[ANN] [Proof of Mining Campaign] [XMG] Magi | 1st PoS-II | Tor | M7M CPU only

[SamWalters]

Providing videos of awareness about Coin Magi... It will take you less than 3 minutes to watch BOTH videos...

just do it : )  ...

Video #1 *image below is the link to the video* or click here to watch it: https://www.youtube.com/watch?v=jpvpO0OE7Dw



Video #2 *image below is the link to the video* or click here to watch it here: https://www.youtube.com/watch?v=W71FVD6YWM8

[Atomicat]

Providing videos of awareness about Coin Magi... It will take you less than 3 minutes to watch BOTH videos...

just do it : )  ...

I did it!  (Oh the things I've done)  I've become ambivalent about this project though because nothing has changed.  Right now the top two miners on the nonce pool are cranking out close to 20,000 Kh/s, what looks to be 30% of the network!  30%!  That's really sad because there are 360 users in the pool right now.  The network viability works on distribution, not concentration.  It doesn't matter actual crunching is taking place, because difficulty can be adjusted.  What matters is the distribution.  Nothing is going to change until some dev bites the proverbial bullet, ditches pools entirely, and enforces mining from the wallet only.  Might be someone with a recent start-up who might be up for that.

[SamWalters]

Providing videos of awareness about Coin Magi... It will take you less than 3 minutes to watch BOTH videos...

just do it : )  ...

I did it!  (Oh the things I've done)  I've become ambivalent about this project though because nothing has changed.  Right now the top two miners on the nonce pool are cranking out close to 20,000 Kh/s, what looks to be 30% of the network!  30%!  That's really sad because there are 360 users in the pool right now.  The network viability works on distribution, not concentration.  It doesn't matter actual crunching is taking place, because difficulty can be adjusted.  What matters is the distribution.  Nothing is going to change until some dev bites the proverbial bullet, ditches pools entirely, and enforces mining from the wallet only.  Might be someone with a recent start-up who might be up for that.

you did what? and yeah those two miners came back with lots of hash power...

but it doesn't seem like they benefiting all that much even if they do have tons of it.

[Atomicat]

Providing videos of awareness about Coin Magi... It will take you less than 3 minutes to watch BOTH videos...

just do it : )  ...

I did it!  (Oh the things I've done)  I've become ambivalent about this project though because nothing has changed.  Right now the top two miners on the nonce pool are cranking out close to 20,000 Kh/s, what looks to be 30% of the network!  30%!  That's really sad because there are 360 users in the pool right now.  The network viability works on distribution, not concentration.  It doesn't matter actual crunching is taking place, because difficulty can be adjusted.  What matters is the distribution.  Nothing is going to change until some dev bites the proverbial bullet, ditches pools entirely, and enforces mining from the wallet only.  Might be someone with a recent start-up who might be up for that.

you did what? and yeah those two miners came back with lots of hash power...

but it doesn't seem like they benefiting all that much even if they do have tons of it.

They're raking in 100X the coinage, they'll have huge buying/selling power in the marketplace.  Same old same old. 

[karimdr2]

registred

[joelao95]

Providing videos of awareness about Coin Magi... It will take you less than 3 minutes to watch BOTH videos...

just do it : )  ...

I did it!  (Oh the things I've done)  I've become ambivalent about this project though because nothing has changed.  Right now the top two miners on the nonce pool are cranking out close to 20,000 Kh/s, what looks to be 30% of the network!  30%!  That's really sad because there are 360 users in the pool right now.  The network viability works on distribution, not concentration.  It doesn't matter actual crunching is taking place, because difficulty can be adjusted.  What matters is the distribution.  Nothing is going to change until some dev bites the proverbial bullet, ditches pools entirely, and enforces mining from the wallet only.  Might be someone with a recent start-up who might be up for that.

you did what? and yeah those two miners came back with lots of hash power...

but it doesn't seem like they benefiting all that much even if they do have tons of it.

They're raking in 100X the coinage, they'll have huge buying/selling power in the marketplace.  Same old same old. 

Spreading mining rewards as much as possible is basically the purpose of this campaign, though we're yet far from that. Basically big miners cannot be avoided. Mining from wallet only may cause hidden facts you never know; people can still sole mine, firing up their cpu farms. You don't know how many miners out there, and how many big miners there. For us, at least what we see is what we have.

I actually very much like the early solo mining stage of Magi. If you look back Magi thread, people (especially those having big hashrates) complained a lot finding blocks; they only found few blocks in a day! while more people cry for pool mining, since then we had those big guys. Check out this graph:
difficulty vs time


Pool mining was enabled on September 17, 2014, 08:09:34 AM. Difficulty jumped (09/18) exactly after the pool mining.

Stratum pool and solo capable miner! Our pool is up and running.

https://github.com/noncepool/m7m-cpuminer

edit: algo  is 

Code:

-a m7mhash

This is the beauty of this coin, isn't it? Very fair mining at the launch! However we're facing the issues with the big miners, reason where we are now.

... The effect of this is that when there is a huge influx of mining capacity (as was the case in the minutes after launch) the difficulty changes to account for them very quickly.  This means that people hoping to get an advantage with low difficulty will not be able to, making this extremely fair.  This, combined with the reward being directly proportional to difficulty, means that mining profitability will remain fairly constant from launch onwards.  It doesn't matter whether you have a laptop or a farm of 100 machines, your average reward will stay the same with time, regardless of the network hash.  It is about as fair as a PoW distribution can possibly be**

There are other issues with approaches you can think of; I am still open to suggestions. We try our efforts to make Magi better.

