[ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]

[opossum]

This is a quick description of the new design I explained to others. Since people concern the net hash, I post this first.

We can divide miners into three types: A. individual CPU miners, B. CPU farm, and C. GPU. Assume their hashes are 50MH/s, 50MH/s, 100MH/s for A, B, C, respectively. The block reward is adjusted so that it has maximum value when net hash = 50 MH/s, while block reward is zero, when net hash > 50 MHs. It will be clear then, when any two of them, or all of them (A, B, C) mining at the same time will cause zero reward. If A is keeping mining and won't stop (even with zero rewards), then B and C must reduce their hash to get their mining rewards (provided that B and C cannot afford days no-mining-returns, since they have higher mining costs than individual miners of A).

In reality, we have to adjust the numbers to better fit in the real case.

Everyone should carefully read the idea behind this update. I've seen people just ignore reading. If you feel something happening, we should be thinking solutions in addition to raising issues.

The above is just a simple description.

XMG won't be minted if network hash > 50 Mh/s (not accurate number but close).

You are punishing all the miners this way, limit individual miners instead of network.

[joelao95]

This is a quick description of the new design I explained to others. Since people concern the net hash, I post this first.

We can divide miners into three types: A. individual CPU miners, B. CPU farm, and C. GPU. Assume their hashes are 50MH/s, 50MH/s, 100MH/s for A, B, C, respectively. The block reward is adjusted so that it has maximum value when net hash = 50 MH/s, while block reward is zero, when net hash > 50 MHs. It will be clear then, when any two of them, or all of them (A, B, C) mining at the same time will cause zero reward. If A is keeping mining and won't stop (even with zero rewards), then B and C must reduce their hash to get their mining rewards (provided that B and C cannot afford days no-mining-returns, since they have higher mining costs than individual miners of A).

In reality, we have to adjust the numbers to better fit in the real case.

Everyone should carefully read the idea behind this update. I've seen people just ignore reading. If you feel something happening, we should be thinking solutions in addition to raising issues.

The above is just a simple description.

XMG won't be minted if network hash > 50 Mh/s (not accurate number but close).

You are punishing all the miners this way, limit individual miners instead of network.

Not like this, why do you think limit individual miners; I would see the exit of the big miners first! See individual miners can mine with few coins in 1-2 days (appreciated miners sticking to the coin so far), can the big miners mine with few coins or nothing in 1-2 days??

This is risky though, but this is better than doing nothing, simply watching big miners.

I've explained this idea to a few experienced people, they think this is innovative and they do worry about limits, but why not try it out?

[opossum]

Lets see what happens after block 2700, at the moment there is no point to mine this coin if you have 1 or 2 rigs.

[joelao95]

Lets see what happens after block 2700, at the moment there is no point to mine this coin if you have 1 or 2 rigs.

Please contribute some hash; there is allowance of hash for the network; if individual miners are not there, big miners will take over; the network will generate 300 XMG/block (most likely at some level), don't miss this, simply keep mining for few days then let's see what happen. The adjustment would take a while to be done, so please hold on.

[joelao95]

All please wait for my proof of campaign post, that is exactly designed for the purpose I mentioned; and only individual miners can participate. We will giveaway a portion of XMG funds to participants.

[Spexx]

Release 1.0 Beta-Spexx
Windows 64 bit XMG solo/stratum pool miner.

Newly compiled version for testing available here:-

https://www.dropbox.com/s/hiadf8o5u7bsit7/XMGpoolminerWin64.rar?dl=0

This was compiled with Cygwin and has a number of required dll files included.

Extract the package using e.g Winrar to the folder of your choice.

More info and sample startup command lines are in the read.me file included.

Please do let me know how you get on with this version, whether good, bad or indifferent. This version is still under test and I will have some suggestions for tweaking the performance in due course. First of all I am interested in how people get on just by switching to this version, compared to the performance of other versions, using the same startup command as they do at present. Happy hashing.

