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

[111magic]

COin has dropped in price a lot. This is a good price to buy in. This is going to be one of the best coins.

I agree. This time its better to buy than sell.
I mean Magi has only launched a little over 3 weeks ago
There are too many good developments on the way. So I sell nothing!  

[Sy]

Since no one has done this before, i made a script to look through the past blocks so you can work with numbers, not guesses.

480 blocks is roughly a day:

80 blocks back: Avg: 36.16 Total: 2893.0091
160 blocks back: Avg: 29.31 Total: 4689.0194
240 blocks back: Avg: 35.57 Total: 8537.0248
320 blocks back: Avg: 28.38 Total: 9081.0355
400 blocks back: Avg: 29.02 Total: 11609.054
480 blocks back: Avg: 40.33 Total: 19357.0664

560 blocks back: Avg: 36.99 Total: 20712.0732
640 blocks back: Avg: 38.11 Total: 24389.0877
720 blocks back: Avg: 39.02 Total: 28097.0928
800 blocks back: Avg: 38.51 Total: 30811.0986
880 blocks back: Avg: 35.67 Total: 31389.106
960 blocks back: Avg: 34.15 Total: 32781.114

1040 blocks back: Avg: 33.26 Total: 34595.1183
1120 blocks back: Avg: 32.28 Total: 36149.1268
1200 blocks back: Avg: 30.82 Total: 36980.1351
1280 blocks back: Avg: 30.96 Total: 39632.14
1360 blocks back: Avg: 30.65 Total: 41679.1504
1440 blocks back: Avg: 29.88 Total: 43033.159

1520 blocks back: Avg: 29.05 Total: 44163.17
1600 blocks back: Avg: 28.54 Total: 45662.1744
1680 blocks back: Avg: 28.37 Total: 47659.1992
1760 blocks back: Avg: 29.37 Total: 51683.2131
1840 blocks back: Avg: 30.85 Total: 56756.2216
1920 blocks back: Avg: 31.18 Total: 59870.2368

So the avg over 4 days is around 30 XMG per block and 14967 per day.

Adding the avg price of 0.00008 to the equation results in ~1 BTC volume per day which is way above the current trading volume.

[ruditattara]

time to buy

[SamWalters]

Great feedback Joe thank you. This is all great talk, this is what already sets magi apart against 97% of the coins. Once the other 75% of the existing industry hears the mining potentials of magi, and investors see this continued progress, we as a community will be on the right track.

This is all working up to be that way.. keep it up guys, everyone keep updating reports and spread around the PoM campaign

PROOF OF MINING CAMPAIGN MAGI - join in here: https://bitcointalk.org/index.php?topic=802681.0

The big miners will try to come because they know the benefits this new algo brings to the table. We can try to a little different concept...

This is just my suggestion... what about lowering the block payouts when higher hash comes, then go back to normal when it levels out?  Because the potential of the big miners dumping is more than likely.. so even if the regular miners are getting essentially less XMG until those miners leave, it is keeping the price point stable enough and attracting the interest of the long term growth of magi.  So.. it wouldn't be hurting the overall ROI as they would be if they were allowed to continue...

So I agree, restricting hash rate or blocking payout after 'X' amount of hashrate or another method, is very logical in its success.

Just my thought. I don't see it as a big problem, but it can be once more people find out about magi  !

Any ideas guys?

It might be worth to get a heavier sharpness in cutting off rewards when big miners come to the network. However, the reason of big miners staying in pools could be because of the fluctuation of net hashrate. The fluctuation causes the average block reward higher than the minimum, that seems still attractive to big miners. (general miners will be happy, but remember big miners will be more happy with that).

According to the diff vs time graph, the lowest diff is around 2, corresponding to block reward of ~200 XMG. diff = 2 means hashrate is a little bit less than 50 MH/s. Notice that the block reward will remain to be 5 XMG if hashrate > 55 MH/s. That being said, if we add 10 MH/s into the network, what gonna happen? The minimum net hashrate will be 60 MH/s, block reward will be at 5 XMG; surely this is a bad news to general miners, but will be rather worse to big miners (I assume they do care about the earnings, not something like unbelievable crazy guys).

So that's why we need the PoM campaign! All, please contribute the hashrate as much as possible, and sign up the campaign.

[Spexx]

Great feedback Joe thank you. This is all great talk, this is what already sets magi apart against 97% of the coins. Once the other 75% of the existing industry hears the mining potentials of magi, and investors see this continued progress, we as a community will be on the right track.

This is all working up to be that way.. keep it up guys, everyone keep updating reports and spread around the PoM campaign

PROOF OF MINING CAMPAIGN MAGI - join in here: https://bitcointalk.org/index.php?topic=802681.0

The big miners will try to come because they know the benefits this new algo brings to the table. We can try to a little different concept...

