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

[thefix]

5000 KH from one person on one of the pools

Someone isn't playing very nice

Someone always finds a way to beat the system

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[111magic]

Here is a sneak preview of what I have coming up. Autominer v4 lives and will henceforth be known as "The Mining Mage". With massive thanks to Goldlabel for the superb, shall we say "iconic", Minecraft-style  images. I thought this particular one was very appropriate.

Spexx any news about this awesome development?

[Spexx]

Spexx any news about this awesome development?

I hope to release a beta version of The Mining Mage to a few selected testers within the next 48 hours, but it is only one part of a larger project which I do not expect to be complete until July at the very earliest.

On the mining side, it does not provide very much additional functionality over the current Autominer V3, but integrates this with the Miner Speed Controller (including SweetSpot targeting) and a new feature called TempMax, which prevents the CPU from overheating. With the Autominer V3 it was not possible to select the number of threads used in Simplex mode (one had to use Multiplex mode instead) but this newer version removes that restriction (as promised). The main difference is in the GUI. The sequential question/answer boxes have gone and there is just one form to fill in instead. The miner configuration form took a very long time to write and perfect - far longer than expected actually due to all the possible permutations - but that is all done and appears to be working as sweet as a nut.

There is rather more to it than just the mining side though. We have a Wallet Mage too, plus one-click updates and a whole bunch of comprehensive help files. Watch this space for details.

Edit: The whole thing is designed to run from a memory stick if required, so it will be fully portable and the software does not have to be installed on the computer hard drive.

[Spexx]

5000 KH from one person on one of the pools

Someone isn't playing very nice

Someone always finds a way to beat the system

Yep I spotted them earlier. They have not beaten the system at all. The system has already responded by reducing the block reward to peanuts.

There just isn't the headroom available now to support a bulldozer trying to muscle-in. If you look a few posts back I posted a graph of the XMG block reward vs hashrate. Without the bulldozer we were running at around 42 Mh/s total hashrate, which is right on the point where the downward slope of the graph reaches a maximum gradient. Anything above that (magic) number will have the XMG block reward plummeting towards zero very quickly - which just happened a few minutes ago.

My machines use SweetSpot targeting, so it has reduced my hash output and I am saving energy until the block rewards rise again.

[111magic]

Spexx any news about this awesome development?

I hope to release a beta version of The Mining Mage to a few selected testers within the next 48 hours, but it is only one part of a larger project which I do not expect to be complete until July at the very earliest.

On the mining side, it does not provide very much additional functionality over the current Autominer V3, but integrates this with the Miner Speed Controller (including SweetSpot targeting) and a new feature called TempMax, which prevents the CPU from overheating. With the Autominer V3 it was not possible to select the number of threads used in Simplex mode (one had to use Multiplex mode instead) but this newer version removes that restriction (as promised). The main difference is in the GUI. The sequential question/answer boxes have gone and there is just one form to fill in instead. The miner configuration form took a very long time to write and perfect - far longer than expected actually due to all the possible permutations - but that is all done and appears to be working as sweet as a nut.

There is rather more to it than just the mining side though. We have a Wallet Mage too, plus one-click updates and a whole bunch of comprehensive help files. Watch this space for details.

Edit: The whole thing is designed to run from a memory stick if required, so it will be fully portable and the software does not have to be installed on the computer hard drive.

Nice Spexx. I will be here to see whats coming!!!

[thefix]

5000 KH from one person on one of the pools

Someone isn't playing very nice

Someone always finds a way to beat the system

Yep I spotted them earlier. They have not beaten the system at all. The system has already responded by reducing the block reward to peanuts.

There just isn't the headroom available now to support a bulldozer trying to muscle-in. If you look a few posts back I posted a graph of the XMG block reward vs hashrate. Without the bulldozer we were running at around 42 Mh/s total hashrate, which is right on the point where the downward slope of the graph reaches a maximum gradient. Anything above that (magic) number will have the XMG block reward plummeting towards zero very quickly - which just happened a few minutes ago.

