I agree, that would be the easiest thing, no more digging after a specific block.
If this is not an option, burning clams for doog seems reasonable as well.
The problem is that many people vehemently oppose any changes to Clam coin and others want things to go back to the way it was before the digger. I think this solution gives the two groups what they want without any changes to Clam Of course we need a way to vote on this and we will need more details |
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@dooglus, did I get the "plan" right?
I just bought a few CLAMs and (because we are past block 730k already) I will get nothing for it?
Instead I stay on an abandoned chain where most CLAMS in circulation have no value at all because people already moved to a different coin?
I don't think that this will work out.
Any serious investor will lose faith entirely. And early adopters are once again taking the advantages.
Pretty sure all the coins on Polo or any exchange would be valid for the new distribution. But some clarification on all that would be good. I hope so, because anything else would be a ripoff! Lets say we both have 50k Clams on Poloniex it may happen that we get different amounts of Doogcoin depending on which coin of ours was deposited after and which one before block 730000. And the funny thing is, we have no control about it whatsoever. As I suggested earlier, the cutoff should be announced well in advance so people have an opportunity to position themselves accordingly. For example, if an exchange has not committed to honor the distribution then you can withdraw from it. I think the intention is to go back before the digger had such an impact on the coin. How would you deal with the digger getting the rest of his coins and throwing them in a wallet before the cutoff date? |
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Why not implement said Doogcoin alongside Clam on JD, instead of in its place? Kind of like Alex's site where you can gamble a few different crypto's with one common trollbox, etc?
I just spent a few hours away from the computer thinking about things, and came to the same conclusion myself. There's no reason to switch from CLAM to the new coin when we can accept both at the same time. That way people get to lose their balance twice! The Just-Dice codebase isn't set up to handle multiple currencies, but I can simply run two different instances like I did with the original Just-Dice and Doge-Dice sites. I am a big supporter of this idea although I was scolded when I mentioned this before as being off topic. Do we need to take this to another thread before I start asking about details? |
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24 hours til launch!
Good luck! Hope things go big! |
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We had the same idea that thefix was talking about - start a new coin, burn the old coins, and give everybody the coins on the new blockchain to replace the coins they burned. Pretty much a standard swapover. We were going to do it for Fractalcoin, to try and save it before it completely dies. He mentioned building it on Ethereum, we were going to do it on NXT.
But if we did, then what? We take a dying coin, transfer it to a new blockchain, and now it runs better. But what's the point? If nobody was interested in it before, they probably still won't care.
thefix talked about reducing the supply 5000 to 1. If there are less coins, each one is rarer and potentially more valuable. That's a good idea, but there's a bigger problem: you can reduce the supply of VegasCoins by 1/5000, but you can't reduce the overall supply of Altcoins. You still have 1 VegasCoin and over 1000 other altcoins, so it's still not rare and doesn't have as much potential to be valuable.
There's a limited amount of Bitcoin being spent on altcoin exchanges, and it's spread too thin. 50 people buying Vegascoin, 5 people buying Fractalcoin, 1 guy still buying URO. 500 people buying the latest hyped-up coin, and next week 200 of them will be buying something else while the rest lost all their money and are stuck holding last week's bag.
That's 300 people who could have been buying VegasCoin, but they won't be buying anything until they can get rid of what they already bought. But with 300 people selling and only 20 people buying, they're out of luck. Either they continue holding and are never able to re-invest any of that money, or they sell for a loss and have less to spend. And whoever they sell it to probably won't ever get their money back either. So each pump-and-dump removes investors from the crypto markets, and we can hardly afford to lose them.
Each bad coin takes money away from our coins, and we all lose.
The problem is too many altcoins diluting the market. So instead of starting Fractalcoin 2.0, burning the old coins and redeeming them for new coins, we decided to do it for multiple coins. BARR: Burning Altcoins for Redemption and Reduction. We're going to get rid of Fractalcoin, Keycoin, and Sapience, and redeem them for BARR. The swap goes for 1 month, and then we'll do other coins. If we burn enough, we've subtracted all those coins from the market, bringing their 10 or 20 users and adding them all together into BARR.
Every time we burn enough of an altcoin's supply to completely remove it from the market, all remaining altcoins become rarer and potentially more valuable. If we don't burn enough of a coin to completely remove it from the market, it continues with a lower supply and probably a higher price. Either way, the holders benefit and the market benefits. And the coins we burn can never be pumped-and-dumped again.
Since we're starting with the coins we already have bags of, we know we'll be able to significantly reduce the supply of those coins. Hopefully once people see us clearing out coins, they'll want to burn their own coins too. Every coin we absorb makes BARR bigger and thins out the market at the same time.
Check it out at barr.me, or our ANN at bitcointalk.org/index.php?topic=1219460.0
Thank you for the quick response, I like the concept and I think you are on to something with that idea. We need less Junk coins and this may be the way to deal with that issue. |
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With the current trend in bitcoin prices, it's much better if you buy bitcoin in the past days than today but still if you really believe then take the guts of buying it. Investing in BTC is worth to rake the risk than other risky method. Don't just monitored the prices. Act now.
