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581  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: September 14, 2015, 07:43:26 PM
I don't know why (well, I have an idea) but these past days, my weight is going down. 3 days ago, it was at around 200, but now it is at around 130. It is goign down since the message for the old checkpoints appeared. Maybe there's a link (that's my idea). Anyone can help me  Undecided ?

I guess the coins have been staying there for enough time beyond the optimum point that basically leads to reduced weight.

So I have to send them to me ?

Yep, and then let's see if you can gain some weights in next few days.
582  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: September 14, 2015, 07:30:44 PM
I don't know why (well, I have an idea) but these past days, my weight is going down. 3 days ago, it was at around 200, but now it is at around 130. It is goign down since the message for the old checkpoints appeared. Maybe there's a link (that's my idea). Anyone can help me  Undecided ?

I guess the coins have been staying there for enough time beyond the optimum point that basically leads to reduced weight.
583  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: September 14, 2015, 07:28:38 PM
Same Error:WARNING: Checkpoint is too old. Wait for block chain to download, or notify developers.

Maybe it's because the wallet has a bug. I can still receive coins, though.  Smiley
Ok. I think Joe noticed the posts about this subject.
He will get back on this. Good thing its only a warning and all things are working fine! Smiley


If Joe ends up being busy, let me know what the checkpoint block(s) should be and I can add them. PMs or Github messages preferred. (Someone else will still have to accept the pull requests, though.)

Thanks mate, did being busy but would be able to get updates, and will PM if get buried again. thx.
584  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: September 10, 2015, 10:44:05 PM
Nice magi will have his first year. Keep it up guys Grin

Great to see you're around, will talk things with you later on; almost buried right now.  Cheesy
585  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: September 10, 2015, 10:41:30 PM
First birthday for a great coin, definitely one of the best I've seen.

Yeah it's about a year, time goes by so fast; let's observe this greatness thing.  Cheesy
586  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: September 10, 2015, 10:37:20 PM
Invitation:for everyone!!! Grin
Special for the First Magi Birthday at 15-september 2015, there are some nice developments.
One is the Magi birthday lottery.
Join the lottery with 1, 2 or 3 tickets and have the chance to win the Jackpot.
1 ticket will cost you 1 XMG.
Enjoy! Smiley
http://lotto.ddns.net/magihappy

Liked much the pictures, and this is too great too, good job mate, nothing else could I say how much care of you.
587  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: September 04, 2015, 02:43:57 AM
this show 1 block per day, unless it's wrong

14:14:38

getminingbykhps 10


14:14:38

{
"hashrate (kh/s)" : 10.00000000,
"difficulty" : 2.48986694,
"difficulty(aver)" : 1.83127964,
"blockvalue" : 14.78533282,
"mining (XMG)" : {
"1 hour" : 0.06767357,
"1 day" : 1.62416564,
"1 week" : 11.36915949
}
}


This actually 1.62416564 coins (in XMG) a day by average.
588  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: September 03, 2015, 01:37:33 AM
Hi all.
I had an idea and just like to share it here.
The reason: We have to make a difference together.
There are so many different coins that new people don't even know with one they need to pick.

What if some unique coins will have a new exchange.
The community from each coin will help promoting this exchange.
Means if you add some unique coins with a big community there will be a lot of people working together promoting this exchange.
The difference is the promotions: for example you have 10 different communities, all of which promote the same exchange and not just themselves.
Then a huge amount of people that work together to promote that specific exchange.

I like to hear your opinion about this idea!
Good or bad you are welcome to share it here.


With any exchange that is centralized there are always issues with the exchange closing or being a security issue as a potential target for hackers or governments.  It adds visibility to the coin though and there is not much to do with them besides trading at this point, but coins getting lost on an exchange is a real risk in particular for smaller exchanges just getting started.  It seems like things are moving towards decentralized exchanges.

