Bitcoin Forum
July 18, 2018, 07:14:42 AM *
News: Latest stable version of Bitcoin Core: 0.16.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: « 1 ... 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 [90] 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 ... 1270 »
  Print  
Author Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]  (Read 1835819 times)
pcshared
Newbie
*
Offline Offline

Activity: 28
Merit: 0


View Profile WWW
September 18, 2014, 09:28:20 PM
 #1781

http://ekhtelas.com/w.png

This is true???
Unconfirmed!!!


http://ekhtelas.com/w.png

PCSHARED.COM
1531898082
Hero Member
*
Offline Offline

Posts: 1531898082

View Profile Personal Message (Offline)

Ignore
1531898082
Reply with quote  #2

1531898082
Report to moderator
The World's Betting Exchange

Bet with play money. Win real Bitcoin. 5BTC Prize Fund for World Cup 2018.

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
lama82
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
September 18, 2014, 09:30:24 PM
 #1782

Wat ?!

You don't want high hashrate ?!

Well we can also just put a hardlimit per user on the pools like with RevoCoin, LimiCoin etc..

But how does it makes sense to fork/change algo of the coin as soon as it is accepted and people mining it ?

Thats like you change the recipe of Coca Cola as soon as people like it and drink it Smiley

Care attention the possibility of existing GPU miners as people suspected, won't hashing rocketing be sign of gpu? that's most people's concern.

if there's really a GPU miner, i don't think the hashrate just grow 100M, it must be 1G or more , the guys who developed GPU miner could sell it to a big GPU farm, you know that the big GPU farm have more than thousands of cards, maybe there is a GPU miner for this coin, but they just don't use it, why? cause there's no trading volum of this coin,  do you see the buy order in the only exchange? it's only 0.09092916, why would they mine so many coins but don't know how to sell it ?

I think its a little more than 0.09092916
See here:
24h BTC Vol0.43400516
24h XMG Vol720.59880
24h Low Price0.00008400
24h High Price0.00070000
Last Price0.00049900

SamWalters
Full Member
***
Offline Offline

Activity: 238
Merit: 100

Sam Mother Fuckin' Walters


View Profile WWW
September 18, 2014, 09:37:10 PM
 #1783

Wat ?!

You don't want high hashrate ?!

Well we can also just put a hardlimit per user on the pools like with RevoCoin, LimiCoin etc..

But how does it makes sense to fork/change algo of the coin as soon as it is accepted and people mining it ?

Thats like you change the recipe of Coca Cola as soon as people like it and drink it Smiley

Care attention the possibility of existing GPU miners as people suspected, won't hashing rocketing be sign of gpu? that's most people's concern.

if there's really a GPU miner, i don't think the hashrate just grow 100M, it must be 1G or more , the guys who developed GPU miner could sell it to a big GPU farm, you know that the big GPU farm have more than thousands of cards, maybe there is a GPU miner for this coin, but they just don't use it, why? cause there's no trading volum of this coin,  do you see the buy order in the only exchange? it's only 0.09092916, why would they mine so many coins but don't know how to sell it ?

I think its a little more than 0.09092916
See here:
24h BTC Vol0.43400516
24h XMG Vol720.59880
24h Low Price0.00008400
24h High Price0.00070000
Last Price0.00049900



I also think its a little more than 0.09 - look at the order book- this is the most important factor. (What coin buy/sells went for) Everyone is on a consensus basis that buy orders are not to be sold onto, the coin is just getting started... with huge activity prior to launch and until now 4 days after the launch, and it will continue.

I've been watching this thread / coin / team / pool / etc..

All things are properly in place to appear like when 'Darkcoin' first launched. What are they on now? page 3,000  8 months later?

This is on a similar pace as the other successful new coins with innovative algos. just saying.

I support Magi the first anti-botnet mining network to give regular miners the fair chance of mining. Talk to #Magi on IRC: https://kiwiirc.com/client/irc.freenode.net/#magi or on BitcoinTalk: https://bitcointalk.org/index.php?topic=735170.0
pcshared
Newbie
*
Offline Offline

Activity: 28
Merit: 0


View Profile WWW
September 18, 2014, 09:43:11 PM
 #1784

HIII


http://ekhtelas.com/w.png

This is true???
Unconfirmed!!!


http://ekhtelas.com/w.png

PCSHARED.COM
SamWalters
Full Member
***
Offline Offline

Activity: 238
Merit: 100

Sam Mother Fuckin' Walters


View Profile WWW
September 18, 2014, 09:44:07 PM
 #1785


Yes this is not fake. I am getting better results on the pools.

