Hi guys
is minting working well for all of you?! For me it's taking way too long? 12 hours ago it said 4 hours. Now it says one hour? How accurate is the estimate?
Cheers
the timing is sort of inaccurate as people reported priorly, will look into that. |
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"Expected time to earn rewards is 1h". It's writing that for at least 3h now... is it a bug?
I am not sure about the waiting time which could be incorrect, will take a look the wallet code sometime. |
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If you all can submit requests to exchanges (bittrex for example and mention XMG in their IRC channel) that will help us more exchanges.
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Wallet keep syncing after restart and few hours..
Here are some nodes: addnode=66.55.90.58
addnode=107.170.52.31
addnode=162.243.219.192 |
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Great, I received my first 0.78 XMG for mining/staking. It says it will take 118 blocks to become confirmed. Staking is superb!  I haven't got anything from PoS yet but it looks like things are working wonderfully. Net hashrate is much higher and PoW block generation is slowing. Nice, very happy!  Small bug: it looks like the minting information is not updating when the mouse hovers over the mining icon. (it always reports the same stake weight, network weight and time for reward) It may take time depending on blocks; can you see now it is updated? It has reported the same information since I opened the wallet this morning, maybe it will change if I mint a block, I'll keep an eye on it. Oh boy got my first PoS-II block minted! The minting information seen from hovering with the mouse eventually does seem to change but it takes a long time and I'm wondering if it should more closely match the information from getmininginfo in the debug window (netstakeweight stakeweight)?? Congrats; will check out the network weight info. |
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Hi guys. Please list XMG/CoinMagi on the new CoinBlab crypto social network: http://coinblab.comHere is an example page: http://coinblab.com/page/dogecoinCoinBlab also has groups, events, blogs, and IM! Also create an account and secure your username first too! Please add M7M algo. |
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How is nethashrate so high now..
I think PoS (or PoS-II ?) drives it up because the block time needs to be maintained. Blocks need to be formed less often or the coin will turn into a 30 second block time coin so difficulty for both PoW and PoS raises. It is really a good thing because the higher the nethashrate the more secure the coin is in theory. The "netmhashps" actually gives the right info which is the PoW network hashrate. |
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This is my day job, wanted to offer my services to anyone who needs it at a huge discount compared to a USD architect. Doing this to support the coin, will also donate 5% of every sale to MagiFunds
Send me a message to work out the details of course.
evilmuffinman, thanks for this great support to XMG, you are our 1st merchant Here is the marketplace forum in case you want to make a post there too: https://bitcointalk.org/index.php?board=161.0 |
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It is an AMD FX8350 with 8 cores, using cpuminer_win64_magi_byMarcusDe-bdver2-0922 and logging in at suprnova on stratum+tcp://xmg.suprnova.cc:7127
oh ok thank you. Nice! is this the best miner at this time, or better to use other version? I think AMD FX8350 is doing good. |
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how about deposit? only issue with cryptoine? how about c-cex?
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uoo, pow phase is over?  my xmg withdrawals of cryptoine has the status: valid, since 10 minutes is not got to blockchain? Someone pay out now with this exchange?Both PoS-II and PoW are online. |
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Great, I received my first 0.78 XMG for mining/staking. It says it will take 118 blocks to become confirmed. Staking is superb! I haven't got anything from PoS yet but it looks like things are working wonderfully. Net hashrate is much higher and PoW block generation is slowing. Nice, very happy! Small bug: it looks like the minting information is not updating when the mouse hovers over the mining icon. (it always reports the same stake weight, network weight and time for reward) It may take time depending on blocks; can you see now it is updated? |
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If you want to disable PoS-II (typically for exchanges), given posii=0 in magi.conf
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10080!!
we have network weight
PoS-II is working, let me know any problems you have. |
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See DJM, this is the open source world, no one makes a rule for something; how many changes has darkcoin made at the beginning? Even Richard Stallman needs to keep improving his source code. I am not keeping doing this personally as I like, since people like to mine with cpu, I want keep that. I won't expect any further changes regarding the algo in the future after this.
From the miner point of view, algo change is really straightforward: upgrade his minerd; and the wallet too in order to receive coins. The advantage will be that we are even safe with cpu mining. I am really surprised why you reacted so much.
