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

[jawitech]

Is the multipool working??
https://multi.magipool.info/
I had a 2 day rental for Scrypt on there, here is the results:
Unconfirmed BTC: 0.00149230
Confirmed BTC: 0.00000000

First exchange round () stats for: 9QuwTtwZXXXXXXXXXXXXXXXXX
No exchange data

How long do I have to wait before the multipool changes the unconfirmed btc to confirmed, and then that into XMG?

Yes, it's working. In fact, that's only a front-end that connects you to multipools and buys XMG from the market with the BTC you mined. This way, it generates some demand and helps increasing the price.

The problem you're experiencing results from the minimum payout amount of the selected pool. Which pool are you mining at, yaamp, nicehash or wafflepool? When this amount is reached, the payment will be processed and converted into XMG.

I was using Yammp, but my 2 day rental is over, so is that 149k satoshis just literally dead coins or do I wait a couple more days?

"Payouts are made automatically once a day for all balances above 0.001 or 0.0001 on Sunday."
According to the yaamp site, it should have been processed. When did you reach a balance of > 0.001 BTC? Give it 24h, I guess it should be processed then. Your coins are not lost, even if you would be below the minimum amount. They will remain and you could later continue mining.

If it's not processed in 24h, please let me know.

Great to see you rented hashrate to support Magi!

[joelao95]

For now I'm just letting the miners do their thing and collect the coins into a central wallet. I'm still a bit unclear on how the staking part works exactly but I don't plan to sell or trade. I'm in it for the long run

Feel free to ask questions regarding staking. We do have a nice community.

[joelao95]

Maybe the guys that made sources for linux will intervene here?

Can it be done, so that the linux miner will monitor the network hashrate, block value like NeedIfFindIt windows miner?
That way, we all who have linux miners and VPS's will get alo the maximum XMG per watt.  

I will try to make that.

[joelao95]

i have a recommended feature if you could implement it. you should create like magi credit score. just how in real life our credit score is used to assess if you get credit you could do something like that for the crypto world. one factor could be how much spending the person does, staking and then later to increase credit they could provide documents to verify identity

just a thought a credit score system which works for cypto is huge as you all know credit is really popular. this could also be for businesses who use your currency to trade ofcourse there is a risk of non payment but slowly the system will be perfected as you can learn from mistakes

this could really be the next stage in crypto. you could then let people offer loans by using your system which you charge a fee

We've been thinking doing trust network. Not quite sure how the credit score works in this scene, especially a coin go anonymous.

[joelao95]

I was just wondering how many coins I could expect to mine with an with a fairly decent cpu, like an old I7 i think its a 3700. Is it profitable at all?

There is a built-in calculator, run command: getminingbykhps; because of dynamic block rewards, results might be different by running at different time.

[joelao95]

In 0.9.6 it will use hardcoded 11MHs/11XMG which makes 100%/50%

In 0.9.7 it will use hardcoded 22MHs/22XMG which makes it running at 100% if the connection to my hosting is unavailable (also a message will appear).

If just magid crash then the MHs value will be grabbed from one of the pools and the XMG/Block will be estimated on MHs.

I guess using the block value (v0.9.6) would be better. The hashrate actually has no direct relationship with the difficulty-v2 and blockvalue, so it might be unreliable. I'm about to add difficulty-v2 based hashrate into the API call, but think that might be inaccurate; the formula is hashrate = diff * 2^32/blocktime =  diff * 2^32/180 if you want to use hashrate (actually blocktime varies a lot). Also the optimum network hash is supposed to be increasing over time, that is to allow more people mining.

An additional thought which might be useful in some situations: include an option to set the maximum of default CPU usage; for example, people may want to limit CPU mining while using their office PC.

[NeedIfFindIt]

In 0.9.6 it will use hardcoded 11MHs/11XMG which makes 100%/50%

In 0.9.7 it will use hardcoded 22MHs/22XMG which makes it running at 100% if the connection to my hosting is unavailable (also a message will appear).

If just magid crash then the MHs value will be grabbed from one of the pools and the XMG/Block will be estimated on MHs.

I guess using the block value (v0.9.6) would be better. The hashrate actually has no direct relationship with the difficulty-v2 and blockvalue, so it might be unreliable. I'm about to add difficulty-v2 based hashrate into the API call, but think that might be inaccurate; the formula is hashrate = diff * 2^32/blocktime =  diff * 2^32/180 if you want to use hashrate (actually blocktime varies a lot). Also the optimum network hash is supposed to be increasing over time, that is to allow more people mining.

