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

[cryptonit]

Looks like BTC has hit its all time high - Magi still seems to be holding up pretty well compared to most other coins. Price vs BTC has dropped but we havn't lost the recent rise in market cap.

Yes Magi is doing very nice. Btc might drop little more next week.

I hope so - the BTC bull has been stronger than I expected again.

Looks like its going up again!

Market cap value is looking very good - we are stabilising at around the 200k mark, if it stays where it is for a bit longer I think there is a good chance for a further rise.

I agree with that. We will continue with the awesome  future of Magi.

as soon as joe update POW diff engine + dynamic diff based reduced rewards
we will see much less POW coins rolled out per day and a way more competive coin inflation

mining diff will increase with coin price and more miners joining and this way XMG have a automated selfmade POW reward reduction

but yes the downside will be much of the time people mine for little gains
but thats the idea of XMG POW that by reduce rewards with increasing diff u keep away the mining farms

and single CPU who run 24/7 without care about diff and rewards will be the people who really earn the XMG POW coin rollout

the sell pressure will be lot less and trader instead of miner will have main marketprice impact

[sylph93]

I have been buying 125K XMG so far, I will buy more.
AMD's new cpu Rayzen will ignite CPU coins, XMG for sure. Soon we will see 1M market cap. it's not impossible goal. 

My concern is marketing. OP has out-of-date informations such as link of dead exchange, Cryptsy, etc.

There will be altcoin supercycle after end of long BTC rally. Let's prepare.

[111magic]

I have been buying 125K XMG so far, I will buy more.
AMD's new cpu Rayzen will ignite CPU coins, XMG for sure. Soon we will see 1M market cap. it's not impossible goal. 

My concern is marketing. OP has out-of-date informations such as link of dead exchange, Cryptsy, etc.

There will be altcoin supercycle after end of long BTC rally. Let's prepare.

Thats right amigo. Magi could use a lot of help with marketing. Everybody is welcome to help a little.
Together we can achieve more

[starmman]

I just completed my first successful - fully automated Magi transaction =) exciting stuff.

[rotzbouf]

I like the idea behind new POW engine. It will be very interesting to see how it will influence the price of the coin and of course how interesting it will remain for ppl to mine it. Sure there will always be those who mine the coin cause they beleive in it. but those who mine it currently for profit, they could leave the coin as it will not be worth anymore.

[starmman]

I like the idea behind new POW engine. It will be very interesting to see how it will influence the price of the coin and of course how interesting it will remain for ppl to mine it. Sure there will always be those who mine the coin cause they beleive in it. but those who mine it currently for profit, they could leave the coin as it will not be worth anymore.

I was wondering about that myself - the question that is in my head is 'will the larger players still value the coin and move to the exchanges (buy instead of mine) or will they simply move to another coin', I think if more people are aware of Magi and we continue the growth the first answer will be more likely.

[Visi0n4ry]

Looks like BTC has hit its all time high - Magi still seems to be holding up pretty well compared to most other coins. Price vs BTC has dropped but we havn't lost the recent rise in market cap.

Yes Magi is doing very nice. Btc might drop little more next week.

I hope so - the BTC bull has been stronger than I expected again.

Looks like its going up again!

Market cap value is looking very good - we are stabilising at around the 200k mark, if it stays where it is for a bit longer I think there is a good chance for a further rise.

I agree with that. We will continue with the awesome  future of Magi.

as soon as joe update POW diff engine + dynamic diff based reduced rewards
we will see much less POW coins rolled out per day and a way more competive coin inflation

mining diff will increase with coin price and more miners joining and this way XMG have a automated selfmade POW reward reduction

but yes the downside will be much of the time people mine for little gains
but thats the idea of XMG POW that by reduce rewards with increasing diff u keep away the mining farms

and single CPU who run 24/7 without care about diff and rewards will be the people who really earn the XMG POW coin rollout

the sell pressure will be lot less and trader instead of miner will have main marketprice impact

I like the idea behind new POW engine. It will be very interesting to see how it will influence the price of the coin and of course how interesting it will remain for ppl to mine it. Sure there will always be those who mine the coin cause they beleive in it. but those who mine it currently for profit, they could leave the coin as it will not be worth anymore.

