Any update on the pos switch? Can we expect a testnet This weekend?  And also what are the planned specifications? A higher POS interest rate then 10% is in my opinion not very healthy (best rate i see is between 5-10%). I will make a post today about PoS (I'm in EST time). The interest will be 8% as agreed priorly. I will post details. Stay tuned. |
|
|
|
Btw, this is what we're using now.  The network difficulty here is not the actual difficulty, but a kind of value according to a complex computation by evaluating most recent blocks. |
|
|
|
Wouldn't a malicious actor with a botnet be able to raise the hash rate so far that the block reward stays very low for an extended period of time?
Sure - and with that amount of hash, as long as the minimum block reward isn't too small, you may still profit. I don't think profit would be a concern in this case, and actually I don't think it's profitable. malicious "attack-like" botnet which keep the block reward stay low will be a concern, however none will benefit from this kind of "attack". Note what I said - as long as the min block reward isn't too small. For every minimum block reward, there's a cost per kh that makes it profitable at that reward - you just want to make the cost per kh required unreasonably small. It really depends, however, you can say one with zero costs is always profiting, then I won't be able to argue. The issue is all about the amout of block reward, how profitable it is, and at what level the block reward is too small (very much depends on the market price though). As I explain a few pages back, block reward can go all the way down to mining fee, 0.0001; the distance between not much small and very small won't be huge. Oh, I missed that post - didn't know block reward could go down to fee. In that case, there's no reasonable cost per kh that makes the attack worth it. Yep, however the real situation is more complicated, some miners leaving will get the block reward back, that very much depends on the user base of generic miners too. Speaking of another side, if these big miners are malicious who just don't care, that would be a little bit tough. |
|
|
|
Wouldn't a malicious actor with a botnet be able to raise the hash rate so far that the block reward stays very low for an extended period of time?
Sure - and with that amount of hash, as long as the minimum block reward isn't too small, you may still profit. I don't think profit would be a concern in this case, and actually I don't think it's profitable. malicious "attack-like" botnet which keep the block reward stay low will be a concern, however none will benefit from this kind of "attack". Note what I said - as long as the min block reward isn't too small. For every minimum block reward, there's a cost per kh that makes it profitable at that reward - you just want to make the cost per kh required unreasonably small. It really depends, however, you can say one with zero costs is always profiting, then I won't be able to argue. The issue is all about the amout of block reward, how profitable it is, and at what level the block reward is too small (very much depends on the market price though). As I explained a few pages back, block reward can go all the way down to mining fee, 0.0001; the distance between not much small and very small won't be huge. |
|
|
|
Mine isnt stacking then because I have 100 XMG and I only get like 0.02 now and again interest.
Yes, it will take time back to the staking state.
I get around 1 XMG per 25.000 XMG staking per day.
so if I have 2500 xmg, I will get 100 per day ?? i would love that the less you have the more you get  jk I'd love this too, however it's not about economy but about fun in my view. People having more coins should be advantageous to get more interests but they'll need strategy to gain; it's also impossible to resist people getting more interest frankly. |
|
|
|
Wouldn't a malicious actor with a botnet be able to raise the hash rate so far that the block reward stays very low for an extended period of time?
Sure - and with that amount of hash, as long as the minimum block reward isn't too small, you may still profit. I don't think profit would be a concern in this case, and actually I don't think it's profitable. malicious "attack-like" botnet which keep the block reward stay low will be a concern, however none will benefit from this kind of "attack". |
|
|
|
I got just enough over a coin today. Is That normal for todays difficulty? Right now i am mining in a pool. For hashrate see above.
total hashrate is up from yesterdays 20000 to 35000 to 55000 KH/s today Take a look at http://xmg.makejar.com/xmg-per-day, total daily payout is not bad and steady in past few days. |
|
|
|
I have 94 coins 
I have earned all of them from pool mining and I have not sent any coin to others. take a look.
And please tell me what I should do to stake correctly. And how much POS reward I will get ? Let me get to this point, will give some details and also answer prior question raised by another person. |
|
|
|
My wallet says,
My weight is 68,
Network weight is 655132.
Expected time to earn rewards 10 days....