I tested it, runs at around 35 Kh/s compared to the one in the OP (~75Kh/s) with AMD FX 8350

That can't be right. It has already been tested on a FX 8350 at 90 KH/s. Are you using 8 threads?

[pcshared]

I'm CPU core i5
my hashrate 90

This is true???

[5m4ru]

I'm CPU core i5
my hashrate 90

This is true???

2.4ghzX4 oc to 3.06ghzX4 = +-40~45hash/s

[MarcusDe]

All please wait for my proof of campaign post, that is exactly designed for the purpose I mentioned; and only individual miners can participate. We will giveaway a portion of XMG funds to participants.

Sure, I'll mine and won't go anywere :-)

[cakir]

is the pos started?
my wallet is minting...

[111magic]

is the pos started?
my wallet is minting...

Restart wallet and check again.
My wallet isn't.

[GamerMiner]

Hi guys !

I've seen various miners here, which one have the best performance ? i've a i7 4770k

There's a lot of progress here, great 

[tersagun]

The thing with the new approach is, I'm a personal CPU miner by renting VPS'.

So as long as there is a risk of block reward being 0, I'll not be mining with my humble hashrate as well. It may only favor hobby miner which are minin on their desktop PC's. Which is not necessariyle a bad thing though, it's just a design decision.

[MarcusDe]

Hi guys !

I've seen various miners here, which one have the best performance ? i've a i7 4770k

There's a lot of progress here, great  

I don;t know if there are better ones, but try my haswell ;-)

http://graymines.net/miners/

Download 0921 version, win threads and exe-haswell version, change extension to .exe, put that in 1 folder and run.
I'll sort stuff, but atm there is too much alcohol around :-P

[Bojcha]

This network hashrate jumps.. huh.. and that's solo or there is pool i don't know about.

[shajfy769]

I have question about mining.
So i started mining and will my electric bill be higher after few days mining or will still be the same?

[111magic]

Best Magicoin XMG friends,

I follow Magicoin from the beginning.
After a lot of work from the developer the launch was successful.
There was a lot of pressure on him.
Logical because he wants to please everyone.
There are many questions to the developer.
He does his best to answer all questions and resolve any problems.
He is also online daily.
This is a sign of a good developer.
I have had seen otherwise.
Unfortunately, some posts falling away quick for new posts that are placed. 
This while questions are asked to the community that is involved in decisions.
With regard to the donations I think it could be better.
Not to mention that there are some people who are very helpful with XMG. Very good and nice to see.
Below the list of donations.

Lionheart78        10,000 Magicoins
Dukektm              5000 Magicoins
111magic            0.025 BTC


I hope that all of us in this fine and special community has the same purpose and we can make Magicoin XMG a serious competitor in the altcoinworld.
The developer has indicated below, open and transparent in order to cope with the donations.
So if you feel involved in this community please donate. Every little helps.
Make sure your name is on the donation list.
Thanks for reading this post.

[09/19]

Some plans

This is the 5th day since launch; it won't be very necessary at this time to focus on big exchanges, but going forward, some works should be done upfront.
1) we are forging the marketing plans, one of those will be the better organization of twitter, facebook, reddit, and maintain regular updates;
2) plan to get on few more exchanges; swisscex and c-cex are two of them;
3) I've been in touch with some magi followers, some of them have provided us very nice supports; for example, ex33s offered us the dice game without asking for any bounties. Also someone mentioned working on Android wallets, while what he wants is to see the success of Magi. It's my pleasure to have them, and my work to make magi staying with user base like them.

Among these tasks, block explorer and rich list will be a more urgent one since it is needed to get into coinmarketcap and most of exchanges (e.g., bittrex). I've contacted http://blockexperts.com about this, with a charge of 0.1 BTC to create and host the explorer. It should be done soon once confirmed. The following plans will be exchanges then.