My machines use SweetSpot targeting, so it has reduced my hash output and I am saving energy until the block rewards rise again.

Not hard to beat the system. With 51%, you can orphan others' blocks. So I simply whip up a GPU miner, and with a very small number of cards, less than 20, likely, I can orphan you all to oblivion while getting ALL the block rewards - as long as I keep my hashrate under a certain threshold.

Nice, I had a feeling that was some GPU action going on

I like to see flaws exposed for the betterment of the community.

I am guessing a decent GPU can pull 200-250 khs and probably has room for even more improvement?

Sweetpot keeps you at an optimal level and basically allows you to hijack the network which is a very cool way to keep the price up and make sure you always get the lions share of mining. Nice work!

How would you fix that issue?

[thefix]

5000 KH from one person on one of the pools

Someone isn't playing very nice

Someone always finds a way to beat the system

Yep I spotted them earlier. They have not beaten the system at all. The system has already responded by reducing the block reward to peanuts.

There just isn't the headroom available now to support a bulldozer trying to muscle-in. If you look a few posts back I posted a graph of the XMG block reward vs hashrate. Without the bulldozer we were running at around 42 Mh/s total hashrate, which is right on the point where the downward slope of the graph reaches a maximum gradient. Anything above that (magic) number will have the XMG block reward plummeting towards zero very quickly - which just happened a few minutes ago.

My machines use SweetSpot targeting, so it has reduced my hash output and I am saving energy until the block rewards rise again.

The problem is they control the network and price this way

[Spexx]

Not hard to beat the system. With 51%, you can orphan others' blocks. So I simply whip up a GPU miner, and with a very small number of cards, less than 20, likely, I can orphan you all to oblivion while getting ALL the block rewards - as long as I keep my hashrate under a certain threshold.

You make it sound easy, but I'm quite sure that you know that even a 51% attack is only theoretically possible and only has a chance of success i.e. it is by no means certain that you can get the rest of the network to cooperate with the attack.

Furthermore, you have the POS blocks to complicate matters in a hybrid blockchain and they are generated more frequently than the POW blocks.

In addition, if you were to attempt a 51% attack you would need around 50+ Mh/s . This would make the total hashrate around 100 Mh/s and the block rewards would be dust. You can mine as many of those as you like and it wouldn't make a dent.

In conclusion then, yes it is theoretically possible, but there would be no reason for doing it for the money.

Nice to see you on here again Wolf0. I named my latest machine build after you

[Spexx]

The problem is they control the network and price this way

I don't see how one can leap to that conclusion.

Please ... FUDding we don't need.

[111magic]

Thats right! But the team will work very hard to achieve more unique development!

[Spexx]

Sweetpot keeps you at an optimal level and basically allows you to hijack the network which is a very cool way to keep the price up and make sure you always get the lions share of mining. Nice work!

That is pure fiction. Sweet Spot can be set with any threshold you choose to save energy wasted with chasing dust and as for "hijacking the network" that is a non-specific cliche expression and just a total non-sequitur.

[thefix]

The problem is they control the network and price this way

I don't see how one can leap to that conclusion.

Please ... FUDding we don't need.

If a person had a low cost way of keeping the hash rate up for an extended period of time and owned a large amount of Magi in theory wouldn't they be able to keep the price higher by not allowing others to mine as much?

Unless of course we talk about it here and realize whats going on?

Not trying to FUD, just trying to explain my thought process with this.

[AngelLox]

Hi, is this still a thing?
http://www.m-talk.org/viewtopic.php?t=88
What hash rate would i need to have a consistent revenue?

[thefix]

5000 KH from one person on one of the pools

Someone isn't playing very nice

Someone always finds a way to beat the system

Yep I spotted them earlier. They have not beaten the system at all. The system has already responded by reducing the block reward to peanuts.