We do need to spread the hash power though, where are you mining?

I think nonce pool needs some support.  I got about 10 coins (24 hours) on SuprNova pool. Might try Nonce soon.

I support Magi the first anti-botnet mining network to give regular miners the fair chance of mining. Talk to #Magi on IRC: https://kiwiirc.com/client/irc.freenode.net/#magi or on BitcoinTalk: https://bitcointalk.org/index.php?topic=735170.0
S.Naka
Full Member
***
Offline Offline

Activity: 183
Merit: 100

HUDI


View Profile
September 18, 2014, 09:55:10 PM
 #1786

Rank        User Name               KH/s                    XMG/Day
1       MagiSimpson    12,543.37                  6,818.602
2       anonymous            12,411.43                   6,746.876
3       anonymous       2,849.94                 1,549.234
4       test                      1,574.61               855.962

ECC...

Ok GG this coin is Fked... i stop here mining.

http://magi.nonce-pool.com

I LOVE ETH, MORE THEN BCC HAHAHAH!
SamWalters
Full Member
***
Offline Offline

Activity: 238
Merit: 100

Sam Mother Fuckin' Walters


View Profile WWW
September 18, 2014, 10:13:53 PM
 #1787

XMG Hello friends,

Out of interest and because I can not mine at the moment (too busy with XMG marketing plans) the following:
Everything works at the moment? Windows, Linux and Ubuntu?
How many miners are currently working?
I have read a number of ideas in the thread regarding the future plans for XMG.
If there are from more good ideas from the community ideas let me know.
Send me a PM or post it in the thread.
FYI the current price of XMG is pretty stable.
Advice do not sell to low. (unless you really need it)
More information will follow.
 Smiley

Thanks for handling the marketing... I am already inclined to help grow as I have setup a network of ads from friends in my network who can advertise heavily throughout the industry. It isn't in full course advertising yet, however, it is dependent on this community working together.

Twitter, reddit, facebook, and external sites that get traffic, should help the growth of magi, not only via bitcointalk, but we must bring in more.

I would like to see 100,000 views in this thread before the end of the month. I think its realistic.  Yes, Windows and Linux. I also have someone looking at a MAC compilation for this coin.

I think if we can setup proper marketing structures, bringing in traffic will help with the growth of the exchange rate.
Investors love coins with solid communities like this... and they are more inclined to help provide liquidity.

I support Magi the first anti-botnet mining network to give regular miners the fair chance of mining. Talk to #Magi on IRC: https://kiwiirc.com/client/irc.freenode.net/#magi or on BitcoinTalk: https://bitcointalk.org/index.php?topic=735170.0
db6
Newbie
*
Offline Offline

Activity: 11
Merit: 0


View Profile
September 18, 2014, 10:28:04 PM
 #1788

Rank        User Name               KH/s                    XMG/Day
1       MagiSimpson    12,543.37                  6,818.602
2       anonymous            12,411.43                   6,746.876
3       anonymous       2,849.94                 1,549.234
4       test                      1,574.61               855.962

ECC...

Ok GG this coin is Fked... i stop here mining.

http://magi.nonce-pool.com

OMG,  don't know how those guys are doing it but some of us have barely a few coins to show for 3 days mining.  Need to take the "fair distribution" bit off the headline  LOL.

I freely admit I am new to this cryptocurrency business but it seems to me the 'fairest' way to distribute coins to the most people (thus getting more market penetration) would be to reward based on mining involvement rather than hashing power otherwise someone is going to use their financial leverage to get richer (via renting server groups/ botnet /whatever). 
i.e. have a simple algo that does not require much power and basically slice the coins up by the amount of time people mined rather than the computing power they mined with ?   Would have to come up with some pre-registration account/IP address system to prevent mass account creation but that way 2 people would get roughly the same amount of coin if they mined for the same amount of time and there would not be such a waste of energy resources running server farms?

