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

[NeuroticFish]

Since the hard fork my wallet doesn't want to PoS.
Either gives me a lot of days (at least 100) until next income, either tells that I don't have mature coins.
Is it a bug or it's something I've missed?

[1714552504]

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[1714552504]

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[joelao95]

so I am wondering those people are likely uncomfortable with the hard fork and the new form of PoW and PoS-II?   ....

What has actually been changed? (in a few words please)

All mentioned by Spexx are perfect summary of this fork except that we don't really put the minimum limitation now. Someone mentioned that minimum of 3XMG could be the cause of the big miners' sticking around for example what if XMG sockets up hugely, that's a valid point though unlikely.

I do like PoS-II; the PoS does have a stable payout as I can see. XMG is also simply rejected by pool staking, that actually could cause security issues to PoS.

[joelao95]

so I am wondering those people are likely uncomfortable with the hard fork and the new form of PoW and PoS-II?   ....

What has actually been changed? (in a few words please)

Very little.

The POW (mining) algo has not changed. The block reward system has been tweaked to smooth-out wild fluctuations in the difficulty and to allow for steady future growth. The maximum and minimum block rewards are still 50 and 3 respectively. I liked POW pretty much as it was, but now it is actually better. When the big miners finally get the message that throwing more than about 250 Kh/s at this coin is counter-productive, we should see the return of larger block rewards and it will be better for everybody.

Still not convinced by this one... If you decrease by a factor 2 your hashrate, you will most likely end up with 2x less coins...

That's quite right from case mining point of view in a short term when the overall situation doesn't change much. We can imagine a few instances:

# Block rewards 50 XMG, people tend increase hashrate
# Block rewards 0 XMG, people tend to quit mining
# At stable condition, for example, with 1000 miners and 10 XMG block, the network is gonna be strong; for example, one firing up his farm 10 Mh/s will push block rewards to 0 XMG, that means, when he joins in, he get 0 XMG; back to normal value when he exits. That's an interesting thinking.
# In a case where we have generic miners and big farms too, with block rewards 10 XMG; each miners just do their own job, think about the situation that we have more generic miners joining in.

The above are saying under ideal situations. The practice could be that some people have the advantages of free electricity, or having a better miner, etc, but the general direction along which the rewarding system works is right.

[joelao95]

Since the hard fork my wallet doesn't want to PoS.
Either gives me a lot of days (at least 100) until next income, either tells that I don't have mature coins.
Is it a bug or it's something I've missed?

Sounds like not sufficient stakeweight. How much balance in your wallet? What is your "stakeweight" from the output of getmininginfo?

Also follow this for best staking:
https://bitcointalk.org/index.php?topic=735170.msg10016863#msg10016863

Move coins to another wallet, and send back to the staking wallet, split them into different transactions.

[Spexx]

betasharex is based on the scam coin exchange sharex (sharecoin), they disappeared with all people fund.
I can't believe that anyone trust an exchange which looks exactly the same and has the same name apart from the "beta" part.

Thanks for the heads-up. I lost enough coins to buy a can of beer. I am not a big drinker so I will not be losing any sleep over it. Karma.

[111magic]

Not such a smart whale if it was one, more like a panic sell by someone needing to cash out.
However, those of us who were smart enough to buy, have already seen the value of their XMG purchase increase.

You right! Think it might be a P&D action.
Some people who panic will sell. New people will buy.
You never know it advance but one thing is clear Magi will show something Magical!

[NeuroticFish]

Sounds like not sufficient stakeweight. How much balance in your wallet? What is your "stakeweight" from the output of getmininginfo?

Also follow this for best staking:
https://bitcointalk.org/index.php?topic=735170.msg10016863#msg10016863

Move coins to another wallet, and send back to the staking wallet, split them into different transactions.

Stackweight: min 0 , max 0, combined 0
Balance: about 110 XMG - yeah, pennies, I know. But before I got ~ 0.02 XMG/day of this.
Maybe I'll just give up...