Just buy an amount you can afford to lose and see what its worth in a year or two |
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One option is to create a new coin/token with Ethereum https://www.ethereum.org/tokenWe could give the coin a new name and Build a better community around it Maybe do a swap of like 1 new coin for every 5000 vegas and burn the swapped coins Would could offer a swap for BARR, if there was a working VegasCoin block explorer. Sounds interesting What is BARR? |
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Chain of Conflict is being streamed now live on Twitch. Looks interesting Watching the guy run around with a sword. |
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testcc90cc KH/s-----23,657 XMG/Day----- 2,726.157 Wonder what they are testing  Now 44,231 KH/s, that's not normal. This is a concern... smells like a gpus on it.. Maybe that explains why the hashrate has been so high recently =(
i think it probably has more to do with the fpga that came out for the coin than gpu mining. i tried getting information out of the guy that posted a question about his on reddit but he never responded to me. https://www.reddit.com/r/coinmagi/comments/3ob60w/question_about_fpga/what ever it is.. about 22mhs -->44mhs increase equals almost 100% = first only one unit on it -->then two units on it. in my mind this closes off botnets and 1mhs fpgas maybe faster fpga coming or it is wolf0 again.. A smaller fpga would be nice if people did not abuse them and they would save a ton of energy. Something like https://www.sparkfun.com/products/11953 the MojoV3 if it could work with Magi would be very nice. |
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Goldlabel does anyone from you clan play League of Legends? I have been using my rewards from playing to buy more MAGI  I play, what rewards are you talking about? |
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Before We BeginWhy not create a distribution to clam holders/supporters before the digger started and call it Pearl or something more clever
The new coin could be an experiment that exists with Clam and will allow people to have a choice
I am thinking similar property's with clam and just a smaller distribution
If the dice sites supported the new coin, that would be awesome as well.
Unless I have missed an important memo, it is quite agreed upon that any changes will need to meet a preponderance of wet-ware consensus. The CLAM network belongs to the community; thus, we will attempt to shepherd CLAM, in all situations, toward the consensus of the community it serves. The last I checked, dooglus, xploited and I were in agreement on this concept. Conversations about other networks/coins are off topic for this thread; sorry. If you were interested in creating your own network - please feel free to stop in to #clams on freenode IRC. We would be happy to help you along when you run into problems in implementation.
Perfect I just might take you up on that offer --- Thanks I deleted my "off topic comments" and will refrain from posting here again |
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testcc90cc KH/s-----23,657 XMG/Day----- 2,726.157 Wonder what they are testing Now 44,231 KH/s, that's not normal. Notice the giant reward drop testcc90cc KH/s-----44,133 XMG/Day----- 325.034 testcc90cc KH/s-----23,657 XMG/Day-----2,726.157 The only logical reason I can think of for doing this would be to suppress rewards and encourage exchange buys as the only viable way to Obtain Magi. I think the best option is for people to mine constant with 30% cpu usage long term with the most energy efficient cpu |
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testcc90cc KH/s-----23,657 XMG/Day----- 2,726.157 Wonder what they are testing |
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Hey guys,
I'm new to magi and have got some questions.
I'm using cpuminer v2 with my Intel Core i7 3630QM which is doing about 70 Kh/s - ist this setup okay so far?
I'm looking for a mining calclulation site and a hardware comparison site - could someone please help me?
What would be the estimated outcome (Kh/s) of 4x Intel Six-Core Xeon E7450 6x 2.4GHz? (yes I mean 4 real CPU's)
A good way to get a rough estimate from a given CPU is to take your CPU benchmark x .01 = KH/s So for your cpu https://www.cpubenchmark.net/cpu.php?cpu=Intel+Xeon+E7450+%40+2.40GHz&id=2419&cpuCount=4 11,080 x .01 = 110 KH/s per cpu (this is a rough estimate) You are better off to limit your KH/s to about 100 or 200 KH/s long term Throwing lots of hash at magi like people are doing drops the reward dramatically You can actually earn way more from less hash if people cooperate Right now we have a few people that do not understand that and a few that just don't care |
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BTC halved in 2016 from 25 to 12.5 per block!
The new S7 antminer will increase the Hashrate dramatically, with less power consumption!
ORB can this today !!! Above POS! it consumes less power than a S7 Antminer! The block will also be halved in 2016! at 2 Million Blocks mined
now 1472295 Blocks
Orb also has a much lower total supply compared to bitcoin |
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The problem at the moment is the current high hashrate, gives no profit. Maybe increasing the max. hashrate limit would increase the profit, but I guess price will also decrease.
The main problem is we have a group of people that do not understand how Magi works, so they waste power and resources. Thats right amigo! Maybe we should make a short a good post again about how Magi works! Not a bad idea, basically if everyone dropped the hash to about 100 KH/s (per person) everyone would get more with less resources. Its all about less being more! |
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The problem at the moment is the current high hashrate, gives no profit. Maybe increasing the max. hashrate limit would increase the profit, but I guess price will also decrease.
The main problem is we have a group of people that do not understand how Magi works, so they waste power and resources. |
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Love that photo and what it implies! |
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There was a network issue that took out the main pool server earlier that resulted in all mining addresses failing. This has been resolved and the pool is operational again. To avoid this happening again I'm setting up a fallback server for the main pool daemons and merge mining interface.
Awesome, you rock! Looks like quite a few more miners now also |
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Sent some hash your way to get things started This coin has seen better days, but maybe a pool will help Hopefully the owner of this thread will add your pool to the OP They tend to be very slow with checking in |
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