Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 750. (Read 2375995 times)

i made a vps miner for fun..
but i cannot understand why people mine this?
i cannot get any profit from this: time to setup miner cost me more than it ever makes coins to me.
vps cost more than magi makes.
cpu uses more power than magi makes you??
explain me please?

pure botnet coin?

The sweetspot miner (xmg.makejar.com) uses cpuminer v2 but can read the block reward information and adjust the cpu % based on the block reward.  It is MUCH more profitable to mine 20 XMG reward blocks then it is 1 XMG reward blocks.  Set it up so much less cpu is used for low rewards and have it go back up to 100% for higher block rewards.  I have my reward target set to 10 XMG and it seems like it still uses the higher cpu % if rewards are over 6, but when the rewards fall farther cpu usage goes back to 10%.

Let me just say that this Qt miner is just wondeful ! The UI is really well designed ! Good job  ! Would it be possible to add colours to the (yay!!!) ? Writting it in green could be cool and that way it could be easier for someone to quickly look if he submit a lot of shares or if don't.

No way, Bitcoin mining is not profitable anymore, even with free energy.
The price of the hardware is exactly calculated so that you will never get any profit.
Only, but only then, when the bitcoin price rises more fast than the big guys have calculated you can make a little profit.
Companies who build these miners have far more knowledge about the market than anybody else.
The components price of the miners is almost nope, their sales price is only related to the bitcoin profit.
Little thinking about : Why should a company sell you his miner when using own developed miner would be far more profitable?

Joe can add this one in the OP?

You are all right.
I see it as fun and as a hobby

But mining Bitcoin could be profitable depending on the energy costs and the hardware. But due to the high prices of profitable miners I'm not into it.

Anyone here knows what the Hash rate of an Intel Core i7 4790K is?

Mining XMG is non-profitable.
Mining any crypto is non-profitable.

So if you want to earn some money ...... don't mine cryptos.

Otherwise, you must see it as a hobby, pastime.
And we all know a hobby may cost some money.

Exactly, people see this as a money making scheme. Anyone has a CPU, therefore this makes anyone a potential miner. If all of us are mining, reward decreases.

Speaking of profits, I think all crypto mining is unprofitable. You can compare with any mining including ASIC, GPU, CPU, if you can find a one with nice profits, I'd be interested to know about that, especially CPU coins which are good for profits.

The truth is that, if there are profits from mining, people will make it unprofitable finally. Typically people mine coins and sell later. In a case that the strategy of yours that stopping mining is taken, because of the exit of miners, the mining goes towards profitable. You see, this is a contradiction. When it gets profitable, people mining it, and then towards the other way around. How unprofitable it is depends on how strong of confidence in this system (for example price rising in one day); the stronger in it, the less in the profits. I much like casual mining without too much concern on the profits, particularly in a daily base calculation, that would be stressful.

You can try overclocking (hardware) but that won't be good to the CPU imo.

One more question:
Is there any possibility to increase the intensity of the miner?

At the moment I use cpuminer v2 with the following instructions: minerd-x64-corei7 -a m7mhash -o stratum+tcp://xmg.suprnova.cc:7128 -u username.workername -p password.

It's using all CPU Cores at 100 %  but maybe there is a possibility to stress them a bit more?

CPU is a i7 3630QM Ivy Bridge

Awesome job Joe. Well done.
Are those also updated or added in the OP?

Think the blockreward is not high at the moment.
So it might give you better results when the blockreward is higher again.
And indeed Magi team will continue with awesome projects, campaigns and improvements.
That might give a nice boost to the value.
Also price was lower a few weeks ago.
Magi will release the android app this month.
 

Thanks for your help guys.

My miner is running since 12 hours now. My calclulation says it's doing 7-8 XMG / Day at 70 KH/s.

That's not as much as I expected it will be.

That would mean 440 KH/s would only make about 44 XMG / Day which is worth about ~ 0,50 Euro.
Energy consumtion would be 2,50 €.
That would mean that mining XMG is far from beeing profitable.


Even my notebook with 22 nm technology CPU has a power consumtion of 60 Watt at full load. Which means power costs of abou 0,30 Euro / Day. And has got an outcome of ~7,5 XMG which is worth 0,084 Euro.

So how could mining XMG be profitable?
Or do you guys all hope for a rising course?

As mentioned by fragilefungi, a convenient miner (ideally click & go mining) is a much need, and I believe that will get us more miners without painful compiling (notice if you compile from the source code, you might get a specific optimized miner only for your pc which might be efficient than the following compiled ones). Also, I compiled the miner with "-e" flag to adjust the CPU efficiency from inside the miner.

https://github.com/magi-project/m-cpuminer-qt
https://github.com/magi-project/m-cpuminer-v2

I have forked the code of ScryptMiner by Matoking (https://github.com/Matoking/ScryptMiner-GUI), which is based on Qt. This is very advantageous; we can add codes later on to adapt to the special block reward of magi, and design a smart miner with strategy mining. This will be a one in the to-do list. Here are the compiled binaries:

http://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-64-win.zip
http://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-32-win.zip
http://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-64-ubuntu.tar.gz
http://coinmagi.org/files/m-cpuminer/m-cpuminer-qt-macosx-10.7.dmg

There are also minerd available here: http://coinmagi.org/files/m-cpuminer:

http://coinmagi.org/files/m-cpuminer/m-minerd-64-win.zip
http://coinmagi.org/files/m-cpuminer/m-minerd-32-win.zip
http://coinmagi.org/files/m-cpuminer/m-minerd-64-ubuntu.tar.gz
http://coinmagi.org/files/m-cpuminer/m-minerd-64-macosx.zip

These are how the Qt miner looks like:

Notice "-e 60" in block "Additional parameters" in the above image adjusts the CPU mining usage, e.g., 60%. All the parameters are automatically saved into m-cpuminer.conf, in the same folder. The GUI basically makes use of the miner under folder "miner". If you can compile with a higher efficiency, please let me know. Please make sure you modify the pool parameters, or you will mine through my account.

This GUI is kinda similar to NeedIfFindIt's Sweet Spot http://xmg.makejar.com/, which will be better than this I believe; the advantage is that we can make it available for mac os and linux too, and most of other platforms because of Qt base. The linux version is statically linked, if you run into issues, let me know. I very much like the miner being compiled in low end/old system/pc. I believe magi's mining is useful in this aspect. I will get some details for the PoW. I do agree one mining a coin cares about the return, while I like the idea you place the miner with limited CPU usage, you can forget it (say 10% CPU): think about how many computers which run idle in the offices or other places for overnight, at least it's a waste of power. I am not encouraging you use an office PC for mining, but running a limited miner in a daily computer is quite doable, and that, from another point of view, is to save energy as they maintain a coin system provided that magi is useful at some extent and this purpose will be meaningful as well.

Estimated outcome is hard to predict with magi because the reward goes down as the difficulty goes up.  If there is too much network hashrate the rewards fall even if you throw more hash on it.  4 XMG - 80 XMG is probably a fair estimate.  Use sweetspot miner and you can set cpu usage targets for different rewards.  I wouldn't suggest mining 100% unless the rewards are high, but if you power is free you can.

Thats really cool amigo!
Thanks for the link.

CPU Coins:
http://cryptomining-blog.com/6090-crypto-coins-to-check-out-for-cpu-mining/

XMG, the only mentioned coin outside cryptonote coins!

Thanks theFix for your activity here!
Its great to see members helping Magi and eachother!