I also think its a little more than 0.09 - look at the order book- this is the most important factor. (What coin buy/sells went for) Everyone is on a consensus basis that buy orders are not to be sold onto, the coin is just getting started... with huge activity prior to launch and until now 4 days after the launch, and it will continue.

I've been watching this thread coin team pool etc..

All things are properly in place to appear like when 'Darkcoin' first launched. What are they on now? page 3,000  8 months later?

This is on a similar pace as the other successful new coins with innovative algos. just saying.

Yes this is not fake. I am getting better results on the pools.

We do need to spread the hash power though, where are you mining?

I think nonce pool needs some support.  I got about 10 coins (24 hours) on SuprNova pool. Might try Nonce soon.

Thanks for handling the marketing... I am already inclined to help grow as I have setup a network of ads from friends in my network who can advertise heavily throughout the industry. It isn't in full course advertising yet, however, it is dependent on this community working together.

Twitter, reddit, facebook, and external sites that get traffic, should help the growth of magi, not only via bitcointalk, but we must bring in more.

I would like to see 100,000 views in this thread before the end of the month. I think its realistic.  Yes, Windows and Linux. I also have someone looking at a MAC compilation for this coin.

I think if we can setup proper marketing structures, bringing in traffic will help with the growth of the exchange rate.
Investors love coins with solid communities like this... and they are more inclined to help provide liquidity.

I was trying out solo mining and i wasn't getting much results by having about 15 Kh/s then I also went into some VPS servers as stated in the guide here on the thread, but I decided to try out pool mining just less than 24 hours ago on suprnova and I am now about 10+ XMG

I don't see how its not fair, seems to be doing fine. If I launch more VPS nodes, I am sure I can do more.

I plan to also mine with like 2-3 other laptops/computers laying around as any hashing tends to help. It seems like Pool mining is the way to go.

aloney, I agree with you
, and this is completely reasonable

While we are talking about this initial coin distribution stage, I have been thinking of any I can do as to decentralization (well it quite depends). That's the reason I decided the mode of block rewards-difficulty dependence.

Simply the following situation is what I want to see (numbers are just example):

quite good
acceptable
and try to avoid


I will post the idea behind the block reward. You guys judge that. I don't want give impression I hate high hash.

This catches my eye. Simply take a look my posts with some analysis (give me sometime to prepare), and comment if that would be mining involvement. I like this anyway.

@joelao95
How you define "mining involvement"?

Well what I was trying to suggest was that in a theoretical "fair for everyone scenario" participation should be rewarded rather than the payout being based on the ability to generate the largest hash rate (though greater wealth or other means such as botnet).

By "mining involvement" perhaps the act of being connected to the XMG network and mining to a low minimum standard enables more people to gain reward, after all, the excess hashing power people are attempting to achieve in order to get more coins is effectively 'wasted energy'.   
If there was a way to reward a minimum standard of mining e.g. 5kh+ hashespersec, and there would be little extra reward in generating 100kh+ hashespersec then I suggest it would avoid an 'excess' distribution to those who can afford/bot the extremely high hashrates.
In theory this would then leave the coin more in the hands of the community rather than the pump-n-dumpers who just mine to take a quick profit ?

Anyway this is just my speculation I will be very interested to see what Joe's idea is  :-)

Joe, I have been doing some further testing and I now concur with you that the value for netmhashps seems to be accurate.  The networkkhashps is not.

Based on that, and using an Amazon AWS 8-core instance at ~62 khash/s as a reference, this equates to approximately 12500 cores running on the network.  It's likely that the top few miners on suprnova are using AWS instances, between 100-250 instances to give 6-15 MH.  Assuming they are using spot rates of 0.065c per hour, and with a return of approx 500 XMG MH day (3000 coins a day for 6MH) ,and a BTC price of $420, the break-even selling price would be approximately 0.00012 XMG/BTC.

With buys on cryptoine significantly below this, and with little volume anyway, this is not even close to being profitable to mine with rented hardware.  This is a positive thing in some respects, but as soon as these miners realise this and drop out, difficulty will drop significantly and so will rewards.  The coin distribution rate overall should not be affected as the diff/reward ratio is linear, but this reinforces my point that I posted yesterday that the diff/reward ratio is too low to support the desired mint rate.  You're not going to get to 500/block because diff wont rise enough because not enough miners will join the network using VPS's as it is not profitable

Anyway, thought you would want some further feedback.