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Author Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]  (Read 1834086 times)
SamWalters
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September 24, 2014, 06:47:03 AM
 #2201

I really do not see how this coin rewards the smaller miners. I myself being a small miner with only about 312khs worth of cpu power i still get alot and i mean ALOT less then people who has massive farms pulling 5-10mhs like seen on supernova's pool. So can someone please explain to me as to how XMG actually benifits smaller miners as the way its currently working does not really support that theory........

I explained it I believe in my other post. Hold up I'll re-post it.

Basically once a lot more new miners are introduced.. we are still missing over 2/3 of the entire industry.
Although magi does have a good community about 300 - 400 peak workers across both pools (nonce/suprnova?)

once we can obtain a higher level of miners, it will increase rewards, that is my understanding or theory.. 



The idea is once more miners like me and you, like lion, like fart, joe, and like the hundreds of others who are mining or in this community.. have thought to realize, we are very early into the game.. as it will need more new comers to start generating along side the community. This is why I believe we should build up awareness campaigns like those videos I've been working on...

We need to also have positive effects in other threads maybe motivating more people to take a look at the mining potential and lets gradually grow the rewards ..

10 xmg then comes 20 xmg.. then 50 xmg.. then 100..

The goal should be that we can make the different even if the rewards are higher, the adoption phase grows, increasing the value beyond what it is now...

The coin is already listed on a decent exchange.. what was their rate? 0.10 % that is awesome, and its performing well...
now imagine more adoption through word of mouth... this can be very much a benefit to magi community.

Getting listed here so fast is great news: http://coinmarketcap.com/currencies/magi

Look at the charts, magi is beyond under valued between all those coins above it...

I don't see much competition under 'reddcoin' and it still didn't have the solutions magi does.


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
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joelao95
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September 24, 2014, 06:49:42 AM
 #2202

I really do not see how this coin rewards the smaller miners. I myself being a small miner with only about 312khs worth of cpu power i still get alot and i mean ALOT less then people who has massive farms pulling 5-10mhs like seen on supernova's pool. So can someone please explain to me as to how XMG actually benifits smaller miners as the way its currently working does not really support that theory........

Understood this situation; that's really a challenge to get around this issue, same issue all other coins have. I've been trying thinking hard, really no direct way out (the reward system is not designed low all the time). What I don't understand is if a miner mines coin A is more profitable than mining coin B, why he stays mining coin B, even when he uses free electricity.

Edit, we are initiating a campaign to reward cpuminers, that may compensate some coins.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
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September 24, 2014, 07:16:26 AM
 #2203

[Coin swap and brief of proof of mining campaign]

[Finalize] 10/07: Coin swap final, old Magicoin : XMG = 16 : 1, total swap coins no more than 10% of total coins in circulation, escrow will be used to hold unswapped coins: https://bitcointalk.org/index.php?topic=821170.msg9190490#msg9190490; unswapped coins (except some bounties we paid, like translation, video, etc) will be destroyed. I believe this is very much a guarantee for the miners/investors; more or less we have compromised prior holders benefits.

We offer an opportunity for prior magicoin holders; we leave out some funds/bounties for active members in the MagiCommunity. Contact me for discussion on the details.

Total swapped coins will be only 0.9% of total coin supply

Prior discussion has raised a request from our prior Magicoin holders with respect to coin swap. So here we are initating the swap. In addition to XMG swapping, we request prior Magicoin holders to allocate a portion of funds to support a proof of mining campaign, currently under planning. This campaign is to protect the network, and in the meantime reward miners for their efforts. As you all can see, we have been through various issues/complaints, though we are now at "safe", we are subject to miner leaving/low-block reward complaints too. Here, we kindly ask giveaway a portion of XMG coins to support our miners (CPU). I believe all Magicoin supporters understood the importance of the cpuminers; only with the reviving of XMG community comes with the best return to our prior holders.

Coin swap will be done approximately in 5 months, with 5% swapped each week. The precondition of carrying out coin swap is not giving impacts on the XMG price. We may pause swapping any time if we see price degradation due to coin swap.

How to swap

1) Send Magicoins to: MWhrAX6sC66361s2kt57CApxpSzEsCRznM
2) Fill out this form: https://docs.google.com/forms/d/1xfBW84n4Q3gJvhmC3YzYxafxoT0iA3Vb0o2g1-5ZOfA/viewform?usp=send_form
3) We will send out 5% equivalent XMG in a week, which further splits into few parts being sent a few times in a week long.

