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Of course there is a reward/bounties for the translation.
Update-----------------------
We now have the following translations done.
Portuguese, Dutch, Chinese and Indonesian.
We are working on Turkish and Italian translations.
We are looking for someone who wants to do the Hebrew translation.
If you want to do this please send me a message.
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Перевод кошелька или перевод темы на форуме?
Can you write that in english? Of course there is a reward/bounties for the translation. |
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Hard fork [client version v1.2.0.1] Please update the wallet to v1.2.0.1 (mandatory): Windows: http://coinmagi.org/files/magi-release/win32_magi_v1.2.0.1.zipLinux: http://coinmagi.org/files/magi-release/linux_amd64_magi-qt_v1.2.0.1Source code: https://github.com/magi-project/magi/This update includes the following hard forks: PoS hard fork at block 131100 for better staking results (Expected on January 6)
PoS-II Protocol V2 hard fork at block 131300 (Expected on January 6)
PoW-V2 hard fork: 1/7/2015, 12:00:00 PM EST time (GMT-5:00)
Details regarding this update: https://bitcointalk.org/index.php?topic=735170.msg9991269#msg9991269
# Minerd ( source code)  A simplified miner enclosed a few compilations: download link Spexx's guide and miner dowloads MarcusDe's guide and miner dowloads ( generic miner) VPS mining, cygwin compilation (windows) Compile and run CPU miner on Mac OS How to run a minerd[MagiIntro Video] - What is Coin of the Magi?   [Donating the magi-project]
XMG: 95V9eZnrghtEriGUhBwwEuqMbDm1HBJ58u
BTC: 188AmugttD1jfy2xYNy6muTzVzYha1JEuq
LTC: Lba3T9NUWcTi2VrKWxtXAT4ypnFGV5ojLC
12/31: Sharping the PoW rewarding system & updates to make PoS-II the most secure coin so far; https://bitcointalk.org/index.php?topic=735170.msg9991269#msg999126912/28: Magi JSON-RPC libraries for C++ and Node.js; https://bitcointalk.org/index.php?topic=735170.msg9967546#msg996754612/03: Preview of MagiPay - standalone payment gateway for Magi; https://bitcointalk.org/index.php?topic=735170.msg9731024#msg973102411/12: Magi Multipool; https://bitcointalk.org/index.php?topic=735170.msg9526629#msg952662911/11: MagiTeam & roadmap & plans; https://bitcointalk.org/index.php?topic=735170.msg9511891#msg951189111/10: Bittrex market is live; https://bittrex.com/Market/?MarketName=BTC-XMG11/09: Magi-stratum for setting up pools; https://bitcointalk.org/index.php?topic=735170.msg9493680#msg949368011/08: Poloniex trading and escrow service; 720,000 XMG burned ( 93m4hAxmCcGXMfnjVPfNhWSjb69sDziGSY); https://bitcointalk.org/index.php?topic=735170.msg9475622#msg947562211/06: Coins Source Trust Index (7/7); https://bitcointalk.org/index.php?topic=735170.msg9460819#msg946081910/30: MagiTor and some other updates; https://bitcointalk.org/index.php?topic=735170.msg9378469#msg9378469; Downloads: http://coinmagi.org/files/magi-release/magitor10/24: Mandatory wallet update [Hardfork] M7M-v2, block rewards, difficulty adjustment - Magi quantum wave (MQW) and PoW-II phase updates; https://bitcointalk.org/index.php?topic=735170.msg9310611#msg931061110/17: Enhancing CPU mining: M7M hardfork in testnet 10/17/2014 8:00 PM EST; https://bitcointalk.org/index.php?topic=735170.msg9230961#msg923096110/07: Coin swap final: total 227,140 XMG will be used for swap, that is only 0.9% of total supply; swap ratio: 16 old Magicoin => 1 XMG; coins swapped no more than 10% of total XMG in circulation, escrow will be used to hold unswapped coins: https://bitcointalk.org/index.php?topic=821170.msg9190490#msg9190490; unswapped coins (except some bounties we paid, like translation, video, etc) will be destroyed. I believe this is very much a guarantee for the miners/investors. 10/07: PoS-II: https://bitcointalk.org/index.php?topic=735170.msg9121445#msg9121445 Coming updates & regarding coin swap; https://bitcointalk.org/index.php?topic=735170.msg9111697#msg911169710/02: Anyone can lead a MagiCampaign; https://bitcointalk.org/index.php?topic=735170.msg9060955#msg906095509/29: Proof of mining campaign; https://bitcointalk.org/index.php?topic=735170.msg9019696#msg9019696 https://bitcointalk.org/index.php?topic=802681.009/28: Releasing MagiPublication (http://arxiv.org/abs/1409.7948), new block rewards explained, statement of future plans; https://bitcointalk.org/index.php?topic=735170.msg9008850#msg9008850 [Available online] https://bitcointalk.org/index.php?topic=735170.msg9023457#msg902345709/26: About the new block reward and more; https://bitcointalk.org/index.php?topic=735170.msg8976083#msg897608309/25: Proposal of algo revision, half-closed source code, pool limiting hash; https://bitcointalk.org/index.php?topic=735170.msg8968087#msg896808709/24: Initiate coin swap; https://bitcointalk.org/index.php?topic=735170.msg8950501#msg895050109/23: Build a solid cpumining network; pls setup FREE VPS; https://bitcointalk.org/index.php?topic=735170.msg8800103#msg880010309/21: How does the new block rewarding system look like: fist look; misc ( IRC): https://bitcointalk.org/index.php?topic=735170.msg8919460#msg891946009/20: Need five pools to support Proof of Mining Campaign; https://bitcointalk.org/index.php?topic=735170.msg8906452#msg890645209/20: Mandatory wallet update v1.0.0.2; https://bitcointalk.org/index.php?topic=735170.msg8898198#msg889819809/19: MagiPlans and more info; https://bitcointalk.org/index.php?topic=735170.msg8892210#msg889221009/19: An potential adjustment of block rewards - diff; https://bitcointalk.org/index.php?topic=735170.msg8884670#msg888467009/18: Urgent, please repond; https://bitcointalk.org/index.php?topic=735170.msg8878920#msg887892009/16: XMG needed for bounties (translation); https://bitcointalk.org/index.php?topic=735170.msg8851642#msg885164209/16: A short summary and an issue to be resolved; https://bitcointalk.org/index.php?topic=735170.msg8845155#msg884515509/13: Mining test before launch; https://bitcointalk.org/index.php?topic=735170.msg8824996#msg882499609/13: A guide for VPS mining; https://bitcointalk.org/index.php?topic=735170.msg8800103#msg880010309/10: OP & coin distribution review; https://bitcointalk.org/index.php?topic=735170.msg8755719#msg875571909/07: About CPU PoW algorithm; https://bitcointalk.org/index.php?topic=735170.msg8716805#msg871680509/04: Miners, possible M7-N algo; https://bitcointalk.org/index.php?topic=735170.msg8680640#msg868064008/30: 2nd testnet; https://bitcointalk.org/index.php?topic=735170.msg8593208#msg859320808/25: cpu&gpu miners ported; cudaminer needs test though: https://bitcointalk.org/index.php?topic=735170.msg8533387#msg8533387https://github.com/magi-project08/23: CPU miner is ready for 2nd test: https://bitcointalk.org/index.php?topic=735170.msg8499202#msg849920208/21: we got an issue, will fix and run the testnet again: https://bitcointalk.org/index.php?topic=735170.msg8463488#msg846348808/20 (PoS-II): https://bitcointalk.org/index.php?topic=735170.msg8453963#msg845396308/18: 1st testnet; https://bitcointalk.org/index.php?topic=735170.msg8427923#msg8427923
12/13: Crypto Mining Blog: http://cryptomining-blog.com/4017-coin-magi-xmg-cpu-only-alternative-crypto-currency/12/01: Coinkita.com (a bitcoin educational community startup) (Indonesian ): http://coinkita.com/xmg-magi/11/23: BTC-Germany: http://blog.btcgermany.eu/altcoin-der-woche-magicoin-xmg/11/15: The Bitcoin News: http://thebitcoinnews.com/2014/11/15/coin-magi-cpu-miners-dream-proof-of-mining-pos-ii/11/14: Coins Source: http://www.coinssource.com/coin-magi-a-cpu-miners-dream-proof-of-mining-pos-ii/10/31: Mundo Crypto: La moneda de distribución justa (Spanish); http://www.mundocrypto.com.ve/uncategorized/magi-xmg-la-moneda-de-distribucion-justa/10/29: The Einsteinium News: https://sites.google.com/site/einsteiniumbiz/home/page-210/28: The Bitcoin News: http://thebitcoinnews.com/2014/10/28/coin-magi/10/28: Cryptos.Us: http://cryptos.us/crypto-news/item/58-coin-magi-a-unique-cpu-coin10/21: Satoshis.Guru: http://www.satoshis.guru/home/coin-info/magicoin/10/19: The Cryptocoin Chronicle: http://cryptocoinchronicle.com/2014/10/magicoin-coin-cpu-miner/
Payment gateway Coin Magi is listed in the TOP position of Coin Market App along with
Bitcoin, Litecoin, Ripple, BitsharesX, NXT, and Peercoin. 
