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

[MAGNETZ]

ICO now available on C-Cex

https://i.imgur.com/Q8glJSP.png
Website

Launching 26 December 2014
Follow us on Twitter or join our IRC chat!

Freedom, the blockchain way.

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.

I would have hoped that the internet community at this time would have replaced [the Pirate Bay] with something new and more innovative instead of stagnating in some kind of passive mode where progress is hard to see.

-Peter Sunde (co-funder of TPB) talking about the last Pirate Bay server raids by the Swedish Police.

Specifications

• Algorithm: x13
• Block generation: 1 minute
• Difficulty retargets: DGW
• Reward starts at approx. 6.66 coins per block
• Block reward: 25 until block 20000 (2 weeks), 1 after block 20000
  
• Total supply: 8 million coins (first 2 weeks) +  525,000 every year

ICO Details

• Size: 55 BTC
• Coins distributed: 7,5M
• Price per coin: 733 satoshis
• Ending time: 31st December 20:00 GMT+0 Countdown
• Note 1: A BTC buy wall will be placed @ 733 satoshi 3 days after the ICO ends, the size of this buy wall will be equal to the amount if btc raised during the ICO - coins spent by the team. The dev team will be taking it down as funds are required. (fixed)
• Note 2: Unsold ICO coins will be destroyed.

ICO Funds

• Pay for the blockchain torrent search engine development and maintenance (this is the key to the success of the project).
• Marketing and promotion funds.
• Hire a community manager.

Wallets
Windows
Mac

Source code

Exchanges
C-Cex


Pools

Magnet.suprnova.cc

MGNT.HASHLINK.EU

coinking.io

http://aikapool.com/mgt

http://mgt.miner.blue

http://www.backup-pool.com/

http://aikapool.com/mgt



"What is Magnetz? - Meet Joe."


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

https://i.imgur.com/mtI06Tb.png

More details coming soon, pools are welcomed to join.

https://i.imgur.com/8GtsAvg.png

[TheInfidel]

C-cex ICO 

[NoobKidOnTheBlock]

C-cex ICO 

When does POW start after the ICO? and if so how long after the ICO??

[MAGNETZ]

C-cex ICO  

When does POW start after the ICO? and if so how long after the ICO??

PoW will start at the same time as the ICO (6 days from today).

[Built]

Seems interesting how will the torrents be used?

[MAGNETZ]

Seems interesting how will the torrents be used?

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.

We have a video coming out that might answer some of the f.a.q.

[CoinBreader]

7,3k sat per coin is too much...

[NoobKidOnTheBlock]

C-cex ICO  

When does POW start after the ICO? and if so how long after the ICO??

PoW will start at the same time as the ICO (6 days from today).

Thanks for the quick response to my question I will probably partake in this party

[MAGNETZ]

Suprnova added to the list of pools!

[MAGNETZ]

"What is Magnetz? - Meet Joe."

Coming Soon.


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

[amacar]

I must say, this is some innovative concept, but when I see ICO I can't help myself not to think about scam, premine (not saying that it is)...
Hope that this time will be different than other fail coins.

[MAGNETZ]

I must say, this is some innovative concept, but when I see ICO I can help myself not to think about scam, premine (not saying that it is)...
Hope that this time will be different than other fail coins.

Thank you for your interest, we will try to be as transparent as possible and ICO funds will be available @ ICO price for investors who want out.

____

As requested via pm we added a countdown to the top of the OP.

[zrunfeng]

Interesting! And other information  like a wihtepaper? and how can i take part in the ico?

[MAGNETZ]

Interesting! And other information  like a wihtepaper? and how can i take part in the ico?

Whitepaper is coming on the 27th (see the roadmap on the bottom of the OP). We are also releasing an explanatory video (Meet Joe) to "pitch" the idea.

ICO will start on the 26th (coinciding with PoW start).

[sandpaper]

Can I ask you why this needs it's own specific coin? Couldn't something be built within the bitcoin network or at least on top of it?

How many coins are available in the ICO? 7.5 Million?

