Topic: [ANN!] -- [MAG] << MagCoin >> [X11 || No PREMINE/IPO || Fast] - page 11. (Read 15952 times)
What does "MAG" stand for?
Lots of coins, long block time, not feeling it.
Bounty donation address: mSrDurwNvaFw3UX39WbkgDCdg6k8AhHtBs
Basic Specifications
Rewards Calculation
Previously, rewards was not explicitly stated, because it is dynamically calculated based upon this formula:
[(10 * difficulty) / (number of blocks + 129600)] * 129600
Thus, a higher difficulty contributes to a higher payout per block, while the height (or number of blocks) prevents a suddenly-increasing difficulty from giving out too many coins. This means that MagCoin is also inherently more resilient to profit-pools (pools that mine the most profitable coin, which often can cause hashrate spikes). Additionally, with KGW smoothly adjusting difficulty, the coin will be very stable.
Why You Should Mine It
Miners
MagCoin utilizes X11 cryptography, so any DarkCoin miner should work without any fuss. There are also modified kernels in some miners, which may offer a hashrate increase. I personally do not use them. The GPU miner link can be found below in the "Assets" section. Note: on my first try, I didn't get the GPU miner to work. You might not, either. The first thing you'll want to check is that you have the latest version of Catalyst, though. I have 14.4, and I'm having success. If you have problems, post here OR any DarkCoin mining thread, as the programs are the same! Also, as with all GPU mining, it takes some time and tuning to get maximal performance, so don't be disappointed if your hashrate seems low to begin with! Also, check to see your conf file specifies intensity, as the default is 8 (which is very low, even for crappy GPUs). Finally, if the x11mod kernel doesn't work, try using the darkcoin kernel instead.
CPU miners are a bit trickier, though. As quoted from CPUCoinList.com, "There are several versions of CPU miners for X11. There are currently two versions of the CPU miner. If your CPU supports the AVX/AES instruction sets, use the 1.3 version. If not, use the 1.2c version." There is also a README file in the 1.3 version's ZIP file, so read-up. I tried several miners with my AMD Phenom, but ultimately wasn't successful with any of the 1.3 miners. So, when in doubt, just go 1.2. Note: when running the miner, be sure to specify "X11" with the -a flag, like this: "minerd.exe -a X11 --url=http://somepool.com:1234 -u test -p x". Otherwise, it will default to SCRYPT!
Pools
Assets
Bounties
Bounty donation address: mSrDurwNvaFw3UX39WbkgDCdg6k8AhHtBs
I am a human being, after all, so I can't do everything (sure wish I could). Hence, I'll be offering bounties (in the form of PayPal). If you would like to be paid in MAG, I am perfectly okay with that. Just PM me and we'll figure something out, since MAG doesn't actually have a value yet (until it gets onto an exchange). However, you could look at it as an investment opportunity (in which case you would have a great bargain if it becomes successful). My advisement is: if it's easy to you, take payment in MAG, since you have nothing to lose. If it's time consuming or difficult, opt to be paid via PayPal. All payments will be sent as a gift, hence no chargebacks.
ATTENTION MPOS POOL OWNERS:
$config['getbalancewithunconfirmed'] = true;
SHOULD BE
$config['getbalancewithunconfirmed'] = false;
$config['getbalancewithunconfirmed'] = true;
SHOULD BE
$config['getbalancewithunconfirmed'] = false;
MagCoin
Basic Specifications
- Algorithm: [X11]
- Block Time: [3 Min]
- Reward: [Calculation-based/adaptive (see "rewards" section below)]
- Difficulty Adjustment: [KGW adaptive algorithm]
- Total Number of Coins: [2.5 billion]
Rewards Calculation
Previously, rewards was not explicitly stated, because it is dynamically calculated based upon this formula:
[(10 * difficulty) / (number of blocks + 129600)] * 129600
Thus, a higher difficulty contributes to a higher payout per block, while the height (or number of blocks) prevents a suddenly-increasing difficulty from giving out too many coins. This means that MagCoin is also inherently more resilient to profit-pools (pools that mine the most profitable coin, which often can cause hashrate spikes). Additionally, with KGW smoothly adjusting difficulty, the coin will be very stable.