About coin swap

# Total number of coins to be swapped: 1,237,505 XMG
# Planned coins to swap in the following week: 5% of total, i.e., 61,875 XMG
# Swap ratio: 4 Magicoin : 1 XMG

As of this time there are more than 181,533 freshly minted coin. Swap coins to be sent in a week is about 34 % of coins in circulation.

Swap ratio
(let me know questions you may have regarding the ratio)

According to the total existing Magicoins are 4.5 million, the swap ratio should be 3.6363 Magicoin : 1 XMG. As you can see, we remain a portion of XMG to support the campaign. For this reason, we decide swap ratio: 4 Magicoin : 1 XMG. This yields 112,505 XMG unswapped, available to support proof of mining campaign.

Proof of mining campaign

The campaign is still under planning. Only CPU miners can participate this campaign. Each miner is responsible for contributing a number of hash rate to the network and should remain mining in a designated period. Each participant will receive a share of available funds (about 112,505 XMG right now form Magicoin holder's conntribution, plus 2K XMG donation (by Lionheart78)). Additional XMG funds may be available from unswapped coins.


  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
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September 24, 2014, 07:41:23 AM
 #2204

I'm fine with the continuation of the coin swap campaign.

Here is my thoughts so far - Before launch of Magi and a week after...
- Dev got a successful new algo m7m (PoW) with an interesting phase payout -- up to 300 XMG and phase 2 - 10 XMG
- Dev has made this a hybrid PoS-ii so it gets even more interesting once this kicks in..
- Pools successfully adopted new algo (nonce-pool) released the pool miner support.
- Community continues to make tweaked versions to help performance of mining
- Magi has many things working for it right now.. Proof of Action campaign by CryptoTycoons...
- I'm working with Ron Monk to get some support for an airdrop in Magi...  and more videos...
- Coin Market Cap just listed it http://coinmarketcap.com/currencies/magi
- Exchange came after launch to support it https://cryptoine.com/trade/xmg_btc (I like the low fees)
- Magi dev continues to think about different reward models for regular miners and investors.
- Dev continues to bring in the priority of fighting large cpu farms to give back fair distribution.

Community continues to collaborate..  I'm all good with the coin swap.

That is my summary so far ..

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
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September 24, 2014, 09:25:41 AM
 #2205

XMG price keeps increasing.

SamWalters
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September 24, 2014, 09:31:04 AM
 #2206

XMG price keeps increasing.

alright listed on coinmarketcap Smiley  http://coinmarketcap.com/currencies/magi/

People haven't heard of it yet..  only the beginning..

It does need to be in the 'Change (24 h)' top 3 or something so investors can look into it...
based on the trend its going, if it keeps accelerating it can be in the top 3 for the 24 hour charts on http://coinmarketcap.com/all/views/all/


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
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September 24, 2014, 10:52:11 AM
 #2207

great, what the price xmg?

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September 24, 2014, 11:14:50 AM
 #2208

great, what the price xmg?
Here you can see the price of XMG.
Check https://cryptoine.com/trade/xmg_btc


  Coin MAGI  . XMG  
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓ XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8
  ANN THREAD MAGIPAY FAQ FORUM
BTC 1J7wFce3Ve8iPoY3BXQRvvLLcg6mfWSQHz
SaracenRomero213
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September 24, 2014, 11:21:49 AM
 #2209

On behalf of CoinMagi, CryptoTycoons presents to you CoinMagi’s first Proof of Action Campaign!

Participants will receive 2.5XMG for each point he or she earns!
Simply click on each of the buttons below, perform the required action, and get free XMG!

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QRX|
|
QURREX - QRXTest MVP |Source
www.qurrex.com

████
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AltcoinInvestor
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September 24, 2014, 01:02:13 PM
 #2210

This coin looks good to invest some btc on it.
I'm buying a few under 5k satoshi.

Let's see how much make this coin to me in a week...

I've doubled my money in 3 days. Let's see what happens in one week Smiley
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September 24, 2014, 01:27:45 PM
 #2211

This coin looks good to invest some btc on it.
I'm buying a few under 5k satoshi.

Let's see how much make this coin to me in a week...

