Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 816. (Read 2375972 times)

Thanks Ex33s! Great thing you keep the poolinfo.coinmagi.org up to date.

Pool has been added to http://poolinfo.coinmagi.org/

Thanks those are nice words.
I will contact you pm.

Thanks for the nice words!

Gosh, I'm breaking out the popcorn here, when are you guys going to start slinging the mud-balls, spitting lightning bolts and generating angry fireballs?  (Its getting almost as entertaining as the Nocoin, err Neucoin forum.)  Just kidding, please don't do that, wars are bad and really not entertaining.

I'd like to add that we do have a nice safe public ledger built that can provide low cost transactions and reward people with very little barrier to entry.  It does not encourage the massive over mining that other cryptocoins do and should save considerable energy by comparison; I'm personally not that concerned with the PoW hash rate or potential GPU issues, but it does give some entertaining things to talk about.  Pricing and number of exchanges are looking very nice for as young as the coin is; it feels like we should be giving each other a pat on the back and saying “job well done”.  

No worry. The world is full of PPL trying to prove something.

Just yesterday someone has turned 5 BTC (1200+$) into dust clogging the BTC network for good 3-4 hours.

Everything starts here ... and continues in 15k txs.
https://blockchain.info/address/1AnM5CxNa4TCsPGuok67F4DHQqGs26MTHn

And all of this to get at top of the list (for 1 day)
https://bitinfocharts.com/top-100-busiest_by_transactions-bitcoin-addresses.html

Was he able to crash the BTC blockchain?
- No ... but the bitcoin blockchain got at least 28MB of (stupidity) history.

---

I'm sure sooner or later bulldozers will get bored since flooding the POW does not result in higher XMG price as expected ... so it is double loose for them (low reward + low price). In all other coins it would be exactly the opposite.

Man, FUD? Is that your argument? I don't even want to cause that, I'm even supporting this coin mining with CPUs. I have started giving some recommendations and the problems it might have, now you all staff have turned this into a war. But hey do what you want I said I won't talk anymore about that.

It seems like you don't like the 5 points I've posted before, explaining what can a GPU miner can do here...
Maybe they bother your hidden agenda...

Anyway to the point.


Please do enlighten me, how can the bulldozers can control MagiCoin when PoW is 33%?
All they can do is drive the diff up and reduce block reward do dust.

Here is an example:


So what? For how long they can keep that up - mining for dust, just to prove some point?


For that part I will repost something that is on the OP of this thread:

That sums it up.

When I linked you to a same graphic, maybe you are confused?


I've said it before - so what will happen?
Blocks with 0.055XMG value? Me and the other members, emotionally involved in Magi will just stop mining for a while with CPU
and wait for GPU farms that don't care for profit (that sounds so ridiculous) to go bust, because that will happen if you run GPU farm not caring for profit.

Magi community is always trying to respect everyone's opinion and be friendly,
but you my friend are just trying to cause FUD inhere.

Please do try to read and understand the Magi and it's unique features.

Like we all do, good luck!

Register is open!

Who talked about being profitable? Do you think having a GPU online for 24 hours is a problem? I could have one online, and still don't profit but do I care? No, because some people didn't invest in this coin.

It's not about profit, it's about bulldozers. They can easily control this coin difficulty with just 1 GPU. They don't care if the don't profit, just leaving all of us without XMG.

And finally, what's the point of a CPU coin without PoW? And M7M? Think about that for a moment and then reply with other statements instead of linking me the same graphic everytime.

But I won't talk about that anymore. I will just mine with CPU and wait for what I'm saying.

I agree - XMG block reward system is easy to understand: like the.r00t said - mine smart, not hard
there are also many posts with graph that spexx uploaded which explain how it works, so I'm 100% sure that these hard miners are just dumb assholes / greedy(bad) ppl who wants to do bad things.

it's gotta be this, c'mon ppl, xmg block reward system is not astrophysics.

Sorry for being a ghost these days, I have lot of stuff going on and my eyes are giving me more concerns than usual.
Btw,
I don't think the concept of XMG block reward system is hard to get, I really believe that some people just DON'T want to understand.
If you drop to much hash power, you'll get nothing, end of story, BUT there's a lovely multipool that can be used if someone really need to switch on these flaming bulldozers from hell.

Drop in all the gpu miners you want.
Enjoy your electricity bills

^^ Well said mate.

The unique XMG block reward system takes some getting used to, but I see it as a model that could be adopted by many cryptocurrencies in future. In this recent hot weather here in London, I have actually been rather relieved when the SweetSpot limiting kicks in because it means less heat generated in my "office". It was 33 degrees C in here a moment ago with everything running at max power, but the block rewards fell to 2 XMG (oh I wonder why that was) and things are cooling down.

Expect the block rewards to increase again in about 10 hours time, if the previous pattern is repeated.

Reading the recent post I start to get the feeling that MaxDZ8 and LordCoder are trying to convince the community that CPU mining
is bad and obsolete and we all should switch to GPU mining (hidden agenda here?!?!?   ).

They are trying to draw a picture with public GPU miner mining XMG, and how we with our puny CPU's will be swept away from the GPU's big hashrate.

That will be so true if we are talking about any other PoW coin, but we are talking about Magi here.
There is one simple rule with Magi XMG - mine SMART, not hard.

Lets assume that there is a GPU miner released to the public (definetely not free) and what the effects will be on Network and Block reward:

1. Everyone not familiar with XMG's Unique network-dependent rewarding system will jump in with their GPU's driving the network hashrate to say about 500 Mh/s;
2. With network like that (500 Mh/s) the block reward will be quickly reduced to values of 0.055 XMG (see Magi Block Reward Plotter);
3. The CPU miners will go off or in limited state - power efficient mining with the Sweet Spot Magi Miner and my script for Linux OS's;
4. We will have our network secured for almost free - GPU miners will mine PoW block with reward less than PoS blocks, and they will pay the power bill  ;
5. Everyone that have been here and understand MagiCoin will just switch off their PoW miners and rely on PoS (~66% of the blocks);

After a while we will have GPU miners away from network, just because 0.055 XMG per block will never be proffitable for them.
They will have losed all BTC paid for GPU miner and power costs and have almost nothing in return from GPU-mining XMG's.

All that have switch from PoW to PoS in these hypothetical GPU mining days, will have more coins made for day, just by staking than all GPU farms hardmining.

I'm confident in Magi's future whether you or someone else releases GPU miner for M7M, just because it is useless for this great coin!

So all your GPU/CPU wars comparing hashrate, power, efficiency and so on, have no point here because everything more than 250 kh/s per miner is waste of resources whether CPU or GPU.

Ah.. I hadn't had my morning cup of tea yet

It was irony. See the quote above:

Just to chime in, but this is not true. All CPU have dynamic power modes and halt states which limit the power draw when not under load. If you measure the power draw at 0 / 50 / 100% CPU load you will see a difference at the wall

Same as loading GPU.