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

[111magic]

Its a little screen from the movie im making.
Wow thats great news for everyone who lost there XMG coins, respect Joe  

Great! Remember community check the link and post there the pictures, video's or games also.
There are rewards available!

Magi World Online Campaign!

Magi (XMG) the unique coin of the future
launches the Magi World Online Campaign
This multiple promotion campaign rewards current community members by receiving some extra XMG and offers new members the opportunity to become acquainted with the Coin of the Magi and receive their first XMG for free.
The tour consists of multiple assignments for which you can receive some XMG.

Check here: http://bitcoingarden.tk/forum/index.php?topic=3315.msg89738#msg89738

[1713630092]

1713630092

[Spexx]

Da fuck is his deal? Doesn't he/she knows how Magi works?
 

Yo MagiSimpson, calm down a bit!!!!

Been with us from the start. Ought to know better .... and not the only one either.

5400 kH/s is HUGE!
For a comparison, I've been trying some mining with a server that I use for FEM modeling and it was about 300 kH/s. 5400 is almost 20 time that, that would be something like 600 xeon cores, no way it's not a botnet.

... or about 385 Vishera cores which would be 48 x AMD 9590s, so it could easily be a server farm.

There was a time early on when we needed high hashrates like that, but certainly not now and it is killing the block rewards. The last time that I did some calculations on it, anybody mining at over 250 Kh/s was part of the problem. I have actually corresponded with a few of the overminers - deaf ears I'm afraid. Stuck with Bitcoin thinking. 5400 Kh/s is not only huge, it's obscene.

In addition, you might notice that nearly all the huge miners do not donate anything extra to the pool(s) either. Now that is shameful. Plus, their overmining is severely reducing the income for the pool(s). I would like to suggest that the pool operators might consider voluntarily limiting individual hashrates just to protect their income stream from the coin.

[vince232]

Da fuck is his deal? Doesn't he/she knows how Magi works?
 

Yo MagiSimpson, calm down a bit!!!!

Been with us from the start. Ought to know better .... and not the only one either.

5400 kH/s is HUGE!
For a comparison, I've been trying some mining with a server that I use for FEM modeling and it was about 300 kH/s. 5400 is almost 20 time that, that would be something like 600 xeon cores, no way it's not a botnet.

... or about 385 Vishera cores which would be 48 x AMD 9590s, so it could easily be a server farm.

There was a time early on when we needed high hashrates like that, but certainly not now and it is killing the block rewards. The last time that I did some calculations on it, anybody mining at over 250 Kh/s was part of the problem. I have actually corresponded with a few of the overminers - deaf ears I'm afraid. Stuck with Bitcoin thinking. 5400 Kh/s is not only huge, it's obscene.

isnt that guy loosing money? 74 magi a day so 2200-2300 a month. so thats like .13 btc a month. i guess power bill is bigger than .13 a month

[Spexx]

isnt that guy loosing money? 74 magi a day so 2200-2300 a month. so thats like .13 btc a month. i guess power bill is bigger than .13 a month

Precisely. It makes no economic sense whatsoever. I assume that somebody else is paying for the electricity.

[vince232]

sorry buy how do the PoS work the explanation is so complicated.

what is the min coin age maxcoin age
and interest rate?

[z0n0]

isnt that guy loosing money? 74 magi a day so 2200-2300 a month. so thats like .13 btc a month. i guess power bill is bigger than .13 a month

Precisely. It makes no economic sense whatsoever. I assume that somebody else is paying for the electricity.

yup, 99%
these big farmers are really fucking us normal mortals   

[Spexx]

sorry buy how do the PoS work the explanation is so complicated.

what is the min coin age maxcoin age
and interest rate?

Well I sent all my coins to myself in one wallet yesterday evening at 20:00 and got the first POS reward from it at 5:20 this morning. The amount of the reward was about 10 times greater than average. I will find that after 30 days the rewards come in so infrequently that I will have to send all the coins to myself again. The current Stake Weight is about a quarter of the wallet balance and this will rise to about twice the wallet balance over the next 10 days or so, then tail-off to a very low figure in 30 days time. The interest rate is 2 percent equivalent APR.

Incidentally, I don't fully understand the inner workings either, but I can observe how it works in practice

[S3cco]

"Magi World Online Campaign"... Magi hit Florence : )



(Magi World Online Campaign Thread: http://bitcoingarden.tk/forum/index.php?topic=3315.0

[vince232]

sorry buy how do the PoS work the explanation is so complicated.

what is the min coin age maxcoin age
and interest rate?

Well I sent all my coins to myself in one wallet yesterday evening at 20:00 and got the first POS reward from it at 5:20 this morning. The amount of the reward was about 10 times greater than average. I will find that after 30 days the rewards come in so infrequently that I will have to send all the coins to myself again. The current Stake Weight is about a quarter of the wallet balance and this will rise to about twice the wallet balance over the next 10 days or so, then tail-off to a very low figure in 30 days time. The interest rate is 2 percent equivalent APR.

