Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 1170. (Read 2375926 times)

A small company around here contacted me to explain them this crypto thing. I am supposed to give them a rough estimation of what they can produce with the few xeons they cannot manage to load (I think we're talking about 64 cores at most, for a few hours day).

Where can I find performance data?
I've seen some coins using google docs for this and I've been positively impressed with the usability.

As a side note, the proposed fork is a nice coincidence. I can tell for sure this will give me quite some troubles.

[M7M hardfork in testnet]

Here we are going a hardfork to be happening on 10/17/2014 8:00 PM EST [only testnet at this time]. This update enhances the CPU mining. We will be living with the new algo from now on. In my view, this new M7M will pretty make it very hard to implement GPU miners. A major change is the addition of a sequential algorithm with iterative numerical computation using GMP floating-point numbers. I will expect this disables any on-going efforts of parallel implementation. GMP floating-point numbers allow "infinite" accuracy while we have to compromise to a certain level to avoid largely depressing hash rate. Surely I've taken the chance to further "mess up" the things that makes CPU hashing quite straightforward, while GPU mining even hard and impossible. Our block-rewarding system will give great chance for CPU mining too. As a consequence of the algo changing and hashing hard, the hash rate has to be compromised somewhere. The hashrate of my AMD 8350 is reduced from 79.2 kh/s (built-in mining) to 28.5 kh/s, and my VPS is reduced from 22.5 kh/s to 9.1 kh/s.

Why CPU mining?

Because ... people like it! I received feedback that some people just happy with VPS mining XMG. Well this is not big deal regarding the mining earnings, but what if you use your VPS to mine bitcoin or litecoin? The most advantage of XMG is that you can always mine a few coins if you want and this can remain forever; will the same rule apply for other CPU coins? I don't think so; the conventional CPU coins have the growth pain because of the joining of big CPU mining farms. For XMG, we pretty make use of the new block rewarding system that avoids the coming of huge network hashrate.

So CPU mining is guaranteed?

I won't say this is 100% CPU coin, but will say 100% CPU minable. Check out relevant information, figure yourself.
https://github.com/magi-project/magi/blob/master/src/hash_magi.h

Are we safe?

Though the network hashrate has been pretty much limited, Magi is pretty secure, because of the hybrid PoW/PoS-II system. I will come back to the PoS-II part.

Instructions:

As aways, be sure to back up wallet.dat

Download binary wallets from here:
http://cryptomagic.com/files/magi-release/m7m-hardfork-testnet-v1.0.0.3/

Or compilation from github source:
https://github.com/magi-project/magi

The testnet wallet can be running with the mainnet wallet simultaneously.


Run daemon in tesetnet from the command line:

Check info:
Please take time to test it out and report hashrate before and after the hardfork, that will help us to refine the block-rewarding system once with the new algo. I will fire up the standalone miners soon later. I've already tested the hardfork in my side, so don't see any issues with that. After testnet, we will plug hard fork into the main net.

Planned hard fork in the main net: 10/24/2014 3:00 PM EST

If you're not intent to test the testnet hard fork, you won't need to do anything, also unnecessary to use the new wallet for the main net. 

Thanks you! Welcome to the Magi community.
 

Do you have the latest walletversion?
I use one computer and its working ok.
If its not working i restart the wallet and then is working again.

Wow!
Maybe it is your connection than!
Can you see what the internet connection (speed) per computer. I use fiber optic connection
My staking rewards take about 20 to 40 min.

I have not received a payment coinswap №2 ?
I was not given an answer!

staking everything is fine for me
everything works fine under linux without hands ))

for example, more than a month vericoin have to wait
start of payment (Interest Rate 2.26% APR ) 

Thanks for all the on going updates in the threads.

I'm willing to help in some ways that I can with this community of magi

now not 18hrs.. it's 1 day.

I've been away since around 2 weeks after launch.
Do I need to update my wallet, and if I stake on more than 1 computer with the same wallet, is there any benefit?

something weird from listransactions:
apparently after staking:


{
"account" : "",
"address" : "9NsUfu2Crir6u3m7LAW3h5CA2NtLVeCZq1",
"category" : "send",
"amount" : -314.62779640,
"fee" : 0.15779640,
"confirmations" : 142,
"generated" : true,
"blockhash" : "72ca2e06a8385b2701799d6927c91d28cefd46d1c04b695909f779634ccb58f1",
"blockindex" : 1,
"blocktime" : 1413483175,
"txid" : "8261ecd4641c234acbaf540a37f4533124959b5665e159545e0ba4687137a35f",
"time" : 1413483175,
"timereceived" : 1413483175
},
{
"account" : "",
"address" : "9NsUfu2Crir6u3m7LAW3h5CA2NtLVeCZq1",
"category" : "send",
"amount" : -314.61000000,
"fee" : 0.15779640,
"confirmations" : 142,
"generated" : true,
"blockhash" : "72ca2e06a8385b2701799d6927c91d28cefd46d1c04b695909f779634ccb58f1",
"blockindex" : 1,
"blocktime" : 1413483175,
"txid" : "8261ecd4641c234acbaf540a37f4533124959b5665e159545e0ba4687137a35f",
"time" : 1413483175,
"timereceived" : 1413483175
},
{
"account" : "",
"category" : "generate",
"amount" : 629.23779640,
"confirmations" : 142,
"generated" : true,
"blockhash" : "72ca2e06a8385b2701799d6927c91d28cefd46d1c04b695909f779634ccb58f1",
"blockindex" : 1,
"blocktime" : 1413483175,
"txid" : "8261ecd4641c234acbaf540a37f4533124959b5665e159545e0ba4687137a35f",
"time" : 1413483175,
"timereceived" : 1413483175
}
]
all that for 0.15xmg ?  
 629-314.6-314.62 ~0.15xmg... nothing more simple ?
(will take forever to upload the blockchain in 6 months...)

I don't understand why the minted coin corresponds to the transaction fee...

Here is more information about mining Magi (XMG)

https://bitcointalksearch.org/topic/ann-proof-of-mining-campaign-xmg-magi-1st-pos-ii-tor-m7m-cpu-only-802681

What those people are using for mining, they have Mega and mega for CPU mining?

I did not know much minen and staking.
But I'm curious.
If you stand on the two hammers in your wallet what is the weight? The reason may be the connection?
Multiple computers that need to use the same connection!
If it is a stupid question please forgive me.

Well.. i transfered all coins to other wallet(pc) 3 days ago and till now i got one transaction of 0.13coins from staking. Next reward is constantly in 18hrs.

This looks weird.


This can be done, while I am wondering the 1% interest rate that was used by blackcoin. 

I haven't noticed any problems during staking, however, the reward amounts are very low.  I would suggest raising the interest rate.  I think this will make the coin more enticing for investors to hold it and reward people more who keep their wallet open and help maintain the block chain running PoS.  There is a certain amount or risk  and effort involved with maintaining a wallet running PoS and higher rates help keep everyone interested in the coin imho.  Someone else posted this out once but I feel it is worth repeating: CrazyLoaf's CrazySteak(TM) High PoS Investment Journal     
 

Wallets have some problems during staking.
Sometimes is was not working and sometimes it works fine.

How bad it is?

I have a coming update on the algo, and then will come back to PoS. Provide me details how PoS-II is going? Too less rewards? Any suggestions, a high interest?

Have your coins reappeared yet as Joe suggested? ? I have not had any stake rewards myself now for about 40 hours uptime.