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

[LordCoder]

One thing is for sure, working on your computer and mining with cpu costs you nothing compared to mining with a gpu.

Because of course loading CPUs don't increase power consumption.

Just to chime in, but this is not true. All CPU have dynamic power modes and halt states which limit the power draw when not under load. If you measure the power draw at 0 / 50 / 100% CPU load you will see a difference at the wall

It was irony. See the quote above:

Mining with cpu costs you nothing compared to mining with a gpu.

[K1lo]

It was irony. See the quote above:

Ah.. I hadn't had my morning cup of tea yet

[th3.r00t]

Reading the recent post I start to get the feeling that MaxDZ8 and LordCoder are trying to convince the community that CPU mining
is bad and obsolete and we all should switch to GPU mining (hidden agenda here?!?!?   ).

They are trying to draw a picture with public GPU miner mining XMG, and how we with our puny CPU's will be swept away from the GPU's big hashrate.

That will be so true if we are talking about any other PoW coin, but we are talking about Magi here.
There is one simple rule with Magi XMG - mine SMART, not hard.

Lets assume that there is a GPU miner released to the public (definetely not free) and what the effects will be on Network and Block reward:

1. Everyone not familiar with XMG's Unique network-dependent rewarding system will jump in with their GPU's driving the network hashrate to say about 500 Mh/s;
2. With network like that (500 Mh/s) the block reward will be quickly reduced to values of 0.055 XMG (see Magi Block Reward Plotter);
3. The CPU miners will go off or in limited state - power efficient mining with the Sweet Spot Magi Miner and my script for Linux OS's;
4. We will have our network secured for almost free - GPU miners will mine PoW block with reward less than PoS blocks, and they will pay the power bill  ;
5. Everyone that have been here and understand MagiCoin will just switch off their PoW miners and rely on PoS (~66% of the blocks);

After a while we will have GPU miners away from network, just because 0.055 XMG per block will never be proffitable for them.
They will have losed all BTC paid for GPU miner and power costs and have almost nothing in return from GPU-mining XMG's.

All that have switch from PoW to PoS in these hypothetical GPU mining days, will have more coins made for day, just by staking than all GPU farms hardmining.

I'm confident in Magi's future whether you or someone else releases GPU miner for M7M, just because it is useless for this great coin!

So all your GPU/CPU wars comparing hashrate, power, efficiency and so on, have no point here because everything more than 250 kh/s per miner is waste of resources whether CPU or GPU.

[Spexx]

^^ Well said mate.

The unique XMG block reward system takes some getting used to, but I see it as a model that could be adopted by many cryptocurrencies in future. In this recent hot weather here in London, I have actually been rather relieved when the SweetSpot limiting kicks in because it means less heat generated in my "office". It was 33 degrees C in here a moment ago with everything running at max power, but the block rewards fell to 2 XMG (oh I wonder why that was) and things are cooling down.

Expect the block rewards to increase again in about 10 hours time, if the previous pattern is repeated.

[ElMacho20000]

The unique XMG block reward system takes some getting used to, but I see it as a model that could be adopted by many cryptocurrencies in future. In this recent hot weather here in London, I have actually been rather relieved when the SweetSpot limiting kicks in because it means less heat generated in my "office". It was 33 degrees C in here a moment ago with everything running at max power, but the block rewards fell to 2 XMG (oh I wonder why that was) and things are cooling down.

Expect the block rewards to increase again in about 10 hours time, if the previous pattern is repeated.

Sorry for being a ghost these days, I have lot of stuff going on and my eyes are giving me more concerns than usual.
Btw,
I don't think the concept of XMG block reward system is hard to get, I really believe that some people just DON'T want to understand.
If you drop to much hash power, you'll get nothing, end of story, BUT there's a lovely multipool that can be used if someone really need to switch on these flaming bulldozers from hell.