A public pledge

I'd like to send a pledge out for fundraising if you can help us. We current have limited access to magi funds since that is based coin swap, while coin swap has been delayed significantly. In some cases, BTC is needed to help promotion and importantly to get us on exchanges. Here we ask for your supports to carrier out various tasks:
1) Articles, media, video
2) promotions in social networks (registered PoA, promotion in twitter will spend some BTC too)
3) exchanges (likely somewhere to spend funds to promote and get people into this aspect)
4) reaching out people to apps dev (BTC will be likely an effective way of doing this)
5) and more ...

Wallet address:
BTC - 188AmugttD1jfy2xYNy6muTzVzYha1JEuq
XMG - 95V9eZnrghtEriGUhBwwEuqMbDm1HBJ58u

We will record all donators name, and BTC/XMG address. Your donation won't be completely free, rather we will return a portion in the form of BTC or XMG back to you later on, once we can, according to your donating weight.

MagiTeam

Magi team will be created coming out from the community. Magi had a good start, and will continue to grow. With few new features, cpu mining, coin distribution mode, and the PoS-II (we didn't talk about it much yet), magi will be a well-formed base to allow it grow up. Anyone who can contribute to magi, please contact me for bounties, or you want kindly donate your contribution (we will maintain a list for this for future disbursement when we have funds and are able to support).

Anyone who is interested to join us please send me a PM; out of Magi already had, we welcome coin/apps dev to enhance this aspect. We will also reach out other coins for possible cooperation.

Any suggestions to make magi better are welcome!

[shajfy769]

I have question about mining..
So i started mining and will my electric bill be higher after few days mining or will still be the same?

[GamerMiner]

Thanks a lot

I don;t know if there are better ones, but try my haswell ;-)

http://graymines.net/miners/

Download 0921 version, win threads and exe-haswell version, change extension to .exe, put that in 1 folder and run.
I'll sort stuff, but atm there is too much alcohol around :-P

[bearishtrader]

I am mining with:
1. Dell Poweredge C6100 server I got from eBay with 4 nodes and two 4 core Intel Xeon L5420 CPUs per node.  Hash rate per node=~70 Kh/s
    Here is the cpubenchmark.com comparison for the Dual Xeon L5420 compared to other CPUs: https://cpubenchmark.net/cpu.php?cpu=Intel+Xeon+L5420+%40+2.50GHz&id=1259&cpuCount=2
2. Dell Poweredge C6105 server (eBay) with 3 Nodes, and two 6 core AMD Opteron 2419EE (North Bridge) variety. Hash rate per node=~77Kh/s
    Here is the cpubenchmark.com comparison for the Dual AMD Opteron 2419EE compared to other CPUs: http://www.cpubenchmark.net/cpu.php?cpu=AMD+Opteron+2419&id=1858&cpuCount=2

You have probably seen me on nonce-pool hashing under the same moniker I use here.  Current hash rate for these two servers is 524.07kH/s combined.

One server draws at max load about 450 watts for 4 nodes.  For 3 nodes it will be less than 450 watts.

I was previously mining ducknote with these, here is the YouTube video I made: http://youtu.be/zmvVZMRcvFE

Counter-intuitively, the AMD Opteron CPU is cheaper but hashes quicker on M7M algo.
The more expensive Xeon CPU will hash quicker on cryptonight algorithm than the Opteron CPU (as expected).

JoeLao the 3-node Dell Poweredge C6105 is dirt cheap looks junky on the outside (refurbished of course) but it works good, if you need a spare development server.  
Here is the eBay link they still have a ton of these (48GB RAM total, so 16GB Ram/node, comes with 3 250GB HD one for each node):
http://www.ebay.com/itm/DELL-C6105-CLOUD-SERVER-6x-1-8GHz-AMD-6-CORE-48GB-RAM-3x-250GB-C6100-SERIES-/171187983886?pt=COMP_EN_Servers&hash=item27db99560e