[ANN][MAG] MAGNET - GOES STELLAR - More in description / magnetwork.io

[dagoz87]

can anyone tell me why i only got Credit: 0.01371643 MAG payment from my mn

That is your POS reward, not MN reward. Every block MN reward is 100coins

[1715535733]

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[1715535733]

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[1715535733]

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[1715535733]

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[1715535733]

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[fynxgloire]

can anyone tell me why i only got Credit: 0.01371643 MAG payment from my mn

That is your POS reward, not MN reward. Every block MN reward is 100coins

Hi, can you explain how I can get POS? ( I know we need 10,000 coins for MN, just not sure if its the same for POS )

regards

[pshemek]

can anyone tell me why i only got Credit: 0.01371643 MAG payment from my mn

That is your POS reward, not MN reward. Every block MN reward is 100coins

it is not my pos coz i dont have any mature coins yet.
Debug information

Credit: 0.01371643 MAG

Transaction:
Coinstake(hash=1a406bf0cdfb0e08ec2199db674c37951de9a5aa95b33042bea29f1224b2e865, nTime=1514334096, ver=1, vin.size=1, vout.size=3, nLockTime=0)
    CTxIn(COutPoint(6281fb3515, 1), scriptSig=3044022034b316a5b6e223db)
    CTxOut(empty)
    CTxOut(nValue=135.60775754, scriptPubKey=031b191ae4af7dd9625e41ee8c8b8dbab306ccb1782b7da5dd27053306ccc63c46 OP_CHECKSIG)
    CTxOut(nValue=0.01371643, scriptPubKey=OP_DUP OP_HASH160 571ba4d0c19212463a22076421d23a7a5d7cfc70 OP_EQUALVERIFY OP_CHECKSIG)

Inputs:
MrFcWtjnLn551BeTZuuy9swTPxACLP5hwn Amount=135.5940411 MAG IsMine=false IsWatchOnly=false

this is what it say under my transaction

[dagoz87]

can anyone tell me why i only got Credit: 0.01371643 MAG payment from my mn

That is your POS reward, not MN reward. Every block MN reward is 100coins

it is not my pos coz i dont have any mature coins yet.
Debug information

Credit: 0.01371643 MAG

Transaction:
Coinstake(hash=1a406bf0cdfb0e08ec2199db674c37951de9a5aa95b33042bea29f1224b2e865, nTime=1514334096, ver=1, vin.size=1, vout.size=3, nLockTime=0)
    CTxIn(COutPoint(6281fb3515, 1), scriptSig=3044022034b316a5b6e223db)
    CTxOut(empty)
    CTxOut(nValue=135.60775754, scriptPubKey=031b191ae4af7dd9625e41ee8c8b8dbab306ccb1782b7da5dd27053306ccc63c46 OP_CHECKSIG)
    CTxOut(nValue=0.01371643, scriptPubKey=OP_DUP OP_HASH160 571ba4d0c19212463a22076421d23a7a5d7cfc70 OP_EQUALVERIFY OP_CHECKSIG)

Inputs:
MrFcWtjnLn551BeTZuuy9swTPxACLP5hwn Amount=135.5940411 MAG IsMine=false IsWatchOnly=false

this is what it say under my transaction

Even you active masternode, you will some time received pos rewards as well. Go and check magnetwork.io/checkmn to check if your masternode enable or not in the list (type your masternode vps ip address ) if you still cant figure out please join their slack / discord channel for fast response

[montrezor]

Can someone help me with wallet?
It does not sync and I dont know why.
https://puu.sh/yOZAH/b2434fe336.png

[dagoz87]

Can someone help me with wallet?
It does not sync and I dont know why.

Check first page ANN, and tried addnode and you good to go.

[yetme]

Can someone help me with wallet?
It does not sync and I dont know why.

you need to update the node list
add those lines to your magnet.conf

Code:

addnode=35.195.167.40:17177
addnode=35.199.188.194:17177
addnode=104.196.155.39:17177
addnode=35.197.228.109:17177
addnode=35.198.35.45:17177
addnode=35.197.145.93:17177
addnode=35.199.1.114:17177
addnode=35.201.4.254:17177
addnode=35.188.240.39:17177
addnode=35.199.48.8:17177
addnode=146.148.79.31:17177
addnode=104.196.202.240:17177
addnode=35.195.122.245:17177
addnode=35.198.82.29:17177
addnode=35.200.247.198:17177
addnode=35.200.22.69:17177
addnode=35.201.14.20:17177
addnode=35.198.23.18:17177
addnode=104.199.194.138:17177
addnode=35.185.189.143:17177

[ftguy]

can anyone tell me why i only got Credit: 0.01371643 MAG payment from my mn

You can get rewarded either by 100 MAG block or by 50% of coin mined, as far as I can recall, so it seems perfectly normal.

