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

[111magic]

You don't need to clone the algo - as a matter of fact, take the opportunity to tune the parameters of the KDF to your liking.

I disagree. It will cause only confusion. People still confuses groestl^2 with groestl-myr. If it is called the same, it must be the same.

But I'll agree the KDF of yescrypt has... some very interesting properties.

Hmm nice to see the ideas. Think Magi has to look into those options. So there is option 1) M7M with PoS-III and more adjustments option 2) KDF option 3) yescrypt. Or are there more good options?

[1714094127]

1714094127

[1714094127]

1714094127

[1714094127]

1714094127

[kondiomir]

Hey Joe.

IMHO. We need to implement masternodes to fight with the inflation. PoS % needs review too. I2P maybe ?
PoI is not necessary anymore.
Cannot understand why changing the algo? ( I'm not against this ) but what is the advantage?
This are known features.

Thought about master nodes, but didn't yet look into it. What is I2P in details? Algo thing mentioned in another post.

Any reasoning why masternodes are terrible?

From my perspective if masternodes were added to Magi it would simply be a way for the rich to get richer.  I think the same could be said for increasing the POS %.

I am interested in developments that make the playing field even for people that want to get involved, which is a good way to attract new interest.  Masternodes are pretty much the opposite in my view.

Thanks for the input about master nodes. Exactly one of the disadvantges of PoS, rich getting richer; PoS-II is supposed to do something along that; it would be needed to take cautions to increase interest in a straight way. I believe people should be aware of that when generic gains shares easily, there exist people who can get more share much quicker than rest of us, like the PoW mining things.

https://geti2p.net/en/

[digibob00]

You don't need to clone the algo - as a matter of fact, take the opportunity to tune the parameters of the KDF to your liking.

I disagree. It will cause only confusion. People still confuses groestl^2 with groestl-myr. If it is called the same, it must be the same.

But I'll agree the KDF of yescrypt has... some very interesting properties.

Hmm nice to see the ideas. Think Magi has to look into those options. So there is option 1) M7M with PoS-III and more adjustments option 2) KDF option 3) yescrypt. Or are there more good options?

Hi all,

my opinion is:
good for option 1,
ok for option 2
very bad for option 3 (i'm playing with yescypt from a long time...)

I see a lot of additional idea, like anonymity (i2p,etc), different db for wallet speed up, masternode,instant transaction,etc. but change the algorithm into yescript maybe not the best deal.

Yescrypt made for a different usage, with different machine, different power and not for CPU coin.

But this is only my opinion.

Regards

[Lightsplasher]

You don't need to clone the algo - as a matter of fact, take the opportunity to tune the parameters of the KDF to your liking.

I disagree. It will cause only confusion. People still confuses groestl^2 with groestl-myr. If it is called the same, it must be the same.

But I'll agree the KDF of yescrypt has... some very interesting properties.

Hmm nice to see the ideas. Think Magi has to look into those options. So there is option 1) M7M with PoS-III and more adjustments option 2) KDF option 3) yescrypt. Or are there more good options?

How about option 4) Go PoS only.  Add a block reward cap and other inflation control measures patterned after a coin like Hyperstake.  Or option 5) PoS only with something new like have a percent of the PoS block reward be sent to a common fund to be used to promote the coin.  Only a board of directors voted in by the community based on their holdings could have access to the common fund.  We could use the common funds to make tee shirts, drink holders, pay for development work, entice new community members, bribe/lobby congressmen, ...

[joelao95]

Joe - the PoW you want to use is probably the KDF Yescrypt. I'd wanna talk on IRC before recommending parameters to it, though.

Thanks for suggestion, Wolf. I'd look into Yescrypt. I read the IRC message, and will send message too; kinda busy during weekday, will find time for talk at some point.

My concerns as to the current situation which seems in existence all along are some hidden facts. Like you mentioned before, gnu miner for magi algo is possible; if you say so, I guess so. Had review of past pages and also told by some people; the fact is that most are wondering the mystery big miners in and out. This IS a concern, and to make magi step forward better to be taken care. What I wish and probably most of people wish is that magi stays at a level that everyone can mine, that equally means CPU mining, and mining should be fair that also tells any other means of mining with advantages over CPU mining should be avoided. To correct (to who like other means of mining), this is not because I hate GPU miners or things like that, but just because magi is to be what it should be and that leads to a fact that those mining wouldn't do any good to the coin.

In brief, solidified CPU mining, no others. From this point of view, Yescrypt seems an option. I am kinda avoiding simply algo clone though; so the thing gets me complex; either way, what happens now are simply open discussion.

