Bitcoin Forum
April 18, 2024, 06:09:12 PM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 ... 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 [240] 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 ... 1310 »
  Print  
Author Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]  (Read 2375190 times)
111magic
Legendary
*
Offline Offline

Activity: 1750
Merit: 1005



View Profile
December 31, 2014, 06:57:03 PM
 #4781

Great work Joe!
You are really a genius.
If people take some time to read this they will understand why!
Hard fork [client version v1.2.0.1]
[12/31] PoW & PoS updates

Please update the wallet to v1.2.0.1 (mandatory):

Windows: http://coinmagi.org/files/magi-release/win32_magi_v1.2.0.1.zip
Linux: http://coinmagi.org/files/magi-release/linux_amd64_magi-qt_v1.2.0.1
Source code: https://github.com/magi-project/magi/

This update includes the following hard forks:
PoS hard fork at block 131100 for better staking results (Expected on January 6)
PoS-II Protocol V2 hard fork at block 131300 (Expected on January 6)
PoW-V2 hard fork: 1/7/2015, 12:00:00 PM EST time (GMT-5:00)


# Piece of info
Magi Cheat Sheet v1: http://coinmagi.org/files/misc/magi-cheat-sheet-v1.pdf

# Brief summary

  • Implement a filter for the difficulty data and stabilizing yielded block rewards; anticipation is improved accuracy of the block-rewarding (MagiReward) system in responding to the actual network hashrate;
  • Introduce a CPU miner targeting at reducing hash rate (https://github.com/magi-project/m-cpuminer-legacy) which is much more meaningful for magi in comparison with any other coins;
  • Adapt a close limitation of the PoS stake weight which disables potential PoS attack via accumulating significant amount of coins or offline stake time;
  • Other miscellaneous updates.

Huge amount of energies consumed in the cryptocurrency has been a big issue, which is totally opposite to the global efforts in saving energy. This issue should be resolved sooner or later in order to advance the cryptocurrency any further. As one of the possible solutions, that's the reason we have PoS. However, the pure PoS mode would never give rise to decentralization. Any approaches are vain if decentralization cannot be maintained, unless one agrees with a coin with limited time of mining or with total premining, or the such likes. The PoW should be remained in order to distribute coins into a broad audience over time.

The basic rule of dealing with the energy concern is to involve a "braking" mechanism in coin design. Such a rule exists in every piece of things in nature: why earth/electrons should circle the sun/nucleus without collapsing or departure? or just imagine a vehicle without brakes. Bitcoin or litecoin does not put actual limits in the rewards, or that simply not functioning properly. That's where magi plugs in.  

What do we need to save energy?

On the whole, mining should be encouraged at a lower hashrate level.

# MagiReward-V2

The issue to be solved in this upgrade is the removal of the vague dependence of block rewards on the difficulty, due to the fluctuating nature of block time. A basic consideration is applying a filter to smooth out the difficulty data. Details are as follows.



# Necessary to adjust miner efficiency?

A direct consequence of the above implementation is the well-shaped block rewards in which big rewards due to network fluctuation are totally avoided. The following figures disclose the real situation most likely:



Mining at a network hashrate of 22 Mh/s results in 50 XMG/block, whilst hashrate increases to 36 Mh/s like mining the air.

Who shall mine nothing?

Provided that I have a miner with hash rate of 1000 kh/s; I would have big concern of yielding nothing at its full speed, but I don't care throwing 10kh/s at nothing. The reality behind this scene will be a different story; at the time by which the exit of miners will pull the block reward back to some numbers, one is able to mine something by then. Reducing hash rate does sound the right action in this incident.

Attenuating hashrate of miners in mining bitcoins is very unusual or pointless, since the higher the hash rate, the greater the bitcoin amount mined. Except this sole "advantage", there are dozens of facts people should be aware of that increasing hash rate comes along the wrong direction: 1) running a PC miner is totally incompetent since every single person in the world would like to sharpen their miners with high hashrate; 2) running 100% CPU usage miners is impractical in most of situations even if one can do so; 3) mobile devices are incompetent under this scene.