[tacee]

hey man,X11 algo is really a bad choice for it's raped by FPGA.

[MAGNETZ]

hey man,X11 algo is really a bad choice for it's raped by FPGA.

We are using x13.

Can I ask you why this needs it's own specific coin? Couldn't something be built within the bitcoin network or at least on top of it?

How many coins are available in the ICO? 7.5 Million?

Theoretically something like this could be built on top of the bitcoin blockchain but the idea is to implement the magnet links directly into the blocks. Think about the magnet links and the information that comes along with them (torrent title and date) as the information about a transaction, to insert this type of info directly into a block using bitcoin's blockchain we would need to fork it and have people using it instead of the actual one, and that's not a feasible option for a small team like ours.  

There will be 7.5 Million distributed through the ICO.

EDIT:

To Magnetz Developer, your project is almost a direct clone from vTorrent, (https://bitcointalk.org/index.php?topic=889481)

vTorrent Project is not in anyway related to Magnetz and I would hope people will keep out from another possible ICO/IPO SCAM.

Regards

Hey!
No need to come here and start bashing other people's projects. We actually read your thread before announcing Magnetz and 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.
So we don't see where the "clone" part is, we are competitors and this competition might even be the best for both projects, we will want to stay ahead of you and you will also keep an eye open for us.

[vtorrent]

To Magnetz Developer, your project is almost a direct clone from vTorrent, (https://bitcointalk.org/index.php?topic=889481)

vTorrent Project is not in anyway related to Magnetz and I would hope people will keep out from another possible ICO/IPO SCAM.

Regards

Hey!
No need to come here and start bashing other people's projects. We actually read your thread before announcing Magnetz and 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.
So we don't see where the "clone" part is, we are competitors and this competition might even be the best for both projects, we will want to stay ahead of you and you will also keep an eye open for us.

Can you please point out some of the key different of your project from vTorrent? I don't mind having competitors and I am looking forward to see how your project will turns out after ICO.

I still don't understand your reason for wanting to raised 55 BTC even before having 'torrent metadata in the blockchain' already implemented, especially since as you replied that it would be only 2 weeks away from now.

And my main reason for posting in your thread is just to clarify that vTorrent is not in anyway related to Magnetz as there are users questioning me about relation of two projects. vTorrent is and will always be pure mining based crypto-currency and there will be no ICO/IPO with vTorrent.

Regards

[NoobKidOnTheBlock]

To Magnetz Developer, your project is almost a direct clone from vTorrent, (https://bitcointalk.org/index.php?topic=889481)

vTorrent Project is not in anyway related to Magnetz and I would hope people will keep out from another possible ICO/IPO SCAM.

Regards

Hey!
No need to come here and start bashing other people's projects. We actually read your thread before announcing Magnetz and 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.
So we don't see where the "clone" part is, we are competitors and this competition might even be the best for both projects, we will want to stay ahead of you and you will also keep an eye open for us.

Can you please point out some of the key different of your project from vTorrent? I don't mind having competitors and I am looking forward to see how your project will turns out after ICO.

I still don't understand your reason for wanting to raised 55 BTC even before having 'torrent metadata in the blockchain' already implemented, especially since as you replied that it would be only 2 weeks away from now.

And my main reason for posting in your thread is just to clarify that vTorrent is not in anyway related to Magnetz as there are users questioning me about relation of two projects. vTorrent is and will always be pure mining based crypto-currency and there will be no ICO/IPO with vTorrent.

Regards

Just worry about vTorent bro your coin will surpass these other imitation coins and copycats

[franckuestein]

Hi @MAGNETZ devs  
Can you please explain us why the ICO is from about 55BTC? Where's going to go that investment? Just to pay devs work or to innovate and work in the community?

IMAO 55BTC for development purposes it's too much, so could be interesting to know where or how you're going to use that 55BTC (or the ones that you earn with the ICO) to know if that's a real and useful project.

I don't want to see another scam-coin, but I like your idea! so more details can help investors to decide if it's good to invest or not, you know  
Thanks!