An additional thought which might be useful in some situations: include an option to set the maximum of default CPU usage; for example, people may want to limit CPU mining while using their office PC.

Probably I did not explained it correctly.
blockvalue is just guessed from the hashrate only in a situation when:
- magid at my host has crashed.
- the host is still able to connect to one of the pools.
- there is no value in the xcache (I cache the values for 2 minutes to avoid RPC overload) but also cache the same values for 6 hours just in case

I plan to include more CPU options in the next version but it will be in February (need more testing).

[ancientcoins]

i have a recommended feature if you could implement it. you should create like magi credit score. just how in real life our credit score is used to assess if you get credit you could do something like that for the crypto world. one factor could be how much spending the person does, staking and then later to increase credit they could provide documents to verify identity

just a thought a credit score system which works for cypto is huge as you all know credit is really popular. this could also be for businesses who use your currency to trade ofcourse there is a risk of non payment but slowly the system will be perfected as you can learn from mistakes

this could really be the next stage in crypto. you could then let people offer loans by using your system which you charge a fee

We've been thinking doing trust network. Not quite sure how the credit score works in this scene, especially a coin go anonymous.

anonymous loans could be given out based on account activity. now with anonymous loans the first loan would be small say $1. this could be dependent on how much shopping the individual does using magi. this could then increase slowly if loans are paid back on time to max of say $20. after this if you want to borrow more you would need to prove who you are where this will help boost your credit score. this is a option not compulsory.

people love credit and i think if they have a benefit in using magi it could be popular. the first credit card in crypto. ofcourse this a long term project so many mistakes to learn from. merchants could use it for their business by signing up as a merchant and having a master address where they use the system to loan credit to their customers.

if a big loan isn't repaid then as we only would give it to people who have proved themselves just how in the real there are debt collectors im sure many would be willing to start this service to act as debt collector where they get a piece of the pie

crazy idea but excellent if implemented

[ancientcoins]

whats happening in 2 days on your site

[111magic]

whats happening in 2 days on your site

Think some updates are in progress on the website!

[th3.r00t]

Maybe the guys that made sources for linux will intervene here?

Can it be done, so that the linux miner will monitor the network hashrate, block value like NeedIfFindIt windows miner?
That way, we all who have linux miners and VPS's will get alo the maximum XMG per watt.  

I will try to make that.

Awesome!
Thanks Joe!
I volunteer my miners to test it

[Singman33]

Hi,

In the QT wallet, you can see the minted transactions (BTW there is a display bug at least in Win version, theses minted transactions are marked "mined" instead of "minted" but filter is working).
I can't find theses minted transactions with the command line "listtransactions". Do you have a way to show them using CLI ?

[ItsValium]

Well today one of my staff called me and was really all over the place! He got a notice from our monitoring software complaining about one of the clusters went into Alert mode. When he logged in to the cluster management console he was presented with the following image :
http://i60.tinypic.com/1z72b61.jpg
And as a result I got the anxious call. He was saying he couldn't make sence of it, since the memory load on the hosts was so low, but the CPU consumption was at an all time high ...

After explaining to him he didn't need to worry, he calmed down and left me at it I'm sure some of my staff who are not aware of the clusters mining Magi will panic tomorrow morning when they get into the office

I definately need to adjust the monitoring to not include the low priority miners otherwise I'll get calls every hour or so

Maybe the guys that made sources for linux will intervene here?

Can it be done, so that the linux miner will monitor the network hashrate, block value like NeedIfFindIt windows miner?
That way, we all who have linux miners and VPS's will get alo the maximum XMG per watt. 

I will try to make that.

Awesome!
Thanks Joe!
I volunteer my miners to test it

And if needed I can volunteer some miners too!

Regards

[NewtonsMthd]

Hi All!

I just started mining Magi yesterday - it's the first cryptocurrency I've ever mined!

Since I'm new to the field, I have a few questions.  I have some experience with *nix, parallel processing, and some programming, so I'm not starting completely from scratch.