This is just my suggestion... what about lowering the block payouts when higher hash comes, then go back to normal when it levels out?  Because the potential of the big miners dumping is more than likely.. so even if the regular miners are getting essentially less XMG until those miners leave, it is keeping the price point stable enough and attracting the interest of the long term growth of magi.  So.. it wouldn't be hurting the overall ROI as they would be if they were allowed to continue...

So I agree, restricting hash rate or blocking payout after 'X' amount of hashrate or another method, is very logical in its success.

Just my thought. I don't see it as a big problem, but it can be once more people find out about magi  !

Any ideas guys?

It might be worth to get a heavier sharpness in cutting off rewards when big miners come to the network. However, the reason of big miners staying in pools could be because of the fluctuation of net hashrate. The fluctuation causes the average block reward higher than the minimum, that seems still attractive to big miners. (general miners will be happy, but remember big miners will be more happy with that).

According to the diff vs time graph, the lowest diff is around 2, corresponding to block reward of ~200 XMG. diff = 2 means hashrate is a little bit less than 50 MH/s. Notice that the block reward will remain to be 5 XMG if hashrate > 55 MH/s. That being said, if we add 10 MH/s into the network, what gonna happen? The minimum net hashrate will be 60 MH/s, block reward will be at 5 XMG; surely this is a bad news to general miners, but will be rather worse to big miners (I assume they do care about the earnings, not something like unbelievable crazy guys).

So that's why we need the PoM campaign! All, please contribute the hashrate as much as possible, and sign up the campaign.

This community is the coin's strength. Long live Magi. Observing the wild fluctuation in net hash rate (and thus the block difficulty) has given me a few ideas - not all of them good ones - but I would like to see a smoother contour to the graph. Am I right in thinking that the net hash rate is estimated from the time taken to mine the previous block? It certainly seems that way. My best thought was to alter this so that the net hash rate be calculated from the average time to mine the previous 3, 4 or 5 blocks say, which ought to smooth out the graph considerably and be more representative of the trend. Doing this would probably result in there being no blocks with a reward higher than 5 and discourage the big miners - even the obstinate ones. I like the block reward system as it is and would not want to see any change in that just yet, so the only change I am thinking of is the way the net hash is calculated - a small tweak. From the current stats on the pools, if the big miners restricted their hash rate to just 2 Mh/s then it would shave off about 20 Mh/s from the total. Similarly, if they were to restrict themselves to 1.5 Mh/s it would shave off about 30 Mh/s. This would still not be enough to get the average net hash rate into the optimum range around 45 Mh/s most of the time but would certainly be an improvement. The big miners need to understand that throwing too much hash at this coin is counter-productive. That one big obstinate anonymous miner throwing 10+ Mh/s at it could be using just a tenth of that hash and would still be in with a very good share of a block reward that is sixty times the minimum value. I am hoping that this message gets across sometime soon. Use less energy and reap greater rewards - work smart, not hard and stop using a sledgehammer to crack a nut.

[restless]

which miner is currently fastest for Haswell cpus ?

[teamcryptonator]

Now listing XMG on Cryptonator https://www.cryptonator.com/rates/XMG-BTC

[joelao95]

Great feedback Joe thank you. This is all great talk, this is what already sets magi apart against 97% of the coins. Once the other 75% of the existing industry hears the mining potentials of magi, and investors see this continued progress, we as a community will be on the right track.

This is all working up to be that way.. keep it up guys, everyone keep updating reports and spread around the PoM campaign

PROOF OF MINING CAMPAIGN MAGI - join in here: https://bitcointalk.org/index.php?topic=802681.0

bump up PoM

[joelao95]

This community is the coin's strength. Long live Magi. Observing the wild fluctuation in net hash rate (and thus the block difficulty) has given me a few ideas - not all of them good ones - but I would like to see a smoother contour to the graph. Am I right in thinking that the net hash rate is estimated from the time taken to mine the previous block? It certainly seems that way. My best thought was to alter this so that the net hash rate be calculated from the average time to mine the previous 3, 4 or 5 blocks say, which ought to smooth out the graph considerably and be more representative of the trend. Doing this would probably result in there being no blocks with a reward higher than 5 and discourage the big miners - even the obstinate ones. I like the block reward system as it is and would not want to see any change in that just yet, so the only change I am thinking of is the way the net hash is calculated - a small tweak. From the current stats on the pools, if the big miners restricted their hash rate to just 2 Mh/s then it would shave off about 20 Mh/s from the total. Similarly, if they were to restrict themselves to 1.5 Mh/s it would shave off about 30 Mh/s. This would still not be enough to get the average net hash rate into the optimum range around 45 Mh/s most of the time but would certainly be an improvement. The big miners need to understand that throwing too much hash at this coin is counter-productive. That one big obstinate anonymous miner throwing 10+ Mh/s at it could be using just a tenth of that hash and would still be in with a very good share of a block reward that is sixty times the minimum value. I am hoping that this message gets across sometime soon. Use less energy and reap greater rewards - work smart, not hard and stop using a sledgehammer to crack a nut.

