Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 927. (Read 2375939 times)

Nice. I think, if we have second PoI project it will be more successable then first.
Everyone knows for PoI, and many people missed to board the train ..

Shared the puzzle on facebook!
Think you did a great job with this!

If i read it correct;
you mean also that Magi need more pools with that kind of rules right?

Will Magi have more than 400 pages here this month?
I think its going to happen.
Awesome to see the community is working with eachother to make Magi stronger!
Magi will have a Magical 2015.
Question i notice whitepuma.net is not longer active. Is there a new one were i can tip people with Twitter??

Hacks

Alternatively mining for PoM , that being said PoM is like hiring miners. I am curious how many coins one is comfortable with as the reward for remaining to be a participant in the PoM campaign (let's say with 200kh/s hashrate). Reason I am asking this is to see how much rewards we should make to have the PoM launch working effectively.

Thanks JasonX; will respond later on.

Nice ideas, however, a couple things kind of come to mind around it.  My feel is that we should avoid anything that sets things up in a way where there can be a single point or two of failure.  If we are all mining in one or two pools there can be security issues.  Additionally with a larger market cap many people will be trying to shut down these pools simply to try to control the money supply.  (If the supply is dropped the price tends to spike up and any large bag holder might be tempted to try this before unloading their holdings.)

Tying the payouts to the mac address of a CPU might not solve much because many people have access to LAN resources or a host of older devices.  I doubt it would end up distributing things much more evenly but it might change up the distributions a bit.  Even with closed source there is no guaranty that someone won't try to reverse engineer the code if they have too much time on their hands.

I would think that limiting mining to around 200 KH/s per ip address might be an option but as others have pointed out there are people with access to many ip address.  This would make things more difficult for the GPU guys and botnets if they exist and might be an incentive for those people to go and look for easier things to do.  It could be done by just raising the ban count for any node generating more than 200 KH/s and shutting it out the peer to peer network for 24 hours.  My guess is that this could be done pretty easy but we would all have to PoW mine solo which would shut out many people from mining (these people could still use PoS however)

To me it really boils down to an issue where people need to be aware that for the long term benefit of everyone it is best to work together and voluntarily not try to over mine the resource.  The current block reward system is really nice this way.

45 secs, and 128 moves. That's almost 3 moves per second, which is not regular possible.

Welcome Royalwebgrup!  Your in the Magi-face.
Magi Team keeps growing and thats good news!
Joe can you add Royalwebgrup to the list?

Somebody is currently connected to my account on XMGpool. It isn't me. They are throwing about 60 Kh/s at it and have been doing it for some time now. This can happen if you just keep clicking "Ok" during setup of my software, or if you just let it sit there running a diagnostic, so maybe somebody got a bit click-happy? Anyways, you mined a block for me about half an hour ago.

Thanks matey

Thanks for that and I do know all about them, have rejected them and am looking for something much much simpler. I do not want a gui at all and I certainly do not want anything that requires an installation procedure of any kind. That is not what I am looking for. I have a feeling that what I need does not exist, or if it does then it will be in some quiet little-known backwater of the Web that I do not know about.

   

Shhhhh no hope... i tried it alot but false, its hopeless... you took 500XMG from me forever lol

Wow, like always magical things going on

Awesome guys. Thanks z0n0 thats the spirit!
I see very good ideas.
I think we have to wait a little bit with the launch of the new Proof of Mining when we are working out these new ideas.
In the mean time the Proof of Interest is a huge succes and the people who are joining that one will be happy in the end. I will report this to our anonymous donator and ask him for the options for another Proof of Interest campaign for the second half of this year!

exactly, i was just reading jasonxtreme post it have some great ideas yours 2 Digi. I dont know if this is posible but can you make a new wallet that will have some code in it to prevent solo mining bc mining solo cannot be controlled easy, and have deal with the pools i dont know if this is possible 2, to somehow limit maximum output of a single pool to lets say 5 mhs we now have 5 pools and nethashrate would be at 25 mhs that way. And let each pool mine as 1 individual who splits mined xmgs every day between miners same amount per miner.

cheers 

Currently it doesn't have sense to mine Magi for me, I have total hashpower ~200 kh/s on 8 computers. With current block reward, I can get ~2-3 XMG per day.
Electricity bill > XMG/day profit

So is there any other CPU coin with higher profit?

Don't worry, I'm not quiting on MAGI No way!!!

thanks

Wow. Have some reading to do. I will respond on this JasonXtreme! Thanks.

This is a message I sent Joe the other day, involving a radical idea that may or may not be feesible. As Joe has a lot on his plate I've decided to let the community munch it over a bit before he gets to reading it


What follows is an unpolished, unfinished idea, and as you might have noticed, I am incapable of short versions, so take your time when reading it to fully grasp my meaning

I was up last night as I had a bit too much coffee and was thinking on how to eliminate the big miners without hurting the rest of the network. The answer - you can't, at least not the way cryptomining is designed now. Even if you limit the POW to let's say 160KH/s, there is nothing stopping me from splitting 700KH/s onto six or seven accounts and seven threads, still increasing the overall hashrate of the network and bringing down the reward, gaining more profit than the average CPU miner. So I came up with a safety switch.

Each CPU has info on it (at least most every recent one) including brand, model, and unique serial number accessible via C++ code. This can be used to limit a person's mining ventures, but only (and this is the biggest downside I can think of) if the code for the miner remains closed-source. This of course clashes with most of the mining logic to evenly distribute money, so that also needs to be redefined a bit for the concept to work.

Imagine the following scenario:

The block chain is mostly left intact, meaning that hashes are calculated, and blocks are closed and people get MAGI. But instead of the person closing the block getting all of the reward, the WHOLE network works as a pool. A user has a minimum hashrate of 1 KH/s to remain viable for currency gain. A user has a maximum hashrate of 30KH/s that he can dedicate to mining in the network pool, thus increasing the network's overall gain. Once a block is closed, the reward is split EVENLY among all participants trying to close that block, regardless of their contributed hashrate. This basically ensures that every participating miner, regardless of their CPU capabilities, is capable of mining the same sum over the course of a day - distributing the cryptocurrency evenly. To prevent a user from mining with several accounts as he can now, the CPU unique number is included in the hashchain, ensuring that one CPU is mining at the same gain as every other, or in other words, one CPU cannot run two threads for two users at the same time. If it reaches more than 30KH in a second (per CPU, not user), the rest of the attempts to close the block are denied for that CPU for the remainder of the timeframe (they are invalid, even if block closure is achieved by the >30000th attempt). This is why the source should probably remain closed, otherwise, a workaround sending fake CPU IDs can be constructed.

For those that want to get ahead (in other words, want to throw their oversized hashrate at the system) there is a separate hashchain, very much similar to the current one - the rewards get smaller as more and more hashes are sent, BUT, you have a bigger statistical chance of receiving the reward of a closed block in proportion to your additional hashrate compared to the total competing hashrate of this second chain. So the rewards are still split, and closing a block is still not a guarantee of profit - you only get a bigger chance if you mine with more powerfull gear (but the rewards are, like now, proportional to the overall network hashrate, and will thus not overpower a regular miner by much).

Together, the two hashchains should distribute the currency evenly among users, with the small folk getting an even share, and the big guys duking it out for spare change (with each block chain leveling block reward separately).

Of course, I may have overlooked some important detail, but I wanted to share my thoughts with you and the rest of the comminuty

Please, let me know what you think.