[111magic]

Sounds like not sufficient stakeweight. How much balance in your wallet? What is your "stakeweight" from the output of getmininginfo?

Also follow this for best staking:
https://bitcointalk.org/index.php?topic=735170.msg10016863#msg10016863

Move coins to another wallet, and send back to the staking wallet, split them into different transactions.

Stackweight: min 0 , max 0, combined 0
Balance: about 110 XMG - yeah, pennies, I know. But before I got ~ 0.02 XMG/day of this.
Maybe I'll just give up...

Staking not working for you?
If you have some coins on exchange just sent it to your wallet.
Think Staking works better with more coins in your wallet.
You can give it a change!

[111magic]

FYI price is on his way back!
Still think its sellbot. No person can change that quick!
Maybe some competition or P&D action.
Shows that the Magi community is very strong! Great to see!

[joelao95]

Sounds like not sufficient stakeweight. How much balance in your wallet? What is your "stakeweight" from the output of getmininginfo?

Also follow this for best staking:
https://bitcointalk.org/index.php?topic=735170.msg10016863#msg10016863

Move coins to another wallet, and send back to the staking wallet, split them into different transactions.

Stackweight: min 0 , max 0, combined 0
Balance: about 110 XMG - yeah, pennies, I know. But before I got ~ 0.02 XMG/day of this.
Maybe I'll just give up...

Looks like your wallet just starts staking? any transactions recently? That's the reason showing insufficient weight; notice that the expected time is never accurate.

The actual expected time to earn PoS rewards is about 2-3 days for coins 100 XMG or so under current network weight. It's better to stake all of your coins together; you can do so by sending all to an address. You can close your wallet then and keep it offline; be sure to check back the status for example, 1 day later, the stake weight and expected time to earn rewards (just estimate). You will receive interest for sure.

It's not that much benefiting though by staking 110 XMG though (this is also for security considerations, just imagine other people/network can get interests far more than you), but you don't have to remain the wallet online, just check it from time to time. For better result, storing more coins like 500 XMG will get you rewards in less than half day (in this case better to be online more often to ensure rewards received).

Rules: Don't send coins during staking, or stake time will be reset. Don't keep the wallet offline for more than 5 days in any circumstance, or you need to reset the stake time.

[Spexx]

so I am wondering those people are likely uncomfortable with the hard fork and the new form of PoW and PoS-II?  ....

What has actually been changed? (in a few words please)

Very little.

The POW (mining) algo has not changed. The block reward system has been tweaked to smooth-out wild fluctuations in the difficulty and to allow for steady future growth. The maximum and minimum block rewards are still 50 and 3 respectively. I liked POW pretty much as it was, but now it is actually better. When the big miners finally get the message that throwing more than about 250 Kh/s at this coin is counter-productive, we should see the return of larger block rewards and it will be better for everybody.

Still not convinced by this one... If you decrease by a factor 2 your hashrate, you will most likely end up with 2x less coins...

Sorry mate but that is "Bitcoin" thinking

This is XMG Magi and you need to work smart, not hard.

Let's do some back-of-a-cigarette-packet calculations:-

Assume that for every 1 Kh/s you generate, you can earn 0.04 XMG per day.

(This is realistic even with the current low block rewards at a rough average of 3 XMG).

Thus, with a rig generating 250 Kh/s you can generate 250 x 0.04 = 10 XMG per day.

Similarly, with 2.5 Mh/s you can generate 2500 x 0.4 = 100 XMG per day

So, if all the miners currently hashing away at greater than 250 Kh/s decided to slow things down to just 250 Kh/s voluntarily, it would shave something like 20 Mh/s off the total network hashrate. and bring that down to the "sweet spot" around 22 Mh/s.

When that happens, something magical happens. The block reward goes up to 50. Let's say it goes up from an average of 3 to an average of 48. That is a factor of 16 times bigger.

So, mining at 1 Kh/s now generates 0.04 x 16 = 0.64 XMG per day - that's better

Mining at 250 Kh/s now generates 10 x 16 = 160 XMG per day - that's magical!

OK so run that by me again ...

