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

[tmkn]

thank you for all your advice  and information   

Yw
This is what happens if you generate too much and nobody wants to buy:
https://coinmarketcap.com/currencies/xylo/

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[Dead Things]

Yw
This is what happens if you generate too much and nobody wants to buy:
https://coinmarketcap.com/currencies/xylo/

A future cautionary tale!

[tmkn]

Yw
This is what happens if you generate too much and nobody wants to buy:
https://coinmarketcap.com/currencies/xylo/

A future cautionary tale!

Indeed
With 160 mns it is generating a roi of 20,000% per year..
So you need 1000 coins for a MN and currently it generates 500/day lol
At least this is what mnrank says..

[mymailinator]

I'm very much interested in building the windows wallet from source but the github instructions seem to be missing steps or are possibly referring to older versions of the software and I cannot follow properly. For example on step 5) "Run msys.bat located in C:\MinGW49-32\msys\1.0", there is no MinGW49-32 directory at all and I even made sure to install MinGW 5.3.0 from the Tools menu in the latest version of Qt installer (Qt 5.10.0). The closest I can find is C:\Qt\Qt5.10.0\5.10.0\mingw53_32 but it does not contain an msys directory or msys.bat. I then downloaded and installed the latest MinGW from http://www.mingw.org and lo and behold I now have the msys.bat so I was able to continue through step 7 and build leveldb but once again on step 10 there is no C:/dev directory and that is where I am stuck. Step 11 mentions running the 49-32-qt5.bat file which I have nothing similar on my machine so I did a search and pulled up instructions on how to build similar windows wallets for some other coins: https://github.com/CoinProjects/AmsterdamCoin and https://github.com/coinonat/CoinonatX. I mean the steps for those are pretty much word-for-word identical instructions which may make sense for these Qt wallets since they are basically the same thing with slightly different code to work with a different blockchain, but nothing is explained about how these folders should magically appear on a computer.

I saw a msg here about joining slack to ask the devs but when I try to enter the magnet slack it says I cannot log in (Sorry, you entered an incorrect email address or password) - and yes, I am able to log into other slack channels just fine so it appears this is invite only or locked? (I admit I know very little about slack at this moment as I have not had to use it up to this point).

Truthfully the only reason I want to build from source instead of just download the compiled wallet is because of the virus warnings. Apparently other wallets have this same warning but I am staking in 6 other coins, all in qt wallets and zero of them give me virus warnings. I need to prove to myself that compiling from source will trip the same warnings before I can truly trust this wallet but Im almost feeling like the instructions are intentionally vauge and difficult to follow. If someone can point me in the right direction I would be more than happy to write some up-to-date instructions so that even the non-developers among us can follow along. It seems I am not the only one who is having troubles with this process as there is a recent issue posted on git about this very problem https://github.com/magnetwork/magnet/issues/2. For the record, I am a software developer by trade and could probably figure the rest out on my own if I spend a few more hours on this problem but I have never done much with python development so the tools are foreign to me currently. Has anyone else been able to successfully build the windows wallet?

[BartoszN1990]

why price mow down when dev relise wallet ? price should go up but go down ?

[subhanallah]

Pour coins

What is pour ? poor you mean ?
ah btc is in red other alt coins are green . but this coin is in red. perharps green later  

[tmkn]

Pour coins

That's because of the 'intelligent' way to reward masternodes - using this flipping coin/randomness.
There are a lot of new coins generated every day but nobody will want to buy them after they realise magnet masternodes are useless.. Especially that mnrank say one thing and the reality is much much worse..
I hope the dev(s) learn a lesson from this.
The price will go further down. I have no interest to buy, I sold my 2 MN coins when price was $0.4, so don't say that I am telling you this because I want to buy more..

There are 192000 new coins generated daily through pow/pos, so every 5 days 1 million mag hit the (only) exchange.
Now there are 4.4 mil mag coins, there will be 8 mil by Christmas, so go figure out what will happen with the price..

