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

[joelao95]

well someone has something working, the massive hash rate jumps can only be explained by 2 reasons. if its gpu what exactly will the dev do?

I am kinda thinking because of pool mining, some big miners jump in, though it would be costly to them, that can be possible; surprised this happens today, such a coincidence!

If there are really gpu miners, my quick thinking:

Keep the block reward low enough, no point for gpu miners stick to here, well all cpu miners have the same situation too

Planing a new algo fork steps in at a future block, with a more "complicated" handling of functions etc; if gpu is on the current algo, same thing could happen too unless mining goes fast

Or this may sound very weird, but if you think this option has any chance, with a closed source, no one will know coding gpu then, mining a period with major coins minted, then open source and PoS-II stage; it is sure then all miners have to trust the dev.

Any suggestions?

Another option, we can cut off rewards when network hash goes above 100MH; no one wants to mine without any rewards; only people in this coin will consistently mine and get paid.

[1714012523]

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[1714012523]

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[1714012523]

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[aloney]

well someone has something working, the massive hash rate jumps can only be explained by 2 reasons. if its gpu what exactly will the dev do?

I am kinda thinking because of pool mining, some big miners jump in, though it would be costly to them, that can be possible; surprised this happens today, such a coincidence!

If there are really gpu miners, my quick thinking:

Keep the block reward low enough, no point for gpu miners stick to here, well all cpu miners have the same situation too

Planing a new algo fork steps in at a future block, with a more "complicated" handling of functions etc; if gpu is on the current algo, same thing could happen too unless mining goes fast

Or this may sound very weird, but if you think this option has any chance, with a closed source, no one will know coding gpu then, mining a period with major coins minted, then open source and PoS-II stage; it is sure then all miners have to trust the dev.

Any suggestions?

Another option, we can cut off rewards when network hash goes above 100MH; no one wants to mine without any rewards; only people in this coin will consistently mine and get paid.

i'm sure this is not a good idea

maybe it's not a good idea of changing the reward in production stage

Issue will be many coins to be mined in the future, which may be mostly mined by GPU by that time, unless GPU is proven to be impossible/inefficient. Another concern is the coin swap, although we can manage to carrier out coin swap much slower than mining.

consider these two factor, maybe it's better to adjust reward, i've no idea, you should ask more people's suggestion

[joelao95]

well someone has something working, the massive hash rate jumps can only be explained by 2 reasons. if its gpu what exactly will the dev do?

I am kinda thinking because of pool mining, some big miners jump in, though it would be costly to them, that can be possible; surprised this happens today, such a coincidence!

If there are really gpu miners, my quick thinking:

Keep the block reward low enough, no point for gpu miners stick to here, well all cpu miners have the same situation too

Planing a new algo fork steps in at a future block, with a more "complicated" handling of functions etc; if gpu is on the current algo, same thing could happen too unless mining goes fast

Or this may sound very weird, but if you think this option has any chance, with a closed source, no one will know coding gpu then, mining a period with major coins minted, then open source and PoS-II stage; it is sure then all miners have to trust the dev.

Any suggestions?

Another option, we can cut off rewards when network hash goes above 100MH; no one wants to mine without any rewards; only people in this coin will consistently mine and get paid.

i'm sure this is not a good idea

The prior proposed approaches are to discourage GPU miners, as we suspect they exist in the network (not 100% sure though).

[MarcusDe]

Goldmin.es, is the pool you have online? I'm trying to connect with a stratum proxy but just getting a timeout. Using stratum+tcp://goldmin.es:9874

Come on, goldmin.es is a joke now :-P
I was able to connect thru proxy, miner was even getting work, but it didn't show on pool's workers page.

I wonder there is hidden GPU mine out there.

goldmin.es is not a joke. why do you say that? i left magi on my pool for testing purposes, so that the cpuminer could be compiled faster. ill fix my pool right now, and in the mean time remove it from being an option.

think twice before you type.

edit: his pool graymines only has 2 coin options, only one works, and its a 5 percent fee. rofl.

