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Author Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]  (Read 1431447 times)
joelao95
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Coin of the Magi!


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October 07, 2014, 01:24:07 AM
 #2621

its good you support and all that Digi; I think "we" need to some how help out with the growth of Magi in our own ways.

Anons might need to tweet it, so we got to let the other Anons know, they have a chance to get into the crypto industry.
Anyone in touch with YourAnonNews?  http://twitter.com/YourAnonNews

Please don't get me wrong, I am a big XMG supporter and am currently buying and holding all the way into the top 10 holders,
only for me it feels off if I am running my miners, burning energy and money, while it is less energy/money-consuming to just buy on the market.

and dev, any updates on the TOR inputs? I know you have been very busy working on the mining aspect, which can only improve from here. We are fan of your developments!

I will try to get the TOR on the testnet this week, but before that I plan to update the wallet & algo.

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joelao95
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Coin of the Magi!


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October 07, 2014, 01:29:50 AM
 #2622

The above mentioned is a serious problem. In fact it makes mining for small miners a bad choice, as it is lots cheaper to buy than to mine, and the free miners will continue to keep the price down.

Joe, one idea could be to buy all this cheap positions, manually or probably with a bot. Don't know if you have some funds left for this (call it a campaign "Proof of value" or something like this), before daytraders make cash with these cheap coins.

We are lack of funds, so this could be unlikely; also, it could also not be wise to do so. Some IPO coin projects do support this kind of buying support, but in my opinion, market is the market which should reflect the real situation; big intervention could be lead to misunderstanding for the miners.

Yeah, I see your point. I think more people should know about Magi. Each miner, no matter if asic, gpu or whatever miner can use his cpu. No extra costs, no huge efforts. And even if they are mining just a few coins, bringing just some extra kh, it increases the network/coin. More or less: Every miner (not only) at this board could join our little community.

My CPU runs 24/7 for Magi, my coins are sleeping in the wallet and if I have some free funds, I buy some cheap coins on the exchanges. That's not much but my contribution.

exactly, we will need to advertise a bit more about XMG, Tweet / RT  https://twitter.com/CoinMagi

joelao95
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October 07, 2014, 04:24:56 AM
 #2623

[Coming updates & coin swap]

1. Regarding recent questions about the coin swap, here below are some numbers:

Initial coins the swap wallet held: 1,237,505 XMG
Total coins minted so far: 1,657,042 XMG (i.e., freshly mined: 419,537 XMG)
Other expense: translation bounties - 8,000 XMG (this is more than expected cause we promised the bounties before taking into account the actual swapping ratio)
1st coin swap 5% done between 09/24 - 10/01: 45,348.82747990 XMG

(Coin swap+bounties) : (mined coins) = 1 : 7.86

The scheduled 2nd swap has been delayed. As I have mentioned before (https://bitcointalk.org/index.php?topic=735170.msg8950501#msg8950501), we may delay or reduce the swapping ratio in order to protect the XMG market. We will keep the swapped coins over totally mined coins at 1 : 5 ~ 1 : 10. Miners and prior magicoin holders please let me know your suggestions if you have different opinions. If XMG minting happens in a significantly slow pace, swap will be accordingly extended to maintain the above ratio.

2. Wallet updates & algo

I have an update in mind regarding the mining algo. The current block-rewarding system is basically resistant to even higher hashrate. This makes generic computer still minable, though ROI remains to be a concern. I am looking into some kind of numerical computation algo which would be even unlikely programmable for the GPU. Initial attempt was made by using Fortran, however we got compiling issue and had been dropped off. I will make one more try on this (fully implemented with C++) to make us even safe with CPU mining.

The progress of coins minted so far actually proceed slower than expected. Initially we consider significant amount of new XMG minted to dilute swap coins. However, since we changed the swap plan by limiting under a ratio, we can go with the current rewarding system till the end of PoW-I. Noticing the advantage of this block-rewarding system, I now consider this system to be better to be used in the PoW-II stage; TBD

3. PoS-II initialted at block 10,080

This graph summarizes the PoS-II.

The percentage is calculated based on the base of 5,000,000 XMG, for exampe, 0.1% means 5,000 XMG in a transaction.

4. MagiAnon: TOR and other Anonymous feature

We will deliver the TOR soon nearly at the scheduled time. In the mean time, I will be looking into anonymous features, such as merging with the Darksend, in the following months. The block rewarding system seems triggering some interests in maintaining a set of rewarding nodes. While I don't think about it in details, this may get us advantages over implementing in other coins.

