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

[PeteAugustus]

any chance for an electrum-type wallet?

how hard is it to get this done? the electrum guys can help!

[1714144494]

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[JimmyTaylor]

Spexx provided estimation of the CPU performance by looking up a specific CPU in https://www.cpubenchmark.net/cpu_list.php; then divide "Passmark CPU Mark figure" by 1000 and multiply by 3.6, which comes to a number in hash rate. 2 kh/s is a bit strange, are they running in same conditions, no other programs hanging around?...

thx, it's an AMD Athlon 64 X2 Dual Core 5600+, so according the calculation it should make 5.2 Khs. But since it's my everyday puter it's always multitasking. Now it's making more like 3.3 Khs (multiplying by 2 what I get in the autominer, since it's two threads), so I guess that's fine.

Nice I heard the new i7s are amazing for mining any ideas?

[joelao95]

any chance for an electrum-type wallet?

how hard is it to get this done? the electrum guys can help!

It won't be hard I think, as XMG has the similar code to other coins; but unlikely for me to look into this right now before I'm done other stuffs.

[joelao95]

Magi forum:

http://www.m-talk.org/

We will build our community there, more information to be filled into the space later on.

[ex33s]

Magi forum:

http://www.m-talk.org/

We will build our community there, more information to be filled into the space later on.

Nice! Good work and much needed!

[SamWalters]

Sorry for the nooby post... but if i compiled the wallet and transferred the coins over Will they eventually stake by themselves? or do i need to do something special like "unlock PoS"?

Thanks and good luck guys the project seems awesome.

what steps did you take?

Others are very helpful here, so don't be afraid to ask some questions.

This community has some things to do before we enter into the new era of crypto users.

Magi forum:

http://www.m-talk.org/

We will build our community there, more information to be filled into the space later on.

Great start joe lao! By the way, you are listed as the Top Coin Devs in the industry!! Sunny King + Joe Lao = Success in Crypto!

[SamWalters]

RE-BUMP this post from earlier because it had some great content to follow along with. I think the timeline is extremely relative to the success its headed on, and how it expands the industry.

What does that mean? More miners, more adoption, and better reward benefits that payout fairly.

Great idea on the timeline. The one I created needs to be graphically updated. I'll use your updates in it.

[MagiTeam & roadmap & plans]







Here something has happened /gonna happen.


1) So far I liked the XMG implementation and what's been happening; myself had a lot time spent on the basic stuffs. Speaking of a coin/cryptocurrency, obviously we need far more than that. But speaking of a coin/cryptocurrency, we do need strong fundamentals. I am not pretty getting the idea why a coin should be mined only 7 days with GPU / ASIC and then fully relies on PoS, do you? This is where I see interesting in XMG. The M7M algo (v1 & v2) just sits there well; I couldn't imagine there goes on tons of numerical/floats computations in addition to hash in order to maintain the public ledger in this system. The floats computation like the M7M algo appears to be a mess regarding the calculation, but just going well. M7M is never a beauty of perfect ago, but it works as far as we can see, along with many other adjustments.


2) MagiNeXT:

i) First and most importantly, we'll put reasonable amount of efforts into the coin itself as done in the past.

ii) There are numerous stuffs we can talk to reach out Magi services, but we'd focus on a few features as the targets which shall be done in the near future. The primary goal is to implement real stuffs to get XMG used in our life; this not only gives XMG a life but also us a life.

# Simplifying using Tor/PoS, something like turning it on and leave it; ideas are developing and being in progress; we'll be able to talk more once almost there.

# Marketplace; this is far more than interesting, but will get community to participate together.

# Payment gateway system; it's pretty easy to be done by getting into service like coinpayments. Addition to that I've been in touch by the 3rd party about developing a payment gateway system; I am lack of idea when I am typing, but thought this might be something we should develop. Surely we need to think about the necessity and some further more before getting going. Any ideas are appreciated.

# I guess a few above points are 'big' plans. Some tech stuffs are covered in the "Timeline". These are never a complete list. We need to sort out our own features while I must agree all coins including bitcoin should head towards the same direction. Please suggest what features XMG should take/focus. If you want discussion, head to this thread:

https://bitcointalk.org/index.php?topic=848731.0


3) MagiTeam: something community should be aware of:

111magic has been working with me pretty a while (this reminds months back when he was using his laptop to mine coins); I am pretty impressed by his passion on XMG; it appears he will keep doing XMG stuffs, if you have questions but can't find me or get reply from me, shoot him a PM.

