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

[joelao95]

New POS-II maybe better than pos- I, when will launch?

I am sorting out things; will announce the plan soon (apologize for many times of saying "soon").

[111magic]

You are transparent with what you're doing.
Developing a unique coin is more difficult than a standard coin.
We look forward to your next post and thanks for the information

[itod]

An interesting thing about M7 is the use of multiplication of hashes. The multiplication is done by using GMP which allows arbitrary precision, only limited by available memory of the machine. This makes me thinking of an interesting feature to add into XMG: we can repeat many times of multiplications which literally increase the memory needed; the memory relies on the repeating times. This repeat is not just to get a pointless dataset to 'eat' memory, instead these 'huge' numbers are hashed by sha256 as the final. One of the consequence is that we can make GPU miner hard to be implemented. So it will be like tending to be a CPU coin, but I don't see any unlikely of GPU miners in the future. Another consequence is it could be memory hard (that also means not energy efficient by mining with GPU, efficiency will depend on the multiplication times), so the CPU/GPU mining could have a higher efficiency ratio compared to the pure M7, though it remains to be confirmed. It will also be possible to use varying multiplication times with time/block height etc to make GPU even harder. I am open to suggestions.

Making the coin CPU only may have it's great advantages. Look at the PrimeCoin how successful it was for a long time, the moment GPU miner was released the coin price went to ashes. People like a fair chance to mine with what they got, and many don't have a fancy GPU cards. PrimeCoin wasn't a PoS coin like Magi, if the PoW phase of the Magi is ended before the GPU miner is produced it may drive the interest and price of the coin high, no other coin has done that.

[111magic]

Good advice! Very nice to see that the Magicoin community thinks and helps to give Magicoin a good and long future.

[Ivanech]

Making the coin CPU only may have it's great advantages.

Indeed, but I know a private GPU miner exist for M7 algo.

[joelao95]

An interesting thing about M7 is the use of multiplication of hashes. The multiplication is done by using GMP which allows arbitrary precision, only limited by available memory of the machine. This makes me thinking of an interesting feature to add into XMG: we can repeat many times of multiplications which literally increase the memory needed; the memory relies on the repeating times. This repeat is not just to get a pointless dataset to 'eat' memory, instead these 'huge' numbers are hashed by sha256 as the final. One of the consequence is that we can make GPU miner hard to be implemented. So it will be like tending to be a CPU coin, but I don't see any unlikely of GPU miners in the future. Another consequence is it could be memory hard (that also means not energy efficient by mining with GPU, efficiency will depend on the multiplication times), so the CPU/GPU mining could have a higher efficiency ratio compared to the pure M7, though it remains to be confirmed. It will also be possible to use varying multiplication times with time/block height etc to make GPU even harder. I am open to suggestions.

Making the coin CPU only may have it's great advantages. Look at the PrimeCoin how successful it was for a long time, the moment GPU miner was released the coin price went to ashes. People like a fair chance to mine with what they got, and many don't have a fancy GPU cards. PrimeCoin wasn't a PoS coin like Magi, if the PoW phase of the Magi is ended before the GPU miner is produced it may drive the interest and price of the coin high, no other coin has done that.

Thanks for inputs itod. Now I see another advantage with the CPU coin. Magi will have most of coins to be mined firstly (depending on the diff to ensure fair distribution), and then long-term mining period with much less reward (GPU won't matter much if out in this period). I think we can go this direction.

[joelao95]

Making the coin CPU only may have it's great advantages.

Indeed, but I know a private GPU miner exist for M7 algo.

Is that AMD miner?

[joelao95]

A quick update: the estimate launch date will be around September 11, I will give detail information on Sunday.

[111magic]

Yes !!! Good news dev !!! 
I can hardly wait.

[enerbyte]

Making the coin CPU only may have it's great advantages.

Indeed, but I know a private GPU miner exist for M7 algo.

Is that AMD miner?

Claymore is working in AMD GPU miner for M7

I had to stop development for two days I will try to release the miner this weekend, though I already see several optimizations that would take more time.

[Ivanech]

A quick update: the estimate launch date will be around September 11, I will give detail information on Sunday.

Good news.

Will be sources available at this date to be able to maintain public mining pool?

[111magic]

I think so!

[111magic]

New translation: Swedish (by blacksails) https://bitcointalk.org/index.php?topic=771526.0

[joelao95]

A quick update: the estimate launch date will be around September 11, I will give detail information on Sunday.

Good news.

Will be sources available at this date to be able to maintain public mining pool?

Yes, the source code will be available at the launch.

[111magic]

New: Turkish translation (by Professor James Moriarty) https://bitcointalk.org/index.php?topic=771373.0
We have Magicoin thread now in many different languages​​.
In this way, more readers from Bitcointalk can read the Magicoin thread in their own language.
We do our best to achieve even more translations.

[111magic]

Follow Magicoin (XMG) on Twitter.
Coin of the Magi
@CoinMagi

[baby222]

Follow Magicoin (XMG) on Twitter.
Coin of the Magi
@CoinMagi

在twitter上关注Magicoin (XMG)
Coin of the Magi
@CoinMagi

[baby222]

New: Turkish translation (by Professor James Moriarty) https://bitcointalk.org/index.php?topic=771373.0
We have Magicoin thread now in many different languages​​.
In this way, more readers from Bitcointalk can read the Magicoin thread in their own language.
We do our best to achieve even more translations.

消息: 土耳其翻译 (翻译自 Professor James Moriarty) https://bitcointalk.org/index.php?topic=771373.0
现在我们已经有了多种语言的Magicoin线程.
通过这种方式，更多的人能够通过自己的母语来了解我们的硬币.
我们会尽可能的实现更多语种的翻译.

[111magic]

New: Turkish translation (by Professor James Moriarty) https://bitcointalk.org/index.php?topic=771373.0
We have Magicoin thread now in many different languages​​.
In this way, more readers from Bitcointalk can read the Magicoin thread in their own language.
We do our best to achieve even more translations.

消息: 土耳其翻译 (翻译自 Professor James Moriarty) https://bitcointalk.org/index.php?topic=771373.0
现在我们已经有了多种语言的Magicoin线程.
通过这种方式，更多的人能够通过自己的母语来了解我们的硬币.
我们会尽可能的实现更多语种的翻译.

Thank you for your help Baby222. 
For me it is very difficult to keep the Chinese Magicoin thread informed. The translation computer often makes mistakes.

[lionheart78]

New: Turkish translation (by Professor James Moriarty) https://bitcointalk.org/index.php?topic=771373.0
We have Magicoin thread now in many different languages​​.
In this way, more readers from Bitcointalk can read the Magicoin thread in their own language.
We do our best to achieve even more translations.

消息: 土耳其翻译 (翻译自 Professor James Moriarty) https://bitcointalk.org/index.php?topic=771373.0
现在我们已经有了多种语言的Magicoin线程.
通过这种方式，更多的人能够通过自己的母语来了解我们的硬币.
我们会尽可能的实现更多语种的翻译.

Thank you for your help Baby222.  
For me it is very difficult to keep the Chinese Magicoin thread informed. The translation computer often makes mistakes.

^^, great to see you really are taking care of ths thread 111magic XD; anyway will try to help with spreading words about the incoming launch and of the coin ^^