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Author Topic: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU 1st POI  (Read 64810 times)

111magic

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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #30 on: December 10, 2014, 08:19:47 PM »
Magi (XMG) update:

Magi also added on www.litebit.eu
https://www.litebit.eu/coin/xmg/en/
Buy Magi/XMG here and pay with different payment options!

http://t.co/wpYzJzOuFw
Made a guide for the new people in the altcoinworld. Its helps them to buy Magi (XMG) on Litebit.eu
This one is in Dutch. Will also make one in English!

Magi XMG new article on popular website:

http://cryptomining-blog.com/4017-coin-magi-xmg-cpu-only-alternative-crypto-currency/
https://www.m-core.org
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111magic

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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #31 on: December 10, 2014, 08:21:49 PM »
[MagiPay - standalone payment gateway for Magi]

I have mentioned our standalone payment gateway sometimes ago; here is how it looks like. The expected delivery is about three weeks from now. This development is parallel to the coin itself as marketing feed and making 'real' things.


What's the 'real'?

The motivation is to create a real land for Magi. Any things can be speculative, instances existed here and there, now and then. Speculation is just about imagination, upon manipulated/semi-manipulated/virtual facts. Being the kind way we call it investment. Things should be pretty straightforward, without complicating the stuffs and confusing people's mind. It's pretty funny that value does be created from vacuum (theory of matters creation from null as proposed in physics is absolutely unique). When we talk about the value of gold, it exists in applications of jewelry, electronics, chemistry, medicine, to name a few, even food, and of course investment. When we talk about magi, it can be something (whether useful or not) missing in the space, for example, to achieve the fairness (absolutely relative to a counterpart) while I suspect my confidence in speaking of values by this argument. Additionally, let's talk something like warming up the room by mining, or evaluating CPU performance :-D, what else then, maybe as a course for one to learn CS science, but of course, investment. Seriously, as a medium of exchange, it should be exchangeable with stuffs.

How does it work?

1. A merchant creates an account at m-epays.com; after successful registration one can create a payment box;
2. m-epays.com issues MagiPay account details;
3. Integrate MagiPay to merchant's website;
4. Customer clicks the 'Pay with magi' button, MagiPay connects to m-epays.com server and requests for a specific payment box;
5. m-epays.com issues a MagiPay address and the total amount to be paid;
6. Customer sends coins to the MagiPay address;
7. Once the payment is received and confirmed, the server informs the successful payment;
8. After 1 hour upon the payment is received, the server automatically transfer the amount of magi to merchant's registered external wallet address.

What's special?

1. Fully configurable compared to the third party service provider, since we ourselves will manage the system; this way comes flexible features to be developed; so please suggest what we can do to make 'special'.

2. Using the payment service provided by MagiPay will be totally free, in comparison with cases which charge minimum 0.5%. Additional feature to make use of the free service is the inclusion of fiat/BTC-XMG conversion, which practically reduces charge accumulated during the process, where payment is done typically by, for example, the credit card.

We will make this system be usable in the first place. Going forward, magi will integrate this system with the planned marketplace, which would be something I can foresee. Though it's far from the right time to speak of the necessity where we invest our efforts, we just start from here.

Magi (XMG) will get standalone payment gateway!!!
This will be a huge step forward for Magi
https://www.m-core.org
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111magic

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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #32 on: December 28, 2014, 09:10:02 AM »
MagiPay: m-epays webgui:

Preview coming development Magi (XMG)
Keep eye on https://bitcointalk.org/index.php?topic=735170.0
https://www.m-core.org
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111magic

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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #33 on: December 28, 2014, 09:12:27 AM »
Magi (XMG) update:

Magi also added on www.litebit.eu
https://www.litebit.eu/coin/xmg/en/
Buy Magi/XMG here and pay with different payment options!

http://t.co/wpYzJzOuFw
Made a guide for the new people in the altcoinworld. Its helps them to buy Magi (XMG) on Litebit.eu
This one is in Dutch. Will also make one in English!