Good idea, Spexx, will look into the difficulty adjustment approach to smooth out the fluctuation.

[joelao95]

Now listing XMG on Cryptonator https://www.cryptonator.com/rates/XMG-BTC

Thanks, added to the op.

[joelao95]

which miner is currently fastest for Haswell cpus ?

We have few senior guys here on the optimizing things. Spexx, MarcusDe, could you take a look? and evilmuffinman too? Cheers.

[SamWalters]

Now listing XMG on Cryptonator https://www.cryptonator.com/rates/XMG-BTC

add cryptonine's exchange to the charts... 
https://cryptoine.com/trade/xmg_btc

[111magic]

Now listing XMG on Cryptonator https://www.cryptonator.com/rates/XMG-BTC

add cryptonine's exchange to the charts... 
https://cryptoine.com/trade/xmg_btc

Another exchange? Thats cool.
XMG has not even launched one month ago.
It seems like every day the future of the Magi will become more beautiful
I know one thing for certain. Magi has the most beautiful community and a very passionate and good developer.
This community will continue to expand.

[Zlush1337]

I'm trying to setup a VPS, but I don't recive the confirmation E-Mail (https://www.digitalocean.com/?refcode=0881d086fee6) 
anyone with the same problem?

[2cV5S3zAuz]

I'm trying to setup a VPS, but I don't recive the confirmation E-Mail (https://www.digitalocean.com/?refcode=0881d086fee6) 
anyone with the same problem?

I had to wait for a small period of time too. Check your spamm folder too.
cheers.

[jawitech]

I'm trying to setup a VPS, but I don't recive the confirmation E-Mail (https://www.digitalocean.com/?refcode=0881d086fee6) 
anyone with the same problem?

Took me some time 'til it arrived. Seems to be normal behavior.

[IMJim]

Hey all..........been away for a couple weeks.  How are things going?  Couldn't catch up on the 30+ new pages, what is the latest plan with the swap?  I almost forgot about that.

[Spexx]

which miner is currently fastest for Haswell cpus ?

We have few senior guys here on the optimizing things. Spexx, MarcusDe, could you take a look? and evilmuffinman too? Cheers.

The miner compiled by MarcusDe for the Haswell processors running Windows 7+ 64 bit has the edge on speed over my generic version.

http://graymines.net/miners/magi/cpuminer_win64_magi_byMarcusDe-haswell-0922.zip

I'm not sure if there is a collection of miners for Linux flavors available anywhere. Source code https://github.com/noncepool/m7magi-cpuminer

[Lightsplasher]

I always have something to say.
Do you want me to say something that will make network hashrate lower? But you might not like it

as long as blow away big miners pls.

Thanks for the tips whomever!

I'm thinking that some of these big miners could be using free power and resources so the usual price concerns might not be an issue for them. I doubt smoothing the fluctuation will change things much and PoS may act to smooth things out a bit when it starts working shortly.   (I keep expecting something to mint, I've got one of the first blocks)

For now I would try to ignore the big miners and focus on other things, perhaps they have the communities interests at heart one can never tell.  I think the PoM campaign is a great idea and should help build community and even out the mining rewards.  This is a CPU coin and potentially many new people could mine it if they can easily get the information.  Perhaps starting a wiki or building up more information on the website for beginners would be helpful.  (Fix broken links etc.) 

I would vote for using the extra coin exchange funds to pay bounties or incentive payments for needed stuff or for just being a part of the community.  Incentives for writing articles, making videos, contests, giveaway faucets, commuting by bike, this type of thing could be posted out on the website to attract beginners to get involved.  How about a PoB (proof of biking) incentive payment for those of us who don't commute to work and go everywhere by bike? It doesn't have to be large to be fun, I'm thinking maybe 20 coins to post a picture of your bike and promise not to drive your car for a week.  (Get the environmentalists involved) Or a PoT (proof of transaction) incentive for smoking... err moving the coins around.  If some of those big miners got involved and started offering bounties and incentives I think they would find that they would profit a lot more in the long haul.  It could make some magic happen; were doing much of this already! 

XMG: 9Romi8ZpevAwcu218gNsuCrv8i9Li6oarj

[Spexx]

I just opened my Magi wallet and was pleasantly surprised to have received a 50 XMG "bung" from somewhere. Many thanks to whoever you are.

I doubt smoothing the fluctuation will change things much

Yeah it will not change anything much regarding the issue of big miners - it's more of a cosmetic tweak really. I just don't like the look of crunchy sawtooth waveforms - that's the sound engineer in me coming out, reaching for the low-pass filter