Topic: [ANN]Magicoin MAGIC (MAGI) - The MagiCurrency | Swisscex SwapHole RockyTrade

[dukektm]

Magicoin MAGIC (MAGI) - The MagiCurrency

http://www.cryptomagic.com

We are hosting a giveway: CLICK HERE

We most welcome (many many) miners with small-scale rigs, not "big".
We hope MGC are distributed among many many people, rather than big holder.
We do not want to be quick in and out, pump and down.
We do progress but be patient!

04/27 A few updates: www.cryptomagic.com up and running

• Our home: http://www.cryptomagic.com is up and running. Please specifically read the page: http://cryptomagic.com/resources/what-makes-magicoin-different.htm
• We have an on-going video contest (3.5 BTC reward+ 20,000 MAGIC bonus): see https://bitcointalk.org/index.php?topic=587328 and http://cryptomagic.com/misc/2014-04-27-video-contest.htm, hosted by Git_2058, Git_2058 is one of our teams
• We have a few plans and more will be announced: we will hire a few persons. Git_2058 may seek helps to expand Magicoin into Chinese community. We will also hire a person who will be specifically responsible for our News site which will be up soon.

A quick look of the homepage (www.cryptomagic.com):

Here is for fresh news & updates & plans. Be sure to check back.

New wallet (v1.0.1.2).

Exchanges: RockyTrade  SwapHole

Two additional mining pools:
http://pool.webcoin.us/magic
http://magic.nitro-pool.com
http://pool.webcoin.us/magic is very nice, with a built-in block explorer:
http://webcoin.us/magic/statistics/blockchain

Much more bounties available: PM me what you can do to improve MGC

The number of coins to be mined gradually increases with time (two weeks stabilizing at the normal value). Don't worry if you missed a few days of initial mining. Come and stay with us, and digggggg bigggggg Magicoins!!!

See here what matrix961 got 

I've been solo mining at about 750 kh/s and my first few blocks were around 6 coins each. I then had 1 or 2 at around 7 coins each this morning. I went home for lunch to check again and was surprised. I had gotten another 2 blocks around 12:00-12:16pm EST for 188 each! Is that right?

*Edit* I'm assuming the 2 blocks were from the magic time as stated above...

Website
http://www.cryptomagic.com

Downloads

Windows

- v1.0.1.2
- MAGIC!
- Openssl heartbleed fixed (all source compiling should use openssl built on Apr. 7, 2014 or later)
- Update seeds (basically .conf file is not necessary for network sync)
- Update checkpoints

zip file: Magicoin-v1.0.1.2.zip

- v1.0.0.3
- resolve ports issue, thanks to ocminer
- please use the new .conf file)
- windows daemon included

7z file: Magicoin-v1.0.0.3.7z
zip file: Magicoin-v1.0.0.3.zip
Google drive downloads


- v1.0.0.2
7z file: Magicoin-v1.0.0.2.7z
zip file: Magicoin-v1.0.0.2.zip
Linux: coming soon
Mac OS X: coming soon
Source code: https://github.com/magicoin/magicoin

Social
Facebook    Twitter

Configuration (save into a file magicoin.conf; a copy comes with the wallet too):

Code: [Select]

listen=1
daemon=1
server=1
rpcuser=user
rpcpassword=password
rpcallowip=localhost
addnode=88.190.29.9:35883
addnode=192.241.188.47:54708
addnode=107.170.40.164:33813
addnode=54.204.36.33:47233
addnode=107.170.52.79:50242
addnode=66.85.150.119:44483
addnode=195.12.60.154:35883
addnode=195.12.60.154:39454
addnode=188.226.175.6:50258
addnode=76.97.225.20:49720
addnode=76.97.225.20:35033
addnode=76.97.225.20:53002
addnode=162.243.125.68:39309
addnode=76.97.225.20:59727
addnode=107.170.218.104:33456
addnode=87.98.190.199:13622
addnode=162.243.219.192:38688
addnode=54.186.68.143:56850
addnode=69.39.239.227:42004
addnode=121.215.16.132:35883
addnode=144.76.100.197:56075
addnode=76.97.225.20:43343
addnode=107.170.136.42:41707
addnode=78.137.29.61:61566
addnode=78.137.29.61:59275
addnode=76.97.225.20:52719
addnode=75.142.64.32:35883
addnode=109.227.72.2:63136
addnode=109.227.72.2:54419
addnode=86.57.195.197:33400