Incidentally, I don't fully understand the inner workings either, but I can observe how it works in practice

so the reward varies?
not like other coins which has a fixed interest rate?

[Spexx]

sorry buy how do the PoS work the explanation is so complicated.

what is the min coin age maxcoin age
and interest rate?

Well I sent all my coins to myself in one wallet yesterday evening at 20:00 and got the first POS reward from it at 5:20 this morning. The amount of the reward was about 10 times greater than average. I will find that after 30 days the rewards come in so infrequently that I will have to send all the coins to myself again. The current Stake Weight is about a quarter of the wallet balance and this will rise to about twice the wallet balance over the next 10 days or so, then tail-off to a very low figure in 30 days time. The interest rate is 2 percent equivalent APR.

Incidentally, I don't fully understand the inner workings either, but I can observe how it works in practice

so the reward varies?
not like other coins which has a fixed interest rate?

The rewards vary and so do their frequency, but the daily income works out around 2 percent equivalent APR fairly consistently as long as you send your coins to yourself from time to time. Like I said, the first reward I got this morning was about ten times bigger than average, but I will not be getting rewards that size very frequently. In a few days time, I will be seeing rewards come in very frequently (so much so that the "Incoming Transaction" notifications become a nuisance and I turn them off) but the amounts will be smaller - it all averages out to 2 percent.

Edit: The one reward I got earlier actually works out at 5 percent equivalent APR just on its own, but I will not be seeing one that size again anytime soon.

[vince232]

sorry buy how do the PoS work the explanation is so complicated.

what is the min coin age maxcoin age
and interest rate?

Well I sent all my coins to myself in one wallet yesterday evening at 20:00 and got the first POS reward from it at 5:20 this morning. The amount of the reward was about 10 times greater than average. I will find that after 30 days the rewards come in so infrequently that I will have to send all the coins to myself again. The current Stake Weight is about a quarter of the wallet balance and this will rise to about twice the wallet balance over the next 10 days or so, then tail-off to a very low figure in 30 days time. The interest rate is 2 percent equivalent APR.

Incidentally, I don't fully understand the inner workings either, but I can observe how it works in practice

so the reward varies?
not like other coins which has a fixed interest rate?

The rewards vary and so do their frequency, but the daily income works out around 2 percent equivalent APR fairly consistently as long as you send your coins to yourself from time to time. Like I said, the first reward I got this morning was about ten times bigger than average, but I will not be getting rewards that size very frequently. In a few days time, I will be seeing rewards come in very frequently (so much so that the "Incoming Transaction" notifications become a nuisance and I turn them off) but the amounts will be smaller - it all averages out to 2 percent.

thanks spexx! 2 percent monthly? 2 percent annually? or every time i get a reward it would be roughly 2% of the amount of my coins?

[Spexx]

thanks spexx! 2 percent monthly? 2 percent annually? or every time i get a reward it would be roughly 2% of the amount of my coins?

I was very careful to state "2 percent equivalent APR" there - 2 percent annual percentage rate, simple interest on the balance in the wallet. You will see that I edited my previous post too. The one reward I got earlier was 5 percent equivalent APR by itself, if I got just one like that every day, whoopdidoo, but I will not get another one that size again next time. It will average out over time.

[vince232]

thanks spexx! 2 percent monthly? 2 percent annually? or every time i get a reward it would be roughly 2% of the amount of my coins?

I was very careful to state "2 percent equivalent APR" there - 2 percent annual percentage rate, simple interest on the balance in the wallet. You will see that I edited my previous post too. The one reward I got earlier was 5 percent equivalent APR by itself, if I got just one like that every day, whoopdidoo, but I will not get another one that size again next time. It will average out over time.

oops sorry missed that one! thanks!

[Spexx]

Here are the numbers for illustration:-

Wallet balance 800 XMG (give or take)
First reward just in 0.11 XMG (give or take - rather exceptional size actually)

So,

0.11 XMG times 365 days = 40.15 XMG per annum (if I got a reward that size every day)

Divide that by the wallet balance

40.15 / 800 = 0.0502

Multiply by 100 to get the percentage = 5.02 percent, say 5 percent.

That particular one was way above expectations.

[dsyahputera]

[Wallet compiling & VPS mining guide]

- snip -

7) Compile cpuminer (copy and past following command)

Code:

cd
git clone https://github.com/magi-project/wolf-m7m-cpuminer-V2
cd m7magi-cpuminer-v2

I recommend the following minerd source which allows adjusting CPU usage.

