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Author Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]  (Read 1632519 times)
SamWalters
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Sam Mother Fuckin' Walters


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September 14, 2014, 05:01:01 PM
 #781

Pool operators, are you ready?

hashharder?  
nonce-pool?
goldmin.es?  You guys here?  

I've contacted goldmine only about being prepared but no response yet. Not sure about the others.





Why would you want to pool mine a cpu only coin on launch date?! Sounds silly and greedy to me!

Greedy? isn't diversity of pools important?

These are not my pools. I'm not making fees on them, so I am not biased as you think I am.

Did you not listen to the guy? We need difficulty up hence if there is lots more people here for this launch, we all make more coins.

Now I've already begun some promotions with a few others helping me
let's start with the importance of understanding how (early miners) don't have an advantage.
http://www.reddit.com/r/CryptoCurrency/comments/2gdpk6/new_algo_launch_moments_away_xmg_coin_magi/

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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SamWalters
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September 14, 2014, 05:03:52 PM
 #782


Now I've already begun some promotions with a few others helping me
let's start with the importance of understanding how (early miners) don't have an advantage.
http://www.reddit.com/r/CryptoCurrency/comments/2gdpk6/new_algo_launch_moments_away_xmg_coin_magi/


That reddit links to the post that describes it here:

[09-10] Updated OP & coin distribution review

The OP has been reformatted and has a new look now. As I mentioned before, there are some figures yet to be reviewed for finalizing. The PoW mining is divided into two phases. The 1st phase is most important, that has dual roles. The 1st phase XMG minting is supposed to yield significant coins. Second, this is to ensure coins will be minted dominantly by CPU. We primarily focus on finalizing this phase of PoW. The overall block rewards take the following form: 


Features:

# The low diff (less people mining), minimum rewards (10 XMG/block);
# The higher diff, higher rewards, up to 500 XMG/block at diff = 75;
# At even higher diff, reduced rewards with increasing diff (constant 10 XMG/block when diff > 600)

Predicted consequence is fair distribution, avoiding big mining farms and maintaining the network hash under a certain level (unlike BTC network keep increasing). It will frustrate mining farms (if existed) when network hashrate is so high that the mining rewarding is at the decline side. Mining XMG is less profitable compared to mining others; only belivers keeping mining will receive the most out of it. Same frustration applies to GPU miners if they existed.

Important figures include:
1) minimum rewards; 2) maximum 500 XMG/block at diff = 75; 3) reducing rate at high diff.   (open to suggestions)

The most important will be 2) maximum 500 XMG/block at diff = 75. Assume mining at 500 XMG/block, the 1st phase will be done in a month. So basically I'd like to know you prefer how long the 1st phase lasts. Diff = 75 means nearly 2,000 Mhps provided Diff / Mhps is 0.037 (seems reasonable assumption, compared to DRK about 0.039 Diff / Mhps ). Considering AMD CPU miners running at around 0.5Mhps each, that amounts to 4,000 CPU. We are mostly under the limit. Please check the OP for the 2nd phase rewarding.

Edit: I noticed people are interested to the CPU mining, so I am wondering if we should give extended period of mining and increase the number of coins minted through CPU. Please suggest.

The PoS-II interest rate is shown below.

Edit: Here following is the overview of coin distribution in different stages:

1) coins to be swapped: 4.5 million (existing magicoin)
2) PoW 1st phase:        5.5 million (short-term)
3) PoW 2nd phase:        5   million (long-term)
4) PoS-II:                   10  million (long-term)

Total coins will be 25 million.
PLAN changed, read the OP and relevant discussion. We're still able to change these numbers if you like. For some reason, coin swap won't be done totally, these unswapped coins can be either destroyed or issued fairly to the bitcoin members by the time.

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
dadesu
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September 14, 2014, 05:04:13 PM
 #783

Pls dont rush with new miner  Sad
Test few days and launch in few days  Wink

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yyweilai
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September 14, 2014, 05:18:46 PM
 #784

where is dev?? Huh
bitkokos
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0_0


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September 14, 2014, 05:19:35 PM
 #785

Pls dont rush with new miner  Sad
Test few days and launch in few days  Wink

+1
I 101% agree with you

+2
I agree. let the dev finish, test and let us know. it's so stupid waiting for hours like this.
When he finishes, it's better to say he will launch e.g. in 3 days at that time.

O_o
Gladimor
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Ignore the negative feedback.


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September 14, 2014, 05:21:40 PM
 #786

Correct me here- what is the extreme immediate necessity of a Windows Miner, if we could directly mine from our Windows wallets, using "setgenerate true"?

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September 14, 2014, 05:26:22 PM
 #787

unless wallet can pool mine... its very important to have windows miner. but my guess is as good as yours if wallet supports pool mining
aloney
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September 14, 2014, 05:30:40 PM
 #788

what are we waiting?

PPL:XunifRT3qvqnPi8kQ2PyLSSejHrSnUTHtX
Hix
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September 14, 2014, 05:34:28 PM
 #789

Pls dont rush with new miner  Sad
Test few days and launch in few days  Wink
Huh Launch delayed many times.

Joe launch coin today.  
yyweilai
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September 14, 2014, 05:39:14 PM
 #790

dev, fell asleep again? Huh
GoldMin.es
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September 14, 2014, 05:41:23 PM
 #791

so i take it the coin has finally launched. i would add this to my pool, but i dont see a github link anywhere.

without source, we will not add coin to our pool.

GoldMin.es Pool  BTC: 1GU1eqwtBpbiJMyDBqz8GX6em4SVLwuV
lama82
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September 14, 2014, 05:43:04 PM
 #792

so i take it the coin has finally launched. i would add this to my pool, but i dont see a github link anywhere.

Not launched yet!
milujute
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September 14, 2014, 05:45:20 PM
 #793

DEV  Grin
yyweilai
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September 14, 2014, 05:45:31 PM
 #794

dev, offline! We wash sleep! Grin Grin Grin
GamerMiner
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September 14, 2014, 05:47:37 PM
 #795

Let him the time to provide a workig miner  Undecided

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬   RevolverCoin   ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
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Zlush1337
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September 14, 2014, 05:54:10 PM
 #796

can the coin mined by an asic miner?
GamerMiner
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September 14, 2014, 05:55:08 PM
 #797

Response in the title :

[ANN-Launch on Sep 13] [XMG] Magi | 1st POS-II | Fair Distr | Tor | M7M CPU only

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬   RevolverCoin   ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
⎩  NO ICO  ♦  NO PREMINE  ♦  X11EVO ALGO  ♦  ASIC RESISTANT  ⎭
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ XRE ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
GoldMin.es
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September 14, 2014, 05:58:41 PM
 #798

DEV is waiting for WINDOWS WALLET, and a WINDOWS MINER.

GoldMin.es Pool  BTC: 1GU1eqwtBpbiJMyDBqz8GX6em4SVLwuV
yyweilai
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September 14, 2014, 05:59:54 PM
 #799

dev, dev, dev set the countdown, F5 to bad, thank you!
Zlush1337
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September 14, 2014, 06:02:04 PM
 #800

is he able to release the coin in the next 2 hours?^^
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