You don't need to clone the algo - as a matter of fact, take the opportunity to tune the parameters of the KDF to your liking. While GPU miners for it are obviously possible (as for M7M), the gap in between CPU and GPU is at least currently barely existing - factoring in power makes it look even better to mine on CPU. This is about as close as you'll ever get to your stated goal - i.e. GPU mining impossible.

Thanks again for inputs. I'd check out details and think of things to tackle.  

https://geti2p.net/en/

Thanks for the link.

[joelao95]

I think that if the stake rate is increased in a way that is consistent with the goals of Magi it could actually help reduce the current inflation from over PoW mining.  This could be done by improving PoS-II into PoS-III, which should reward smaller holders the most.  The stake rate should go up the most on small blocks.  I think 10% for any block under 100 XMG wouldn't be too generous, while 100-500 XMG could stake at 7.5%, 500-2500 at 5%, and any block over 2500 at 2.5%.  I get a lot of stakes from small blocks, and the reward is often 0.02 XMG for anything small, and around 0.15 XMG for a 2000 XMG block.  This is much less than any PoW block, and could be safely increased without causing inflation.  Being able to set the split threshold would also make staking much easier.

If we want Magi to stay a CPU only coin, changes to the algorithm should be made, if only as a preventative measure.  Even if the miner that turns on 48 MH/s isn't using GPUs, that doesn't mean that one couldn't be developed in the future.  If it can be done, it will if the profit motivation is there.  I would prefer that changes were made to the existing algorithm to make it more GPU resistant, instead of basing it off of something completely different.  Maybe M7M2?  This should only be done after there is an optimized CPU miner that is ready to go so people only have to download an update to the Sweetspot miner, which would be easy for the common user.

The PoS-II approach was designed with similar feature, though not direct inverse rewarding route. I am sure I'll take a closer look systematically. A simple procedure for a big holder to take the advantages is to split his coins into small pieces, and as to each piece he'll gain equal shares as small holders. An optional approach is given "rules" and "efforts" are made barriers to the big holders and mitigate advantages gained by them in a way unusually. This is not straightforward, though PoS-II is supposed. You're right, everything needs to be ready before going, mostly launching testnet for the test.

[joelao95]

You don't need to clone the algo - as a matter of fact, take the opportunity to tune the parameters of the KDF to your liking. While GPU miners for it are obviously possible (as for M7M), the gap in between CPU and GPU is at least currently barely existing - factoring in power makes it look even better to mine on CPU. This is about as close as you'll ever get to your stated goal - i.e. GPU mining impossible.

this makes sense for me, but what about all those buldozers that will mine it only to fu*k the block rewards, this will really solve it? i mean even if is more profitable with CPU after the algo change, they will loose hash power?

The big miner things as to PoW is about GPU or CPU farm. I guess we're try to kill those mining with cheap by algo change, and people then mine at the same level (mostly). The Magi's block design is supposed to take care of the CPU farm thing (to a certain degree, don't want to say 100% without apparent proof ).

[joelao95]

You don't need to clone the algo - as a matter of fact, take the opportunity to tune the parameters of the KDF to your liking.

I disagree. It will cause only confusion. People still confuses groestl^2 with groestl-myr. If it is called the same, it must be the same.

But I'll agree the KDF of yescrypt has... some very interesting properties.

Hmm nice to see the ideas. Think Magi has to look into those options. So there is option 1) M7M with PoS-III and more adjustments option 2) KDF option 3) yescrypt. Or are there more good options?

Hi all,

my opinion is:
good for option 1,
ok for option 2
very bad for option 3 (i'm playing with yescypt from a long time...)

I see a lot of additional idea, like anonymity (i2p,etc), different db for wallet speed up, masternode,instant transaction,etc. but change the algorithm into yescript maybe not the best deal.

Yescrypt made for a different usage, with different machine, different power and not for CPU coin.

But this is only my opinion.

Regards

Thanks mate, I have no opinions yet but have to look over.

[joelao95]

You don't need to clone the algo - as a matter of fact, take the opportunity to tune the parameters of the KDF to your liking.

I disagree. It will cause only confusion. People still confuses groestl^2 with groestl-myr. If it is called the same, it must be the same.

But I'll agree the KDF of yescrypt has... some very interesting properties.

Hmm nice to see the ideas. Think Magi has to look into those options. So there is option 1) M7M with PoS-III and more adjustments option 2) KDF option 3) yescrypt. Or are there more good options?

How about option 4) Go PoS only.  Add a block reward cap and other inflation control measures patterned after a coin like Hyperstake.  Or option 5) PoS only with something new like have a percent of the PoS block reward be sent to a common fund to be used to promote the coin.  Only a board of directors voted in by the community based on their holdings could have access to the common fund.  We could use the common funds to make tee shirts, drink holders, pay for development work, entice new community members, bribe/lobby congressmen, ...

