Bitcoin Forum

What is PoM?

PoM - Proof of Mining; in simple,  the magi team rewards commensurate coins to every participant in this campaign, in accordance with your CPU hashrate invested into mining XMG.

PoM is also a built-in feature of XMG, thanks to the block reward design (see this link (https://bitcointalk.org/index.php?topic=735170.msg9991269#msg9991269) for more information). A detail explanation is shown below:


Why PoM?

The XMG's block reward design has to bring the network hashrate into an equilibrium which would never go a very high or low number. Though the equilibrium state is strongly affected by the coin price, it is anticipated that the total hashrate could stay an appropriate level. This is a good feature to avoid huge waste of electricity consumed in the Bitcoin or other Altcoin's network. However, the weakness lies in the fact that one can gain reasonably high hashrate to dominate over the rest of the network. Although this is undesirable feature, we have taken a strategy, i.e., the PoM campaign, to avoid big-hash miners.

In general, people mine for profits, that means miners leave when they are unsatisfied with mining rewards.  

The PoM campaign encourages the persistence of generic miners by giving away a certain amount of coins to each participant. So one will receive mining reward plus PoM campaign reward. Even mining gets zero reward, one will receive the benefit from this campaign.

To the XMG network, we will have a fixed number of people mining around to compete the big-hash miners. In normal situation, people would quit after mining something without a reasonable ROI. This is primarily the reason of this campaign, and it is anticipated that the generic miners will maximize their shares.

What does "2nd PoM" mean?
The initial PoM (1st) is launched here: https://bitcointalk.org/index.php?topic=802681.0 (https://bitcointalk.org/index.php?topic=802681.0).

Duration
About two months.

Participation & Rules

# http://minerclaim.net/index.php?page=contactform&action= Fill in this contactform and give username you use in the pool.
# You must mine with your CPU and total hashrate not exceeding 250 kh/s.

Pool rule
http://minerclaim.net/index.php (http://minerclaim.net/index.php) is our second official pool (created and managed by Lahlor) designed for PoM; mining hashrate higher than 250 kh/s is not allowed. Warning will be giving to people who put miners exceeding 250 kh/s, followed by account locking and worker removal if hashrate is not depressing upon warning.

Reward
We have a certain amount of pre-set funds available at this time, and intend to get more funds. The funds will be distributed into all of the participants. The following will affect the amount of coins one will receive.
# The number of participants;
# The reward will be proportional to 1) hashrate (up to 250 kh/s) 2) mining duration

(we will make sure the method of how-to-calculate soon)

I just registered and am undermining the new pool, I had registered for the POM on the old pool have to redo the recording? my username is paolo77 in the pool !!

Are the both pools active for the PoM2 :)

Just for all some information:
Magi has now 2 pools for the PoM!!
1st pool from Historical https://pom.m-hash.com/
2nd pool from Lahlor https://xmg.cloud2b.de/
If you are using the 1st pool you don't have to switch.
If you start mining Magi for the first time you can choose with pool you like to join!

Hope all Magi pools would join the maximum hashrate in the future! Better results with the MQW/ unique blockreward system.

will be a pleasure for me to be into this campaign, i loose the opportunity to be into the first one, so now is my turn ;)

btw where are both pools located?

https://pom.m-hash.com/
https://xmg.cloud2b.de/  (this one is at Europe, but where exactly? )

Hi,

xmg.cloud2b.de is located in Frankfurt (Germany)

Sorry but we need the information of Historical or someone else who can say where the second one is located.
Anyway start mining and choose the right pool later on so you don´t loose time ;)

Cheers!

The proceeds are being distributed between 2 months to end of POM right? I understand I'm wrong?

