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

[111magic]

https://bitcointalk.org/index.php?topic=855130.0 vote for Joe guys!!!
He needs 10 more votes to get on the list!
 

Joe King?

Joe Lao

[1715370667]

1715370667

[1715370667]

1715370667

[1715370667]

1715370667

[Atomicat]

MiningRigRentals is getting hash power eaten!! People are enjoying the new m7m algo.
Watch when other clones develop ontop of magi's innovation. I see a trend about to happen.

It looks to me as if renting these cpu's cost ten times the daily profit.
Why would I rent it for such an expensive price?
Or am I miscalculating?

how did you calculate?

32 kh/s -> around 8 xmg a day = 0,0004 btc.
costs mining rental a day (32 khs * 0.09 mhash/day): 0,003 btc  = 800 %.

I was kinda floored by the rates too.  Also wondering what those renters were thinking!  Margings are thin there on all the algos, gotta really be set up right, and ready to jump around, have your backups etc etc.

I'd like to post a rig or two myself, but there seems to be absolutely nothing online about how to set up, what's needed etc etc.  Info anyone?

Oh, and one reason I'd like to list, put a bit of realistic honesty into those numbers.

Edit:  And here once again we've got an example of the minimalist style of this scene... one bit of text, roll-over, not highlighted, pointed to, big shiny button, etc etc.  C'mon people, when it comes to information (and most other things) "Too Much is Always Better than Not Enough!"  We're supposed to be computer geeks obsessed with protocols and triple-checks.  I've got on more than a few nerves over the years (!!!) but it took me thirty of them before I finally accidentally formatted the wrong hard-drive.  (3 days sleepless, identical drives, bugger).

So, someone go and rent out my Bad Girl and take her for a drive.  Set way more honest price in the hopes that others will follow, then we'll recalc.

Thought that mined per day was a little low.  I get 16+ per day on around 35 kh/s.  I've set mine to 0.04 for now.  Slight profit but that 30 Kh/s is more like 35+.  Sooooo... anyone catch that pump today?  Joy!

[SamWalters]

I voted for Joelao95 for the developer: https://bitcointalk.org/index.php?topic=855130.msg9553717#msg9553717

[JimmyTaylor]

I voted for Joelao95 for the developer: https://bitcointalk.org/index.php?topic=855130.msg9553717#msg9553717

I plusd the dev also.

[The Frisian]

I am currently requesting funds from the Poloniex escrow. Plan to send out 10% rewards this week.

Did I miss something, Joe?

[BitLeader]

https://multi.magipool.info/
https://i.imgur.com/qfKs0RI.png

You don't have CPU, but have ASIC miner or graphic card? You can earn Magi Coins on XMG multipool, mining many other algos like: Scrypt, Sha256, x11, x13, x15, and others.

Guide:

- Enter your valid XMG wallet address and wait one or two seconds while system registers your XMG address and creates BTC address (don't need to hit Enter, only copy/paste you XMG address into input field and wait second, two).

- Created BTC address is associated with your XMG address and belongs only to you.

- Mine with your ASIC/GPU miners with associated (shown) BTC address on desired pools: Nicehash, WafflePool or yaamp, and on desired algorithm.

- Some instructions how to mine on rare algos are shown on bottom of page. More details how to fine tune your miners can be found on NiceHash Guide, WafflePool or Yaamp.

- Once BTC are received on your associated BTC address, multipool will exchange BTC for XMG if all collected BTC >= 0.005

- NiceHash, WafflePool and Yaamp send BTC against certain conditions which need to be met (min threshold).

Thanks

[sleepdog]

I am currently requesting funds from the Poloniex escrow. Plan to send out 10% rewards this week.

Did I miss something, Joe?

Nothing received here so far.

[joelao95]

Sent out some coins, sorry for overdue; pretty much buried by the things. 

The following participants don't meet the requirement, sorry:

Code:

c) You must be a bitcointalk user registered before 09/29/2014 12:00 PM;

dutch_loneranger
halfnode
arscar
CaptainPC
darzhel

[Atomicat]

Sent out some coins, sorry for overdue; pretty much buried by the things. 

The following participants don't meet the requirement, sorry:

Code:

c) You must be a bitcointalk user registered before 09/29/2014 12:00 PM;

dutch_loneranger
halfnode
arscar
CaptainPC
darzhel

Ah, there's my now known so I can't say unknown benefactor.  Thanks!  Just wanted to say that there are probably a fair number of people in this scene because they're not exactly rolling in it.  This may be a night out for most, but for me it's staples like dog-food (for them, not for me).

[jpx3m]

thanks for the coins joe. you're the man! God bless and all the best.

[dutch_loneranger]

Sent out some coins, sorry for overdue; pretty much buried by the things. 

The following participants don't meet the requirement, sorry:

Code:

c) You must be a bitcointalk user registered before 09/29/2014 12:00 PM;

dutch_loneranger
halfnode
arscar
CaptainPC
darzhel

hahahaha , thats is why i didnt get any coins.
too bad for me .
i explained  why i didnt  are member before that date.
and explained why  i thought i must be in it
and  i was there from the beginning with the old magicoin just having fun  .
and you still added me in the list  so i thought you have read that and i was in proof of mining .
and now  i am out of the list .

by the way  is  the coinswap final ? or are there still coins too come ?

greetings from the netherlands

[sleepdog]

Got mine too, cheers!

