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Author Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]  (Read 2014734 times)
111magic
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January 07, 2015, 10:26:40 AM
 #4901

Today Magipay will open?
Lacie here is the link about the payment gateway.https://bitcointalk.org/index.php?topic=735170.msg10039030#msg10039030
Check it amigo!


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January 07, 2015, 11:13:10 AM
 #4902

something seems to be wrong with the info displayed by getmininginfo in the wallet.
The block value as well as the hashrate are wrong...

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January 07, 2015, 11:36:47 AM
 #4903

something seems to be wrong with the info displayed by getmininginfo in the wallet.
The block value as well as the hashrate are wrong...
Did you update the wallet? And what seems to be wrong exactly?


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January 07, 2015, 12:21:11 PM
 #4904

Hey, Spexx - I saw your challenge posted, but didn't really like it because you stated that modifying the miner code itself is disallowed. So, just for fun, I worked on my own, cross compiled it from Linux, and then ran it on my laptop, which dual boots Windows and Linux. (I figured I should benchmark both miners on Windows to be fair.)

The laptop has an i7-4700HQ CPU, clocked at 2.40Ghz. I took the hashrate of each miner and rounded to the nearest quarter kilohash.

Your AVX2 miner: 28.75kh/s
My AVX2 miner: 51.50kh/s

Difference: ~79.13%  Wink

On Linux, it can reach just under 60kh/s, but I don't think that's a fair comparison.

pls share your miner Smiley
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January 07, 2015, 12:30:25 PM
 #4905

something seems to be wrong with the info displayed by getmininginfo in the wallet.
The block value as well as the hashrate are wrong...
Did you update the wallet? And what seems to be wrong exactly?
yes.
The current block value is 3, getmininginfo gives a block value at 13.3

Code:

13:28:46

{
"blocks" : 132355,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : {
"proof-of-work" : 2.21121802,
"proof-of-stake" : 0.00697556,
"search-interval" : 1
},
"blockvalue" : 13.33430895,
"netmhashps" : 51.30337130,
"netstakeweight" : 267209.59778414,
"errors" : "",
"pooledtx" : 0,
"stakeweight" : {
"minimum" : 12645,
"maximum" : 0,
"combined" : 12645
},
"Expected PoS (minutes)" : 31,
"stakeinterest" : 0.01594041,
"testnet" : false,
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"networkhashps" : 51303371,
"testnet" : false
}

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January 07, 2015, 12:39:29 PM
 #4906

This MagiSimpson guy has about 50 good/solid computers running?
How the hack he get's this hash?

 Huh

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January 07, 2015, 12:50:48 PM
 #4907

Thanks djm34
This will be a question for the dev. or one of the smart coders to check.
They will get back on this.
z0n0 will check it!


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January 07, 2015, 12:58:40 PM
 #4908

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
Mac OS X: http://coinmagi.org/files/magi-release/Magi-Qt-1.2.0.3-macosx.dmg
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
    }
}

For those who missed this update!!!


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January 07, 2015, 03:10:29 PM
 #4909

This MagiSimpson guy has about 50 good/solid computers running?
How the hack he get's this hash?

You have seen the stats on Noncepool ... no?

http://magi.nonce-pool.com/index.php?page=statistics&action=pool


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January 07, 2015, 05:21:58 PM
 #4910

PoW fork is done. Cheers!

Make sure wallet version > v1.2.0.


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January 07, 2015, 05:51:05 PM
 #4911

Today Magipay will open?
It sounds disappointing but we have to postpone. I will let you know when it's ready to be public ASAP.


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January 07, 2015, 06:13:31 PM
 #4912

This MagiSimpson guy has about 50 good/solid computers running?
How the hack he get's this hash?

You have seen the stats on Noncepool ... no?

http://magi.nonce-pool.com/index.php?page=statistics&action=pool



OMG
I can't understand how's that possible (but I'm a newbe in crypto world, so...) if its CPU only? How many computer this guy have? Smiley
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January 07, 2015, 07:14:18 PM
 #4913

This MagiSimpson guy has about 50 good/solid computers running?
How the hack he get's this hash?

You have seen the stats on Noncepool ... no?

http://magi.nonce-pool.com/index.php?page=statistics&action=pool



OMG
I can't understand how's that possible (but I'm a newbe in crypto world, so...) if its CPU only? How many computer this guy have? Smiley

It is possible that he doesn't own a single one, but is in charge of hundreds. If I was the sysadmin of my company's EPOS network, I would probably have the XMG miner running on about 4000 cashier tills up and down the country by now. A similar thing might be possible with ATMs for example - most of then run Windows XP and they are idle for most of the time.

I'm joking of course but you can see the possibilities. Sysadmins in charge of a server farm would have plenty of resources at their disposal and somebody else would paying the electricity bill.

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January 07, 2015, 07:14:49 PM
 #4914

This MagiSimpson guy has about 50 good/solid computers running?
How the hack he get's this hash?

You have seen the stats on Noncepool ... no?

http://magi.nonce-pool.com/index.php?page=statistics&action=pool


OMG
I can't understand how's that possible (but I'm a newbe in crypto world, so...) if its CPU only? How many computer this guy have? Smiley

Probably owners of VPS servers, or similiar...

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January 07, 2015, 07:29:03 PM
 #4915

something seems to be wrong with the info displayed by getmininginfo in the wallet.
The block value as well as the hashrate are wrong...
Did you update the wallet? And what seems to be wrong exactly?
yes.
The current block value is 3, getmininginfo gives a block value at 13.3

That is a mistake; the block value calculated is actually for blocks after hardfork. It doesn't matter any more since hardfork has happened. To be clear I made a change (v1.2.0.6); the calculation remains the same. Also changed the blockvalue section as blow:
Code:
"blockvalue" : {
"difficulty-V2" : 1.56607474,
"blockvalue" : 6.76950578
}
blockvalue replies on difficulty-V2 that is evaluated by the algo mentioned in the updates.


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January 07, 2015, 07:31:19 PM
 #4916

best Coin Magi.....

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January 07, 2015, 08:08:04 PM
 #4917

XMG someone large dumps on bittrex

|


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January 07, 2015, 08:10:26 PM
 #4918

XMG someone large dumps on bittrex
Yes noticed that. Thats good other exchanges price is stable.
Now new people can buy in cheap!
Price is up again! Great volume!!


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January 07, 2015, 08:20:24 PM
 #4919

Lots of XMG trading today and price volatility. It looks like XMG is getting on the radar more and more.

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January 07, 2015, 08:30:43 PM
 #4920

Today, we were added to the voting list of https://www.bitwin.co

It's an established sports betting site which provides a huge variety of betting opportunities.

Find out more about Bitwin.co
https://bitcointalk.org/index.php?topic=853763.0

This month Bitwin will add 6 new coins as payment option. Would be nice if Magi would become one of them.

Please vote for Magi here:
https://www.bitwin.co/voting.php
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