SamWalters has many awesome ideas from which I have educated myself. One thing for sure is that you can always get positive energy by reading his posts. SamWalters will be our think tank & marketing expert; if you have an idea, let's get it to him.

ex33s is currently running services including dice game and paper wallet; ex33s will be in support of the coming marketplace site and adviser of many more other services currently in progress. I'm quite impressive by his constant tagging me over IRC, of course, his dice game at the beginning, but he is very good at stuffs more than that, for example, web apps.

I would like to welcome jawitech as our new team member. jawitech will act as "think-tank" (I've been already benefited a lot from him), replying to your questions and together with others be responsible for the marketing. You may already see jawitech's active posts, feel free to PM him whenever you have questions.

Basically that's all we announce at this moment, but we actually have more people working on XMG; when time comes and they are willing to be public, we will certainly give more information.

I & the team can merely do part of jobs, however, the constant growth of a coin needs efforts from the whole community. We're here open to all of you, for any one of you has ideas/comments or you're experienced on something on which we are lack of attention, do not hesitate to let us know. We do have sizeable funds hanging there for contributors, but we do welcome people to work together as like a team.

[Gazza1]

hey what does an overclocked 3770k bring in daily?

From a stock i7-3770 running on ubuntu i'm getting around 35 kh/s when only running the miner, with running other apps i'm getting 28-30 kh/s

What does this equate to in cash flow?  I've been out of the game a while, but I saw on twitter guys saying this coin is very profitable to mine, but unless I'm looking at this wrong it seems like we are talking about pennies here.  Anyone?

[MaxDZ8]

What does this equate to in cash flow?  I've been out of the game a while, but I saw on twitter guys saying this coin is very profitable to mine, but unless I'm looking at this wrong it seems like we are talking about pennies here.  Anyone?

Very legit question as far as I am concerned. I've been looking at miningrentals and imagining how little those guys must pay for electricity to be profitable.

[111magic]

In the beginning it will often be small amounts. The further Magi (XMG) will grow, the greater the probability that the value will also be higher. Especially if it continues this way! BTW Welcome in the great Magi (XMG) community!

[joelao95]

This made me a day. I am absolutely on blue. Have fun ..

Random thinking ..

It's intriguing to me that miners grow steadily; well I hate to talk about the profitability. To be frank it's unprofitable at all at this moment. I'd rather not exercise stale statements, e.g., price speculation, to argue with the mining, but well this might be the truth particularly if some big fish are in the pool. It's nowhere something wrong for one to invest huge amount of mining facilities, but speaking of the ROI with delusion of 100 times rising in price might be the reason, uh? Either way, this is not gonna any good. The whole mining business has been on the basis of speculation despite proved or not; in contrast to that, one should keep track of a profitability calculator; mining is not really a business though. It's not just a joke any more regarding those people who mine bitcoins in 2009 or spending bucks to buy, rather this is pretty smart investment any beings will say.

It's pretty uncertain at some point that people get into this wild world and still stick to something. We are not advocating the moral while cryptocoins are supposed to do something moral for example making people free from the control of retarded government. There have already been historical facts that tons of coins fit into history, that absolutely contrasts with the intention of bitcoin or any other kinds.

People like new stuffs, literally most of things. Excitement goes away over the time. What makes you think bitcoin still worth of mining/buying, having a trust on that, uh? What makes thinking magi might be/not be trash or something uhuh ? There is always coming a hope, that, whatever, no matter people buy at low or high. It's purely people's hope or something like that.

But I'd tell you minding the hash rate is the way to go; plugging out some hash will get us more rewards, am I joking? It's purely anti-natural in fact if one is able to do more, why doesn't he do that? Remember, we could literally generate as low as 1440 XMG per day, with a right hash we can get 24,000 XMG; funny, right? It seems big fish comes around no matter how low the reward it is. I'd ask what if we make null rewards, and what makes people stick to that? for example, when time comes with bitcoin block rewards becoming trivial; a hope, or just for fun?

Decentralization is a fun ..

