CPU Mining turns fair for individual miners ** Anti-BotNet-Fuxors **

[SamWalters]

Find out how CoinMagi's new Algo M7M kills Large Mining Farms and Botnets

- PROOF OF MINING Campaign: https://bitcointalk.org/index.php?topic=802681
- Official [XMG] Magi Announcement thread: https://bitcointalk.org/index.php?topic=735170.0
- Released in https://play.google.com/store/apps/details?id=coin.market.app.com
- Trading at  https://cryptoine.com/trade/xmg_btc

Have you started mining? Solo or Pool? Some people say Pool is the best, as the community is working together.
I've had better luck on pool mining, I prefer suprnova check the thread for the link. Official thread: https://bitcointalk.org/index.php?topic=735170

Previews of the video (images are clickable) to watch the video...





Official thread: https://bitcointalk.org/index.php?topic=735170

LATEST NEWS:

MANDATORY UPDATE REQUIRED ALL WALLETS!

[hardfork] - sorry we have a few hardforks to be done and all gonna happen soon

1. M7M-v2 (hardfork on 10/26/2014 9:30:00 AM EST)

A switchover of the mining algorithm to M7M-v2 will occur on 10/26/2014 9:30:00 AM EST. Details about M7M-v2 can be found here: https://bitcointalk.org/index.php?topic=735170.msg9230961#msg9230961. The expected hashrate using the new algo is 2.545 times less than that with the prior algo. To continue with mining, download the new minerd (we will add download links here and in the OP soon), and follow the pool mining guide.

Be sure that you are using the new wallet v1.1.0.1 too.

2. Block rewarding system (hard fork at block 32,750)

A change in the block rewarding system is needed. This won't change the block rewards, but to be better to comply with the change of hashrate due to the M7M-v2 algo. The new algo leads to less network hashrate; the new block rewards will have maximum value at diff = 0.68 (for low block height); according to hashrate = diff * 2^32/180, that is about 16 Mh/s. We have also made increasing maximum diff with block height, to allow more people mining later on, e.g., optimum hashrate of 27 Mh/s which produces 300XMG at block 40,000.

3. A new difficulty adjustment method - Magi quantum wave (MQW) (hard fork at block 33,500)

Superficially a name here: Magi quantum wave (MQW) (http://en.wikipedia.org/wiki/Wave_function). This adjustment is done by averaging prior 15 block difficulties. A significant difference here from other adjustment implementations is that each block difficulty accounted is given a weight, and higher weights are given to more recent blocks; in addition to that, block time is also taken into account. Usually the lower difficulty, the smaller block time. The adjustment algo considers less weight of a block which has the lower difficulty. See details here: https://github.com/magi-project/magi/blob/master/src/main.cpp#L1296

4. Finalizing the PoW-II

As we can see the PoW-I  (will be finished at block 50,000) has produced less coins than expected. To continue the CPU mining, also along with the new algo implementation, it will be very necessary to continue the PoW mining, that will finally make XMG a hybrid PoW/PoS-II coin and that is supposed to remain years long. The hybrid system is more secure than the pure PoW or pure PoS. The PoW-II block reward has maximum 50 XMG and minimum 3 XMG, with the same block rewarding adjustment as the PoW-I. Similarly, the optimum diff grows over time.

Wallet v1.1.0.1:

http://cryptomagic.com/files/magi-release/v1.1.0.1/

Github source code: https://github.com/magi-project/magi

Magi XMG Timeline from Pre-launch until Now, and moving forward!!
- PDF doc coming soon of historical events with Magi

Preview:

http://bitcoinfeeds.com/xmg-coin-of-the-magi-coin-launch/

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.
 
Donation: 99Sg2jHMt8quEk72YxPTCpnn3dnQEkZtV6
https://bitcointalk.org/index.php?topic=735170.msg9023032#msg9023032
https://bitcointalk.org/index.php?topic=792912
http://www.CoinMarketApp.com

[MagiIntro Video] - What is Coin of the Magi?