Magi XMG new article on popular website:

http://cryptomining-blog.com/4017-coin-magi-xmg-cpu-only-alternative-crypto-currency/

http://imgur.com/PfyAaWO
Simple manual for direct selling or buying Magi (XMG) with various payment methods on:
https://www.litebit.eu/coin/xmg/en/
https://www.m-core.org
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111magic

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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #34 on: January 01, 2015, 04:20:08 PM »
Hard fork [client version v1.2.0.1]
[12/31] PoW & PoS updates

Please update the wallet to v1.2.0.1 (mandatory):

Windows: http://coinmagi.org/files/magi-release/win32_magi_v1.2.0.1.zip
Linux: http://coinmagi.org/files/magi-release/linux_amd64_magi-qt_v1.2.0.1
Source code: https://github.com/magi-project/magi/

This update includes the following hard forks:
PoS hard fork at block 131100 for better staking results (Expected on January 6)
PoS-II Protocol V2 hard fork at block 131300 (Expected on January 6)
PoW-V2 hard fork: 1/7/2015, 12:00:00 PM EST time (GMT-5:00)


# Piece of info
Magi Cheat Sheet v1: http://coinmagi.org/files/misc/magi-cheat-sheet-v1.pdf

# Brief summary

  • Implement a filter for the difficulty data and stabilizing yielded block rewards; anticipation is improved accuracy of the block-rewarding (MagiReward) system in responding to the actual network hashrate;
  • Introduce a CPU miner targeting at reducing hash rate (https://github.com/magi-project/m-cpuminer-legacy) which is much more meaningful for magi in comparison with any other coins;
  • Adapt a close limitation of the PoS stake weight which disables potential PoS attack via accumulating significant amount of coins or offline stake time;
  • Other miscellaneous updates.

Huge amount of energies consumed in the cryptocurrency has been a big issue, which is totally opposite to the global efforts in saving energy. This issue should be resolved sooner or later in order to advance the cryptocurrency any further. As one of the possible solutions, that's the reason we have PoS. However, the pure PoS mode would never give rise to decentralization. Any approaches are vain if decentralization cannot be maintained, unless one agrees with a coin with limited time of mining or with total premining, or the such likes. The PoW should be remained in order to distribute coins into a broad audience over time.

The basic rule of dealing with the energy concern is to involve a "braking" mechanism in coin design. Such a rule exists in every piece of things in nature: why earth/electrons should circle the sun/nucleus without collapsing or departure? or just imagine a vehicle without brakes. Bitcoin or litecoin does not put actual limits in the rewards, or that simply not functioning properly. That's where magi plugs in.  

What do we need to save energy?

On the whole, mining should be encouraged at a lower hashrate level.

# MagiReward-V2

The issue to be solved in this upgrade is the removal of the vague dependence of block rewards on the difficulty, due to the fluctuating nature of block time. A basic consideration is applying a filter to smooth out the difficulty data. Details are as follows.



# Necessary to adjust miner efficiency?

A direct consequence of the above implementation is the well-shaped block rewards in which big rewards due to network fluctuation are totally avoided. The following figures disclose the real situation most likely:



Mining at a network hashrate of 22 Mh/s results in 50 XMG/block, whilst hashrate increases to 36 Mh/s like mining the air.

Who shall mine nothing?

Provided that I have a miner with hash rate of 1000 kh/s; I would have big concern of yielding nothing at its full speed, but I don't care throwing 10kh/s at nothing. The reality behind this scene will be a different story; at the time by which the exit of miners will pull the block reward back to some numbers, one is able to mine something by then. Reducing hash rate does sound the right action in this incident.

Attenuating hashrate of miners in mining bitcoins is very unusual or pointless, since the higher the hash rate, the greater the bitcoin amount mined. Except this sole "advantage", there are dozens of facts people should be aware of that increasing hash rate comes along the wrong direction: 1) running a PC miner is totally incompetent since every single person in the world would like to sharpen their miners with high hashrate; 2) running 100% CPU usage miners is impractical in most of situations even if one can do so; 3) mobile devices are incompetent under this scene.

