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

[111magic]

[goldlabel]

More info will follow tomorrow

[LordCoder]

Nice GFX team you have here. I have saved all the XMG and now they're staking a bit. That's nice, probably will increase the amount.

[okae]

Nice GFX team you have here. I have saved all the XMG and now they're staking a bit. That's nice, probably will increase the amount.

not probably, be 100% sure about that

btw @goldlabel the more post i see related to that contest, i mean about the cs:go tournament, the more that i feel that  need to buy again the cs and start to play xD

[fragilefungi]

It is clearly written in the OP that mining Magi only worths it if total hashrate is in a certain range.
What is so hard to udnerstand about it?

You are right about this mozsi.
People pls read the OP.
But also read the latest posts.
Our dev asked in different posts for your opinions.
Also give the team more info about big miners.
Not only the hashrate but also the pool-name and pool-nick. Like cc90cc, he did not know the Magi unique blockreward system. After contact and telling him about this hè posted in the OP.
So reading the OP and posts are important.

If you are mining Magi for gaining fast money than things could be disappointed. Magi is a long-term currency with an awesome and growing community.
The new developments like the coming Magi android app, new Proof of Interest campaign and other developments and campaigns will help with the grow of Magi. In the past time Magi achieved a lot and the Magi team and community will continue with that.
Everybody is welcome to join and try the different mind-set of mining Magi.

111magic you are good guys ,thanks!
Let me know if you need big share to test ,I support you fully

What kind of FPGA did you get to work?  I am leaning towards thinking that FPGA could be good for the magi community, as long as the code were open sourced and the miners were intending to hold the coins to stake.  The reason I think this way is because I think the best goal of the magi community is to have a secure network with low power consumption.  Small, low cost FPGAs could use as little as 5 watts, and if this could produce hashrate at 100 times the energy efficiency of CPU, I think that would be a good thing. 

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.

The best way of rewarding small miners with older equipment (also a good goal of the magi community or hard to implement) would be to have a block explorer where people can register their address.  That way it would be easier for the small miner to show that they are mining and holding, and therefore eligible for a bonus.

[Erkallys]

It is clearly written in the OP that mining Magi only worths it if total hashrate is in a certain range.
What is so hard to udnerstand about it?

You are right about this mozsi.
People pls read the OP.
But also read the latest posts.
Our dev asked in different posts for your opinions.
Also give the team more info about big miners.
Not only the hashrate but also the pool-name and pool-nick. Like cc90cc, he did not know the Magi unique blockreward system. After contact and telling him about this hè posted in the OP.
So reading the OP and posts are important.

If you are mining Magi for gaining fast money than things could be disappointed. Magi is a long-term currency with an awesome and growing community.
The new developments like the coming Magi android app, new Proof of Interest campaign and other developments and campaigns will help with the grow of Magi. In the past time Magi achieved a lot and the Magi team and community will continue with that.
Everybody is welcome to join and try the different mind-set of mining Magi.

111magic you are good guys ,thanks!
Let me know if you need big share to test ,I support you fully

What kind of FPGA did you get to work?  I am leaning towards thinking that FPGA could be good for the magi community, as long as the code were open sourced and the miners were intending to hold the coins to stake.  The reason I think this way is because I think the best goal of the magi community is to have a secure network with low power consumption.  Small, low cost FPGAs could use as little as 5 watts, and if this could produce hashrate at 100 times the energy efficiency of CPU, I think that would be a good thing. 

I think it would be bad for Magi to see FPGA implemented. In Magi, the aim is not to have to more hashrate as possible, so having such board would make it rise (a lot) and thus block reward will be all the time less than 1 XMG/block.

