Topic: [ANN][MGN] | 🚀MAGNA COIN🚀 | MASTERNODES | ZEROCOIN | ATOMIC SWAPS [ANN] - page 29. (Read 23947 times)

MagnaCoinDev, which port?
rpcport=??

>>1. By the time masternodes are sold developers will only hold a pre-mine of just over 1%

So you own 100% of the coins and you setup the network so no POW happens and you stake 100% of all new coins and then you take 70% of all POS and POW from users. Since mater node get 70% and POS/POW miner only gets 30%. There is no possible way for you to burn your coins down to 1% since you are getting almost 80% all of new coins created.


>>2. Yes, we want to sell masternodes to get funds for bigger exchanges. Coinexchange.io is a 2BTC listing and Cryptopia is a 6BTC listing. That's not chump change.

Sure. Copy paste some code to create free coins to get BTC from users to promote your scam coin


>>3. We had to set up a few masternodes to ensure everything was working and to create network stability. It's standard procedure. Also, it is explicitly stated in the ANN that all rewards gained from these initial masternodes will be burnt once there are over 70 active nodes running on the chain.

Sure you setup master node so you can take 70% of all POS and POW rewards so that you control almost all of new coins created.


>>4. The chain had been running for just over 24 hours. Any rewards gained from this will be burnt as I keep repeating.

Yes you are keeping pretty much all rewards from the miners by taking 70% of their POW and 70% of their POS blocks just to burn them so you keep almost all of the coins.


>>5. Going back to point #3 again, the developers are not gaining anything because all MN rewards from the generated from the pre-mine are getting burnt.

Of course you are gaining something you are not doing all of this scam work for free. By setting up master node you are taking 70% of all POS and POW block. You will scam users to get paid. What you are doing is preventing user from geting your coins unless their are bought from your. Might as well call this a 90% premine ICO coin.

Since there is no buy support if someone did get a master node who would they be selling the master node rewards to since there is no buy support? Seems you did your best to keep all coins to yourself and you even posted that you setup the reward so it would turn off miners and make mining not profitable so you can create 100% of all new coins with POS.

Does anything I explain to you go through your skull? Most of the FUD there has been debunked many times already, but I will explain it all one more time for you.
1. By the time masternodes are sold developers will only hold a pre-mine of just over 1%
2. Yes, we want to sell masternodes to get funds for bigger exchanges. Coinexchange.io is a 2BTC listing and Cryptopia is a 6BTC listing. That's not chump change.
3. We had to set up a few masternodes to ensure everything was working and to create network stability. It's standard procedure. Also, it is explicitly stated in the ANN that all rewards gained from these initial masternodes will be burnt once there are over 70 active nodes running on the chain.
4. The chain had been running for just over 24 hours. Any rewards gained from this will be burnt as I keep repeating.
5. Going back to point #3 again, the developers are not gaining anything because all MN rewards from the generated from the pre-mine are getting burnt.

In addition to this , the whole point is that masternode rewards are luxurious. Buying at $160k market cap and running the nodes is a bargain when you consider the fact block rewards are tripled for the first 3 months.

Quoting the same comment over and over makes you sound like a broken record man.

Magna Coin is not an exorbitant ICO that seeks to exploit investors by selling at ridiculously high prices.The only reason that most of the pre-mine is being sold P2P is to raise funds for bigger exchanges such as Coinexchange.io and Cryptopia. The plan is to build a vibrant and loyal community by selling to people cheaply, ensuring early investors get a big return on investment. If you look at the majority of masternode coins, most have reached $500k market cap with ease.

This thread has got FUDDED hard so far, but most of it has been a result of miscommunication more than anything.

Why are you selling coins so cheap? This way you make it almost impossible for exchanges to sell for more than 1000 sats until you sell your bags. How convenient...
You could have made your premine less and make 1 coin 5-10k sats and everybody would have been happy. Or you could have made first 10 MN for 1k and then rise the price multiple times.

Magna Coin is officially trading on Coinmarkets. To make the P2P process easier, we have instead opted to raise funds via means of an exchange. Please note that Coinmarkets adds an extra decimal place, so 0.000010000 is actually equivalent to 1000 satoshis. We are still selling at the rate that was intended - 1000 satoshi per coin, which is around $160k market cap.

https://coinsmarkets.com/trade-BTC-MGN.htm

Do you even maths? A supply of at least 17 million would be required to sell that many.  Right now the circulating supply is only 2 million and only 1.7 million is getting sold as masternodes. Also, there are no wallet errors from what I can see.

i think the dev is a kid, lol..
1700MN want sell it all to 170btc? 
wallet error like a shit..
dev want make faster to get money, forget the wallet get many error 

this project is very interesting to discuss I had read a bit of this project and I was interested in the allocation this is very recommendation for the bounty hunter or the investors I am so sure that this will be a tranding topic for the future

What CLOWN make this sht? http://prntscr.com/he2t6q

Now live in coinsmarkets
https://coinsmarkets.com/api-379-MGN-BTC.png

Seconded, Thirded, and Fourthed(?)

Seriously dev. Shut this down and try again without failing to try and jump through loopholes so you can call this project something that it's not.

Please, can you take 3 minutes out of your day to read the ANN properly. You can mine POW if you want, but it will not be profitable. A tiny portion of the pre-mine is getting staked and this is not being done to get profits for developers, but to bring stability to the network.Any masternode and staking rewards gained from pre-mine will be burnt. Masternode rewards are ridiculously high right now, especially with the triple rewards kicking in the for the first 60 days. It is undoubtedly profitable to own a masternode and combine the fact it's getting sold at dirt cheap prices (sub $160k market cap) pre-exchange I really do feel like people are missing the point.

Dev, seriously, without jokes.

- Have a restart.
- Create a complete POS coin. (or with premined 1000 POW blocks)
- Change head of thread to [ANN][ICO][POS][MGN]MAGNA COIN MASTERNODES ZEROCOIN ATOMIC SWAPS
- For distribution (and net stability) you can make low supply airdrop (50 coin for paticipiant)

You will get many people wantes to buy you masternodes, seriously.

POW coin and fair start - not yours, unfortunately.

Here is an inter view with the dev.

He said lets make a POW/POS coin that can not be mined with POW because our POS gets all of the blocks.

 'Lets make another shit coin'

https://www.youtube.com/watch?v=cIasr2AiyZ0&t

HI dEV, Show me the whitepaper..

Now community can do NOTHING, except of buying your coins.

Stake? Which coins?

Mine? Public pool don't found blocks. Because of very high diff.


You can burn your mastenodes with their earning, yes (*All of the Developers initial masternodes, along with their earnings will get burned once there are 70 active nodes running.*)
But after appearing 70 active masternodes. How can people start them? Only buying... 7 BTC - good reward for burning 3 masternodes, yea.

False positives are perfectly normal for crypto wallets.

So basically you just added a PoW phase that doesn't actually provide miners with any legitimate rewards so you don't have to technically call it an ICO?