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

[mintminty59]

Thats the problem , there currently throwing GHz at it

XMG   
MagiCoin LIVE!

M7M   830   59.42 GH/s   94.69 GH/s

They currently have 66% of total hash rate

My 150 Khz is a drop in the ocean

[111magic]

Thats the problem , there currently throwing GHz at it

XMG   
MagiCoin LIVE!

M7M   830   59.42 GH/s   94.69 GH/s

My 150 Khz is a drop in the ocean

Thanks for the info amigo

[mintminty59]

No problem , them having 66% of the total hash rate is madness and sadly this is what eventually happens to most coins.

https://xmg.suprnova.cc/index.php?page=statistics&action=pool

[joelao95]

No problem , them having 66% of the total hash rate is madness and sadly this is what eventually happens to most coins.

https://xmg.suprnova.cc/index.php?page=statistics&action=pool

I believed how magi mining works is clear as I noticed your mining records back to 2015, while I still want to mention for those who aren't clear:

http://m-core.org/PoW-II-v2/

http://m-core.org/resources/#mpow

https://arxiv.org/pdf/1409.7948.pdf

And I'd see to make it even better.

[joelao95]

Thank you for the answer deztroyr1!
I'm not trying to do a moneybench here. I use the Xeon usually for other stuff of course... I am a scientist and usually I do simulations of atomic nuclei, if you're curious, so let's say that I got them for free. But ATM I don't have the time to lunch other simulations since I'm busy writing/reading/vacationing... so my hardware sits in idle...
I do not do it for the money either... I mainly do it to understand the hashing, the performance/compilation, the blockchain and cryptocurrency economy from the scientific perspective, and how it has evolved in this years so to speak.

So from the purely performance point of view my
two E5-2630v4, 10 core HT 2.2GHz, 3.1GHz turbo, and 25 MB cache each with DDR4 2666GHz should pulverize a
i5-6600 3.30 GHz, turbo 3.90 GHz, with DDR3 1666GHz or similar, and 6MB cache as it happens for physics simulations...

Unless hashing algo is severly single core.

If that's the case, running two workers should give me a factor two improvement on my dual socket (?), and running 40 threads should give me not much improvements, that's not what currently happens.

even if scaling is not linear there is definetely some scaling, while running two workers instead of one decreases the performances.

I can try some tests. Do you have some guidance or guide to link me to?

I'm not on a status of experimenting the mining, but probably recall the scaling question that won't be linearly increasing with increasing number of threads, likely due to heats. For testing and also the safe side to avoid burning too much heating to your computing rigs, I recommend the "-e flag" to suppress the CPU percentage of usage, and then see how much increase with threads.  Here are some info:

http://m-core.org/download/#mining-softwares
http://m-core.org/resources/mining.html#mpow-mining

Let me know whichever on the site is confusing.

[joelao95]

http://slack.m-core.org/

[deztroyr1]

High hashrate is discour-
aged through adjusting the rewards: high rewards are
issued at low network hashrate. It is also observed that
the new system emphasizes the participation of miners
instead of their hashing power, allowing for a new min-
ing mechanism, i.e., proof-of-mining.

We should all be mining at low hash rates. truth is that people will always want to get as much as possible, as fast as possible. How to keep up your own rewards while people are throwing too much hashpower? exactly... by also throwing in more hash power by yourself.... resulting in a higher total hash rate. the idea is great but i'm afraid that nobody is going to lower their own hash rate while others are pushing for higher hash rates. this because you would obviously be getting less shares. people are selfish. better build a mechanism around selfishness than having hopes that people would adjust their speeds for the sake of the community?

please correct me if i'm wrong

[mintminty59]

The point he missed is and you said it at some degree. I understand the mechanism, what you are failing to understand is I have a low hash rate in comparison to say suprnova.

The diff level climbed well above 4 yesterday and the pay out to less than 2  magi a block. Now where is the common sense someone with a low hash rate is even going to continue wasting electricity and time?

I liked this coin because at the time it was a very good concept, was a fair coin, and everyone stood a good chance, sadly a huge pool coming along has done same as it does to most coins and phased out the little man.

[starmman]

High hashrate is discour-
aged through adjusting the rewards: high rewards are
issued at low network hashrate. It is also observed that
the new system emphasizes the participation of miners
instead of their hashing power, allowing for a new min-
ing mechanism, i.e., proof-of-mining.

We should all be mining at low hash rates. truth is that people will always want to get as much as possible, as fast as possible. How to keep up your own rewards while people are throwing too much hashpower? exactly... by also throwing in more hash power by yourself.... resulting in a higher total hash rate. the idea is great but i'm afraid that nobody is going to lower their own hash rate while others are pushing for higher hash rates. this because you would obviously be getting less shares. people are selfish. better build a mechanism around selfishness than having hopes that people would adjust their speeds for the sake of the community?

please correct me if i'm wrong

I think there is some balance to the algorithm in Magi - people start pushing large hash rate - but the reward drops and they get discouraged - I just mine Magi slow and steady - don't get huge rewards - but mining for about two years has had quite a nice build up. I used to mine > 50-100XMG per day, now its down to 5 if I'm lucky - but at the same time the market cap has risen from 20k to ~$1M, so its all relative and I can't complain. I also reduced my hash power as trading is yielding much, much more than the mining these days - in the past i'd get more from mining than trading.

