[ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 1057.

ancientcoins

legendary

Activity: 1568

Merit: 1003

🚀🚀 ATHERO.IO 🚀🚀

Quote from: joelao95 on January 18, 2015, 01:35:12 AM

Quote from: ancientcoins on January 17, 2015, 11:07:19 AM

i have a recommended feature if you could implement it. you should create like magi credit score. just how in real life our credit score is used to assess if you get credit you could do something like that for the crypto world. one factor could be how much spending the person does, staking and then later to increase credit they could provide documents to verify identity

just a thought a credit score system which works for cypto is huge as you all know credit is really popular. this could also be for businesses who use your currency to trade ofcourse there is a risk of non payment but slowly the system will be perfected as you can learn from mistakes

this could really be the next stage in crypto. you could then let people offer loans by using your system which you charge a fee

We've been thinking doing trust network. Not quite sure how the credit score works in this scene, especially a coin go anonymous.

anonymous loans could be given out based on account activity. now with anonymous loans the first loan would be small say $1. this could be dependent on how much shopping the individual does using magi. this could then increase slowly if loans are paid back on time to max of say $20. after this if you want to borrow more you would need to prove who you are where this will help boost your credit score. this is a option not compulsory.

people love credit and i think if they have a benefit in using magi it could be popular. the first credit card in crypto. ofcourse this a long term project so many mistakes to learn from. merchants could use it for their business by signing up as a merchant and having a master address where they use the system to loan credit to their customers.

if a big loan isn't repaid then as we only would give it to people who have proved themselves just how in the real there are debt collectors im sure many would be willing to start this service to act as debt collector where they get a piece of the pie

crazy idea but excellent if implemented

NeedIfFindIt

full member

Activity: 500

Merit: 100

Quote from: joelao95 on January 18, 2015, 01:55:26 AM

Quote from: NeedIfFindIt on January 17, 2015, 03:55:36 AM

In 0.9.6 it will use hardcoded 11MHs/11XMG which makes 100%/50%

In 0.9.7 it will use hardcoded 22MHs/22XMG which makes it running at 100% if the connection to my hosting is unavailable (also a message will appear).

If just magid crash then the MHs value will be grabbed from one of the pools and the XMG/Block will be estimated on MHs.

I guess using the block value (v0.9.6) would be better. The hashrate actually has no direct relationship with the difficulty-v2 and blockvalue, so it might be unreliable. I'm about to add difficulty-v2 based hashrate into the API call, but think that might be inaccurate; the formula is hashrate = diff * 2^32/blocktime = diff * 2^32/180 if you want to use hashrate (actually blocktime varies a lot). Also the optimum network hash is supposed to be increasing over time, that is to allow more people mining.

An additional thought which might be useful in some situations: include an option to set the maximum of default CPU usage; for example, people may want to limit CPU mining while using their office PC.

Probably I did not explained it correctly.
blockvalue is just guessed from the hashrate only in a situation when:
- magid at my host has crashed.
- the host is still able to connect to one of the pools.
- there is no value in the xcache (I cache the values for 2 minutes to avoid RPC overload) but also cache the same values for 6 hours just in case Wink

I plan to include more CPU options in the next version but it will be in February (need more testing).

joelao95

legendary

Activity: 1190

Merit: 1009

Coin of the Magi!

Quote from: NeedIfFindIt on January 17, 2015, 03:55:36 AM

In 0.9.6 it will use hardcoded 11MHs/11XMG which makes 100%/50%

In 0.9.7 it will use hardcoded 22MHs/22XMG which makes it running at 100% if the connection to my hosting is unavailable (also a message will appear).

If just magid crash then the MHs value will be grabbed from one of the pools and the XMG/Block will be estimated on MHs.