It will be wise to run a hashrate-depressed miner under the improved MagiReward system. Technically by doing so it's possible to run miners everywhere.

# m-cpuminer-legacy

We are "joking" the miner, but this is for real that you'll need it; running it in VPS without incurring limitation imposed by vendors? working computers / school's super computer? Cheesy Here is the option.

https://github.com/magi-project/m-cpuminer-legacy

Code:
minerdlegacy -o stratum+tcp://pool_url:pool_port -u pool_user.worker -p password -t thread_numbers -e cpu_efficiency

This is none different from the regular miner, except that an option "-e cpu_efficiency" is added, where cpu_efficiency is a number between 1 - 100, for example, 50 representing for 50% of CPU usage. A few instances:

-e 75 -->
-e 50 -->
-e 25 -->
-e 1   -->

Given 10~30% CPU usage, the miner is more like a regular program. Please notice that neither I nor the magi team shall be responsible for any consequence because you run the miner in your working computers or school super computer.

# PoS-II-V2

What we have done in this upgrade is adding rigorous limitation on the amount of coins in one transaction for staking purpose, and reducing maximum staking time within two weeks. We don't expect impact on typical situation where one remains wallet online for PoS stake; the offline time should not exceed more than a week. We also recommend to keep 100 - 1000 XMG in one transaction for best results.

Again, magi implemented a braking mechanism which makes it more secure compared to any other PoS coins. To understand that, take a look at the basic PoS mining equation:

Code:
hashProofOfStake <= [Coin-age] x [Target]
[Coin-age] = [amount of coins] x [days in stake]
and,
Code:
[PoS-block-reward] = [Coin-age] x APR / [days in a year]

Apparently [Coin-age] is a paramount quantity for PoS, which is the driving force for people to stake with as many coins/days as possible. The major weakness in this mode is a possibility of attacking the network by mining a number of blocks ahead of other PoS miners, which can be done via accumulating significant [Coin-age] by

1) having significant amount of coins, which is technically difficult to be achieved in PPC, but rather easy in a freshly created coin;
2) accumulating significant amount of offline days of coins which shall not undergo any transactions before staking, which is a rather feasible approach.  

Approaches to resolve the above situation have been proposed, mostly by manipulating the staking days. In contrast to PPC's linearly increasing coin age with time, BC and RDD are two example coins with efforts towards this, but neither of them take care of both situations simultaneously. The BC's V2.0 takes the staking time out of the equation, i.e., [Coin-age] = [amount of coins], which does not solve the issue #1. It is also none organic that one cannot buy advantages from staking time using a cheap PC, in addition to simply buying coins. The growth rate of staking days over time is compromised in RDD if one stakes coins over a month; it should be noted that any desired attack can happen within a month staking time. In addition to the above point, one should be aware that the difference in the number of coins under stake should be emphasized too. The system should encourage one staking with more coins, but discourage greedy accumulations.

Magi's PoS-II?

Magi takes the following form for coin age:
Code:
[Coin-age] = [amount of coins] x M(coins, days)
where M(coins, days) is a function of the amount of coins, and the days under stake. [Coin-age] is also the so called stake weight. The best description of M is shown below:



It's rather empirical to determine the best value of stake days. I am rather taking time to sit down and figure, with a basic rule in mind, to limit it within a week. Let's see how it solves the PoS issues:

1) one holding more than 3000 XMG does not result any good in the stake weight; for staking over 25,000 XMG is like staking with nothing;
2) the maximum offline stake time is four days, beyond which staking weight starts to drop; it's unlikely to accumulate infinite staking time.

A side advantage of the PoS-II is that significant amount of offline time is not allowed. There is no advantage of gaining coin age for offline more than 4 days. For any online stake holders, the block time will be refreshed upon finding blocks. The stake weight (coin-age) nearly increases proportional to the amount of coins when coins in one transaction are between 100 and 1000 XMG.

# Misc updates

1) PoS status update in wallet GUI; please be aware that "expected time to earn reward" is only an estimate.  

2) Correction of the money supply shown in API calls: getinfo by reducing 720,000 XMG, which was burned (https://bitcointalk.org/index.php?topic=735170.msg9900074#msg9900074).