There are some new coin technologies that could allow the exchange of coins through a block chain.  Any thoughts on joining something like SuperNET?  Counterparty, Ethereum and perhaps someday Tau-Chain could be potential places where XMG could be traded in a decentralized way.  Any thoughts on how hard this would be to do and whether it would be of interest to look into?

I don't know that much about it but thought about trying to setup an Ethereum contract as a experiment to directly trade something like XMG for HYP but I'm not sure how much interest there is in this (or how hard it would be)

I guess no plan yet for SuperNET and things like that, haven't been that far yet, but I guess those exchanges launched with desired / valid goals always look ideal and the reality would misrepresent what's supposed to be, whilst there are so many coins out there, most of which would squeeze into a small room. It's great having something like btc-e, but growing up is a pain.
589  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: September 03, 2015, 01:28:33 AM
Are there any plans for XMG to become verified market at Bittrex?
https://bittrex.zendesk.com/hc/en-us/articles/203692234--Draft-What-is-a-Verified-Market-

Did not look at that. But M-team will check it out.
I don't understand whats the benefit for Magi for doing that at the moment. Maybe you can explain a little about it here.

You can read details under the upper link.
Verified Market:
A Verified Market is a market whose Market currency has completed a proof-of-developer by a developer verification service such as ProofofDev.com and has traded on the Bittrex site for over 120 days.

For example, BTC-URO trades UroCoin which has a PoD score of 4 and has been on Bittrex since May 15th, 2014.  Source: http://proofofdev.com/uro-urocoin/

We do not warrant any developer or coin verification scores but provide them as a tool to help traders assess the level of risk they are willing to take.


Is DEV thinking about it?

Think Magi can share some good news about this soon! Wink

Submitted info and see how they'd say, would go through proofofdev when necessary.
590  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: September 03, 2015, 01:23:32 AM

it deepens all on timing
for now its much better magi stay cheap
u have still a very high coin rollout far away of planed slowdown of coin rollout and the desired amount of existing XMG
so its not high price time its fill pockets time

midterm a marketcap on top 100 (page1 coinmarketcap) is needed to get recognition

only miners want now a high sellprice now

instaselling miners are parasites what make em happy most likely not healthy for the host coin

thats why DMD reduced POW coinrollout a lot and focused on POS coinrollout

u can still have a non hyperinflation coin rollout with clever designed constant decreasing inflation coin rollout even if mostly done on POS

POS rewards investors and holder of coins
POW miners often follow the locust swarm plan of being nomads and leave when fields are empty

I'd like to see it being underground.  Grin
591  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: August 30, 2015, 03:48:30 PM
Bluetrade is back online! Happy traiding!

Thanks for posting that. Unfortunately I have 226 XMG remaining on Bittrex, not sure when they will be back though.
Me neither. Bittrex always take more time for maintenance! I will keep my eyes on it!

Monero wallet is also disabled without a reason "Wallet maintenance". We'll have to wait for official reply.

Don't worry, guess some maintenances are needed, imagine they have that many coins/wallets to take care of. 

Nice to hear that. Well, I will just go ahead and stake them a bit too.

I've been keeping all of my machines idle for magi alone plus few vps since the beginning, simply running ever...
592  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: August 30, 2015, 03:33:29 PM
Bluetrade is back online! Happy traiding!

Thanks for posting that. Unfortunately I have 226 XMG remaining on Bittrex, not sure when they will be back though.
Me neither. Bittrex always take more time for maintenance! I will keep my eyes on it!

Monero wallet is also disabled without a reason "Wallet maintenance". We'll have to wait for official reply.

Don't worry, guess some maintenances are needed, imagine they have that many coins/wallets to take care of. 
593  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: August 28, 2015, 09:38:21 PM
Hey guys,

I will be doing some database upgrades on Suprnova's XMG pool https://xmg.suprnova.cc over the weekend because its one of the oldest suprnova pools and I have some performance upgrades.

