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Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 848. (Read 2376080 times)

sr. member
Activity: 350
Merit: 250
Mining Co-operative
For anybody who has recently gained the status of Jnr Member or above, please take a look at the poll for the XMG currency symbol here:-

https://bitcointalksearch.org/topic/poll-currency-symbol-for-coin-magi-xmg-994840

We need a lot more votes before the prize can be awarded. Donations to the prize fund can be made to this non-staking address:-

XMG:   97bVCnhx8QmPJQFekK9wXuAvGSzhtSEXkp

Many thanks Smiley
sr. member
Activity: 350
Merit: 250
Mining Co-operative
Hello,
I'm new here 111magic told me to create an account, so here I am.
Goldlabel told me to use only 5% of my mining power but I don't know if 5Mhs will be enough Cheesy Cheesy,
hope to hear from you soon what I should do.
Kind regards. Grin

Welcome to this Magical community Smiley

That's a very powerful burner you have there. What is the coolant? Liquid Helium?  Grin
hero member
Activity: 714
Merit: 500
Goldlabel told me to use only 5% of my mining power but I don't know if 5Mhs will be enough Cheesy Cheesy,
hope to hear from you soon what I should do.
Kind regards. Grin

You should lend me some of that extra mining power Grin

jr. member
Activity: 51
Merit: 1
when's the android wallet planned for???
member
Activity: 81
Merit: 1002
It was only the wind.
5000 KH from one person on one of the pools

Someone isn't playing very nice

Someone always finds a way to beat the system

Yep I spotted them earlier. They have not beaten the system at all. The system has already responded by reducing the block reward to peanuts.

There just isn't the headroom available now to support a bulldozer trying to muscle-in. If you look a few posts back I posted a graph of the XMG block reward vs hashrate. Without the bulldozer we were running at around 42 Mh/s total hashrate, which is right on the point where the downward slope of the graph reaches a maximum gradient. Anything above that (magic) number will have the XMG block reward plummeting towards zero very quickly - which just happened a few minutes ago.

My machines use SweetSpot targeting, so it has reduced my hash output and I am saving energy until the block rewards rise again.

Not hard to beat the system. With 51%, you can orphan others' blocks. So I simply whip up a GPU miner, and with a very small number of cards, less than 20, likely, I can orphan you all to oblivion while getting ALL the block rewards - as long as I keep my hashrate under a certain threshold.

Nice, I had a feeling that was some GPU action going on

I like to see flaws exposed for the betterment of the community.

I am guessing a decent GPU can pull 200-250 khs and probably has room for even more improvement?

Sweetpot keeps you at an optimal level and basically allows you to hijack the network which is a very cool way to keep the price up and make sure you always get the lions share of mining. Nice work!

How would you fix that issue?

I haven't made one, but I know someone who has. I would estimate hashrates quite a bit higher than that.
hero member
Activity: 575
Merit: 502
Hello,
I'm new here 111magic told me to create an account, so here I am.
Goldlabel told me to use only 5% of my mining power but I don't know if 5Mhs will be enough Cheesy Cheesy,
hope to hear from you soon what I should do.
Kind regards. Grin

its abit low, but you need to start somewhere Cheesy
newbie
Activity: 8
Merit: 0
Hello,
I'm new here 111magic told me to create an account, so here I am.
Goldlabel told me to use only 5% of my mining power but I don't know if 5Mhs will be enough Cheesy Cheesy,
hope to hear from you soon what I should do.
Kind regards. Grin
member
Activity: 81
Merit: 1002
It was only the wind.
Not hard to beat the system. With 51%, you can orphan others' blocks. So I simply whip up a GPU miner, and with a very small number of cards, less than 20, likely, I can orphan you all to oblivion while getting ALL the block rewards - as long as I keep my hashrate under a certain threshold.

You make it sound easy, but I'm quite sure that you know that even a 51% attack is only theoretically possible and only has a chance of success i.e. it is by no means certain that you can get the rest of the network to cooperate with the attack.

Furthermore, you have the POS blocks to complicate matters in a hybrid blockchain and they are generated more frequently than the POW blocks.

In addition, if you were to attempt a 51% attack you would need around 50+ Mh/s . This would make the total hashrate around 100 Mh/s and the block rewards would be dust. You can mine as many of those as you like and it wouldn't make a dent.

In conclusion then, yes it is theoretically possible, but there would be no reason for doing it for the money.