Am sure someone will point out to me that there are loads of holes in my suggestion, but surely there is a way to 'beat the bots'  :-)

SamWalters
Full Member
***
Offline Offline

Activity: 238
Merit: 100

Sam Mother Fuckin' Walters


View Profile WWW
September 18, 2014, 10:31:19 PM
 #1789

Rank        User Name               KH/s                    XMG/Day
1       MagiSimpson    12,543.37                  6,818.602
2       anonymous            12,411.43                   6,746.876
3       anonymous       2,849.94                 1,549.234
4       test                      1,574.61               855.962

ECC...

Ok GG this coin is Fked... i stop here mining.

http://magi.nonce-pool.com

OMG,  don't know how those guys are doing it but some of us have barely a few coins to show for 3 days mining.  Need to take the "fair distribution" bit off the headline  LOL.

I freely admit I am new to this cryptocurrency business but it seems to me the 'fairest' way to distribute coins to the most people (thus getting more market penetration) would be to reward based on mining involvement rather than hashing power otherwise someone is going to use their financial leverage to get richer (via renting server groups/ botnet /whatever). 
i.e. have a simple algo that does not require much power and basically slice the coins up by the amount of time people mined rather than the computing power they mined with ?   Would have to come up with some pre-registration account/IP address system to prevent mass account creation but that way 2 people would get roughly the same amount of coin if they mined for the same amount of time and there would not be such a waste of energy resources running server farms?

Am sure someone will point out to me that there are loads of holes in my suggestion, but surely there is a way to 'beat the bots'  :-)



I was trying out solo mining and i wasn't getting much results by having about 15 Kh/s then I also went into some VPS servers as stated in the guide here on the thread, but I decided to try out pool mining just less than 24 hours ago on suprnova and I am now about 10+ XMG

I don't see how its not fair, seems to be doing fine. If I launch more VPS nodes, I am sure I can do more.

I plan to also mine with like 2-3 other laptops/computers laying around as any hashing tends to help. It seems like Pool mining is the way to go.

I support Magi the first anti-botnet mining network to give regular miners the fair chance of mining. Talk to #Magi on IRC: https://kiwiirc.com/client/irc.freenode.net/#magi or on BitcoinTalk: https://bitcointalk.org/index.php?topic=735170.0
111magic
Legendary
*
Offline Offline

Activity: 1554
Merit: 1003


Support btc: 1KxLafx9LNJrqVoAbZNXYYhLWbknrRtdhD


View Profile WWW
September 18, 2014, 10:34:12 PM
 #1790

XMG Hello friends,

Out of interest and because I can not mine at the moment (too busy with XMG marketing plans) the following:
Everything works at the moment? Windows, Linux and Ubuntu?
How many miners are currently working?
I have read a number of ideas in the thread regarding the future plans for XMG.
If there are from more good ideas from the community ideas let me know.
Send me a PM or post it in the thread.
FYI the current price of XMG is pretty stable.
Advice do not sell to low. (unless you really need it)
More information will follow.
 Smiley

Thanks for handling the marketing... I am already inclined to help grow as I have setup a network of ads from friends in my network who can advertise heavily throughout the industry. It isn't in full course advertising yet, however, it is dependent on this community working together.

Twitter, reddit, facebook, and external sites that get traffic, should help the growth of magi, not only via bitcointalk, but we must bring in more.

I would like to see 100,000 views in this thread before the end of the month. I think its realistic.  Yes, Windows and Linux. I also have someone looking at a MAC compilation for this coin.

I think if we can setup proper marketing structures, bringing in traffic will help with the growth of the exchange rate.
Investors love coins with solid communities like this... and they are more inclined to help provide liquidity.


Those are good words Sam.
100,000 views is feasible.
Now mining is stable the time has come to invest in promotions and marketing.
Especially if we want Magicoin XMG going to get a special status within the world of Altcoins.
That only ones who can do that, are we with each other.
There are already several ideas. For example, a private Magicoin forum. Containing various topics and private marketplace. Apps for smartphones, games, videos, shops were you can pay with XMG so on and on.

Good ideas or help are always welcome.


  Coin MAGI  . XMG  
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓ XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8
  ANN THREAD MAGIPAY FAQ FORUM
BTC 1J7wFce3Ve8iPoY3BXQRvvLLcg6mfWSQHz
joelao95
Legendary
*
Offline Offline

Activity: 1134
Merit: 1009


Coin of the Magi!


