure, it’s more like just downloading a newer wallet version and using it instead of the one you currently have, very easy.  The new version will utilize all of the data previously downloaded and will automatically use your existing wallet.dat file as well.

1. Backup your wallet again, just in case something goes wrong, same as above but what I do is give it another name like magiwallet2.dat  -  you can never have too many backups and this can be used to recover in the rare event that a wallet upgrade goes bad.

2. Make sure the wallet is closed.

3. Download the new wallet, extract the files, and run the new version of magi-qt.exe.  That’s all there is to it, easy peasy.

I personally do not delete the old version for at least a day just in case a bug appears, but so far, this has not been an issue with Coin Magi.  Hope this helps out a few new users who are worried about it being complicated – it’s really not very difficult.

Last step, join #magi in IRC for the rains (free coins) and then you can send them to your shiny new wallet.

edits: (thanks feldenthorne)
Do backups AFTER encryption and after creating new addresses.
Keep wallet open and unlocked for staking to earn interest.
Newer wallets will have an update reminder notification - so it's an alert to get the newest version, this is being implemented now.

the reward is pretty good right now 33xmg 

Coming soon