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Author Topic: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU 1st POI  (Read 65024 times)

111magic

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Just received message that gorilla.exchange is down for security reasons! Hope to receive more info what will happen or happend with the XMG there!
Btw I agree with the Frisian. If you like to purchase some XMG this might be the best moment! Or set buy-orders.

Received message that gorilla.exchange is closed!
Received no answer what will happen or happend with my balance there.
https://www.m-core.org
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XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8

111magic

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Hi, sir
im newbie about e magi coin(XMG). how can i convert XMG to BTC or USD? i hope that you can help me..

You can use for example Bittrex exchange, Poloniex exchange or Bleutrade exchange.
https://bittrex.com/Market/?MarketName=BTC-XMG

https://poloniex.com/exchange#btc_xmg

https://bleutrade.com/exchange/XMG/BTC

Or Cryptopia!
https://www.cryptopia.co.nz/Home?


https://www.m-core.org
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XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8

111magic

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Is the [Coin-age] = [blocksize] * [age] ?  Well i don't know too much about coding, but could you add a line like:  IF [PoS-block-reward] < 0.1 AND [Coin-age] < 200 THEN [PoS-block-reward]=[PoS-block-reward]*4

This might not be exactly right, but if a 100 XMG block stakes in under two days it would get a higher reward.

Increasing the block reward for small blocks will definitely encourage big holders to divide their coins into small pieces.  I think that this will be a good thing for the long term.  Suppose someone has 10,000 XMG and divide it into 100 XMG blocks to maximize stake earnings.  They find a PoS block and get a 0.1 XMG reward, instead of the 0.025 XMG reward that they would currently get.  The amount of their total coins that staked is 1%.  After the PoS block matures, to go on and sell their total balance of 10,000.1 they would have to spend the weight of the 99% of their coins that have not yet staked.  The extra 0.075 XMG reward from the single block is actually less of a total reward then what would be earned if all 10,000 XMG staked all at once at the lower rate.  I think that smaller blocks getting a higher reward will therefore discourage dumping, because it creates an opportunity cost of lost PoS reward for selling coins with a higher coin-age.
fragilefungi, I guess there are some points deserving in-depth consideration, sorry for delayed response. The idea of rewarding small stakers is very much appealing and coincident with magi's goal, while the barrier to overcome is how we avoid big stakers. I believed this is already done in PoS-II, as people stake with 10,000 XMG won't get benefits compared to staking with 1000 XMG. This is mostly considered from security point of view.

Speaking of the present focus, the stake shares, "Increasing the block reward for small blocks will definitely encourage big holders to divide their coins into small pieces", that actually means we aren't benefiting small stakers. One can launch 100 wallets with 100 XMG in each, and he can only make transactions within a few wallets without affecting the rest of others, so the affected wallets regarding PoS staking are actually not throughout, but just a few. So the big staker is still benefitting, point me out if I missed the point in your post.

 "IF [PoS-block-reward] < 0.1 AND [Coin-age] < 200 THEN [PoS-block-reward]=[PoS-block-reward]*4" is doable and would be interesting; however, we may need some careful thinkings to plugin some tricks -- extra efforts, that small stakering are willing to take. I can't talk this approach clearly as I don't have clear idea yet, but I guess it won't be straightforward to embed the above your mentioned equation into the code, or the big stakes will be getting the same benefits. But that seems something interesting I have to take a deep thinking along that.

[Coin-age] = [number of coins] x [effective stake days], [effective stake days] is a function of actual stake days and number of coins in PoS-II. [Coin-age] is maximized at certain conditions with a middle size of coins in stake, and stake for a few days less than a week. So the current scheme is actually encouraging small stakers. In other words, people won't be able to get significant high stakes in any cases unlike the conventional PoS, that's the fair point. And of course, your equation is doable, but I have to give it a more serious thinking. My primary concern is that we have to be careful about increasing interest that leads to benefits throughout (it would be very much appealing if benefiting small stakers ONLY). Also I deeply believe that when we increase interest, people would be willing to accumulation more than selling. However, I guess there are some basic lines to hold, and making people commit into accumulating rather than selling because of a desire to stake for more coins is a less solid reason.

Lots of posts about the coming improvements!! :D
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111magic

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For our new members who would like to add our Magi sig here is the code:

Code: [Select]
[center][b][url=https://bitcointalk.org/index.php?topic=735170.0/][color=blue][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique block reward | Coin Source: Trust Verified [ ★ ★ ★ ★ ★ ★ ★ ][/color]
[color=orange]Proud to be a member of the[/color] [color=black]Coin of the Magi XMG[/color] [color=orange]community. Come and join us![/color][/url]
[color=black]XMG:  Your own walletaddress [/color][/b][/center]

been wanting to have a sig better than just my addy , thanks for saving me time  ;D

You are welcome!  ;)


---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Sweet Spot Magi Miner - Unleash the IDLE Power
http://xmg.makejar.com/
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111magic

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Awesome news: Magi app is in development.
Release October 2015!


« Last Edit: August 19, 2015, 12:06:34 AM by 111magic »
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111magic

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Proof of Interest II 2015



Info website in Beta.
http://magi.ddltv.info/beta/poiinfo.php
All other pages don't work yet
Test please!
If you joined the Proof of Interest II campaign fill in your wallet address and check your balance.
https://www.m-core.org
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111magic

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Magi has  new/extra addnode:

192.198.88.226

 ;D
« Last Edit: August 24, 2015, 09:23:40 PM by 111magic »
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111magic

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Check out the new Magi contest/ giveaway here:
http://bitcoingarden.tk/forum/index.php?topic=4487.msg96389#msg96389

Think you have Magical graphic skills? Show it to Magi!
 ;)
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111magic

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Talking about new faucet!
Received this one today.

https://twitter.com/multifreecrypto/status/635618932527902720

http://www.free-crypto.com/
http://www.free-crypto.com/register/

So another Magi faucet is born! :)

Special thanks to multifreecrypto!
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111magic

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http://cointopay.com use XMG to buy different merchants there.
other nice link is www.litebit.eu
Buy or sell your Magi (XMG) with different payment options!
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111magic

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https://www.m-core.org
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