I am kinda like to be traditional, in way of btc or the like, and PoW is a need for that, but feel free to discuss on pure PoS.

[Redrover]

You don't need to clone the algo - as a matter of fact, take the opportunity to tune the parameters of the KDF to your liking.

I disagree. It will cause only confusion. People still confuses groestl^2 with groestl-myr. If it is called the same, it must be the same.

But I'll agree the KDF of yescrypt has... some very interesting properties.

Hmm nice to see the ideas. Think Magi has to look into those options. So there is option 1) M7M with PoS-III and more adjustments option 2) KDF option 3) yescrypt. Or are there more good options?

How about option 4) Go PoS only.  Add a block reward cap and other inflation control measures patterned after a coin like Hyperstake.  Or option 5) PoS only with something new like have a percent of the PoS block reward be sent to a common fund to be used to promote the coin.  Only a board of directors voted in by the community based on their holdings could have access to the common fund.  We could use the common funds to make tee shirts, drink holders, pay for development work, entice new community members, bribe/lobby congressmen, ...

+1 for the PoS only option.  We can generate coins and secure the blockchain while using less electricity and would not have to figure out a way to stop whales and GPU miners.  The reward would obviously have to be increased substantially but can be tiered so that it reduces over time as necessary to prevent inflation.

[okae]

wow i can see here lot of good options in the last day, thats cool

for me there is only one big problem that i already talk about, the buldozers, i hope you guys find a way to at least, minimize that.

on the other hands, i would like to see a % increased on the pos rewards, for me to have more than 1k of magi and get a reward of 0.01xmg from stake is so low, but i will understand if you dont want to change it, i mean increased it.

[Jookly]

I can get excited about being POS only so that miners can't take advantage of the network. 

I am not supportive of increasing the POS % however, the goal should be for securing the network and processing transactions rather than lining bagholders pockets.

[helmy77]

price is going down every days.... make me want to sell all my magi coin

[111magic]

price is going down every days.... make me want to sell all my magi coin

Price has been lower some time ago.
I have 100% trust in Magi and his Dev, Community and team.

I can get excited about being POS only so that miners can't take advantage of the network.  

I am not supportive of increasing the POS % however, the goal should be for securing the network and processing transactions rather than lining bagholders pockets.

Joe think Magi received some nice responses.
Might be good to discuss the different options and go for the best one!
Maybe new meeting would be an idea.

[Masked_Immortal]

guys
cloud2b.de is down for me, what happened.

[kondiomir]

guys
cloud2b.de is down for me, what happened.

It is working fine to me. Check your DNS. Try to use 8.8.8.8.

[markzedi]

price is going down every days.... make me want to sell all my magi coin

http://s21.postimg.org/3m9f6ucvr/xmg3.jpg

[NeedIfFindIt]

guys
cloud2b.de is down for me, what happened.

This is what I got 9 days ago:

Dear ***,

Hi, miningpool.cc will stop all services within the next few days. Please payout all left coins from your account to your offline wallet. Stratum services will stop in the next few hours. Thank you for being part of miningpool.cc

I suppose cloud2b.de=miningpool.cc

[joelao95]

wow i can see here lot of good options in the last day, thats cool

for me there is only one big problem that i already talk about, the buldozers, i hope you guys find a way to at least, minimize that.

on the other hands, i would like to see a % increased on the pos rewards, for me to have more than 1k of magi and get a reward of 0.01xmg from stake is so low, but i will understand if you dont want to change it, i mean increased it.

I guess it's dependent; by the current market, 0.01xmg by 1k magi staking values trivial, but would be not that low when magi is valued as much as btc, though the latter situation is very much no more than an imagination for now; imo it'll depend on how we keep the way going then and the overall view.

[joelao95]

You don't need to clone the algo - as a matter of fact, take the opportunity to tune the parameters of the KDF to your liking. While GPU miners for it are obviously possible (as for M7M), the gap in between CPU and GPU is at least currently barely existing - factoring in power makes it look even better to mine on CPU. This is about as close as you'll ever get to your stated goal - i.e. GPU mining impossible.

this makes sense for me, but what about all those buldozers that will mine it only to fu*k the block rewards, this will really solve it? i mean even if is more profitable with CPU after the algo change, they will loose hash power?

The big miner things as to PoW is about GPU or CPU farm. I guess we're try to kill those mining with cheap by algo change, and people then mine at the same level (mostly). The Magi's block design is supposed to take care of the CPU farm thing (to a certain degree, don't want to say 100% without apparent proof ).

We can tune Yescrypt's params such that it'll trip more resource alarms on a farm - using up FAR more RAM.

Thanks, I'll have a look at it and discuss with you.