Drop in all the gpu miners you want.
Enjoy your electricity bills

[z0n0]

The unique XMG block reward system takes some getting used to, but I see it as a model that could be adopted by many cryptocurrencies in future. In this recent hot weather here in London, I have actually been rather relieved when the SweetSpot limiting kicks in because it means less heat generated in my "office". It was 33 degrees C in here a moment ago with everything running at max power, but the block rewards fell to 2 XMG (oh I wonder why that was) and things are cooling down.

Expect the block rewards to increase again in about 10 hours time, if the previous pattern is repeated.

Sorry for being a ghost these days, I have lot of stuff going on and my eyes are giving me more concerns than usual.
Btw,
I don't think the concept of XMG block reward system is hard to get, I really believe that some people just DON'T want to understand.
If you drop to much hash power, you'll get nothing, end of story, BUT there's a lovely multipool that can be used if someone really need to switch on these flaming bulldozers from hell.

Drop in all the gpu miners you want.
Enjoy your electricity bills

I agree - XMG block reward system is easy to understand: like the.r00t said - mine smart, not hard
there are also many posts with graph that spexx uploaded which explain how it works, so I'm 100% sure that these hard miners are just dumb assholes / greedy(bad) ppl who wants to do bad things.

it's gotta be this, c'mon ppl, xmg block reward system is not astrophysics.

[LordCoder]

Reading the recent post I start to get the feeling that MaxDZ8 and LordCoder are trying to convince the community that CPU mining
is bad and obsolete and we all should switch to GPU mining (hidden agenda here?!?!?   ).

They are trying to draw a picture with public GPU miner mining XMG, and how we with our puny CPU's will be swept away from the GPU's big hashrate.

That will be so true if we are talking about any other PoW coin, but we are talking about Magi here.
There is one simple rule with Magi XMG - mine SMART, not hard.

Lets assume that there is a GPU miner released to the public (definetely not free) and what the effects will be on Network and Block reward:

1. Everyone not familiar with XMG's Unique network-dependent rewarding system will jump in with their GPU's driving the network hashrate to say about 500 Mh/s;
2. With network like that (500 Mh/s) the block reward will be quickly reduced to values of 0.055 XMG (see Magi Block Reward Plotter);
3. The CPU miners will go off or in limited state - power efficient mining with the Sweet Spot Magi Miner and my script for Linux OS's;
4. We will have our network secured for almost free - GPU miners will mine PoW block with reward less than PoS blocks, and they will pay the power bill  ;
5. Everyone that have been here and understand MagiCoin will just switch off their PoW miners and rely on PoS (~66% of the blocks);

After a while we will have GPU miners away from network, just because 0.055 XMG per block will never be proffitable for them.
They will have losed all BTC paid for GPU miner and power costs and have almost nothing in return from GPU-mining XMG's.

All that have switch from PoW to PoS in these hypothetical GPU mining days, will have more coins made for day, just by staking than all GPU farms hardmining.

I'm confident in Magi's future whether you or someone else releases GPU miner for M7M, just because it is useless for this great coin!

So all your GPU/CPU wars comparing hashrate, power, efficiency and so on, have no point here because everything more than 250 kh/s per miner is waste of resources whether CPU or GPU.

Who talked about being profitable? Do you think having a GPU online for 24 hours is a problem? I could have one online, and still don't profit but do I care? No, because some people didn't invest in this coin.

It's not about profit, it's about bulldozers. They can easily control this coin difficulty with just 1 GPU. They don't care if the don't profit, just leaving all of us without XMG.

And finally, what's the point of a CPU coin without PoW? And M7M? Think about that for a moment and then reply with other statements instead of linking me the same graphic everytime.

But I won't talk about that anymore. I will just mine with CPU and wait for what I'm saying.

[111magic]

Magi XMG Proof of Interest II 2015 Launch 01-08-2015

Coin of the Magi the next generation digital currency!

twitter @103tango

Banks do give interest but not very much! Magi does this better!
The Coin of the Magi is the digital currency of the future, fair unique and for all people living everywhere!

Rules for the Magi Proof of Interest II 2015!

The base is very simple.
Time period: The Proof of Interest will last two months.

