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

[Myth888]

I am trying to sync but I keep stalling out on block 132605

download the blockchain before you sync to make it easier and follow joe's guide to connect only to his node,

Well, that was easy... will be completely in sync in a few minutes.
Thank you!

glad i could help you bro. happy staking

[andreiv26]

i'm reciving a lot of unconfirmed...no acepted stakes... similar to your image, but i'don't know why?

If you don't receive good stakes anymore, you're forked.

you're forked = you're f***ed

[akuci]

They are misunderstand economics. Low hashrate => more coins =>less price. High hashrate => less coins =>more price. Finally, here is no $ difference, high hashrate or low. But they really think price will be the same after high hashrate will be banned. Yes, we can ban, but after down net hashrate from 60MH to 6 MH XMG price will go down from 0.00005 to 0.000005. Nearsighted communism.

What are you talking about? There will be around 30-40MH after limitations too, not 6MH for sure. I'am not for 300 limit, but under 1000, and strict botnet\multiple account control. This coin have unique algo, so the rules must be unique. I know crypto is no rules, but if you want it to be a payment processor, you must have some rules, and insure people that noone will come with some crazy idea to gain huge amount of coins and crash your network, or missuse it. Do you like the block rewards in the past 6-7 hours? I'm sure you like it. So let it be always that good. There will always be smaller and bigger miners. Not everyone will be near 1000, so you will be earning a nice amount event with a 1000 limit becuase of high block rewards. I think 1000 is fair for everyone, or let the devs and the Magi team decide. I don't have anything against big miners, just don't ruin this coin because you want fast profit.

[bulala]

this is getting better and better..wow intersting

[Flapmin]

ban hash rate  ? Why not the mine another m7m coin for awhile

[pmsk]

They are misunderstand economics. Low hashrate => more coins =>less price. High hashrate => less coins =>more price. Finally, here is no $ difference, high hashrate or low. But they really think price will be the same after high hashrate will be banned. Yes, we can ban, but after down net hashrate from 60MH to 6 MH XMG price will go down from 0.00005 to 0.000005. Nearsighted communism.

What are you talking about? There will be around 30-40MH after limitations too, not 6MH for sure. I'am not for 300 limit, but under 1000, and strict botnet\multiple account control. This coin have unique algo, so the rules must be unique. I know crypto is no rules, but if you want it to be a payment processor, you must have some rules, and insure people that noone will come with some crazy idea to gain huge amount of coins and crash your network, or missuse it. Do you like the block rewards in the past 6-7 hours? I'm sure you like it. So let it be always that good. There will always be smaller and bigger miners. Not everyone will be near 1000, so you will be earning a nice amount event with a 1000 limit becuase of high block rewards. I think 1000 is fair for everyone, or let the devs and the Magi team decide. I don't have anything against big miners, just don't ruin this coin because you want fast profit.

As oxotnuk (?) previously said, you cannt create mineable coin and ask people do not mine. Now you talk about 1000 kh, tomorrow miners create tens accounts on different pools and you'll said 1000 is too much and 500 is acceptable limit, next day - 300, next day - 150, etc. You will ban for IP - miners rent hundreds microinstances @Amazon for socks proxies. You'll limit block per minute - big miners simply occupy Magi and small miners get nothing. Administrative limits is not a solution, it's a witch-hunt.

Anyway, big miners are not idiots and will not mine less profitable coin. As you can see, here is week after fix, and max hashrate is about 30-60 MH (was 90 three weeks ago). It's normal - miners try botnets, see result and stop mining Magi. It is a only one way to stop big miners. I absolutely misunderstand dramatics last three days. We have algo, we know about reward mechanism. After time botnet owners will understand - it's more profitable to mine Magi with 1MH than 10MH or maybe even dont mine.

[deztroyr1]

Another good idea:

Can we not change the rewards algo so that there is a zero block reward possible?

This would chase away the high hashraters and botnets becuase if it exceeds that which would drop the coin below 2 XMG block reward then the block reward drops ALL THE WAY to zero reward until the pool and/or global hash rates drop.

this is a bad idea and not a good idea 

i've said it before... people are selfish. nobody will drop their own hashrate for ur cause unless the zero block only applies to themselves.

i agree with oxothuk:

Any administrative methods like create trust pools, ban ip`s etc  will not work and do more problem than helps. And it is against cryptocoin paradigm, nobody include developers should not regulate anything.