[tmkn]

Developer! Why is a day only once 100 coins came in and the rest of the trifle 0.0000...well Written and on the website 195 coins per day , and 331 mnrank coin per day.And there really is 100 coins only!

http://images.vfl.ru/ii/1512541557/78703406/19704022_m.png

Magnet is PoS/PoW mining with a 1 in 2 chance occurrence of either. So masternodes receiving 50% of mining rewards also have a 1 in 2 chance of receiving either a PoS or a PoW reward.

PoW = 200 Mag so masternodes receive 100 Mag when they win PoW.

PoS = coin-day * 7% / 365 so masternodes receive X Mag depending on the staking amount.

The screen above shows that your masternode received 5 rewards. 4 of which are PoS and one is PoW. Now this is like flipping a coin, eventually you will end up with around 50% PoS and 50% PoW.

One more important thing, verify that you have disabled staking (staking=0) in your configuration file as this could potentially reset your rank and you would lose a chance at an actual PoW reward whenever your coin stake wins the block. PoS rewards are typically small as the network supply is still small too but we can easily see a day where staking rewards will outperform PoW rewards.

mnrank.com shows wrong data for Magnet. The reward is much lower (about half of what is listed there).
No wonder why the MAG price is sinking..

As I told you many times on Slack, we are not controlling what MNRANK shows on their website. Stop spreading lies about us, again we are not controlling what MNRANK decides to display.

I wrote the listing script here http://magnetwork.io/checkmn and I made sure that the calculation displays correct average - it has always done so. You just did not bother to check it yourself. Now I understand you are frustrated because you got the wrong information from a 3rd party website, however there is a major difference between frustration and spreading lies for not checking our official pages.

Again, we have nothing to do with numbers displayed on MNRanks, I have no idea how they calculate their estimate and our official MN page shows an average that is not inflated (feel free to check the script!) hence the major difference between the 2 numbers.

Again here is it:

90 seconds per block = 960 blocks daily in average.
50% PoW, 50% PoS means 48000 MAG through PoW + INSIGNIFICANT_AMOUNT through PoS (my script entirely ignores this amount, how more fair can you be?).
You take this and divide by the number of masternodes and there you go, it gives you an average of earnings per masternodes.

YET, things to consider.

1) A very high standard deviation because the rewards vary from ~0 to 100 MAG. So you may see masternodes earning 400 MAG and others less than 1 MAG with yet an average of 200 MAG, we have been explicit about this - always.

2) The network conditions being constantly on the move, the arithmetic mean would not pretend to hold long enough to be practically observed.

Hope this ends the lies my friend.

Time and the price will prove..

[Diggerpower1]

Hello
i mining Magnet since thursday, on Friday i got a payout from magnetpool.io.
But after this nothing happend. No payout since the date and only 180 pending blocks.
Is there something wrong. Must i Change Pool? Wich is the best Pool?

[blockonomy]

https://github.com/CoinProjects/AmsterdamCoin and https://github.com/coinonat/CoinonatX. I mean the steps for those are pretty much word-for-word identical instructions which may make sense for these Qt wallets since they are basically the same thing with slightly different code to work with a different blockchain, but nothing is explained about how these folders should magically appear on a computer.

As suggested above, try to join us on slack it is much easier to provide live help there than on forums.

Now technically the documentation to compile the code base for Windows may have worked several years ago in previous forks but since it has not been updated, as you noticed, the procedure is merely not applicable anymore "as-is". Systems and all tools in the chain, constantly receive updates. The code base itself received updates (from an autoconf build to qmake etc...), you will need additional steps to install dependencies that were either provided by default before and are now available only as adhoc installs...

The Magnet QT wallet for Windows is compiled using MXE (M cross environment) on Linux, and that's probably the easiest way rather than trying to get a functional toolchain on Windows.

We are planning to update the docs to compile under the various systems (windows, linux, macos) as time allows but in the meantime I encourage you to join us on slack - glad to help anytime there!

[AY000804]

the price is moving too much because of many small amount sell order, hopefully magnet can list at other major exchange to get the price stabilize and not letting those ppl to create too much panic sell.

