Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 798. (Read 2375972 times)

guys
cloud2b.de is down for me, what happened.

price is going down every days.... make me want to sell all my magi coin

guys
cloud2b.de is down for me, what happened.

price is going down every days.... make me want to sell all my magi coin

I can get excited about being POS only so that miners can't take advantage of the network.  

I am not supportive of increasing the POS % however, the goal should be for securing the network and processing transactions rather than lining bagholders pockets.

How about option 4) Go PoS only.  Add a block reward cap and other inflation control measures patterned after a coin like Hyperstake.  Or option 5) PoS only with something new like have a percent of the PoS block reward be sent to a common fund to be used to promote the coin.  Only a board of directors voted in by the community based on their holdings could have access to the common fund.  We could use the common funds to make tee shirts, drink holders, pay for development work, entice new community members, bribe/lobby congressmen, ...

How about option 4) Go PoS only.  Add a block reward cap and other inflation control measures patterned after a coin like Hyperstake.  Or option 5) PoS only with something new like have a percent of the PoS block reward be sent to a common fund to be used to promote the coin.  Only a board of directors voted in by the community based on their holdings could have access to the common fund.  We could use the common funds to make tee shirts, drink holders, pay for development work, entice new community members, bribe/lobby congressmen, ...

Hi all,

my opinion is:
good for option 1,
ok for option 2
very bad for option 3 (i'm playing with yescypt from a long time...)

I see a lot of additional idea, like anonymity (i2p,etc), different db for wallet speed up, masternode,instant transaction,etc. but change the algorithm into yescript maybe not the best deal.

Yescrypt made for a different usage, with different machine, different power and not for CPU coin.

But this is only my opinion.

Regards

this makes sense for me, but what about all those buldozers that will mine it only to fu*k the block rewards, this will really solve it? i mean even if is more profitable with CPU after the algo change, they will loose hash power?

I think that if the stake rate is increased in a way that is consistent with the goals of Magi it could actually help reduce the current inflation from over PoW mining.  This could be done by improving PoS-II into PoS-III, which should reward smaller holders the most.  The stake rate should go up the most on small blocks.  I think 10% for any block under 100 XMG wouldn't be too generous, while 100-500 XMG could stake at 7.5%, 500-2500 at 5%, and any block over 2500 at 2.5%.  I get a lot of stakes from small blocks, and the reward is often 0.02 XMG for anything small, and around 0.15 XMG for a 2000 XMG block.  This is much less than any PoW block, and could be safely increased without causing inflation.  Being able to set the split threshold would also make staking much easier.

If we want Magi to stay a CPU only coin, changes to the algorithm should be made, if only as a preventative measure.  Even if the miner that turns on 48 MH/s isn't using GPUs, that doesn't mean that one couldn't be developed in the future.  If it can be done, it will if the profit motivation is there.  I would prefer that changes were made to the existing algorithm to make it more GPU resistant, instead of basing it off of something completely different.  Maybe M7M2?  This should only be done after there is an optimized CPU miner that is ready to go so people only have to download an update to the Sweetspot miner, which would be easy for the common user.

You don't need to clone the algo - as a matter of fact, take the opportunity to tune the parameters of the KDF to your liking. While GPU miners for it are obviously possible (as for M7M), the gap in between CPU and GPU is at least currently barely existing - factoring in power makes it look even better to mine on CPU. This is about as close as you'll ever get to your stated goal - i.e. GPU mining impossible.

Hmm nice to see the ideas. Think Magi has to look into those options. So there is option 1) M7M with PoS-III and more adjustments option 2) KDF option 3) yescrypt. Or are there more good options?

Hmm nice to see the ideas. Think Magi has to look into those options. So there is option 1) M7M with PoS-III and more adjustments option 2) KDF option 3) yescrypt. Or are there more good options?

Thought about master nodes, but didn't yet look into it. What is I2P in details? Algo thing mentioned in another post.

Thanks for the input about master nodes. Exactly one of the disadvantges of PoS, rich getting richer; PoS-II is supposed to do something along that; it would be needed to take cautions to increase interest in a straight way. I believe people should be aware of that when generic gains shares easily, there exist people who can get more share much quicker than rest of us, like the PoW mining things.

I disagree. It will cause only confusion. People still confuses groestl^2 with groestl-myr. If it is called the same, it must be the same.

But I'll agree the KDF of yescrypt has... some very interesting properties.

Are you trying to stop an action, or a state of mind?

You don't need to clone the algo - as a matter of fact, take the opportunity to tune the parameters of the KDF to your liking. While GPU miners for it are obviously possible (as for M7M), the gap in between CPU and GPU is at least currently barely existing - factoring in power makes it look even better to mine on CPU. This is about as close as you'll ever get to your stated goal - i.e. GPU mining impossible.