What does it mean? I have to keep my pc open for 10 days without any interruption for 10 days to get reward ?? And how much I will get after 10 days ?? Please help me
The expected time is very coarse. It'll look very different between at the very beginning and after staking few hours. How many coins in your wallet, and how much time coins sitting in the wallet for staking? It's not necessary to keep the wallet open to get the rewards. Let's say we know expecting reward coming in tomorrow, you can just open it up by that time; but use cautious as PoS-II is very different from general PoS. You can always get PoS reward in a general PoS staking, but it depends for PoS-II. I get around 1 XMG per 25.000 XMG staking per day. Sounds right to me. |
|
|
|
My wallet says,
My weight is 68,
Network weight is 655132.
Expected time to earn rewards 10 days....
What does it mean? I have to keep my pc open for 10 days without any interruption for 10 days to get reward ?? And how much I will get after 10 days ?? Please help me
The expected time is very coarse. It'll look very different between at the very beginning and after staking few hours. How many coins in your wallet, and how much time coins sitting in the wallet for staking? It's not necessary to keep the wallet open to get the rewards. Let's say we know expecting reward coming in tomorrow, you can just open it up by that time; but use cautious as PoS-II is very different from general PoS. You can always get PoS reward in a general PoS staking, but it depends for PoS-II. |
|
|
|
Any way to check via the command line? Didn't see anything in the header files.
USE: getinfo, and locate a line "expected time ...", notice the expected time is only an estimate. There is no "expected time..." line in the getinfo output... I think Joe meant to say use getmininginfo  Thanks Spexx, should be getmininginfo --> "Expected PoS ..." |
|
|
|
Thank You, if/when you have time, its really not necesary if its complex and it will take you much time. I am checking that pool last few days once a day "We are currently not accepting new user registrations" i tought it was official pool and that you need invite or something nevermind then. I'll check with Historical, he is running this pool. |
|
|
|
@others, let us know if you have any idea
Of course I have got some ideas Let's talk when you have some time. Didn't talk to you about as you said you have some stuff to do. No problem mate, we will discuss. |
|
|
|
so how to calculate reward of xmg, you are dev right how to get invitation to official magi pool or when will registrations open
It's kinda with complex math calculation, if you really want to see how calculation is done, I can post that. are you talking this pool? http://www.magipool.info. (looks like it's down, I'll check with operator) Any way to check via the command line? Didn't see anything in the header files.
USE: getinfo, and locate a line "expected time ...", notice the expected time is only an estimate. |
|
|
|
So If I understand correctly, the higher the hashrate the lower the block reward and the higher the network weight the higher the interest for POS?
This is right. |
|
|
|
Thanks Joe,
I had the last few weeks the pressure at work.
The situation is better now, so I could share the idea that I discussed with you and developers some time ago...
Idea is to build some kind of "Magi price stabilisation project". That's not my idea, I found it somewhere and adapt it..
The project is based on BTC cloud mining (or something like that - LTC, X11). Daily / weekly BTC income from BTC cloud services will be used to purchase XMG on exchanges and to send them to participants (investors) at particular dividend.
But unlike the usual purchases at the sale price on exchange, daily/weekly earned BTC will be used to make buy orders with buy price. There is no instantly buying of XMG at sale price.
And here come some MagiC:
- long-term, BTC income from cloud service is long term, 3, 6, 12, 60 months.. So once invested some BTC in cloud mining provides long term receiving of XMG..
- long-term, "Price stabilisation" builds "buy wall", so Magi price can't drop if someone drop huge amount of XMG on exchange. Participants receive their XMG at buy price..
- long-term, if price go up, and buy orders are not executed, buy orders price will be moved slightly up with the price, that's what is goal of project. Increase of XMG price is what we all want !!
Normally, that is only my idea. Details will be adapted to what the community wants.
There are many BTC cloud mining services, some are good some not, some profitable some not, some reliable some untrustworthy, help and experiences of anyone are welcome..
If there is enough interest, I can start with that...
Historical, thanks for the details posted. I was thinking of this but felt not yet the time, either way it'll be good to see people's suggestions. I was 90% on this project as soon as you proposed the idea some time ago. If there is insufficient amout of BTC invested by the community, I / the magi team will try to raise up the amount. In other means, even without enough support from people, we will try to make it. We can decide how these coins are being spent in this case later on (e.g., team funds if possible). Ideally it will be very good being a project of the community. To me this is absolutely a nice one, and I'd push it forward in any form. I will be adding this as an official project; of course, this project can't be going without you. So I am sure we will have you in a reasonable long period, but let's arrange everything comfortably; I don't mind how much time taken to launch it . Basically my question is roughly how much BTC you have in mind in order to launch it. Other than that, like Marcel mentioned, we have to find stable sources which allow mining service at least in one year long. Joe mentioned this idea. In general, it's not a bad one. But I have doubts if cloud mining in the current situation really makes sense. BTC price is low and many established cloud mining companies are in trouble, probably need to suspend their mining contracts when price goes < $200 again.
