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

[ocminer]

Wat ?!

You don't want high hashrate ?!

Well we can also just put a hardlimit per user on the pools like with RevoCoin, LimiCoin etc..

But how does it makes sense to fork/change algo of the coin as soon as it is accepted and people mining it ?

Thats like you change the recipe of Coca Cola as soon as people like it and drink it

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[Gladimor]

Thats like you change the recipe of Coca Cola as soon as people like it and drink it

Good one! 

[joelao95]

Wat ?!

You don't want high hashrate ?!

Well we can also just put a hardlimit per user on the pools like with RevoCoin, LimiCoin etc..

But how does it makes sense to fork/change algo of the coin as soon as it is accepted and people mining it ?

Thats like you change the recipe of Coca Cola as soon as people like it and drink it

Care attention the possibility of existing GPU miners as people suspected, won't hashing rocketing be sign of gpu? that's most people's concern.

[aloney]

Ok, here is a one parameter, the optimum diff where gets maximum block rewards, which is not designed well at the beginning (basically selected based on M7, obviously we're not on M7 now), since we don't have fist-hand data regarding M7M. Now I think we could tweak this value a little bit to make it fit into the algo and the community much better. That's basically what I am thinking.

as a miner , i really want to get more coins, but i don't think it's a good idea to turn modify that parameter so early , this is not changing a name or a logo of this coin ,if you change that, maybe the price will go down more quickly and no more people comes, don't you think if  people suddenly get rich is not a good thing?? just do more job to make this coin stable, not just ruin it

[ocminer]

Wat ?!

You don't want high hashrate ?!

Well we can also just put a hardlimit per user on the pools like with RevoCoin, LimiCoin etc..

But how does it makes sense to fork/change algo of the coin as soon as it is accepted and people mining it ?

Thats like you change the recipe of Coca Cola as soon as people like it and drink it

Care attention the possibility of existing GPU miners as people suspected, won't hashing rocketing be sign of gpu? that's most people's concern.

Sure but it is impossible to make a 100% gpu proof algo as long as gpu exist

Every algo was on gpu sooner or later...

[joelao95]

Ok guys, I understand your concern, if you are a big cpu miners, just don't put all your hashing power into the coin; more people joining the mining is more desirable than a single person who has most of the power.

[24core]

Ok guys, I understand your concern, if you are a big cpu miners, just don't put all your hashing power into the coin; more people joining the mining is more desirable than a single person who has most of the power.

Let's be clear there are two concerns and these are :-

1) There may be people mining with GPU's and this coin was supposed to be CPU only as per OP.
2) The hash rate is above what the developer / owner wants

[ocminer]

I'm not sure if you want a Coin like Revo/LimiCoin instead of one without a speed limit...

[aloney]

Wat ?!

You don't want high hashrate ?!

Well we can also just put a hardlimit per user on the pools like with RevoCoin, LimiCoin etc..

But how does it makes sense to fork/change algo of the coin as soon as it is accepted and people mining it ?

Thats like you change the recipe of Coca Cola as soon as people like it and drink it

Care attention the possibility of existing GPU miners as people suspected, won't hashing rocketing be sign of gpu? that's most people's concern.

if there's really a GPU miner, i don't think the hashrate just grow 100M, it must be 1G or more , the guys who developed GPU miner could sell it to a big GPU farm, you know that the big GPU farm have more than thousands of cards, maybe there is a GPU miner for this coin, but they just don't use it, why? cause there's no trading volum of this coin,  do you see the buy order in the only exchange? it's only 0.09092916, why would they mine so many coins but don't know how to sell it ?

[joelao95]

Ok guys, I understand your concern, if you are a big cpu miners, just don't put all your hashing power into the coin; more people joining the mining is more desirable than a single person who has most of the power.

Let's be clear there are two concerns and these are :-

1) There may be people mining with GPU's and this coin was supposed to be CPU only as per OP.
2) The hash rate is above what the developer / owner wants

High hash rate is pretty okay to me, but not few persons own most of high hash rate, or gpu miners own these high hash; I guess this is also what people  thinking.

p.s., if there are a gpu miner available, I don't expect many people use that yet.

[Gladimor]

Ok guys, I understand your concern, if you are a big cpu miners, just don't put all your hashing power into the coin; more people joining the mining is more desirable than a single person who has most of the power.

Let's be clear there are two concerns and these are :-

1) There may be people mining with GPU's and this coin was supposed to be CPU only as per OP.
2) The hash rate is above what the developer / owner wants

Just to let you know, there are some pretty powerful CPUs out there. Intel Xeon E5-2690 @ 3GHz has 32 cores, and pumps out a decent hash speed of 0.25 MH/s (250 KH). Put into mind that these are rentable server-grade CPUs, and also consider that people are renting lots of these. If this coin was really GPU mineable, the network hashrate would be somewhere in the 2-3 figures GH.

I heard in IRC that renting out 500 cores worth of AWS instances is like $10/hour. That's a lot of hashrate.

[SamWalters]

Wat ?!

You don't want high hashrate ?!