This is verry hard to tune because if you lower the rewards to much you end up with only enthusiasts and botnets mining that dont care about electricity cost.
To make sure to get always a fair reward the network has not only to scale considering the actual coin price, it also has to consider how many hashrate it needs at the moment accordingt to the amount of incoming transactions to always allow them to proced fast. To do this in perfection the network has to learn and predict a large arise before it occurs to make sure the hashrate is pumped when it hapens.  To make it realy fair it also has to cut the reward of big pooled hashrate first, without touching the diff or reward of small contributers what is probably almost impossible. Just take a look on BTC transactions, the network is huge but sometimes transactions take a ridiculous long time while still charging a big transaction fee per kb. To use magi as a payment method as a customer that only wants to pay for goods i would presuppose that my transaction is almost instant like it is at the moment without taking care about how it is done. For sure it will take a lot time to get to the state where thousands of transactions per minute are done on the network but the goal should be to reach and handle this.

Apart from this the best thing that could happen to a Crypto is a large comunity of solo miners with as less as posible big hashpower pools.

[synthgauge]

Looks like BTC has hit its all time high - Magi still seems to be holding up pretty well compared to most other coins. Price vs BTC has dropped but we havn't lost the recent rise in market cap.

Yes Magi is doing very nice. Btc might drop little more next week.

I hope so - the BTC bull has been stronger than I expected again.

Looks like its going up again!

Market cap value is looking very good - we are stabilising at around the 200k mark, if it stays where it is for a bit longer I think there is a good chance for a further rise.

I agree with that. We will continue with the awesome  future of Magi.

Is Bitmark <-> Magi merged mining still possible? An automated marking system rewarding trollbox chatters could dramatically change the balance of forces if it gets implemented into magi, making it a worthy contender to fill ethereums throne.

[joelao95]

Joe, what would be the best blocksize for maximum PoS value?
I can't figure this out of the figures  above.
I now use blocksize of 1000 XMG (without splitting),
PoS reward around 1 XMG per 10K XMG a day. (4%)

Sorry for my delayed reply. I'd say 1000XMG is an ideal number.

However, we might take into account the factors like how much time to get a PoS block, and how much margin generated on a certain base of coins; putting all together would give a more accurate number, for which some cals I haven't had will need to be taken.

I actually would like to put the best number somewhere at or below 500XMG, which is apparently not the case at this moment. I'd get it onto one of the optimizations to be done regarding changes in the PoS. It's not intended to frustrate staking but to enhance network activities without affecting those wallets under frequent staking.

[joelao95]

I just completed my first successful - fully automated Magi transaction =) exciting stuff.

Curious what you got?

[starmman]

I just completed my first successful - fully automated Magi transaction =) exciting stuff.

Curious what you got?

I've written my own winforms based crypto forex client which can connect into multiple API's (currently only implements polo) - has most the features of a web based exchange, added in some basic trigger based trading algorithms which do exactly what I've been doing manually, and notifications once trades have completed, I've not optimised the routines yet (will write a back trace system) but manged four trades overnight which I previously would have missed. I'll post some screenshots later if I work out how =)

[goldlabel]

We are now at 958 likes  , so go to https://www.facebook.com/CoinMagi/ Like us and place your walletadress at the 1000 like post and maby you are the 1000 xmg winner  .

[starmman]

We are now at 958 likes  , so go to https://www.facebook.com/CoinMagi/ Like us and place your walletadress at the 1000 like post and maby you are the 1000 xmg winner  .

I'd forgotten about the 1000 likes campaign, not far away now - how to get the word out there to more people?

[crackfoo]

I'm running the new wallet but I see this error and can't get past the block...


received block 0000000027ba1ac55030
Misbehaving: 62.210.252.207:8233 (0 -> 100) DISCONNECTING
disconnecting node 62.210.252.207:8233
ERROR: ProcessBlock() : block with too little proof-of-work
received block 0000000027ba1ac55030
Misbehaving: 104.222.96.36:8233 (0 -> 100) DISCONNECTING
disconnecting node 104.222.96.36:8233
ERROR: ProcessBlock() : block with too little proof-of-work

[rotzbouf]

We are now at 958 likes  , so go to https://www.facebook.com/CoinMagi/ Like us and place your walletadress at the 1000 like post and maby you are the 1000 xmg winner  .

I'd forgotten about the 1000 likes campaign, not far away now - how to get the word out there to more people?

Liked. Good that I didn't missed this one.

[Visi0n4ry]

I'm running the new wallet but I see this error and can't get past the block...


received block 0000000027ba1ac55030
Misbehaving: 62.210.252.207:8233 (0 -> 100) DISCONNECTING
disconnecting node 62.210.252.207:8233
ERROR: ProcessBlock() : block with too little proof-of-work
received block 0000000027ba1ac55030
Misbehaving: 104.222.96.36:8233 (0 -> 100) DISCONNECTING
disconnecting node 104.222.96.36:8233
ERROR: ProcessBlock() : block with too little proof-of-work

Also got those issues, always losing connection.

