[ANN][MGT] Magnetz - Blockchain Torrents - Piratebay Replacer. (ICO, x13)

[AikaPool]

Hi!

Please add in OP list -  http://aikapool.com/mgt

Thanks!

[1714867523]

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[1714867523]

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[1714867523]

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[1714867523]

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[1714867523]

1714867523

[provenceday]

will watch this coin. some interesting concept.

but few months ago, there was a coin named torrentcoin//

here is the link:

https://bitcointalk.org/index.php?topic=633546.0

and source：

https://github.com/torrentcointeam/torrentcoin

[nanoprobe]

Another newbie dev X13 coin with an ICO. Don't be fooled into thinking this is anything new or different. Don't say you weren't warned.

[MAGNETZ]

Hi!

Please add in OP list -  http://aikapool.com/mgt

Thanks!

Added to the OP pool list.

[MAGNETZ]

A little present for the community before the ICO starts.

"What is Magnetz? - Meet Joe."


https://i.imgur.com/pF6aNBHl.png

[yourstruly]

You are aware decentralized databases are required to be a currency right? This seems like a good idea with an unnecessary currency system thrown in.

[MystPhysX]

So you want 55BTC to develop the main selling point of the coin without a solid proof of concept.

What you have right now is an x13+ocminer codebase which is 0.5BTC total and an OP from a Newbie account.

You are in the process of getting a POD from CryptoAsian which holds no real value as scams have happened even with POD, most notably Equinox which was for a similar ICO amount.

There have been too many ICO and IPO scams in the past few months for 1000s of BTC. I believe the responsibility for proving you are not about to scam us lies on your shoulders.

As such, please provide an explanation for your current and future investors as to why you believe they should trust you with their money.

First of all I wanna thank you for reposting this with a less aggressive tone.
The team is aware of the recent ICO scams and getting PoD certificate from CryptoAsian is just the first step to assure the community Magnetz is here to stay, Magnetz will deliver a wallet with torrents tab at launch and a torrent search engine less than 2 weeks after, the team will start adding torrents to the blockchain just 1-2 weeks after the blockchain is moving, we don't want to gain the community trust with PoD's, we'd rather gain it with our actions and constant tech deliveries.
Please read our roadmap for more info and follow us on twitter.

Okay let's update this with info from your posts so far:

What you have:

• x13 codebase with torrent code that ocminer says should work. Can't test because the blockchain isn't running.
• A tab in the wallet named "torrents" which won't have torrents till you start development 2 weeks after the ICO.
• A presentation video showing us what the coin will do and a very basic how. No proof of concept. (360p is terrible)

What you don't have but have promised for 55BTC:

• The main features of the coin which include the actual magnet url functionality. ETA unknown, preliminary tests start in Jan.
• A searchable block explorer for the various magnet links. Beta ETA mid Jan

Information regarding the coin and you:

• Newbie account with a self-moderated thread.
• Multiple senior members have posted in this thread doubting this coin and/or its functionality. Including, but not limited to, franckuestein, billotronic, nanoprobe, yourstruly (not me), and yours truly (me). ocminer has said the code looks good but is leaning towards you providing a proof of concept.
• You are running if not related to NooCoin which was an ICO for 250BTC (122BTC actual). You are yet to provide a source or wallet for that coin as well. Newbie account, self-moderated with some doubt/FUD going around.
• Another coin called torrentcoin offered the same functionality months back (thanks provenceday) thread and source

This is what I have found/inferred from the past few pages. Let me know if anything is wrong and I will edit it.

[MAGNETZ]

Hey everyone,

Our whitepaper is coming soon, it will have information regarding the torrent functionality and how it is gonna work, it will also feature a description of the torrent search engine website and how that will work with the blockchain.

There were some community members taking about reducing the ICO value,  we are open to suggestions and would like to hear what everyone has to say before/if we make any decision regarding this.

[RJX]

Hey everyone,

Our whitepaper is coming soon, it will have information regarding the torrent functionality and how it is gonna work, it will also feature a description of the torrent search engine website and how that will work with the blockchain.

There were some community members taking about reducing the ICO value,  we are open to suggestions and would like to hear what everyone has to say before/if we make any decision regarding this.

lovely, I miss TPB...

[magente67]

Hey everyone,

Our whitepaper is coming soon, it will have information regarding the torrent functionality and how it is gonna work, it will also feature a description of the torrent search engine website and how that will work with the blockchain.

There were some community members taking about reducing the ICO value,  we are open to suggestions and would like to hear what everyone has to say before/if we make any decision regarding this.

I'll surely invest,  I'm not sure about changing the ICO though. Maybe change it to 45 BTC, that would show the community you're not just here for the ICO money and it wouldn't stop you from developing the search engine and market the coin.

Just my two cents,  would be cool to hear from the other members of the community.

[MAGNETZ]

Hey everyone,

Our whitepaper is coming soon, it will have information regarding the torrent functionality and how it is gonna work, it will also feature a description of the torrent search engine website and how that will work with the blockchain.

There were some community members taking about reducing the ICO value,  we are open to suggestions and would like to hear what everyone has to say before/if we make any decision regarding this.

I'll surely invest,  I'm not sure about changing the ICO though. Maybe change it to 45 BTC, that would show the community you're not just here for the ICO money and it wouldn't stop you from developing the search engine and market the coin.

Just my two cents,  would be cool to hear from the other members of the community.

