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

[WilderX]

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.

DEV I think your 55BTC ICO is OK and this concept is GREAT if you really can pull it off!

Could you elaborate what are the uses of the MGT currency in this system other than that putting a link into blockchain will cost?

Would it be possible for example to somehow make the peers have to pay MGT for the seeders? So that seeding would actually be rewarding and result in healthier torrents?

Also maybe if peers would have to pay MGT for the original uploader so it would motivate to upload content? Have you considered these sort of uses for your MGT and would it be technically possible?

[1714894447]

1714894447

[MAGNETZ]

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.

DEV I think your 55BTC ICO is OK and this concept is GREAT if you really can pull it off!

Could you elaborate what are the uses of the MGT currency in this system other than that putting a link into blockchain will cost?

Would it be possible for example to somehow make the peers have to pay MGT for the seeders? So that seeding would actually be rewarding and result in healthier torrents?

Also maybe if peers would have to pay MGT for the original uploader so it would motivate to upload content? Have you considered these sort of uses for your MGT and would it be technically possible?

This are some good ideas right there, I'm not ssure if the second one (peers have to pay MGT to the original uploader) is doable because it goes against the idea that anyone can download the torrent and makes it a bit of a premium thing.
But we do like the idea of rewarding seeding,  maybe have some PoS inspired system where you win MGT for seeding time? To do this we would need to have an in-waller system that checks if someone is seeding or not.
This is a good idea right there, we will keep it in mind.

[minerpools]

I'm in!
http://mgt.minerpools.com/

Dev : please add it to the op, thanks!

[MAGNETZ]

I'm in!
http://mgt.minerpools.com/

Dev : please add it to the op, thanks!

Thanks for your interest. Added to the OP!

[franckuestein]

I'm in!
http://mgt.minerpools.com/

Dev : please add it to the op, thanks!

Nice! I've been minting some crypto-currencies there and pool is working fine with great support from their team 
Getting my rig ready to mine some MGT  

Let's see if in the launch coin don't have any problem and we can start minting correctly with a great release.

[MAGNETZ]

5 more hours until launch! Get ready.

[kosaet]

Dev, mining and ico start together after 2 hours , right ?

[MAGNETZ]

Dev, mining and ico start together after 2 hours , right ?

Yes, ICO and mining will start at the same time.

[SimkoMiner]

What is the max hashrate I could get with Radeon 280X on X13? Never mined with this algo.

[JuanHungLo]

What is the max hashrate I could get with Radeon 280X on X13? Never mined with this algo.

you should send a PM to Wolf0.   

[kosaet]

What is the max hashrate I could get with Radeon 280X on X13? Never mined with this algo.

i have 4.1-4.2

[SimkoMiner]

What is the max hashrate I could get with Radeon 280X on X13? Never mined with this algo.

i have 4.1-4.2

Can you please advice what Catalyst version, what OS and what miner?

[RJX]

Dev, mining and ico start together after 2 hours , right ?

Yes, ICO and mining will start at the same time.

ICO will end when 55 BTC of MGT is purchased @ 733 satoshi, correct?

ICO and mining start at the same time so until all MGT is purchased @ 733 sat, miners CAN offer at lower prices.


Am I missing something?

[spartak_t]

Dev, mining and ico start together after 2 hours , right ?

Yes, ICO and mining will start at the same time.

ICO will end when 55 BTC of MGT is purchased @ 733 satoshi, correct?

ICO and mining start at the same time so until all MGT is purchased @ 733 sat, miners CAN offer at lower prices.


Am I missing something?

Nope... you're right.

[MAGNETZ]

Dev, mining and ico start together after 2 hours , right ?

Yes, ICO and mining will start at the same time.

ICO will end when 55 BTC of MGT is purchased @ 733 satoshi, correct?

ICO and mining start at the same time so until all MGT is purchased @ 733 sat, miners CAN offer at lower prices.


Am I missing something?

The market will stay closed until ICO ends. Miners will only be able to enter the market with their coins when ICO is over.

[groggin]

   

Magnetz is a new cryptocurrency which aims to use the blockchain as the biggest torrent repository in the world, taking over website likes kickasstorrents, piratebay and monova.

2-3/01/15 - Blockchain torrent search engine (alpha version) is released, dev team starts adding magnet links in the blockchain

Good question! Magnet links will be attached to transactions and they will stay written in the blockchain forever, when the open source search engine is out the dev team will be adding the existing torrents to the blockchain (+-4M torrents) and we will have a torrent-adding bot to add the latest torrents to the blockchain. Users can also add their own magnet links to the blockchain. This prevents the global torrent database from being taken down.

so, with all those magnet links being inputted, how is the dev team going to protect the blockchain from spam, fake movies, virus infected torrents, etc.? i understand that there will be a small? fee in the future for uploading links, but how will you moderate the existing db?

[MAGNETZ]

   

Magnetz is a new cryptocurrency which aims to use the blockchain as the biggest torrent repository in the world, taking over website likes kickasstorrents, piratebay and monova.

2-3/01/15 - Blockchain torrent search engine (alpha version) is released, dev team starts adding magnet links in the blockchain

Good question! Magnet links will be attached to transactions and they will stay written in the blockchain forever, when the open source search engine is out the dev team will be adding the existing torrents to the blockchain (+-4M torrents) and we will have a torrent-adding bot to add the latest torrents to the blockchain. Users can also add their own magnet links to the blockchain. This prevents the global torrent database from being taken down.

so, with all those magnet links being inputted, how is the dev team going to protect the blockchain from spam, fake movies, virus infected torrents, etc.? i understand that there will be a small? fee in the future for uploading links, but how will you moderate the existing db?

Hey, take a look at this answer form a previous post.

hey, I usually hang around ccex and created this account just to say ill be investing some btc!

When is the launch happening?
what should I expect to be ready at launch? and when will i be able to add torrents to the blockchain? how will you censor child porn and stuff like that?

Now that is a good question!
Users won't be able to straight add magnets link to the blockchain, we will have a manual filter (semi-manual in the future) to censor all the illegal entries.
At launch we are delivering a wallet that is ready to search for the magnet links in the blockchain (keep in mind that magnet links will only start being added 1-2 weeks after the launch).
There's a launch countdown on top of the OP.

[MAGNETZ]

Hey everyone, we need to postbone due to some problems with the premine. We will be launching in 2-3 hours.

[MAGNETZ]

Language abuse will not be permitted. We will moderate any type of verbal abuse.

[RJX]

Language abuse will not be permitted. We will moderate any type of verbal abuse.

dagnabbit!