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

[111magic]

Another unique idea of Magi XMG.
It looks good for XMG!

[joelao95]

Backed by the popular demand... Coin Magi will be the first few coins listed in the TOP position of Coin Market App along with Bitcoin, Litecoin, Ripple, BitsharesX, NXT, and Peercoin.

Thank you for making the effort to join along the future of how we track information for Coin News and Important Links... this is .. Coin Market App.
We're launching as Public Beta on Google Play in a few hours. Stay tuned and show support at https://bitcointalk.org/index.php?topic=792912

Donate address listed bottom of http://www.CoinMarketApp.com - Show some support for Coin Magi

Coming soon Screenshots (today) on Google Play!

I am excited to hear this news. The app is just amazing.

All community members, please show your supports here: https://bitcointalk.org/index.php?topic=792912. As you can see, there are many requests in the thread; while Magi is only few of coins added to the app at the launch. Please tip coins to support their work:  

Donation BTC address:  1LJLKyEHhNqrwJzZxMvCMjyo3vkCXnkLb5

I am setting up XMG donation: 99Sg2jHMt8quEk72YxPTCpnn3dnQEkZtV6; all XMG donations raised here will be passed over to the CoinMarketApp team.

Thank you!

[joelao95]

http://arxiv.org/abs/1409.7948

Available online now. Although arxiv is an e-prints, it has received paramount attention in the academy:
http://en.wikipedia.org/wiki/ArXiv

Begun on August 14, 1991, arXiv.org passed the half-million article milestone on October 3, 2008.[2][3] By 2012 the submission rate had grown to more than 7,000 per month.[4]

[Bojcha]

nice..

[CoinMarketApp]

The Coin Market App is now live and the first release begins with CoinMagi listed!  

https://play.google.com/store/apps/details?id=coin.market.app.com

[CoinMarketApp]

Backed by the popular demand... Coin Magi will be the first few coins listed in the TOP position of Coin Market App along with Bitcoin, Litecoin, Ripple, BitsharesX, NXT, and Peercoin.

Thank you for making the effort to join along the future of how we track information for Coin News and Important Links... this is .. Coin Market App.
We're launching as Public Beta on Google Play in a few hours. Stay tuned and show support at https://bitcointalk.org/index.php?topic=792912

Donate address listed bottom of http://www.CoinMarketApp.com - Show some support for Coin Magi

Coming soon Screenshots (today) on Google Play!

I am excited to hear this news. The app is just amazing.

All community members, please show your supports here: https://bitcointalk.org/index.php?topic=792912. As you can see, there are many requests in the thread; while Magi is only few of coins added to the app at the launch. Please tip coins to support their work:  

Donation BTC address:  1LJLKyEHhNqrwJzZxMvCMjyo3vkCXnkLb5

I am setting up XMG donation: 99Sg2jHMt8quEk72YxPTCpnn3dnQEkZtV6; all XMG donations raised here will be passed over to the CoinMarketApp team.

Thank you!

Thanks for offering to donate to help support growth of the app. Sam has been a big advocate for Magi about what its doing to help support fair mining for global miners,
and we agree with his judgement.  Get Coin Market App now on Google Play:  https://play.google.com/store/apps/details?id=coin.market.app.com

[SamWalters]

Great idea joel, lets get some donations setup for them.

Good work CoinMarketApp Team, its time to shake it up. I can only imagine once 10K - 20K users are using this app.. Coin Magi will receive constant traffic ! very strong

Backed by the popular demand... Coin Magi will be the first few coins listed in the TOP position of Coin Market App along with Bitcoin, Litecoin, Ripple, BitsharesX, NXT, and Peercoin.

Thank you for making the effort to join along the future of how we track information for Coin News and Important Links... this is .. Coin Market App.
We're launching as Public Beta on Google Play in a few hours. Stay tuned and show support at https://bitcointalk.org/index.php?topic=792912

Donate address listed bottom of http://www.CoinMarketApp.com - Show some support for Coin Magi

Coming soon Screenshots (today) on Google Play!