3) Added API calls:

Code:
getnetstakeweight

Code:
getmininginfo
"Expected PoS (hours)" : 3

Code:
getnewblockvaluebynumber 122478
{
    "flags" : "proof-of-work",
    "difficulty" : 1.62299710,
    "difficulty-V2" : 1.54876817,
    "blockvalue" : 5.36191184,
}

Mining calculator:
Code:
getminingbykhps 10
{
    "hashrate (kh/s)" : 10.00000000,
    "difficulty" : 1.56666109,
    "difficulty(aver)" : 1.35112710,
    "blockvalue" : 5.23089843,
    "mining (XMG)" : {
        "1 hour" : 0.03245060,
        "1 day" : 0.77881439,
        "1 week" : 5.45170070
    }
Quote
For members and new followers; the update!

bitcoin: bc1qyadvvyv29z08ln2ta7g3uqwzkscr7wq4p09wuz
1713463752
Hero Member
*
Offline Offline

Posts: 1713463752

View Profile Personal Message (Offline)

Ignore
1713463752
Reply with quote  #2

1713463752
Report to moderator
You get merit points when someone likes your post enough to give you some. And for every 2 merit points you receive, you can send 1 merit point to someone else!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1713463752
Hero Member
*
Offline Offline

Posts: 1713463752

View Profile Personal Message (Offline)

Ignore
1713463752
Reply with quote  #2

1713463752
Report to moderator
1713463752
Hero Member
*
Offline Offline

Posts: 1713463752

View Profile Personal Message (Offline)

Ignore
1713463752
Reply with quote  #2

1713463752
Report to moderator
1713463752
Hero Member
*
Offline Offline

Posts: 1713463752

View Profile Personal Message (Offline)

Ignore
1713463752
Reply with quote  #2

1713463752
Report to moderator
RazvanO
Full Member
***
Offline Offline

Activity: 174
Merit: 100


View Profile
December 31, 2014, 08:40:54 PM
 #4782


Currenct version v1.2.0.1-magi already on cryptoine exchange https://cryptoine.com/currency/info/XMG

You can transfer coins safely https://cryptoine.com/trade/xmg_btc
111magic
Legendary
*
Offline Offline

Activity: 1750
Merit: 1005



View Profile
January 01, 2015, 01:19:33 AM
 #4783


Currenct version v1.2.0.1-magi already on cryptoine exchange https://cryptoine.com/currency/info/XMG

You can transfer coins safely https://cryptoine.com/trade/xmg_btc

Thanks for the info! Happy New Year to all!

bitcoin: bc1qyadvvyv29z08ln2ta7g3uqwzkscr7wq4p09wuz
tianjinlian
Sr. Member
****
Offline Offline

Activity: 266
Merit: 250


View Profile
January 01, 2015, 02:56:56 AM
 #4784


Currenct version v1.2.0.1-magi already on cryptoine exchange https://cryptoine.com/currency/info/XMG

You can transfer coins safely https://cryptoine.com/trade/xmg_btc

nice, Happy New Year everyone

joelao95 (OP)
Legendary
*
Offline Offline

Activity: 1190
Merit: 1009


Coin of the Magi!


View Profile
January 01, 2015, 06:18:18 AM
 #4785


Currenct version v1.2.0.1-magi already on cryptoine exchange https://cryptoine.com/currency/info/XMG

You can transfer coins safely https://cryptoine.com/trade/xmg_btc

Thanks RazvanO, that's really quick.


  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 (OP)
Legendary
*
Offline Offline

Activity: 1190
Merit: 1009


Coin of the Magi!


View Profile
January 01, 2015, 06:26:04 AM
 #4786

so what will happen at the hardfork regarding pow (didn't really understand)?
The reward will just be stuck at 3xmg ?
currently the hashrate is rather around 50MH/s so whatever is done between 10MH/s and 30MH/s doesn't change anything.

Basically the main change is to ask miner to use less efficient miners (well why not)
But in reality, everybody will keep using their most efficient expecting the others fall for the trick  Grin so nothing will change...

