[ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 740.

goldlabel

hero member

Activity: 575

Merit: 502

Quote from: 111magic on October 26, 2015, 01:24:47 PM

Quote from: Erkallys on October 26, 2015, 01:07:01 PM

We've already 35 officials vote in the DirectBet poll ! That's as much as Blackcoin has Wink

! Keep voting guys, that would be awesome if we could have a gambling site !

Thats great! With the newbie account Magi has already 38 votes i think.
Here the link again: https://bitcointalk.org/index.php?topic=393147.6360

Just tested the new update of the magi app, wow great job bauerj Cool

111magic

legendary

Activity: 1750

Merit: 1005

Quote from: Erkallys on October 26, 2015, 01:07:01 PM

We've already 35 officials vote in the DirectBet poll ! That's as much as Blackcoin has Wink

! Keep voting guys, that would be awesome if we could have a gambling site !

Thats great! With the newbie account Magi has already 38 votes i think.
Here the link again: https://bitcointalk.org/index.php?topic=393147.6360

Erkallys

legendary

Activity: 1120

Merit: 1004

We've already 35 officials vote in the DirectBet poll ! That's as much as Blackcoin has Wink

! Keep voting guys, that would be awesome if we could have a gambling site !

111magic

legendary

Activity: 1750

Merit: 1005

Quote from: joelao95 on October 26, 2015, 11:49:14 AM

In my view, the block system worked. Ideally the reward should get back to the higher value right now to benefit the normal miners. This needs to be improved; the much varied difficulty basically makes the adjustment out of expectation in some conditions. What I can see is that, coins mined with big hasher are 10 times less than that without big hasher (it's like the network stops to generate coins); in other words, the majority of coins are shared among the normal miners. I think this is a good merit to the system overall, and helps stabilizing the price too.

Yes thats correct! Thats the beauty of the unique Magi blockreward system. Well done!

Erkallys

legendary

Activity: 1120

Merit: 1004

That's sad that we've been at 0 XMG/block near all the day Sad

. I haven't been able to mine.

joelao95

legendary

Activity: 1190

Merit: 1009

Coin of the Magi!

In my view, the block system worked. Ideally the reward should get back to the higher value right now to benefit the normal miners. This needs to be improved; the much varied difficulty basically makes the adjustment out of expectation in some conditions. What I can see is that, coins mined with big hasher are 10 times less than that without big hasher (it's like the network stops to generate coins); in other words, the majority of coins are shared among the normal miners. I think this is a good merit to the system overall, and helps stabilizing the price too.

joelao95

legendary

Activity: 1190

Merit: 1009

Coin of the Magi!

Quote from: Scarfmonster on October 26, 2015, 08:38:52 AM

We just passed 230 Mh/s, this is definitely not good.

Obviously dropped down back to normal values.. This was a nice test...

111magic

legendary

Activity: 1750

Merit: 1005

Quote from: mozsi on October 26, 2015, 10:14:30 AM

It is clearly written in the OP that mining Magi only worths it if total hashrate is in a certain range.
What is so hard to udnerstand about it?

You are right about this mozsi.
People pls read the OP.
But also read the latest posts.
Our dev asked in different posts for your opinions.
Also give the team more info about big miners.
Not only the hashrate but also the pool-name and pool-nick. Like cc90cc, he did not know the Magi unique blockreward system. After contact and telling him about this hè posted in the OP.
So reading the OP and posts are important.

If you are mining Magi for gaining fast money than things could be disappointed. Magi is a long-term currency with an awesome and growing community.
The new developments like the coming Magi android app, new Proof of Interest campaign and other developments and campaigns will help with the grow of Magi. In the past time Magi achieved a lot and the Magi team and community will continue with that.
Everybody is welcome to join and try the different mind-set of mining Magi.

111magic

legendary

Activity: 1750

Merit: 1005

Quote from: jtraverso on October 26, 2015, 07:55:22 AM

Any update on POM Rewards?

Quote from: 111magic on October 14, 2015, 02:17:25 AM

Quote from: bluedeep on October 14, 2015, 01:01:20 AM

Any chance to get paid for the last mining campaign?

Right. I send you a pm.

mozsi

member

Activity: 113

Merit: 105

bunny

It is clearly written in the OP that mining Magi only worths it if total hashrate is in a certain range.
What is so hard to udnerstand about it?

1337leet

hero member

Activity: 1308

Merit: 508

I have a single user with 50 MH/s in my pool. I'm out - bye bye.

Scarfmonster

newbie

Activity: 6

Merit: 0

We just passed 230 Mh/s, this is definitely not good.

jtraverso

newbie

Activity: 31

Merit: 0

Any update on POM Rewards?

Quote from: 111magic on October 14, 2015, 02:17:25 AM

Quote from: bluedeep on October 14, 2015, 01:01:20 AM

Any chance to get paid for the last mining campaign?

Yes it will happen next week. All miners joining the Proof of Mining will receive their reward.

