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

[Erkallys]

The reward is currently at 0 XMG/block according to SweetSpot. Does it mean that no XMG is mined every block, or that no block is mined ? This is quite strange that there is 106 MH/s when it is at 0 XMG/block and only 15 MH/s when the block reward is at 18XMG/block . People is so illogical !

[joelao95]

The reward is currently at 0 XMG/block according to SweetSpot. Does it mean that no XMG is mined every block, or that no block is mined ? This is quite strange that there is 106 MH/s when it is at 0 XMG/block and only 15 MH/s when the block reward is at 18XMG/block . People is so illogical !

0 is wrong, it should be below 1; check here: https://chainz.cryptoid.info/xmg. The reason is that block adjusted based on difficulty which is very much varying from time to time. The block is designed to be sensitive to difficulty in a situation like for now, so that once the big miner quit, we'll hit somewhat big block. The essential reason is the very much varied difficulty.

[111magic]

I believe you / miners should not place blunt trust in magi that we name a best. Though we like you be here, you're FREE to go. I can't tell you, ok here is the issue, and we have the solutions to conquer it. We're yet so intelligent to come up with PERFECT solutions to get around all of the issues; no. If you're disappointed by the situations so much, and then I'm sorry for this, some thing else will be a good fit to your needs of mining.

May there be serious situations coming up in the future frightens all of us and beat this coin down ever?

If you'd ask me how bad it is now, I'd say, not really. I really said here:

https://bitcointalk.org/index.php?topic=735170.msg12724060#msg12724060

Of course we need improve the block, but I do have very serious situations to cope with before I can invest as much time as before into the coin works.

If you want to resist GPU only and likes this (at least it sounds it is) and really like to have ROI (daily / weekly base), go to else like yescript as few people talked that; to my knowledge it is now CPU mining, and there is GPU mining with not much advantages; but you never know real facts until they are disclosed (I believed many of us have seen things like that many times), but well you're aware of the botnet issue too.

I mentioned why we should stay low hashrate, and we should not go with memory enhanced algo either. Basically I don't like to say it until I can really bring up something. The advantage is to have low end machines coming along mining; a side effect is the low power consumption. You know what options are then? We can implement mining devices without much energy consumed and hence energy consumed not from your home electricity, but from some where, that means ZERO cost. Would this be a solution? Getting this ideally brings us many miners without worrying much the cost so much so that the miner base can "resist" professional miners.

I like the idea with low energy mining.

[1337leet]

You guys tell me you will work on it since days... what about doing it and not just talking about it?

Mining is just a hobby - but no one will burn money for nearly no reward!

2 options in my eyes:

1: Set a maximum of 60 MH/s Net-Hashpower - new miners have to wait until old ones stop mining
2: Change the way how the reward is calclulated. It doesn't make any sense to lower the reward if the hashpower increses. All the other coins don't have such problems with the net-hashpower... so do what they do.

At least and as the easiest solution... just set a maximum of 300 KH/s for each mining worker. No single CPU has got more than 300 KH/s. Everything above must be GPU or something else.

[goldlabel]

Goldlabel does anyone from you clan play League of Legends?  I have been using my rewards from playing to buy more MAGI 

Mean this game fragilefungi?

I think this is this one. I'm not aware that there is several League of Legends game out there (I think, not a pro of this kind of games).

This game is the one!  I love real time strategy games the most.  I have been playing a lot of the newest yordle GNAR!  Yordles are my favorite because they are small cute rodents 

Goldlabel you have this game on TheFruitsClan also?

Yes and no, a couple of players play this game, but we dont have a server for (i dont think its possible)

[goldlabel]

Goldlabel does anyone from you clan play League of Legends?  I have been using my rewards from playing to buy more MAGI  

I play, what rewards are you talking about?

Hi You All,
Very soon there will be a CSS or CSGO battle sponsor by XMG.
You can win 1000 XMG with it, need i say its the best crypocoin out there?

Deadmatch

It will be a last men standing game, so when your dead your out.
Magi sponsor of 1000 xmg for the game, but if someone els wants to sponsor also that would be great, but its not necessary.
We will stream the game if possible 2 way`s, we will post it on fb/website and youtube.
Everyone gets the same weapons and no money to buy more.

Awesome Goldlabel. Do you have a specific date in mind for this tournament?

We are thinking about wednesday 28-10-2015?

Think thats a nice day for a great Tournament! Maybe in a weekend would also be good.
Looking at the time-difference all members are living in.

Goldlabel have a time ready for wednesday?

We are thinking about 22:30 CET

[111magic]

Thats great Goldlabel!
I will promote that time than!

[go6ooo1212]

I think Joe's doing great work around the code here and keeping the algo unique. I'm following and mining with the very beginning.