There just isn't the headroom available now to support a bulldozer trying to muscle-in. If you look a few posts back I posted a graph of the XMG block reward vs hashrate. Without the bulldozer we were running at around 42 Mh/s total hashrate, which is right on the point where the downward slope of the graph reaches a maximum gradient. Anything above that (magic) number will have the XMG block reward plummeting towards zero very quickly - which just happened a few minutes ago.

My machines use SweetSpot targeting, so it has reduced my hash output and I am saving energy until the block rewards rise again.

Not hard to beat the system. With 51%, you can orphan others' blocks. So I simply whip up a GPU miner, and with a very small number of cards, less than 20, likely, I can orphan you all to oblivion while getting ALL the block rewards - as long as I keep my hashrate under a certain threshold.

Nice, I had a feeling that was some GPU action going on

I like to see flaws exposed for the betterment of the community.

I am guessing a decent GPU can pull 200-250 khs and probably has room for even more improvement?

Sweetpot keeps you at an optimal level and basically allows you to hijack the network which is a very cool way to keep the price up and make sure you always get the lions share of mining. Nice work!

How would you fix that issue?

I haven't made one, but I know someone who has. I would estimate hashrates quite a bit higher than that.

AMD or Nvida and would they be willing to release it to the community for a fee?

[111magic]

Posted new development again because otherwise its between other the other conversation!  

Thanks to theFruitsClan the following development is launched:

Special unique development made for Magi (XMG)

In the game Minecraft there is a market
On that market you can buy weapons and materials!
Payments with XMG are now accepted on this economy server.
Magi brings the crypto world and game world closer together!

[Spexx]

Nice one 111magic Do it again after this one mate

Why on earth would anybody want to buy a useless piece of software? We just saw what happened when *somebody* cough cough fired up their bulldozer earlier. If everybody has a GPU miner for XMG and runs it at max power on even a modest card, the total hashrate would be waaaay above threshold and the block rewards would be zero. I can't think of a better way of wasting money and energy (well actually I can but you catch my drift?).

[111magic]

Magi (XMG) keeps going on with awesome developments!
With the great support from theFruitsClan a new project will be in progress!
If you have a special request just post them here.



 

[Spexx]

Nice one 111magic Do it again after this one mate

Why on earth would anybody want to buy a useless piece of software? We just saw what happened when *somebody* cough cough fired up their bulldozer earlier. If everybody has a GPU miner for XMG and runs it at max power on even a modest card, the total hashrate would be waaaay above threshold and the block rewards would be zero. I can't think of a better way of wasting money and energy (well actually I can but you catch my drift?).

This. He will never release it, because it would simply make the block reward zero lol

Absolutely and your improved CPU miner helped the community reach the current level of total hashrate somewhat earlier than would otherwise have been the case. That more than anything has helped to keep the bulldozers at bay and will continue to do so.

[thefix]

Tested a Intel Celeron J1900 @ 1.99GHz quad core on Linux and Windows

Getting a steady 20-20.5 KHs on both linux and windows with Linux having a slight advantage

The power usage at the wall is about 22 Watts under full load with passive cooling

Motherboards with embedded cpu included run about $60-$70

[feldenthorne]

Hi, is this still a thing?
http://www.m-talk.org/viewtopic.php?t=88
What hash rate would i need to have a consistent revenue?

Yes, that is still a thing - it's a really easy compile. (I'll point out that, in general, you'll get the same results without the configure options*. Not specifying them will just build with the system's defaults, which will result in similar/possibly-identical optimization.)

As for what hashrate you would need for consistent profit... You can just assume that the RPi/RPi2 is constantly using 5W and do some calculations based on the value of the coin.

* With data collected over about 2 months, the difference between compiles with digibob00's configure flags and without them is statistically insignificant.
Compile flags: Mean: 4.8317 (kH/s), s: 0.322 (kH/s), N=5192371 (s)
No Compile flags: Mean 4.8319 (kH/s), s: 0.327 (kH/s), N=5977103 (s)