It's not fun at all that people tend to enhance their mining facilities and keep trying gaining as many coins as possible. You don't need to worry much when you mine at 1 CPU core in nowadays' computer/laptop. However, when you can invest 2 cores, why not then? Having hundred CPU running is pretty for sure a concern to some body. We seem at a point that, regardless of whatever, things always tend to be directional towards the way in people's nature. It's a land ideal that people limit their capabilities in the thing unless they don't like that. So shall we make something they don't like? If I tell you mining XMG is null at some point, would you mine it all for fun?

I am talking like an idealist; mostly I'd to admit that! Just for fun ..

[Bojcha]

I see you crossed over byc.

[111magic]

Good words Sam!

RE-BUMP this post from earlier because it had some great content to follow along with. I think the timeline is extremely relative to the success its headed on, and how it expands the industry.

What does that mean? More miners, more adoption, and better reward benefits that payout fairly.

Great idea on the timeline. The one I created needs to be graphically updated. I'll use your updates in it.

[MagiTeam & roadmap & plans]







Here something has happened /gonna happen.


1) So far I liked the XMG implementation and what's been happening; myself had a lot time spent on the basic stuffs. Speaking of a coin/cryptocurrency, obviously we need far more than that. But speaking of a coin/cryptocurrency, we do need strong fundamentals. I am not pretty getting the idea why a coin should be mined only 7 days with GPU / ASIC and then fully relies on PoS, do you? This is where I see interesting in XMG. The M7M algo (v1 & v2) just sits there well; I couldn't imagine there goes on tons of numerical/floats computations in addition to hash in order to maintain the public ledger in this system. The floats computation like the M7M algo appears to be a mess regarding the calculation, but just going well. M7M is never a beauty of perfect ago, but it works as far as we can see, along with many other adjustments.


2) MagiNeXT:

i) First and most importantly, we'll put reasonable amount of efforts into the coin itself as done in the past.

ii) There are numerous stuffs we can talk to reach out Magi services, but we'd focus on a few features as the targets which shall be done in the near future. The primary goal is to implement real stuffs to get XMG used in our life; this not only gives XMG a life but also us a life.

# Simplifying using Tor/PoS, something like turning it on and leave it; ideas are developing and being in progress; we'll be able to talk more once almost there.

# Marketplace; this is far more than interesting, but will get community to participate together.

# Payment gateway system; it's pretty easy to be done by getting into service like coinpayments. Addition to that I've been in touch by the 3rd party about developing a payment gateway system; I am lack of idea when I am typing, but thought this might be something we should develop. Surely we need to think about the necessity and some further more before getting going. Any ideas are appreciated.

# I guess a few above points are 'big' plans. Some tech stuffs are covered in the "Timeline". These are never a complete list. We need to sort out our own features while I must agree all coins including bitcoin should head towards the same direction. Please suggest what features XMG should take/focus. If you want discussion, head to this thread:

https://bitcointalk.org/index.php?topic=848731.0


3) MagiTeam: something community should be aware of:

111magic has been working with me pretty a while (this reminds months back when he was using his laptop to mine coins); I am pretty impressed by his passion on XMG; it appears he will keep doing XMG stuffs, if you have questions but can't find me or get reply from me, shoot him a PM.

SamWalters has many awesome ideas from which I have educated myself. One thing for sure is that you can always get positive energy by reading his posts. SamWalters will be our think tank & marketing expert; if you have an idea, let's get it to him.

ex33s is currently running services including dice game and paper wallet; ex33s will be in support of the coming marketplace site and adviser of many more other services currently in progress. I'm quite impressive by his constant tagging me over IRC, of course, his dice game at the beginning, but he is very good at stuffs more than that, for example, web apps.

I would like to welcome jawitech as our new team member. jawitech will act as "think-tank" (I've been already benefited a lot from him), replying to your questions and together with others be responsible for the marketing. You may already see jawitech's active posts, feel free to PM him whenever you have questions.

Basically that's all we announce at this moment, but we actually have more people working on XMG; when time comes and they are willing to be public, we will certainly give more information.

I & the team can merely do part of jobs, however, the constant growth of a coin needs efforts from the whole community. We're here open to all of you, for any one of you has ideas/comments or you're experienced on something on which we are lack of attention, do not hesitate to let us know. We do have sizeable funds hanging there for contributors, but we do welcome people to work together as like a team.