In my opinion it will make sense when the price reaches some level of stability at $300 or even higher.
This is a good question; low BTC price also means the right moment for mining though, provided that we can find provider who have good reputation and allow us mining sufficiently long time. We may look into altcoin mining too. Options other than cloud mining might be buying mining rig and get it hosted somewhere, but this could never be an easy task. Others, ideas? I really like this idea, this could even out the big fluctuations and boost XMG up a bit. If you go the route of buying a mining rig, I could host it for you providing it doesn't draw 20A of current If and when you go on let me know if I can be of any assistance. Regards Thanks for the volunteer, sent PM. @others, let us know if you have any idea; will you invest BTC and get XMG as a return if we launch this project? |
|
|
|
Thanks Joe,
I had the last few weeks the pressure at work.
The situation is better now, so I could share the idea that I discussed with you and developers some time ago...
Idea is to build some kind of "Magi price stabilisation project". That's not my idea, I found it somewhere and adapt it..
The project is based on BTC cloud mining (or something like that - LTC, X11). Daily / weekly BTC income from BTC cloud services will be used to purchase XMG on exchanges and to send them to participants (investors) at particular dividend.
But unlike the usual purchases at the sale price on exchange, daily/weekly earned BTC will be used to make buy orders with buy price. There is no instantly buying of XMG at sale price.
And here come some MagiC:
- long-term, BTC income from cloud service is long term, 3, 6, 12, 60 months.. So once invested some BTC in cloud mining provides long term receiving of XMG..
- long-term, "Price stabilisation" builds "buy wall", so Magi price can't drop if someone drop huge amount of XMG on exchange. Participants receive their XMG at buy price..
- long-term, if price go up, and buy orders are not executed, buy orders price will be moved slightly up with the price, that's what is goal of project. Increase of XMG price is what we all want !!
Normally, that is only my idea. Details will be adapted to what the community wants.
There are many BTC cloud mining services, some are good some not, some profitable some not, some reliable some untrustworthy, help and experiences of anyone are welcome..
If there is enough interest, I can start with that...
Historical, thanks for the details posted. I was thinking of this but felt not yet the time, either way it'll be good to see people's suggestions. I was 90% on this project as soon as you proposed the idea some time ago. If there is insufficient amout of BTC invested by the community, I / the magi team will try to raise up the amount. In other means, even without enough support from people, we will try to make it. We can decide how these coins are being spent in this case later on (e.g., team funds if possible). Ideally it will be very good being a project of the community. To me this is absolutely a nice one, and I'd push it forward in any form. I will be adding this as an official project; of course, this project can't be going without you. So I am sure we will have you in a reasonable long period, but let's arrange everything comfortably; I don't mind how much time taken to launch it . Basically my question is roughly how much BTC you have in mind in order to launch it. Other than that, like Marcel mentioned, we have to find stable sources which allow mining service at least in one year long. Joe mentioned this idea. In general, it's not a bad one. But I have doubts if cloud mining in the current situation really makes sense. BTC price is low and many established cloud mining companies are in trouble, probably need to suspend their mining contracts when price goes < $200 again.
In my opinion it will make sense when the price reaches some level of stability at $300 or even higher.
This is a good question; low BTC price also means the right moment for mining though, provided that we can find provider who have good reputation and allow us mining sufficiently long time. We may look into altcoin mining too. Options other than cloud mining might be buying mining rig and get it hosted somewhere, but this could never be an easy task. Others, ideas? |
|
|
|
Dev,any development plan in 2015?
Any development plan? Although I'm not the dev, I will answer it (he'll be online in a few hours). Please check the OP for more details, search for Timeline. Our standalone payment gateway is currently in beta-testing and will be launched soon. With it, we are independent of any payment processors and allow merchants to accept payments in XMG. ... Furthermore, we're planning a marketplace where people can sell their items and get paid in XMG. Electrum and Android app, donation plugins and P2Pool are more ideas. If you have ideas, let us know. We appreciate any community input. Thanks for the details mate. The timeline is basically the plan, however I will put particular emphasis on the magipay and the marketplace. You still remember the marketplace I discussed with you long time ago. |
|
|
|
|
Show Posts
