Official Beta Launch of our Site!

Developing something like the @magnetbank on HIVE creates a lot of choices. Should we do a token? Is there money to be made? Surely there is time and development costs, but we had to make a decision upfront if this was going to come with a token scheme or not.

And at least for now, we chose not. Other than your gracious support on these posts from @magnetbank, we have no monetization strategy around HIVE or the reward pool, although we do think that something like this could be a benefit to HIVE over time.

Today, we want to invite all HIVE users not only to try it out, but to express their opinions on what we are doing.

Check us out at PsyberSects.Com!

So we are all set up on the domain PsyberSects.Com, and one of the big first questions we get is - Is this related to PsyberX?

@PsyberSects is a DBA for a dev team that has built several things for @PsyberX related to Myria. It has also launched the MYRIANODE token. The domain was reserved by the INCOME Synergy Fund - but never used. To keep dev costs low, we decided to use a domain that we already had access to, and this seemed to us that it was the best one.

So no, @magnetbank has nothing to do with @psbyerX, except that we have reached out to the same INCOME Synergy Fund team to help us with some of the particular details, and this domain was one that @ecoinstant had available and seemed workable, at least in Beta.

How is this related to HIVE?

It used to be that you had to download a torrent file to get your computer to know where to look for a torrent. The technology has improved and now this can be done with links, no need to risk anything in a download. These links are just bits of information, and can easily be stored inside customjson data structures in the blocks of HIVE, just like @podping is doing for Podcasting 2.0.

We have identified a censorship resistant group of people known as the torrenting community that has worked really hard over the last 20 years against censorship, and we are bringing them into the HIVE community - and they don't even know it yet. It should be fun times in the weeks and years ahead.

We are working on many features, and one of them is that of shareable links. Take a look at this recent movie review to get a glimpse of how this might be used in the future on HIVE's social side - including possible synergy with existing communities and tribes.

By creating dynamic pages for each file hash, we have created two shareable links, one generated using the title and one generated using the hash.

Any HIVE user can add a torrent by clicking Add Magnet, and the interface will assist you in broadcasting the correct customjson. Make sure you pick your category correctly, while we are testing functions to recategorize magnets, we are not looking to do a bunch of janitorial work at this phase.

When we ask you to bug test below, miscategorizing files is not what we mean - just to make this clear.

Currently we are ready for more significant testing by a wider variety of users. If this sounds up your alley, besides giving us a vote and a reblog, consider submitting some magnet links to the HIVE chain through our webapp.

Click buttons, test functions, and generally 'try to break it' as the tester motto goes. This would be very helpful to us at this stage, so sharing this post to get it in front of more eyes is also quite helpful.

A new Adventure awaits!