  How does it work?1. A merchant creates an account at m-epays.com; after successful registration one can create a payment box; 2. m-epays.com issues MagiPay account details; 3. Integrate MagiPay to merchant's website; 4. Customer clicks the 'Pay with magi' button, MagiPay connects to m-epays.com server and requests for a specific payment box; 5. m-epays.com issues a MagiPay address and the total amount to be paid; 6. Customer sends coins to the MagiPay address; 7. Once the payment is received and confirmed, the server informs the successful payment; 8. After 1 hour upon the payment is received, the server automatically transfer the amount of magi to merchant's registered external wallet address. What's special?1. Fully configurable compared to the third party service provider, since we ourselves will develop and manage the system; 2. Using the payment service provided by MagiPay will be free, in comparison with cases which charge minimum 0.5%. Additional feature to make use of the free service is the inclusion of fiat/BTC-XMG conversion, which practically reduces charge accumulated during the process, where payment is done typically by, for example, the credit card. 3. Delivery: - Phase #1: Basic functionality, e.g., buying goods online via using XMG (end of December or so)
- Phase #2: Embedded with advanced features (survey, see blow)
- Phase #3: The inclusion of the fiat/BTC-XMG exchange.
Survey of advanced features: https://docs.google.com/forms/d/1cq1E-8hvOcaOaAFPES9X9IIf1gV9ZP-ibgWbVUsBOfY/viewform?usp=send_formPoW phase I: block 1 - 50,000; block rewards between 5 and 300 XMG
PoW phase II: block > 50,000; block rewards between 3 and 50 XMG
PoS-II: initiated at block 10080 (see following details)
addnode=104.128.225.215
addnode=216.189.144.213
addnode=162.245.217.165
addnode=104.131.57.65
addnode=104.131.42.100
( Disable PoS-II) Games Faucet Donation:
XMG: 95V9eZnrghtEriGUhBwwEuqMbDm1HBJ58u
BTC: 188AmugttD1jfy2xYNy6muTzVzYha1JEuq
LTC: Lba3T9NUWcTi2VrKWxtXAT4ypnFGV5ojLC |
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I think it will take some time.
At this time, the financial news come in the background. There are too many other things in the world that have the attention. Once governments have more time for finacial things like the bitcoin, we are probably going to hear something about it.
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Good things take time. That's okay dev. The important thing is that the launch is successful.  |
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Good job! i will send you pm. |
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We need a translator for Magicoin. Most innovative altcoin of the moment If you want to do this please send me a message. Check this page: https://bitcointalk.org/index.php?topic=735170.0אנחנו צריכים מתורגמן לMagicoin. Altcoin החדשני ביותר של הרגע אם אתה רוצה לעשות את זה אנא שלח לי הודעה. בדוק בדף זה: https://bitcointalk.org/index.php?topic=735170.0Testnethttps://bitcointalk.org/index.php?topic=735170.msg8427923#msg842792308/25 updates: cpu&gpu miners ported; cudaminer needs test though: https://bitcointalk.org/index.php?topic=735170.msg8533387#msg8533387https://github.com/magi-project08/23 updates: CPU miner is ready for 2nd test: https://bitcointalk.org/index.php?topic=735170.msg8499202#msg849920208/21 updates: we got an issue, will fix and run the testnet again: https://bitcointalk.org/index.php?topic=735170.msg8463488#msg846348808/20 updates (PoS-II): https://bitcointalk.org/index.php?topic=735170.msg8453963#msg8453963
[Testnet] XMG wallets for windows and linux downloads:
http://cryptomagic.com/files/magi-release/To run the wallet, testnet mode must be set. This can be done through the conf file: magi.conf. The default folder having this file is: %appdata%\magi (windows) or ~/.magi (linux) (sorry we don't have the mac wallet yet). magi.conf should contain this line: You may also need: daemon=1
server=1
rpcallowip=127.0.0.1
rpcuser=rpcuser
rpcpassword=rpcpass Once conf file is given in the right place, the wallet should be running on the testnet. Go to menu Help -> Debug window -> Console, run setgenerate true 1 to mine coins ("1" is for 1 cpu core). We will update standalone miner asap. Please request wallets for the operating systems not available yet, I will compile that, going forward, to assure all wallets available at the launch.
 XMG - Coin of The Magi   Freenode IRC: #magiLaunch date: August 15, 8:00 PM EST (delayed)https://bitcointalk.org/index.php?topic=735170.msg8373576#msg8373576 (Hybrid PoW/PoS-II) Proof of WokHash: M7;
Block time: 3 minutes;
Block reward: - difficulty dependent; maximum 500 XMG for the 1st phase (see below for details);
- 7% annual reduction in the 2nd phaseProof of Stake-IIIntroduce a new staking mechanism: PoS-II
Minimum stake coin age : 2 hours
Dynamic coin age: maximum 60 days, subject to change (more info to be released)
The new system designed resistant to "rich-getting-richer"
Dynamic annual interest: depends on network weight, maximum 5% (5% reduction per year)
Block time: 1.5 minutes;
Block hash: SHA256
Maturity: 100
PoS-II initiated after two weeks of PoW
Total coins PoW+PoS: 50 25 million   Tor (anonymity network) directs Internet traffic through a worldwide network which allows to conceal a user's location. Although digitalcoins like Bitcoin can be used "anonymously", any transactions are still traceable through the blockchain. Using the Tor network makes it even more difficult for one to track any other peers on the network. We schedule to deliver the Tor wallet once PoS is initiated (about two weeks). Some initial plans
1. Coin launch & swap, we will hold back the release of source code for a few days;
2. Initiate PoS, more info will be released;
3. Wallet enables the Tor anonymity;
4. Deploying a mining mechanism additional to regular PoW/PoS mining, won't be completely new but rather based on what had in the past (with improved functioning probably, goal is to reduce power usage on the whole);
5. Deploying anonymous features;
6. More plans coming while we will make sure PoW/PoS runs properly at this moment.
Pools
http://www.hashharder.com/m7/magi
 # Coin swapMagi is not deigned to be a completely new coin; rather, it is a continue of our prior Magicoin project: https://bitcointalk.org/index.php?topic=548368.0, based on Scrypt PoW. Being seeing the advent of tough time for Scrypt coin as well as lack of innovations at the launch, we started to seek creative features to be merging with this coin. We've been around since April, 2014, and simply don't want to give up any efforts we've tried; among paramount factors are the community we've maintained, for example, several facebook groups are managed by our team and people who liked Magicoin. Since we started from there, we are intent to continue from there, just this simple. Thanks to this, all of services including social network, webpage, faucets and the community will continue which will save a lot of time for us to create from the scratch.
Totally 4.5 million Magicoins were minted, as such the same amount of XMG will be used for coin swap purpose. The old Magicoin network will cease to mint new coins after block 75,000. This allows us to maintain the Magicoin network "forever"; no deadline is set for the coin swap. Ask us anytime to proceed as you wish.
We realize that there could be "a lot" coins left without swapping for whatever reasons. Over time, we will release slowly these unswapped coins to the public, completely FREE (no IPO/ICO etc), for example, giveaway to Bitcointalk users with Jr. Member and above.
