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

[verb]

node worth pretty high for such a young project, but damn, 18 days ROI!

[1714126823]

1714126823

[captainbluff]

node worth pretty high for such a young project, but damn, 18 days ROI!

I disagree, node worth is too low. The lower the price, the more masternodes will be bought, which will lower rewards.

[blockonomy]

node worth pretty high for such a young project, but damn, 18 days ROI!

I disagree, node worth is too low. The lower the price, the more masternodes will be bought, which will lower rewards.

It would sound backward as when the demand for an asset/investment raises - the value always appreciates.
Hence the more masternodes bought, the higher the demand, the higher the price goes, the higher the returns.

[captainbluff]

node worth pretty high for such a young project, but damn, 18 days ROI!

I disagree, node worth is too low. The lower the price, the more masternodes will be bought, which will lower rewards.

It would sound backward as when the demand for an asset/investment raises - the value always appreciates.
Hence the more masternodes bought, the higher the demand, the higher the price goes, the higher the returns.

Then how do you explain the price of chain coin with it's 2000 + masternodes?

Another example is Innova, used to pay out $100 a day when there were less than 30 masternodes. Now only $35 when there are over 400 masternodes. Vivo another example.

My observation thus far, when the number of masternodes goes up too fast, the price doesn't always follow. This is why price needs to go up first so that so that masternode worth won't be too affordable.

[chrondosia91989]

Anyone else having issues with a hot/cold setup returning error "could not find suitable coins!"

I've tried to many times now to get this to work, and I don't think it is....I've also set up a ton of other masternodes, but this one does not behave the same....

The command "masternode winners" also returns blank fields, which I think is odd...

[blockonomy]

node worth pretty high for such a young project, but damn, 18 days ROI!

I disagree, node worth is too low. The lower the price, the more masternodes will be bought, which will lower rewards.

It would sound backward as when the demand for an asset/investment raises - the value always appreciates.
Hence the more masternodes bought, the higher the demand, the higher the price goes, the higher the returns.

Then how do you explain the price of chain coin with it's 2000 + masternodes?

Another example is Innova, used to pay out $100 a day when there were less than 30 masternodes. Now only $35 when there are over 400 masternodes. Vivo another example.

My observation thus far, when the number of masternodes goes up too fast, the price doesn't always follow. This is why price needs to go up first so that so that masternode worth won't be too affordable.

The price not keeping up is not correlated to the growing demand in masternodes (as I could also mention counter examples, famous one as well).

Higher buys/demand for masternodes will not bring the price down however I agree, if the utility-value delivered by a currency does not match the expectations it does not matter how many masternodes, the price will go down.

Dash managed to maintain a high price with a high number of nodes because it delivers an exceptional value with its currency. This is were the focus needs to be basically but the worries are not about the number of masternodes imho.

[captainbluff]

node worth pretty high for such a young project, but damn, 18 days ROI!

I disagree, node worth is too low. The lower the price, the more masternodes will be bought, which will lower rewards.

It would sound backward as when the demand for an asset/investment raises - the value always appreciates.
Hence the more masternodes bought, the higher the demand, the higher the price goes, the higher the returns.

Then how do you explain the price of chain coin with it's 2000 + masternodes?

Another example is Innova, used to pay out $100 a day when there were less than 30 masternodes. Now only $35 when there are over 400 masternodes. Vivo another example.

My observation thus far, when the number of masternodes goes up too fast, the price doesn't always follow. This is why price needs to go up first so that so that masternode worth won't be too affordable.

The price not keeping up is not correlated to the growing demand in masternodes (as I could also mention counter examples, famous one as well).

Higher buys/demand for masternodes will not bring the price down however I agree, if the utility-value delivered by a currency does not match the expectations it does not matter how many masternodes, the price will go down.

Dash managed to maintain a high price with a high number of nodes because it delivers an exceptional value with its currency. This is were the focus needs to be basically but the worries are not about the number of masternodes imho.

DASH is the only one I can think of where the price went up as more masternodes were added. The majority of the masternode copies out there do not follow this rule.

[blockonomy]

DASH is the only one I can think of where the price went up as more masternodes were added. The majority of the masternode copies out there do not follow this rule.

Yes, the exception is much correlated to Dash exceptional value which has delivered up to the expectations allowing its price to sustain. The goal with magnet is to deliver and focus on such points as well, differentiating and bringing value through ongoing feature releases (the coming weeks will shed light ont he bigger picture).

[CoinCatcher74]

Hi,

Its seems that my masternode is running ok (IP: 172.110.22.236) as it has already paid out a reward, but it has been showing with an Active (secs) of 00m:00s in my wallet for the last 4 hours?

