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

[thefix]

The problem at the moment is the current high hashrate, gives no profit. Maybe increasing the max. hashrate limit would increase the profit, but I guess price will also decrease.

The main problem is we have a group of people that do not understand how Magi works, so they waste power and resources.

Thats right amigo! Maybe we should make a short a good post again about how Magi works!

Not a bad idea, basically if everyone dropped the hash to about 100 KH/s (per person) everyone would get more with less resources.

Its all about less being more!

[1714734458]

1714734458

[111magic]

The problem at the moment is the current high hashrate, gives no profit. Maybe increasing the max. hashrate limit would increase the profit, but I guess price will also decrease.

The main problem is we have a group of people that do not understand how Magi works, so they waste power and resources.

Thats right amigo! Maybe we should make a short a good post again about how Magi works!

Not a bad idea, basically if everyone dropped the hash to about 100 KH/s (per person) everyone would get more with less resources.

Its all about less being more!

Thats right!
Btw good line: Less being more!
This gives me a idea for new promotions.

[Lightsplasher]

2nd - is there a way in wallet, to check how much I gained with staking (some kind of Sum)?

Guess several prior posts discussed, unfortunately currently no.

It is hard to find a sum of staking with the present version of the qt wallet.  I added “Total Balance” on the overview page to make it a bit easier but that is not in the main code yet.  Hyperstake does it very well with a “total” showing in the transaction register for any dates and transaction types that are selected.  (You can easily find total stake for any date range with this) I asked presstab if he would mind if I added it to the coins I liked and he was fine with that.  I'll try to add it to my branch on github and perhaps joelao95 will release it into the next update if it works.

I second the congratz on android wallet!  Nice!

Thanks for the revision, I got the request and will check it out and then merge.

@joelau  Congrats on getting to hero membership and nice job on the recent update by the way, I like the new graphics in the qt wallet!  Thanks for all your work.  I'll try to add some more changes to my branch and you can integrate them if they seem like improvements.  It looks like people would enjoy having the staking sum in the wallet so I see about going ahead with adding that.

[OrientA]

The problem at the moment is the current high hashrate, gives no profit. Maybe increasing the max. hashrate limit would increase the profit, but I guess price will also decrease.

The main problem is we have a group of people that do not understand how Magi works, so they waste power and resources.

Thats right amigo! Maybe we should make a short a good post again about how Magi works!

Not a bad idea, basically if everyone dropped the hash to about 100 KH/s (per person) everyone would get more with less resources.

Its all about less being more!

The problem is that if you drop the hash rate and some body does not, then he will get more coins.

[okae]

The problem is that if you drop the hash rate and some body does not, then he will get more coins.

well yes, that's truth, but that's why MAgi is so awesome and so funny, yes? you must "play" with all those things, to made a good profit and avoid all those periods of time where you need lower your cpu power.

if im not wrong there is some software out there where you can do it automatically, maybe this will help you a lot with all those things

[joelao95]

Thanks a lot for all, glad to get a higher level; felt like grown up and got old. 

[starmman]

The problem at the moment is the current high hashrate, gives no profit. Maybe increasing the max. hashrate limit would increase the profit, but I guess price will also decrease.

The main problem is we have a group of people that do not understand how Magi works, so they waste power and resources.

Hopefully they will get bored eventually. I guess all the marketing that has gone on recently has brought a lot of new people in. If magi popularity reaches a critical mass then the problem may persist indefinitely unless everybody reduces their hash rate. I suspect a large proportion of people wont even read about the coin and just start mining at full capacity.

[drakoin]

First thank you Drakoin for your post.

De nada :-)

At the moment Magi does not have that function to limit the cpu usage. I'am sure the info can help Magi and our developer Joe will look into that.
He is working on improvements and I think your info come at the right moment!

Good.

And you are right:

...

...
I have a VPS that I mine XMG on, should I put it out to full power or keep it at 50%?
...

... It's sure no full power running miners on VPS, or vendors (mostly) put a limitation in your service;...

Not sure yet how all this works.

But when I found this question, I was reminded how I limited the CPU usage back in the days, using
apt-get install cpulimit ...
https://github.com/drakoin/LinuxWallet/blob/master/mueminerstart.sh#L14-L19
https://bitcointalk.org/index.php?topic=460178.msg10522742#msg10522742
Perhaps that can help you somehow?

Or does XMG itself contain a function to limit the CPU usage?

Thanks for the info.

Happy to help.

How to adjust the hashrate is very much where we can make improvement in the miner, for optimum hashrate and hence ROI. For now, there is a repo which has the "-e cpu_efficiency" option, for example, -e 60 (%60 CPU):
https://github.com/magi-project/m-cpuminer-v2
I just did precompiled binaries for different os along with a gui frontend, and will post them soon.

That "-e cpu_efficiency" is an interesting approach. Congrats for that.