Nice to see you on here again Wolf0. I named my latest machine build after you Wink

51% attacks are not only THEORETICALLY possible, they are certain to succeed once 51% hits. You're right about the rest, though.
legendary
Activity: 1568
Merit: 1000
Twitter @Acimirov
Magi (XMG) keeps going on with awesome developments!
With the great support from theFruitsClan a new project will be in progress!
If you have a special request just post them here.



 Grin Grin Grin

To ask the community for their favorite game TheFruitsClan will make a form where you can tell us what's you're favorite game!

Hi you all,
i want to ask you to fill out the from, we want to make some gameservers for you and we want to know what game would you like to have.
http://www.thefruitsclan.nl/index.php/nl/?option=com_content&view=article&layout=edit&id=108

thx Wink

Voted!  Well, voted for CS:S and CS:GO if that is allowed...but did my vote go through?  There was no confirmation.  Put up a results chart!

BTW, I'll message you or hop on TeamSpeak in the next hour or so, if that's okay.  Doing some work from home because of my injury Undecided



Nice, Pick your favorite!!  Wink


XMG coin of Magi
Counterstrike Source
Counterstrike go
Team Fortress 2
Others


Community new options for Magi pick the game you like!!!  Smiley
sr. member
Activity: 350
Merit: 250
Mining Co-operative
You seem to have missed an important part of my post: my miner is running on Linux and I can't use sweetspot.
I switched back to using all my cores and I guess I will have to rely on you guys to throttle the network's hashrate :-/

Yes I did miss that bit lol Cheesy

I guess Windows people are a bit ahead with that. Maybe we have some Linux gurus among us who might pick up the challenge on that side.
full member
Activity: 139
Merit: 100
Hi everyone,

I'm wondering if there is a way to know the optimal hashrate WITHOUT using SweetSpot.
The miner is running on my linux dedicated server.

Right now, I've limited it to 2 threads, which gives around 26kH (just because 22 is the default value for SweetSpot). But how can I know if it is enough? Or too much?

I do believe that you have misinterpreted the way Sweet Spot is designed to work.

The default limit (better referred to as a threshold) of 22 Mh/s (note Mega hashes not Kilo hashes) refers to the total network hashrate, not to your miner output.

The idea is to let your miners full at full power UNLESS the XMG block rewards are too small to be worth mining, so as the save wasted effort and electricity costs

AND

restrict your miners to low power while block rewards are low UNLESS the network hashrate is very low, which might indicate that a) the network needs more support or b) the block rewards are going to go up again very soon (which is the most likely scenario).

I advise you to read that several times to understand the logic of it. You should just run your miners at full power and let Sweet Spot take care of the rest of it for you.

Right now for example, the XMG block reward is about 4 XMG and the total indicated hashrate is about 35 Mh/s (while the true total hashrate is around 42 Mh/s). The way I have my Sweet Spot configured means that my processor is only running at 20% of maximum output while the block reward is this low. Once the block reward goes above 5 XMG then my output will increase a bit and if the block reward goes much higher than that, my output will be 100% full power.

Hope this helps.

OK, thanks for the explaination. I confused the network hashrate with my own. Understood now.
You seem to have missed an important part of my post: my miner is running on Linux and I can't use sweetspot.
I switched back to using all my cores and I guess I will have to rely on you guys to throttle the network's hashrate :-/
legendary
Activity: 1750
Merit: 1005
https://bitcointalksearch.org/topic/your-top-5-cryptocurrencies-2015-version-1079851

Just post this topic here for your (all Magi community) information.
I will not ask our community to post or vote because it is not the first topic with this subject and also not the last!!!
 Grin

lol without reading ur post we share 3 of 5

Radomly: Bitcoin, DMD, Monero, Doge and for sure Magi (XMG)

Here is also a poll you guys might like  to check.
https://bitcointalksearch.org/topic/speculate-which-altcoin-will-eventually-reach-parity-with-btc-1071351

DMD Diamond: 2 years on market, no premine, no IPO, fair coinrollout, high POS rewards but still constant decreasing inflation, POW/POS hybrid, awesome website https://bit.diamonds/
XMG Magi: high active community, dedicated people, some nice coinrollout mechanism, far undervalued, POW/POS hybrid
Bitcoin: not as much potential for value gain but will stay the backbone of cryptobusiness
NEM: even if after launch still lot stuff is missing it have potential as a true own codebase crypto ecosystem
XPY: after get rid of joker garza and a big value loss this coin have the potential of comeback of the year once the dev team releases the changes in primecontroller mechanics
Thanks Cryptonit! Appreciate that.  Wink
full member
Activity: 151
Merit: 100
xmg @ bittrex maintenance??