View Profile
September 18, 2014, 10:52:42 PM
 #1791

Ok guys, I understand your concern, if you are a big cpu miners, just don't put all your hashing power into the coin; more people joining the mining is more desirable than a single person who has most of the power.

dev, the problem you think is not a mining problem , it's a economic problem, ppl comes for profit, ppl go away for more profit, maybe you should create a system like PTS, BTSX, ppl just buy the share for profit, not mining,, but i think it's the same thing, ppl pay more fees to rent more efficent CPU , so they should get more profit, it's reasonable. i don't know what do you want , if you really want to help more ppl, you could just give your money to them but not ask them to play a hardwork game, if a man is poor and he don't want to work hard, what would you think? is that man's fault ? or your fault? maybe the only thing we could do is working harder,  as for this coin, maybe we should do more hard work, eg. make more application for this coin and more cooperation with more business, just like the bitcoin did

aloney, I agree with you
Quote
maybe we should do more hard work, eg. make more application for this coin and more cooperation with more business, just like the bitcoin did
, and this is completely reasonable
Quote
ppl pay more fees to rent more efficent CPU , so they should get more profit .

While we are talking about this initial coin distribution stage, I have been thinking of any I can do as to decentralization (well it quite depends). That's the reason I decided the mode of block rewards-difficulty dependence.

Simply the following situation is what I want to see (numbers are just example):

quite good
Quote
all 1000 miner in the same hash level

acceptable
Quote
1000 miner with few big miners

and try to avoid

Quote
100 miners with few big miners

I will post the idea behind the block reward. You guys judge that. I don't want give impression I hate high hash.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
SamWalters
Full Member
***
Offline Offline

Activity: 238
Merit: 100

Sam Mother Fuckin' Walters


View Profile WWW
September 18, 2014, 11:12:51 PM
 #1792

XMG Hello friends,

Out of interest and because I can not mine at the moment (too busy with XMG marketing plans) the following:
Everything works at the moment? Windows, Linux and Ubuntu?
How many miners are currently working?
I have read a number of ideas in the thread regarding the future plans for XMG.
If there are from more good ideas from the community ideas let me know.
Send me a PM or post it in the thread.
FYI the current price of XMG is pretty stable.
Advice do not sell to low. (unless you really need it)
More information will follow.
 Smiley

Thanks for handling the marketing... I am already inclined to help grow as I have setup a network of ads from friends in my network who can advertise heavily throughout the industry. It isn't in full course advertising yet, however, it is dependent on this community working together.

Twitter, reddit, facebook, and external sites that get traffic, should help the growth of magi, not only via bitcointalk, but we must bring in more.

I would like to see 100,000 views in this thread before the end of the month. I think its realistic.  Yes, Windows and Linux. I also have someone looking at a MAC compilation for this coin.

I think if we can setup proper marketing structures, bringing in traffic will help with the growth of the exchange rate.
Investors love coins with solid communities like this... and they are more inclined to help provide liquidity.


Those are good words Sam.
100,000 views is feasible.
Now mining is stable the time has come to invest in promotions and marketing.
Especially if we want Magicoin XMG going to get a special status within the world of Altcoins.
That only ones who can do that, are we with each other.
There are already several ideas. For example, a private Magicoin forum. Containing various topics and private marketplace. Apps for smartphones, games, videos, shops were you can pay with XMG so on and on.

Good ideas or help are always welcome.

Thank you.  I think this thread post count moved fast, so I am going to show you a little teaser video I've been working on to enforce growth and adoption.

Coin Magi Video Teaser - Introduction to the First Hybrid: PoW/PoS-II

I'm still working on the pool to get it to support the network
In the mean time, I came up with this to help spread magi around



Video link: https://www.youtube.com/watch?v=W71FVD6YWM8 (2:04)

Special Thanks to developers of Coin Magi for giving us an opportunity of fair mining!
Credits go to my team who helped me make this video possible with their editing.

Please let me know what you all think, Magi community Smiley

I support Magi the first anti-botnet mining network to give regular miners the fair chance of mining. Talk to #Magi on IRC: https://kiwiirc.com/client/irc.freenode.net/#magi or on BitcoinTalk: https://bitcointalk.org/index.php?topic=735170.0
joelao95
Legendary
*
Offline Offline

Activity: 1134
Merit: 1009


Coin of the Magi!


View Profile
September 18, 2014, 11:29:40 PM
 #1793


OMG,  don't know how those guys are doing it but some of us have barely a few coins to show for 3 days mining.  Need to take the "fair distribution" bit off the headline  LOL.