I am sure you will question the stake we could gain by holding so many coins. We guarantee this would not happen (PoS disabled), because we speak TRUST on us (LOL); ok, seriously, having so many coins sitting in a wallet won't generate any interests because of the PoS-II mechanism. Details coming soon once the coin is launched. # Phase 1 - primary PoW: 5.5 million XMG to be mintedWe decide to release 5.5 million coins into public during Phase 1 through PoW mining, in addition to 4.5 million for coin swap purpose. This is to attract new miners into this new designed coin. All of the coins would not be mined in 2 days, 7 days or any short time period, but rather depending on the network difficulty. Block reward will be null 10 XMG if the network difficulty is low enough; it increases with higher difficulty, with a maximum of 500 XMG when diff = 150, then decreases exponentially with increasing difficulty. We estimate it may take a month (with full maximum reward) to years to reach the end of Phase II.
PoS will be initiated after two weeks PoW mining. According to the interest rate, the amount of coins generated will be much less than PoW during Phase 1 if PoW mining hard. # Phase 2 similar amount of PoW and PoS coins mintedThe maximum PoW block reward is 10 XMG, and the reward decreases with the difficulty (square root). This nearly generates similar amount to the PoS to be minted annually. However, the ratio of PoW over PoS is still subject to change, once we implement a mechanism to adjust PoW mining reward (worse case is to disable it) when the network sees significant hash impacts. Our intention, one of our further plan, is to gradually suppress PoW mining through GPU etc and hence to maintain the mining process more energy efficient in total and secured network. # Magi - the most energy efficient and secured systemMagi is designed to be energy efficient on the whole, "superficially" through many dynamic adjustment mechanisms. Present block generation is through hybrid PoW/PoS. The general idea is to reduce PoW mining through GPU (or probably ASIC), with the assistance of secured PoS-II.
- The PoW mining is done through M7 algo, created by the cryptonite coin, which, based on our evaluation, is more secure and energy efficient compared to X11 etc;
- A mechanism is yet to be introduced to suppress PoW while increase PoS when big miners come into the network;
- We plan to add a further mining mechanism, which is to reduce the role of GPU (or probably ASIC) in PoW mining. # PoS-IIOne of the major innovations appears to be the PoS-II feature. Yet, it is still under the test, we dedicate that it would be "rich-getting-richer" resistant. We will release relevant information later on.
# Magi is smart
We provide smart adjustment throughout the coin design, as mentioned in #1; full description will be released later.
Algo 1 core 2 cores 3 cores 4 cores
Fugue: 43 - 58 C (390KH/s 50 - 63 C (780KH/s) 54 - 68 C (1750KH/s) 65 - 71 C (1900KH/s)
Whirlpool: 44 - 60 C (144-156KH/s) 50 - 66 C (300KH/s) 54 - 69 C (420K) 61 - 74 C (590KH/s)
Groestl: 43 - 60 C (140KH/s) 50 - 68 C (270KH/s) 56 - 73 C (410K) 65 - 75 C (540KH/s)
FRESH: 42 - 60 C (89KH/s) 49 - 67 C (175KH/s) 55 - 72 C (255KH/s) 63 - 74 C (340KH/s)
NIST5: 44 - 60 C (60KH/s) 51 - 67 C (155KH/s) 56 - 72 C (230KH/s) 65 - 77 C (305KH/s)
M7: 44 - 59 C (68KH/s) 51 - 66 C (133KH/s) 56 - 71 C (200KH/s) 63 - 76 C (260KH/s)
X11: 44 - 60 C (36KH/s) 51 - 66 C (70KH/s) 56 - 72 C (110KH/s) 65 - 76 C (160KH/s)
X13: 44 - 61 C (25KH/s) 51 - 66 C (49KH/s) 55 - 71 C (73KH/s) 61 - 75 C (95KH/s)
HVC: 42 - 59 C (19KH/s) 49 - 64 C (39KH/s) 53 - 69 C (55KH/s) 62 - 72 C (88KH/s)
This ranking is roughly similar to the investigation of power usage done by cryptomining-blog: http://cryptomining-blog.com/3036-power-usage-of-geforce-gtx-750-ti-with-various-crypto-algorithms/. The Fugue is most energy efficient; Whirlpool is similarly efficient based on users' experience, while Groestl appreas to be an exception. We should notice that only one fugue256 hash function is used in Fugue, in comparison with chained (X11 etc) / parallel (M7, HVC) configuration of multiple functions. Intuitively, it is quite reasonable that a miner will stay cool if the work to be done is not that computationally hard. From this point, using one hash function should be computationally easy compared to seek target hash through multiple functions. Although without any apparent proofs, we could speak that chained algo, in which hash is generated and passed to the next one by one (i.e., one input generates the output), behaves the same way of one-hash-function algo from the security point of view. For this reason, the algo with multiple inputs should be more secured, which is exactly what the M7 and HVC do.
We aimed to construct a new hashing function, with a target of memory hard at the beginning. This obviously won't be energy efficient. Implementing a new hash algo by simply adding more functions to be X18 etc whatever is not good to the coin at all. As a result we turn into M7, which just satisfies what we need. Read cryptonite wiki for more info: http://cryptonite.info/wiki/index.php?title=M7_PoW.
Most likely ASIC would come to any algo created. In addition to this fact, running GPU miners more or less consume a lot energies on the whole. Reducing the tempt of GPU mining will be one of our concerns as to the future plan. TranslationDutch (by 111magic): https://bitcointalk.org/index.php?topic=740276.0Indonesian (by feryjhie): https://bitcointalk.org/index.php?topic=760497.0Portugese ( by libivan) : https://bitcointalk.org/index.php?topic=763774Chinese (by Baby222) : https://bitcointalk.org/index.php?topic=763187.0Bounties#Contact me about the bounties for translation of the ANN thread |
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Нам нужен переводчик для Magicoin. Самые инновационные altcoin момента Если вы хотите это сделать, пожалуйста, пришлите мне сообщение. Проверьте эту страницу: https://bitcointalk.org/index.php?topic=735170.0We need a translator for Magicoin. Most innovative altcoin of the moment If you want to do this please send me a message. Check this page: https://bitcointalk.org/index.php?topic=735170.02nd Testnet(2nd) https://bitcointalk.org/index.php?topic=735170.msg8593208#msg8593208http://cryptomagic.com/files/magi-release/ (current v1.0.0.2 testnet)(1st) https://bitcointalk.org/index.php?topic=735170.msg8427923#msg842792308/30 updates: 2nd testnet wallets; https://bitcointalk.org/index.php?topic=735170.msg8593208#msg859320808/25 updates: cpu&gpu miners ported; cudaminer needs test though: https://bitcointalk.org/index.php?topic=735170.msg8533387#msg8533387https://github.com/magi-project08/23 updates: CPU miner is ready for 2nd test: https://bitcointalk.org/index.php?topic=735170.msg8499202#msg849920208/21 updates: we got an issue, will fix and run the testnet again: https://bitcointalk.org/index.php?topic=735170.msg8463488#msg846348808/20 updates (PoS-II): https://bitcointalk.org/index.php?topic=735170.msg8453963#msg8453963
[Testnet] XMG wallets for windows and linux downloads:
http://cryptomagic.com/files/magi-release/To run the wallet, testnet mode must be set. This can be done through the conf file: magi.conf. The default folder having this file is: %appdata%\magi (windows) or ~/.magi (linux) (sorry we don't have the mac wallet yet). magi.conf should contain this line: You may also need: daemon=1
server=1
rpcallowip=127.0.0.1
rpcuser=rpcuser
rpcpassword=rpcpass Once conf file is given in the right place, the wallet should be running on the testnet. Go to menu Help -> Debug window -> Console, run setgenerate true 1 to mine coins ("1" is for 1 cpu core). We will update standalone miner asap. Please request wallets for the operating systems not available yet, I will compile that, going forward, to assure all wallets available at the launch.