He does seem to have a good idea:

2) Remove reward limit and reward everyone with fixed value in block (like other coins does)

[Flapmin]

soo ive been trying to keep it quiet people . but your still having the same arguments ... this is an amazing algo . it is Superior in almost every way. the problem is greed . why min a coin to the point of killing the payout ... I finished hashing a fresh merk root and gen block.   indeed flappy is swapping to m7m 

[Flapmin]

Another good idea:

Can we not change the rewards algo so that there is a zero block reward possible?

This would chase away the high hashraters and botnets becuase if it exceeds that which would drop the coin below 2 XMG block reward then the block reward drops ALL THE WAY to zero reward until the pool and/or global hash rates drop.

this is a bad idea and not a good idea 

i've said it before... people are selfish. nobody will drop their own hashrate for ur cause unless the zero block only applies to themselves.

i agree with oxothuk:

Any administrative methods like create trust pools, ban ip`s etc  will not work and do more problem than helps. And it is against cryptocoin paradigm, nobody include developers should not regulate anything.

He does seem to have a good idea:

2) Remove reward limit and reward everyone with fixed value in block (like other coins does)

if you remove the reward limit it will be just like other coins .....why do tht just mine something else . am i the only one who understands the dynamic here .... price goes up hash goes up reward dwindles .... dump avoided .... seriously . why would you remove this innovation

[Flapmin]

Another good idea:
...

I'd agree to a certain extent.

been following your commits ... bravo sir/mam/dev
flappycoin will be swapping to m7m ... its not been easy
Ill be re ... removing some of the code i had to change to get it
to hash out a proper genesis block before pushing the source
were in the artwork phase now. Not only are we happy to have
a solid algo and plan to finalize the flappcoin recovery
but we are hopefull that this will spread out a bit of the hash
that has been hindering Magi were not a pump and dump
team this swap has been a year in the making
flappy will be swapping the chain from 10billion FLAP
down to 10 million FLAPS deflapation and we for one
welcome the payout structure ..AS IS fu%$ the botnet

[chronosphere]

... then worry about fair mining rewards/botnet/massive hashrates, then worry about how to deal with pools dominating the network hashrate and refusing to act against miners with large hashrates.

Really there is only one way to fight agains big hashrates and botnets.   It is do coin not interesting.

It possible in two ways,  
1) Make coin not interested,  just do not profitable.. or lower than competitors
2) Remove reward limit and reward everyone with fixed value in block (like other coins does)

Any administrative methods like create trust pools, ban ip`s etc  will not work and do more problem than helps. And it is against cryptocoin paradigm, nobody include developers should not regulate anything.

>>> I still say the problem would be addressed if there was a minimum block reward threshold of zero, that is triggered by input of minimum block reward due to hashrate.  I.e. if block reward of a pool falls below 10 XMG, for example, then block reward drops to zero until hash returns to reasonable levels, meanwhile any hackers doing a DDOS attempt on the pool should be IP logged and arrested if within a country that has laws against DDOS in a harmful manner to a server not owned by the hacker. 

[oxothuk]

>>> I still say the problem would be addressed if there was a minimum block reward threshold of zero, that is triggered by input of minimum block reward due to hashrate.  I.e. if block reward of a pool falls below 10 XMG, for example, then block reward drops to zero until hash returns to reasonable levels, meanwhile any hackers doing a DDOS attempt on the pool should be IP logged and arrested if within a country that has laws against DDOS in a harmful manner to a server not owned by the hacker.  

>> returns to reasonable levels,

What is reasonable? Any constant in net algorithm work until not a lot people interested in this.
Forget for a second about botnets and hackers..    
For example, now algo limited by  20Mh/s  and it is work, coins become more popular, and now we have 40Mh/s fair solo miners.. And then what?  Admins decide change 20 to 40?  
And where this decentralisation? If only one man can easily decide change revenue for everyone.
Such manual manipulations is path to drop price or delist coin from markets.


>>DDOS attempt
What are you speak about, we didn`t speak about ddos or other hack attack..   For example, I or someone else  have  10000 remote devices, each is not strong enough (50-100Kh/s for example) and have different IP.
I can do attack do coin reward, I push required power to make revenue near zero and then wait until others stop mining..  then I start optimal power and get most of coins, until others not back.
And when they back - I start  from begining.  
It will work not because I doctor-evil and want to beat all this beautiful community... no...  just because it can be profitable, more profitable than other coins.

