Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 197. (Read 2375939 times)

going near what  ?

http://i.prntscr.com/pXT7DfuxRY22AoU1rspjow.png

like the situation is it can go only to Zero

I think the large share he was talking about happened when the chain just came up. The difficulty and rewards hadnt changed yet to what they are now. It took multiple blocks for the higher diff and lower rewards to ramp up. Now they would get nowhere near that.

Just like if the whales went away now,it would take some time before the diff went down and rewards back up.

I dont understand. I was into bitcoin back when the first gen asics were supposed to ship. The fun left when my gpu didnt work well anymore. Like everyone, now I come back into crypto realizing that there seemed to be viable altcoins I could mine. Then, I found this coin about 3 weeks ago looking to put an old server to work to fuel my cryptotrading tuition. I haven't been around this coin long, but I dont understand the low hashrate thing.


I mean I understand why one would want it, but i dont understand how anyone expects it to work unless its somehow implemented in the protocol, not just an "honor" system. And is that even possible?

I mean the more people that follow these rules just makes it more and more lucrative for the cheats.  I have a server I gt for 120 bucks with two l5640's and hash out at around 12 threads at 8.5 or so K. Now if I throw my desktop at it as well, a 6700...am I now cheating?

Now if we agree hash should be low to save power, why not just go full POS? Just to keep it a "cpu" coin? So we justify burning some extra energy, just to stay a cpu coin? That's not energy saving.

i've sent a email to m-hash support, but the whale just got a warning....

have you updated to the latest version ? (1.4.5.3) , had same problem before

Still a 2.3MH/s whale in m-hash. I thought that pool was like the MAIN PoM pool? Is no one monitoring it at all?

I think Im done mining for good, once everything came back there is 200+MH/s now with the sweet spot being like 40-50? Pfft. Nothing but .25 xmg to split. I went from making 1-2 XMG a day to not ever getting .30/day. Not worth anyone's time unless theyre getting free energy.

The pool owner who posted said ~412 XMG the whales took, even at a .25/block payout, in FORTY FIVE MINUTES. That's 400+ bucks an hour, to one person, from one pool. I mean, cool they got tons of machines to use, but meh, Magi can't call itself green/ecofriendly any longer. If anything, this way they're burning MORE energy than normal.

Hmm ... maths. Let say network energy use, at optimal levels, is 100KWh. Now, let's assume 1 Block per half hour being found, that is 2 blocks/hour. This results in a max payout of ~40 XMG. That is a total of .4KWh/XMG.

Now, we're pushing GOBS of hashpower at the thing. Dropping 2 blocks, worth .50 XMG, for the same 100KWh. That is 50KWh/XMG, 50KWh of energy to find ~.35 cents of XMG ... All being ran 24/7. The entire chain will eat up YEARS of electricity and might even account for a small increase in global temp (Im talking hundredths of a degree, but a rise nonetheless.) IOW, not eco-friendly.

Anyone with this technical error?

Yep same issue...  Perpetually says next reward in 1 or 2 hours but never does anything.   
In fact never has.   I always get ignored when ever I ask anyone about it.

My wallet seem to still be not staking.
stuck at n hours to receive rewards.
should I delete and redownload the blockchain?

Thanks

 You are right.  there are ways around being banned and unable to use public pools.  Howerver, Enough people bind together, and raise the pools hashrate high enough, the farms will be unable to catch blocks.  If I have to drop support for all of the other coin I host, and make several stratums so that we stay under the speed limit per stratum so be it.  I will if enough people were to join in. I can always start another pool for the other coin. 
For those of you thinking, great idea but I wont win hardly any coin in the mean time. Your not winning anything now with .25 a coin reward, and it keeps getting smaller.

How about adding in a small Info box that could be used to display general messages to all wallets.
You know something like :

or
go direct for a name and shame approach....

You DO have a point.  They could do something.

That doesn't solve the whale problem though.

There are ways around public pools.  If there is enough profit in XMG, then they will make their own pool.

I don't think any coin has ever tried to put a cap on global hashrate and I don't know enough about the inner workings of cryptocurrency to know if that is even possible.

You can make it a little more difficult, but you aren't going to stop whales.

Maybe there is a better way to deal with it or even a way to utilize whales.  It just hasn't been thought of yet.

I wish every pool would do that.

So be it if they solo mine, at least those that could do something did.

This is what i mean by Pool can do something. So no one else says sh*t  saying pools cant do anything. cos if this pool can do something every other dam pool can. So its time for the other pools to grow some balls or man up and do something about the WHALES!!!!

XMG Hashrate Graph

http://178.17.174.27:8280/m-chain/json.php?d=graph&json=0&limit=500

Reply to comment asking a question on reddit

sburggsx • 1 point • submitted 4 hours ago
So looking at the page... roughly 3 hours between blocks?

cryptotastic • 2 points • submitted 4 hours ago
Because we won't tolerate farms, we need to get our node numbers and hash rate up. It will get better then.

Since the coin came back online, there are many many new farms running. Unfortunately probably because the coin is better known now from the hack and the hf. Everyone not just us are effected now because of one of three things.

1. Low hash % because of very high hash rate farms. (The first farm we banned was pulling 12Mh/s, stealing 90% of the block share. 412 coin
    in 45 minutes out of 510 from 1100 active nodes)
2. Block reward very very low
3. Difficulty highly elevated.

We are an honest follow the rules kind of pool, and hope that more miners join us that believe in the purpose of magi. With enough honest people mining together, we can take back the coin from the farms.

theses whale ppl dont care they are earning up to 3 - 5xmg a day.

worse thing is some of the whales are ppl in this very xmg forum!!!!!!!!

that what pisses me off the most!!

while we little ppl are barely earning 0.2xmg a day

the coin has been killed and no one is doing anything about it.

time to find another cpu coin

Expired SSL certificate it seems.

Works here http://bitcoingarden.org/forum/index.php?topic=4544.msg96599#msg96599

Scroll down there!