XMG - Coin of The Magi Freenode IRC: #magiLaunch date: August 15, 8:00 PM EST (delayed)https://bitcointalk.org/index.php?topic=735170.msg8373576#msg8373576(Hybrid PoW/PoS-II) Proof of WokHash: M7;
Block time: 3 minutes;
Block reward: - difficulty dependent; maximum 500 XMG for the 1st phase (see below for details);
- 7% annual reduction in the 2nd phaseProof of Stake-IIIntroduce a new staking mechanism: PoS-II
Minimum stake coin age : 2 hours
Dynamic coin age: maximum 60 days, subject to change (more info to be released)
The new system designed resistant to "rich-getting-richer"
Dynamic annual interest: depends on network weight, maximum 5% (5% reduction per year)
Block time: 1.5 minutes;
Block hash: SHA256
Maturity: 100
PoS-II initiated after two weeks of PoW
Total coins PoW+PoS: 50 25 million Tor (anonymity network) directs Internet traffic through a worldwide network which allows to conceal a user's location. Although digitalcoins like Bitcoin can be used "anonymously", any transactions are still traceable through the blockchain. Using the Tor network makes it even more difficult for one to track any other peers on the network. We schedule to deliver the Tor wallet once PoS is initiated (about two weeks). Some initial plans
1. Coin launch & swap, we will hold back the release of source code for a few days;
2. Initiate PoS, more info will be released;
3. Wallet enables the Tor anonymity;
4. Deploying a mining mechanism additional to regular PoW/PoS mining, won't be completely new but rather based on what had in the past (with improved functioning probably, goal is to reduce power usage on the whole);
5. Deploying anonymous features;
6. More plans coming while we will make sure PoW/PoS runs properly at this moment.
Pools
http://www.hashharder.com/m7/magi
# Coin swapMagi is not deigned to be a completely new coin; rather, it is a continue of our prior Magicoin project: https://bitcointalk.org/index.php?topic=548368.0, based on Scrypt PoW. Being seeing the advent of tough time for Scrypt coin as well as lack of innovations at the launch, we started to seek creative features to be merging with this coin. We've been around since April, 2014, and simply don't want to give up any efforts we've tried; among paramount factors are the community we've maintained, for example, several facebook groups are managed by our team and people who liked Magicoin. Since we started from there, we are intent to continue from there, just this simple. Thanks to this, all of services including social network, webpage, faucets and the community will continue which will save a lot of time for us to create from the scratch.
Totally 4.5 million Magicoins were minted, as such the same amount of XMG will be used for coin swap purpose. The old Magicoin network will cease to mint new coins after block 75,000. This allows us to maintain the Magicoin network "forever"; no deadline is set for the coin swap. Ask us anytime to proceed as you wish.
We realize that there could be "a lot" coins left without swapping for whatever reasons. Over time, we will release slowly these unswapped coins to the public, completely FREE (no IPO/ICO etc), for example, giveaway to Bitcointalk users with Jr. Member and above.
I am sure you will question the stake we could gain by holding so many coins. We guarantee this would not happen (PoS disabled), because we speak TRUST on us (LOL); ok, seriously, having so many coins sitting in a wallet won't generate any interests because of the PoS-II mechanism. Details coming soon once the coin is launched. # Phase 1 - primary PoW: 5.5 million XMG to be mintedWe decide to release 5.5 million coins into public during Phase 1 through PoW mining, in addition to 4.5 million for coin swap purpose. This is to attract new miners into this new designed coin. All of the coins would not be mined in 2 days, 7 days or any short time period, but rather depending on the network difficulty. Block reward will be null 10 XMG if the network difficulty is low enough; it increases with higher difficulty, with a maximum of 500 XMG when diff = 150, then decreases exponentially with increasing difficulty. We estimate it may take a month (with full maximum reward) to years to reach the end of Phase II.
PoS will be initiated after two weeks PoW mining. According to the interest rate, the amount of coins generated will be much less than PoW during Phase 1 if PoW mining hard. # Phase 2 similar amount of PoW and PoS coins mintedThe maximum PoW block reward is 10 XMG, and the reward decreases with the difficulty (square root). This nearly generates similar amount to the PoS to be minted annually. However, the ratio of PoW over PoS is still subject to change, once we implement a mechanism to adjust PoW mining reward (worse case is to disable it) when the network sees significant hash impacts. Our intention, one of our further plan, is to gradually suppress PoW mining through GPU etc and hence to maintain the mining process more energy efficient in total and secured network. # Magi - the most energy efficient and secured systemMagi is designed to be energy efficient on the whole, "superficially" through many dynamic adjustment mechanisms. Present block generation is through hybrid PoW/PoS. The general idea is to reduce PoW mining through GPU (or probably ASIC), with the assistance of secured PoS-II.
- The PoW mining is done through M7 algo, created by the cryptonite coin, which, based on our evaluation, is more secure and energy efficient compared to X11 etc;
- A mechanism is yet to be introduced to suppress PoW while increase PoS when big miners come into the network;
- We plan to add a further mining mechanism, which is to reduce the role of GPU (or probably ASIC) in PoW mining. # PoS-IIOne of the major innovations appears to be the PoS-II feature. Yet, it is still under the test, we dedicate that it would be "rich-getting-richer" resistant. We will release relevant information later on.
# Magi is smart
We provide smart adjustment throughout the coin design, as mentioned in #1; full description will be released later.
Algo 1 core 2 cores 3 cores 4 cores
Fugue: 43 - 58 C (390KH/s 50 - 63 C (780KH/s) 54 - 68 C (1750KH/s) 65 - 71 C (1900KH/s)
Whirlpool: 44 - 60 C (144-156KH/s) 50 - 66 C (300KH/s) 54 - 69 C (420K) 61 - 74 C (590KH/s)
Groestl: 43 - 60 C (140KH/s) 50 - 68 C (270KH/s) 56 - 73 C (410K) 65 - 75 C (540KH/s)
FRESH: 42 - 60 C (89KH/s) 49 - 67 C (175KH/s) 55 - 72 C (255KH/s) 63 - 74 C (340KH/s)
NIST5: 44 - 60 C (60KH/s) 51 - 67 C (155KH/s) 56 - 72 C (230KH/s) 65 - 77 C (305KH/s)
M7: 44 - 59 C (68KH/s) 51 - 66 C (133KH/s) 56 - 71 C (200KH/s) 63 - 76 C (260KH/s)
X11: 44 - 60 C (36KH/s) 51 - 66 C (70KH/s) 56 - 72 C (110KH/s) 65 - 76 C (160KH/s)
X13: 44 - 61 C (25KH/s) 51 - 66 C (49KH/s) 55 - 71 C (73KH/s) 61 - 75 C (95KH/s)
HVC: 42 - 59 C (19KH/s) 49 - 64 C (39KH/s) 53 - 69 C (55KH/s) 62 - 72 C (88KH/s)
This ranking is roughly similar to the investigation of power usage done by cryptomining-blog: http://cryptomining-blog.com/3036-power-usage-of-geforce-gtx-750-ti-with-various-crypto-algorithms/. The Fugue is most energy efficient; Whirlpool is similarly efficient based on users' experience, while Groestl appreas to be an exception. We should notice that only one fugue256 hash function is used in Fugue, in comparison with chained (X11 etc) / parallel (M7, HVC) configuration of multiple functions. Intuitively, it is quite reasonable that a miner will stay cool if the work to be done is not that computationally hard. From this point, using one hash function should be computationally easy compared to seek target hash through multiple functions. Although without any apparent proofs, we could speak that chained algo, in which hash is generated and passed to the next one by one (i.e., one input generates the output), behaves the same way of one-hash-function algo from the security point of view. For this reason, the algo with multiple inputs should be more secured, which is exactly what the M7 and HVC do.
We aimed to construct a new hashing function, with a target of memory hard at the beginning. This obviously won't be energy efficient. Implementing a new hash algo by simply adding more functions to be X18 etc whatever is not good to the coin at all. As a result we turn into M7, which just satisfies what we need. Read cryptonite wiki for more info: http://cryptonite.info/wiki/index.php?title=M7_PoW.