5. MagiConnections

In addition to the technical development, one of the focus XMG will emphasize is the connections among people using XMG. A tipping system will be the one we should look at, since we have seen the advantages in prior posts: people who help others receive tips. If you can give a hand on this, please let me know, or I will be looking into this once other stuffs are settled.

I also hope people can suggest/host a campaign, having fun as well as promoting XMG. You can think of any kinds of campaigns, for any approved XMG provides support. I am going to create a MagiCampaign tab in our subreddit /r/coinmagi. Please fill up the list. An example on-going is here: https://bitcointalk.org/index.php?topic=802681.0

I will give a roadmap for these stuffs sometimes.

Anonz
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October 07, 2014, 05:54:44 AM
 #2624

thank you dev for the details, this looks very through. Great work mate.

Anonz want to remain Anonymous. It's up to those who follow along with us.  My favorite coins?  Magi, Bitcoin, and Darkcoin. Thread about XMG: https://bitcointalk.org/index.php?topic=735170.0 - Market of XMG: https://bittrex.com/Market/Index?MarketName=BTC-XMG - #Magi on Freenode IRC:  https://kiwiirc.com/client/irc.freenode.net/#magi
SamWalters
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Sam Mother Fuckin' Walters


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October 07, 2014, 06:51:18 AM
 #2625

Well said, Joe!! Proud to be supporting you and the Magi community.

I think this gives us a great outlook on the transparency involved with Magi, and the future with what is to come.  I think all was stated well, and we as a community need to continue providing feedback on mining, engaging in community marketing, and helping magi get noticed everywhere.

I'm going to bump up a few posts; we need others to help out.  if anyone is interested in helping with marketing and taking my direction on a community level; send me a msg. I know I was going to help out a few people with other developments like Android; however, I got tied up this past week, and going to be busy in the coming days. I prefer to help engage with people within the community who know what is magi, how it works, and wants direction on marketing it.

I'm going to also give you a bounty out of my pocket for helping towards it. Please send me a pm to discuss.

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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October 07, 2014, 07:08:45 AM
 #2626

I'm bumping this post for awareness as we should collectively work on this to grow Magi.

Guys, Imagine if this coin really brings in the 2000 miners that can really help us earn more rewards as a community, hence, growing investor and speculator interest due to the growth? This is keen! I enjoy mining, but what I enjoy more, is being apart of a invaluable community like Magi. For the most part- this is a proactive thread and community, we just need to fine tune what our individual focuses should be. Each of us need to play a role in the future of Magi. If you own even 1 XMG, you should participate... That's just an example... we should all be working on this similar goals to help Magi, and I will help in anyway with Direction, now that I brought in a few more folks to give me a hand with that initiative.

Can we all join forces of pushing out info about Magi all of the places we are at?
I'm talking about Chat Rooms and Troll Boxes - IRC and Web Pages... Twitter and Facebook and Reddit .. even around on Bitcointalk

We need the community to stick together on this and unite promotions. OP seems updated.

RT / RE-QUOTE Twitter Feeds from #CoinMagi https://twitter.com/hashtag/coinmagi?f=realtime&src=hash

Where to share links? Use these two places for example:
http://reddit.com/r/cryptocurrency and http://reddit.com/r/altcoin

We can also utilize other channels around Bitcointalk..

Alternative CryptoCurrencies section:
https://bitcointalk.org/index.php?board=67.0
Market Place for (Altcoins) section: https://bitcointalk.org/index.php?board=161.0
Mining for (Altcoins) section: https://bitcointalk.org/index.php?board=160.0

Use these images and graphics to share it around:
Album #1 for video with words: http://imgur.com/a/rpMuW
Album #2 for video with animations: http://imgur.com/a/Oa6A5


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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October 07, 2014, 07:18:13 AM
 #2627

Thank you for the clear update Joe. Will keep mining and buying.
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October 07, 2014, 08:06:45 AM
 #2628

Thank you for your hard work dev. I'm confident in Mag!
111magic
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October 07, 2014, 08:26:10 AM
 #2629

I'm bumping this post for awareness as we should collectively work on this to grow Magi.

Guys, Imagine if this coin really brings in the 2000 miners that can really help us earn more rewards as a community, hence, growing investor and speculator interest due to the growth? This is keen! I enjoy mining, but what I enjoy more, is being apart of a invaluable community like Magi. For the most part- this is a proactive thread and community, we just need to fine tune what our individual focuses should be. Each of us need to play a role in the future of Magi. If you own even 1 XMG, you should participate... That's just an example... we should all be working on this similar goals to help Magi, and I will help in anyway with Direction, now that I brought in a few more folks to give me a hand with that initiative.