[The Frisian]

MiningRigRentals is getting hash power eaten!! People are enjoying the new m7m algo.
Watch when other clones develop ontop of magi's innovation. I see a trend about to happen.

It looks to me as if renting these cpu's cost ten times the daily profit.
Why would I rent it for such an expensive price?
Or am I miscalculating?

how did you calculate?

32 kh/s -> around 8 xmg a day = 0,0004 btc.
costs mining rental a day (32 khs * 0.09 mhash/day): 0,003 btc  = 800 %.

I was kinda floored by the rates too.  Also wondering what those renters were thinking!  Margings are thin there on all the algos, gotta really be set up right, and ready to jump around, have your backups etc etc.

I'd like to post a rig or two myself, but there seems to be absolutely nothing online about how to set up, what's needed etc etc.  Info anyone?

Oh, and one reason I'd like to list, put a bit of realistic honesty into those numbers.

Edit:  And here once again we've got an example of the minimalist style of this scene... one bit of text, roll-over, not highlighted, pointed to, big shiny button, etc etc.  C'mon people, when it comes to information (and most other things) "Too Much is Always Better than Not Enough!"  We're supposed to be computer geeks obsessed with protocols and triple-checks.  I've got on more than a few nerves over the years (!!!) but it took me thirty of them before I finally accidentally formatted the wrong hard-drive.  (3 days sleepless, identical drives, bugger).

So, someone go and rent out my Bad Girl and take her for a drive.  Set way more honest price in the hopes that others will follow, then we'll recalc.

Thought that mined per day was a little low.  I get 16+ per day on around 35 kh/s.  I've set mine to 0.04 for now.  Slight profit but that 30 Kh/s is more like 35+.  Sooooo... anyone catch that pump today?  Joy!

At this moment 30Kh/s means 3 xmg a day -> 0,00015 , rental price (0.04) -> 0,0014 , still 10 times.
I think right now, its better to buy than mine your coins.

[111magic]

Better do both. Mine and buy XMG!
Magi is the future!

[The Frisian]

Better do both. Mine and buy XMG!
Magi is the future!

Mining for the network, yes.
But certainly not for the profit.
My pc consumes much more power than (30 KH/s, 3 XMG) 0,00015 = 5 cents per day.
Actually I think this will become a serious problem.
Or am I somewhere wrong?

[Lightsplasher]

Better do both. Mine and buy XMG!
Magi is the future!

Mining for the network, yes.
But certainly not for the profit.
My pc consumes much more power than (30 KH/s, 3 XMG) 0,00015 = 5 cents per day.
Actually I think this will become a serious problem.
Or am I somewhere wrong?

To me this is more of a solution than a problem.  The low price keeps it from being profitable for big corporations to pool their resources and mine up all the Magi coins.  Theres a lot of “sort of free” power out there from free trials and people who use the machine for surfing and can mine coins in the background while doing other things.  To me the point now is to get it distributed to enough people to make it fair so that when PoS kicks in and supports the block chain there won't just be just a few large bag holders.  I hope that by building community our short term power loss will turn into a long term profit for us all.  Really the days of PoW mining are kind of drawing to a close right now anyway IMHO.

Thanks for the PoM payment I got a just a while ago by the way!

[SamWalters]

Hi, did you guys enjoy this campaign?

What if there was a bigger and longer lasting reward for miners?

Something new and interesting. What if miners are rewarded for referral of new miners to grow rewards?

[Digithusiast]

The mining campaigns are very nice. A small suggestion would be to be a bit more clear about the rewards and the payment(s) of the rewards. It was said there would be approx 1,000 XMG per participant and if I am correct this will be paid in small parts? Until now I received a one time reward payment of 126 XMG, I guess and trust that was a first payment? Anyway, I think if you want to attract more and repeating participants, you will need to communicate a plan and stick to this mining and reward plan, clearly stating rewards and payment schedule. Cheers.

[SamWalters]

The mining campaigns are very nice. A small suggestion would be to be a bit more clear about the rewards and the payment(s) of the rewards. It was said there would be approx 1,000 XMG per participant and if I am correct this will be paid in small parts? Until now I received a one time reward payment of 126 XMG, I guess and trust that was a first payment? Anyway, I think if you want to attract more and repeating participants, you will need to communicate a plan and stick to this mining and reward plan, clearly stating rewards and payment schedule. Cheers.

Good point of view. What campaign should be run for the Proof of Mining #2 stage?

[Atomicat]

It's still a bit off-putting (intimidating, scary) to see djm34's big mondo farm there along with yikes, six others over 1,000Kh/s.  That's about 22,500Kh/s sitting there or about 500 hefty machines for seven users.  I know it's to secure the network and all but well 10 to 1 I can handle, but when it gets to 100 to 1, then we're definitely getting into big mining farm territory.

Money is never about money, it's about power.