This is one of few cryptonote coin left. If those guys with big mining farm come in now as we can see them doing recently, all the small miners are going to be sidestepped! How do we protect loyal CPU miners?
Good question. Thats very difficult. During this period Magi has a unique blockreward system what will drop the when huge miners join in. If the small miners wait for the big miners to leave the blockreward will go up.
Only reason why huge miner would stay if they have free power so they have profit with low blockreward. Other huge miners don't get enough coins to give them profits.
They will leave and mine other coins.
I appreciate and support that XMG is trying to be a coin for all and not to favor big miners. Although i also agree that the current adjustment made a few things worse but i think its still a work in progress. Generally the new rules made it more profitable per hash but then again the total hash per reward has also increase making big miners swarm like flies on the coin.
Longer adjustment period make this big miners come in when profits are high and leave when its low. It is easier to do so now more than before because adjustment has become slower. Im not saying the recent adjustment are wrong im saying still need some fine tuning which is expected since it is a unique system. But i also awknowledge that previous rules were actually more profitable compared to the last 2-3 days. Hashrate has increased by probably 10x than what it used to.
With a system that is predictable and slow to adjust it actually benefit the big miners by jumping in only when rewards are high and leaving when its low. Regular supporter of the coin that has stayed and mine this coin suffer most. Since they actually dont get much blocks when big miners jump in and they get most of the low reward blocks when big miners leave.
reasons why it benefits big miners.
1. slow rewards adjustment give time for the big miners to jump in when its high and jump out when its low.
2. higher total hash to reward gives semi big miners more incentive to permanently hash this coin.
im actually sharing my opinion to help the community so you can figure out how to solve it. Since the developer seem to want this coin to be mined by more individual rather than a few big farms then im sharing insights that might help. I have since reduced my miners and pointed it out to another coin. getting 3 coins a day from 10 coins a day just too much difference for me specially that total coins that are being mined has risen by a whole lot.
I get way less coins a day for the same hashrate when the total coins mined has increased by a lot. I still mine but only what i can spare. the rest i mine another coin.