[Myth888]

The variable reward system is what makes this coin Magi coin. It is what makes the coins unique.

Some people are thinking that we could implement controls on pools. Yes we could but it would be for naught. Reason? With a little coding knowledge i could setup a pool with minimal effort. Well i dont really know how to code but i could pay someone to make just modify a already existing pool code i could grab for free online.

Hard coding it on the node will work much better but again nodes are also open source one could simply compile a clean one without the hard coded limits.

Banning ips or will not work either since botnets have different hashrates. rentals also same problem. Different ips for all.

I head bitcoin cash implemented an emergency protocol where after several hrs if they cant find this number of blocks difficulty is adjusted to 20% of the current difficulty. Maybe we can use this and implement a sudden payout reduction or increase instead of the normal slow adjustments when hash increases too much or decreases too much. But then if people wants to attack the coins they can simply hash high and remove it to keep reward low.

It is hard to really do anything. If it was possible to make it a solo only coin that would probably work out a bit better but not perfect as well.

[Myth888]

... then worry about fair mining rewards/botnet/massive hashrates, then worry about how to deal with pools dominating the network hashrate and refusing to act against miners with large hashrates.

Really there is only one way to fight agains big hashrates and botnets.   It is do coin not interesting.

It possible in two ways,  
1) Make coin not interested,  just do not profitable.. or lower than competitors
2) Remove reward limit and reward everyone with fixed value in block (like other coins does)

Any administrative methods like create trust pools, ban ip`s etc  will not work and do more problem than helps. And it is against cryptocoin paradigm, nobody include developers should not regulate anything.

>>> I still say the problem would be addressed if there was a minimum block reward threshold of zero, that is triggered by input of minimum block reward due to hashrate.  I.e. if block reward of a pool falls below 10 XMG, for example, then block reward drops to zero until hash returns to reasonable levels, meanwhile any hackers doing a DDOS attempt on the pool should be IP logged and arrested if within a country that has laws against DDOS in a harmful manner to a server not owned by the hacker. 

that high hashrate i dont think it is a DDOS attack. Probably a botnet with its own pool or rental with its own bot monitoring the blockchain or other pools and only activating when rewards are high. Otherwise they would mine on other chains which can take higher hash rates without affecting rewards as much. The only way to prevent this is making them not earn much when they suddenly jump in for a quick pump and dump mining.

[Flapmin]

>>> I still say the problem would be addressed if there was a minimum block reward threshold of zero, that is triggered by input of minimum block reward due to hashrate.  I.e. if block reward of a pool falls below 10 XMG, for example, then block reward drops to zero until hash returns to reasonable levels, meanwhile any hackers doing a DDOS attempt on the pool should be IP logged and arrested if within a country that has laws against DDOS in a harmful manner to a server not owned by the hacker.  

>> returns to reasonable levels,

What is reasonable? Any constant in net algorithm work until not a lot people interested in this.
Forget for a second about botnets and hackers..    
For example, now algo limited by  20Mh/s  and it is work, coins become more popular, and now we have 40Mh/s fair solo miners.. And then what?  Admins decide change 20 to 40?  
And where this decentralisation? If only one man can easily decide change revenue for everyone.
Such manual manipulations is path to drop price or delist coin from markets.


>>DDOS attempt
What are you speak about, we didn`t speak about ddos or other hack attack..   For example, I or someone else  have  10000 remote devices, each is not strong enough (50-100Kh/s for example) and have different IP.
I can do attack do coin reward, I push required power to make revenue near zero and then wait until others stop mining..  then I start optimal power and get most of coins, until others not back.
And when they back - I start  from begining.  
It will work not because I doctor-evil and want to beat all this beautiful community... no...  just because it can be profitable, more profitable than other coins.

pumping the hash to knock miners interest has been the normal for a long time
this coin has no multipool if im mining magi on my cpu means im dedicated to mining  
im not even going to notice the hashrate on the network since i have no alternative
coins to mine on the same algo it matters absolutely not from moment to moment
at the end of the week if i check on my payouts and they suck i may decided to cpu mine
something else ... but not likely . the dedicated miner is just going to mine regardless of
the payout ... no one is mining up 1000s of magi to dump its a set it and forget it .
ive not looked into the entire story so maybe im missing something... the complaint is the
difficulty is to high and the reward is almost zero? if so in my very humble opinion good
a coin that fights back ... a complaint of mininers driving up the difficulty and then hopping
is no new story ... i really dont see the problem but i am ready to be corrected  

[Flapmin]

... then worry about fair mining rewards/botnet/massive hashrates, then worry about how to deal with pools dominating the network hashrate and refusing to act against miners with large hashrates.