Why I say that? You left non working crap for people to waste time and call it "for testing purposes" now.
Are you politician or something? lol.
And thanks for free comercial, both my pools are working, and have ati miner for coins called 'cpu-only-for-ever' ;-)

btw, didn't you think for changing name to shitmine.es? ;-P

Anyway, I don't wont to offend you mate, make pool working and lets mine :-)))

[aloney]

in my opinion, why ppl dare not to buy this coin, the main factor is they don't know what's rate for the swap, the only thing we know is there are  1.125 million XMG will be used for swap, this is a big number compare to the mined XMG, most ppl don't know what's the total number of old coins,and i found the price of old coin is very low in swisscex.com with no trading volume,so let smart guys give some suggestion

[Hix]

I think "block rewards" working very well, and no problem if 1-st phase will take more time than 1-2 month. Only 1 problem, privat gpu miner(Someone can make it) and this can help us...

but if you think this option has any chance, with a closed source, no one will know coding gpu then, mining a period with major coins minted, then open source and PoS-II stage; it is sure then all miners have to trust the dev.

+
swap must be delay minimum until end of 1-st phase PoW stage.  

[SamWalters]

MarcusDe

Goldmin.es worked effortlessly with all other pools (in a joint effort) to make a pool possible.

He gave the community the first working test pool by his numerous attempts of coding the algo into the pool - Even ocminer himself was testing on his pool, and many others with stratum proxy. As far as I know, you come here and put him down, and you didn't even show up to help.

Goldmin.es is alright in my book, and he has been beyond helpful in his attempt, and we appreciate him here.  

I am not a fan of negative influence, and I don't think you like negativity either. It is not necessary to conduct arguments unrelated to the Magi.

Take it in a private message or somewhere else. Not here.

[joelao95]

I think "block rewards" working very well, and no problem if 1-st phase will take more time than 1-2 month. Only 1 problem, privat gpu miner(Someone can make it) and this can help us...

but if you think this option has any chance, with a closed source, no one will know coding gpu then, mining a period with major coins minted, then open source and PoS-II stage; it is sure then all miners have to trust the dev.

+
swap must be delay minimum until end of 1-st phase PoW stage.  

I will push this option, if more people agree with that; giving out at least 5 million (vote for the number) coins during this stage. And sure we can postpone the swap till then (edit, we may option to ask opinions of prior holders for the fariness), but we will need community to donate us in order to perform project tasks.

[joelao95]

MarcusDe

Goldmin.es worked effortlessly with all other pools (in a joint effort) to make a pool possible.

He gave the community the first working test pool by his numerous attempts of coding the algo into the pool - Even ocminer himself was testing on his pool, and many others with stratum proxy. As far as I know, you come here and put him down, and you didn't even show up to help.

Goldmin.es is alright in my book, and he has been beyond helpful in his attempt, and we appreciate him here.  

I am not a fan of negative influence, and I don't think you like negativity either. It is not necessary to conduct arguments unrelated to the Magi.

Take it in a private message or somewhere else. Not here.

I am with you, Goldmin.es sent me few messages about pool, he did a lot help on this coin, and even he is at 1st day of our launch making the pool to work.

[aloney]

dev, need more exange

[SamWalters]

I will push this option, if more people agree with that; giving out at least 5 million (vote for the number) coins during this stage. And sure we can postpone the swap till then (edit, we may option to ask opinions of prior holders for the fariness), but we will need community to donate us in order to perform project tasks.

I think the two communities at large (XMG and Magic) need to help towards the growth of the coin.

Yes, mining is good to support the network, and yes, we all benefit fairly. However, in my opinion, I see that money can be required ahead in order to bring in investors, more miners, and adopters to participate in the future of magi, not only to offer liquidity, but also to have those spreading the awareness, building developments on top of magi, opening up shops or stores, etc.. they need to be involved in the growth of both communities - those people need our support.

Getting a coin listed on exchanges won't have tremendous impact without liquidity. With proper liquidity, miners can easily and beneficially redeem their coins when they want to, possibly with its rarity value still continued. I know majority of the miners in this coin keep talking about its difficulty to earn, making magi still a very rare coin, therefore, holding up its value is going to be its strong selling point to investors.

I think donations are important as long as there is a detailed break down of where those funds will go (generally) but not held accountable as a donation is a donation. We all know the dev and the team have been at this for over 6 months now, and helping both communities, old coin and now this coin. I really see the need to donate in this project.