Just registered on the Cloud2b pool too  (username:Sajador) and filled the Form for PoM
Also want to spread some of my Hashrate :D and ofcourse Donating even if its just dust with my kinda Weak cpu (Compared to all the others xD)

Is the Cloud2b pool okay atm  ???  Seems it is stuck somehow or is it just my With Glasses powered view wich fails  ::)

Is the Cloud2b pool okay atm  ???  Seems it is stuck somehow or is it just my With Glasses powered view wich fails  ::)

Share informations and the Earned XMG doesnt seem to update
Was just asking tough,might be caused by my Incredibly slow connection that i got worried
But if there's no problem for you then im calmed down again

 :-*

Hello,
I want to join 2nd POM Campaign. Please add me with following information:
pool: xmg.cloud2b.de
username: jamijn
email: jamijn.hd@gmail.com
Thank you so much!

username: Myst  email: mysteriousdewd@gmail.com

Sweet now I am signed up for two pools that are participating in POM.  My username on both pools is fragilefungi   ;)

I'm just wondering is there a tab in the menu to check on participation progress in the campaign or also is there a way of checking if I was accepted?

Hello Magic , mates , participants.
I wish to get myself into POM2. I pointed power to cloud2be pool.
The user name is the same "go6ooo1212"

Hmm there is some Issue with the pool I see , hope its not serious ?

Hi,

sorry for all circumstances. I am having trouble right. The coin daemon is crashed the second time today. The stratum will return working in some minutes.

cheers
lahlor

THank you , mate , good work :)

Problem solved for the moment, but currently don´t know the source of the issue ???
daemon stopped working and no error message in the logs.

Will investigate further.

Cheers

Hello everyone. in the pool on xmg.cloud2b.de I like zippocz. Since my English is bad, I'll try to ask as follows:
Now that the proposition will be paid in 2 hashrate month using the average for that period? It needs to change the address on xmg.cloud2b.de stratum + tcp: //xmg.miningpool.cc: 3333?
There is still somehow re-register?

Thanks for the answer.  

zippocz
zippo@chabry.cz

Send your address pm to me!
Since what date are you mining?

PM send.


mining goes alright, data is received and benefits, the statistics I see https://xmg.cloud2b.de/index.php?page=statistics&action=pool miners and also to stare at Felling, just do not see anything that I benefited.

You always benefit if you are mining Magi during the Proof of Mining! :)
PM received!

Come see me odd that the last block was found 17.7. https://xmg.miningpool.cc/index.php?page=dashboard

should be fixed now.

Pool is down ?

Thanks for the info.
Lahlor will check it!

Yes it is down. And I am not able to check at the moment. So please switch to any other pool. Your earnings will stay until I have fixed it. I guess in about 10 hours.

Cheers

it stopped working about 10 hours ago.
i saw it live, while i checked hashing rate  ;D

@111magic
how could i know, if i'm part of the 2nd PoMC?
was the message in the other topic enough?

Just a tip: i use miningrigrentals, point my miner towards them, and put the POM pool as preferred pool.
If it goes down, it switches to a failover pool immediately, but keeps on checking the POM pool every 10 minutes. As soon as the POM pool is back up, it switches back  ;D

which pools are officially taking part in the campaign?
only 2 or more?

Problem with cloud2b.de?

Is ok to change to one of the other POM pools without affecting my participation?

My magi wallet crashes every x hours. I dont know why. Logs ok and stops immediatly and magid cashes. Maybe DoS attacks?

That's strange! My wallet works fine!

Windows wallet is fine. i mean the daemon and wallet on linux for the pool. I dont know what is happening. Will do some investigations. So far the pool keeps closed. Payout will work so far.

is suprnova also a campaign-pool?
it is my backup pool if miningpool is down.

ok, then i changed pool to m-hash with user: raetsch
this will be my new mainpool, since miningpool is still down.

Hello @All,

now it seems to be fixed. I appologize for the daily offline time.
Seems to be a RAM issue on my linux host. It should not happen again - hopefully  ???

Cheers

With a  hashrate of 110 Kh/s on a pool someone to get 6 Coin Magi aproximately, I guess that Proof of Mining give a extra reward, So How many Magicoin  can somebody  get to?      And       When 2nd Proof of Mining Campaign end?