Quote from: blockonomy on December 15, 2017, 11:36:39 AM

Quote from: Beny9313 on December 15, 2017, 08:43:07 AM

Quote from: Beny9313 on December 14, 2017, 03:03:35 PM

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 Wink