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

[serjent05]

This is another milestone of development for XMG!  Congratulation Dev Joe,  it's normal to have problem with compilation to different system I think, and I'm sure you will fix it soon.  For a meantime, let marketing and promotion do it's job.  Let us spread the news XMG people!!!  

Please RT

https://twitter.com/Coin_Magi_XMG/status/745495964861894656

https://twitter.com/cryptoadvisor01/status/745522685908652033

hey advisor can i share you image here? I like it!

[1713564438]

1713564438

[1713564438]

1713564438

[okae]

Updates (06/22/2016):

New wallet 1.3.0rc1 available:

simply awesome, ty for your hard work @joelao95, @feldenthorne and lightsplasher.

Please RT

https://twitter.com/Coin_Magi_XMG/status/745495964861894656

https://twitter.com/cryptoadvisor01/status/745522685908652033

done, cmon guys lets contribute to spread the MAGI word

[cryptonit]

great job with new XMG wallet
update worked flawless!

btw if someone interested in DMD too
dont miss our 3rd birthday event
https://bitcointalk.org/index.php?topic=580725.msg15324861#msg15324861
and the cloudmining promotion
https://bit.diamonds/community/index.php/topic,148.0.html

[cryptonit]

playing around a bit with new wallet 1.3 i have to say great job!
this wallet alone justify a marketcap of 200k $ u deliver more than most coins in that area

and i did hear the plans for 1.4 and 1.5 are even more intense improvements

for me a high recommended position in each serious crypto investor portfolio

XMG magi

just the still to high POW coinrollout compared to POS is what slows the raise of this coin

it should be the opposite way around most new coins via POS and some via POW

[joelao95]

Thanks for new wallet running great can you upload somewhere magi.conf or what I have write inside.

Please have a look at http://coinmagi.org/bin/example-conf/magi.conf, and these two lines:

Code:

# Transaction under stake with a value greater than the threshold is being splitted
stakesplitthreshold=500

# Transactions with values less than the threshold will combine into one
stakecombinethreshold=250

You can check whether settings are set properly by running commands from Console (on Qt wallet):

Code:

getstakesplitthreshold
getstakecombinethreshold

[joelao95]

Hi guys, I volunteered to manage the Signature Campaign, though it still in planning stage, if the team approved it then we will start to have the Signature Campaign Design Contest, and after the winner is chosen, will proceed to the campaign itself.  I want to make clear that it is still in the planning stage and need to be discussed.  The plan is to create another thread once the plan is approved and all the details are set so that all the upcoming update will be clear to see in this thread.

Just want to mention a thanks to serjent05's idea, Lion's commitment, starmman assistance, in any forms. Of course, Magic did a lot lot efforts into whatever marketing stuffs, including twitter, as well as goldlabel's facebook campaign.

I don't want to lead to any frustrations, but be ready to avoid burning your time. For any on-going efforts, you have my supports.

[joelao95]

Great work there XMG Dev, I'm still waiting for 111magic reply so i can finalize the calculation of the upcoming campaign.  Hopefully we can pull lots of interest toward XMG in this campaign.

Thanks; hope things keep going.

[joelao95]

great job with new XMG wallet
update worked flawless!

btw if someone interested in DMD too
dont miss our 3rd birthday event
https://bitcointalk.org/index.php?topic=580725.msg15324861#msg15324861
and the cloudmining promotion
https://bit.diamonds/community/index.php/topic,148.0.html

Congrats to DMD being growing old,  enjoy your party.

[joelao95]

playing around a bit with new wallet 1.3 i have to say great job!
this wallet alone justify a marketcap of 200k $ u deliver more than most coins in that area

and i did hear the plans for 1.4 and 1.5 are even more intense improvements

for me a high recommended position in each serious crypto investor portfolio

XMG magi

just the still to high POW coinrollout compared to POS is what slows the raise of this coin

it should be the opposite way around most new coins via POS and some via POW

I understand your concern, and that's mine too. Though I don't think the way we should take that straightforward, there are alternatives to get around.

Please do share any ideas/suggestions for anything else.

[joelao95]

What's the NEXT?

Without having concerns of utilizing my time and worries from some real pains, I would pursue the following plans.

Of course, the past talks should not be in vain. I need to pick up where I left.  

Some quick lookup brings up:

https://bitcointalk.org/index.php?topic=735170.msg12098727#msg12098727
https://bitcointalk.org/index.php?topic=735170.msg12091102#msg12091102
https://bitcointalk.org/index.php?topic=735170.msg12153220#msg12153220

My vision on the future:

# v1.4 or v1.5:

The significantly important step towards this coin's life - making MAGI "m-" (mobile) mineable, or to get rid of big miners (I know some people hate what I said, or believe MAGI is doomed to fail in this line). Basically, a likely success could be achieved by going through all of the followings:

* A very sharp difficulty adjustment algorithm
* PoW algo (I am very skeptical now)
* Bridging the PoW and PoS: mining encouraging phase and aggressive mining phase (TBD).
* Revisiting PoS-II; I'd name the new PoS protocol as "mPoS" (no big change, sort of improvemets). How mPoS is advantageous over the other PoS mechanisms is to be determined.