[xx63245613]

Just a normal masternode coin?Anything news?

[pshemek]

i couldnt get my mn to work properly but after setting staking to 0 in conf file it works now.

[petranator]

I like this coin.  A few things though before there will be any kind of real adoption..

1.  Get the Windows wallet app rebuilt in such a way that Windows Defender doesn't class it a virus and prevent it from being downloaded or installed by default.  This one thing is a huge barrier to people getting in - they just run to one of the other thousands of alt coins out there.  It nearly stopped me from bothering.  And is probably a ridiculously simple thing for the devs to fix.  Just do it.  NOW.

2.  Make it so that the wallet just syncs without having to hand edit config files in weird directories.  This isn't complicated.  The wallet software can be written to autogenerate the file properly, downloading the list of nodes from their site - and just query the user for a user/pass.  This way the wallet just works out of box.  Again, could be fixed with 5 minutes of work by the dev.  Do it.  NOW.

3.  Work toward getting listed on a more prominent Exchange.  This one I know is a long process, and less important in the short term - but it should be a next step for the team to increase volume.

Do these things, and this coin could grow legs.

[petranator]

Thanks for the response.

I have a MasterNode up and running, and made a bit of a rookie mistake.

After it mined 5 blocks, I send the 500 MAG to my desktop Windows wallet for storage.  After that I haven't mined anything in a day and a half, so I assumed moving the profits out killed off the MasterNode somehow. (Maybe raided some piece of the original 10,000 colat?)

So I moved all coin back to desktop wallet, sent a 10K transaction back to the MasterNode and started it up again.

Is there a way you can see if the Masternode is actually mining besides just waiting for successful block?

Is there a way to transfer surplus coins mined out to another wallet without screwing the MN up (in terms of the original investment?)

I think in the DASH world, they call this "Coin Control"

Thanks,

Nate

[petranator]

Ok, never mind on that last point - I found the SoftLock instructions.

I'm trying to wrap my head around something...

It shows there are just over 500 MN now running.

Are all of these locked @ 10,000 coins or are some multiples of 10K (ie. 80K or 150K)

Do you need a separate MN for each 10K transaction that you lock?

If a block is found every few minutes, that's more than 1K blocks a day.

Divided by 500 nodes, you could expect to get a couple block rewards a day on a single MN?

Thanks,

Nate

[panda111]

I like this coin.  A few things though before there will be any kind of real adoption..

1.  Get the Windows wallet app rebuilt in such a way that Windows Defender doesn't class it a virus and prevent it from being downloaded or installed by default.  This one thing is a huge barrier to people getting in - they just run to one of the other thousands of alt coins out there.  It nearly stopped me from bothering.  And is probably a ridiculously simple thing for the devs to fix.  Just do it.  NOW.

2.  Make it so that the wallet just syncs without having to hand edit config files in weird directories.  This isn't complicated.  The wallet software can be written to autogenerate the file properly, downloading the list of nodes from their site - and just query the user for a user/pass.  This way the wallet just works out of box.  Again, could be fixed with 5 minutes of work by the dev.  Do it.  NOW.

3.  Work toward getting listed on a more prominent Exchange.  This one I know is a long process, and less important in the short term - but it should be a next step for the team to increase volume.

Do these things, and this coin could grow legs.

1. We have submitted out win app to whitelisting with windows, but this can take time before they do so.

Right now we havent dug very deeply into the matter yet, but will do when there is more time.
If someone has knowledge about how this can be fixed faster than whitelisting with microsoft then we are all ears and will give out bounty for the info.
Until then adding the wallet as exclusion in AV program works well too.

2. Yes, You presumed right, we can understand this is a simple process.
At this time leaving syncing the wallet for the user is our preference so we have more tech oriented people on board at the start and we have a stronger backbone as community.
We will add the autogenerate feature when we are a bit more established ourselves.
Thank You for suggesting!

3. We have exchange listing in the roadmap saying Q1 2018. We also had unofficial announcement in the slack during Christmas about probable listing in january.