It will be wise to run a hashrate-depressed miner under the improved MagiReward system. Technically by doing so it's possible to run miners everywhere.

# m-cpuminer-legacy

We are "joking" the miner, but this is for real that you'll need it; running it in VPS without incurring limitation imposed by vendors? working computers / school's super computer? :D Here is the option.

https://github.com/magi-project/m-cpuminer-legacy

Code: [Select]
minerdlegacy -o stratum+tcp://pool_url:pool_port -u pool_user.worker -p password -t thread_numbers -e cpu_efficiency
This is none different from the regular miner, except that an option "-e cpu_efficiency" is added, where cpu_efficiency is a number between 1 - 100, for example, 50 representing for 50% of CPU usage. A few instances:

-e 75 -->
-e 50 -->
-e 25 -->
-e 1   -->

Given 10~30% CPU usage, the miner is more like a regular program. Please notice that neither I nor the magi team shall be responsible for any consequence because you run the miner in your working computers or school super computer.

# PoS-II-V2

What we have done in this upgrade is adding rigorous limitation on the amount of coins in one transaction for staking purpose, and reducing maximum staking time within two weeks. We don't expect impact on typical situation where one remains wallet online for PoS stake; the offline time should not exceed more than a week. We also recommend to keep 100 - 1000 XMG in one transaction for best results.

Again, magi implemented a braking mechanism which makes it more secure compared to any other PoS coins. To understand that, take a look at the basic PoS mining equation:

Code: [Select]
hashProofOfStake <= [Coin-age] x [Target]
[Coin-age] = [amount of coins] x [days in stake]
and,
Code: [Select]
[PoS-block-reward] = [Coin-age] x APR / [days in a year]

Apparently [Coin-age] is a paramount quantity for PoS, which is the driving force for people to stake with as many coins/days as possible. The major weakness in this mode is a possibility of attacking the network by mining a number of blocks ahead of other PoS miners, which can be done via accumulating significant [Coin-age] by

1) having significant amount of coins, which is technically difficult to be achieved in PPC, but rather easy in a freshly created coin;
2) accumulating significant amount of offline days of coins which shall not undergo any transactions before staking, which is a rather feasible approach.  

Approaches to resolve the above situation have been proposed, mostly by manipulating the staking days. In contrast to PPC's linearly increasing coin age with time, BC and RDD are two example coins with efforts towards this, but neither of them take care of both situations simultaneously. The BC's V2.0 takes the staking time out of the equation, i.e., [Coin-age] = [amount of coins], which does not solve the issue #1. It is also none organic that one cannot buy advantages from staking time using a cheap PC, in addition to simply buying coins. The growth rate of staking days over time is compromised in RDD if one stakes coins over a month; it should be noted that any desired attack can happen within a month staking time. In addition to the above point, one should be aware that the difference in the number of coins under stake should be emphasized too. The system should encourage one staking with more coins, but discourage greedy accumulations.

Magi's PoS-II?

Magi takes the following form for coin age:
Code: [Select]
[Coin-age] = [amount of coins] x M(coins, days)
where M(coins, days) is a function of the amount of coins, and the days under stake. [Coin-age] is also the so called stake weight. The best description of M is shown below:



It's rather empirical to determine the best value of stake days. I am rather taking time to sit down and figure, with a basic rule in mind, to limit it within a week. Let's see how it solves the PoS issues:

1) one holding more than 3000 XMG does not result any good in the stake weight; for staking over 25,000 XMG is like staking with nothing;
2) the maximum offline stake time is four days, beyond which staking weight starts to drop; it's unlikely to accumulate infinite staking time.

A side advantage of the PoS-II is that significant amount of offline time is not allowed. There is no advantage of gaining coin age for offline more than 4 days. For any online stake holders, the block time will be refreshed upon finding blocks. The stake weight (coin-age) nearly increases proportional to the amount of coins when coins in one transaction are between 100 and 1000 XMG.

# Misc updates

1) PoS status update in wallet GUI; please be aware that "expected time to earn reward" is only an estimate.  