I need significant amount of time to research the feasibility and implementation. Okay, I am originally a research guy, so I'd push out some writings that will make us clear of what we are doing, fine? in a reasonable way, good enough, anything else? things like that. Frankly, I am still picking up the block chain and in the process of get a real feeling of HOW people believe the block chain thing is something a huge invention. I got to be into it.

# v1.6: Merging on latest bitcoin code base.

# v1.7: Greatly improved GUI interface with MAGI's own features; e.g., the PoW & PoS mining in the same wallet

# v1.8: Standing on the solid implementation of monetary system and staking, I intend to pursue developing blockchain applications; something for reals, and get new techs into the coin or blockchain.

And we'd put into thoughts on what happens and approaches to be taken once PoW is done. Obviously, PoS is the one we have, need something else.

In any cases, right now these are just talk-talk ideas. You should not commit until you see they come to true.

Anyway. Let's see.

[cryptonit]

great stuff joe
i see u are high motivated

i might be willing power one of the future poi promotion campaigns
if the results of ur work is great as ur plans let me expect  to be

[111magic]

What's the NEXT?

Without having concerns of utilizing my time and worries from some real pains, I would pursue the following plans.

Of course, the past talks should not be in vain. I need to pick up where I left.  

Some quick lookup brings up:

https://bitcointalk.org/index.php?topic=735170.msg12098727#msg12098727
https://bitcointalk.org/index.php?topic=735170.msg12091102#msg12091102
https://bitcointalk.org/index.php?topic=735170.msg12153220#msg12153220

My vision on the future:

# v1.4 or v1.5:

The significantly important step towards this coin's life - making MAGI "m-" (mobile) mineable, or to get rid of big miners (I know some people hate what I said, or believe MAGI is doomed to fail in this line). Basically, a likely success could be achieved by going through all of the followings:

* A very sharp difficulty adjustment algorithm
* PoW algo (I am very skeptical now)
* Bridging the PoW and PoS: mining encouraging phase and aggressive mining phase (TBD).
* Revisiting PoS-II; I'd name the new PoS protocol as "mPoS" (no big change, sort of improvemets). How mPoS is advantageous over the other PoS mechanisms is to be determined.

I need significant amount of time to research the feasibility and implementation. Okay, I am originally a research guy, so I'd push out some writings that will make us clear of what we are doing, fine? in a reasonable way, good enough, anything else? things like that. Frankly, I am still picking up the block chain and in the process of get a real feeling of HOW people believe the block chain thing is something a huge invention. I got to be into it.

# v1.6: Merging on latest bitcoin code base.

# v1.7: Greatly improved GUI interface with MAGI's own features; e.g., the PoW & PoS mining in the same wallet

# v1.8: Standing on the solid implementation of monetary system and staking, I intend to pursue developing blockchain applications; something for reals, and get new techs into the coin or blockchain.

And we'd put into thoughts on what happens and approaches to be taken once PoW is done. Obviously, PoS is the one we have, need something else.

In any cases, right now these are just talk-talk ideas. You should not commit until you see they come to true.

Anyway. Let's see.

Awesome job Joe.
Thanks for the new wallets!
 

[groggin]

 the future looks bright in here!      go Magi! yay   

[111magic]

 the future looks bright in here!      go Magi! yay   

Thanks groggin!
Appriciate you're post here in our awesome Magi community!

[111magic]

This is another milestone of development for XMG!  Congratulation Dev Joe,  it's normal to have problem with compilation to different system I think, and I'm sure you will fix it soon.  For a meantime, let marketing and promotion do it's job.  Let us spread the news XMG people!!!  

Please RT

https://twitter.com/Coin_Magi_XMG/status/745495964861894656

https://twitter.com/cryptoadvisor01/status/745522685908652033

hey advisor can i share you image here? I like it!

Thanks amigo. Great picture!

[lionheart78]

Good day XMG people!  111magic just created XMG slack channel : https://coinmagi.slack.com  please feel free to join.  