(Courtesy of SamWalters)

http://suchpool.pw/xmg
http://magi.nonce-pool.com
http://xmg.suprnova.cc

[1714887872]

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[1714887872]

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[joelao95]

Loved much this video, Magi is still rising, so far so good.

[SamWalters]

174+ workers on just one pool

I expect to see 400+ soon

https://xmg.suprnova.cc/index.php?page=statistics&action=pool

[zerocashdev]

Does this really stop botnets? 

[SamWalters]

Does this really stop botnets?  

So far its been that way... seems like a successful start to me.

Currently the worker rate is 500+ across both pools combined

This seems to be an effective campaign thus far.

[Disturbia]

Thats pretty cool. I'll have to try mining this. Botnets ruined a lot of good mining algos.

[JackMeoff]

Thats pretty cool. I'll have to try mining this. Botnets ruined a lot of good mining algos.

I agree. If this really works like its said. I'll try mining this.

[MilesJohan]

This coin is botnet proof?

[OrientA]

Any evidence about botnet proof?

[trattrat]

Its not botnet proof. Artificial limits only stop the honest.

[Hityor_Petar]

I doubt that this is botnet proof. Some pretty smart person somewhere in the interweb of the net will figure out how to get a botnet to dig this coin and rape like no other.

[SamWalters]

Its not botnet proof. Artificial limits only stop the honest.

What if that was possible? The developer is beyond no joke.. hes the right person, and I think once he has it down, it is something we can all benefit from... even mine, and I am not a big time miner, so this is very appealing to many people in similar position.

Even mining litecoin is costly and doesn't make sense.. and unless you were an early adopter, you don't benefit.

Check out magi's main thread.. seems like there is talks about combating it in different ways.

[OrientA]

How does the coin resist botnet?

[Mirkic7]

How does the coin resist botnet?

By cutting down reward for found blocks to useless. For everyone 

[SamWalters]

How does the coin resist botnet?

By cutting down reward for found blocks to useless. For everyone 

Have you looked over the thread? It pretty much has a existing effect, but its being fine tuned regularly by the dev until there is a medium

Check out the PoM Campaign https://bitcointalk.org/index.php?topic=802681
Official Thread: https://bitcointalk.org/index.php?topic=735170.0

[TaylorSwift]

So it doesn't payout much of anything? Whats the point to mine it then? I hate botnets but at the same time I would actually like to get something for mining it.

[trattrat]

Its not botnet proof. Artificial limits only stop the honest.

What if that was possible? The developer is beyond no joke.. hes the right person, and I think once he has it down, it is something we can all benefit from... even mine, and I am not a big time miner, so this is very appealing to many people in similar position.

Even mining litecoin is costly and doesn't make sense.. and unless you were an early adopter, you don't benefit.

Check out magi's main thread.. seems like there is talks about combating it in different ways.

Its a wash. You either have ASICs or you have botnets.

[evansearle42]

I prefer to have a GPU only coin, at least you stop botnet

[OrientA]

I prefer to have a GPU only coin, at least you stop botnet

Stopping botnet is much fairer.

[SamWalters]

I prefer to have a GPU only coin, at least you stop botnet

Stopping botnet is much fairer.

Any updates from your end..  mining Magi yet?

I think its still doing well, there is constant progress reports going out from the community and devs

This campaign looks good:  https://bitcointalk.org/index.php?topic=802681
As quoted   ^^^

**   Why this campaign?   **
# This campaign will assist Magi to be a real CPU coin;
# We have some spare coins to giveaway Grin; seriously we need more miners to consolidate our CPU miner camp.
# This campaign in the meantime compensates CPU miners who have much less mining earnings;
# We do have a concern about the coin swap (check out the official thread); there would be many coins left and we don't want that is going to be a concern to all followers. We will giveaway these coins to the participates; 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).

Here: https://bitcointalk.org/index.php?topic=802681