RPC port: 35882
P2P Port: 35883

Launch: Apr. 8, 2014

Official Block Explorer:

www.magichain.info


Specifications

• Algorithm: Scrypt
• Magicoin distributes coins using the pattern similar to LTC; simply count its value by comparing with LTC, however, we do magicoins, see below for details
• 2.5 minute block targets
• Subsidy halves in 840k blocks (~4 years)
• ~84 million total coins
• 90% coins distributed "normally", i.e., halving every ~4 years, while 10% coins distributed magically (details explained below)
• In average, 50 coins per block
• 2016 blocks to retarget difficulty (use Kimoto Gravity Well - KGW algorithm)

Pools

http://mgc.charityminingpools.com/

https://www.cryptopoolmining.com/mgc/

http://pool.webcoin.us/magic

http://magic.nitro-pool.com

http://magic.24hash.com

http://mgc.dgbpool.com/

http://mgc.okaypool.com/

(Having issue with rewards, working with the DEV)

(we need more mining pools)

Exchanges

SwissCex

SwapHole

RockyTrade

Faucet

http://faucet.cryptomagic.com/

Forum: Cryptocointalk


News & updates

• 05/01/2014 - NEW exchange: SwissCex.
  

• 04/27/2014 - www.cryptomagic.com up and running.
  

• 04/27/2014 - Magicoin video contest (3.5 BTC reward+ 20,000 MAGIC bonus): see https://bitcointalk.org/index.php?topic=587328 and http://cryptomagic.com/misc/2014-04-27-video-contest.htm.
  

• 04/23/2014 - New wallet (v1.0.1.2).
  

• 04/28/2014 - A new exchange: RockyTrade.
  

• 04/23/2014 - A new exchange: RockyTrade.
  

• 04/23/2014 - Two additional mining pools:
  http://pool.webcoin.us/magic
  http://magic.nitro-pool.com
  http://pool.webcoin.us/magic is very nice, with a built-in block explorer:
  http://webcoin.us/magic/statistics/blockchain.
  

• 04/09/2014 - Thanks wzttide, we're exchange: SwapHole. A kind reminder: exchange is for exchange; do not store your coins in any exchanges unless you are planning trading. We've been seeing a few exchanges up and down, gone with significant amount of coins, coming with community complaint, and big loss in your assets, which is a pain to this community.
  

• 04/09/2014 - Sent out some of bounties; more are available all the time until an announcement is made sometime in the future. PM me what you can do for MGC.
  

• 04/08/2014 - MGC launched.
  

How does the magic work?

First a few graphs:

In simple, 10% of total coins are used as bonus and randomly embedded in the course of mining:

• Initial launch takes two weeks to stabilize; this is to prevent some "big" miners from taking over at the beginning when not many miners are involved. The very first few blocks have zero bonus; wait! this isn't insane? As compensation, Magic hours occur very soon: within the two-week period, there are three magic hours every day which produce the significant number of coins. Because of this, the average coins per block is 25 for the 1st day; when mining proceeds, coins per block exponentially increase to 45 at the 14th day of launch, which is the normal value. So don't go away, or you'll only get zero.
• For all the future mining, 45 coins per block are normally mined. If you have enough patience staying with us for a 2-week long, you will get Magicoins. There are 80 coins per block occurring in randomly selected two consecutive magic days in every two weeks. This process repeats; Magicoins get halved every ~4 years. So again don't go away, or you'll only get 90% of the coins.