[Abiky]

Updates (06/22/2016):

New wallet 1.3.0rc1 available:

Download link: http://coinmagi.org/bin/m-wallet-1.3.0rc1/
(I'll fulfill OSX compiling, TBD)

Source: https://github.com/magi-project/magi/tree/1.3.0rc

Block chain: http://coinmagi.org/bin/block-chain/

Release notes: http://coinmagi.org/bin/release-notes.md

Changelog:
# Changed database for storing transaction and block indices from Berkeley DB to LevelDB;
# Enabled block hash storing in storage and loaded directly from disk;
# Fixed "Checkpoint is too old" warning
# PoS stake splitting and combining features, which can be set by stakesplitthreshold=VALUE and stakecombinethreshold VALUE in magi.conf, or by RPC commands: setstakesplitthreshold and setstakecombinethreshold; RPC commands getstakesplitthreshold and getstakecombinethreshold to show their current values;
# Added price information on Qt Overviewpage;
# Qt wallet logo change and GUI improvements;
# Merge pull request of version check updates by feldenthorne; fixed automatic version check including test/rc versions.
# Merge pull request of adding total balance in "Transactions" page by lightsplasher;

Thanks to feldenthorne and lightsplasher for the contributions to the code base and sorry for the long-delayed merge. I am supposed to respond to the pull request significantly fast from now on. If anyone is able to make changes to source, please.

Note 1:
We are changing to leveldb for block index storing. For this purpose, we suggest use of the new wallet in limited occasions. This is the reason of the RC version, though I didn't see any issue in my own side. At this moment, I DON'T recommend using the wallet in your minings, pool server, or exchanges. In my estimate about two weeks long without having any issues coming up, we will roll out a stable release.  

Note 2:
Due to change to leveldb data, you have to get rid of the old version of block data before using the new client. To save the time, I have pulled out an up-to-date block chain which can be downloaded from here: http://coinmagi.org/bin/block-chain/

A concern of stake splitting & combing in original ppc design since it involves security concerns:
https://github.com/magi-project/magi/blob/1.3.0rc/src/wallet.cpp#L1595

Code:

                // The original design prevents stakes having the same parent transaction from combining
                // which somehow reads as encouraging splitting (improve security);
                // This mechanism is to be disabled in Magi since combining won't cause security concern 

                /* Splitting is only enforced at wallet, not by PoS protocol as well as consensus over network.
                 * Original PPCoin design encourages splitting as per "Lower coinstake combine threshold to
                 * improve security", which can be understood by the fact that in general PoS, with a large
                 * number of coins in stake comes greater chance of (PoS) mining blocks. This is not going to 
                 * happen in Magi. Also, hardening nStakeCombineThreshold is impractical since an advanced user 
                 * can easilly make a change to that and rebuild a wallet. The change to nStakeCombineThreshold 
                 * should be available externally, e.g., RPC command, magi.conf configuration file. 
                 ** Magi, for optimum staking, nStakeCombineThreshold should be used in combination with nStakeSplitThreshold.*/

You should use nStakeCombineThreshold along with nStakeSplitThreshold for best results. The optimum threshold is neither a random number nor as large as possible; it should be an appropriate value, say 500 XMG, according to MAGI's PoS protocol.  

Update procedure:
1) Backup wallet.dat to a safe place;
2) Delete everything under the Magi or .magi folder except wallet.dat;
3) Download block chain from here http://coinmagi.org/bin/block-chain/ and unzip the fille;
4) Unzip all of the stuffs under the folder m-blockchain into Magi or .magi;
5) Start up the new wallet.

At the last minute when I compiled the wallet in windows, the price info on the new wallet in Windows seems not working, though it all worked out in my linux machine; we'll fix it in the final version.

I guess this is it.

I'll talk more most likely tomorrow night.

Great to see a brand new release of the RC version of the Magi wallet! Hopefully, it will only be a matter of time before we could get our hands in a stable version of the wallet. In the meantime, I will test this on my Debian VPS and see if everything works fine. It would be pretty amazing to see the speed increase (which I think it has been implemented in the new release) as it will be a great way to get quick access to the GUI of the wallet. Can't wait for more new and exciting stuff like these! Proof of Interest IV here we come. 

[joelao95]

great stuff joe
i see u are high motivated

i might be willing power one of the future poi promotion campaigns
if the results of ur work is great as ur plans let me expect  to be

It's kinda heavy to handle. PoI inspired me of a charity channel in the coin.

[joelao95]

Great to see a brand new release of the RC version of the Magi wallet! Hopefully, it will only be a matter of time before we could get our hands in a stable version of the wallet. In the meantime, I will test this on my Debian VPS and see if everything works fine. It would be pretty amazing to see the speed increase (which I think it has been implemented in the new release) as it will be a great way to get quick access to the GUI of the wallet. Can't wait for more new and exciting stuff like these! Proof of Interest IV here we come. 

Speeding was already implemented; took me about half minute to load up the wallet. Let me know after your testing.

I'll get daemons included at the stable release (didn't have enough time to get all things perfectly ready, bit rush); if I have enough time, I like to have some handy features such as block rewards, staking time/weight put under a mint menu too.

[Jookly]

May I be the first to say.... Page 666!!!! wooo \o/

https://www.youtube.com/watch?v=etAIpkdhU9Q