I freely admit I am new to this cryptocurrency business but it seems to me the 'fairest' way to distribute coins to the most people (thus getting more market penetration) would be to reward based on mining involvement rather than hashing power otherwise someone is going to use their financial leverage to get richer (via renting server groups/ botnet /whatever). 
i.e. have a simple algo that does not require much power and basically slice the coins up by the amount of time people mined rather than the computing power they mined with ?   Would have to come up with some pre-registration account/IP address system to prevent mass account creation but that way 2 people would get roughly the same amount of coin if they mined for the same amount of time and there would not be such a waste of energy resources running server farms?

Am sure someone will point out to me that there are loads of holes in my suggestion, but surely there is a way to 'beat the bots'  :-)



This catches my eye. Simply take a look my posts with some analysis (give me sometime to prepare), and comment if that would be mining involvement. I like this anyway.
Code:
it seems to me the 'fairest' way to distribute coins to the most people (thus getting more market penetration) would be to reward based on mining involvement rather than hashing power


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
joelao95
Legendary
*
Offline Offline

Activity: 1134
Merit: 1009


Coin of the Magi!


View Profile
September 18, 2014, 11:38:52 PM
 #1794

XMG Hello friends,

Out of interest and because I can not mine at the moment (too busy with XMG marketing plans) the following:
Everything works at the moment? Windows, Linux and Ubuntu?
How many miners are currently working?
I have read a number of ideas in the thread regarding the future plans for XMG.
If there are from more good ideas from the community ideas let me know.
Send me a PM or post it in the thread.
FYI the current price of XMG is pretty stable.
Advice do not sell to low. (unless you really need it)
More information will follow.
 Smiley

Thanks for handling the marketing... I am already inclined to help grow as I have setup a network of ads from friends in my network who can advertise heavily throughout the industry. It isn't in full course advertising yet, however, it is dependent on this community working together.

Twitter, reddit, facebook, and external sites that get traffic, should help the growth of magi, not only via bitcointalk, but we must bring in more.

I would like to see 100,000 views in this thread before the end of the month. I think its realistic.  Yes, Windows and Linux. I also have someone looking at a MAC compilation for this coin.

I think if we can setup proper marketing structures, bringing in traffic will help with the growth of the exchange rate.
Investors love coins with solid communities like this... and they are more inclined to help provide liquidity.


Those are good words Sam.
100,000 views is feasible.
Now mining is stable the time has come to invest in promotions and marketing.
Especially if we want Magicoin XMG going to get a special status within the world of Altcoins.
That only ones who can do that, are we with each other.
There are already several ideas. For example, a private Magicoin forum. Containing various topics and private marketplace. Apps for smartphones, games, videos, shops were you can pay with XMG so on and on.

Good ideas or help are always welcome.

Thank you.  I think this thread post count moved fast, so I am going to show you a little teaser video I've been working on to enforce growth and adoption.

Coin Magi Video Teaser - Introduction to the First Hybrid: PoW/PoS-II

I'm still working on the pool to get it to support the network
In the mean time, I came up with this to help spread magi around



Video link: https://www.youtube.com/watch?v=W71FVD6YWM8 (2:04)

Special Thanks to developers of Coin Magi for giving us an opportunity of fair mining!
Credits go to my team who helped me make this video possible with their editing.

Please let me know what you all think, Magi community Smiley


This is very nice, Sam, added to OP.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
Bojcha
Hero Member
*****
Offline Offline

Activity: 774
Merit: 500



View Profile
September 19, 2014, 12:19:53 AM
 #1795

@joelao95
How you define "mining involvement"?

joelao95
Legendary
*
Offline Offline

Activity: 1134
Merit: 1009


Coin of the Magi!


View Profile
September 19, 2014, 12:25:59 AM
 #1796

@joelao95
How you define "mining involvement"?

will take time to post.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
db6
Newbie
*
Offline Offline

Activity: 11
Merit: 0


View Profile
September 19, 2014, 12:34:57 AM
 #1797

@joelao95
How you define "mining involvement"?

Well what I was trying to suggest was that in a theoretical "fair for everyone scenario" participation should be rewarded rather than the payout being based on the ability to generate the largest hash rate (though greater wealth or other means such as botnet).