Running a rig at 2.5 Mh/s generates 100 XMG per day (give or take)

If nobody runs a rig at greater than 250 Kh/s it will generate 160 XMG per day (give or take)

So ... use one tenth of the power and generate 60 percent more income.

Discuss ...

[NeuroticFish]

Looks like your wallet just starts staking? any transactions recently? That's the reason showing insufficient weight; notice that the expected time is never accurate.

The actual expected time to earn PoS rewards is about 2-3 days for coins 100 XMG or so under current network weight. It's better to stake all of your coins together; you can do so by sending all to an address. You can close your wallet then and keep it offline; be sure to check back the status for example, 1 day later, the stake weight and expected time to earn rewards (just estimate). You will receive interest for sure.

It's not that much benefiting though by staking 110 XMG though (this is also for security considerations, just imagine other people/network can get interests far more than you), but you don't have to remain the wallet online, just check it from time to time. For better result, storing more coins like 500 XMG will get you rewards in less than half day (in this case better to be online more often to ensure rewards received).

Rules: Don't send coins during staking, or stake time will be reset. Don't keep the wallet offline for more than 5 days in any circumstance, or you need to reset the stake time.

Thank you for the wide explanation! It gives me some ideas on what to do next
I was away for holidays and my wallet was offline until some point this week, when I also updated it to the newest version.
I didn't do transactions with that money foe quite some time, so the "don't send coins" doesn't apply.

[djm34]

something strange, I see 2.73835187 block reward. I thought it shouldn't go below 3xmg

[djm34]

so I am wondering those people are likely uncomfortable with the hard fork and the new form of PoW and PoS-II?   ....

What has actually been changed? (in a few words please)

Very little.

The POW (mining) algo has not changed. The block reward system has been tweaked to smooth-out wild fluctuations in the difficulty and to allow for steady future growth. The maximum and minimum block rewards are still 50 and 3 respectively. I liked POW pretty much as it was, but now it is actually better. When the big miners finally get the message that throwing more than about 250 Kh/s at this coin is counter-productive, we should see the return of larger block rewards and it will be better for everybody.

Still not convinced by this one... If you decrease by a factor 2 your hashrate, you will most likely end up with 2x less coins...

Sorry mate but that is "Bitcoin" thinking

This is XMG Magi and you need to work smart, not hard.

Let's do some back-of-a-cigarette-packet calculations:-

Assume that for every 1 Kh/s you generate, you can earn 0.04 XMG per day.

(This is realistic even with the current low block rewards at a rough average of 3 XMG).

Thus, with a rig generating 250 Kh/s you can generate 250 x 0.04 = 10 XMG per day.

Similarly, with 2.5 Mh/s you can generate 2500 x 0.4 = 100 XMG per day

So, if all the miners currently hashing away at greater than 250 Kh/s decided to slow things down to just 250 Kh/s voluntarily, it would shave something like 20 Mh/s off the total network hashrate. and bring that down to the "sweet spot" around 22 Mh/s.

When that happens, something magical happens. The block reward goes up to 50. Let's say it goes up from an average of 3 to an average of 48. That is a factor of 16 times bigger.

So, mining at 1 Kh/s now generates 0.04 x 16 = 0.64 XMG per day - that's better

Mining at 250 Kh/s now generates 10 x 16 = 160 XMG per day - that's magical!

OK so run that by me again ...

Running a rig at 2.5 Mh/s generates 100 XMG per day (give or take)

If nobody runs a rig at greater than 250 Kh/s it will generate 160 XMG per day (give or take)

and the rig running at 2.5MH/s would get 1600xmg/day ....  
that's why it will never work because there is hope to get that in case some "other" big miners give up  

everybody is fine with reducing hashing power as long as it isn't their hashing power 

[Joker6035]

Hi! Please tell me why sing wallet is not synchronized (out of sync)?