[mintminty59]

Yeah it seems to be heading that way, I was going to invest in a good rig and build it myself, but its perhaps a little to late in the game now

[starmman]

Yeah it seems to be heading that way, I was going to invest in a good rig and build it myself, but its perhaps a little to late in the game now

You are still not too late - however I think in Magi slow, patient and steady does well - personally I wouldn't buy specialist hardware for Magi mining, IMO you'd be better off buying magi when it his a lower price and trading it.

[The Frisian]

Yeah it seems to be heading that way, I was going to invest in a good rig and build it myself, but its perhaps a little to late in the game now

You are still not too late - however I think in Magi slow, patient and steady does well - personally I wouldn't buy specialist hardware for Magi mining, IMO you'd be better off buying magi when it his a lower price and trading it.

That's right, and then start staking!

[starmman]

Yeah it seems to be heading that way, I was going to invest in a good rig and build it myself, but its perhaps a little to late in the game now

My opinion is that magi is still only just getting started, its a slow burner since shillers can't easily mine a load, and hype the coin - Most people posting on here are not massive holders by the way - A lot of the magi I mined earlier I reluctantly ended up offering up as liquidity during periods when there weren't so many people trading at the time.

[111magic]

http://btc.do/#/

Nice to see more articles coming for Magi

[starmman]

http://btc.do/#/

Nice to see more articles coming for Magi

Awesome - that'll probably push the price up a little - although I was hoping for the price to get down back to around 3500 again to pick a few more up - LOL

[joelao95]

I don't want to be conclusive but one may notice mining with 100kH/s will be a real drop in the ocean ultimately in the general case. For MAGI is like 100kh/s versus 30 ~ 90 Mh/s total network as I observed today. The number would be varying and would be different in another day. But the overall hashrate is definitely under a certain control. I'm not talking every moment but by average. It is nearly impossible that a super rig comes super rewards. Well it's possible when one mines ahead of the rest who are with low hashrate. That's why Knc miner gets into the space, and its story is known to public. Actually I am glad no one want to special hardwares for mining, so Knc miner the like won't be case. But I do encourage increasing hashrate up to some point, and one can use the miner with automatically adjusted hashrate.

We do understand the big hash causes the reduction in the rewards which has been one of the issues causing overall drop of individual rewards, and this is where we try to improve as scheduled on the roadmap. We'll reveal more facts by the time when it's necessary and we can say so. Bear with us.

[starmman]

I don't want to be conclusive but one may notice mining with 100kH/s will be a real drop in the ocean ultimately in the general case. For MAGI is like 100kh/s versus 30 ~ 90 Mh/s total network as I observed today. The number would be varying and would be different in another day. But the overall hashrate is definitely under a certain control. I'm not talking every moment but by average. It is nearly impossible that a super rig comes super rewards. Well it's possible when one mines ahead of the rest who are with low hashrate. That's why Knc miner gets into the space, and its story is known to public. Actually I am glad no one want to special hardwares for mining, so Knc miner the like won't be case. But I do encourage increasing hashrate up to some point, and one can use the miner with automatically adjusted hashrate.

We do understand the big hash causes the reduction in the rewards which has been one of the issues causing overall drop of individual rewards, and this is where we try to improve as scheduled on the roadmap. We'll reveal more facts by the time when it's necessary and we can say so. Bear with us.

Thanks for the information Joe, will be interesting to hear the facts nearer the time =)

[Abiky]

Was nice to pick up a few extra cheap Magi - I had to take a few out of my wallet to offer up on exchanges after the last rise - so hopefully, I'll get my wallet filled again

Yeah. With the massive declines in value that the whole cryptocurrency markets have experienced lately, it makes it the perfect time to buy the dips and get some cheap Magi.

I have the feeling that prices will recover soon, after August 1st, making it a profitable journey for those who have invested earlier into Coin Magi. Given the active development, and community support it has, Magi will be worth much more than what it is right now.

I'm keeping my fingers crossed, expecting to see Magi's price reach $1 and beyond by the end of the year. But while there is the opportunity to buy cheap Magi coins, you should take advantage of it and stake them on your wallet for the long term for even bigger rewards.

By the way, I wanted to showcase my newly designed Magi poker chip. It is made of ceramic, with a size of 39mm, along with some text written on the sides. I'm planning to sell some Magi chips sometime in the future, if there is enough demand for it to help spread awareness and popularity of Coin Magi.

Below, are the pictures of it:










Let me know your thoughts about it!

[Dr.Ragh]

where does https://xmg.maxminers.net/ went?

[111magic]

where does https://xmg.maxminers.net/ went?

Hmm no connection??
Don't know what happend!