2) Correction of the money supply shown in API calls: getinfo by reducing 720,000 XMG, which was burned (https://bitcointalk.org/index.php?topic=735170.msg9900074#msg9900074).

3) Added API calls:

Code: [Select]
getnetstakeweight
Code: [Select]
getmininginfo"Expected PoS (hours)" : 3

Code: [Select]
getnewblockvaluebynumber 122478{
    "flags" : "proof-of-work",
    "difficulty" : 1.62299710,
    "difficulty-V2" : 1.54876817,
    "blockvalue" : 5.36191184,
}

Mining calculator:
Code: [Select]
getminingbykhps 10{
    "hashrate (kh/s)" : 10.00000000,
    "difficulty" : 1.56666109,
    "difficulty(aver)" : 1.35112710,
    "blockvalue" : 5.23089843,
    "mining (XMG)" : {
        "1 hour" : 0.03245060,
        "1 day" : 0.77881439,
        "1 week" : 5.45170070
    }
}
https://www.m-core.org
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111magic

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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #35 on: January 11, 2015, 09:35:43 PM »
New wallet v1.2.1.1 (not mandatory, but strongly recommended):

http://coinmagi.org/files/magi-release/m-wallet-1.2.1.1-win.zip
http://coinmagi.org/files/magi-release/m-wallet-1.2.1.1-macosx.dmg
http://coinmagi.org/files/magi-release/m-wallet-1.2.1.1-linux.tar.gz

Source code: https://github.com/magi-project/magi

Compiling from the source code is recommended for linux. The new wallet fixes public key for delivering messages into "error" section (command line) or the status bar of the Qt client. Also a few other updates are included in the new version.

Enclosed include the 64 bit wallet. The compilation really spent me some time; the 64 bit wallet was keeping crashing, but pretty fine now as I tested in all of my home computers (windows8). To be safe, PLEASE rename the folder %appdata%\magi to something else before the first run, so that you will have the original block data untouched if something goes wrong. By confirming everything works properly, then close the wallet, rename the folder back to %appdata%\magi and restart the client. BE SURE make a backup of wallet.dat.

Let me know any issues and desired improvements.
https://www.m-core.org
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111magic

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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #36 on: January 29, 2015, 11:30:27 PM »


Magi on Bitcoin event 2015 in Amsterdam, the Netherlands.
 :)
https://www.m-core.org
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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #37 on: January 30, 2015, 11:35:45 AM »
Could you post the link to the original video? Is that on youtube, right?

111magic

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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #38 on: January 30, 2015, 10:36:30 PM »
Could you post the link to the original video? Is that on youtube, right?

https://www.m-core.org
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111magic

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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #39 on: February 25, 2015, 05:47:43 PM »
http://247cryptonews.com/coin-magi-dream-transformed-in-reality-for-cpu-miners/

New article about the unique Magi (XMG)

Also check the new website here: www.coinmagi.org
https://www.m-core.org
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111magic

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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #40 on: February 25, 2015, 05:50:37 PM »
Nice. Magi accepted as digital currency on www.CryptoCloudHosting.org
Thanks and welcome to the great Magi community!
https://www.m-core.org
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111magic

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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #41 on: February 26, 2015, 11:37:08 AM »
With stable overclock of Raspberry Pi 2 @ 1 ghz without any additional heatsink you can mine XMG Magi Coin @ 5.24 Khash with minerd compiled like on my previous post (http://raspi2miner.is-great.org/xmg-magi-coin-rpi2-optimized/).

Fantastic, 5.24 Khash with low powered device!
https://www.m-core.org
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111magic

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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #42 on: February 26, 2015, 11:40:54 AM »
Herewith, an eclectic mix of Magi related services and general propaganda, referred to as MyMagi (I think I had to much free time yesterday!)   ;D

MyMagi CPU Cloud Mining Guide - http://mymagi.grn.cc

MyMagi Web Based Proxies - http://mymagi.uk.ht , http://mymagi.ws.gy , http://mymagi.ye.vc , http://mymagi.cc.vg and http://mymagi.xx.tn

All free domains on free hosting. I think the web host serves some ads, so installing ad-block plus or ad-block edge is probably recommended. Do not rely on these type of web proxies for strong anonymity or privacy.