v1.2.0.2-magi
windows 8.1

Magi version v1.2.0.2-magi (1408381731)
Using OpenSSL version OpenSSL 1.0.1h 5 Jun 2014
Startup time: 01/09/15 11:32:16
Default data directory C***AppData\Roaming\Magi
Used data directory C***AppData\Roaming\Magi
dbenv.open LogDir=C***AppData\Roaming\Magi\database ErrorFile=C:*****AppData\Roaming\Magi\db.log
Bound to [::]:8233
Bound to 0.0.0.0:8233
Loading block index...
CBlock(hash=000004c91ca895a8c63176b1671eff34291ad671e59ae46630ffd8f985dd56cc, ver=1, hashPrevBlock=0000000000000000000000000000000000000000000000000000000000000000, hashMerkleRoot=70070d9e41ffd85685f8017fa8620fb5572ed8443822d799015d01d39e7fd4af, nTime=1410566399, nBits=1e0fffff, nNonce=1780637, vtx=1, vchBlockSig=)
  Coinbase(hash=70070d9e41, nTime=1407209706, ver=1, vin.size=1, vout.size=1, nLockTime=0)
    CTxIn(COutPoint(0000000000, 4294967295), coinbase 04ffff001d020f2746537570657220667261636b696e672c205068797369637320546f646179203 6372838292c203334202832303134293b20646f693a2031302e313036332f50542e332e32343830 )
    CTxOut(empty)
  vMerkleTree: 70070d9e41

block.hashMerkleRoot == 70070d9e41ffd85685f8017fa8620fb5572ed8443822d799015d01d39e7fd4af
block.nTime = 1410566399

block.GetHash() == 000004c91ca895a8c63176b1671eff34291ad671e59ae46630ffd8f985dd56cc
block.nNonce = 1780637

SetBestChain: new best=000004c91ca895a8c63176b1671eff34291ad671e59ae46630ffd8f985dd56cc  height=0  money supply=0  trust=1  date=09/12/14 23:59:59
Stake checkpoint: fd11f4e7
ResetSyncCheckpoint: pending for sync-checkpoint 0f29125ecac37d1465490fad8a9f949fb76828e256017affb31406c1ba50900e
ResetSyncCheckpoint: sync-checkpoint reset to 000004c91ca895a8c63176b1671eff34291ad671e59ae46630ffd8f985dd56cc
 block index              65ms
Loading wallet...
nFileVersion = 1020002
Performing wallet upgrade to 60000
keypool added key 1, size=1
keypool added key 2, size=2
keypool added key 3, size=3
keypool added key 4, size=4
keypool added key 5, size=5
*********
keypool added key 94, size=94
keypool added key 95, size=95
keypool added key 96, size=96
keypool added key 97, size=97
keypool added key 98, size=98
keypool added key 99, size=99
keypool added key 100, size=100
keypool added key 101, size=101
 wallet                 1564ms
Loading addresses...
ERROR: CAddrman::Read() : open failed
Invalid or missing peers.dat; recreating
Loaded 0 addresses from peers.dat  1ms
mapBlockIndex.size() = 1
nBestHeight = 0
setKeyPool.size() = 100
mapWallet.size() = 0
mapAddressBook.size() = 1
send version message: version 71040, blocks=0, us=0.0.0.0:0, them=0.0.0.0:0, peer=127.0.0.1:0
Done loading
refreshWallet
AddLocal([2001:0:5ef5:79fd:8c7:2a9b:a053:801d]:8233,1)
DNS seeding disabled
ThreadIRCSeed started
Stake minting enabled at startup.
ThreadOpenAddedConnections started
ThreadOpenAddedConnections exited
ThreadMessageHandler started
ThreadOpenConnections started
ThreadSocketHandler started
ThreadStakeMiner started
MagiMiner started for proof-of-stake
Flushed 0 addresses to peers.dat  5ms
ipcThread started
Flushing wallet.dat
Flushed wallet.dat 20ms
connection timeout
ERROR: GetMyExternalIP() : connection to 91.198.22.70:80 failed
connection timeout
IRC connect failed
IRC waiting 71 seconds to reconnect
connection timeout
ERROR: GetMyExternalIP() : connection to 74.208.43.192:80 failed
connection timeout
ERROR: GetMyExternalIP() : connection to 216.146.39.70:80 failed
connection timeout
ERROR: GetMyExternalIP() : connection to 212.117.175.194:80 failed
Added 5 addresses from 127.0.0.1: 0 tried, 5 new
trying connection 162.245.217.165:8233 lastseen=278.1hrs
connection timeout
trying connection 104.128.225.215:8233 lastseen=264.8hrs
connection timeout
trying connection 104.131.42.100:8233 lastseen=261.3hrs
connection timeout
trying connection 104.131.57.65:8233 lastseen=190.0hrs
connection timeout
IRC connect failed
IRC waiting 138 seconds to reconnect
connection timeout
trying connection 162.245.217.165:8233 lastseen=278.1hrs
connection timeout
trying connection 104.128.225.215:8233 lastseen=264.8hrs
connection timeout
trying connection 104.131.57.65:8233 lastseen=190.0hrs
connection timeout
trying connection 104.131.57.65:8233 lastseen=190.0hrs
Flushed 5 addresses to peers.dat  9ms
connection timeout
trying connection 162.245.217.165:8233 lastseen=278.1hrs
connection timeout
************
Flushed 5 addresses to peers.dat  9ms
connection timeout
trying connection 104.131.57.65:8233 lastseen=190.1hrs

