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

[OBAViJEST]

Do I understand correctly that if sent to the XMG 120 000 KH / s I will kill XMG?

You can't just 'kill' it...

[kilka_v_tomate]

I'm new to this issue. Explain to me why such a speed can damage the situation? Because it just me? Or because this rate is generally detrimental to the currency?

Can I distribute this rate accounts for 10? In this case the same harm to the currency?

What CPU currency I produce without harming it?

This post from just a couple of days ago illustrates the position very nicely. XMG block rewards are highly dependent on the total hashrate, which is itself determined by the time taken to mine previous blocks (which adds a kind of random element to it). This is one of the unique features of XMG and is frequently overlooked by people new to the scene, so you are not alone my friend

https://bitcointalk.org/index.php?topic=735170.msg11542393#msg11542393

It should be apparent that adding 10 Mh/s to the total will kill the block rewards.

If you direct your hashpower at the XMG multipool https://multi.magipool.info/ using another algorithm of your choice, the proceeds are paid to the multipool in BTC and this is converted to XMG for you by purchasing XMG on the exchanges. This mechanism allows you to mine as hard as you want and supports the price of XMG on the market. Genius if you ask me

If you are able to split that hashpower and point it at multiple pools, obviously the effect would be much the same as if you pointed the whole lot at one place. However, if you wanted to point 250 Kh/s at Coinmagi pool http://pom.coinmagi.org/ and participate in the Proof of Mining campaign, then that would be very welcome and you will get a bonus for taking part. See https://bitcointalk.org/index.php?topic=1028548.0 for details.

Hope this helps.

You helped me, but still it's hard for me to understand. So, the lower the speed of the network, the better? What then is the development?

Do I understand correctly that if sent to the XMG 120 000 KH / s I will kill the XMG?

Perhaps my solo production possible? Or it does not change anything?

[111magic]

Just read post 1! Special number 6 and 7!
It will tell you more about the unique blockreward system! There is also a lot of info on the links under Proof of Staking. Take your time to read up!


If you like to mine a different coin and change that into XMG use Magi multipool!

[kilka_v_tomate]

Just read post 1! Special number 6 and 7!
It will tell you more about the unique blockreward system! There is also a lot of info on the links under Proof of Staking. Take your time to read up!


If you like to mine a different coin and change that into XMG use Magi multipool!

Thanks for the advice. But I understand very little English spoken. I'm not a native speaker. When reading I lose most of the essence. Therefore, I ask questions and very long they translate that to understand what is at stake.

[Spexx]

Thanks for the advice. But I understand very little English spoken. I'm not a native speaker. When reading I lose most of the essence. Therefore, I ask questions and very long they translate that to understand what is at stake.

That is ok and we are here to help.

You cannot kill the coin as a whole with a large hashrate, but it would "kill" the block rewards by reducing them to near zero for a lot of the time. Take your time to read up and if you have any questions, just ask here and we will do our best to answer you. Let us know your native language so maybe another person can help. You might like to try Google Translate - it is not very good but can help a lot.

[feldenthorne]

You helped me, but still it's hard for me to understand. So, the lower the speed of the network, the better? What then is the development?

Do I understand correctly that if sent to the XMG 120 000 KH / s I will kill the XMG?

Perhaps my solo production possible? Or it does not change anything?

There is a particular block difficulty (and thus hashrate) at which the reward for any given block will peak. When the difficulty/hashrate is above or below that value, the block reward decreases.

If you put 120 MH/s towards Magi, you would simply lower the block reward to dust and probably control the blockchain to a large degree.

Solo mining wouldn't change the affect of your high hashrate on the network. Adding a huge hashrate causes blocks to temporarily be found very quickly. The network responds to this by saying, "The time between blocks is now a lot lower, so it's time to increase the block difficulty so blocks will be found every 90 seconds." To do that, the network difficulty is raised. As the difficulty goes up, the block reward decreases very quickly after passing the peak reward difficulty (which is shown on Spexx's awesome graph and interactively on this website).

Edit: Russian translation of the first post

[kilka_v_tomate]

Thanks for the advice. But I understand very little English spoken. I'm not a native speaker. When reading I lose most of the essence. Therefore, I ask questions and very long they translate that to understand what is at stake.

That is ok and we are here to help.

You cannot kill the coin as a whole with a large hashrate, but it would "kill" the block rewards by reducing them to near zero for a lot of the time. Take your time to read up and if you have any questions, just ask here and we will do our best to answer you. Let us know your native language so maybe another person can help. You might like to try Google Translate - it is not very good but can help a lot.

I have read and reply to you via this service. Well, I have studied in detail the first post and ask a question. I'm from Russia.

[Grout]

Hi everyone,

I'm wondering if there is a way to know the optimal hashrate WITHOUT using SweetSpot.
The miner is running on my linux dedicated server.

Right now, I've limited it to 2 threads, which gives around 26kH (just because 22 is the default value for SweetSpot). But how can I know if it is enough? Or too much?

[Spexx]

Hi everyone,

I'm wondering if there is a way to know the optimal hashrate WITHOUT using SweetSpot.
The miner is running on my linux dedicated server.

Right now, I've limited it to 2 threads, which gives around 26kH (just because 22 is the default value for SweetSpot). But how can I know if it is enough? Or too much?

I do believe that you have misinterpreted the way Sweet Spot is designed to work.

The default limit (better referred to as a threshold) of 22 Mh/s (note Mega hashes not Kilo hashes) refers to the total network hashrate, not to your miner output.

The idea is to let your miners full at full power UNLESS the XMG block rewards are too small to be worth mining, so as the save wasted effort and electricity costs

AND

restrict your miners to low power while block rewards are low UNLESS the network hashrate is very low, which might indicate that a) the network needs more support or b) the block rewards are going to go up again very soon (which is the most likely scenario).