First, since I'm mining on Linux (Ubuntu 14.04), I mostly followed this guide: https://bitcointalk.org/index.php?topic=735170.msg8800103#msg8800103

I'm solo-mining to start, so I went until the end.  Step 9 caught me off-guard, because when step 10 didn't work, I realized that I had to download the entire blockchain, which took a few hours.  I think they missed that part in the tutorial!

Afterwards, I looked into Bitcoin API commands, since the wallet is based off of the original BTC client.  I found that there is a "setgenerate" option.  So this raises the question of why I'm running a separate minerd on the same machine, if the wallet daemon itself can mine?  Is there an advantage of one over the other?  I compiled both independently.

Speaking of compiling both on my own, the pre-built Linux package didn't work because it was dynamically linked.  Maybe it would be better to static link in the future?

Next, every now and then I see blocks come in with the following result:

Code:

received block f305539e1a48b24c9b80
ERROR: CheckProofOfStake() : INFO: check kernel failed on coinstake 3e77c4d5c957069f38fdd59cfbe3d15197415e58abe7d851aef854f9eafab3c1, hashProof=0000a9cd1296008e7bdbca0790b7db1e124ff58ac05940a01b290f6e1dbb9b90
WARNING: AcceptBlock(): check proof-of-stake failed for block f305539e1a48b24c9b804e6e212a88f1f73433858e01b0db70147f4d31102425
ERROR: ProcessBlock() : AcceptBlock FAILED
received block f305539e1a48b24c9b80
ERROR: CheckProofOfStake() : INFO: check kernel failed on coinstake 3e77c4d5c957069f38fdd59cfbe3d15197415e58abe7d851aef854f9eafab3c1, hashProof=0000a9cd1296008e7bdbca0790b7db1e124ff58ac05940a01b290f6e1dbb9b90
WARNING: AcceptBlock(): check proof-of-stake failed for block f305539e1a48b24c9b804e6e212a88f1f73433858e01b0db70147f4d31102425
ERROR: ProcessBlock() : AcceptBlock FAILED

Is that something going wrong, or is that normal?  (Also, is there anything personally-identifiable in there that I should edit out?)

Finally, how does the wallet work exactly?  I understand that it stores the private keys to the public addresses that I can publish, but how do coins play into it?  What specific (private) data do I need from a wallet.dat backup in case of data loss, and what is recoverable from the blockchain?

Thanks!

[jawitech]

Hi All!
I just started mining Magi yesterday - it's the first cryptocurrency I've ever mined!

Hello and welcome to the Magi community. Happy to see that our community grows and more and more people are interested in our project.

Unfortunately I'm not able top help, our dev Joe or Spexx who developed a miner software for Magi, will be able to. They will show up in a few hours. Just wanted to avoid you think nobody is active here.

[NewtonsMthd]

Hello and welcome to the Magi community. Happy to see that our community grows and more and more people are interested in our project.

Thanks!  Glad to see CPU mining is back, and it looks like a friendly community, too!

Is there a forum beyond this one massive thread?  It's a bit..hard to keep track of?

Thanks

[NewtonsMthd]

The wallet miner can only solo mine - it's also slower, almost always.

Ah, good to know.  I figured the same basic source would be in both, and was wondering why the instructions would recommend a separate process then.

I don't know, but generally people hate having to sign up for yet another forum for every coin they're interested in, so you'll find most activity here, I think.

Fair enough - hopefully some of the key information will be available on the site with the relaunch.

[111magic]

The wallet miner can only solo mine - it's also slower, almost always.

Ah, good to know.  I figured the same basic source would be in both, and was wondering why the instructions would recommend a separate process then.

I don't know, but generally people hate having to sign up for yet another forum for every coin they're interested in, so you'll find most activity here, I think.

Fair enough - hopefully some of the key information will be available on the site with the relaunch.

There is an other forum. http://www.m-talk.org/
Team is trying to update this one also but because of the new developments, promotions and other websites its not up to date yet. 
 

[NewtonsMthd]

There is an other forum. http://www.m-talk.org/
Team is trying to update this one also but because of the new developments, promotions and other websites its not up to date yet. 

I'll hang around here and hopefully not repeat too many questions, then

[111magic]

There is an other forum. http://www.m-talk.org/
Team is trying to update this one also but because of the new developments, promotions and other websites its not up to date yet. 

I'll hang around here and hopefully not repeat too many questions, then

No problem! Just feel welcome here or there!