Most likely ASIC would come to any algo created. In addition to this fact, running GPU miners more or less consume a lot energies on the whole. Reducing the tempt of GPU mining will be one of our concerns as to the future plan. TranslationDutch (by 111magic): https://bitcointalk.org/index.php?topic=740276.0Indonesian (by feryjhie): https://bitcointalk.org/index.php?topic=760497.0Chinese (by baby222): https://bitcointalk.org/index.php?topic=763187.0Portuguese (by libivan): https://bitcointalk.org/index.php?topic=763774Bounties# Contact me about the bounties for translation of the ANN thread# Bounties for windows compilation of miners (PM) |
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고유 altcoin. 중국어 개발자. 동방 박사의 동전. 번역의 경우, 나에게 메시지를 보내 주시기 바랍니다. Hard fork [client version v1.2.0.1] Please update the wallet to v1.2.0.1 (mandatory): Windows: http://coinmagi.org/files/magi-release/win32_magi_v1.2.0.1.zipLinux: http://coinmagi.org/files/magi-release/linux_amd64_magi-qt_v1.2.0.1Source code: https://github.com/magi-project/magi/This update includes the following hard forks: PoS hard fork at block 131100 for better staking results (Expected on January 6)
PoS-II Protocol V2 hard fork at block 131300 (Expected on January 6)
PoW-V2 hard fork: 1/7/2015, 12:00:00 PM EST time (GMT-5:00)
Details regarding this update: https://bitcointalk.org/index.php?topic=735170.msg9991269#msg9991269
# Minerd ( source code) A simplified miner enclosed a few compilations: download link Spexx's guide and miner dowloads MarcusDe's guide and miner dowloads ( generic miner) VPS mining, cygwin compilation (windows) Compile and run CPU miner on Mac OS How to run a minerd[MagiIntro Video] - What is Coin of the Magi? [Donating the magi-project]
XMG: 95V9eZnrghtEriGUhBwwEuqMbDm1HBJ58u
BTC: 188AmugttD1jfy2xYNy6muTzVzYha1JEuq
LTC: Lba3T9NUWcTi2VrKWxtXAT4ypnFGV5ojLC
12/31: Sharping the PoW rewarding system & updates to make PoS-II the most secure coin so far; https://bitcointalk.org/index.php?topic=735170.msg9991269#msg999126912/28: Magi JSON-RPC libraries for C++ and Node.js; https://bitcointalk.org/index.php?topic=735170.msg9967546#msg996754612/03: Preview of MagiPay - standalone payment gateway for Magi; https://bitcointalk.org/index.php?topic=735170.msg9731024#msg973102411/12: Magi Multipool; https://bitcointalk.org/index.php?topic=735170.msg9526629#msg952662911/11: MagiTeam & roadmap & plans; https://bitcointalk.org/index.php?topic=735170.msg9511891#msg951189111/10: Bittrex market is live; https://bittrex.com/Market/?MarketName=BTC-XMG11/09: Magi-stratum for setting up pools; https://bitcointalk.org/index.php?topic=735170.msg9493680#msg949368011/08: Poloniex trading and escrow service; 720,000 XMG burned ( 93m4hAxmCcGXMfnjVPfNhWSjb69sDziGSY); https://bitcointalk.org/index.php?topic=735170.msg9475622#msg947562211/06: Coins Source Trust Index (7/7); https://bitcointalk.org/index.php?topic=735170.msg9460819#msg946081910/30: MagiTor and some other updates; https://bitcointalk.org/index.php?topic=735170.msg9378469#msg9378469; Downloads: http://coinmagi.org/files/magi-release/magitor10/24: Mandatory wallet update [Hardfork] M7M-v2, block rewards, difficulty adjustment - Magi quantum wave (MQW) and PoW-II phase updates; https://bitcointalk.org/index.php?topic=735170.msg9310611#msg931061110/17: Enhancing CPU mining: M7M hardfork in testnet 10/17/2014 8:00 PM EST; https://bitcointalk.org/index.php?topic=735170.msg9230961#msg923096110/07: Coin swap final: total 227,140 XMG will be used for swap, that is only 0.9% of total supply; swap ratio: 16 old Magicoin => 1 XMG; coins swapped no more than 10% of total XMG in circulation, escrow will be used to hold unswapped coins: https://bitcointalk.org/index.php?topic=821170.msg9190490#msg9190490; unswapped coins (except some bounties we paid, like translation, video, etc) will be destroyed. I believe this is very much a guarantee for the miners/investors. 10/07: PoS-II: https://bitcointalk.org/index.php?topic=735170.msg9121445#msg9121445 Coming updates & regarding coin swap; https://bitcointalk.org/index.php?topic=735170.msg9111697#msg911169710/02: Anyone can lead a MagiCampaign; https://bitcointalk.org/index.php?topic=735170.msg9060955#msg906095509/29: Proof of mining campaign; https://bitcointalk.org/index.php?topic=735170.msg9019696#msg9019696 https://bitcointalk.org/index.php?topic=802681.009/28: Releasing MagiPublication (http://arxiv.org/abs/1409.7948), new block rewards explained, statement of future plans; https://bitcointalk.org/index.php?topic=735170.msg9008850#msg9008850 [Available online] https://bitcointalk.org/index.php?topic=735170.msg9023457#msg902345709/26: About the new block reward and more; https://bitcointalk.org/index.php?topic=735170.msg8976083#msg897608309/25: Proposal of algo revision, half-closed source code, pool limiting hash; https://bitcointalk.org/index.php?topic=735170.msg8968087#msg896808709/24: Initiate coin swap; https://bitcointalk.org/index.php?topic=735170.msg8950501#msg895050109/23: Build a solid cpumining network; pls setup FREE VPS; https://bitcointalk.org/index.php?topic=735170.msg8800103#msg880010309/21: How does the new block rewarding system look like: fist look; misc ( IRC): https://bitcointalk.org/index.php?topic=735170.msg8919460#msg891946009/20: Need five pools to support Proof of Mining Campaign; https://bitcointalk.org/index.php?topic=735170.msg8906452#msg890645209/20: Mandatory wallet update v1.0.0.2; https://bitcointalk.org/index.php?topic=735170.msg8898198#msg889819809/19: MagiPlans and more info; https://bitcointalk.org/index.php?topic=735170.msg8892210#msg889221009/19: An potential adjustment of block rewards - diff; https://bitcointalk.org/index.php?topic=735170.msg8884670#msg888467009/18: Urgent, please repond; https://bitcointalk.org/index.php?topic=735170.msg8878920#msg887892009/16: XMG needed for bounties (translation); https://bitcointalk.org/index.php?topic=735170.msg8851642#msg885164209/16: A short summary and an issue to be resolved; https://bitcointalk.org/index.php?topic=735170.msg8845155#msg884515509/13: Mining test before launch; https://bitcointalk.org/index.php?topic=735170.msg8824996#msg882499609/13: A guide for VPS mining; https://bitcointalk.org/index.php?topic=735170.msg8800103#msg880010309/10: OP & coin distribution review; https://bitcointalk.org/index.php?topic=735170.msg8755719#msg875571909/07: About CPU PoW algorithm; https://bitcointalk.org/index.php?topic=735170.msg8716805#msg871680509/04: Miners, possible M7-N algo; https://bitcointalk.org/index.php?topic=735170.msg8680640#msg868064008/30: 2nd testnet; https://bitcointalk.org/index.php?topic=735170.msg8593208#msg859320808/25: cpu&gpu miners ported; cudaminer needs test though: https://bitcointalk.org/index.php?topic=735170.msg8533387#msg8533387https://github.com/magi-project08/23: CPU miner is ready for 2nd test: https://bitcointalk.org/index.php?topic=735170.msg8499202#msg849920208/21: we got an issue, will fix and run the testnet again: https://bitcointalk.org/index.php?topic=735170.msg8463488#msg846348808/20 (PoS-II): https://bitcointalk.org/index.php?topic=735170.msg8453963#msg845396308/18: 1st testnet; https://bitcointalk.org/index.php?topic=735170.msg8427923#msg8427923
12/13: Crypto Mining Blog: http://cryptomining-blog.com/4017-coin-magi-xmg-cpu-only-alternative-crypto-currency/12/01: Coinkita.com (a bitcoin educational community startup) (Indonesian ): http://coinkita.com/xmg-magi/11/23: BTC-Germany: http://blog.btcgermany.eu/altcoin-der-woche-magicoin-xmg/11/15: The Bitcoin News: http://thebitcoinnews.com/2014/11/15/coin-magi-cpu-miners-dream-proof-of-mining-pos-ii/11/14: Coins Source: http://www.coinssource.com/coin-magi-a-cpu-miners-dream-proof-of-mining-pos-ii/10/31: Mundo Crypto: La moneda de distribución justa (Spanish); http://www.mundocrypto.com.ve/uncategorized/magi-xmg-la-moneda-de-distribucion-justa/10/29: The Einsteinium News: https://sites.google.com/site/einsteiniumbiz/home/page-210/28: The Bitcoin News: http://thebitcoinnews.com/2014/10/28/coin-magi/10/28: Cryptos.Us: http://cryptos.us/crypto-news/item/58-coin-magi-a-unique-cpu-coin10/21: Satoshis.Guru: http://www.satoshis.guru/home/coin-info/magicoin/10/19: The Cryptocoin Chronicle: http://cryptocoinchronicle.com/2014/10/magicoin-coin-cpu-miner/
Payment gateway Coin Magi is listed in the TOP position of Coin Market App along with
Bitcoin, Litecoin, Ripple, BitsharesX, NXT, and Peercoin.