I advise you to read that several times to understand the logic of it. You should just run your miners at full power and let Sweet Spot take care of the rest of it for you.

Right now for example, the XMG block reward is about 4 XMG and the total indicated hashrate is about 35 Mh/s (while the true total hashrate is around 42 Mh/s). The way I have my Sweet Spot configured means that my processor is only running at 20% of maximum output while the block reward is this low. Once the block reward goes above 5 XMG then my output will increase a bit and if the block reward goes much higher than that, my output will be 100% full power.

Hope this helps.

[OBAViJEST]

Time to celebrate! 



Finally reached my first goal of attaining 1,000XMG (don't laugh, all you fat cats who see 1K as pocket change )


Now, how to achieve my next goal - turning that 1,000 into 10,000

[Lightsplasher]

Hi everyone,

I'm wondering if there is a way to know the optimal hashrate WITHOUT using SweetSpot.
The miner is running on my linux dedicated server.

Right now, I've limited it to 2 threads, which gives around 26kH (just because 22 is the default value for SweetSpot). But how can I know if it is enough? Or too much?

If you watch the pools and net hash rate for a bit you can kind of get a feel for when the block rewards are going to start getting larger.  I usually wait until I see some signs of life and then turn on my second computer when it looks promising.  If it is a hot day and the fan noise and heat are bothersome I'll look at the block rewards and shut down the second computer if the block rewards are low.

[th3.r00t]

I read and read few pages and get the same and same:
- 51% will kill the coin
- 51% will makes other blocks orphan;
- 51% will make the price to hit bottom;
- 51% will invite the Big Bad wolf (not to be mistaken with Wolf0 ) into our community;

Come on guys this could be true only if XMG were PoW only coin...

But magi is not, look at here:

chainz.cryptoid.info/xmg

More than 64% of the blocks are PoS.

How the 51% attack will be succesfull when 2 out of 3 blocks are generated from bagholders like me and not from Buldozers?

Bottom line:

[Spexx]

Time to celebrate! 
Finally reached my first goal of attaining 1,000XMG (don't laugh, all you fat cats who see 1K as pocket change )
Now, how to achieve my next goal - turning that 1,000 into 10,000

Congratulations!

Time to do a bit of trading I reckon

[Spexx]

- 51% will kill the coin
- 51% will makes other blocks orphan;
- 51% will make the price to hit bottom;
- 51% will invite the Big Bad wolf (not to be mistaken with Wolf0 ) into our community;

There is one school of thought that rejects this notion of a 51% attack completely and it remains untested, unproven (afaik) and continuously debated. Until someone demonstrates it to me (on a testnet or something) I remain unconvinced about any direct link between hashpower and blockchain control.

Edit: However, seeing as everybody else is paranoid about it, I have to go along with the idea ...

[111magic]

Thanks for the advice. But I understand very little English spoken. I'm not a native speaker. When reading I lose most of the essence. Therefore, I ask questions and very long they translate that to understand what is at stake.

That is ok and we are here to help.

You cannot kill the coin as a whole with a large hashrate, but it would "kill" the block rewards by reducing them to near zero for a lot of the time. Take your time to read up and if you have any questions, just ask here and we will do our best to answer you. Let us know your native language so maybe another person can help. You might like to try Google Translate - it is not very good but can help a lot.

I have read and reply to you via this service. Well, I have studied in detail the first post and ask a question. I'm from Russia.

No problem amigo. Welcome in our Magical Magi community. Always welcome to ask questions here.
This might also help:
http://thdim.istothesis.com/mining-your-first-coin/

It's in English but the writer made it very simple and very easy to read!

[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.



 

To ask the community for their favorite game TheFruitsClan will make a form where you can tell us what's you're favorite game!

[goldlabel]

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.



 

To ask the community for their favorite game TheFruitsClan will make a form where you can tell us what's you're favorite game!

Hi you all,
i want to ask you to fill out the from, we want to make some gameservers for you and we want to know what game would you like to have.
http://www.thefruitsclan.nl/index.php/nl/?option=com_content&view=article&layout=edit&id=108

thx

[OBAViJEST]

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.



 

To ask the community for their favorite game TheFruitsClan will make a form where you can tell us what's you're favorite game!

Hi you all,
i want to ask you to fill out the from, we want to make some gameservers for you and we want to know what game would you like to have.
http://www.thefruitsclan.nl/index.php/nl/?option=com_content&view=article&layout=edit&id=108

thx

Voted!  Well, voted for CS:S and CS:GO if that is allowed...but did my vote go through?  There was no confirmation.  Put up a results chart!

BTW, I'll message you or hop on TeamSpeak in the next hour or so, if that's okay.  Doing some work from home because of my injury

[OBAViJEST]

Time to celebrate! 
Finally reached my first goal of attaining 1,000XMG (don't laugh, all you fat cats who see 1K as pocket change )
Now, how to achieve my next goal - turning that 1,000 into 10,000

Congratulations!

Time to do a bit of trading I reckon

If only I were properly educated in that art...I've messed around on Poloniex (and a few others sporadically) and was actually pretty lucky to break even in the end. 

....but are you suggesting I part ways with the coin I've put so much blood, sweat, and tears (mostly tears) into?



 I am appalled, sir.  Blasphemous, I dare say...

...unless, of course, you mean trading by other means...my current XMG balance got to where it is because of my getting rid of, and trading other coins (in part....I did flat out buy some )

[111magic]

Nice OBAViJEST and all others.
It's awesome to see so much activity here.
Remember to post also on Bitcoingarden,
Bitcointalk was offline some time ago and I think if that will happen again we (magi community) need to find important links in a easy way. (Sort of backup)