[joelao95]

I am curious about the discussion of  FPGA; it's pretty impossible for me to make FPGA working on magi's algo. It needs to implement seven hash functions along with floating computation. Other than FPGA, there are many possibilities to have a huge amount of hashing, and you might not realize what's out there. I recalled NOBL got hard forked because people throw a GPU farm hash into a pool (you might know how high hash over the rest of network is needed to get hard fork) (and then they decided to go with pure PoS, so no one can ever mine it), and there are CPU farm too (it was the case when magi is launched, people try to manage a number of CPU cores in mining, like a farm), or a botnet which is not unlikely as well. I am guessing too, only cc90cc knows what testcc90cc meant and the intention.

[Erkallys]

Would it be possible for SweetSpot to automatically start at boot and start hashing with his usual settings ?

[cisahasa]

I am curious about the discussion of  FPGA; it's pretty impossible for me to make FPGA working on magi's algo. It needs to implement seven hash functions along with floating computation. Other than FPGA, there are many possibilities to have a huge amount of hashing, and you might not realize what's out there. I recalled NOBL got hard forked because people throw a GPU farm hash into a pool (you might know how high hash over the rest of network is needed to get hard fork) (and then they decided to go with pure PoS, so no one can ever mine it), and there are CPU farm too (it was the case when magi is launched, people try to manage a number of CPU cores in mining, like a farm), or a botnet which is not unlikely as well. I am guessing too, only cc90cc knows what testcc90cc meant and the intention.

Just pointed out on IRC:

14:04:34 <+Wolf`> joelao95: You don't implement an FPGA miner for an algo with ONE
                  chip
14:04:43 <+Wolf`> that's either ASIC prototyping, or retarded
14:13:26 <+Wolf`> joelao95: For a CHEAP, extremely effective FPGA miner for M7M (or
                  X11)
14:13:37 <+Wolf`> do several cheap FPGA chips on a custom board

there is new chip out, find the specs of it.. it will change all we know about mining.

if it is only one chip.. what a fuck!
the board has 10-20 chips.
luck, most people cant buy those, 16nm tech. (or was it even 14nm)

AntMiner S7 has no such chips, but it is coming soon..
we have soon lots of trash asics..

[111magic]

It's a good thing to talk about the future of mining and Magi. Nice to see this.

[GreyFoxPancake]

Looking forward to XMG gaining more steam, and more recognition (not to mention more value)! Send me messages on where I can vote for this coin to help bring it to the front!

[okae]

Looking forward to XMG gaining more steam, and more recognition (not to mention more value)! Send me messages on where I can vote for this coin to help bring it to the front!

thank you for your great words, this is the current thread where Magi users should vote -> https://bitcointalk.org/index.php?topic=393147.6360

but i think that newbies forum rank cant vote, btw as i sayd, ty for your intentions you are more than welcome.

also dont forget to visit us on irc Freenode IRC: #magi  where you can find Magi users who can help you about anything you need, just dont ask for money xD

[GreyFoxPancake]

If anyone is wanting to buy some XMG, it is going for 5500 satoshi on Cryptopia, 4790 satoshi on Cryptsy, and 4803 satoshi on Poloniex. Also, don't forget that it's up for voting on Bter. Any and all help is appreciated! If anyone knows of any other exchanges that have it up for voting, let me know! I'm wanting to throw as much help at this as possible. Thank you all!

[joelao95]

I am curious about the discussion of  FPGA; it's pretty impossible for me to make FPGA working on magi's algo. It needs to implement seven hash functions along with floating computation. Other than FPGA, there are many possibilities to have a huge amount of hashing, and you might not realize what's out there. I recalled NOBL got hard forked because people throw a GPU farm hash into a pool (you might know how high hash over the rest of network is needed to get hard fork) (and then they decided to go with pure PoS, so no one can ever mine it), and there are CPU farm too (it was the case when magi is launched, people try to manage a number of CPU cores in mining, like a farm), or a botnet which is not unlikely as well. I am guessing too, only cc90cc knows what testcc90cc meant and the intention.