Code:

cd
git clone https://github.com/magi-project/m-cpuminer-legacy-v2
cd m-cpuminer-legacy-v2

Code:

./autogen.sh
CFLAGS="-O3 -march=native" ./configure
make
sudo cp minerd /usr/local/bin

(notice any errors, let me know if you stuck somewhere)

- snip -

I stuck here:

Code:

checking sys/param.h presence... yes
checking for sys/param.h... yes
checking syslog.h usability... yes
checking syslog.h presence... yes
checking for syslog.h... yes
checking for sys/sysctl.h... yes
checking whether be32dec is declared... no
checking whether le32dec is declared... no
checking whether be32enc is declared... no
checking whether le32enc is declared... no
checking for working alloca.h... yes
checking for alloca... yes
checking for getopt_long... yes
checking for json_loads in -ljansson... no
checking for pthread_create in -lpthread... yes
checking for __gmpz_init in -lgmp... no
configure: error: GNU MP not found, see https://gmplib.org/
[magi@a****lan5 m-cpuminer-legacy-v2]$

[Spexx]

On the subject of overmining, seeing as it seems to a thorny subject right now, I re-ran the figures.

On the pools right now we have 33 miners running at over 250 Kh/s and generating a total of 33807 Kh/s.

Wow! That is a lot.

If each of these [over]miners reduced their hashrate to just 250 Kh/s, the total reduction in hashrate would be 25347 Kh/s

That is staggering.

The total output from all the pools at the moment is roughly 50000 Kh/s (way too much)

So, if we could reduce that by 25347 (lets call it 25000) we would get a total output of 25000 Kh/s - right in the Sweet Spot.

Block rewards would multiply over twenty times above what we are getting now.

Doh!

Edit: Just checked total pool output again at 56000. Double Doh!

[Spexx]

[Wallet compiling & VPS mining guide]

- snip -

7) Compile cpuminer (copy and past following command)

Code:

cd
git clone https://github.com/magi-project/wolf-m7m-cpuminer-V2
cd m7magi-cpuminer-v2

I recommend the following minerd source which allows adjusting CPU usage.

Code:

cd
git clone https://github.com/magi-project/m-cpuminer-legacy-v2
cd m-cpuminer-legacy-v2

Code:

./autogen.sh
CFLAGS="-O3 -march=native" ./configure
make
sudo cp minerd /usr/local/bin

(notice any errors, let me know if you stuck somewhere)

- snip -

I stuck here:

Code:

checking sys/param.h presence... yes
checking for sys/param.h... yes
checking syslog.h usability... yes
checking syslog.h presence... yes
checking for syslog.h... yes
checking for sys/sysctl.h... yes
checking whether be32dec is declared... no
checking whether le32dec is declared... no
checking whether be32enc is declared... no
checking whether le32enc is declared... no
checking for working alloca.h... yes
checking for alloca... yes
checking for getopt_long... yes
checking for json_loads in -ljansson... no
checking for pthread_create in -lpthread... yes
checking for __gmpz_init in -lgmp... no
configure: error: GNU MP not found, see https://gmplib.org/
[magi@a****lan5 m-cpuminer-legacy-v2]$

You need to install GMP math library to your compiler.

[dsyahputera]

[Wallet compiling & VPS mining guide]

- snip -

7) Compile cpuminer (copy and past following command)

Code:

cd
git clone https://github.com/magi-project/wolf-m7m-cpuminer-V2
cd m7magi-cpuminer-v2

I recommend the following minerd source which allows adjusting CPU usage.

Code:

cd
git clone https://github.com/magi-project/m-cpuminer-legacy-v2
cd m-cpuminer-legacy-v2

Code:

./autogen.sh
CFLAGS="-O3 -march=native" ./configure
make
sudo cp minerd /usr/local/bin

(notice any errors, let me know if you stuck somewhere)

- snip -

I stuck here:

Code:

checking sys/param.h presence... yes
checking for sys/param.h... yes
checking syslog.h usability... yes
checking syslog.h presence... yes
checking for syslog.h... yes
checking for sys/sysctl.h... yes
checking whether be32dec is declared... no
checking whether le32dec is declared... no
checking whether be32enc is declared... no
checking whether le32enc is declared... no
checking for working alloca.h... yes
checking for alloca... yes
checking for getopt_long... yes
checking for json_loads in -ljansson... no
checking for pthread_create in -lpthread... yes
checking for __gmpz_init in -lgmp... no
configure: error: GNU MP not found, see https://gmplib.org/
[magi@a****lan5 m-cpuminer-legacy-v2]$

You need to install GMP math library to your compiler.

I don't know how to install it, I just know how to download it

[Spexx]

I don't know how to install it, I just know how to download it

If you have the GMP source, you need to compile it.

./configure --enable-cxx --enable-static --disable-shared --enable-alloca=alloca
(note1: you may have to specify --build=[your hardware] if config.guess gets it wrong)
(note2: using static library gives you a faster miner than shared library)

make

make check (optional test suite before installing)

make install

then run your minerd compile again.

Incidentally, you need other libraries too, such as CURL. Installation is much the same.

[111magic]

Spread trading guys and check also:
https://www.cryptopia.co.nz/Exchange?market=XMG_BTC