How does it work?1. A merchant creates an account at m-epays.com; after successful registration one can create a payment box; 2. m-epays.com issues MagiPay account details; 3. Integrate MagiPay to merchant's website; 4. Customer clicks the 'Pay with magi' button, MagiPay connects to m-epays.com server and requests for a specific payment box; 5. m-epays.com issues a MagiPay address and the total amount to be paid; 6. Customer sends coins to the MagiPay address; 7. Once the payment is received and confirmed, the server informs the successful payment; 8. After 1 hour upon the payment is received, the server automatically transfer the amount of magi to merchant's registered external wallet address. What's special?1. Fully configurable compared to the third party service provider, since we ourselves will develop and manage the system; 2. Using the payment service provided by MagiPay will be free, in comparison with cases which charge minimum 0.5%. Additional feature to make use of the free service is the inclusion of fiat/BTC-XMG conversion, which practically reduces charge accumulated during the process, where payment is done typically by, for example, the credit card. 3. Delivery: - Phase #1: Basic functionality, e.g., buying goods online via using XMG (end of December or so)
- Phase #2: Embedded with advanced features (survey, see blow)
- Phase #3: The inclusion of the fiat/BTC-XMG exchange.
Survey of advanced features: https://docs.google.com/forms/d/1cq1E-8hvOcaOaAFPES9X9IIf1gV9ZP-ibgWbVUsBOfY/viewform?usp=send_formPoW phase I: block 1 - 50,000; block rewards between 5 and 300 XMG
PoW phase II: block > 50,000; block rewards between 3 and 50 XMG
PoS-II: initiated at block 10080 (see following details)
addnode=104.128.225.215
addnode=216.189.144.213
addnode=162.245.217.165
addnode=104.131.57.65
addnode=104.131.42.100
( Disable PoS-II) Games Faucet Donation:
XMG: 95V9eZnrghtEriGUhBwwEuqMbDm1HBJ58u
BTC: 188AmugttD1jfy2xYNy6muTzVzYha1JEuq
LTC: Lba3T9NUWcTi2VrKWxtXAT4ypnFGV5ojLC |
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Biz Magicoin için bir tercüman lazım. Şu an en yenilikçi altcoin Eğer yapmak istiyorsanız bu bana bir mesaj gönderin. Do not miss the most innovative altcoin so far We need a translator for Magicoin. Most innovative altcoin of the moment If you want to do this please send me a message. Check this page: https://bitcointalk.org/index.php?topic=735170.0 |
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Testnethttps://bitcointalk.org/index.php?topic=735170.msg8427923#msg842792308/25 updates: cpu&gpu miners ported; cudaminer needs test though: https://bitcointalk.org/index.php?topic=735170.msg8533387#msg8533387https://github.com/magi-project08/23 updates: CPU miner is ready for 2nd test: https://bitcointalk.org/index.php?topic=735170.msg8499202#msg849920208/21 updates: we got an issue, will fix and run the testnet again: https://bitcointalk.org/index.php?topic=735170.msg8463488#msg846348808/20 updates (PoS-II): https://bitcointalk.org/index.php?topic=735170.msg8453963#msg8453963
[Testnet] XMG wallets for windows and linux downloads:
http://cryptomagic.com/files/magi-release/To run the wallet, testnet mode must be set. This can be done through the conf file: magi.conf. The default folder having this file is: %appdata%\magi (windows) or ~/.magi (linux) (sorry we don't have the mac wallet yet). magi.conf should contain this line: You may also need: daemon=1
server=1
rpcallowip=127.0.0.1
rpcuser=rpcuser
rpcpassword=rpcpass Once conf file is given in the right place, the wallet should be running on the testnet. Go to menu Help -> Debug window -> Console, run setgenerate true 1 to mine coins ("1" is for 1 cpu core). We will update standalone miner asap. Please request wallets for the operating systems not available yet, I will compile that, going forward, to assure all wallets available at the launch.
XMG - Coin of The Magi Freenode IRC: #magiLaunch date: August 15, 8:00 PM EST (delayed)https://bitcointalk.org/index.php?topic=735170.msg8373576#msg8373576(Hybrid PoW/PoS-II) Proof of WokHash: M7;
Block time: 3 minutes;
Block reward: - difficulty dependent; maximum 500 XMG for the 1st phase (see below for details);
- 7% annual reduction in the 2nd phaseProof of Stake-IIIntroduce a new staking mechanism: PoS-II
Minimum stake coin age : 2 hours
Dynamic coin age: maximum 60 days, subject to change (more info to be released)
The new system designed resistant to "rich-getting-richer"
Dynamic annual interest: depends on network weight, maximum 5% (5% reduction per year)
Block time: 1.5 minutes;
Block hash: SHA256
Maturity: 100
PoS-II initiated after two weeks of PoW
Total coins PoW+PoS: 50 25 million Tor (anonymity network) directs Internet traffic through a worldwide network which allows to conceal a user's location. Although digitalcoins like Bitcoin can be used "anonymously", any transactions are still traceable through the blockchain. Using the Tor network makes it even more difficult for one to track any other peers on the network. We schedule to deliver the Tor wallet once PoS is initiated (about two weeks). Some initial plans
1. Coin launch & swap, we will hold back the release of source code for a few days;
2. Initiate PoS, more info will be released;
3. Wallet enables the Tor anonymity;
4. Deploying a mining mechanism additional to regular PoW/PoS mining, won't be completely new but rather based on what had in the past (with improved functioning probably, goal is to reduce power usage on the whole);
5. Deploying anonymous features;
6. More plans coming while we will make sure PoW/PoS runs properly at this moment.
Pools
http://www.hashharder.com/m7/magi
# Coin swapMagi is not deigned to be a completely new coin; rather, it is a continue of our prior Magicoin project: https://bitcointalk.org/index.php?topic=548368.0, based on Scrypt PoW. Being seeing the advent of tough time for Scrypt coin as well as lack of innovations at the launch, we started to seek creative features to be merging with this coin. We've been around since April, 2014, and simply don't want to give up any efforts we've tried; among paramount factors are the community we've maintained, for example, several facebook groups are managed by our team and people who liked Magicoin. Since we started from there, we are intent to continue from there, just this simple. Thanks to this, all of services including social network, webpage, faucets and the community will continue which will save a lot of time for us to create from the scratch.
Totally 4.5 million Magicoins were minted, as such the same amount of XMG will be used for coin swap purpose. The old Magicoin network will cease to mint new coins after block 75,000. This allows us to maintain the Magicoin network "forever"; no deadline is set for the coin swap. Ask us anytime to proceed as you wish.
We realize that there could be "a lot" coins left without swapping for whatever reasons. Over time, we will release slowly these unswapped coins to the public, completely FREE (no IPO/ICO etc), for example, giveaway to Bitcointalk users with Jr. Member and above.