I really appreciate all the hard work that dev has done , and hope this project can success.

[tmkn]

the price is moving too much because of many small amount sell order, hopefully magnet can list at other major exchange to get the price stabilize and not letting those ppl to create too much panic sell.

I really appreciate all the hard work that dev has done , and hope this project can success.

Don't you realize it's 'game over'?
Too many coins are created daily. There will be an increasing pressure to sell, especially from those who bought on the exchange and set up mn.

[tmkn]

the price is moving too much because of many small amount sell order, hopefully magnet can list at other major exchange to get the price stabilize and not letting those ppl to create too much panic sell.

I really appreciate all the hard work that dev has done , and hope this project can success.

Don't you realize it's 'game over'?
Too many coins are created daily. There will be an increasing pressure to sell, especially from those who bought on the exchange and set up mn.

When You realize we are 3 weeks old and having this much interest this early without 0 marketing on our side.. maybe the market conditions arent that bad?
We have very little information presented about what our plans are. Roadmap and webpage are just coming out.

Without any effort to reach more audience we have a market that can sustain 1500 sat per 1 mag nicely and everything is just starting.
Masternode number on network is increasing.
Even if someone sells under, price bounces back nicely.
So it may be Game Over for You but we are just starting to make our first moves.

There will be android wallet for easy MN monitoring when on the go and designated tool for interacting with You MN.
Right now we have 2 planned in-wallet features that personally i have not seen anywhere and should give a unique twist to the user experience.
Magnet Wallet 2.0 will have whole new look and more features available with the focus on everyday user.

Besides that we are currently making progress in the energetic side of our plans and addition to collecting data on solar mining we have a now connection to other types of green energy sources.
All this will bring an investing platform for the users, but this is still being put together and way too early for this stage in our development to be discussed further publicly.
More details on the website next week.

So instead of putting Your short sight out on the display - simply move on

I really appreciate your work and marketing, congratulations!
But there is a design problem - hyperinflation.

[drago777]

we have 278 masternodes, when we exceed 300 - 350, the rewards will drop a little and the price will come back up   just wait and do not sell low . we are all a community, not only the dev must let the world know this opportunity but we all

[Top0tun]

Hey team,
I just arrived here. Read thread and have questions.
1. What value do you propose ? All cryptocoins have same issue. I do not able to pay my bills with mags, I do not able to buy food(pizza:)?).
2. What differs MAGS from other coins(dash for example?)
3. When do you plan start work real ? All your month efforts so small . I think all should be done before start. Wallets, pools etc...
4. When do you ad support of hardware wallets(TREZOR for example)?
thanks for your answer

[andreas911]

After wallet install on vps I have the following issue:

Magnet:~/magnet# ./magnetd
./magnetd: error while loading shared libraries: libboost_system.so.1.62.0: cannot open shared object file: No such file or directory


I have do two times the masternode guide step by step, but every time the same issue.

How can I fix it?

[Morf01]

Hello!!!
Tell me more pools other than those on the first page?
Thank you!

[kabi123]

hi, can off pool do payouts every 6 or maybe 3 hours pls? 12 hours is to long in crypto world...
ty

[wren345]

MAG wallet Help!

I transfer 6000 MAG from coinexchange to my windows MAG wallet. But I cannot see any MAG in my wallet.

It shows that the MAG wallet cannot syn. I cannot find any masternode in my wallet.

Are there anyone can help me solve the issue?

Thanks！

[blockonomy]

After wallet install on vps I have the following issue:

Magnet:~/magnet# ./magnetd
./magnetd: error while loading shared libraries: libboost_system.so.1.62.0: cannot open shared object file: No such file or directory


I have do two times the masternode guide step by step, but every time the same issue.

How can I fix it?

magnetd is compiled against 1.62.0 boost libs. What linux distrib are you using?

Depending on your current version you may have to either install the libs, simlink or compile magnetd against your current boost version - in either case we can help let us know.