Also, on the Linux VPS, when I run "magnetd masternode status" it gives the following output:

{
    "vin" : "CTxIn(COutPoint(efbbab61a4, 1), scriptSig=)",
    "service" : "172.110.22.236:17177",
    "status" : 9,
    "pubKeyMasternode" : "MdLfwYFWDcXKB9G48jZbGpkYesxuo96rX8",
    "notCapableReason" : "Could not find suitable coins!"
}

Should I be concerned about this notCapableReason? Is everything running ok?

Thanks for the help

I presume a hot/cold setup so VPS would not have access to coins and it would be fine in that case.
Your MN appears fine in my list too.

Thanks for checking blockonomy, it has paid out 9 times now so it seems to be running correctly, I was just confused with the status. I am pretty new to all this and followed a mixture of guides for the masternode setup, its a cold wallet setup so sort of makes sense but couldn't find any info on the notCapableReason.

Just for clarification, with a cold wallet setup, I presume there is no way to use the files from the VPS to access the coins? I just want to be sure I am as secure as possible with this.
 

[blockonomy]

Hi,

Its seems that my masternode is running ok (IP: 172.110.22.236) as it has already paid out a reward, but it has been showing with an Active (secs) of 00m:00s in my wallet for the last 4 hours?

Also, on the Linux VPS, when I run "magnetd masternode status" it gives the following output:

{
    "vin" : "CTxIn(COutPoint(efbbab61a4, 1), scriptSig=)",
    "service" : "172.110.22.236:17177",
    "status" : 9,
    "pubKeyMasternode" : "MdLfwYFWDcXKB9G48jZbGpkYesxuo96rX8",
    "notCapableReason" : "Could not find suitable coins!"
}

Should I be concerned about this notCapableReason? Is everything running ok?

Thanks for the help

I presume a hot/cold setup so VPS would not have access to coins and it would be fine in that case.
Your MN appears fine in my list too.

Thanks for checking blockonomy, it has paid out 9 times now so it seems to be running correctly, I was just confused with the status. I am pretty new to all this and followed a mixture of guides for the masternode setup, its a cold wallet setup so sort of makes sense but couldn't find any info on the notCapableReason.

Just for clarification, with a cold wallet setup, I presume there is no way to use the files from the VPS to access the coins? I just want to be sure I am as secure as possible with this.
 

Glad to hear! Yes that's correct, the VPS does not have access to the funds, the controlling wallet is local.

[captainbluff]

Hi Dev,

I am currently running 8 MNs in separate windows VPS. About 12 hours ago, I restarted all my MNs since they stopped receiving rewards after I withdrew some tokens but kept  balances above 10K. Ialso took your advice and added masternodesoftlock=1 to my configs. However since then, all but 1 MN has received MN rewards ( 100 tokens ).  It has received staking rewards several times but not masternode rewards. Should I renew the privatekey and restart? Or just let it run for 24 hours?

[Akuaja]

Hi anyone can give manual for masternode implementation? Or other coin masternode manual that using the same step so I can follow to install the magnet masternode in Linux VPS

I would also like to know

The official documentation is coming along with the release of website and other documentation
In the meantime this current unofficial draft should get you started:
https://drive.google.com/open?id=1B4eTYoSsSXLCOiRd6K8u07UIpaosIisq

Hi I have followed the guide  until  command ./magnetd
root@iZt4ng0muborkfii5j8zjeZ:~/magnet# ./magnetd
./magnetd: error while loading shared libraries: libboost_system.so.1.62.0: cannot open shared object file: No such file or directory

Can Anyone help me, What should I do?

[tek-g]

What is the discrepancy b/w the 100 MN payouts and the lower random amounts?

For example. I was doing 500-600 per day, and then today I have had only one 100 block, and the rest have been dust. Just trying to figure out why you sometimes get large rewards, and other times you get dust rewards.

[blockonomy]

Hi anyone can give manual for masternode implementation? Or other coin masternode manual that using the same step so I can follow to install the magnet masternode in Linux VPS

I would also like to know

The official documentation is coming along with the release of website and other documentation
In the meantime this current unofficial draft should get you started:
https://drive.google.com/open?id=1B4eTYoSsSXLCOiRd6K8u07UIpaosIisq

Hi I have followed the guide  until  command ./magnetd
root@iZt4ng0muborkfii5j8zjeZ:~/magnet# ./magnetd
./magnetd: error while loading shared libraries: libboost_system.so.1.62.0: cannot open shared object file: No such file or directory

Can Anyone help me, What should I do?

