[Coming updates & coin swap]1. Regarding recent questions about the coin swap, here below are some numbers:Initial coins the swap wallet held: 1,237,505 XMG Total coins minted so far: 1,657,042 XMG (i.e., freshly mined: 419,537 XMG) Other expense: translation bounties - 8,000 XMG (this is more than expected cause we promised the bounties before taking into account the actual swapping ratio) 1st coin swap 5% done between 09/24 - 10/01: 45,348.82747990 XMG (Coin swap+bounties) : (mined coins) = 1 : 7.86 The scheduled 2nd swap has been delayed. As I have mentioned before ( https://bitcointalk.org/index.php?topic=735170.msg8950501#msg8950501), we may delay or reduce the swapping ratio in order to protect the XMG market. We will keep the swapped coins over totally mined coins at 1 : 5 ~ 1 : 10. Miners and prior magicoin holders please let me know your suggestions if you have different opinions. If XMG minting happens in a significantly slow pace, swap will be accordingly extended to maintain the above ratio. 2. Wallet updates & algoI 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. The progress of coins minted so far actually proceed slower than expected. Initially we consider significant amount of new XMG minted to dilute swap coins. However, since we changed the swap plan by limiting under a ratio, we can go with the current rewarding system till the end of PoW-I. Noticing the advantage of this block-rewarding system, I now consider this system to be better to be used in the PoW-II stage; TBD 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. 4. MagiAnon: TOR and other Anonymous featureWe will deliver the TOR soon nearly at the scheduled time. In the mean time, I will be looking into anonymous features, such as merging with the Darksend, in the following months. The block rewarding system seems triggering some interests in maintaining a set of rewarding nodes. While I don't think about it in details, this may get us advantages over implementing in other coins. 5. MagiConnectionsIn addition to the technical development, one of the focus XMG will emphasize is the connections among people using XMG. A tipping system will be the one we should look at, since we have seen the advantages in prior posts: people who help others receive tips. If you can give a hand on this, please let me know, or I will be looking into this once other stuffs are settled. I also hope people can suggest/host a campaign, having fun as well as promoting XMG. You can think of any kinds of campaigns, for any approved XMG provides support. I am going to create a MagiCampaign tab in our subreddit /r/coinmagi. Please fill up the list. An example on-going is here: https://bitcointalk.org/index.php?topic=802681.0I will give a roadmap for these stuffs sometimes.
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The above mentioned is a serious problem. In fact it makes mining for small miners a bad choice, as it is lots cheaper to buy than to mine, and the free miners will continue to keep the price down.
Joe, one idea could be to buy all this cheap positions, manually or probably with a bot. Don't know if you have some funds left for this (call it a campaign "Proof of value" or something like this), before daytraders make cash with these cheap coins. We are lack of funds, so this could be unlikely; also, it could also not be wise to do so. Some IPO coin projects do support this kind of buying support, but in my opinion, market is the market which should reflect the real situation; big intervention could be lead to misunderstanding for the miners. Yeah, I see your point. I think more people should know about Magi. Each miner, no matter if asic, gpu or whatever miner can use his cpu. No extra costs, no huge efforts. And even if they are mining just a few coins, bringing just some extra kh, it increases the network/coin. More or less: Every miner (not only) at this board could join our little community. My CPU runs 24/7 for Magi, my coins are sleeping in the wallet and if I have some free funds, I buy some cheap coins on the exchanges. That's not much but my contribution. exactly, we will need to advertise a bit more about XMG, Tweet / RT https://twitter.com/CoinMagi |
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its good you support and all that Digi; I think "we" need to some how help out with the growth of Magi in our own ways. Anons might need to tweet it, so we got to let the other Anons know, they have a chance to get into the crypto industry. Anyone in touch with YourAnonNews? http://twitter.com/YourAnonNewsPlease don't get me wrong, I am a big XMG supporter and am currently buying and holding all the way into the top 10 holders,
only for me it feels off if I am running my miners, burning energy and money, while it is less energy/money-consuming to just buy on the market.
and dev, any updates on the TOR inputs? I know you have been very busy working on the mining aspect, which can only improve from here. We are fan of your developments! I will try to get the TOR on the testnet this week, but before that I plan to update the wallet & algo. |
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Yes it is. I think dev is sleeping now. 04:55hour at his place now.
I still believe in XMG.
That is your opinion loonb. If you've read the thread properly, there is not much of that huge amount left after the swap ratio of 4 -1
In addition, the swap is further postponed to protect XMG and miners.