Thank you for your input, believe it or not it is very important for us to receive input from the community on stuff that we might not be doing that well.
Reducing the ICO (to your suggested amount of 45 or even 40 BTC) is something that is completely on the table,  the dev team would just like to hear some more input from other community members before/ if going forward with the ico reduction.

[franckuestein]

You are aware decentralized databases are required to be a currency right? This seems like a good idea with an unnecessary currency system thrown in.

+1 but adding a currency system on it could be interesting too.
e.g: if you found an interesting torrent you were looking for, you can donate some MGT to the uploader, don't you think so?

I don't know which system they're going to implement with everything but could be interesting to open a "donations" section on every address on the blockchain-site. 

[MAGNETZ]

You are aware decentralized databases are required to be a currency right? This seems like a good idea with an unnecessary currency system thrown in.

+1 but adding a currency system on it could be interesting too.
e.g: if you found an interesting torrent you were looking for, you can donate some MGT to the uploader, don't you think so?

I don't know which system they're going to implement with everything but could be interesting to open a "donations" section on every address on the blockchain-site. 

Hey!

Further details will be given in the whitepaper but basically you will need to spend magnetz in order to "post" a magnet link in the blockchain.

[franckuestein]

You are aware decentralized databases are required to be a currency right? This seems like a good idea with an unnecessary currency system thrown in.

+1 but adding a currency system on it could be interesting too.
e.g: if you found an interesting torrent you were looking for, you can donate some MGT to the uploader, don't you think so?

I don't know which system they're going to implement with everything but could be interesting to open a "donations" section on every address on the blockchain-site. 

Hey!

Further details will be given in the whitepaper but basically you will need to spend magnetz in order to "post" a magnet link in the blockchain.

Nice! 
Exactly, people have to spend 1 (or the amount stipulated), that's why a donation system or a remark in the MGT address can make others donate for their input to the community sharing torrents.

In my case if I found a torrent that I like and it's on the blockchain, maybe I'm going to donate to the account that shares it with us, like small tips or microdonations 

[MAGNETZ]

Merry Christmas and a Happy New year from the Magnetz team!

[magente67]

Merry Christmas and a Happy New year from the Magnetz team!

So, are you reducing the ICO to 45 BTC? I think that might be good for the coin, investors will feel like you hear their concerns and I'm sure it will sell out @ 45 BTC.

Let's hear what other investors have to say though...

[MAGNETZ]

Merry Christmas and a Happy New year from the Magnetz team!

So, are you reducing the ICO to 45 BTC? I think that might be good for the coin, investors will feel like you hear their concerns and I'm sure it will sell out @ 45 BTC.

Let's hear what other investors have to say though...

That's what we said, let's hear what other potential investors have to say.

But as we said before we are completely open to that possibility, if other potential investors agree we will do it. The ICO is starting tomorrow so we have to decide this quickly.

[MAGNETZ]

magnetz.info not registered ? 

Sorry, we had to delete your post so no one would register before us. We forgot to do this (the video was initially planned to be out tomorrow).

Anyways, it's  registered! 

[pnoch]

You are aware decentralized databases are required to be a currency right? This seems like a good idea with an unnecessary currency system thrown in.

+1 but adding a currency system on it could be interesting too.
e.g: if you found an interesting torrent you were looking for, you can donate some MGT to the uploader, don't you think so?

I don't know which system they're going to implement with everything but could be interesting to open a "donations" section on every address on the blockchain-site.  

Hey!

Further details will be given in the whitepaper but basically you will need to spend magnetz in order to "post" a magnet link in the blockchain.

Nice!  
Exactly, people have to spend 1 (or the amount stipulated), that's why a donation system or a remark in the MGT address can make others donate for their input to the community sharing torrents.

In my case if I found a torrent that I like and it's on the blockchain, maybe I'm going to donate to the account that shares it with us, like small tips or microdonations  

I don't know but this is looking more and more similar to vTorrent https://bitcointalk.org/index.php?topic=889481.280
Why should I (or anybody) invest in this ICO since VTR is already there and cheaper than your ICO price.

[MAGNETZ]

You are aware decentralized databases are required to be a currency right? This seems like a good idea with an unnecessary currency system thrown in.

+1 but adding a currency system on it could be interesting too.
e.g: if you found an interesting torrent you were looking for, you can donate some MGT to the uploader, don't you think so?

I don't know which system they're going to implement with everything but could be interesting to open a "donations" section on every address on the blockchain-site.  

Hey!

Further details will be given in the whitepaper but basically you will need to spend magnetz in order to "post" a magnet link in the blockchain.

Nice!  
Exactly, people have to spend 1 (or the amount stipulated), that's why a donation system or a remark in the MGT address can make others donate for their input to the community sharing torrents.

In my case if I found a torrent that I like and it's on the blockchain, maybe I'm going to donate to the account that shares it with us, like small tips or microdonations  

I don't know but this is looking more and more similar to vTorrent https://bitcointalk.org/index.php?topic=889481.280
Why should I (or anybody) invest in this ICO since VTR is already there and cheaper than your ICO price.

Hey! Thanks for your question.

We already discussed this question, in fact our two project might seem identical but are very different. I'll leave an earlier answer here:

"although our projects might share some common ground, they differ in some key aspects. From what I read you guys are still trying to get an in-wallet torrent client and torrent metadata in the blockchain out.
We will also have torrent metadata in the blockchain (and are 2 weeks away from this) but that's not the core of the project (although it's a necessary step). The main objective of our project is get out of the cryptospace and directly compete with the biggest torrent sites out there by proving an opensource and blockchain supported torrent tracker website"