By "mining involvement" perhaps the act of being connected to the XMG network and mining to a low minimum standard enables more people to gain reward, after all, the excess hashing power people are attempting to achieve in order to get more coins is effectively 'wasted energy'.   
If there was a way to reward a minimum standard of mining e.g. 5kh+ hashespersec, and there would be little extra reward in generating 100kh+ hashespersec then I suggest it would avoid an 'excess' distribution to those who can afford/bot the extremely high hashrates.
In theory this would then leave the coin more in the hands of the community rather than the pump-n-dumpers who just mine to take a quick profit ?

Anyway this is just my speculation I will be very interested to see what Joe's idea is  :-)
paulthetafy
Hero Member
*****
Offline Offline

Activity: 815
Merit: 1000


View Profile
September 19, 2014, 12:45:22 AM
 #1798

@joelao95
How you define "mining involvement"?

Well what I was trying to suggest was that in a theoretical "fair for everyone scenario" participation should be rewarded rather than the payout being based on the ability to generate the largest hash rate (though greater wealth or other means such as botnet).

By "mining involvement" perhaps the act of being connected to the XMG network and mining to a low minimum standard enables more people to gain reward, after all, the excess hashing power people are attempting to achieve in order to get more coins is effectively 'wasted energy'.   
If there was a way to reward a minimum standard of mining e.g. 5kh+ hashespersec, and there would be little extra reward in generating 100kh+ hashespersec then I suggest it would avoid an 'excess' distribution to those who can afford/bot the extremely high hashrates.
In theory this would then leave the coin more in the hands of the community rather than the pump-n-dumpers who just mine to take a quick profit ?

Anyway this is just my speculation I will be very interested to see what Joe's idea is  :-)


How about just take hardware mining out of it entirely.... Let the dev put 100,000 coins on an exchange and sell them for X, then have the remaining distribution of coins be done through proof of stake at a reasonably high % (100% per year at least).  That way people get out of it what they put in financially.  There is no advantage for those who can access free mining resources and everyone gets the same % reward.  Not suggesting that approach for this coin, but it does address the ability for some people to access free mining.  The amount raised fro selling the coins could then be used to buy more, propping up the price, and used as part of the PoS distribution.  Just a thought Smiley

paulthetafy
Hero Member
*****
Offline Offline

Activity: 815
Merit: 1000


View Profile
September 19, 2014, 01:36:42 AM
 #1799

Joe, I have been doing some further testing and I now concur with you that the value for netmhashps seems to be accurate.  The networkkhashps is not.

Based on that, and using an Amazon AWS 8-core instance at ~62 khash/s as a reference, this equates to approximately 12500 cores running on the network.  It's likely that the top few miners on suprnova are using AWS instances, between 100-250 instances to give 6-15 MH.  Assuming they are using spot rates of 0.065c per hour, and with a return of approx 500 XMG / MH / day (3000 coins a day for 6MH) ,and a BTC price of $420, the break-even selling price would be approximately 0.00012 XMG/BTC.

With buys on cryptoine significantly below this, and with little volume anyway, this is not even close to being profitable to mine with rented hardware.  This is a positive thing in some respects, but as soon as these miners realise this and drop out, difficulty will drop significantly and so will rewards.  The coin distribution rate overall should not be affected as the diff/reward ratio is linear, but this reinforces my point that I posted yesterday that the diff/reward ratio is too low to support the desired mint rate.  You're not going to get to 500/block because diff wont rise enough because not enough miners will join the network using VPS's as it is not profitable Smiley

Anyway, thought you would want some further feedback. 

SamWalters
Full Member
***
Offline Offline

Activity: 238
Merit: 100

Sam Mother Fuckin' Walters


View Profile WWW
September 19, 2014, 01:37:01 AM
 #1800

I just saw this message from nonce pool

"We have released a new miner with 10% more speed @ https://github.com/noncepool/m7magi-cpuminer"

Source: http://magi.nonce-pool.com/index.php?page=account&action=earnings

Interesting... Thanks nonce!

I support Magi the first anti-botnet mining network to give regular miners the fair chance of mining. Talk to #Magi on IRC: https://kiwiirc.com/client/irc.freenode.net/#magi or on BitcoinTalk: https://bitcointalk.org/index.php?topic=735170.0
Pages: « 1 ... 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 [90] 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 ... 1270 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!