So I find XMG still the fairest currency
Don't get me wrong, I am a XMG supporter and have been buying a lot and mining a little, but on the richlist the swap wallet still has 1,165,995.0 XMG = 70.75 % of all coins. How do you mean there is not much of that huge amount left? How many coins have been swapped the last 3 days? That could also be the reason for the price drop; swappers selling off their new XMG rightaway. I think thats the swap wallet. https://bitcointalk.org/index.php?topic=735170.msg8950501#msg8950501https://bitcointalk.org/index.php?topic=735170.msg9098733#msg9098733Right, then only 60,000 XMG have been distributed as swap uptil now. That means 1,165,995.0 XMG are still waiting to be swapped. Thats is a HUGE amount and will not be very supportive with regards to any upwards price movements. Add tot that the miners that are dumping, we got ourselves a situation. Let me give an update on this and some other updates & plans. |
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The above mentioned is a serious problem. In fact it makes mining for small miners a bad choice, as it is lots cheaper to buy than to mine, and the free miners will continue to keep the price down.
Joe, one idea could be to buy all this cheap positions, manually or probably with a bot. Don't know if you have some funds left for this (call it a campaign "Proof of value" or something like this), before daytraders make cash with these cheap coins. We are lack of funds, so this could be unlikely; also, it could also not be wise to do so. Some IPO coin projects do support this kind of buying support, but in my opinion, market is the market which should reflect the real situation; big intervention could be lead to misunderstanding for the miners. |
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The point is, everyone (me included) is mining for the wrong reasons nowadays, we don't mine anymore for idealistic reasons or to strengthen a network, if the numbers don't add up we stop mining - and that's the main flaw.
In the beginning BTC was mined for fun, there was no real money in it, people just used their spare time, others did folding for example, they just liked the idea...
So what i am trying to say, it should basicly be unimportant what the current price is, if you think this is nice - keep one miner instance running and just ignore the market - you will accumulate enough over time to make it worth your while IF this plays out - and that's the whole story, if you don't think the coin is nice and interesting you just shouldn't mine it imho ^^
Just came from a typical weekly meeting (every Monday or Tuesday morning), back & forth discussion on non-conclusive stuffs, kinda boring; just seen many posts popped up. I was a bit depressed too in the last few days as to the price. Some people on this coin are most likely just mining, dumping, and then moving to the next coin. Fortunately we have many people who are around not solely for this purpose. All their supports are the reason that XMG is and remain to be here. For people who care about the price, we may need to notice the connection with the daily trading volume. We need to work out some more exchanges along that, as well as to make XMG to be known by more people. Following are the exchanges you can vote for XMG: https://www.cryptsy.com/coinvotes/https://bter.com/voting |
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Thanks guys, I realized people who liked this coin.  |
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AS PROMISED, i had spend some free time in the weekend to help a bit to community  Translation to LITHUANIAN language any tips appreciated My XMG : 96v3H8THvaibBrMezgoZJSNUacxXin1LD1 Thanks a lot kl8847; will you be able to post this in your forum, and send me a link? here we go: https://bitcointalk.org/index.php?topic=812317.0still not sure if i placed that thread in the right place.. And here is a tread on lithaunian forum. it's dead a bit, but hope it will expand in the future no traffic there, but anyway all new comers can read about Coin of Magi http://bitcoinlt.org/diskusijos/viewtopic.php?f=2&t=53Looks like the bitcointalk link is broken. I am not sure why moderotors deleting my tread, they did that 3 times. where i should place it to survive? Maybe somewhere of your local forum other than bitcointalk |
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i have a simple question...
besides all this attention for mining
what is the next feature that will be added to give this coin real value?
We have primarily focused on the CPU mining so far and will continue this direction. Making XMG CPU minable will differentiate us significantly from many other coins, which should give XMG values. We still have a few important tasks to be done in order to consolidate the CPU mining before we emphasize the real next. Speaking of the next, we will have PoS-II coming soon, a Tor feature, and may get the anonymous features in the near future. There are a few people from this community working on Android apps and games. A roadmap will be announced once we have clear ideas about these. |
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AS PROMISED, i had spend some free time in the weekend to help a bit to community Translation to LITHUANIAN language any tips appreciated My XMG : 96v3H8THvaibBrMezgoZJSNUacxXin1LD1 Thanks a lot kl8847; will you be able to post this in your forum, and send me a link? here we go: https://bitcointalk.org/index.php?topic=812317.0still not sure if i placed that thread in the right place.. And here is a tread on lithaunian forum. it's dead a bit, but hope it will expand in the future no traffic there, but anyway all new comers can read about Coin of Magi http://bitcoinlt.org/diskusijos/viewtopic.php?f=2&t=53Looks like the bitcointalk link is broken. |
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Has any MAGI been converted to XMG yet?