Well we can also just put a hardlimit per user on the pools like with RevoCoin, LimiCoin etc..

But how does it makes sense to fork/change algo of the coin as soon as it is accepted and people mining it ?

Thats like you change the recipe of Coca Cola as soon as people like it and drink it

Care attention the possibility of existing GPU miners as people suspected, won't hashing rocketing be sign of gpu? that's most people's concern.

Sure but it is impossible to make a 100% gpu proof algo as long as gpu exist

Every algo was on gpu sooner or later...

Except for primecoin?  

Remember the weeks and weeks and weeks of development by the so called 'experts' who never got a GPU miner working after primecoins launch? but they have been working so hard on it and never delivered?  I remember, it was HISTORICAL!  Because .. no one can do it even with huge money on the table.

I think there is only 1 now but that came out 1 year after primecoin launched.. and there is no interest in it as it doesn't work with primecoin mining.

I think Joe is onto something

[SamWalters]

Everyone

Don't forget if you save money mining this coin compared to other coins, might want to hang onto them, and save it for the PoS-II stage.

Just a thought.. lot of build up to come on this coin. It's not like you have heavy electricity bill, lol.. its CPU mining.  The most affordable way to mine.

[aloney]

Ok guys, I understand your concern, if you are a big cpu miners, just don't put all your hashing power into the coin; more people joining the mining is more desirable than a single person who has most of the power.

dev, the problem you think is not a mining problem , it's a economic problem, ppl comes for profit, ppl go away for more profit, maybe you should create a system like PTS, BTSX, ppl just buy the share for profit, not mining,, but i think it's the same thing, ppl pay more fees to rent more efficent CPU , so they should get more profit, it's reasonable. i don't know what do you want , if you really want to help more ppl, you could just give your money to them but not ask them to play a hardwork game, if a man is poor and he don't want to work hard, what would you think? is that man's fault ? or your fault? maybe the only thing we could do is working harder,  as for this coin, maybe we should do more hard work, eg. make more application for this coin and more cooperation with more business, just like the bitcoin did

[pcshared]

I'm working with 60 kh/s
But balance is 0

[aloney]

I'm working with 60 kh/s
But balance is 0

join the pool, http://magi.nonce-pool.com/ or xmg.suprnova.cc
you won't get nothing

[sleepdog]

Which exchange is trading Magi?

[aloney]

Which exchange is trading Magi?

https://cryptoine.com/trade/xmg_btc

[madalieninvader]

Wat ?!

You don't want high hashrate ?!

Well we can also just put a hardlimit per user on the pools like with RevoCoin, LimiCoin etc..

But how does it makes sense to fork/change algo of the coin as soon as it is accepted and people mining it ?

Thats like you change the recipe of Coca Cola as soon as people like it and drink it

Care attention the possibility of existing GPU miners as people suspected, won't hashing rocketing be sign of gpu? that's most people's concern.

Sure but it is impossible to make a 100% gpu proof algo as long as gpu exist

Every algo was on gpu sooner or later...

Except for primecoin?  

Remember the weeks and weeks and weeks of development by the so called 'experts' who never got a GPU miner working after primecoins launch? but they have been working so hard on it and never delivered?  I remember, it was HISTORICAL!  Because .. no one can do it even with huge money on the table.

I think there is only 1 now but that came out 1 year after primecoin launched.. and there is no interest in it as it doesn't work with primecoin mining.

I think Joe is onto something

I thought a primecoin GPU miner was old news. According to this there's a primecoin GPU miner that beats CPU by a factor of 20-25x . https://bitcointalk.org/index.php?topic=548230.0

Last I heard Monero CPU and GPU miner were pretty much even.

[SamWalters]

Ok guys, I understand your concern, if you are a big cpu miners, just don't put all your hashing power into the coin; more people joining the mining is more desirable than a single person who has most of the power.

dev, the problem you think is not a mining problem , it's a economic problem, ppl comes for profit, ppl go away for more profit, maybe you should create a system like PTS, BTSX, ppl just buy the share for profit, not mining,, but i think it's the same thing, ppl pay more fees to rent more efficent CPU , so they should get more profit, it's reasonable. i don't know what do you want , if you really want to help more ppl, you could just give your money to them but not ask them to play a hardwork game, if a man is pool and he don't want to work hard, what would you think? is that man's fault ? or your fault? maybe the only thing we could do is working harder,  as for this coin, maybe we should do more hard work, eg. make more application for this coin and more cooperation with more business, just like the bitcoin did

as far as I understand the dev, he is talking about ensuring the network is secure and on target. I don't think there is anything wrong with this.

Most devs usually kick their feet up (after a launch) and sit back and relax.  The PoS-II is a huge incentive for miners to hang onto their coins because unlike others, when there is a fair advantage in mining, and the community is working on the same pace, once PoS-II kicks in, we can expect more coins for our mining consumption.

I also think you are right about doing more with business. I also mentioned magic shops would work well for this coin if it brought in what 1% of the worlds magicians ? 100k? 200K? That is a bigger and stronger adoption phase than 97% of the alts out there, if this does happen.

Any suggestions guys?