When can I register to participate? Registration will be open: 01-07-2015

How do I sign up? Tell me that you want to join the PoI here: http://bitcoingarden.tk/forum/index.php?topic=3990.msg93574#msg93574  Registration is done by posting your XMG address replying here on Bitcoingarden or PM me here or in bitcoingarden.tk, cryptotalk.us, cryptos.us, cryptocointalk.com & altcoinsfoundation.com

What information should I include? Write your participating wallet XMG address in a reply here: http://bitcoingarden.tk/forum/index.php?topic=3990.msg93574#msg93574 (only one address allowed to join, all addresses will be made public at the end of registration in interest of fairness of the campaign.)
(only one address a person allowed to join)

The team will check the address's initial balance, and that balance will start participating in the PoI. (After confirmation participant)

When will I receive my interest? Interest will be paid on 01-10-2015

What happens if I have more XMG in my wallet on 01-10-2015? You will receive interest on the amount present in your wallet on that date. (Advantage participant)

What happens if I have less XMG in my wallet on 01-10-2015?
You will not receive any interest from campaign, if your initial balance has decreased more than 15% at the campaigns end! (Drawback participant)

What happens if I XMG have used to pay for goods? This has no negative effect on your interest. (Receipt required)

How will be interest distributed? The interest will be distributed by means of a specific calculation. This can be influenced by the number of participants, level of the fund and total number of coins that participate.Team will check addresses random and record the coins in that address. Based on that the interest calculation will be done!

Who will pay the interest for this Proof of Interest campaign? I received the donation of 25,000 XMG.
(For the second time! Love this guy)
On his request, the donor will remain anonymous! Payouts will be done by me.

Interest will be paid to the designated address wallet.
Changes of participating address during the Proof of Interest is possible only once per user in the two months period (changing is not advisable, though).
Exchanges or wallet address on an exchange are excluded from participation.

NOTE: The team reserves it's right to send a warning to a drawback member, that his balance is decrease more than 15% on their regular random balance checks.


If you have questions don't hesitate just ask me.

More info about the unique M7M PoS II PoW PoM Coin of the Magi check: https://bitcointalk.org/index.php?topic=735170.0

Register is open!

[The Frisian]

I will just mine with CPU and wait for what I'm saying.

Like we all do, good luck!

[th3.r00t]

It seems like you don't like the 5 points I've posted before, explaining what can a GPU miner can do here...
Maybe they bother your hidden agenda...

Anyway to the point.

It's not about profit, it's about bulldozers. They can easily control this coin difficulty with just 1 GPU. They don't care if the don't profit, just leaving all of us without XMG.

Please do enlighten me, how can the bulldozers can control MagiCoin when PoW is 33%?
All they can do is drive the diff up and reduce block reward do dust.

Here is an example:


So what? For how long they can keep that up - mining for dust, just to prove some point?

And finally, what's the point of a CPU coin without PoW? And M7M?

For that part I will repost something that is on the OP of this thread:

That sums it up.

Think about that for a moment and then reply with other statements instead of linking me the same graphic everytime.

When I linked you to a same graphic, maybe you are confused?

But I won't talk about that anymore. I will just mine with CPU and wait for what I'm saying.

I've said it before - so what will happen?
Blocks with 0.055XMG value? Me and the other members, emotionally involved in Magi will just stop mining for a while with CPU
and wait for GPU farms that don't care for profit (that sounds so ridiculous) to go bust, because that will happen if you run GPU farm not caring for profit.

Magi community is always trying to respect everyone's opinion and be friendly,
but you my friend are just trying to cause FUD inhere.

Please do try to read and understand the Magi and it's unique features.

[LordCoder]

-snip-

Man, FUD? Is that your argument? I don't even want to cause that, I'm even supporting this coin mining with CPUs. I have started giving some recommendations and the problems it might have, now you all staff have turned this into a war. But hey do what you want I said I won't talk anymore about that.

[NeedIfFindIt]

No worry. The world is full of PPL trying to prove something.

Just yesterday someone has turned 5 BTC (1200+$) into dust clogging the BTC network for good 3-4 hours.