[NeedIfFindIt]

The reward is currently at 0 XMG/block according to SweetSpot. Does it mean that no XMG is mined every block, or that no block is mined ? This is quite strange that there is 106 MH/s when it is at 0 XMG/block and only 15 MH/s when the block reward is at 18XMG/block . People is so illogical !

Sweet Spot uses integers. Since it uses "round" function 0 means below 0.5, 1 means between 0.5 and 1.5 etc.

When I added block value targeting I never though there will be a single !d!ot bringing the POW reward below 3 XMG. Actually the first version supporting block value targeting was hardcoded to 12XMG/block since everything below 16~20 XMG/Block is waste of money.

Then I though that if an user is heating his place with miners he may be happy with 6 XMG/Block ...

[lordmick]

is it possible to make it POS only? we should for now..
its almost already it.. less than 0.65XMG/block

[Lightsplasher]

is it possible to make it POS only? we should for now..
its almost already it.. less than 0.65XMG/block

If we made it PoS only I would raise the block reward.  Possibly we could even do something fancy like adding a “Pay it Forward” type block reward where you could earn an additional reward if you gift part of your reward to somebody else.  We could do this by adding signing on the block explorer (like the hyperstake rich list http://www.presstab.pw/phpexplorer/HYP/richlist.php) so that a neutral third party could verify that the addresses appear to be controlled by different members of the community.  I'm trying to put something together to support this on a block chain that can do contracts.

Please see: http://lightsplasher.com/2015/pay-it-forward/  for more details.

[joelao95]

You guys tell me you will work on it since days... what about doing it and not just talking about it?

Mining is just a hobby - but no one will burn money for nearly no reward!

2 options in my eyes:
...

Your suggestions are appreciated. Unfortunately I burned my time a little bit, I'll try to work on it as soon as I can.

1: Set a maximum of 60 MH/s Net-Hashpower - new miners have to wait until old ones stop mining

We do have a maximum right now; or you're speaking of other approaches for the limiation I'm not aware of?

2: Change the way how the reward is calclulated. It doesn't make any sense to lower the reward if the hashpower increses. All the other coins don't have such problems with the net-hashpower... so do what they do.

I'm afraid there is a concern by switching to this; we'll end up at huge network hash by the time, and people would not be able to use handy devices to mine. Bitcoin is an example.  

At least and as the easiest solution... just set a maximum of 300 KH/s for each mining worker. No single CPU has got more than 300 KH/s. Everything above must be GPU or something else.

I have no clue of setting maximum for individual, it is only the network hash that is seen.

[joelao95]

is it possible to make it POS only? we should for now..
its almost already it.. less than 0.65XMG/block

In my opinion, this isn't a good direction to go (I remembered pure PoS posts before back a few pages). PoW & PoS is most energetic imo.

[cc90cc]

testcc90cc   38,801   106.919
Confirmed   954.467146
Unconfirmed   9.501803

I don't know why big share mining but only a little...

[feldenthorne]

testcc90cc   38,801   106.919
Confirmed   954.467146
Unconfirmed   9.501803

I don't know why big share mining but only a little...

Are you asking why such a large hashrate is producing so few coins?

The block reward adjusts according to the network hashrate, rising to a certain point, then quickly dropping if the hashrate gets too high. You can check out a plot of the block reward function on this site. Just keep in mind that the reward calculation is based on the hashrate over time, not the instantaneous hashrate.

[cc90cc]

testcc90cc   38,801   106.919
Confirmed   954.467146
Unconfirmed   9.501803

I don't know why big share mining but only a little...

Are you asking why such a large hashrate is producing so few coins?

The block reward adjusts according to the network hashrate, rising to a certain point, then quickly dropping if the hashrate gets too high. You can check out a plot of the block reward function on this site. Just keep in mind that the reward calculation is based on the hashrate over time, not the instantaneous hashrate.

got it!
thanks

[111magic]

testcc90cc   38,801   106.919
Confirmed   954.467146
Unconfirmed   9.501803

I don't know why big share mining but only a little...

Are you asking why such a large hashrate is producing so few coins?

The block reward adjusts according to the network hashrate, rising to a certain point, then quickly dropping if the hashrate gets too high. You can check out a plot of the block reward function on this site. Just keep in mind that the reward calculation is based on the hashrate over time, not the instantaneous hashrate.

got it!
thanks

Thanks for checking out the thread cc90cc.
Magi already thougth: What might be the reason this miner uses a huge hashrate.
Indeed the blockreward depends on the hashrate.
The higher the hashrate the lower the blockreward.
Minnig Magi is different than mining other coins.
 

[jtraverso]

Any update on POM Rewards?

Any chance to get paid for the last mining campaign?

Yes it will happen next week. All miners joining the Proof of Mining will receive their reward.

[Scarfmonster]

We just passed 230 Mh/s, this is definitely not good.

[1337leet]

I have a single user with 50 MH/s in my pool. I'm out - bye bye.