If one gets reduced hashrate due to the algo change, the same things happen to all other miners; please don't get people wrong at this point, why should "People with large hashrate will still have large hashrate". Surely we also need to make changes to the rewarding system to match with algo. Your guess on this is really not standing. Any person can argue with me about the fairness, while the change I want to make to try making it fair. Just think about the changing to be made, I really think why shouldn't we consolidate the cpu mining while we can.
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What's the problem with you DJM, have we changed algo since launch? I don't think you really use your brain to think! And I am really impressed by what your personality you are! I really hope you are a guy being here to help, but I am wrong. If you don't like this coin, just go for another. Is that difficult for you!?
And did you remember your comments in this thread long time ago, really not helpful, I assume you just behave that way. If you think I am against a gpu dev like you, you're wrong; I am never against any person, just look around. Since we launched this coin as cpu mining, I just try to keep it the way as it should be. If you want to discuss something Magi needs gpu or not, go for another thread, let people vote. I totally agree with what's being decided..
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3. PoS-II initialted at block 10,080This graph summarizes the PoS-II.  The percentage is calculated based on the base of 5,000,000 XMG, for exampe, 0.1% means 5,000 XMG in a transaction.
I guess I'm a bit confused about what the rate PoS-II is paying. The chart has coin age on the left and days on the bottom (are days how long PoS has run from start at block 10080?). The colored bars are pretty; pretty confusing at least for me. Does PoS-II take precedence over PoW blocks and crowd them out partially to maintain the block time as other PoS coins do? If I invest in this coin will I be earning 5% annually after 100 days? It looks like it is paying as high as 10 percent for holding coins 5 days initially is this right? Is this chart a proposed change or is this how things are working now? Thanks in advance for any explanations.
This chart is already working now. The bottom axis is the staking days actually. PoS has block time of 1.5 min; once PoS is initiated, the block chain will go faster than what it is now. The interest rate is the same for all, however difference comes from the coin age; the PoS earnings are proportional to coin ages and annual interest (see below). The maximum coin age for one who holds 10% of total coins is 6 times less than one who holds 0.1% of total coins. 0.1% holder gets the maximum coin age at 30th day. However, the 10% holder gets the maximum coin age at ~5th day, at 20th he will get nearly negligible coin age. This means for one having 10% coins in stake, he must carrier out transactions to continue staking.  |
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I have an update in mind regarding the mining algo. The current block-rewarding system is basically resistant to even higher hashrate. This makes generic computer still minable, though ROI remains to be a concern. I am looking into some kind of numerical computation algo which would be even unlikely programmable for the GPU. Initial attempt was made by using Fortran, however we got compiling issue and had been dropped off. I will make one more try on this (fully implemented with C++) to make us even safe with CPU mining.
lol again ?  First: Why ? There is no gpu running on it, this coin is already cpu only... Second: Why do you think gpu are bad at doing numerical computation ? For your information: http://www.mathworks.com/discovery/matlab-gpu.html Hi DJM, thanks for commenting. I am glad and other miners will be glad too as you comment: There is no gpu running on it, this coin is already cpu only... The implementations of floating point on Nvidia GPUs are mostly IEEE compliant; however, this is not true across all vendors.[9] This has implications for correctness which are considered important to some scientific applications. While 64-bit floating point values (double precision float) are commonly available on CPUs, these are not universally supported on GPUs; some GPU architectures sacrifice IEEE compliance while others lack double-precision altogether. There have been efforts to emulate double-precision floating point values on GPUs; however, the speed tradeoff negates any benefit to offloading the computation onto the GPU in the first place.[10] We will kill most of GPUs by having above if they do exist. In addition to that, I am pretty sure numerical computation in resolving scientific problems can't be handled fully by parallel computation. |
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Well said, Joe!! Proud to be supporting you and the Magi community.
I think this gives us a great outlook on the transparency involved with Magi, and the future with what is to come. I think all was stated well, and we as a community need to continue providing feedback on mining, engaging in community marketing, and helping magi get noticed everywhere.
I'm going to bump up a few posts; we need others to help out. if anyone is interested in helping with marketing and taking my direction on a community level; send me a msg. I know I was going to help out a few people with other developments like Android; however, I got tied up this past week, and going to be busy in the coming days. I prefer to help engage with people within the community who know what is magi, how it works, and wants direction on marketing it.
I'm going to also give you a bounty out of my pocket for helping towards it. Please send me a pm to discuss.
Thanks Sam, we do need other people's support to help on the marketing etc. |
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ok, thanks, good to know. |
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