Everything starts here ... and continues in 15k txs.
https://blockchain.info/address/1AnM5CxNa4TCsPGuok67F4DHQqGs26MTHn

And all of this to get at top of the list (for 1 day)
https://bitinfocharts.com/top-100-busiest_by_transactions-bitcoin-addresses.html

Was he able to crash the BTC blockchain?
- No ... but the bitcoin blockchain got at least 28MB of (stupidity) history.

---

I'm sure sooner or later bulldozers will get bored since flooding the POW does not result in higher XMG price as expected ... so it is double loose for them (low reward + low price). In all other coins it would be exactly the opposite.

[Lightsplasher]

-snip-

Man, FUD? Is that your argument? I don't even want to cause that, I'm even supporting this coin mining with CPUs. I have started giving some recommendations and the problems it might have, now you all staff have turned this into a war. But hey do what you want I said I won't talk anymore about that.

Gosh, I'm breaking out the popcorn here, when are you guys going to start slinging the mud-balls, spitting lightning bolts and generating angry fireballs?  (Its getting almost as entertaining as the Nocoin, err Neucoin forum.)  Just kidding, please don't do that, wars are bad and really not entertaining.

I'd like to add that we do have a nice safe public ledger built that can provide low cost transactions and reward people with very little barrier to entry.  It does not encourage the massive over mining that other cryptocoins do and should save considerable energy by comparison; I'm personally not that concerned with the PoW hash rate or potential GPU issues, but it does give some entertaining things to talk about.  Pricing and number of exchanges are looking very nice for as young as the coin is; it feels like we should be giving each other a pat on the back and saying “job well done”.  

[111magic]

-snip-

Man, FUD? Is that your argument? I don't even want to cause that, I'm even supporting this coin mining with CPUs. I have started giving some recommendations and the problems it might have, now you all staff have turned this into a war. But hey do what you want I said I won't talk anymore about that.

Gosh, I'm breaking out the popcorn here, when are you guys going to start slinging the mud-balls, spitting lightning bolts and generating angry fireballs?  (Its getting almost as entertaining as the Nocoin, err Neucoin forum.)  Just kidding, please don't do that, wars are bad and really not entertaining.

I'd like to add that we do have a nice safe public ledger built that can provide low cost transactions and reward people with very little barrier to entry.  It does not encourage the massive over mining that other cryptocoins do and should save considerable energy by comparison; I'm personally not that concerned with the PoW hash rate or potential GPU issues, but it does give some entertaining things to talk about.  Pricing and number of exchanges are looking very nice for as young as the coin is; it feels like we should be giving each other a pat on the back and saying “job well done”.  

Thanks for the nice words!

[minerclaim.net]

Hello,

we think XMG has a lot of potential.

To support the Magi Community, today we are happy to announce, that our XMG Pool has going live. Our servers are located in EU.

We are welcome everyone here :-)

Visit us at: http://minerclaim.net
If you have questions, feel free to contact us!

[111magic]

Hello,

we think XMG has a lot of potential.

To support the Magi Community, today we are happy to announce, that our XMG Pool has going live. Our servers are located in EU.

We are welcome everyone here :-)

Visit us at: http://minerclaim.net
If you have questions, feel free to contact us!

Thanks those are nice words.
I will contact you pm.

[ex33s]

Hello,

we think XMG has a lot of potential.

To support the Magi Community, today we are happy to announce, that our XMG Pool has going live. Our servers are located in EU.

We are welcome everyone here :-)

Visit us at: http://minerclaim.net
If you have questions, feel free to contact us!

Pool has been added to http://poolinfo.coinmagi.org/

[111magic]

Thanks Ex33s! Great thing you keep the poolinfo.coinmagi.org up to date.

[K1lo]

I've noticed a pattern.. at about 10am each day (UK) time the bulldowzers join the party 

[th3.r00t]

I've noticed a pattern.. at about 10am each day (UK) time the bulldowzers join the party 

Maybe because then the infected botnet open it's offices...