Yes no worries! Will be active after the maintenance
ok thx for the answer...
legendary
Activity: 3052
Merit: 1053
bit.diamonds | uNiq.diamonds
Feathercoin was assaulted with a 51-percent attack in 2013

http://www.coindesk.com/feathercoin-hit-by-massive-attack/

You might like to think of it as a "51% attack" but in fact that was an "88% attack".

Total hashrate went from around 0.2 to 1.5 Gh/s during the attack.

88% greatly increases the chances of a successful attack and the blockchain is solely POW in Feathercoin's case. At the time, Feathercoin was vulnerable to such attack due to lack of mining support.

feathercoin = pure POW coin
a above 51% hashrate attack is a valid szenario for such coins

for hybrids worst case to much hashrate and stubborn pools create a fork where big hashrate fork itself away from majority of network

DMD in his long history did explore this area so yes to much hashrate at one coin producing source can lead to troubles even at POW/POS hybrids

but it cant be abused to inject some double spend in a blockchain and the manipulated  blockchain still stay the valid main blockchain

this can happen to pure POW coins
member
Activity: 81
Merit: 1002
It was only the wind.
5000 KH from one person on one of the pools

Someone isn't playing very nice

Someone always finds a way to beat the system

Yep I spotted them earlier. They have not beaten the system at all. The system has already responded by reducing the block reward to peanuts.

There just isn't the headroom available now to support a bulldozer trying to muscle-in. If you look a few posts back I posted a graph of the XMG block reward vs hashrate. Without the bulldozer we were running at around 42 Mh/s total hashrate, which is right on the point where the downward slope of the graph reaches a maximum gradient. Anything above that (magic) number will have the XMG block reward plummeting towards zero very quickly - which just happened a few minutes ago.

My machines use SweetSpot targeting, so it has reduced my hash output and I am saving energy until the block rewards rise again.

Not hard to beat the system. With 51%, you can orphan others' blocks. So I simply whip up a GPU miner, and with a very small number of cards, less than 20, likely, I can orphan you all to oblivion while getting ALL the block rewards - as long as I keep my hashrate under a certain threshold.
legendary
Activity: 1750
Merit: 1005
xmg @ bittrex maintenance??

Yes no worries! Will be active after the maintenance
legendary
Activity: 3052
Merit: 1053
bit.diamonds | uNiq.diamonds
https://bitcointalksearch.org/topic/your-top-5-cryptocurrencies-2015-version-1079851

Just post this topic here for your (all Magi community) information.
I will not ask our community to post or vote because it is not the first topic with this subject and also not the last!!!
 Grin

lol without reading ur post we share 3 of 5

Radomly: Bitcoin, DMD, Monero, Doge and for sure Magi (XMG)

Here is also a poll you guys might like  to check.
https://bitcointalksearch.org/topic/speculate-which-altcoin-will-eventually-reach-parity-with-btc-1071351

DMD Diamond: 2 years on market, no premine, no IPO, fair coinrollout, high POS rewards but still constant decreasing inflation, POW/POS hybrid, awesome website https://bit.diamonds/
XMG Magi: high active community, dedicated people, some nice coinrollout mechanism, far undervalued, POW/POS hybrid
Bitcoin: not as much potential for value gain but will stay the backbone of cryptobusiness
NEM: even if after launch still lot stuff is missing it have potential as a true own codebase crypto ecosystem
XPY: after get rid of joker garza and a big value loss this coin have the potential of comeback of the year once the dev team releases the changes in primecontroller mechanics
full member
Activity: 151
Merit: 100
xmg @ bittrex maintenance??
member
Activity: 76
Merit: 10
Feathercoin was assaulted with a 51-percent attack in 2013

http://www.coindesk.com/feathercoin-hit-by-massive-attack/

You might like to think of it as a "51% attack" but in fact that was an "88% attack".

Total hashrate went from around 0.2 to 1.5 Gh/s during the attack.

88% greatly increases the chances of a successful attack and the blockchain is solely POW in Feathercoin's case. At the time, Feathercoin was vulnerable to such attack due to lack of mining support.

The total hashrate went from 0.2 Gh/s to 1.5, 7.5 times more than before, that is NOT a 51% attack is a "I-Controll-All-The-Hashrate" attack.

With the 51% you stastitically have an advantage in generating blocks, but you need far more power than that for realistically orphan all the blockchain.

Other point is, why would you do that? You crash that particularly coin, earning what? More volatility for trading?
Another point is, if the coin is PoM + PoS, how do you deal with the stake-generated blocks?
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