[joelao95]

something strange, I see 2.73835187 block reward. I thought it shouldn't go below 3xmg

We have put decimal and allowed reward to reduce further, someone raised the 3xmg concern; we give the < 3 XMG a long reduction tail: https://bitcointalk.org/index.php?topic=735170.msg10083467#msg10083467

[joelao95]

Hi! Please tell me why sing wallet is not synchronized (out of sync)?

v1.2.0.2-magi
windows 8.1

************
Flushed 5 addresses to peers.dat  9ms
connection timeout
trying connection 104.131.57.65:8233 lastseen=190.1hrs

Give it some time the wallet will be able to connect to nodes, or if you can explicitly add nodes in magi.conf (folder: %appdata%\magi)

Code:

addnode=104.128.225.215
addnode=216.189.144.213
addnode=162.245.217.165
addnode=104.131.57.65
addnode=104.131.42.100

[Joker6035]

Hi! Please tell me why sing wallet is not synchronized (out of sync)?

v1.2.0.2-magi
windows 8.1

************
Flushed 5 addresses to peers.dat  9ms
connection timeout
trying connection 104.131.57.65:8233 lastseen=190.1hrs

Give it some time the wallet will be able to connect to nodes, or if you can explicitly add nodes in magi.conf (folder: %appdata%\magi)

Code:

addnode=104.128.225.215
addnode=216.189.144.213
addnode=162.245.217.165
addnode=104.131.57.65
addnode=104.131.42.100

Problem was solved by turning off the firewall on the anti-virus system
thanks you

[111magic]

https://bitcointalk.org/index.php?topic=913172

Just for the info!

[NeedIfFindIt]

The Magi Miner Gui have some crappy sides:
- it uses full 100% of one CPU core (lol). I know it is not made to be running 24/7 but anyway it is wasteful.
- it is unable to hide the minerd window.

So I decided to make better launcher/controller adding a ton of nice features.

Sweet Spot Magi Miner is able:
- to hide the miner window so it will not waste your taskbar space.
- to hide itself into the system tray while running.
- to start the miner at LOW priority so the miner will not slow down your work.
- to check the current network hashrate and control the miner:
-- at network hashrate above 37MH/s it will IDLE the miner at 5-10% eating-up just the empty CPU cycles that are going to waste anyway.
-- at network hashrate between 37MH/s and 23MH/s it will gradually increase the CPU usage up to 50%.
-- at network hashrate below 23MH/s it will not limit the miner (but it will continue to work in LOW priority).

Download link:
http://xmg.makejar.com/download/sweet-spot-0.9.5.zip

Screenshot & More details:
http://xmg.makejar.com/

Tested on Win 7 & Win XP.

PM me if you get any issues.