Just pointed out on IRC:

14:04:34 <+Wolf`> joelao95: You don't implement an FPGA miner for an algo with ONE
                  chip
14:04:43 <+Wolf`> that's either ASIC prototyping, or retarded
14:13:26 <+Wolf`> joelao95: For a CHEAP, extremely effective FPGA miner for M7M (or
                  X11)
14:13:37 <+Wolf`> do several cheap FPGA chips on a custom board

there is new chip out, find the specs of it.. it will change all we know about mining.

if it is only one chip.. what a fuck!
the board has 10-20 chips.
luck, most people cant buy those, 16nm tech. (or was it even 14nm)

AntMiner S7 has no such chips, but it is coming soon..
we have soon lots of trash asics..

I guess I've to buy a FPGA at some point to get a feeling about it.

[joelao95]

If anyone is wanting to buy some XMG, it is going for 5500 satoshi on Cryptopia, 4790 satoshi on Cryptsy, and 4803 satoshi on Poloniex. Also, don't forget that it's up for voting on Bter. Any and all help is appreciated! If anyone knows of any other exchanges that have it up for voting, let me know! I'm wanting to throw as much help at this as possible. Thank you all!

Thanks. Also I'd like to see the idea of magi being forwarded to all people, and about any deficiency in the methodology.

[GreyFoxPancake]

Looking forward to XMG gaining more steam, and more recognition (not to mention more value)! Send me messages on where I can vote for this coin to help bring it to the front!

thank you for your great words, this is the current thread where Magi users should vote -> https://bitcointalk.org/index.php?topic=393147.6360

but i think that newbies forum rank cant vote, btw as i sayd, ty for your intentions you are more than welcome.

also dont forget to visit us on irc Freenode IRC: #magi  where you can find Magi users who can help you about anything you need, just dont ask for money xD

I would never straight out ask for money, but I'm always willing to offer what services I can to make a coin or two. And thanks for the link. If I can get out of newbie, I'm going to vote ASAP. And thanks for the irc link. I'll need to get an irc client set up on my computer. lol.

[Erkallys]

Would it be possible for SweetSpot to automatically start at boot and start hashing with his usual settings ?

Would it be possible ? This could simplify my life. I'd just have to turn on my computer when I'm moving, and thus I'd save time. It could help me a lot, especially when I have to go quickly.

[elpsycongro]

Would it be possible for SweetSpot to automatically start at boot and start hashing with his usual settings ?

Would it be possible ? This could simplify my life. I'd just have to turn on my computer when I'm moving, and thus I'd save time. It could help me a lot, especially when I have to go quickly.

if its windows you could just add it to the startup folder and it would just run after log in , if it linux no idea .

[Erkallys]

Would it be possible for SweetSpot to automatically start at boot and start hashing with his usual settings ?

Would it be possible ? This could simplify my life. I'd just have to turn on my computer when I'm moving, and thus I'd save time. It could help me a lot, especially when I have to go quickly.

if its windows you could just add it to the startup folder and it would just run after log in , if it linux no idea .

I'm on Windows 7. Where is located this startup folder ? Also, I need that SweetSpot start hashing. Having it running without hashing has no interest at all.

[elpsycongro]

Would it be possible for SweetSpot to automatically start at boot and start hashing with his usual settings ?

Would it be possible ? This could simplify my life. I'd just have to turn on my computer when I'm moving, and thus I'd save time. It could help me a lot, especially when I have to go quickly.

if its windows you could just add it to the startup folder and it would just run after log in , if it linux no idea .

I'm on Windows 7. Where is located this startup folder ? Also, I need that SweetSpot start hashing. Having it running without hashing has no interest at all.

Click Start  , click All Programs, right-click the Startup folder, and then click Open.
Open the location that contains the item you want to create a shortcut to.(sweetspot)
Right-click the item, and then click Create Shortcut. The new shortcut appears in the same location as the original item.
Drag the shortcut into the Startup folder.
The next time you start Windows, the program will run automatically.

as for sweetspot to start hashing when its opened there is a setting in the program to do that.