Why You Should Mine It
- Using X11 means you'll be hashing much cooler -- no more are days of sitting in a far-too-heated room monitoring cgminer!
- KGW difficulty changes + reward calculations will never be sudden, so value will stabilize quickly, and the coin won't jump all over the place.
- P2pool has already been modified to work with it, so you can run your own node from day one. It's as simple as git cloning a repo I've set up.
- A reasonable cap on the total number of coins helps with maintaining necessary scarcity.
- The innovative reward-calculation feeds into concepts of economics, as it balances difficulty and block payout.
Miners
MagCoin utilizes X11 cryptography, so any DarkCoin miner should work without any fuss. There are also modified kernels in some miners, which may offer a hashrate increase. I personally do not use them. The GPU miner link can be found below in the "Assets" section. Note: on my first try, I didn't get the GPU miner to work. You might not, either. The first thing you'll want to check is that you have the latest version of Catalyst, though. I have 14.4, and I'm having success. If you have problems, post here OR any DarkCoin mining thread, as the programs are the same! Also, as with all GPU mining, it takes some time and tuning to get maximal performance, so don't be disappointed if your hashrate seems low to begin with! Also, check to see your conf file specifies intensity, as the default is 8 (which is very low, even for crappy GPUs). Finally, if the x11mod kernel doesn't work, try using the darkcoin kernel instead.
CPU miners are a bit trickier, though. As quoted from CPUCoinList.com, "There are several versions of CPU miners for X11. There are currently two versions of the CPU miner. If your CPU supports the AVX/AES instruction sets, use the 1.3 version. If not, use the 1.2c version." There is also a README file in the 1.3 version's ZIP file, so read-up. I tried several miners with my AMD Phenom, but ultimately wasn't successful with any of the 1.3 miners. So, when in doubt, just go 1.2. Note: when running the miner, be sure to specify "X11" with the -a flag, like this: "minerd.exe -a X11 --url=http://somepool.com:1234 -u test -p x". Otherwise, it will default to SCRYPT!
Pools
- Official p2pool (no registration, auto payments): http://blocks.synco.in:33550/
Your payment address is your worker username, password can be anything. - Minerpool pool: http://mag.minerpools.com/
- Hashlink pool: [http://mag.hashlink.eu]
- Scorpio18 pool: [http://mag.coin-miners.info]
- Nonce pool: http://mag.nonce-pool.com/
- Pool.mn pool: http://mag.pool.mn/
- Pool.pe pool: http://mag.pool.pe/
Assets
- Block explorer: [http://blocks.synco.in:2750]
- GitHub: [https://github.com/magcoin/magcoin]
- Wallet Download: https://mega.co.nz/#!HEkTibRK!aYpMGbl87nDbX-Lymc3gsomEsP65Hv7n3hR503rcCg0
- Twitter: [http://twitter.com/magcoincrypto]
- Modded p2pool repo: [https://gitlab.com/magcoin/p2pool-mag]
- X11 GPU miner: [https://darkcointalk.org/threads/x11-algo-sgminer-with-separate-kernels-greater-hashrate.897/]
- X11 CPU miner: [https://mega.co.nz/#F!V5I1mawQ!bCcaIhRkODjUVEBWsGmu_w] (See "Miners" section above for details)
- Faucet: [none yet]
Bounties
Bounty donation address: mSrDurwNvaFw3UX39WbkgDCdg6k8AhHtBs
I am a human being, after all, so I can't do everything (sure wish I could). Hence, I'll be offering bounties (in the form of PayPal). If you would like to be paid in MAG, I am perfectly okay with that. Just PM me and we'll figure something out, since MAG doesn't actually have a value yet (until it gets onto an exchange). However, you could look at it as an investment opportunity (in which case you would have a great bargain if it becomes successful). My advisement is: if it's easy to you, take payment in MAG, since you have nothing to lose. If it's time consuming or difficult, opt to be paid via PayPal. All payments will be sent as a gift, hence no chargebacks.
- Android wallet: [100 MAG]
- Online open-source wallet: [not yet set]
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