I guess using the block value (v0.9.6) would be better. The hashrate actually has no direct relationship with the difficulty-v2 and blockvalue, so it might be unreliable. I'm about to add difficulty-v2 based hashrate into the API call, but think that might be inaccurate; the formula is hashrate = diff * 2^32/blocktime = diff * 2^32/180 if you want to use hashrate (actually blocktime varies a lot). Also the optimum network hash is supposed to be increasing over time, that is to allow more people mining.

An additional thought which might be useful in some situations: include an option to set the maximum of default CPU usage; for example, people may want to limit CPU mining while using their office PC.

joelao95

legendary

Activity: 1190

Merit: 1009

Coin of the Magi!

Quote from: sethminer14 on January 17, 2015, 12:21:15 PM

I was just wondering how many coins I could expect to mine with an with a fairly decent cpu, like an old I7 i think its a 3700. Is it profitable at all?

There is a built-in calculator, run command: getminingbykhps; because of dynamic block rewards, results might be different by running at different time.

joelao95

legendary

Activity: 1190

Merit: 1009

Coin of the Magi!

Quote from: ancientcoins on January 17, 2015, 11:07:19 AM

i have a recommended feature if you could implement it. you should create like magi credit score. just how in real life our credit score is used to assess if you get credit you could do something like that for the crypto world. one factor could be how much spending the person does, staking and then later to increase credit they could provide documents to verify identity

just a thought a credit score system which works for cypto is huge as you all know credit is really popular. this could also be for businesses who use your currency to trade ofcourse there is a risk of non payment but slowly the system will be perfected as you can learn from mistakes

this could really be the next stage in crypto. you could then let people offer loans by using your system which you charge a fee

We've been thinking doing trust network. Not quite sure how the credit score works in this scene, especially a coin go anonymous.

joelao95

legendary

Activity: 1190

Merit: 1009

Coin of the Magi!

Quote from: th3.r00t on January 17, 2015, 05:34:22 PM

Maybe the guys that made sources for linux will intervene here?

Can it be done, so that the linux miner will monitor the network hashrate, block value like NeedIfFindIt windows miner?
That way, we all who have linux miners and VPS's will get alo the maximum XMG per watt. Wink

I will try to make that.

joelao95

legendary

Activity: 1190

Merit: 1009

Coin of the Magi!

Quote from: ItsValium on January 17, 2015, 05:01:47 PM

For now I'm just letting the miners do their thing and collect the coins into a central wallet. I'm still a bit unclear on how the staking part works exactly but I don't plan to sell or trade. I'm in it for the long run Wink

Feel free to ask questions regarding staking. We do have a nice community.

jawitech

full member

Activity: 196

Merit: 100

Quote from: melwinder on January 17, 2015, 09:20:51 PM

Quote from: jawitech on January 17, 2015, 09:18:47 PM

Quote from: melwinder on January 17, 2015, 09:13:07 PM

Is the multipool working??
https://multi.magipool.info/
I had a 2 day rental for Scrypt on there, here is the results:
Unconfirmed BTC: 0.00149230
Confirmed BTC: 0.00000000

First exchange round () stats for: 9QuwTtwZXXXXXXXXXXXXXXXXX
No exchange data

How long do I have to wait before the multipool changes the unconfirmed btc to confirmed, and then that into XMG?

Yes, it's working. In fact, that's only a front-end that connects you to multipools and buys XMG from the market with the BTC you mined. This way, it generates some demand and helps increasing the price.

The problem you're experiencing results from the minimum payout amount of the selected pool. Which pool are you mining at, yaamp, nicehash or wafflepool? When this amount is reached, the payment will be processed and converted into XMG.

I was using Yammp, but my 2 day rental is over, so is that 149k satoshis just literally dead coins or do I wait a couple more days?

"Payouts are made automatically once a day for all balances above 0.001 or 0.0001 on Sunday."
According to the yaamp site, it should have been processed. When did you reach a balance of > 0.001 BTC? Give it 24h, I guess it should be processed then. Your coins are not lost, even if you would be below the minimum amount. They will remain and you could later continue mining.