111magic

legendary

Activity: 1750

Merit: 1005

Quote from: cc90cc on October 25, 2015, 10:08:15 PM

Quote from: feldenthorne on October 25, 2015, 10:02:47 PM

Quote from: cc90cc on October 25, 2015, 09:46:40 PM

testcc90cc   38,801   106.919
Confirmed   954.467146
Unconfirmed   9.501803

I don't know why big share mining but only a little...

Are you asking why such a large hashrate is producing so few coins?

The block reward adjusts according to the network hashrate, rising to a certain point, then quickly dropping if the hashrate gets too high. You can check out a plot of the block reward function on this site. Just keep in mind that the reward calculation is based on the hashrate over time, not the instantaneous hashrate.

got it!
thanks

Thanks for checking out the thread cc90cc.
Magi already thougth: What might be the reason this miner uses a huge hashrate.
Indeed the blockreward depends on the hashrate.
The higher the hashrate the lower the blockreward.
Minnig Magi is different than mining other coins.

cc90cc

newbie

Activity: 8

Merit: 0

Quote from: feldenthorne on October 25, 2015, 10:02:47 PM

Quote from: cc90cc on October 25, 2015, 09:46:40 PM

testcc90cc   38,801   106.919
Confirmed   954.467146
Unconfirmed   9.501803

I don't know why big share mining but only a little...

Are you asking why such a large hashrate is producing so few coins?

The block reward adjusts according to the network hashrate, rising to a certain point, then quickly dropping if the hashrate gets too high. You can check out a plot of the block reward function on this site. Just keep in mind that the reward calculation is based on the hashrate over time, not the instantaneous hashrate.

got it!
thanks

feldenthorne

full member

Activity: 206

Merit: 100

Quote from: cc90cc on October 25, 2015, 09:46:40 PM

testcc90cc   38,801   106.919
Confirmed   954.467146
Unconfirmed   9.501803

I don't know why big share mining but only a little...

Are you asking why such a large hashrate is producing so few coins?

The block reward adjusts according to the network hashrate, rising to a certain point, then quickly dropping if the hashrate gets too high. You can check out a plot of the block reward function on this site. Just keep in mind that the reward calculation is based on the hashrate over time, not the instantaneous hashrate.

cc90cc

newbie

Activity: 8

Merit: 0

testcc90cc   38,801   106.919
Confirmed   954.467146
Unconfirmed   9.501803

I don't know why big share mining but only a little...

joelao95

legendary

Activity: 1190

Merit: 1009

Coin of the Magi!

Quote from: lordmick on October 25, 2015, 08:38:26 PM

is it possible to make it POS only? we should for now..
its almost already it.. less than 0.65XMG/block

In my opinion, this isn't a good direction to go (I remembered pure PoS posts before back a few pages). PoW & PoS is most energetic imo.

joelao95

legendary

Activity: 1190

Merit: 1009

Coin of the Magi!

Quote from: 1337leet on October 25, 2015, 04:57:00 PM

You guys tell me you will work on it since days... what about doing it and not just talking about it?

Mining is just a hobby - but no one will burn money for nearly no reward!

2 options in my eyes:
...

Your suggestions are appreciated. Unfortunately I burned my time a little bit, I'll try to work on it as soon as I can.

Quote from: 1337leet on October 25, 2015, 04:57:00 PM

1: Set a maximum of 60 MH/s Net-Hashpower - new miners have to wait until old ones stop mining

We do have a maximum right now; or you're speaking of other approaches for the limiation I'm not aware of?

Quote from: 1337leet on October 25, 2015, 04:57:00 PM

2: Change the way how the reward is calclulated. It doesn't make any sense to lower the reward if the hashpower increses. All the other coins don't have such problems with the net-hashpower... so do what they do.

I'm afraid there is a concern by switching to this; we'll end up at huge network hash by the time, and people would not be able to use handy devices to mine. Bitcoin is an example.

Quote from: 1337leet on October 25, 2015, 04:57:00 PM

At least and as the easiest solution... just set a maximum of 300 KH/s for each mining worker. No single CPU has got more than 300 KH/s. Everything above must be GPU or something else.

I have no clue of setting maximum for individual, it is only the network hash that is seen.

Lightsplasher

sr. member

Activity: 371

Merit: 250

Quote from: lordmick on October 25, 2015, 08:38:26 PM

is it possible to make it POS only? we should for now..
its almost already it.. less than 0.65XMG/block

If we made it PoS only I would raise the block reward. Possibly we could even do something fancy like adding a “Pay it Forward” type block reward where you could earn an additional reward if you gift part of your reward to somebody else. We could do this by adding signing on the block explorer (like the hyperstake rich list http://www.presstab.pw/phpexplorer/HYP/richlist.php) so that a neutral third party could verify that the addresses appear to be controlled by different members of the community. I'm trying to put something together to support this on a block chain that can do contracts.

Please see: http://lightsplasher.com/2015/pay-it-forward/ for more details.

Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 740. (Read 2375995 times)