I am sure you will question the stake we could gain by holding so many coins. We guarantee this would not happen (PoS disabled), because we speak TRUST on us (LOL); ok, seriously, having so many coins sitting in a wallet won't generate any interests because of the PoS-II mechanism. Details coming soon once the coin is launched. # Phase 1 - primary PoW: 5.5 million XMG to be mintedWe decide to release 5.5 million coins into public during Phase 1 through PoW mining, in addition to 4.5 million for coin swap purpose. This is to attract new miners into this new designed coin. All of the coins would not be mined in 2 days, 7 days or any short time period, but rather depending on the network difficulty. Block reward will be null 10 XMG if the network difficulty is low enough; it increases with higher difficulty, with a maximum of 500 XMG when diff = 150, then decreases exponentially with increasing difficulty. We estimate it may take a month (with full maximum reward) to years to reach the end of Phase II.
PoS will be initiated after two weeks PoW mining. According to the interest rate, the amount of coins generated will be much less than PoW during Phase 1 if PoW mining hard. # Phase 2 similar amount of PoW and PoS coins mintedThe maximum PoW block reward is 10 XMG, and the reward decreases with the difficulty (square root). This nearly generates similar amount to the PoS to be minted annually. However, the ratio of PoW over PoS is still subject to change, once we implement a mechanism to adjust PoW mining reward (worse case is to disable it) when the network sees significant hash impacts. Our intention, one of our further plan, is to gradually suppress PoW mining through GPU etc and hence to maintain the mining process more energy efficient in total and secured network. # Magi - the most energy efficient and secured systemMagi is designed to be energy efficient on the whole, "superficially" through many dynamic adjustment mechanisms. Present block generation is through hybrid PoW/PoS. The general idea is to reduce PoW mining through GPU (or probably ASIC), with the assistance of secured PoS-II.
- The PoW mining is done through M7 algo, created by the cryptonite coin, which, based on our evaluation, is more secure and energy efficient compared to X11 etc;
- A mechanism is yet to be introduced to suppress PoW while increase PoS when big miners come into the network;
- We plan to add a further mining mechanism, which is to reduce the role of GPU (or probably ASIC) in PoW mining. # PoS-IIOne of the major innovations appears to be the PoS-II feature. Yet, it is still under the test, we dedicate that it would be "rich-getting-richer" resistant. We will release relevant information later on.
# Magi is smart
We provide smart adjustment throughout the coin design, as mentioned in #1; full description will be released later.
Algo 1 core 2 cores 3 cores 4 cores
Fugue: 43 - 58 C (390KH/s 50 - 63 C (780KH/s) 54 - 68 C (1750KH/s) 65 - 71 C (1900KH/s)
Whirlpool: 44 - 60 C (144-156KH/s) 50 - 66 C (300KH/s) 54 - 69 C (420K) 61 - 74 C (590KH/s)
Groestl: 43 - 60 C (140KH/s) 50 - 68 C (270KH/s) 56 - 73 C (410K) 65 - 75 C (540KH/s)
FRESH: 42 - 60 C (89KH/s) 49 - 67 C (175KH/s) 55 - 72 C (255KH/s) 63 - 74 C (340KH/s)
NIST5: 44 - 60 C (60KH/s) 51 - 67 C (155KH/s) 56 - 72 C (230KH/s) 65 - 77 C (305KH/s)
M7: 44 - 59 C (68KH/s) 51 - 66 C (133KH/s) 56 - 71 C (200KH/s) 63 - 76 C (260KH/s)
X11: 44 - 60 C (36KH/s) 51 - 66 C (70KH/s) 56 - 72 C (110KH/s) 65 - 76 C (160KH/s)
X13: 44 - 61 C (25KH/s) 51 - 66 C (49KH/s) 55 - 71 C (73KH/s) 61 - 75 C (95KH/s)
HVC: 42 - 59 C (19KH/s) 49 - 64 C (39KH/s) 53 - 69 C (55KH/s) 62 - 72 C (88KH/s)
This ranking is roughly similar to the investigation of power usage done by cryptomining-blog: http://cryptomining-blog.com/3036-power-usage-of-geforce-gtx-750-ti-with-various-crypto-algorithms/. The Fugue is most energy efficient; Whirlpool is similarly efficient based on users' experience, while Groestl appreas to be an exception. We should notice that only one fugue256 hash function is used in Fugue, in comparison with chained (X11 etc) / parallel (M7, HVC) configuration of multiple functions. Intuitively, it is quite reasonable that a miner will stay cool if the work to be done is not that computationally hard. From this point, using one hash function should be computationally easy compared to seek target hash through multiple functions. Although without any apparent proofs, we could speak that chained algo, in which hash is generated and passed to the next one by one (i.e., one input generates the output), behaves the same way of one-hash-function algo from the security point of view. For this reason, the algo with multiple inputs should be more secured, which is exactly what the M7 and HVC do.
We aimed to construct a new hashing function, with a target of memory hard at the beginning. This obviously won't be energy efficient. Implementing a new hash algo by simply adding more functions to be X18 etc whatever is not good to the coin at all. As a result we turn into M7, which just satisfies what we need. Read cryptonite wiki for more info: http://cryptonite.info/wiki/index.php?title=M7_PoW.
Most likely ASIC would come to any algo created. In addition to this fact, running GPU miners more or less consume a lot energies on the whole. Reducing the tempt of GPU mining will be one of our concerns as to the future plan. TranslationDutch (by 111magic): https://bitcointalk.org/index.php?topic=740276.0Indonesian (by feryjhie): https://bitcointalk.org/index.php?topic=760497.0Portugese ( by libivan) : https://bitcointalk.org/index.php?topic=763774Chinese (by Baby222) : https://bitcointalk.org/index.php?topic=763187.0Bounties#Contact me about the bounties for translation of the ANN thread |
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Quelle est la récompense pour la traduction ?
Je vous ai envoyé un message |
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Hallo eine Nachricht von mir.
Für diejenigen, die aus dem Englischen ins Deutsche zu übersetzen, um Wünsche geben wir eine Belohnung von 500XMG.
Wenn Sie wollen, schicken Sie mir eine Nachricht.
Wert von XMG wird zwischen $ 0,5 bis $ 5 erwartet.
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Will somebody please help us with the translation of English into French. We want to ensure that everyone can read about Magicoin in their own languageMagicoin intègre des innovations comme aucun autre altcoin a actuellement Nous avons besoin d'un interprète. Visitez cette page s'il vous plaît https://bitcointalk.org/index.php?topic=735170.0Update-------------- We now have the following translations done. Portuguese, Dutch, Chinese and Indonesian. We are working on Turkish and Italian translations. We are looking for someone who wants to do the french translation. If you want to do this please send me a message. Testnethttps://bitcointalk.org/index.php?topic=735170.msg8427923#msg842792308/25 updates: cpu&gpu miners ported; cudaminer needs test though: https://bitcointalk.org/index.php?topic=735170.msg8533387#msg8533387https://github.com/magi-project08/23 updates: CPU miner is ready for 2nd test: https://bitcointalk.org/index.php?topic=735170.msg8499202#msg849920208/21 updates: we got an issue, will fix and run the testnet again: https://bitcointalk.org/index.php?topic=735170.msg8463488#msg846348808/20 updates (PoS-II): https://bitcointalk.org/index.php?topic=735170.msg8453963#msg8453963
[Testnet] XMG wallets for windows and linux downloads:
http://cryptomagic.com/files/magi-release/To run the wallet, testnet mode must be set. This can be done through the conf file: magi.conf. The default folder having this file is: %appdata%\magi (windows) or ~/.magi (linux) (sorry we don't have the mac wallet yet). magi.conf should contain this line: You may also need: daemon=1
server=1
rpcallowip=127.0.0.1
rpcuser=rpcuser
rpcpassword=rpcpass Once conf file is given in the right place, the wallet should be running on the testnet. Go to menu Help -> Debug window -> Console, run setgenerate true 1 to mine coins ("1" is for 1 cpu core). We will update standalone miner asap. Please request wallets for the operating systems not available yet, I will compile that, going forward, to assure all wallets available at the launch.