If it's not processed in 24h, please let me know.

Great to see you rented hashrate to support Magi!

melwinder

sr. member

Activity: 252

Merit: 250

Quote from: jawitech on January 17, 2015, 09:18:47 PM

Quote from: melwinder on January 17, 2015, 09:13:07 PM

Is the multipool working??
https://multi.magipool.info/
I had a 2 day rental for Scrypt on there, here is the results:
Unconfirmed BTC: 0.00149230
Confirmed BTC: 0.00000000

First exchange round () stats for: 9QuwTtwZXXXXXXXXXXXXXXXXX
No exchange data

How long do I have to wait before the multipool changes the unconfirmed btc to confirmed, and then that into XMG?

Yes, it's working. In fact, that's only a front-end that connects you to multipools and buys XMG from the market with the BTC you mined. This way, it generates some demand and helps increasing the price.

The problem you're experiencing results from the minimum payout amount of the selected pool. Which pool are you mining at, yaamp, nicehash or wafflepool? When this amount is reached, the payment will be processed and converted into XMG.

I was using Yammp, but my 2 day rental is over, so is that 149k satoshis just literally dead coins or do I wait a couple more days?

jawitech

full member

Activity: 196

Merit: 100

Quote from: melwinder on January 17, 2015, 09:13:07 PM

Is the multipool working??
https://multi.magipool.info/
I had a 2 day rental for Scrypt on there, here is the results:
Unconfirmed BTC: 0.00149230
Confirmed BTC: 0.00000000

First exchange round () stats for: 9QuwTtwZXXXXXXXXXXXXXXXXX
No exchange data

How long do I have to wait before the multipool changes the unconfirmed btc to confirmed, and then that into XMG?

Yes, it's working. In fact, that's only a front-end that connects you to multipools and buys XMG from the market with the BTC you mined. This way, it generates some demand and helps increasing the price.

The problem you're experiencing results from the minimum payout amount of the selected pool. Which pool are you mining at, yaamp, nicehash or wafflepool? When this amount is reached, the payment will be processed and converted into XMG.

melwinder

sr. member

Activity: 252

Merit: 250

Is the multipool working??
https://multi.magipool.info/
I had a 2 day rental for Scrypt on there, here is the results:
Unconfirmed BTC: 0.00149230
Confirmed BTC: 0.00000000

First exchange round () stats for: 9QuwTtwZXXXXXXXXXXXXXXXXX
No exchange data

How long do I have to wait before the multipool changes the unconfirmed btc to confirmed, and then that into XMG?

th3.r00t

sr. member

Activity: 312

Merit: 250

Quote from: NeedIfFindIt on January 17, 2015, 02:46:47 PM

Quote from: th3.r00t on January 17, 2015, 11:57:20 AM

Is there a way to implement your software logic into linux miner?
The linux legacy miner also supports CPU limitation, all we need now is a script or program to make the decision making for CPU efficiency on linux miner...
Can this be done?

I think the best option would be to modify the legacy miner and make it manage the the cpu usage internally. But I'm not good enough in C++ and totally lame in linux.

The hashrate & block value are not available in the stratum protocol. I use my host:
http://xmg.makejar.com/hp.php?v=0.97

Where v is the app version (I may change the number of params returned for the next versions).

The result is simply HashRate|BlockValue

Don't flood me. I call it once per 2 minutes. But actually the BlockValue changes very slowly, even once per 20-30min should be good enough.

Make sure how you will manage the cpu usage if my host is not responding etc.

Thanks for sharing your link for getting the block value!
There is other ways to get it if someone decides to optimize the linux minerd - getmininginfo in magid which outputs JSON with these values.

I will not use it for now, as I am too way out of my league in programming in C++ and
I am recently introduced to Ubuntu Server (I have few Ubuntu GPU miners with spare CPU cycles dedicated mining XMG

)...