What linux distrib are you running? You can check your system libs:
locate libboost_system.so

[blockonomy]

What is the discrepancy b/w the 100 MN payouts and the lower random amounts?

For example. I was doing 500-600 per day, and then today I have had only one 100 block, and the rest have been dust. Just trying to figure out why you sometimes get large rewards, and other times you get dust rewards.

Hi Dev,

I am currently running 8 MNs in separate windows VPS. About 12 hours ago, I restarted all my MNs since they stopped receiving rewards after I withdrew some tokens but kept  balances above 10K. Ialso took your advice and added masternodesoftlock=1 to my configs. However since then, all but 1 MN has received MN rewards ( 100 tokens ).  It has received staking rewards several times but not masternode rewards. Should I renew the privatekey and restart? Or just let it run for 24 hours?

To clarify, Masternodes earn 50% of all mining rewards, that includes both PoS and PoW.

PoW are currently at 200 Mag. 100 Mag goes to masternode winner each block. PoS would vary depending on staking which is computed in coin-day units x 7% / 365. So basically at the moment these PoS rewards are quite low but could later on earn more than PoW blocks when wallets are staking more coins. (a 5-day old 100K stash would reward as much as a PoW block).

Since the network is pretty new, staking occurs with small amounts and these are the rewards you get. When your MN is selected as winner you have a 50/50 chance to be rewarded with PoW or PoS. Both types would reset your rank.

Hope this clarifies.

[blockonomy]

NEW WALLET 1.2.1 UPDATE

Masternode owners now have the ability to “soft” lock the masternode collateral. When the option is turned on, the wallet will not select masternode transaction as input to new transactions. This behavior can be overridden by using the Coin Control Features and explicitly selecting the collateral. Simply add the following line to your config file to use: masternodesoftlock=1
The GUI was incorrectly reporting “Not in the masternode list” while syncing to the Magnet Network (this can be a slow process as the network is still small). The message has been updated to report the appropriate reason. Additionally, in case of actual failure to start a masternode, the error message will be displayed in the list.
As usual don’t hesitate to reach out on Slack for faster assistance.
Enjoy!


Source Code
GitHub

[tek-g]

To clarify, Masternodes earn 50% of all mining rewards, that includes both PoS and PoW.

PoW are currently at 200 Mag. 100 Mag goes to masternode winner each block. PoS would vary depending on staking which is computed in coin-day units x 7% / 365. So basically at the moment these PoS rewards are quite low but could later on earn more than PoW blocks when wallets are staking more coins. (a 5-day old 100K stash would reward as much as a PoW block).

Since the network is pretty new, staking occurs with small amounts and these are the rewards you get. When your MN is selected as winner you have a 50/50 chance to be rewarded with PoW or PoS. Both types would reset your rank.

Hope this clarifies.

Yeah, it does. Appreciate the information.

[tek-g]

Is there a discord group setup for Mag yet? I have only seen the Slack channel listed, or did I miss it?

[captainbluff]

What is the discrepancy b/w the 100 MN payouts and the lower random amounts?

For example. I was doing 500-600 per day, and then today I have had only one 100 block, and the rest have been dust. Just trying to figure out why you sometimes get large rewards, and other times you get dust rewards.

Hi Dev,

I am currently running 8 MNs in separate windows VPS. About 12 hours ago, I restarted all my MNs since they stopped receiving rewards after I withdrew some tokens but kept  balances above 10K. Ialso took your advice and added masternodesoftlock=1 to my configs. However since then, all but 1 MN has received MN rewards ( 100 tokens ).  It has received staking rewards several times but not masternode rewards. Should I renew the privatekey and restart? Or just let it run for 24 hours?

To clarify, Masternodes earn 50% of all mining rewards, that includes both PoS and PoW.

PoW are currently at 200 Mag. 100 Mag goes to masternode winner each block. PoS would vary depending on staking which is computed in coin-day units x 7% / 365. So basically at the moment these PoS rewards are quite low but could later on earn more than PoW blocks when wallets are staking more coins. (a 5-day old 100K stash would reward as much as a PoW block).

Since the network is pretty new, staking occurs with small amounts and these are the rewards you get. When your MN is selected as winner you have a 50/50 chance to be rewarded with PoW or PoS. Both types would reset your rank.

Hope this clarifies.

Thanks for the clarification, but I think I found the problem with that one masternode.  Running the command "masternode status" shows it with status 2, all my other masternodes show status 1. When re-issued  masternode start, it changed status to 1. Now the question is, what causes it change to status 2?

[progmax]

40 hours no block?