The current block reward is jumping from one block to another. The update will fix this issue. Unfortunately, once we stabilize the reward, the reward might become trivial if the network hashrate stays at 50 MH/s.

Also, for now the block reward cannot be 50 XMG because of the diff jumping. The update will make the rewards stabilized at 50 XMG if the network hashrate is 20MH/s,


  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 (OP)
Legendary
*
Offline Offline

Activity: 1190
Merit: 1009


Coin of the Magi!


View Profile
January 01, 2015, 06:28:04 AM
 #4787

Happy new year to all who are already in 2015!

Magi took a awesome ride and is still far away from the end of the development. Thanks to all who contributed

- our awesome developer Joe Lao
- dev team members
- coders like ex33s and spexx
- our investors and coin holders who invested their BTC and FIAT
- our pool operators
- the exchanges who listed Magi
- members who developed games, faucets and other services for Magi
- all miners, using their CPUs and VPS to mine
- of course YOU, our community and fans
- and everyone else I forgot to mention

Without you, Magi wouldn't be a success!

Be prepared for some more innovative and cool features in 2015. We're always doing our best to make Magi more than just another coin.

Thanks mate, nice summary; magi won't be here without this community. I love it. Smiley

Happy New Year to all!


  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 (OP)
Legendary
*
Offline Offline

Activity: 1190
Merit: 1009


Coin of the Magi!


View Profile
January 01, 2015, 06:31:25 AM
 #4788

I'm wondering if there will be mac wallets too?  Huh

We will try to get the new version as soon as possible.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
111magic
Legendary
*
Offline Offline

Activity: 1750
Merit: 1005



View Profile
January 01, 2015, 10:03:40 AM
 #4789

Hi Magi community, as magi fan i need some help. I sent 10.000 euro on the 16th december to BTC-E bank account for buying btc, still haven't received anything. BTC-e is not responding on my mail. I really need some help. Can somebody help me with this?
If your problems is solved with BTC-e let us know.
Social media is very strong. You might try to tweet the question to BTC-e directly.

bitcoin: bc1qyadvvyv29z08ln2ta7g3uqwzkscr7wq4p09wuz
111magic
Legendary
*
Offline Offline

Activity: 1750
Merit: 1005



View Profile
January 01, 2015, 02:26:10 PM
 #4790

Happy new year to all who are already in 2015!

Magi took a awesome ride and is still far away from the end of the development. Thanks to all who contributed

- our awesome developer Joe Lao
- dev team members
- coders like ex33s and spexx
- our investors and coin holders who invested their BTC and FIAT
- our pool operators
- the exchanges who listed Magi
- members who developed games, faucets and other services for Magi
- all miners, using their CPUs and VPS to mine
- of course YOU, our community and fans
- and everyone else I forgot to mention

Without you, Magi wouldn't be a success!

Be prepared for some more innovative and cool features in 2015. We're always doing our best to make Magi more than just another coin.

Thanks mate, nice summary; magi won't be here without this community. I love it. Smiley

Happy New Year to all!

Nice words Jawitech!

bitcoin: bc1qyadvvyv29z08ln2ta7g3uqwzkscr7wq4p09wuz
Cesare1985
Sr. Member
****
Offline Offline

Activity: 322
Merit: 250


View Profile
January 01, 2015, 03:36:18 PM
 #4791

I have a problem to download the wallet. The page can't be found.

Edit:    Found a Win32:Evo-gen [Susp] during the download.
111magic
Legendary
*
Offline Offline

Activity: 1750
Merit: 1005



View Profile
January 01, 2015, 03:48:53 PM
 #4792

I have a problem to download the wallet. The page can't be found.

Edit:    Found a Win32:Evo-gen [Susp] during the download.

http://coinmagi.org/files/magi-release/win32_magi_v1.2.0.1.zip Try this link and try it without anti-virus program. Worked fine for me!

bitcoin: bc1qyadvvyv29z08ln2ta7g3uqwzkscr7wq4p09wuz
Cesare1985
Sr. Member
****
Offline Offline

Activity: 322
Merit: 250


View Profile
January 01, 2015, 03:49:45 PM
 #4793

I have a problem to download the wallet. The page can't be found.