Maybe the guys that made sources for linux will intervene here?

Can it be done, so that the linux miner will monitor the network hashrate, block value like NeedIfFindIt windows miner?
That way, we all who have linux miners and VPS's will get alo the maximum XMG per watt. Wink

111magic

legendary

Activity: 1750

Merit: 1005

Nice!
Welcome in our Magical community!

ItsValium

newbie

Activity: 7

Merit: 0

Quote from: jawitech on January 17, 2015, 03:15:36 PM

Quote from: ItsValium on January 17, 2015, 11:10:02 AM

Hello all,

...

Greets!

Hello and welcome to the Magi community.

May I ask where you did your research and where/how you learned about Magi?

Glad to hear you're not simply putting all your hashrate in one pool, really appreciate your efforts.
Do you immediately convert your mined XMG to BTC or do you prefer staking and selling at higher prices?

Thx for the welcome.

Well since I had some spare CPU-cycles on my environments I started researching CPU minable cryptocurrency. Since my clusters don't have GPU's that was the only option. That led me to MemoryCoins but they seem to have gone extinct and after looking around at online listings I found some older threads about MagiCoin her on bitcointalk.org. After reading a bit more into it, it all made sence and it seems the way MagiCoin is setup promises to be the way to go. After trying with a single small virtual machine to see what kind of performance I could get out of it I decided to dedicate 80% of the free resources on my clusters to MagiCoin.

For now I'm just letting the miners do their thing and collect the coins into a central wallet. I'm still a bit unclear on how the staking part works exactly but I don't plan to sell or trade. I'm in it for the long run Wink

Regards!

jawitech

full member

Activity: 196

Merit: 100

Community, we still need your help. Magi needs more votes to get more attention and trading volume.

Please vote here

https://www.cryptsy.com/coinvotes/
https://bitcointalksearch.org/topic/directbet-live-sportsbook-racebook-now-accepting-ether-393147
https://www.bitwin.co/voting.php

As there is a current giveaway campaign, that's your chance to support Magi and get some coins in return

Quote from: 111magic on January 17, 2015, 08:12:48 AM

Check out the give-away: Stays on only for one week! Grin

http://www.m-talk.org/viewtopic.php?f=35&t=51

http://bitcoingarden.tk/forum/index.php?topic=2518.msg86256#msg86256

http://cryptos.us/forum/giveaways/49-twitter-give-away-magi-xmg-m7m-cpu-unigue-coin-of-the-future-started#304

jawitech

full member

Activity: 196

Merit: 100

Quote from: sethminer14 on January 17, 2015, 12:21:15 PM

I was just wondering how many coins I could expect to mine with an with a fairly decent cpu, like an old I7 i think its a 3700. Is it profitable at all?

Unfortunately I'm not able to give a good reply to the first question, there are other guys who know that better.

Profitable? Depends on, how you define it. Even if you might get more per day from some other coins, Magi is a raising star, it's get more and more attention and we are currently busy with the "real world adoption". Our payment gateway will get launched soon and we're in touch with new merchants. As the price of Magi went down recently (like nearly all coins), it's a good chance to keep them in the wallet and generate more with PoS. The price will increase, that's for sure. And you will probably make more profit long-term than with other options.

jawitech

full member

Activity: 196

Merit: 100

Quote from: ItsValium on January 17, 2015, 11:10:02 AM

Hello all,

Just started with cryptocurrency a couple of days ago, and after a long search decided to put my efforts into XMG/Magicoin. I manage a couple of virtualisation clusters and setup around 350 KH/s of miners to do some work (they will go slower during daytime in europe, since they share resources with production systems)and divided them amongst the pools I could find in the OP.

Magicoin sounds like the way to go!

Greets!

Hello and welcome to the Magi community.

May I ask where you did your research and where/how you learned about Magi?

