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

[abraxsis]

so all the coins transferred after the hacked blocks will be reversed, correct?

That's what a hard fork does?

yeah and all the people who sold at the peak will get their coins back and will keep the btc as well...
duh...

ps: if this happens, xmg will probably get delisted considering bittrex would have to reimburse (or screw their users)
ps2: I am astonished by the amount of bs, I read on this thread...

oh so the guy who mined future blocks and made thousands of xmg will just keep his coins then. duh...no problem with that, right? let's just pretend it never happened.

I am also astonished by the amount of bs I read here sometimes.

So you want them to revert a month's worth of trading??? Sure, thats a great way to get delisted from every major exchange.

[sabercrypto]

why does the price go down? somebody is dumping

[bgm]

why does the price go down? somebody is dumping

Price goes down so I can buy back what I sold lol

[bgm]

You never want to miss the trip to the next universe so always keep a few coins on hand just for that.

[joelao95]

m-wallet version v1.4.5.1

Hard fork will take place at block #1606950. See below for the details of hard fork.

Qt-Wallet and Daemon:

https://github.com/magi-project/magi/releases
http://m-core.org/download/
http://m-core.org/bin/m-wallet-1.4.5.1/

Source code: https://github.com/magi-project/magi/

Windows: http://m-core.org/bin/m-wallet-1.4.5.1/m-wallet-1.4.5.1-win.zip
Linux: http://m-core.org/bin/m-wallet-1.4.5.1/m-wallet-1.4.5.1-linux.tar.gz
Mac OS X: http://m-core.org/bin/m-wallet-1.4.5.1/m-wallet-1.4.5.1-osx.dmg
FreeBSD: http://m-core.org/bin/m-wallet-1.4.5.1/m-wallet-1.4.5.1-freebsd.tar.gz

Block chain: http://m-core.org/bin/block-chain/

v1.4.5.1
=============
This release schedules a hard fork at block #1606950 as a solution to the current mining issue that miners cannot mine blocks:

- The PoW / PoS block generation rule is disabled.

- Difficulty adjustment algo switches back to MQW at #1606948.

- Block drift time is limited within 5 min.

- Remove IRC and add DNS seeds.

Quick guide:

- Windows: unpack the files and run the wallet directly;
- Mac OS: unpack the files and copy to the Application folder, and then run the wallet directly;
- Linux: unpack the files and run the wallet directly.

Quick startup I (without touching the block-chain):

0) Backup wallet.dat;
1) Launch the new wallet.

Quick startup II (replacing the block-chain):

0) Backup wallet.dat;
1) Download block-chain data from here: http://m-core.org/bin/block-chain;
2) Delete all of the contents under the .magi (unix-like system) or Magi (OS X or Windows) folder, except for wallet.dat and magi.conf;
3) Unzip the file and copy the folders under "m-block-chain" into the .magi (unix-like system) or Magi (OS X or Windows) folder;
4) Launch the new wallet.

Note to v1.4.5.1
---------------------
v1.4.5.1 is compatible with the current block chain.

Things explained..

Firstly, I admit what's going on isn't good to the situation, and I do see there are needs of further works to fulfill the purpose of the coin.

There is no rollback. I learned few requests about actions on the miners who mined (future) blocks that the generic miners can't mine, and for that, rollback is one of the approaches. However, taking into account the overall situation that time to time transactions are involved, especially exchanges, there will be more damage to the coin when we cease the chain or perform a rollback.

As explained shortly in previous post, what happens is associated with the PoW / PoS rule in combination with the fact that 2-hour future blocks allowed as in the original design. I do see in this rule weakness because of the PoW block generation capable of being on a 10-min pattern without the PoS blocks. The another feature of MAGI's network that is intentionally kept at low hash rate comes a likability that one with a reasonable amount hash can launch a future block attack, the chance of this is increased by a fact that generic users can't make valid blocks owing to the PoW / PoS rule; these blocks are supposed to reset the block time.

By overviewing the situation, I see there is a difficulty in maintaining low-hash rate network, as individuals can always acquire big hash rate. In contrast, advantage lies in a network with huge amount of hash that individuals can't compete with. Nevertheless, it's not our intention to compromise the purpose because of the weakness. The PoS is supposed to dilute such weakness; I'm seeing the merit of the PoW / PoS rule when used beautifully. We shall make efforts on this aspect.

Let us know any questions / suggestions.

[joelao95]

A side note, good to see unexpected price move; my personal opinion - be smart trading.