[IncludeBeer]

I'm having issues mining.  It seems I'm not getting new work when I should be:


my config:

Code:

C:\Miners\wolf-m7m-cpuminer-V2-x64-0204\minerd-x64-corei7.exe -a m7mhash -t 12 -s 2 -o stratum+tcp://mining.m-hash.com:3334 -u satasnotreal.CPU -p derpy

Any ideas how to fix this?

[joelao95]

I'm running the new wallet but I see this error and can't get past the block...


received block 0000000027ba1ac55030
Misbehaving: 62.210.252.207:8233 (0 -> 100) DISCONNECTING
disconnecting node 62.210.252.207:8233
ERROR: ProcessBlock() : block with too little proof-of-work
received block 0000000027ba1ac55030
Misbehaving: 104.222.96.36:8233 (0 -> 100) DISCONNECTING
disconnecting node 104.222.96.36:8233
ERROR: ProcessBlock() : block with too little proof-of-work

Also got those issues, always losing connection.

It seems due to connection with misbehaved peers, which are supposed to be disconnected. Pls try to remove peers.dat, add only the following nodes, and restart the wallet:

Code:

addnode=104.128.225.215
addnode=104.128.225.240
addnode=104.128.225.241
addnode=104.131.42.100
addnode=216.189.144.186
addnode=216.189.144.211
addnode=216.189.144.212
addnode=104.131.42.100
addnode=xmg.suprnova.cc

[starmman]

There was some great volume on XMG overnight - I'm loving that kind of volatility

[Visi0n4ry]

I'm running the new wallet but I see this error and can't get past the block...


received block 0000000027ba1ac55030
Misbehaving: 62.210.252.207:8233 (0 -> 100) DISCONNECTING
disconnecting node 62.210.252.207:8233
ERROR: ProcessBlock() : block with too little proof-of-work
received block 0000000027ba1ac55030
Misbehaving: 104.222.96.36:8233 (0 -> 100) DISCONNECTING
disconnecting node 104.222.96.36:8233
ERROR: ProcessBlock() : block with too little proof-of-work

Also got those issues, always losing connection.

It seems due to connection with misbehaved peers, which are supposed to be disconnected. Pls try to remove peers.dat, add only the following nodes, and restart the wallet:

Code:

addnode=104.128.225.215
addnode=104.128.225.240
addnode=104.128.225.241
addnode=104.131.42.100
addnode=216.189.144.186
addnode=216.189.144.211
addnode=216.189.144.212
addnode=104.131.42.100
addnode=xmg.suprnova.cc

Doesnt help the Wallet cant get across block 1217757, curious is that only 1 Wallet is affected all others run fine.

Code:

trying connection [2a02:8108:8b40:d18:7c2b:c1cd:eab:179c]:8233 lastseen=211.4hrs
Added 618 addresses from 104.207.149.217: 9 tried, 9591 new
Added 659 addresses from 104.207.149.217: 9 tried, 9562 new
Added 334 addresses from 104.207.149.217: 9 tried, 9568 new
connection timeout
connection timeout
trying connection 87.78.184.144:8233 lastseen=66.4hrs
connection timeout
trying connection 197.253.33.170:8233 lastseen=1.1hrs
connection timeout
trying connection 24.140.248.78:8233 lastseen=1.1hrs
connection timeout
trying connection 97.102.77.41:8233 lastseen=5.1hrs
connection timeout
trying connection 190.142.243.32:8233 lastseen=156.6hrs
received block d6cf05d12962e8050414
ProcessBlock: ORPHAN BLOCK, prev=000000001a3ae11324ab
received block 000000001a3ae11324ab
ProcessBlock: ORPHAN BLOCK, prev=000000002ab5124acfec
received block 000000002ab5124acfec
ProcessBlock: ORPHAN BLOCK, prev=4ecb39f3529c09caee2e
received block 0000000027ba1ac55030
Misbehaving: 62.210.252.207:8233 (0 -> 100) DISCONNECTING
disconnecting node 62.210.252.207:8233
ERROR: ProcessBlock() : block with too little proof-of-work
connection timeout
trying connection 2.236.133.147:8233 lastseen=89.7hrs
connection timeout
trying connection 84.215.7.210:8233 lastseen=1.1hrs
Flushed 9577 addresses to peers.dat  61ms
connection timeout
trying connection 46.188.1.45:8233 lastseen=1.1hrs
connection timeout
trying connection 37.214.136.230:8233 lastseen=44.6hrs
connection timeout
trying connection 24.140.248.78:8233 lastseen=1.1hrs
socket no message in first 60 seconds, 0 1
disconnecting node 104.131.42.100:8233
connection timeout
trying connection 37.47.104.190:8233 lastseen=673.3hrs
connection timeout
trying connection 87.212.198.241:8233 lastseen=1.1hrs
connection timeout
trying connection 187.78.19.191:8233 lastseen=67.9hrs
connection timeout
trying connection 188.66.69.56:8233 lastseen=1.1hrs
connection timeout
trying connection 220.214.11.117:8233 lastseen=121.0hrs
connection timeout
trying connection 24.140.248.78:8233 lastseen=1.1hrs
received block 0dcaf99ecad91eb3f70b
ProcessBlock: ORPHAN BLOCK, prev=d6cf05d12962e8050414
connection timeout
trying connection 95.42.179.205:8233 lastseen=1.1hrs
connection timeout
trying connection [2601:196:8901:898a:51c1:337c:5f7d:68fa]:8233 lastseen=177.7hrs
connection timeout
trying connection 89.204.155.43:8233 lastseen=890.8hrs
connection timeout
trying connection 154.119.225.5:8233 lastseen=1.1hrs
connection timeout
trying connection 96.248.122.64:8233 lastseen=6.2hrs
connection timeout
trying connection 24.140.248.78:8233 lastseen=1.1hrs
connection timeout
trying connection [2a06:8ec0:3::1:28e6]:8233 lastseen=2.3hrs
connected [2a06:8ec0:3::1:28e6]:8233
send version message: version 71051, blocks=1217757, us=[2003:c3:a3c3:7700:71bd:fbe5:cf03:5005]:8233, them=[2a06:8ec0:3::1:28e6]:8233, peer=[2a06:8ec0:3::1:28e6]:8233
Added time data, samples 9, offset -22 (+0 minutes)
nTimeOffset = -23  (+0 minutes)
Moving [2a06:8ec0:3::1:28e6]:8233 to tried
receive version message: version 71051, blocks=1219032, us=[2003:c3:a3c3:7700:71bd:fbe5:cf03:5005]:50836, them=[2a06:8ec0:3::1:28e6]:8233, peer=[2a06:8ec0:3::1:28e6]:8233
trying connection 104.251.215.107:8233 lastseen=0.3hrs
connected 104.251.215.107:8233
send version message: version 71051, blocks=1217757, us=87.157.60.239:8233, them=104.251.215.107:8233, peer=104.251.215.107:8233
received block 0000000003025a87a9cc
ProcessBlock: ORPHAN BLOCK, prev=0dcaf99ecad91eb3f70b
trying connection 46.188.1.45:8233 lastseen=1.1hrs
trying connection 104.128.225.215:8233 lastseen=385654.5hrs
connection timeout
trying connection 91.155.183.83:8233 lastseen=1.1hrs
Added 619 addresses from 2a06:8ec0:3::1:28e6: 10 tried, 9764 new
received block 0000000017106db73b6d
ProcessBlock: ORPHAN BLOCK, prev=0000000003025a87a9cc
Added 639 addresses from 2a06:8ec0:3::1:28e6: 10 tried, 9894 new
connection timeout
Added 332 addresses from 2a06:8ec0:3::1:28e6: 10 tried, 9940 new
trying connection 104.128.225.240:8233 lastseen=385654.5hrs
connection timeout
trying connection 91.155.183.83:8233 lastseen=1.1hrs
connection timeout
trying connection 104.128.225.241:8233 lastseen=385654.5hrs
Added time data, samples 10, offset -24 (+0 minutes)
receive version message: version 71041, blocks=1219033, us=87.157.60.239:63622, them=104.251.215.107:8233, peer=104.251.215.107:8233
Flushed 9950 addresses to peers.dat  46ms
connection timeout
trying connection 197.253.33.170:8233 lastseen=1.1hrs
connection timeout
trying connection 104.131.42.100:8233 lastseen=385654.5hrs
connected 104.131.42.100:8233
send version message: version 71051, blocks=1217757, us=87.157.60.239:8233, them=104.131.42.100:8233, peer=104.131.42.100:8233
trying connection 178.33.228.14:8233 lastseen=385654.5hrs
received block 0000000027ba1ac55030
Misbehaving: 110.11.227.163:8233 (0 -> 100) DISCONNECTING
disconnecting node 110.11.227.163:8233
ERROR: ProcessBlock() : block with too little proof-of-work
connection timeout

I can upload the debuglog for you if you need.