XMG - Coin of The Magi Freenode IRC: #magiLaunch date: August 15, 8:00 PM EST (delayed)https://bitcointalk.org/index.php?topic=735170.msg8373576#msg8373576(Hybrid PoW/PoS-II) Proof of WokHash: M7;
Block time: 3 minutes;
Block reward: - difficulty dependent; maximum 500 XMG for the 1st phase (see below for details);
- 7% annual reduction in the 2nd phaseProof of Stake-IIIntroduce a new staking mechanism: PoS-II
Minimum stake coin age : 2 hours
Dynamic coin age: maximum 60 days, subject to change (more info to be released)
The new system designed resistant to "rich-getting-richer"
Dynamic annual interest: depends on network weight, maximum 5% (5% reduction per year)
Block time: 1.5 minutes;
Block hash: SHA256
Maturity: 100
PoS-II initiated after two weeks of PoW
Total coins PoW+PoS: 50 25 million Tor (anonymity network) directs Internet traffic through a worldwide network which allows to conceal a user's location. Although digitalcoins like Bitcoin can be used "anonymously", any transactions are still traceable through the blockchain. Using the Tor network makes it even more difficult for one to track any other peers on the network. We schedule to deliver the Tor wallet once PoS is initiated (about two weeks). Some initial plans
1. Coin launch & swap, we will hold back the release of source code for a few days;
2. Initiate PoS, more info will be released;
3. Wallet enables the Tor anonymity;
4. Deploying a mining mechanism additional to regular PoW/PoS mining, won't be completely new but rather based on what had in the past (with improved functioning probably, goal is to reduce power usage on the whole);
5. Deploying anonymous features;
6. More plans coming while we will make sure PoW/PoS runs properly at this moment.
Pools
http://www.hashharder.com/m7/magi
# Coin swapMagi is not deigned to be a completely new coin; rather, it is a continue of our prior Magicoin project: https://bitcointalk.org/index.php?topic=548368.0, based on Scrypt PoW. Being seeing the advent of tough time for Scrypt coin as well as lack of innovations at the launch, we started to seek creative features to be merging with this coin. We've been around since April, 2014, and simply don't want to give up any efforts we've tried; among paramount factors are the community we've maintained, for example, several facebook groups are managed by our team and people who liked Magicoin. Since we started from there, we are intent to continue from there, just this simple. Thanks to this, all of services including social network, webpage, faucets and the community will continue which will save a lot of time for us to create from the scratch.
Totally 4.5 million Magicoins were minted, as such the same amount of XMG will be used for coin swap purpose. The old Magicoin network will cease to mint new coins after block 75,000. This allows us to maintain the Magicoin network "forever"; no deadline is set for the coin swap. Ask us anytime to proceed as you wish.
We realize that there could be "a lot" coins left without swapping for whatever reasons. Over time, we will release slowly these unswapped coins to the public, completely FREE (no IPO/ICO etc), for example, giveaway to Bitcointalk users with Jr. Member and above.
I am sure you will question the stake we could gain by holding so many coins. We guarantee this would not happen (PoS disabled), because we speak TRUST on us (LOL); ok, seriously, having so many coins sitting in a wallet won't generate any interests because of the PoS-II mechanism. Details coming soon once the coin is launched. # Phase 1 - primary PoW: 5.5 million XMG to be mintedWe decide to release 5.5 million coins into public during Phase 1 through PoW mining, in addition to 4.5 million for coin swap purpose. This is to attract new miners into this new designed coin. All of the coins would not be mined in 2 days, 7 days or any short time period, but rather depending on the network difficulty. Block reward will be null 10 XMG if the network difficulty is low enough; it increases with higher difficulty, with a maximum of 500 XMG when diff = 150, then decreases exponentially with increasing difficulty. We estimate it may take a month (with full maximum reward) to years to reach the end of Phase II.
PoS will be initiated after two weeks PoW mining. According to the interest rate, the amount of coins generated will be much less than PoW during Phase 1 if PoW mining hard. # Phase 2 similar amount of PoW and PoS coins mintedThe maximum PoW block reward is 10 XMG, and the reward decreases with the difficulty (square root). This nearly generates similar amount to the PoS to be minted annually. However, the ratio of PoW over PoS is still subject to change, once we implement a mechanism to adjust PoW mining reward (worse case is to disable it) when the network sees significant hash impacts. Our intention, one of our further plan, is to gradually suppress PoW mining through GPU etc and hence to maintain the mining process more energy efficient in total and secured network. # Magi - the most energy efficient and secured systemMagi is designed to be energy efficient on the whole, "superficially" through many dynamic adjustment mechanisms. Present block generation is through hybrid PoW/PoS. The general idea is to reduce PoW mining through GPU (or probably ASIC), with the assistance of secured PoS-II.
- The PoW mining is done through M7 algo, created by the cryptonite coin, which, based on our evaluation, is more secure and energy efficient compared to X11 etc;
- A mechanism is yet to be introduced to suppress PoW while increase PoS when big miners come into the network;
- We plan to add a further mining mechanism, which is to reduce the role of GPU (or probably ASIC) in PoW mining. # PoS-IIOne of the major innovations appears to be the PoS-II feature. Yet, it is still under the test, we dedicate that it would be "rich-getting-richer" resistant. We will release relevant information later on.
# Magi is smart
We provide smart adjustment throughout the coin design, as mentioned in #1; full description will be released later.
Algo 1 core 2 cores 3 cores 4 cores
Fugue: 43 - 58 C (390KH/s 50 - 63 C (780KH/s) 54 - 68 C (1750KH/s) 65 - 71 C (1900KH/s)
Whirlpool: 44 - 60 C (144-156KH/s) 50 - 66 C (300KH/s) 54 - 69 C (420K) 61 - 74 C (590KH/s)
Groestl: 43 - 60 C (140KH/s) 50 - 68 C (270KH/s) 56 - 73 C (410K) 65 - 75 C (540KH/s)
FRESH: 42 - 60 C (89KH/s) 49 - 67 C (175KH/s) 55 - 72 C (255KH/s) 63 - 74 C (340KH/s)
NIST5: 44 - 60 C (60KH/s) 51 - 67 C (155KH/s) 56 - 72 C (230KH/s) 65 - 77 C (305KH/s)
M7: 44 - 59 C (68KH/s) 51 - 66 C (133KH/s) 56 - 71 C (200KH/s) 63 - 76 C (260KH/s)
X11: 44 - 60 C (36KH/s) 51 - 66 C (70KH/s) 56 - 72 C (110KH/s) 65 - 76 C (160KH/s)
X13: 44 - 61 C (25KH/s) 51 - 66 C (49KH/s) 55 - 71 C (73KH/s) 61 - 75 C (95KH/s)
HVC: 42 - 59 C (19KH/s) 49 - 64 C (39KH/s) 53 - 69 C (55KH/s) 62 - 72 C (88KH/s)
This ranking is roughly similar to the investigation of power usage done by cryptomining-blog: http://cryptomining-blog.com/3036-power-usage-of-geforce-gtx-750-ti-with-various-crypto-algorithms/. The Fugue is most energy efficient; Whirlpool is similarly efficient based on users' experience, while Groestl appreas to be an exception. We should notice that only one fugue256 hash function is used in Fugue, in comparison with chained (X11 etc) / parallel (M7, HVC) configuration of multiple functions. Intuitively, it is quite reasonable that a miner will stay cool if the work to be done is not that computationally hard. From this point, using one hash function should be computationally easy compared to seek target hash through multiple functions. Although without any apparent proofs, we could speak that chained algo, in which hash is generated and passed to the next one by one (i.e., one input generates the output), behaves the same way of one-hash-function algo from the security point of view. For this reason, the algo with multiple inputs should be more secured, which is exactly what the M7 and HVC do.
We aimed to construct a new hashing function, with a target of memory hard at the beginning. This obviously won't be energy efficient. Implementing a new hash algo by simply adding more functions to be X18 etc whatever is not good to the coin at all. As a result we turn into M7, which just satisfies what we need. Read cryptonite wiki for more info: http://cryptonite.info/wiki/index.php?title=M7_PoW.
Most likely ASIC would come to any algo created. In addition to this fact, running GPU miners more or less consume a lot energies on the whole. Reducing the tempt of GPU mining will be one of our concerns as to the future plan. TranslationDutch (by 111magic): https://bitcointalk.org/index.php?topic=740276.0Indonesian (by feryjhie): https://bitcointalk.org/index.php?topic=760497.0Portugese ( by libivan) : https://bitcointalk.org/index.php?topic=763774Chinese (by Baby222) : https://bitcointalk.org/index.php?topic=763187.0Bounties#Contact me about the bounties for translation of the ANN thread
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