We have had the fist set of coins swapped (5%) since last week; observing price dropping, we will be pausing/reducing swapping amount (no swap done for the 2nd set so far); we may continue to pause the swap if price is not showing any good (swap may not be the only reason of dropping, BTC dropped a lot too, but we will carefully handle the swap anyway). |
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AS PROMISED, i had spend some free time in the weekend to help a bit to community Translation to LITHUANIAN language any tips appreciated My XMG : 96v3H8THvaibBrMezgoZJSNUacxXin1LD1 Thanks a lot kl8847; will you be able to post this in your forum, and send me a link? |
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Joined the proof of mining campaign.
AMD FX8350 running 6 cores gives approx 78 kh/s with the miner cpuminer_win64_magi_byMarcusDe-bdver2-0922
How you like your 8350? You can squeak 100Kh/s out of that bad boy. really? what miner gives that results? I don't wanna run 8 but max 6 cores. Atomicat, we need an instruction here. I have AMD 8350 too getting 90 Kh/s in my Xubuntu system (8 cores). Ok, just had to double-check a few things, bench a few things, make sure I was solid with this. Phew! Getting the best out of your ram can be a lot more work than your CPU. More settings. Starting with baseline. NB frequency = 2200 HT link = 2200 CPU/NB voltage = 1.75 DRAM = 1.6 My ram - Gskill Ripjaws-X 17000CL11 - 2133, timings 11-11-11-28-39 Benchmark - Aida64 - about 24,400 MB/s Tightened up the timing, 10-11-10-28-39 I think I had tRAS and tRC lower but still fiddling with stability and if there's a benefit. Boosted NB to 2400, HT link to 2600, CPU/NB to 1.8 ram to 1.65. Increased FSB to 115 which increases DRAM frequency to 2300Mhz Aida64 now gives about 30,050MB/s Then just crank it!  At 4.95 Ghz I'm getting 96Kh/s on 6 cores, 108 on 7. This is the best I've done with squeezing those last drops out of the ram sticks. If anyone's got any tips on timing, I'd love to hear them. I don't hammer at settings all that often because I find I'll have spent half the day benchmarking and BSOD'ing and none of it actually working/hashing. Diminishing returns! Edit: *sigh* I know it was around here somewhere.... Yeah, the above was a bit unstable. Found it easier to play with and more stable around the 245 FSB range, no boost to NB, few other settings etc etc. But that's about it, results may vary etc etc and your board/ram will probably be different. I'm thinking of starting a thread on overclocking in the mining section, get some more heads in on these things. This is the highest hashrate I've seen as to this CPU, are you under Windows 8? btw it will be helpful if you can start a new thread so people can input their ideas. |
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BTW, I'll have our own reddit available tomorrow; will promote there too, starting with a giveway to get some attentions.
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Price is crashing...
No worries. Maybe just my just my orders at 5555 4555 and 3555 satoshi. Trying to work a little magic here... (I'm having a strange fascination with with the number five)  Hey, just kidding wasn't me... don't think so anyway. Any news on PoB Lightsplasher.. I started the first part of a rough draft (and rode my bike today) comments and suggestions welcomed. I'm planning on starting a bitcointalk thread and posting this on my blog. If you guys want I can tone down the humor a bit I'm not sure how silly is too silly, I'm a bit silly... PoB (proof of biking) How the campaign works: To get started post a picture of your bicycle (or shoes for those with no bike) to the bitcoin talk thread for proof of biking and make the commitment to walk, bike or use public transportation for one week. At the end of the week post your results, how things went, any issues etc. Results are posted on an honor system and you can propose a percentage based on your commitment. Each week the “pot” will be divided up between all the participants up to a maximum of 100 coins each. If you want to stay involved in additional weeks you will need to make a small donation to the pot or ask for donation support from local bicycle stores, friends, Bill Gates, etc. How to purchase: I would probably advise not purchasing magic coin directly from any odd looking mystics that sit in the field of love, bliss and non-personal reality, without getting an escrow service involved, but who knows you might get a bargain (or maybe a bar-loss) it is buyer beware out there. Best purchase bitcoin and trade on a reputable exchange; Magi trades under the symbol XMG at: https://cryptoine.com/trade/xmg_btcLove to see this campaign get going. I'd love to see what kind of pictures people will post. I would message Bill Gates to support this walk/bike-to-work campaign. my little suggestion: to have our XMG slogan somewhere in the picture: XMG - Coin of the Magi. |
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Price is crashing...
No worries. Maybe just my just my orders at 5555 4555 and 3555 satoshi. Trying to work a little magic here... (I'm having a strange fascination with with the number five) Hey, just kidding wasn't me... don't think so anyway. Any news on PoB Lightsplasher.. |
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The price was dropped, then backed up somehow, nearly at the lowest imo.
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