[Bojcha]

I cant agree that solo mining at start was fair. period.
With lowhashrate you found only 1 or 2 block because low diff at start, after few hours, NONE till pool mining. Try to solo mine now with 50kH/s you will find nothing. That was case, and that's why pool was needed. In same time at solo mining days big hashraters founds blocks, wich was even more un-fair.

Now again - guy with 1 or 2 MH/s will get XX coins, and other guy with 100kH/s same amount.

How is all that all good/fair? If with this campaign you want to spread coins to miners more even, then guy1 should get minimal amount and guy2 maximum amount.

[joelao95]

I cant agree that solo mining at start was fair. period.
With lowhashrate you found only 1 or 2 block because low diff at start, after few hours, NONE till pool mining. Try to solo mine now with 50kH/s you will find nothing. That was case, and that's why pool was needed. In same time at solo mining days big hashraters founds blocks, wich was even more un-fair.

Now again - guy with 1 or 2 MH/s will get XX coins, and other guy with 100kH/s same amount.

How is all that all good/fair? If with this campaign you want to spread coins to miners more even, then guy1 should get minimal amount and guy2 maximum amount.

Bojcha, there will be always complaining about fairness, cause there are too many factors we need to cope with. What I meant fair launch is that people was expecting finding many blocks before difficulty rising, while this didn't happen. I full understood your opinion about the solo vs pool mining; however, if you look at the diff graph, you will notice the issue: we don't have big miners before pool mining. It was just not worth for big miners risking mining. This is right: one having higher hash should get higher payout; we can't make this the other way around; that being said: one with 0.1 Mh getting 0.1 coin, 0.2 Mh getting 0.2 coins, 1 Mh getting 1 coin; what we can do here is, if one with 1000 Mh, he won't get 1000 coins (well, one can do that, but he just doesn't want to cause not worth to do that; I believe such high hash won't happen to Magi).

Every situation has its advantage and disadvantage, we can't avoid. The campaign going on is best option I have come up with.

[mohammedfaiz143]

Well , I have been mining for three days on my laptop , but I only have 10- 11 kh/s . Can I qualify for the shareholder ?

[Karn]

Signed up and a Big thank you to joelao95 for helping me setup the free VPN

[joelao95]

Well , I have been mining for three days on my laptop , but I only have 10- 11 kh/s . Can I qualify for the shareholder ?

which cpu, windows miner? I won't suggest mining with laptop, will you able to set up VPS? 

https://bitcointalk.org/index.php?topic=735170.msg8800103#msg8800103

or if you can show support to Magi, I will let you in too

[joelao95]

Signed up and a Big thank you to joelao95 for helping me setup the free VPN

No problem people having issues with setting up, let me know.

[Atomicat]

I did it!  (Oh the things I've done)  I've become ambivalent about this project though because nothing has changed.  Right now the top two miners on the nonce pool are cranking out close to 20,000 Kh/s, what looks to be 30% of the network!  30%!  That's really sad because there are 360 users in the pool right now.  The network viability works on distribution, not concentration.  It doesn't matter actual crunching is taking place, because difficulty can be adjusted.  What matters is the distribution.  Nothing is going to change until some dev bites the proverbial bullet, ditches pools entirely, and enforces mining from the wallet only.  Might be someone with a recent start-up who might be up for that.

you did what? and yeah those two miners came back with lots of hash power...

but it doesn't seem like they benefiting all that much even if they do have tons of it.

They're raking in 100X the coinage, they'll have huge buying/selling power in the marketplace.  Same old same old. 

Spreading mining rewards as much as possible is basically the purpose of this campaign, though we're yet far from that. Basically big miners cannot be avoided. Mining from wallet only may cause hidden facts you never know; people can still sole mine, firing up their cpu farms. You don't know how many miners out there, and how many big miners there. For us, at least what we see is what we have.

*sigh*  Oh DUH!!!  I skipped a decimal point there.  You've got a diminishing return set up don't you?  Must not post when sleep-deprived and bleary-eyed.  Also, been a while since I had n00b status in something, so must assume that if something seems easy and obvious, it's not.  Gotta dig around, read, and do my Blockchain 101.

[111magic]

Providing videos of awareness about Coin Magi... It will take you less than 3 minutes to watch BOTH videos...

just do it : )  ...

Video #1 *image below is the link to the video* or click here to watch it: https://www.youtube.com/watch?v=jpvpO0OE7Dw



Video #2 *image below is the link to the video* or click here to watch it here: https://www.youtube.com/watch?v=W71FVD6YWM8

I like the videos Sam.
For people who are not at home in this world, it is good to get things visually.

[Digithusiast]

Joined the proof of mining campaign.

AMD FX8350 running 6 cores gives approx 78 kh/s with the miner cpuminer_win64_magi_byMarcusDe-bdver2-0922

[trattrat]

So you are artificially limiting the hashrate, effectively creating a central authority? Why is this good?

[joelao95]

pls take a look at the OP. there is no "artificial" limit on the hashrate, but the reward does change.

[joelao95]

Joined the proof of mining campaign.

AMD FX8350 running 6 cores gives approx 78 kh/s with the miner cpuminer_win64_magi_byMarcusDe-bdver2-0922

Thanks for support.

[Atomicat]

So you are artificially limiting the hashrate, effectively creating a central authority? Why is this good?

Because those who already have a lot have the resources to ensure that nobody else gets any.

[Atomicat]

Joined the proof of mining campaign.

AMD FX8350 running 6 cores gives approx 78 kh/s with the miner cpuminer_win64_magi_byMarcusDe-bdver2-0922

How you like your 8350?  You can squeak 100Kh/s out of that bad boy.