Glad to hear you're not simply putting all your hashrate in one pool, really appreciate your efforts.
Do you immediately convert your mined XMG to BTC or do you prefer staking and selling at higher prices?

NeedIfFindIt

full member

Activity: 500

Merit: 100

Quote from: th3.r00t on January 17, 2015, 11:57:20 AM

Quote from: NeedIfFindIt on January 17, 2015, 03:55:36 AM

Quote from: joelao95 on January 16, 2015, 09:47:53 PM

Quote from: NeedIfFindIt on January 16, 2015, 11:47:57 AM

Thanks for the advice and for including magid

Got new version based on:

Code:

[blockvalue] => Array
        (
            [difficulty-V2] => x.xxxxxxxx
            [blockvalue] => xx.xxxxxxxx
        )

Targeting at least 12 XMG block value for the full speed (with hope that this will almost cover the energy cost soon).

Download link:
http://xmg.makejar.com/download/sweet-spot-0.9.6.zip

Screenshot & More details:
http://xmg.makejar.com/

Nice, I've added the miner to the OP. A question, is the miner using the reward information from your hosted magid? what happens if the site gets offline, will that be problematic to running the miner?

In 0.9.6 it will use hardcoded 11MHs/11XMG which makes 100%/50%

In 0.9.7 it will use hardcoded 22MHs/22XMG which makes it running at 100% if the connection to my hosting is unavailable (also a message will appear).

If just magid crash then the MHs value will be grabbed from one of the pools and the XMG/Block will be estimated on MHs.

Is there a way to implement your software logic into linux miner?
The linux legacy miner also supports CPU limitation, all we need now is a script or program to make the decision making for CPU efficiency on linux miner...
Can this be done?

I think the best option would be to modify the legacy miner and make it manage the the cpu usage internally. But I'm not good enough in C++ and totally lame in linux.

The hashrate & block value are not available in the stratum protocol. I use my host:
http://xmg.makejar.com/hp.php?v=0.97

Where v is the app version (I may change the number of params returned for the next versions).

The result is simply HashRate|BlockValue

Don't flood me. I call it once per 2 minutes. But actually the BlockValue changes very slowly, even once per 20-30min should be good enough.

Make sure how you will manage the cpu usage if my host is not responding etc.

sethminer14

member

Activity: 98

Merit: 10

I was just wondering how many coins I could expect to mine with an with a fairly decent cpu, like an old I7 i think its a 3700. Is it profitable at all?

th3.r00t

sr. member

Activity: 312

Merit: 250

Quote from: NeedIfFindIt on January 17, 2015, 03:55:36 AM

Quote from: joelao95 on January 16, 2015, 09:47:53 PM

Quote from: NeedIfFindIt on January 16, 2015, 11:47:57 AM

Thanks for the advice and for including magid

Got new version based on:

Code:

[blockvalue] => Array
        (
            [difficulty-V2] => x.xxxxxxxx
            [blockvalue] => xx.xxxxxxxx
        )

Targeting at least 12 XMG block value for the full speed (with hope that this will almost cover the energy cost soon).

Download link:
http://xmg.makejar.com/download/sweet-spot-0.9.6.zip

Screenshot & More details:
http://xmg.makejar.com/

Nice, I've added the miner to the OP. A question, is the miner using the reward information from your hosted magid? what happens if the site gets offline, will that be problematic to running the miner?

In 0.9.6 it will use hardcoded 11MHs/11XMG which makes 100%/50%

In 0.9.7 it will use hardcoded 22MHs/22XMG which makes it running at 100% if the connection to my hosting is unavailable (also a message will appear).

If just magid crash then the MHs value will be grabbed from one of the pools and the XMG/Block will be estimated on MHs.

Is there a way to implement your software logic into linux miner?
The linux legacy miner also supports CPU limitation, all we need now is a script or program to make the decision making for CPU efficiency on linux miner...
Can this be done?

Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 1057. (Read 2375939 times)