[guytechie]

I'm still not sure what constitutes as over-mining.

Am I over-mining if I have a Threadripper 1950X, 4770K, 4650K, and a few Core 2 Duos and Pentium G CPUs on zPool?

Should I split them up to different pools instead?

Can I try my hand on solo mining?  Better to proxy them or let them do it individually (even the slow miners such as Core2 Duos and Pentium G)?

While I understand this was done to deter botnets, it really puts some concerns for people who has lots of spare resources (not botnet, just 10-20 PCs).

FYI - GPU mining rigs with low-powered CPUs (want' to use the CPUs for m7m mining).  More powerful cpus are production machines (my gaming PC, my media center PC, and my test PC), but since they're not being used allthe time, I want to use them to mine while I'm not actively using them.

In total, I can produce 1.2 - 1.5 MH/s

Too much?

Yes it is too much. Magi block rewards are difficulty dependant.

As far as I understand mPoW it is not competitive more like co-operative. Miners should be focusing on keeping the total network hash rate at a certain range to maximize mining rewards. This means adding/removing hash rate collectively when its needed.

Read this carefully: https://bitcointalk.org/index.php?topic=735170.msg9991269#msg9991269

If anyone finds any error in what i wrote please feel free to correct me.

Gogo magi!!

Thanks for the link.  If I read this correctly, it's the entire network hashrate, not the pool or the individual.  Also, if I read correctly, the optimal network hashrate is 22 MH/s.

Interesting way to self-regulate.  It sounds like Magi mining is perfect for background mining with only a couple threads.  It's kind of... laid back or chill kind of coin, lol.  I guess you won't make much, but that's intentional.

[bgm]

"Alright lets do this. Leeeeeeeeeroy Jenkins!" At least I got update. lol

[abraxsis]

I just finished transferring my wallet contents to bittrex and set my sell order at ... 22,000 sats in anticipation of a possible new pump. If not I don't lose anything, but at least I am hopeful.

[starmman]

I just finished transferring my wallet contents to bittrex and set my sell order at ... 22,000 sats in anticipation of a possible new pump. If not I don't lose anything, but at least I am hopeful.

Good luck =) Would be great to see Magi hit 22k again

[starmman]

Great to see the new wallet out - I've updated the reddit forum accordingly - looking forward to mining PoS again =)

[jiyef002]

m-wallet version v1.4.5.1

Is there an update for the miner as well? Or only the wallet needed the upgrade?

If I understand correctly, the fork has not yet happened? When is the block #1606950 supposed to come?

Thanks

[starmman]

m-wallet version v1.4.5.1

Is there an update for the miner as well? Or only the wallet needed the upgrade?

If I understand correctly, the fork has not yet happened? When is the block #1606950 supposed to come?

Thanks

If you are mining on a pool then you don't need to update anything - just wait for the pool to be on the next version.

There is always the possibility of some orphaned blocks before a hard fork, so there is always the change that some mined coins were not actually incorporated into the chain.

[HODL_guy]

I'm very happy to see great price dynamic on Bittrex! I know XMG has got a really nice community, this community deserves some profits!

[soltecjo]

una ayuda que pool esta utilizando para magi

raaayooossssss    lllega rápido la cantidad pero no la confirmaciones jejeej  diosss bueno tocara esperar
[/quote]

[The Frisian]

Charts indicate that XMG has bottomed and has now started its reversal upwards. Began about 15 min ago.

Which charts? Tell me, please.

[Captmario]

So can we start mining now or when is the hard fork landing?

PS, is there any mining profitability calculator available?

[andrew2221]

Hi everyone. When will the official pom.m-hash.com pool be updated to the new codebase, so we can start mining again?

[Historical]

Hi everyone. When will the official pom.m-hash.com pool be updated to the new codebase, so we can start mining again?

After fork

[111magic]

Waking up and seeing Volume on Bittrex... Wow!

From 20 BTC to 1600 BTC in 1 Day. Whales have jumped in. Looking at the order books Sell walls have been placed to keep prices low. They're accumulating.

When the walls drop expect the big pop in price. Next 24-72 Hours... XMG one to watch.

Cheers!

Strato

Its awesome to see the community is growing. Volume on Bittrex looks like new record for Magi. Lets see what will happen during the coming days.

hey Magic,

I´m still here as i´m here from the beginning of this magi(c) coin

gr xms

He XMS almost missed your message here. Hardly could keep up all messages on Magi's social channels.
Good to see you here.