Bounties

• Pools[/size][/color]
  
  • 10,000 MGC - 1st pool (awarded to CharityMiningPools)
  • 7,500 MGC - 2nd pool (awarded to lolcoind)
  • 7,500 MGC - 3rd pool (awarded to pclifes)
  • 7,500 MGC - 4th pool (awarded to appbox)
• News
  
  • 20,000 MGC - 1st published article
  • up to 50,000 MGC - article at CoinDesk, Bitcoin Magazine, Forbes, Money Week etc
• Video: 20,000 MGC - professional grade promotional video
• Forum: 15,000 MGC - Professional forum setup and maintenance
• Wallets
  
  • 5,000 MGC - Linux (claimed)
  • 5,000 MGC - Mac (claimed)
• ANN translations
  
  • 1,000 MGC each
  • Chinese ANN translation - 1,000 MGC (awarded to PuYang)
• Will give out more bounties; PM me what you can do to improve MGC

FAQ:

• The mining earning seems bad, why?

Coins increase with time, there is magic time, big jump up in super blocks (magicoins) every day. After 14 days, coins stabilize at normal value (45 MGC/block + magicoins).   

• How to CPU pool mine?

1. Download Stratum mining proxy [Link; linux down the source and compile]
2. Create a .bat file (for windows), e.g., start_scrypt_PRC.bat, use a text editor to open it, add a line and save (be sure file extension is really .bat):
[/list]

Code: [Select]

mining_proxy.exe -o mgcus.charityminingpools.com -p 3338     The bat file and mining_proxy.exe should lie in the same folder; Above Stratum mining proxy points to pool: mgcus.charityminingpools.com, 3338 is the port; so basically, you can do the same thing for any pools.
3. Double click it and a dos command window should show up, no obvious errors occur, you are good to go
4. You can do cpu mining in the same computer you run the stratum proxy, or in a different computer. Now get a cpu miner [Link]
5. In the folder where cpu miner (minerd.exe) lies, create another bat file, and add the following line

Code: [Select]

minerd.exe -a scrypt -t 4 -o http://127.0.0.1:8332 -u username -p password    if you cpu mine in the same computer, or

Code: [Select]

minerd.exe -a scrypt -t 4 -o http://192.168.0.10:8332 -u username -p password    if you cpu mine in a different computer. Here, username and password are related to the worker you set up for the pool mining
    NOTE: the above "-t 4 " means using 4 threads. If you have a 8-core cpu, you can use up to 8. You'll need to optimize the number of threads such that CPU mining does not affect GPU mining. Also, using maximum number of threads does not mean maxim hashing. Usually, leaving 1 thread for GPU should be fine, but you may give more.
6. Run the bat file, you will see hashing!  post if you get into any problems.

• How to GPU solo mine?

1. Set .conf file using the above default. You can set any rpcport you want
2. Start Qt or daemon
3. Set up cgminer parameters, the url should be localhost and not using stratum, e.g.,

Code: [Select]

"pools" : [
        {
                "url" : "127.0.0.1:35882",
                "user" : "user",
                "pass" : "password"
        }
]    35882 is the RPC port, you can also use command line parameters:

Code: [Select]

cgminer --scrypt -o http://127.0.0.1:35882 -u user -p password4. Run cgminer

• How do I mine coins when no pools are available yet?

1) Download the wallet & open it
2) Go to menu: Help -> Debug window -> then Console
3) Type in the following command and then check information using: getinfo, getbalance, getmininginfo (hash rate)

Code: [Select]

setgenerate true

• My wallet is not syncing?

Check your configuration file <magicoin.conf> which should lie in the proper folder:
Windows 8: C:\Users\username\AppData\Roaming\magicoin
Windows XP: C:\Documents and Settings\username\Application Data\magicoin
For windows user: type %appdata% in the address bar of the file explorer and "enter"
Linux: ~/.magicoin
If no magicoin/.magicoin folder presents, create a one

Signature
Support this coin: put the following in your signature:

Code: [Select]

[center][url=https://bitcointalk.org/index.php?topic=548368.0][color=red]Magicoin - digggggg bigggggg magic coins![/color][/url][/center]

Enjoy!