[leathan]

Sorry for the nooby post... but if i compiled the wallet and transferred the coins over Will they eventually stake by themselves? or do i need to do something special like "unlock PoS"?

Thanks and good luck guys the project seems awesome.

Just unlock your wallet only for staking.
 

I had to do this for HYP and i clicked on the top and there was an option to unlock, but i do not see this option for XMG.. sorry if thats nooby i did look at the top menus. maybe a screenie?

Also, I am voting right now for XMG =) and again good luck to u all! seems awesome!

[111magic]

Sorry for the nooby post... but if i compiled the wallet and transferred the coins over Will they eventually stake by themselves? or do i need to do something special like "unlock PoS"?

Thanks and good luck guys the project seems awesome.

Just unlock your wallet only for staking.
 

I had to do this for HYP and i clicked on the top and there was an option to unlock, but i do not see this option for XMG.. sorry if thats nooby i did look at the top menus. maybe a screenie?

Also, I am voting right now for XMG =) and again good luck to u all! seems awesome!

Here is a screenie! http://imgur.com/VlpU1Kx
Just click on unlock!
Than you see on the left "for staking only"
If not check if you use the right wallet version!
Good luck!

[wakhidNkcom]

seems joe have great team  cool uhuh great dev! anyway yeah you're right joe mayber for now we not see profit in here.. but what we're expect is cpu-only will be great future since asic is around  back to past when first cpu-only come out.. maybe some day (not really with day maybe) people will see value of XMG, see how much you got with 1 MH? will people sell that just for 0,00005-0,00006? uhuh just people with (no brain) will do that. XMG moment will coming soon because as far i see the best cpu-only coin just XMG from now (not see from profit calculate but i see from how dev it self guine people how to mine it and keep it as cpu-only.)


and absolutely always CMIIW (Correct Me If I'm Wrong)

[joelao95]

Sorry for the nooby post... but if i compiled the wallet and transferred the coins over Will they eventually stake by themselves? or do i need to do something special like "unlock PoS"?

Thanks and good luck guys the project seems awesome.

Just unlock your wallet only for staking.
 

I had to do this for HYP and i clicked on the top and there was an option to unlock, but i do not see this option for XMG.. sorry if thats nooby i did look at the top menus. maybe a screenie?

Also, I am voting right now for XMG =) and again good luck to u all! seems awesome!

If you don't set a password for the wallet, then "Unlock" won't show up, and the wallet is always in staking mode.

[ex33s]

hey what does an overclocked 3770k bring in daily?

From a stock i7-3770 running on ubuntu i'm getting around 35 kh/s when only running the miner, with running other apps i'm getting 28-30 kh/s

What does this equate to in cash flow?  I've been out of the game a while, but I saw on twitter guys saying this coin is very profitable to mine, but unless I'm looking at this wrong it seems like we are talking about pennies here.  Anyone?

I haven't done the math for this.

I'm using 4 cores to mine with, leaving 4 for my everyday use. With the variation in block reward it's hard to say exact how many xmg i'm getting per day on this system, but around 1-3 xmg. So let's say 2 xmg per day.
With the latest sell on bittrex (When i'm writing this post) was 0.00006000, so 0.00006000 * 2 = 0.00012 BTC per day * 30 (Average days per month) = 0.0036 BTC per month. Current BTC price is $360 witch gives us $1.296 per month. This is just a rough calculation and trading fees and wallet staking not included.

Code:

2 XMG * 0.00006000 BTC per XMG = 0.00012 BTC
0.00012 BTC * 30 Days =  0.0036 BTC per month
0.0036 BTC * $0.0036 = $1.296

I think the current value of XMG is very undervalued and believe this is going to raise over time with the growth of XMG. So mining for selling straight away is not profitable for me. I am investing in xmg with mining on my usually unused processing power. So here's my thoughts - Mining for profit in the short time period then it is not worth it, Mining as an investment then it is worth it.

And I'm mining XMG as an investment for the future!

[111magic]

Well said Ex33s!

[Teaspoon]

Hello, i follow this coin for quite some time now, i follow some more but so far magi is one of the best and strongest available, and i really like the concept of cpu mining, think this is the only fair way for distribution coins in my opinion.
i buy some xmg and the are warm and nicely in my wallet as investment.
Want to start mining with my laptop but i'm really a nope is there a video fragment so i can check it out to learn how to do it.
Hope someone can help my out.