I've got backups and everything and its just a "normal" upgrade so nothing should go wrong - but you know how it is, the easiest things sometimes fail and some data could get lost.

So just to be safe, it would be cool if you could withdraw all your remaining balances from the pool.

No breaks or downtimes will occur - you can safely mine own, its just a backend thing with the shares &  shares archive table.

Thanks !

Thanks for updates.
594  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: August 28, 2015, 09:37:57 PM

It's very cool, like it much. Smiley 
595  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: August 21, 2015, 04:44:30 AM
Awesome news: Magi app is in development.
Release October 2015!



BTW  Magi added logo and website to the picture! Wink
Special thanks to Kondiomir!
Appriciate the things you do kondiomir!
Well done!

Looking very nice!
596  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: August 16, 2015, 05:45:10 AM
Is the [Coin-age] = [blocksize] * [age] ?  Well i don't know too much about coding, but could you add a line like:  IF [PoS-block-reward] < 0.1 AND [Coin-age] < 200 THEN [PoS-block-reward]=[PoS-block-reward]*4

This might not be exactly right, but if a 100 XMG block stakes in under two days it would get a higher reward.

Increasing the block reward for small blocks will definitely encourage big holders to divide their coins into small pieces.  I think that this will be a good thing for the long term.  Suppose someone has 10,000 XMG and divide it into 100 XMG blocks to maximize stake earnings.  They find a PoS block and get a 0.1 XMG reward, instead of the 0.025 XMG reward that they would currently get.  The amount of their total coins that staked is 1%.  After the PoS block matures, to go on and sell their total balance of 10,000.1 they would have to spend the weight of the 99% of their coins that have not yet staked.  The extra 0.075 XMG reward from the single block is actually less of a total reward then what would be earned if all 10,000 XMG staked all at once at the lower rate.  I think that smaller blocks getting a higher reward will therefore discourage dumping, because it creates an opportunity cost of lost PoS reward for selling coins with a higher coin-age.
fragilefungi, I guess there are some points deserving in-depth consideration, sorry for delayed response. The idea of rewarding small stakers is very much appealing and coincident with magi's goal, while the barrier to overcome is how we avoid big stakers. I believed this is already done in PoS-II, as people stake with 10,000 XMG won't get benefits compared to staking with 1000 XMG. This is mostly considered from security point of view.

Speaking of the present focus, the stake shares, "Increasing the block reward for small blocks will definitely encourage big holders to divide their coins into small pieces", that actually means we aren't benefiting small stakers. One can launch 100 wallets with 100 XMG in each, and he can only make transactions within a few wallets without affecting the rest of others, so the affected wallets regarding PoS staking are actually not throughout, but just a few. So the big staker is still benefitting, point me out if I missed the point in your post.

 "IF [PoS-block-reward] < 0.1 AND [Coin-age] < 200 THEN [PoS-block-reward]=[PoS-block-reward]*4" is doable and would be interesting; however, we may need some careful thinkings to plugin some tricks -- extra efforts, that small stakering are willing to take. I can't talk this approach clearly as I don't have clear idea yet, but I guess it won't be straightforward to embed the above your mentioned equation into the code, or the big stakes will be getting the same benefits. But that seems something interesting I have to take a deep thinking along that.

[Coin-age] = [number of coins] x [effective stake days], [effective stake days] is a function of actual stake days and number of coins in PoS-II. [Coin-age] is maximized at certain conditions with a middle size of coins in stake, and stake for a few days less than a week. So the current scheme is actually encouraging small stakers. In other words, people won't be able to get significant high stakes in any cases unlike the conventional PoS, that's the fair point. And of course, your equation is doable, but I have to give it a more serious thinking. My primary concern is that we have to be careful about increasing interest that leads to benefits throughout (it would be very much appealing if benefiting small stakers ONLY). Also I deeply believe that when we increase interest, people would be willing to accumulation more than selling. However, I guess there are some basic lines to hold, and making people commit into accumulating rather than selling because of a desire to stake for more coins is a less solid reason.
597  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: August 16, 2015, 04:59:28 AM
if i sell all my magi coin the price will be 0.00000014.... buy support is the only problem

DO IT!!!! I will start panic selling other coins to buy XMG....you won't get it under 1000 sats  Cool

I will surely take over whatever I am able to if that is the case.  Grin
598  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: August 16, 2015, 04:57:03 AM
...

