[ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]

[111magic]

What is POM ?

Good question; no one was questioning this before, though we're talking "CPU mining | PoS-II | PoM | Unique BLK reward | [MagiPay]". PoM has more meaning (since we're advising 1st PoM) than a single campaign as done before (which was an approach to protect coin distribution): https://asktom.cf/index.php?topic=802681.0; some details here: http://arxiv.org/pdf/1409.7948v1.pdf

PoM - proof of mining; by it's definition, the more mining efforts being placed, the more rewards one gets. This is typically right in mining any coins, while it's particularly emphasized in Magi (on individuals' participation), because of the design of PoW block reward. A simple description of the block reward is that it decreases with increasing network hashrate, and may hit zero when network hash is significantly high. A consequence of this is big miners get frustrated. If one is familiar with the block reward (https://asktom.cf/index.php?topic=735170.msg9991269#msg9991269), you will see block reward could be easily hitting zero. A point here, which was also being argued among people, is who will exit if mining nothing? This is where PoM campaign will be functioning. The campaign will encourage people to keep mining by rewarding despite the amount of block reward. To understand the purpose of the PoM campaign , we can see what happens if we're on the opposite situation - what if generic miners quit first?: 1) big miners keep mining, 2) because of miners quitting, network hash getting low, block reward increasing, and big miners get rewarded more! So now you see PoM campaign is trying to protect the network and to ensure FAIR coin distribution.

To the individuals, PoM means one will receive better rewarding by long term mining. Provided that we, the generic miners, form a solid league, won't give up mining in any situation. One will receive less mining share if big miners are present since they have more hash weight over the rest of miners. It should be noted, however, that coin distribution is pretty much protected by the significantly reduced block reward, as much less coins will be mined in this case. At the time of big miners' leaving, network hash decreasing, not only one gets higher mining share, but also the block reward is high. Then you know why Magi can achieve the FAIRness in coin distribution.

Some good news for the community:
We can start a new PoM soon.
Always good to recieve more donations   (99TPno3sPeUfDh9tq4To7xkLAYNQV1Qri1)
but for starting the new PoM we achieved more than minimum required fund. Thanks for that.
Team is working now on solid and fair plan.

[QuantumSheep]

is there a list of all the available pools somewhere?

[feldenthorne]

is there a list of all the available pools somewhere?

http://poolinfo.coinmagi.org/ is probably where you want to check.

[Erkallys]

Is it better to mine on a pool with a higher or a lower hash rate ?

[z0n0]

what happened with block reward yst/today? from 5xmg earnings a day (few days ago) to 25 xmg ystday

[QuantumSheep]

i'm hitting around 4.7 a day.

the pool stats quote higher but other variables are at work and that calculation doesn't factor those in.

[111magic]

what happened with block reward yst/today? from 5xmg earnings a day (few days ago) to 25 xmg ystday

Maybe Magic?

[joelao95]

what happened with block reward yst/today? from 5xmg earnings a day (few days ago) to 25 xmg ystday

Basically it's jumping; one may need to stick to mining so won't missing high reward blocks.

[joelao95]

Is it better to mine on a pool with a higher or a lower hash rate ?

Here are the posts:
https://asktom.cf/index.php?topic=735170.msg10746379#msg10746379
https://asktom.cf/index.php?topic=735170.msg10746464#msg10746464
Btw, does the qt-wallet work now?

[joelao95]

Some good news for the community:
We can start a new PoM soon.
Always good to recieve more donations   (99TPno3sPeUfDh9tq4To7xkLAYNQV1Qri1)
but for starting the new PoM we achieved more than minimum required fund. Thanks for that.
Team is working now on solid and fair plan.

Thanks for update. Funds so far are about 23K XMG or so.

[Erkallys]

You havent enought RAM Create a big Swap File (1GB):

free
dd if=/dev/zero of=/var/swap.img bs=1024k count=1000
mkswap /var/swap.img
swapon /var/swap.img
free

and compile again...

dd if=/dev/zero of=/var/swap.img bs=1024k count=1000
dd: ouverture de (open of in English) « /var/swap.img »: Permission non accordée (Access denied in English)

It will never work ...

[joelao95]

You havent enought RAM Create a big Swap File (1GB):

free
dd if=/dev/zero of=/var/swap.img bs=1024k count=1000
mkswap /var/swap.img
swapon /var/swap.img
free

and compile again...

dd if=/dev/zero of=/var/swap.img bs=1024k count=1000
dd: ouverture de (open of in English) « /var/swap.img »: Permission non accordée (Access denied in English)

I will never work ...

should be:

Code:

sudo dd if=/dev/zero of=/var/swap.img bs=1024k count=1000

add "sudo" for other commands too.

[Erkallys]

You havent enought RAM Create a big Swap File (1GB):

free
dd if=/dev/zero of=/var/swap.img bs=1024k count=1000
mkswap /var/swap.img
swapon /var/swap.img
free

and compile again...

dd if=/dev/zero of=/var/swap.img bs=1024k count=1000
dd: ouverture de (open of in English) « /var/swap.img »: Permission non accordée (Access denied in English)

It will never work ...

should be:

Code:

sudo dd if=/dev/zero of=/var/swap.img bs=1024k count=1000

add "sudo" for other commands too.

I hope. Linux is definitely tricky !

[111magic]

Some good news for the community:
We can start a new PoM soon.
Always good to recieve more donations   (99TPno3sPeUfDh9tq4To7xkLAYNQV1Qri1)
but for starting the new PoM we achieved more than minimum required fund. Thanks for that.
Team is working now on solid and fair plan.

Thanks for update. Funds so far are about 23K XMG or so.

That's nice! Think there will be another donation coming! Will let you know tonight!

[Erkallys]

Some good news for the community:
We can start a new PoM soon.
Always good to recieve more donations   (99TPno3sPeUfDh9tq4To7xkLAYNQV1Qri1)
but for starting the new PoM we achieved more than minimum required fund. Thanks for that.
Team is working now on solid and fair plan.

Thanks for update. Funds so far are about 23K XMG or so.

That's nice! Think there will be another donation coming! Will let you know tonight!

I won't be able participate to that campaign

[111magic]

Erkallys why not? Are you a miner? If you are you might join the PoM.

[Erkallys]

Erkallys why not? Are you a miner? If you are you might join the PoM.

Yes I am but I couldn't let my computer mine for months.

[djm34]

when does start the POM campaign ?

[111magic]

when does start the POM campaign ?

We are working on solid and fair plan.
If we know the date team will inform the community asap.

[111magic]

This poll ...

https://asktom.cf/index.php?topic=915569.0

... is putting us right up there with the most well-known names. Gotta be good.

We are already famous. It is just that not enough people know it yet.

Onwards and upwards

https://asktom.cf/index.php?topic=915569.0

11 more votes and Magi is on same spot as Darkcoin.