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Author Topic: [ANN][2nd Proof of Mining Campaign] Coin Magi |PoS-II| PoM|MQW 2nd Pool  (Read 4286 times)
111magic
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June 21, 2015, 08:29:41 AM
 #1

Special thanks to Historical for developing the first Mining pool for the Proof of Mining campaign.
https://bitcointalk.org/index.php?topic=1028548.0
Special thanks to Lahlor for developing the second Mining pool for the Proof on Mining campaign.

Original ANN-thread: https://bitcointalk.org/index.php?topic=735170.0


     
Freenode IRC: #magi  |   Skype: coin.magi  |   QQ group: 337678945  |   Email: support@coinmagi.org

MagiPub | MagiPay | MagiMining (Discussion) | MagiDev | MagiCampaign


Website | Forum | Wallet Downloads | Source code
(wallet version: 1.2.1.1)


Download CPU miner

Github: source code
Spexx's compiled package - Download, Beginner package, Speed controller
NeedIfFindIt's GUI Magi Miner - Auto-adjusting hashrate: 0.9.8 Beta, 0.9.8 Beta (no miners), source code
Our own compilation: Download from sourceforge
Running miner in a VPS [linux os]
Cygwin compilation (windows)
Compile and run CPU miner on Mac OS
How to run a minerd

# m-cpuminer-legacy-v2 (source code)
This miner (optimized V2) is the same as generic CPU minerd except an additional option flag "-e cpu_efficiency", that allows adjusting cpu efficiency between 1 - 100.
Code:
minerdlegacy -o stratum+tcp://pool_url:pool_port -u pool_user.worker -p password -t thread_numbers -e cpu_efficiency


Mining pool involved in PoM
(For a full list of mining pools see the original post)
http://minerclaim.net/index.php

Register PoM
Post username Pool here &
http://minerclaim.net/index.php?page=contactform&action= Fill in this contactform and give username you use in the pool.



What is PoM?

PoM - Proof of Mining; in simple,  the magi team rewards commensurate coins to every participant in this campaign, in accordance with your CPU hashrate invested into mining XMG.

PoM is also a built-in feature of XMG, thanks to the block reward design (see this link for more information). A detail explanation is shown below:

What is POM ?

Good question; no one was questioning this before, though we're talking "CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay]". PoM has more meaning (since we're advising 1st PoM) than a single campaign as done before (which was an approach to protect coin distribution): https://bitcointalk.org/index.php?topic=802681.0; some details here: http://arxiv.org/pdf/1409.7948v1.pdf

PoM - proof of mining; by it's definition, the more mining efforts being placed, the more rewards one gets. This is typically right in mining any coins, while it's particularly emphasized in Magi (on individuals' participation), because of the design of PoW block reward. A simple description of the block reward is that it decreases with increasing network hashrate, and may hit zero when network hash is significantly high. A consequence of this is big miners get frustrated. If one is familiar with the block reward (https://bitcointalk.org/index.php?topic=735170.msg9991269#msg9991269), you will see block reward could be easily hitting zero. A point here, which was also being argued among people, is who will exit if mining nothing? This is where PoM campaign will be functioning. The campaign will encourage people to keep mining by rewarding despite the amount of block reward. To understand the purpose of the PoM campaign , we can see what happens if we're on the opposite situation - what if generic miners quit first?: 1) big miners keep mining, 2) because of miners quitting, network hash getting low, block reward increasing, and big miners get rewarded more! So now you see PoM campaign is trying to protect the network and to ensure FAIR coin distribution.

To the individuals, PoM means one will receive better rewarding by long term mining. Provided that we, the generic miners, form a solid league, won't give up mining in any situation. One will receive less mining share if big miners are present since they have more hash weight over the rest of miners. It should be noted, however, that coin distribution is pretty much protected by the significantly reduced block reward, as much less coins will be mined in this case. At the time of big miners' leaving, network hash decreasing, not only one gets higher mining share, but also the block reward is high. Then you know why Magi can achieve the FAIRness in coin distribution.

Why PoM?

The XMG's block reward design has to bring the network hashrate into an equilibrium which would never go a very high or low number. Though the equilibrium state is strongly affected by the coin price, it is anticipated that the total hashrate could stay an appropriate level. This is a good feature to avoid huge waste of electricity consumed in the Bitcoin or other Altcoin's network. However, the weakness lies in the fact that one can gain reasonably high hashrate to dominate over the rest of the network. Although this is undesirable feature, we have taken a strategy, i.e., the PoM campaign, to avoid big-hash miners.

In general, people mine for profits, that means miners leave when they are unsatisfied with mining rewards.  

The PoM campaign encourages the persistence of generic miners by giving away a certain amount of coins to each participant. So one will receive mining reward plus PoM campaign reward. Even mining gets zero reward, one will receive the benefit from this campaign.

To the XMG network, we will have a fixed number of people mining around to compete the big-hash miners. In normal situation, people would quit after mining something without a reasonable ROI. This is primarily the reason of this campaign, and it is anticipated that the generic miners will maximize their shares.

What does "2nd PoM" mean?
The initial PoM (1st) is launched here: https://bitcointalk.org/index.php?topic=802681.0.

Duration
About two months.

Participation & Rules

# http://minerclaim.net/index.php?page=contactform&action= Fill in this contactform and give username you use in the pool.
# You must mine with your CPU and total hashrate not exceeding 250 kh/s.

Pool rule
http://minerclaim.net/index.php is our second official pool (created and managed by Lahlor) designed for PoM; mining hashrate higher than 250 kh/s is not allowed. Warning will be giving to people who put miners exceeding 250 kh/s, followed by account locking and worker removal if hashrate is not depressing upon warning.