Can we all join forces of pushing out info about Magi all of the places we are at?
I'm talking about Chat Rooms and Troll Boxes - IRC and Web Pages... Twitter and Facebook and Reddit .. even around on Bitcointalk

We need the community to stick together on this and unite promotions. OP seems updated.

RT / RE-QUOTE Twitter Feeds from #CoinMagi https://twitter.com/hashtag/coinmagi?f=realtime&src=hash

Where to share links? Use these two places for example:
http://reddit.com/r/cryptocurrency and http://reddit.com/r/altcoin

We can also utilize other channels around Bitcointalk..

Alternative CryptoCurrencies section:
https://bitcointalk.org/index.php?board=67.0
Market Place for (Altcoins) section: https://bitcointalk.org/index.php?board=161.0
Mining for (Altcoins) section: https://bitcointalk.org/index.php?board=160.0

Use these images and graphics to share it around:
Album #1 for video with words: http://imgur.com/a/rpMuW
Album #2 for video with animations: http://imgur.com/a/Oa6A5

Just started:
Chinese market warm-up for Magi.
http://8btc.com/thread-8726-1-1.html
More info will follow after warm-up.

idzaldy
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★☆★Bitin.io★☆★


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October 07, 2014, 10:40:36 AM
 #2630

how to do POS ?

ray88
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October 07, 2014, 10:54:23 AM
 #2631

unlock your wallet at block 1080

how to do POS ?
idzaldy
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★☆★Bitin.io★☆★


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October 07, 2014, 10:57:23 AM
 #2632

unlock your wallet at block 1080

how to do POS ?

but how to do it ?

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October 07, 2014, 11:28:51 AM
 #2633


I have an update in mind regarding the mining algo. The current block-rewarding system is basically resistant to even higher hashrate. This makes generic computer still minable, though ROI remains to be a concern. I am looking into some kind of numerical computation algo which would be even unlikely programmable for the GPU. Initial attempt was made by using Fortran, however we got compiling issue and had been dropped off. I will make one more try on this (fully implemented with C++) to make us even safe with CPU mining.

lol again ?  Grin

First: Why ? There is no gpu running on it, this coin is already cpu only...

Second: Why do you think gpu are bad at doing numerical computation ?
For your information: http://www.mathworks.com/discovery/matlab-gpu.html

 Grin

djm34 facebook page
BTC: 1NENYmxwZGHsKFmyjTc5WferTn5VTFb7Ze
Pledge for neoscrypt ccminer to that address: 16UoC4DmTz2pvhFvcfTQrzkPTrXkWijzXw
111magic
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October 07, 2014, 11:41:08 AM
 #2634

Well said, Joe!! Proud to be supporting you and the Magi community.

I think this gives us a great outlook on the transparency involved with Magi, and the future with what is to come.  I think all was stated well, and we as a community need to continue providing feedback on mining, engaging in community marketing, and helping magi get noticed everywhere.

I'm going to bump up a few posts; we need others to help out.  if anyone is interested in helping with marketing and taking my direction on a community level; send me a msg. I know I was going to help out a few people with other developments like Android; however, I got tied up this past week, and going to be busy in the coming days. I prefer to help engage with people within the community who know what is magi, how it works, and wants direction on marketing it.

I'm going to also give you a bounty out of my pocket for helping towards it. Please send me a pm to discuss.

pm send already Grin

losk22
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October 07, 2014, 12:45:17 PM
 #2635

We will keep the swapped coins over totally mined coins at 1 : 5 ~ 1 : 10
coins are not appreciated so 1: 5


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idzaldy
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October 07, 2014, 03:27:06 PM
 #2636

how much xmg we will get from the giveaway in reddit?

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October 07, 2014, 03:46:33 PM
 #2637


You need to leave your wallet open and decrypted (that means you need to unlock your wallet for staking only in the options), then you will see an icon on the bottom left which turns green after a while. And then, you are minting and generating new coins in your wallet.

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October 07, 2014, 04:25:18 PM
 #2638

I have same question: how to do PoS?
The wallet tells: Staking, expected time to earn reward is 0 seconds. Still, getting nothing for hours. Am I missing something?

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October 07, 2014, 05:00:57 PM
 #2639

I have same question: how to do PoS?
The wallet tells: Staking, expected time to earn reward is 0 seconds. Still, getting nothing for hours. Am I missing something?

PoS doesn't start until block 10080.  You can hover your mouse over the green check mark in the wallet to see what block we are at (9623) at the time of this writing. 

WCIR
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October 07, 2014, 05:28:21 PM
 #2640


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