I think this project should be trustful, asking for additional proof is excess, well you can always ask for that but mostly focusing on the project itself should be more the important part regarding ROI. I can see a good concept here.

Nothing has changed yet; I will PM you when there is a coming change.

The recent update:
https://bitcointalk.org/index.php?topic=735170.msg9230961#msg9230961

Thanks Spexx, very useful information for me.

We just passed over hard fork at block 13653.

A quick info, if you're not intent to test the testnet hard fork, you won't need to do anything, also unnecessary to use the new wallet for the main net. 

Thanks Ron, we're ready for proof of airdrop; let us know when things are ready for kicking off 

No block number prescheduled, but will start exactly at the time planned.

The update is for test net only at this time.

Enhancing CPU mining: M7M hardfork in testnet 10/17/2014 8:00 PM EST; https://bitcointalk.org/index.php?topic=735170.msg9230961#msg9230961

We will live with this new algo once implemented in the Main net. The new algo will pretty protect us to stay CPU minable.

Planned hard fork in the main net: 10/24/2014 3:00 PM EST

Added to the update:

Planned hard fork in the main net: 10/24/2014 3:00 PM EST

This will be the earliest time depending on the test, and the miner and pools should be ready. I have contacts with two pools, both of them told me algo changing won't be a problem.

Edit: about the algo name, let's just keep it the same since we have used it every where; it represents for CPU minable algo.

Notice this is testnet hardfork (not main net); a few places mentioned that.


(very first sentence in the update section)

[M7M hardfork in testnet]

Here we are going a hardfork to be happening on 10/17/2014 8:00 PM EST [only testnet at this time]. This update enhances the CPU mining. We will be living with the new algo from now on. In my view, this new M7M will pretty make it very hard to implement GPU miners. A major change is the addition of a sequential algorithm with iterative numerical computation using GMP floating-point numbers. I will expect this disables any on-going efforts of parallel implementation. GMP floating-point numbers allow "infinite" accuracy while we have to compromise to a certain level to avoid largely depressing hash rate. Surely I've taken the chance to further "mess up" the things that makes CPU hashing quite straightforward, while GPU mining even hard and impossible. Our block-rewarding system will give great chance for CPU mining too. As a consequence of the algo changing and hashing hard, the hash rate has to be compromised somewhere. The hashrate of my AMD 8350 is reduced from 79.2 kh/s (built-in mining) to 28.5 kh/s, and my VPS is reduced from 22.5 kh/s to 9.1 kh/s.

Why CPU mining?

Because ... people like it! I received feedback that some people just happy with VPS mining XMG. Well this is not big deal regarding the mining earnings, but what if you use your VPS to mine bitcoin or litecoin? The most advantage of XMG is that you can always mine a few coins if you want and this can remain forever; will the same rule apply for other CPU coins? I don't think so; the conventional CPU coins have the growth pain because of the joining of big CPU mining farms. For XMG, we pretty make use of the new block rewarding system that avoids the coming of huge network hashrate.

So CPU mining is guaranteed?

I won't say this is 100% CPU coin, but will say 100% CPU minable. Check out relevant information, figure yourself.
https://github.com/magi-project/magi/blob/master/src/hash_magi.h

Are we safe?

Though the network hashrate has been pretty much limited, Magi is pretty secure, because of the hybrid PoW/PoS-II system. I will come back to the PoS-II part.

Instructions:

As aways, be sure to back up wallet.dat

Download binary wallets from here:
http://cryptomagic.com/files/magi-release/m7m-hardfork-testnet-v1.0.0.3/

Or compilation from github source:
https://github.com/magi-project/magi

The testnet wallet can be running with the mainnet wallet simultaneously.


Run daemon in tesetnet from the command line:

Check info:
Please take time to test it out and report hashrate before and after the hardfork, that will help us to refine the block-rewarding system once with the new algo. I will fire up the standalone miners soon later. I've already tested the hardfork in my side, so don't see any issues with that. After testnet, we will plug hard fork into the main net.

Planned hard fork in the main net: 10/24/2014 3:00 PM EST

If you're not intent to test the testnet hard fork, you won't need to do anything, also unnecessary to use the new wallet for the main net. 

This looks weird.


This can be done, while I am wondering the 1% interest rate that was used by blackcoin. 

How bad it is?

I have a coming update on the algo, and then will come back to PoS. Provide me details how PoS-II is going? Too less rewards? Any suggestions, a high interest?

looks fine; the coins in stake will get into balance finally.

What is total number of stake+balance ?

Will update your pool info.

Right now only two pools worked out stratum for M7M algo; it's ok with 2 pools.

Participant list:

https://docs.google.com/spreadsheets/d/1gidr25D6TLgfU0R0RGdRUAhWyVxWBtn9tuxZQgFqNxE/edit?usp=sharing

Let me know if your info is incorrect.

No really actually, won't take too long to finish stake ..

So the coins are in stake? need to wait for them to go back to balance.