In my view, PoW & PoS is most secure, but feel free to discuss, I might be wrong.

...

This is unclear to me, in general I agree, however, I've lost value on PoW/PoS coins that were abandoned from hacking and technical issues.  Doing PoW and PoS adds additional complexity that can lead to problems.  (Anyone else lost value on Cinnamoncoin?) Sad Additionally, PoW mining seems to cause more issues with block chain forks than PoS in my experience.

Pure PoS coins do have the weakness you pointed out but I believe there are workarounds to fix many of the issues such as a block reward cap and limits on coin weight.  I think the barrier to entry where people are required to purchase coins to get started is perhaps the biggest drawback but based on the giving nature of this community so far, I doubt that will become an issue.

Today August 13 is earth overshoot day where humanity's annual demand for goods and services exceeds what the Earth's ecosystems can renew in a year.  My guess is that a pure PoS coin is the best way to move value around globe based purely on environmental concerns, with XMG's current scheme a close second.  (It seems better than moving gold around, based on the recent spill of toxic waste into the Colorado rivers) Wink

The way things are setup now works very well and I have faith that your capable of releasing another such update based on PoW/PoS technology that functions correctly as well if that ends up being done - so whatever is best shall be.  Smiley

Sometimes I have the same feeling as you, as we know there are numerous coins out there. Smiley Thanks mate, I do hope any more comments come up on the point of PoW/PoS.
599  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Magi |1st PoS-II | 1st PoM | Fair Distr |Tor| M7M CPU only [HARDFORK] on: August 14, 2015, 04:17:12 PM
Joe could you check this? Link is from old website.
Yeah, will check this.
600  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XMG] Coin Magi | CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay] on: August 14, 2015, 04:14:13 PM
I think that is probably the best option.  I don't think huge changes are needed for PoS-III, but only improve the rate for small stakers.  Earning 0.01 XMG by staking 1000 XMG is a small reward, and is less than a PoW block would be to confirm the same number of transactions.  PoS rewards being too high defiantly cause inflation and the price to drop, but so can the PoW reward being too high.  What is also important is market perception.  The stake rate should be high enough that people think that the rewards are worth it so they have the desire to buy more, but not so high that price stability is a concern.

I don't think that increasing the reward on small blocks will increase inflation, mainly because it will encourage people to split their blocks smaller and stake with a lot of small blocks.  This will create a liquidity trap because all the blocks will not stake and mature at the same time.  If someone with lots of small blocks wants to sell any significant amount, they will have to destroy weight and spend blocks that have not yet staked, which will keep actual rewards earned much less then if they would have not sold.  I think raising the stake rate for small blocks will encourage more small miners to keep what they mine, and could actually increase buy support because more people will want to buy and keep small amounts in their personal wallets.

You're right inflation won't be a big concern compared to other things affecting the price. People are actually getting the same type of blocks with the reward calculated in terms of:
Code:
[PoS-block-reward] = [Coin-age] x APR / [days in a year]
What we can play around are the coin age and APR; based on that, there would be no good solutions to "improve the rate for small stakers". One way to have "big" or "small" block is to apply high APR for small stake holders and low APR for big holders; however, big holders can divide their holding into small pieces, say launching 10 wallets instead of all in one wallets, and appear to be small stakers. So it won't be a practical solution. The PoS-II deals with the coin age; one has to maintain a proper number of coins to maximize [Coin-age], so does the [PoS-block-reward]; this is an extra effort, and I believe we can do some thing more along this point.
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