For all other projects, and other situations, I can really recommend the 'cpulimit' package. Very easy to use, it searches itself for processes with a search name, and just throttles them. Usually they move around 45-60% when I choose 50%; and most of the time 49-51%.


Good luck to all magi-cians

:-)

[1337leet]

Hey guys,

I'm new to magi and have got some questions.

I'm using cpuminer v2 with my Intel Core i7 3630QM which is doing about 70 Kh/s - ist this setup okay so far?

I'm looking for a mining calclulation site and a hardware comparison site - could someone please help me?

What would be the estimated outcome (Kh/s) of 4x Intel Six-Core Xeon E7450 6x 2.4GHz? (yes I mean 4 real CPU's)

[thefix]

Hey guys,

I'm new to magi and have got some questions.

I'm using cpuminer v2 with my Intel Core i7 3630QM which is doing about 70 Kh/s - ist this setup okay so far?

I'm looking for a mining calclulation site and a hardware comparison site - could someone please help me?

What would be the estimated outcome (Kh/s) of 4x Intel Six-Core Xeon E7450 6x 2.4GHz? (yes I mean 4 real CPU's)

A good way to get a rough estimate from a given CPU is to take your CPU benchmark x .01 = KH/s

So for your cpu https://www.cpubenchmark.net/cpu.php?cpu=Intel+Xeon+E7450+%40+2.40GHz&id=2419&cpuCount=4   11,080 x .01 = 110 KH/s per cpu  (this is a rough estimate)

You are better off to limit your KH/s to about 100 or 200 KH/s long term

Throwing lots of hash at magi like people are doing drops the reward dramatically

You can actually earn way more from less hash if people cooperate

Right now we have a few people that do not understand that and a few that just don't care

[111magic]

Thanks theFix for your activity here!
Its great to see members helping Magi and eachother!
 

[xinwao]

CPU Coins:
http://cryptomining-blog.com/6090-crypto-coins-to-check-out-for-cpu-mining/

XMG, the only mentioned coin outside cryptonote coins!

[111magic]

Another Magi XMG faucet: http://xmg-faucet.tk/r=974PAWtgZx7P49159JubugTcK5utphVwvo

[111magic]

CPU Coins:
http://cryptomining-blog.com/6090-crypto-coins-to-check-out-for-cpu-mining/

XMG, the only mentioned coin outside cryptonote coins!

Thats really cool amigo!
Thanks for the link.

[fragilefungi]

Hey guys,

I'm new to magi and have got some questions.

I'm using cpuminer v2 with my Intel Core i7 3630QM which is doing about 70 Kh/s - ist this setup okay so far?

I'm looking for a mining calclulation site and a hardware comparison site - could someone please help me?

What would be the estimated outcome (Kh/s) of 4x Intel Six-Core Xeon E7450 6x 2.4GHz? (yes I mean 4 real CPU's)

Estimated outcome is hard to predict with magi because the reward goes down as the difficulty goes up.  If there is too much network hashrate the rewards fall even if you throw more hash on it.  4 XMG - 80 XMG is probably a fair estimate.  Use sweetspot miner and you can set cpu usage targets for different rewards.  I wouldn't suggest mining 100% unless the rewards are high, but if you power is free you can.

[joelao95]

As mentioned by fragilefungi, a convenient miner (ideally click & go mining) is a much need, and I believe that will get us more miners without painful compiling (notice if you compile from the source code, you might get a specific optimized miner only for your pc which might be efficient than the following compiled ones). Also, I compiled the miner with "-e" flag to adjust the CPU efficiency from inside the miner.

https://github.com/magi-project/m-cpuminer-qt
https://github.com/magi-project/m-cpuminer-v2

I have forked the code of ScryptMiner by Matoking (https://github.com/Matoking/ScryptMiner-GUI), which is based on Qt. This is very advantageous; we can add codes later on to adapt to the special block reward of magi, and design a smart miner with strategy mining. This will be a one in the to-do list. Here are the compiled binaries:

http://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-64-win.zip
http://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-32-win.zip
http://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-64-ubuntu.tar.gz
http://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-macosx-10.7.dmg

There are also minerd available here: http://coinmagi.org/files/m-cpuminer:

http://coinmagi.org/files/m-cpuminer/m-minerd-64-win.zip
http://coinmagi.org/files/m-cpuminer/m-minerd-32-win.zip
http://coinmagi.org/files/m-cpuminer/m-minerd-64-ubuntu.tar.gz
http://coinmagi.org/files/m-cpuminer/m-minerd-64-macosx.zip

These are how the Qt miner looks like:

Notice "-e 60" in block "Additional parameters" in the above image adjusts the CPU mining usage, e.g., 60%. All the parameters are automatically saved into m-cpuminer.conf, in the same folder. The GUI basically makes use of the miner under folder "miner". If you can compile with a higher efficiency, please let me know. Please make sure you modify the pool parameters, or you will mine through my account.