Blockexplorer and CoinMarketCap shows maximum supply 7.5 Mil and the real supply amount is 144 Mil. It should be fixed in CoinMarketCap.
Because that is misleading for potential buyers. I hope it can be corrected soon.
Thanks

[blockonomy]

Blockexplorer and CoinMarketCap shows maximum supply 7.5 Mil and the real supply amount is 144 Mil. It should be fixed in CoinMarketCap.
Because that is misleading for potential buyers. I hope it can be corrected soon.
Thanks

Hi,

You are confusing the current supply (7.5 million) which you can get using RPC command getinfo and the total supply (estimated to 1xx million) which can be more accurately estimated using this spreadsheet: https://docs.google.com/spreadsheets/d/1HF6lb_keU1buQGgr6ynENYskai2fH5fGlRcqfMlc2ME/edit#gid=0

Hope this clarifies.

[blockonomy]

Ok, never mind on that last point - I found the SoftLock instructions.

I'm trying to wrap my head around something...

It shows there are just over 500 MN now running.

Are all of these locked @ 10,000 coins or are some multiples of 10K (ie. 80K or 150K)

Do you need a separate MN for each 10K transaction that you lock?

If a block is found every few minutes, that's more than 1K blocks a day.

Divided by 500 nodes, you could expect to get a couple block rewards a day on a single MN?

Thanks,

Nate

- Yes, 500+ (can check live here http://magnetwork.io/checkmn/)
- Yes, 10K MAG exactly per masternode, multiples would not work and would require another transaction output.
- Aiming for 90 seconds / block so average 960 blocks daily in normal network conditions.
- 516 MN gives you a 0.194% chances every block so about 60% chances to receive a reward in 12 hours, 84% in 24 hours etc.

Spreadsheet to play with the reward odds here:
https://docs.google.com/spreadsheets/d/1zpXanRYZsWBPbHDEJpKX0jp9lkhXI1nRiJq9TgO1RjY/edit#gid=0

[thematosek]

Magnet Pool.
At this moment with pretty big hashrate (~1.8TH/s)
2% Fee
Located in europe
Payouts every 15mins after block confirmation.

Connect with:
HOST: stratum+tcp://igloopool.org:3533
USER: Your magnet address
PASS: C=MAG (Or leave blank)
http://igloopool.org/

Happy mining!

[panda111]

Blockexplorer and CoinMarketCap shows maximum supply 7.5 Mil and the real supply amount is 144 Mil. It should be fixed in CoinMarketCap.
Because that is misleading for potential buyers. I hope it can be corrected soon.
Thanks

Hi,

You are confusing the current supply (7.5 million) which you can get using RPC command getinfo and the total supply (estimated to 1xx million) which can be more accurately estimated using this spreadsheet: https://docs.google.com/spreadsheets/d/1HF6lb_keU1buQGgr6ynENYskai2fH5fGlRcqfMlc2ME/edit#gid=0

Hope this clarifies.
[/quote
Thats what is on the first page of this chat.so why do you think, I am confused?
Well, what is the max. supply an how long it takes there?

[blockonomy]

Blockexplorer and CoinMarketCap shows maximum supply 7.5 Mil and the real supply amount is 144 Mil. It should be fixed in CoinMarketCap.
Because that is misleading for potential buyers. I hope it can be corrected soon.
Thanks

Hi,

You are confusing the current supply (7.5 million) which you can get using RPC command getinfo and the total supply (estimated to 1xx million) which can be more accurately estimated using this spreadsheet: https://docs.google.com/spreadsheets/d/1HF6lb_keU1buQGgr6ynENYskai2fH5fGlRcqfMlc2ME/edit#gid=0

Hope this clarifies.

Thats what is on the first page of this chat.so why do you think, I am confused?
Well, what is the max. supply an how long it takes there?

Coin Market Cap and Explorer tell you how much is the current total supply, not the total supply that will ever be generated.

144 million is Total Supply (ever and estimated)
7.5 million is Total Supply (current)

With 30 halvings every 360K blocks it would take around 30 years to exhaust PoW.

[petranator]

K, one last thing I promise...

I started out with Staking = 1 on my MN.

I managed to mine a few blocks, and also got a few (tiny) staking rewards.

Setup Guide suggests Staking = 0 so that MN Ranking doesn't get reset...

What is the ranking?  Does it increase the likelihood of mining future blocks?  Does it really matter?

Thanks,

Nate