I'm actually very happy to be apart of this movement.

[SamWalters]

well someone has something working, the massive hash rate jumps can only be explained by 2 reasons. if its gpu what exactly will the dev do?

I am kinda thinking because of pool mining, some big miners jump in, though it would be costly to them, that can be possible; surprised this happens today, such a coincidence!

If there are really gpu miners, my quick thinking:

Keep the block reward low enough, no point for gpu miners stick to here, well all cpu miners have the same situation too

Planing a new algo fork steps in at a future block, with a more "complicated" handling of functions etc; if gpu is on the current algo, same thing could happen too unless mining goes fast

Or this may sound very weird, but if you think this option has any chance, with a closed source, no one will know coding gpu then, mining a period with major coins minted, then open source and PoS-II stage; it is sure then all miners have to trust the dev.

Any suggestions?

Another option, we can cut off rewards when network hash goes above 100MH; no one wants to mine without any rewards; only people in this coin will consistently mine and get paid.

+1000000

Huge plus to this. The dev protects the network and puts benefits back to the community.

[SamWalters]

Mining stats

"blocks" : 1118,
"currentblocksize" : 1607,
"currentblocktx" : 2,
"difficulty" : {
"proof-of-work" : 3.16953551,
"proof-of-stake" : 0.00024414,
"search-interval" : 1
},
"blockvalue" : 56,
"netmhashps" : 69.10178353,
"netstakeweight" : 0.00000000,
"errors" : "",
"pooledtx" : 2,
"stakeweight" : {
"minimum" : 317,
"maximum" : 0,
"combined" : 317
},
"stakeinterest" : 0.00000031,
"testnet" : false,
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"networkhashps" : 66662565,
"testnet" : false
}

[wyj1888]

lost



15:25:17

{
"blocks" : 1120,
"currentblocksize" : 1918,
"currentblocktx" : 4,
"difficulty" : {
"proof-of-work" : 1.17705695,
"proof-of-stake" : 0.00024414,
"search-interval" : 1
},
"blockvalue" : 21,
"netmhashps" : 25.27710560,
"netstakeweight" : 0.00000000,
"errors" : "",
"pooledtx" : 4,
"stakeweight" : {
"minimum" : 4,
"maximum" : 0,
"combined" : 4
},
"stakeinterest" : 0.00000031,
"testnet" : false,
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"networkhashps" : 25479883,
"testnet" : false
}

[schmelix]

The suprnova pool hashrate is crazy!

"netmhashps" : 48.25287641
Pool Hash Rate    43,261.406 KH/s


About 90% of the net hashrate and almost all blocks mined by the pool

[opossum]

Block reward should be 500 at present difficulty?
There must be GPU miner on suprnova 10,264 kh/s

[TrippyPippy]

Hi All,

Any exchanges list XMG yet ?

If not who should we be pushing to list it ?

Regards

[schmelix]

Block reward should be 500 at present difficulty?
There must be GPU miner on suprnova 10,264 kh/s

I guess it makes no sense. The top 10 guys with the crazy hashrates will still earn 90% of the coins

[111magic]

well someone has something working, the massive hash rate jumps can only be explained by 2 reasons. if its gpu what exactly will the dev do?

I am kinda thinking because of pool mining, some big miners jump in, though it would be costly to them, that can be possible; surprised this happens today, such a coincidence!

If there are really gpu miners, my quick thinking:

Keep the block reward low enough, no point for gpu miners stick to here, well all cpu miners have the same situation too

Planing a new algo fork steps in at a future block, with a more "complicated" handling of functions etc; if gpu is on the current algo, same thing could happen too unless mining goes fast

Or this may sound very weird, but if you think this option has any chance, with a closed source, no one will know coding gpu then, mining a period with major coins minted, then open source and PoS-II stage; it is sure then all miners have to trust the dev.

Any suggestions?

Another option, we can cut off rewards when network hash goes above 100MH; no one wants to mine without any rewards; only people in this coin will consistently mine and get paid.

+1000000

Huge plus to this. The dev protects the network and puts benefits back to the community.

Joe, think these are good decisions.

[SamWalters]

Who has tested out different thread levels with VPS pool mining?

-t 4
-t 8
-t 12