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

[hankrules]

It seems like the swap should be done sooner, rather than later.  If this thing picks up steam, and the price rises very much, the influx of so many coins on the market could kill the value/interest/coin very quickly.

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[JoaoBaptista]

I dont understand the block reward, 5?

Read OP (very top and magiupdates):

09/21: How does the new block rewarding system look like: fist look; misc (IRC): https://bitcointalk.org/index.php?topic=735170.msg8919460#msg8919460

If you watch a few blocks, you will notice reward jumping around, sometimes > 100.

Hi Joe,

so who gets a block reward of over 100? Single miners? Should we then single mine to get a bigger reward when eventually we find a block?

Cheers

[echo00114]

hello
the dev idea not working! the magi net hash rate 276,228.66 KH/s  and diff 12.12274662 so big miners also working all block only 5 xmg .

i found 2 block my i5 proc. and reward 5 xmg. i think single miners no worth mining   

[5m4ru]

hello
the dev idea not working! the magi net hash rate 276,228.66 KH/s  and diff 12.12274662 so big miners also working all block only 5 xmg .

i found 2 block my i5 proc. and reward 5 xmg. i think single miners no worth mining   

u solo mining or pool ? how long time u find 2 blok ?

[Sy]

That's what i meant, they don't really care and just reduce the block reward to 5 XMG, making it more scarce - why should they stop?

[echo00114]

hello
the dev idea not working! the magi net hash rate 276,228.66 KH/s  and diff 12.12274662 so big miners also working all block only 5 xmg .

i found 2 block my i5 proc. and reward 5 xmg. i think single miners no worth mining   

u solo mining or pool ? how long time u find 2 blok ?

i mining xmg.suprnova.cc  this pool

i mining from the coin start, first solo minig nothing found and when realased stratum miner i move the pool.

[echo00114]

That's what i meant, they don't really care and just reduce the block reward to 5 XMG, making it more scarce - why should they stop?

hello sorry my world but 5 xmg woth of nothing . all cost higher electricity and isp cost etc. and i dont think the xmg going very high price but i hope i am not right.

bye

[111magic]

Also guys, I posted on coinmarketcap thread: https://bitcointalk.org/index.php?topic=199685.msg8935037#msg8935037

I think we have a strong enough community to show our support for magi. What do you all think?

In the mean time, twitter is making and shaking it seems like.

I think it woud be very good to get XMG on that app.
Let's go for it.

[nrg_wolf]

That's what i meant, they don't really care and just reduce the block reward to 5 XMG, making it more scarce - why should they stop?

hello sorry my world but 5 xmg woth of nothing . all cost higher electricity and isp cost etc. and i dont think the xmg going very high price but i hope i am not right.

bye

i tend to agree, 312khs and i get 3.33 xmg a day or there abouts, not even really worth haveing online, but i cbf switching my miners off lol. i just hope that the rareness of the coins starts to reflect alittle in the price otherwise iam wasting precious power lol.

[loonb]

Do not forget that there are people who already have x0.000 of magi. its so dissapointing. but idea is interesting a little, if we could mine like that from launch.

[MarcusDe]

Have patience, price will go up.
Reward change is also good for people who mine from launch of coin.

[nrg_wolf]

Do not forget that there are people who already have x0.000 of magi. its so dissapointing. but idea is interesting a little, if we could mine like that from launch.

i was lucky to get in as soon as a pool opened, have made a whole 375 since then..........

[billotronic]

Have patience, price will go up.
Reward change is also good for people who mine from launch of coin.

Actually, It probably wont. Changing the block reward has only hurt 'normal' miners. The net hashrate is most likely made up of mining on free electricity who do not care about the block reward. Coincidentally, these people also tend not to care about the coin as they dump on the market.

[joelao95]

The issue with lage block reward I have is big miners' dumping once we get into a decent exchange. I view this coin a long term rather than short term. Please take time to get free VPS or whatever you can contribute to net hash.

[Bojcha]

Dont get me wrong, this is all bad.

From coin start there was problems.
From launch there was no pools and miners ready, meaning, those individual miners like me was mining nothing first 24 hours at supposed low diff.

Now also nothing to mine by those same "individual miners". - Thing are actually worse.

[sleepdog]

Some quick mining benchmarks:

On a machinewith 2 x Xeon E5620, 16 threads. Same .bat for each.

Testz compiled v1.1 : 80 Kh/s
DeMarcus v0921 generic : 89 Kh/s
Spexx : 42 Hh/s

Something weird is happening with Spexx's version. If I run another instance simultaneously it picks up to a combined total of ~70 Kh/s.

Take westmere version on 2 x Xeon E5620. I have same machine and it runs without problems there.

http://graymines.net/miners/magi/

Westmere version is 2 or Kh/s slower than generic version. This holds true on all the Xeons (all at least 3 or 4 years old) I've tried it on.

[joelao95]

Please take a look at the Money Supply so far; also guess you don't know big miners complained a lot at the launch too about the block rewards, cause they can't solo mine blocks too. Issues start with pool mining more or less, network hashrate rocketing up, big miners coming into the nethash, people again complained.

Anyway, what do you guys suggest to me?

[billotronic]

Please take a look at the Money Supply so far; also guess you don't know big miners complained a lot at the launch too about the block rewards, cause they can't solo mine blocks too. Issues start with pool mining more or less, network hashrate rocketing up, big miners coming into the nethash, people again complained.

Anyway, what do you guys suggest to me?

Pick a path and stay with it.

"You can please some of the people all of the time, you can please all of the people some of the time, but you can't please all of the people all of the time."

[24core]

Please take a look at the Money Supply so far; also guess you don't know big miners complained a lot at the launch too about the block rewards, cause they can't solo mine blocks too. Issues start with pool mining more or less, network hashrate rocketing up, big miners coming into the nethash, people again complained.

Anyway, what do you guys suggest to me?

Pick a path and stay with it.

"You can please some of the people all of the time, you can please all of the people some of the time, but you can't please all of the people all of the time."

The problem with virtual mining is that you can easily convert one big rig into many small miners.  This makes it difficult to create a tiered and fair mining approach.  The whole mining ecosystem is never going to be fair and hence you may have to be radical.

Let’s discuss the current state to understand our target state.

Would I be correct in assuming the majority of mining hash rate is in pools?  

[joelao95]

ok, billotronic, that's nice suggestions anyway, we'll stay with the current block rewards, at least we're still safe and have time to come up with something. We may change to 'large block rewards' once we see that won't give us big troubles.

In the meantime, we need to get rolling, requests to coinmarketcap submitted, being in touch with few exchanges, with a main focus on bittrex, and many more coming up.