Reward
We have a certain amount of pre-set funds available at this time, and intend to get more funds. The funds will be distributed into all of the participants. The following will affect the amount of coins one will receive.
# The number of participants;
# The reward will be proportional to 1) hashrate (up to 250 kh/s) 2) mining duration

(we will make sure the method of how-to-calculate soon)

PoM Funds
Funds raised up by donations (to be listed); total funds: 23,088.0 XMG
All further donations will be added up to the funds:
99TPno3sPeUfDh9tq4To7xkLAYNQV1Qri1



No deadline for participation
Earlier participants receive higher reward

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go6ooo1212
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June 21, 2015, 08:36:12 AM
 #2

First: Proceeding to register now , cheers Smiley
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June 21, 2015, 08:56:29 AM
 #3

Heh, go6ooo you woke up eary today Kiss. Nice to see the 2-nd PoM in action.

Good luck XMG community! Smiley

Argon2d PoW
& Masternodes


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June 21, 2015, 09:17:38 AM
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I'm in now thanks

Was very late joining POM1 so heres to POM2  Grin

paolo77
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June 21, 2015, 10:00:05 AM
 #5

I just registered and am undermining the new pool, I had registered for the POM on the old pool have to redo the recording? my username is paolo77 in the pool !!
111magic
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June 21, 2015, 10:21:45 AM
 #6

I just registered and am undermining the new pool, I had registered for the POM on the old pool have to redo the recording? my username is paolo77 in the pool !!

Just for all some information:
Magi has now 2 pools for the PoM!!
1st pool from Historical https://pom.m-hash.com/
2nd pool from Lahlor https://xmg.cloud2b.de/
If you are using the 1st pool you don't have to switch.
If you start mining Magi for the first time you can choose with pool you like to join!

Hope all Magi pools would join the maximum hashrate in the future! Better results with the MQW/ unique blockreward system.


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June 21, 2015, 10:27:53 AM
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Are the both pools active for the PoM2 Smiley
111magic
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June 21, 2015, 10:30:52 AM
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Are the both pools active for the PoM2 Smiley
Yes they are!

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June 21, 2015, 11:32:41 AM
 #9

Do not forget to set your pool donation percentage folks!

I can't be the only one with a generous heart Wink

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June 21, 2015, 12:00:52 PM
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I just registered and am undermining the new pool, I had registered for the POM on the old pool have to redo the recording? my username is paolo77 in the pool !!

Just for all some information:
Magi has now 2 pools for the PoM!!
1st pool from Historical https://pom.m-hash.com/
2nd pool from Lahlor https://xmg.cloud2b.de/
If you are using the 1st pool you don't have to switch.
If you start mining Magi for the first time you can choose with pool you like to join!

Hope all Magi pools would join the maximum hashrate in the future! Better results with the MQW/ unique blockreward system.




Ok, back to the first pool that I had already registered for a while !!! thanks for the reply!
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June 21, 2015, 03:04:15 PM
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will be a pleasure for me to be into this campaign, i loose the opportunity to be into the first one, so now is my turn Wink

btw where are both pools located?

https://pom.m-hash.com/
https://xmg.cloud2b.de/  (this one is at Europe, but where exactly? )
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June 21, 2015, 03:13:17 PM
 #12

will be a pleasure for me to be into this campaign, i loose the opportunity to be into the first one, so now is my turn Wink

btw where are both pools located?

https://pom.m-hash.com/
https://xmg.cloud2b.de/  (this one is at Europe, but where exactly? )

Hi,

xmg.cloud2b.de is located in Frankfurt (Germany)

Sorry but we need the information of Historical or someone else who can say where the second one is located.
Anyway start mining and choose the right pool later on so you don´t loose time Wink

Cheers!
phriek
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June 21, 2015, 08:08:28 PM
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Just registrered with my username "phriek" at the german Pool for PoM.

Thanks!

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go6ooo1212
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June 21, 2015, 08:10:55 PM
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I could participate on both the pools , not to have a preferred one Smiley
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June 21, 2015, 08:11:04 PM
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Hi,

xmg.cloud2b.de is located in Frankfurt (Germany)

Sorry but we need the information of Historical or someone else who can say where the second one is located.
Anyway start mining and choose the right pool later on so you don´t loose time Wink

Cheers!


ty for the reply, i just fill the form and registered into the pool and start minning  Wink

lets see if this campaign is as good as the first one, im 100% that it will be Wink

good minning to all!!
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June 22, 2015, 08:59:57 AM
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with username "siptruk" just swim for participate PoM2 in 2nd pool xmg.cloud2b.de  Grin
paolo77
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June 22, 2015, 09:21:11 AM
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The proceeds are being distributed between 2 months to end of POM right? I understand I'm wrong?
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June 22, 2015, 07:29:19 PM
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Just registered on the Cloud2b pool too  (username:Sajador) and filled the Form for PoM
Also want to spread some of my Hashrate Cheesy and ofcourse Donating even if its just dust with my kinda Weak cpu (Compared to all the others xD)
111magic
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June 22, 2015, 07:36:11 PM
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The proceeds are being distributed between 2 months to end of POM right? I understand I'm wrong?

Yes amigo thats right!

111magic
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June 22, 2015, 07:37:07 PM
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Just registered on the Cloud2b pool too  (username:Sajador) and filled the Form for PoM
Also want to spread some of my Hashrate Cheesy and ofcourse Donating even if its just dust with my kinda Weak cpu (Compared to all the others xD)
Datsaja thats really cool amigo!
This is an example why our community is awesome!
Thanks and well done!

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