I am excited to hear this news. The app is just amazing.

All community members, please show your supports here: https://bitcointalk.org/index.php?topic=792912. As you can see, there are many requests in the thread; while Magi is only few of coins added to the app at the launch. Please tip coins to support their work:  

Donation BTC address:  1LJLKyEHhNqrwJzZxMvCMjyo3vkCXnkLb5

I am setting up XMG donation: 99Sg2jHMt8quEk72YxPTCpnn3dnQEkZtV6; all XMG donations raised here will be passed over to the CoinMarketApp team.

Thank you!

Thanks for offering to donate to help support growth of the app. Sam has been a big advocate for Magi about what its doing to help support fair mining for global miners,
and we agree with his judgement.  Get Coin Market App now on Google Play:  https://play.google.com/store/apps/details?id=coin.market.app.com

[SamWalters]

This looks good.. Nice update

[09/28: Releasing MagiPublication, new block rewards explained, statement of future plans]

1. MagiPublication


I've managed our first publication in the academic level, currently submitted to arXiv.org e-prints:

A network-dependent rewarding system: proof-of-mining

Raising up this effort has dual purposes. We've experimented a few new features in Magi in my expectation at this coin going towards a direction never achieved or attempted before. We are kinda researching something and such efforts should be recorded and published if possible. XMG does benefit a lot from either suspect & complaining voices or from positive comments in the thread. With many back and forth discussions, we seem like going toward a solid direction now. If XMG cannot achieve whatever it's supposed to be, subsequent coins might go stepping ahead of us by benefiting from the publications.

I, myself, was working in the research field (credit: RG score more than 29 based on ResearchGate). I like to think and ask. I have been kinda addicted to the cryptocurrency since last Dec, and have thought about a lot over the time. I don't want point out for whatever reason I am doing this, this coin is just on the track, and I am not just joking in making a random coin, but rather seriously take it in the long run. I won't object to the argument of pump and dump (just meaningless wording arguing). If I did wrong the coin, correct me; I am very like to hear different voices. Back to the topic, publishing papers on XMG will obviously place XMG into a more broader audience, just imaging how many people will read the publication.

2. New block rewards explained

We were missing a full description of the new rewarding system, reading: A network-dependent rewarding system: proof-of-mining.


(a) -  our initial design; (b) - the actual implementation in the M7M algo.

Ads. (anyone can get a better ads or image based on this idea, shoot me a PM)

1000 people mining BTC/LTC with their CPU (assume 50Kh/s) only get negligible rewards; however, mining XMG yields 144 coin/day/person.

Current mining situation

Miners should be aware of the current low block rewards (5 XMG/block typically) is because of the overtuning of the rewarding system; that is, we are at III of figure (b), rather than I. This is important; big miners might need to lower their hashrate a little bit, so that the reward will be back to maximum (at I).

Deep explanation

We have explained the rising part in the initial design: the system allocates more rewards to the network having more miners. However, simply increasing reward will drive miners towards building more powerful equipment. The relationship between mining costs and returns in consistence with economics should be the guideline to achieve the goal. We assume this is valid. For example, one who has powerful equipment and hence high cost as well will expect commensurate returns; otherwise, the cost must be reduced by reducing the usage of equipment.

The efficiency of discouraging mining activities is fully determined how fast the rewards decline with difficulty (at the high difficulty range). It should be noted that self-adjustment of network difficulty in accordance with rewards is affected by both the reward declining rate and the market place of the cryptocurrency. One can build up more powerful equipment to compensate the declining rewards. A much faster declining rate will disable any possibility of acquiring desired rewards by simply building more hashing power. Fig. (b) shows an improved rewarding system as implemented in XMG, by incorporating a cut-off function. The maximum block reward is available at Diff = 1.75 (I) (or ∼ 40 MHash/s). The reward is halved when Diff = 2.20 (or ∼ 51 MHash/s) (II), and equals to 1/10 of the maximum value at Diff = 2.37 (or ∼ 55 MHash/s), at which the low rewards will be lack of incentive to the miners.