Do rely on the Tor Network for strong anonymity and privacy.

MyMagi Tor Relay Server (Non-Exit) - http://tor.mymagi.grn.cc - https://atlas.torproject.org/#details/273D27CCF486A8A6C770B6C9117602BF11312246

Any revenues and contributions to existing MyMagi services will go towards new Tor Relay Servers and perhaps some paid hosting and a TLD.  :P 


I have set-up an additional 2 MyMagi Tor Relay Servers, so 3 in total - http://tor.mymagi.grn.cc

Original MyMagi Relay has been renamed to mymagi1nl;

- mymagi1nl - Netherlands - https://atlas.torproject.org/#details/273D27CCF486A8A6C770B6C9117602BF11312246

- mymagi1de - Germany - https://atlas.torproject.org/#details/F7FEB89E30F87DC3B632BFC452E7880EA2A5419B

- mymagi1fr - France - https://atlas.torproject.org/#details/693F83EB6743EC4DFAC1A98BBA7F887EAC9103D1 - N.B. GeoIP is skewed and showing US.



Some Magi-TOR information. Thanks to BitcoinFX
https://www.m-core.org
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111magic

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Re: [ANN] [XMG] Magi | 1st PoS-II | 1st PoM | Fair Distr | Tor | M7M CPU only
« Reply #43 on: February 26, 2015, 11:47:25 AM »
You can buy XMG on www.litebit.eu directly!

https://pexpeppers.com/ accepts Magi (XMG)
Buy your peppers there and pay with XMG! :)
https://www.m-core.org
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[Update 2] MagiPay - standalone payment gateway for Coin Magi

Prior updates:

[Update 0] Initial announcement:
https://bitcointalk.org/index.php?topic=735170.msg9731619#msg9731619

[Update 1] Tests:
https://bitcointalk.org/index.php?topic=735170.msg10039030#msg10039030

Little warm up

Formal launch: March 6, 12:00 PM Friday noon EST time.



I know we're very late; it's been a long waiting. I know you guys have waited for this again and again, I know, I know, the time I can invest into is rather limited especially most recently.

How does it work

  • A merchant creates an account at m-epays.com after successful registration one can create a payment box.
  • m-epays.com issues MagiPay account details.
  • Integrate MagiPay to merchant's website.
  • Customer clicks the 'Pay with magi' button, MagiPay connects to m-epays.com server and requests for a specific payment box.
  • m-epays.com issues a MagiPay address and the total amount to be paid.
  • Customer sends coins to the MagiPay address.
  • Once the payment is received and confirmed, the server informs the successful payment.
  • Upon confirmation of the payment, the server automatically transfer the amount of magi to merchant's registered external wallet address.

Merchant Banner

https://mega.co.nz/#!mJJUFSxT!kbJQJn50FeePaKXuUcIVAblDQ2W4UDGpT3nTF2XMYwE

Merchant tools

We're still looking into the WooCommerce wordpress option for easy integration, hopefully available at the launch. The following method is available for now by integrating php codes: https://github.com/magi-project/magipay-merchant

1. Register on https://www.m-epays.com;

2. Create payment box once login;

3. Relevant parameters generated at the time when payment box is created will be used in the php codes;

4. The php codes need to be placed appropriately at the site to enable the "pay by Coin Magi" option.

Detail documentation will be done at the launch along with refined website, and more details of merchant information will be given.


Huge news!!
Again a unique development for Magi (XMG).
Magi will get his own standalone payment gateway soon!
Formal launch: March 6, 12:00 PM Friday noon EST time
Thanks Joe. This will give Magi (XMG) a huge step forward.
Just ask with other coin has it?
Answer: The Coin of the Magi, coin of the Future!

1st POS-II 1st POM 1st M7M 1st SAPG!!
https://www.m-core.org
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