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

[objoan]

Does anyone know what happened to Mag on CoinExchange?  My entire wallet just disappeared.   What the heck??? 

[Achillis]

Just wanted to say. That the mac wallet and MN setup guides are masterpieces. Never saw this beauty and recommend this MN and Wallet to any mac user out there. After working on other MN's 16 hours strait. This was heaven thank u dev for the good work.

[chiamalogio]

best masternode 2017

[candiela]

interesting project I think in the future he has every chance of success

[Wananavu99]

I was testing out the pools for this coin and none of them work on D3's, anybody doing anything different, I'm plugging these in and it's "dead"

x11.mine.eu1.miningpool.shop:3533
x11.mine.eu1.miningpool.shop:3533#xnsub

worker = <Wallet>
password = <nothing>

If you are going to mine magnet the password should be c=MAG
If you are using D3 the the password for you is c=MAG d=16

And I just noticed that the stratum is wrong, just use      eu1.miningpool.shop:3533

Thanks brother, it finally worked.  The only issue I have now is the wallet for windows.  It keeps messing up, hopefully I'll get that figured out soon. 

[Wananavu99]

Do you guys know why it's taking forever to sync the wallet with the network.  I've left my wallet open all night and it hasn't synced or started syncing. 

https://image.ibb.co/mO15vR/magnet.png

[Wananavu99]

Now I have another issue, the wallet just shut down and won't open

https://image.ibb.co/n2puN6/magnet1.png

[mrcroco]

Hi, will masternode stay active if i'll send coins from it, but there will be 10000+ MAG?

you need activate in settings display input control.
Then when you send money open input control and never select the 10 000 Mag entries among available money to transfer to not disabled your Master node.

 

[Beny9313]

Hi guys,

Do we now the maximum coin supply for Magnet coins?

I saw that they say that there will be approximately 144 000 000 coins. But how can somebody be sure about this? How can we be sure, that the same story which happened with B3 coin (they said to have a max supply of 2 000 000 000, and now they have 600 000 000 000) won't happen?

Can somebody answer this question as it is? Without FUDing or anything else. Just plain English with logical explanation.

Hi Beny,

Magnet being an hybrid PoW/PoS coin it is currently not possible to assess the exact amount of generated coins over time as PoS rewards are proportional to the coins staking in users wallet.

However, to help answer this question more accurately, I have setup a quick spreadsheet that you can use to run various simulations on the magnet specs:

https://docs.google.com/spreadsheets/d/1HF6lb_keU1buQGgr6ynENYskai2fH5fGlRcqfMlc2ME/edit#gid=0

For example, if we consider that 20% of the money supply is staking and an exact 50% PoS blocks are generated we can say that a total of 101231999.9 MAG will be generated when the last PoW halving occurs. PoS will continue rewarding wallets proportionally to their staking balance at 7% yearly interest.

The idea from there would be to update this spreadsheet officially with actual numbers after each halving so the extrapolation gets more accurate over time.

Note also the distribution has interesting properties as PoS does not catch up as fast as the PoW halving which we hope should create rewarding trends for early investors.

Finally, Magnet is a decentralized currency (and the upcoming roadmap will highlight even more the emphasis put on this) and as such, the consensus may change if that's what the community decides. Since changes would emerge from consensus, it would likely be to the benefits of magnet users but it is important to note that the very nature of consensus based protocols is to not fall under the control of the few - including devs.


Hope this helps.

Nice. I think you're one of the first ones from MN coins to answer to some simple yet important(from my perspective) questions. Thanks guys. I like honesty and straightforward approach. I had some doubts in investing in it, but I'm pretty convinced now. Keep up the good job

[SteepPool]

SteepPool added MAGNET
Payment BTC / MAG wallet

Code:

-o stratum+tcp://steeppool.com:3533 -u <WALLET_ADDRESS> -p c=MAG

Telegramm News: @steppoolnews
Forum topic: BitcoinTalk

[Wananavu99]

Is there a web wallet available because of the dozens of wallets I've downloaded this is the only one that's giving me grief.  There's no antivirus program blocking it either.  

Edit:  Just figured this out, apparently I didn't follow the instructions to the T...smh....like they teach you at boot camp...RTFM!!!...with added expletives 

[deepcryptomine]

OUR OFFICIAL WEBSITE IS LAUNCHED!

http://magnetwork.io/



We Thank You all who have stayed with Us and keep on building!

P.S. Developer Blog will be added soon.

The new website looks good. Also there is a merchant website https://bittawmart.com/ I see. Is it newly added? I was thinking about buying moonlander for awhile and may use Mag to buy it

[chiamalogio]

everything is amazing! thanks guys!!