Does the new rewarding system work?

The short answer is yes. Let's take a look at the pool status before and after the hard fork (new reward):

BEFORE (nonce-pool and suprnova, respectively)


AFTER


Summary

====================	====================	====================
	Network hash ratio	big miner weight (>5 MH/s)
Before (at block=2660)	115 MH/s	47.5 %
After (at block=5682)	83 MH/s	38.4 %
====================	====================	====================

The big miners did have been depressed to a certain level; we will carry out proof-of-mining campaign to help this further.

Proof-of-mining

One may expect the market place will affect the miners’ behavior significantly. For example, the high-pricing reward leads more miners into the network which immediately move the block reward out of the maximum region. This initiates a self-adjustment of the rewarding system. Realizing the marginal rewards (e.g., at III of Fig. (b)), some of the miners start ceasing their minings, thus pushing the reward back to the maximum. In this case, it will be relatively less advantageous for miners quickly in and out the mining activity. One will need to show a proof of mining in order to gain sufficient credits to declare the rewards. The new system emphasizes the participation of miners instead of their hashing power.

Another look - difficulty vs time

It's clear that diff is nearly constant between 09/18 and 09/21, while it declines after 09/21 when hard fork happened.

Currently over 530 active miners.

3. Statement of future plans

We've been on the CPU mining quite a while, while we don't have clear roadmap sorted out yet. I understand people are keen to the anonymous features, market place, or advanced wallet development. I am not sure how important they are, but people should be seeing constant price pumping by updates in these aspects. While I am lack of expertise in these areas, I will be looking at them as possible future development; anyone who can help Mag please contact me. An important area for sure is that we will try to get merchants' adoption as many as possible. We believe this will be the real solid support of the coin. Stay tuned!

Very interesting dev.

My response was a little short for the work the developer has done.
As an addition I think makes this Magicoin XMG truly unique.
As a result, I expect a huge jump XMG will make the altcoinwereld.
Well done dev. I think you may be very proud  at what you do.

[SamWalters]

Whats this about?  is this a course now?  oh right, Magi is now the first PoM !!!

This is really happening!

http://arxiv.org/abs/1409.7948

Available online now. Although arxiv is an e-prints, it has received paramount attention in the academy:
http://en.wikipedia.org/wiki/ArXiv

Begun on August 14, 1991, arXiv.org passed the half-million article milestone on October 3, 2008.[2][3] By 2012 the submission rate had grown to more than 7,000 per month.[4]

[joelao95]

Whats this about?

http://arxiv.org/abs/1409.7948
Available online now. Although arxiv is an e-prints, it has received paramount attention in the academy:
http://en.wikipedia.org/wiki/ArXiv

Begun on August 14, 1991, arXiv.org passed the half-million article milestone on October 3, 2008.[2][3] By 2012 the submission rate had grown to more than 7,000 per month.[4]

This is about the new block reward used in XMG: propose an idea, justify conclusion, something like that; we can say this is a special type of press ..

[joelao95]

Great idea joel, lets get some donations setup for them.

Good work CoinMarketApp Team, its time to shake it up. I can only imagine once 10K - 20K users are using this app.. Coin Magi will receive constant traffic ! very strong

Backed by the popular demand... Coin Magi will be the first few coins listed in the TOP position of Coin Market App along with Bitcoin, Litecoin, Ripple, BitsharesX, NXT, and Peercoin.

Thank you for making the effort to join along the future of how we track information for Coin News and Important Links... this is .. Coin Market App.
We're launching as Public Beta on Google Play in a few hours. Stay tuned and show support at https://bitcointalk.org/index.php?topic=792912

Donate address listed bottom of http://www.CoinMarketApp.com - Show some support for Coin Magi

Coming soon Screenshots (today) on Google Play!

I am excited to hear this news. The app is just amazing.