This GUI is kinda similar to NeedIfFindIt's Sweet Spot http://xmg.makejar.com/, which will be better than this I believe; the advantage is that we can make it available for mac os and linux too, and most of other platforms because of Qt base. The linux version is statically linked, if you run into issues, let me know. I very much like the miner being compiled in low end/old system/pc. I believe magi's mining is useful in this aspect. I will get some details for the PoW. I do agree one mining a coin cares about the return, while I like the idea you place the miner with limited CPU usage, you can forget it (say 10% CPU): think about how many computers which run idle in the offices or other places for overnight, at least it's a waste of power. I am not encouraging you use an office PC for mining, but running a limited miner in a daily computer is quite doable, and that, from another point of view, is to save energy as they maintain a coin system provided that magi is useful at some extent and this purpose will be meaningful as well.

[1337leet]

Thanks for your help guys.

My miner is running since 12 hours now. My calclulation says it's doing 7-8 XMG / Day at 70 KH/s.

That's not as much as I expected it will be.

That would mean 440 KH/s would only make about 44 XMG / Day which is worth about ~ 0,50 Euro.
Energy consumtion would be 2,50 €.
That would mean that mining XMG is far from beeing profitable.


Even my notebook with 22 nm technology CPU has a power consumtion of 60 Watt at full load. Which means power costs of abou 0,30 Euro / Day. And has got an outcome of ~7,5 XMG which is worth 0,084 Euro.

So how could mining XMG be profitable?
Or do you guys all hope for a rising course?

[111magic]

Think the blockreward is not high at the moment.
So it might give you better results when the blockreward is higher again.
And indeed Magi team will continue with awesome projects, campaigns and improvements.
That might give a nice boost to the value.
Also price was lower a few weeks ago.
Magi will release the android app this month.
 

[111magic]

As mentioned by fragilefungi, a convenient miner (ideally click & go mining) is a much need, and I believe that will get us more miners without painful compiling (notice if you compile from the source code, you might get a specific optimized miner only for your pc which might be efficient than the following compiled ones). Also, I compiled the miner with "-e" flag to adjust the CPU efficiency from inside the miner.

https://github.com/magi-project/m-cpuminer-qt
https://github.com/magi-project/m-cpuminer-v2

I have forked the code of ScryptMiner by Matoking (https://github.com/Matoking/ScryptMiner-GUI), which is based on Qt. This is very advantageous; we can add codes later on to adapt to the special block reward of magi, and design a smart miner with strategy mining. This will be a one in the to-do list. Here are the compiled binaries:

http://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-64-win.zip
http://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-32-win.zip
http://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-64-ubuntu.tar.gz
http://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-macosx-10.7.dmg

There are also minerd available here: http://coinmagi.org/files/m-cpuminer:

http://coinmagi.org/files/m-cpuminer/m-minerd-64-win.zip
http://coinmagi.org/files/m-cpuminer/m-minerd-32-win.zip
http://coinmagi.org/files/m-cpuminer/m-minerd-64-ubuntu.tar.gz
http://coinmagi.org/files/m-cpuminer/m-minerd-64-macosx.zip

These are how the Qt miner looks like:

Notice "-e 60" in block "Additional parameters" in the above image adjusts the CPU mining usage, e.g., 60%. All the parameters are automatically saved into m-cpuminer.conf, in the same folder. The GUI basically makes use of the miner under folder "miner". If you can compile with a higher efficiency, please let me know. Please make sure you modify the pool parameters, or you will mine through my account.

This GUI is kinda similar to NeedIfFindIt's Sweet Spot http://xmg.makejar.com/, which will be better than this I believe; the advantage is that we can make it available for mac os and linux too, and most of other platforms because of Qt base. The linux version is statically linked, if you run into issues, let me know. I very much like the miner being compiled in low end/old system/pc. I believe magi's mining is useful in this aspect. I will get some details for the PoW. I do agree one mining a coin cares about the return, while I like the idea you place the miner with limited CPU usage, you can forget it (say 10% CPU): think about how many computers which run idle in the offices or other places for overnight, at least it's a waste of power. I am not encouraging you use an office PC for mining, but running a limited miner in a daily computer is quite doable, and that, from another point of view, is to save energy as they maintain a coin system provided that magi is useful at some extent and this purpose will be meaningful as well.

Awesome job Joe. Well done.
Are those also updated or added in the OP?

[1337leet]

One more question:
Is there any possibility to increase the intensity of the miner?

At the moment I use cpuminer v2 with the following instructions: minerd-x64-corei7 -a m7mhash -o stratum+tcp://xmg.suprnova.cc:7128 -u username.workername -p password.

It's using all CPU Cores at 100 %  but maybe there is a possibility to stress them a bit more?

CPU is a i7 3630QM Ivy Bridge