[Mylastdance]

Is it ok, if my masternode have no bounty since 15th Dec 2017 00:10:20? Just POS. It's active 24\7.
I don't understand masternode's mechanics. There are:
- about 330 masternodes
- 960 blocks/day
- 100 coins for masternodes per block
960:330*100=290 coins for every masternode every day. I don't see my 290 coins:(


Watching others:
16th Dec 2017 06:27:29   df2be416407543b91feea22e5696de947481ecff1d4630c631c24aac8dd0f583   + 100.00000000
16th Dec 2017 06:00:53   b506cd5c3448674188a28fbac8b6f0b30924835cf75a034bc0a7526aacdcc7f1   + 100.00000000
16th Dec 2017 03:20:20   d7b5c13d406b240ab3e6f8e3fef159c840d1eab1afb89153ca06a4cee4525921   + 100.00000000

http://magnetwork.io/checkmn/ says:
Daily Reward Average
145.455 MAG / MN

What's wrong with mine mn?

[blockonomy]

Is it ok, if my masternode have no bounty since 15th Dec 2017 00:10:20? Just POS. It's active 24\7.
I don't understand masternode's mechanics. There are:
- about 330 masternodes
- 960 blocks/day
- 100 coins for masternodes per block
960:330*100=290 coins for every masternode every day. I don't see my 290 coins:(


Watching others:
16th Dec 2017 06:27:29   df2be416407543b91feea22e5696de947481ecff1d4630c631c24aac8dd0f583   + 100.00000000
16th Dec 2017 06:00:53   b506cd5c3448674188a28fbac8b6f0b30924835cf75a034bc0a7526aacdcc7f1   + 100.00000000
16th Dec 2017 03:20:20   d7b5c13d406b240ab3e6f8e3fef159c840d1eab1afb89153ca06a4cee4525921   + 100.00000000

http://magnetwork.io/checkmn/ says:
Daily Reward Average
145.455 MAG / MN

What's wrong with mine mn?

There are 960 blocks/day of which 50% are Proof-of-Stake blocks - so not =100 Mag reward but =wining-coinstake x day x 7% / 365 which at the moment is very small amount (0.01...). You have a flipping-coin chance to get either block rewards when your masternode is selected as winner by the network.

Now if I take the Masternode you mention above as an example, it has also been in a *losing* streak over the course of its activity (actually you always win but small amounts):

6th Dec 2017 04:47:12   30743e0f5e5f29e047ab2fa2f00e2cadb901565e5e50ab3293bf9bac27c23663   + 0.02627397
6th Dec 2017 04:44:00   1546115074be9cd3acd44221371e7270686f4ac9c75c224226970135524d1fbb   + 0.01649315
6th Dec 2017 01:48:16   0d6001d94abf3d6fdefb0845aaf691f009d3b071e0d752cac3df956c2f583168   + 0.02080821
6th Dec 2017 01:32:32   5933014f6a26df900ad7ce2b05d81f224ebe9491c55e70ad705ecdd86c73a672   + 0.03193150
6th Dec 2017 00:30:56   6166c5ce88cf6c787802e2acba17fee0dfede9b29700ca245d2362311b8aa7ea   + 0.01353698
5th Dec 2017 15:58:40   efff975701035768a33507145bf3c6fec4a8515333407c04856c15cdfa7107d7   + 0.05063013
5th Dec 2017 14:43:44   a97ba11f477c297d52cd758805703d22051772272b7dd18919437682fa9f28ba   + 0.02819178

The way you look at it is that over time you will get around 50/50 of either rewards. And if you look at the spreadsheet about money supply I published earlier there are chances that in the future PoS rewards are consistently rewarding as well since stake on the network will increase.

[drago777]

WOW I love this new website !! http://magnetwork.io/   

[chiamalogio]

i love the possibilty to buy miners with my MAG Masternode <3 True LOve

[shinchan888]

tried installing the wallet on Mac.  But the status is alway 'out of sync'. anything wrong?

[Jedgar]

Hi, will masternode stay active if i'll send coins from it, but there will be 10000+ MAG?

you need activate in settings display input control.
Then when you send money open input control and never select the 10 000 Mag entries among available money to transfer to not disabled your Master node.

 

Thanks, your advice helped me to resolve the problem

[Wananavu99]

tried installing the wallet on Mac.  But the status is alway 'out of sync'. anything wrong?

I had the same issue until I realized that I should do this final step "Close wallet and open magnet.conf file from data folder. Paste following code in magnet.conf file."  So make sure to do this.