I've doubled my money in 3 days. Let's see what happens in one week Smiley

See what will happen in a few weeks!! Wink


  Coin MAGI  . XMG  
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓ XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8
  ANN THREAD MAGIPAY FAQ FORUM
BTC 1J7wFce3Ve8iPoY3BXQRvvLLcg6mfWSQHz
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September 24, 2014, 01:40:06 PM
 #2212

hi guys!

found a short linux mining setup tutorial.

check it out here:
http://www.satoshis.guru/?p=130
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September 24, 2014, 01:54:01 PM
 #2213

hi guys!

found a short linux mining setup tutorial.

check it out here:
http://www.satoshis.guru/?p=130

That might be not enough. Might need some more libraries. As a total Linux newbie, I've gathered some feedback from community and Google. I may be overkilling but someone might find this useful:


sudo su
apt-get update
sudo apt-get install git build-essential libboost-all-dev libcurl4-openssl-dev libdb5.1-dev libdb5.1++-dev
sudo apt-get install g++
apt-get install git
sudo apt-get install  libcurl4-nss-dev
sudo apt-get install libgmp-dev 
apt-get install make
apt-get install automake
git clone https://github.com/noncepool/m7magi-cpuminer
cd m7magi-cpuminer
sh autogen.sh
./configure
make
./minerd.......
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September 24, 2014, 01:57:05 PM
 #2214

hi guys!

found a short linux mining setup tutorial.

check it out here:
http://www.satoshis.guru/?p=130

That might be not enough. Might need some more libraries. As a total Linux newbie, I've gathered some feedback from community and Google. I may be overkilling but someone might find this useful:




for me this one worked well. i had some other altcoin wallets running on my linux and indeed only libgmp was missing Smiley
but your instructions will surely help some other guys with other setups
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September 24, 2014, 02:11:40 PM
 #2215

hi guys!

found a short linux mining setup tutorial.

check it out here:
http://www.satoshis.guru/?p=130

That might be not enough. Might need some more libraries. As a total Linux newbie, I've gathered some feedback from community and Google. I may be overkilling but someone might find this useful:




for me this one worked well. i had some other altcoin wallets running on my linux and indeed only libgmp was missing Smiley
but your instructions will surely help some other guys with other setups

This git source as mentioned by tersagun is an optimized one,

https://github.com/noncepool/m7magi-cpuminer

You can try out both, and let us know the difference in your machine?

In a few last posts there were a lot optimizations going on windows; I wish we can see some optimizations for linux too. I have an AMD 8350 running in Xubuntu giving about 90 kh/s with 8 cores, while another people ran 6 cores getting 96 kh/s in Ubuntu. So there is a difference in different linux flavors for sure.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
MrUnzO
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September 24, 2014, 03:11:22 PM
 #2216

Dev, what is difficulty depend on? It grow up and sometime go down...
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September 24, 2014, 03:22:04 PM
 #2217

Dev, what is difficulty depend on? It grow up and sometime go down...

I refer to Sy's post.
net hashrate is calculated by blocktime vs diff, if you got a fast block the net hashrate is high, like a lucky block in 20% of the expected time -> net hashrate +80%, next block is on time again so the net hashrate is back -80%, it always jumps all over the place short term.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
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September 24, 2014, 03:41:50 PM
 #2218

Dev, what is difficulty depend on? It grow up and sometime go down...

I refer to Sy's post.
net hashrate is calculated by blocktime vs diff, if you got a fast block the net hashrate is high, like a lucky block in 20% of the expected time -> net hashrate +80%, next block is on time again so the net hashrate is back -80%, it always jumps all over the place short term.

Thank!! But I'm not clear,  can you explain it again?

I mean where is difficulty came from?
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September 24, 2014, 05:53:13 PM
 #2219

Dev, what is difficulty depend on? It grow up and sometime go down...

I refer to Sy's post.
net hashrate is calculated by blocktime vs diff, if you got a fast block the net hashrate is high, like a lucky block in 20% of the expected time -> net hashrate +80%, next block is on time again so the net hashrate is back -80%, it always jumps all over the place short term.

Thank!! But I'm not clear,  can you explain it again?

I mean where is difficulty came from?

You can easily talk to the developer in the IRC


  Coin MAGI  . XMG  
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓ XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8
  ANN THREAD MAGIPAY FAQ FORUM
BTC 1J7wFce3Ve8iPoY3BXQRvvLLcg6mfWSQHz
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September 24, 2014, 06:21:58 PM
 #2220

Swap started!
all cpu's hashing can not wait to see where this goes.
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