Really there is only one way to fight agains big hashrates and botnets.   It is do coin not interesting.

It possible in two ways,  
1) Make coin not interested,  just do not profitable.. or lower than competitors
2) Remove reward limit and reward everyone with fixed value in block (like other coins does)

Any administrative methods like create trust pools, ban ip`s etc  will not work and do more problem than helps. And it is against cryptocoin paradigm, nobody include developers should not regulate anything.

>>> I still say the problem would be addressed if there was a minimum block reward threshold of zero, that is triggered by input of minimum block reward due to hashrate.  I.e. if block reward of a pool falls below 10 XMG, for example, then block reward drops to zero until hash returns to reasonable levels, meanwhile any hackers doing a DDOS attempt on the pool should be IP logged and arrested if within a country that has laws against DDOS in a harmful manner to a server not owned by the hacker. 

 do you mean pool admins limiting per ip?

[Flapmin]

The variable reward system is what makes this coin Magi coin. It is what makes the coins unique.

Some people are thinking that we could implement controls on pools. Yes we could but it would be for naught. Reason? With a little coding knowledge i could setup a pool with minimal effort. Well i dont really know how to code but i could pay someone to make just modify a already existing pool code i could grab for free online.

Hard coding it on the node will work much better but again nodes are also open source one could simply compile a clean one without the hard coded limits.

Banning ips or will not work either since botnets have different hashrates. rentals also same problem. Different ips for all.

I head bitcoin cash implemented an emergency protocol where after several hrs if they cant find this number of blocks difficulty is adjusted to 20% of the current difficulty. Maybe we can use this and implement a sudden payout reduction or increase instead of the normal slow adjustments when hash increases too much or decreases too much. But then if people wants to attack the coins they can simply hash high and remove it to keep reward low.

It is hard to really do anything. If it was possible to make it a solo only coin that would probably work out a bit better but not perfect as well.

 that all sounds good untill you look at the code its already very complicated because there are
variables based on additional variables ...hmmm

[kamarul.jutawan]

i have the latest wallet 1.4.3.0 , but it wont update blocks even i updated the conf file

listen=1
connect=104.128.225.215

daemon=1
server=1
rpcport=8232
rpcallowip=127.0.0.1
rpcuser=user
rpcpassword=x


the blocks remains at 1453068. its been 2 days and not updating not even 1 block. anything i did wrong?

thank you

[deztroyr1]

a block reward of zero simply isn't going to solve anything.
WHO is going to quit mining? the big miners or the small miners? nobody knows.
if i leave my miners running unattended and don't care about whether they are mining or not, then that already decides that in no case at all, i would even cut on my hashrate.

having that said, YOU or someone else is going to have to cut on ur hashrate. maybe ur hashrate is a lot more reasonable than mine. but i'm not quitting anyway cuz i simply don't care.

tell me. what did you solve?
ppl gonna be annoyed and ditch this coin for pulling things like that.

[akuci]

Who will ditch it? Botnets, wanna be millionaires? Who even cares about them? Then rename coin to Botnetfasprofit Coin.
I just try to make a coin more fair for everyone, if most of the community like mining almost nothing meanwhile some dude with like 20k MH is grabbing all of the already small rewards, then ok, I have no problem with it. I really don't wanna fight with the majority of the community... but for now I see that minority is almost bullying the majority, and even after so many pages they don't understand that if they limit their hash, they will be earning more, and the rest of the power they can route to some other coin and earn there some plus profit. I know, not everyone is mining here to support the coin, there are people who just want to make money, but they go with brute force instead of going smart.

Let's say you have like 5k, because 20k is extreme. You put 1k in Magi, really small number of miners have 1k even, and the other 4k in Bytecoin for example. You said that you don't care about profit, then do it that way. You will be earning much more Magi with 1k then 5k.