All community members, please show your supports here: https://bitcointalk.org/index.php?topic=792912. As you can see, there are many requests in the thread; while Magi is only few of coins added to the app at the launch. Please tip coins to support their work:  

Donation BTC address:  1LJLKyEHhNqrwJzZxMvCMjyo3vkCXnkLb5

I am setting up XMG donation: 99Sg2jHMt8quEk72YxPTCpnn3dnQEkZtV6; all XMG donations raised here will be passed over to the CoinMarketApp team.

Thank you!

Thanks for offering to donate to help support growth of the app. Sam has been a big advocate for Magi about what its doing to help support fair mining for global miners,
and we agree with his judgement.  Get Coin Market App now on Google Play:  https://play.google.com/store/apps/details?id=coin.market.app.com

Sam has done a lot help for magi from the beginning. We've got 1st donation, thanks! keep it up.

[111magic]

This is a very good result for Magi XMG. 
XMG placed between Bitcoin, Litecoin, Ripple, Peercoin, BitsharesX and NXT.
Seems that XMG is really going occurred in the top of the altcoinwereld in.
XMG shows to be a uniquely altcoin.
I think there will follow many more good reports for XMG.
Currently, Magi XMG only reached a very small portion of all altcoin lovers.
But reaches increasingly. I am very curious what will happen with XMG if a large part of the world is achieved.
Especially with the developments that are being worked on

[Sy]

[Proof of mining campaign]

We initiated the proof of mining campaign. This campaign will assist us to be cpu coin, and the campaign will compensate your unprofitable miners:

Details:
https://bitcointalk.org/index.php?topic=802681.0

Register there, more coins will giveaway to participants.

**

Benefits of participants

**

1) CPU mining XMG;
2) All participants will receive a share of XMG funds; currently 112,505 + 2,000 XMG are available and the funds are still growing. As an example, totally 100 people participate in this campaign, each person will receive 1145.05 XMG;
3) We decide unswapped coins left to giveaway to participates too; however, we reserve the right how many coins being distributed (very much depending on number of participants), and when these coins are issued (to protect the market).

Joined 

[EmulatorBY]

2) All participants will receive a share of XMG funds; currently 112,505 + 2,000 XMG are available and the funds are still growing. As an example, totally 100 people participate in this campaign, each person will receive 1145.05 XMG;

Where from this xmg 112,505 ?

[111magic]

[Proof of mining campaign]

We initiated the proof of mining campaign. This campaign will assist us to be cpu coin, and the campaign will compensate your unprofitable miners:

Details:
https://bitcointalk.org/index.php?topic=802681.0

Register there, more coins will giveaway to participants.

**

Benefits of participants

**

1) CPU mining XMG;
2) All participants will receive a share of XMG funds; currently 112,505 + 2,000 XMG are available and the funds are still growing. As an example, totally 100 people participate in this campaign, each person will receive 1145.05 XMG;
3) We decide unswapped coins left to giveaway to participates too; however, we reserve the right how many coins being distributed (very much depending on number of participants), and when these coins are issued (to protect the market).

Joined 

Your welcome Sy.

[chaobile]

I 'm not good at English. Only support mining CPU?

[blizzen]

Joined Proof of Mining Campaign too!

[pcs]

I 'm not good at English. Only support mining CPU?

YES ONLY CPU

M7M

[joelao95]

2) All participants will receive a share of XMG funds; currently 112,505 + 2,000 XMG are available and the funds are still growing. As an example, totally 100 people participate in this campaign, each person will receive 1145.05 XMG;

Where from this xmg 112,505 ?

An update was given few days ago:
https://bitcointalk.org/index.php?topic=735170.msg8950501#msg8950501

Swap ratio
(let me know questions you may have regarding the ratio)

According to the total existing Magicoins are 4.5 million, the swap ratio should be 3.6363 Magicoin : 1 XMG. As you can see, we remain a portion of XMG to support the campaign. For this reason, we decide swap ratio: 4 Magicoin : 1 XMG. This yields 112,505 XMG unswapped, available to support proof of mining campaign.

[joelao95]

https://bitcointalk.org/index.php?topic=802681.0

We only have 36 participants so far, we will try to make it reaching milestone 500 cpu miners.