Edit:    Found a Win32:Evo-gen [Susp] during the download.

http://coinmagi.org/files/magi-release/win32_magi_v1.2.0.1.zip Try this link and try it without anti-virus programm. Worked fine for me!
Ok, thanks... Now I try.
111magic
Legendary
*
Offline Offline

Activity: 1750
Merit: 1005



View Profile
January 01, 2015, 04:03:52 PM
 #4794

I have a problem to download the wallet. The page can't be found.

Edit:    Found a Win32:Evo-gen [Susp] during the download.

http://coinmagi.org/files/magi-release/win32_magi_v1.2.0.1.zip Try this link and try it without anti-virus programm. Worked fine for me!
Ok, thanks... Now I try.

Good luck. Let me know if it's working!
If you update your wallet: FIRST make backup.

bitcoin: bc1qyadvvyv29z08ln2ta7g3uqwzkscr7wq4p09wuz
jawitech
Full Member
***
Offline Offline

Activity: 196
Merit: 100


View Profile
January 01, 2015, 04:24:08 PM
 #4795

I have a problem to download the wallet. The page can't be found.

Edit:    Found a Win32:Evo-gen [Susp] during the download.

http://coinmagi.org/files/magi-release/win32_magi_v1.2.0.1.zip Try this link and try it without anti-virus program. Worked fine for me!

Stupid me, thanks magic for the hint. My AV blocked the download and I didn't know why Wink Now I was able to download it, adding an exception for the magi url.
Spexx
Sr. Member
****
Offline Offline

Activity: 350
Merit: 250


Mining Co-operative


View Profile
January 01, 2015, 05:09:13 PM
 #4796

Is there a Bitcoin address for making donations to Magi Development (particularly for MagiPay) ?

jawitech
Full Member
***
Offline Offline

Activity: 196
Merit: 100


View Profile
January 01, 2015, 05:11:57 PM
 #4797

Is there a Bitcoin address for making donations to Magi Development (particularly for MagiPay) ?

Joe has hidden them at the bottom of the OP Wink

Donation:
XMG:  95V9eZnrghtEriGUhBwwEuqMbDm1HBJ58u (Marketing, Balance 2,225 XMG)
BTC:  188AmugttD1jfy2xYNy6muTzVzYha1JEuq  (Development, Balance currently 0.5 BTC)
LTC:  Lba3T9NUWcTi2VrKWxtXAT4ypnFGV5ojLC  (Development, Balance 1.24 LTC)

Donations are very appreciated.
joelao95 (OP)
Legendary
*
Offline Offline

Activity: 1190
Merit: 1009


Coin of the Magi!


View Profile
January 01, 2015, 06:57:08 PM
 #4798

I've finished most of stuffs regarding the coin itself, will now focus on other things including better organization of all the information, firstly the official site.

Downloads also available here:

https://sourceforge.net/projects/coinmagi/files/

Digithusiast has very much supported the magi project. I will make a full donation list as well.



  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
111magic
Legendary
*
Offline Offline

Activity: 1750
Merit: 1005



View Profile
January 01, 2015, 09:29:10 PM
 #4799

I've finished most of stuffs regarding the coin itself, will now focus on other things including better organization of all the information, firstly the official site.

Downloads also available here:

https://sourceforge.net/projects/coinmagi/files/

Digithusiast has very much supported the magi project. I will make a full donation list as well.


Nice Magi still doing great! Step by step Magi will show 2015 will be the magical year!
End 2015 Magi will be in the top ten on the coinmarketcap. Patience and good new developments and promotions will make it happen!

bitcoin: bc1qyadvvyv29z08ln2ta7g3uqwzkscr7wq4p09wuz
Bojcha
Hero Member
*****
Offline Offline

Activity: 848
Merit: 500



View Profile
January 02, 2015, 06:40:56 AM
 #4800

Happy New Year to everyone!

Just updated wallet, will let you know about how staking works now.. since was not so great earlier.
Pages: « 1 ... 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 [240] 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 ... 1310 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!