XMG is changing M7, so called M7M now; so GPU mining won't work any more (see the title of this thread ).

The new wallet won't be compatible with the old version, so need to delete prior block data to make it work; will include instructions along with the wallet.

Never mind the prior testnet wallets. I am trying to give a new testnet wallet and cpuminer at the same time; working right now, may need to stay up until I get them out. Check back for the news.

Will issue details, stay tuned. 

I am a bit worrying about the west coast of US.  

Hi, changed the launch time, please update and then I will add to the OP.


Edit, 9:00 AM, this will be more comfortable for US, around 4:00 PM in Europe and around 9:00 PM in Asia, won't be too late.

This doesn't mean premine though cause coins are in hands of community.

Also see latest discussion about suppressing coins for swap purpose down to about 1 million, and postpone of the swap, so coins in circulation at the beginning will be primary those freshly mined. Details are to be announced.

I am thinking of changing the launching time to September 13, Saturday, 8:00 AM (EST), that means around 3:00 PM in Europe; how do you think?

I will give sets of command lines, just copy and paste, pretty straightforward; in the meantime I will stay in IRC to address any issues.

will issue the miner today as possible as I can, and instructions will follow too.

ok, let me think about a compromised approach and try to satisfy both parties; stay tuned the plan.

I am supposed to issue the cpu miner today.

Edit, compiling windows version needs further look, so if someone did that before, pls contact me, thx; I will be released from that a lot time.

Thanks for heads up; will take care this advice and will make sure NEW miners are profitable.


I am gonna get back other comments / requests soon later, including reconsidering launch time (some work stuffs need to be taken care of and then come back).

Thanks for suggestions, itod. The following is my thinking, in general, giving 5% coins for swap, so that would be (two options):

1) 50 million total XMG, with 2.5 million XMG swapped with magicoin, or
2) 25 million total XMG, with 1.25 million XMG swapped with magicoin

All, let me know what you think as to "5%" for swap.

And yes, we can delay the swap, not sure how long PoW1 last (kinda thinking maybe months). If PoW1 takes too long, we can perform the swapping slowly, for example, swap 1% in a month, that will take 5 months to accomplish swap.

Thanks for binging this up, lionheart, I think this would be fair according to the cap or more.

All, please don't simply point out whatever you unlike. I understand that; please give me a clue how we do to satisfy both parties, and advice me ASAP...

Edit, what if instead of 1:1 swap rate but 1:x, x? So coins might be under some limit.

Edit2, we're also able to increase total coins to 50m, and increase & extend CPU ming phase.

P.s., you guys didn't read the OP carefully, coin swap was there from the beginning.

This is not premine, though it is a concern. Again what's your suggestion? We can't drop off prior community, but may comprise; Please suggest.

Ok, what do you suggest? Since we're not launched, we are still able to change.

I am sure this is a concern (maybe a major) to the new miners. We may mostly have the prior miners as well continuing their mining here.

I am pretty sure if we launched XMG as brand new, we will attract quite a lot interests, far more than what we have now. However, the existing of XMG is simply based on our prior community efforts, faith and constantly communication/promotions by members (activities have been on facebook over the course of magicoin life). I've gone through a very tough time since made decision towards innovative features. All supporters just supported the decision and the coin; without any profits they can gain from this coin, they simply keep supporting the community, though once the community is small but a very nice one. I cannot drop off magicoin to let it die, and announce a new coin. The growth of XMG belongs to all people around, and I am just accomplishing what I promised.

I can simply go away the magicoin, let it die and start off new XMG from scratch, get a hype and then out, something like that. But that's simply not my style. I wish I will hold the trust of all people, that what I have been with magicoin will last for XMG.

XMG starting with magicoin swap does not mean something similar to a situation that there is a significant pre-mine. Rather coins will be in the hand of prior community. If this is a real big concern, let's do something (below) to minimize that.

For the fairness, I've decided the 1st phase PoW to generate 5.5 million XMG, that is more than the prior coins. I've been thinking (initially) to have even more, like 10 million XMG, simply trying to reduce the concern.

Here below is the overview of coin distribution in different stages posted priorly. We can do something to minimize the influence of coins to be swapped; for example, we can increase total coins to 50 mil, PoW 1st mining to be 10 mil; the rato of swapped coins over the total coins will be then much reduced. Additional to that, I guess there will be "significant"coins unswapped. We will make sure this part of coins being distributed to the community (fairly & freely), or simply destroyed, in order to further reduce concerns.

1) coins to be swapped: 4.5 million (existing magicoin)
2) PoW 1st phase:         5.5 million (short-term)
3) PoW 2nd phase:        5   million (long-term)
4) PoS-II:                     10  million (long-term)

In addition to these, XMG offers a unique CPU algo, PoS-II; more are to be announced, for these I believe are very interesting to miners and holders.

Simply please let me know concerns & what solutions you like; the thread existing here is just to pick up your opinions. In case we cannot fully remove it, we will try to mitigate it.

Here following post is "soft" control, any opinions on the maximum block rewarding and diff?

https://bitcointalk.org/index.php?topic=735170.msg8755719#msg8755719

Idea case is unprofitable mining XMG with a supercomputer compared to mining other coins. Universities should be unlikely in this case. Not speaking of most fairness, rather CPU coin should be much fair than GPU farm backed coins, in particular those only having 7 days PoW.

Edit: nanoprobe looks like you work with academy according to your name . For any worries about university mining, read this story - nice try:

http://www.businessinsider.com/researcher-bitcoin-supercomputers-2014-6