Bitcoin Forum

Anyone using this mining pool?  do they pay honestly?

http://megacoin.miningpool.co/

registration is closed

I also noticed that :(

reigstration closed because pool was reaching the 51% mark

I have been mining there all day with coins building up. No matter what I do it refuses to send a payout to my wallet. I sent an email to support with no response. I am getting a little worried. It is probably time to switch pools. Anyone else having similar issues?

Sorry for the delay - I am looking into now. It seems payment is failing for some of the most recent accounts. Usually this is caused by an invalid address being entered into someones account.

... ....

 It only creditied  68 coins to my account for the last 9 hours at 2400 kh/s. The account is not new and has mined many thousands here before.

I tried this pool out for kicks yesterday, ran three of my rigs between minimum of 4gh/s to 6.5gh/s for a total of 18hrs and ive got nowhere near 500 megacoins let alone i should be looking at around 2500-3000 megacoins a day when you do the math, i was averaging 4-5.5 megacoins per block. When you're finding blocks every 3 minutes im no albert einstein but id cut my left testie off if theres not something wrong with this mining pools calculations.
BE WARNED GUYS SOMETHING SEEMS WRONG HERE.
Ill keep everyone posted on how the payout goes later in the day when the rest of my measly 21K shares get processed.

My account is not new and I received much less coins than expected.  ??? ??? ???

Yep the op is definitely pocketing a huge wad of all the solved blocks. I lost money mining with this pool. Had I of solo mined instead I would have 4 times the amount I got

name the thread then to inform people not to get raped there.

thanks i am now going to get my miners out of there and tell everyone else to watch their coins with this place too.

OP why not rename this thread to megacoin.miningpool  is scamming people out of coins.

I have not got any response for pool owner after I sent message to him.

http://mec.scryptmining.com has been up and running successfully for quite some time.  We are currently small, but happy to find more miners to hop on board. Payouts are never a problem :)

Hmm, the reason for searching this topic was about the same suspicious thoughts about this pool. Almost 50% of my earnings are down the drain. Orphan blogs could be a reason, but not enough historical block data on the site.  ::)

I assure you we are not trying to scam anyone!

We did have some problems with blocks not paying out properly for about a 24-48 hour period.

We have a custom catcher system in place that catches unpaid blocks and distributes them amongst miners.

The way the catcher system works is every 5 minutes we scan through the last 400 blocks and see if any blocks were solved by the pool and if they were if they have already been paid out or not. If they were missed by mmCFE the catcher script looks at each users total shares submitted and then deducts the last total count we have recorded from the last run of the catcher script. The resulting shares for each user are then added up and the total unpaid block count for that run of the catcher script is divided between the outstanding shares. The problem that is becoming apparent with this system, is that if you mine for say 12 hours and the pool mmCFE misses paying out on some blocks then you stop mining the missing blocks are distributed amongst those who are still mining... When I built the catcher script it was designed to run once every 24 hours, however in an effort to speed up missed blocks a few days ago we moved it to run every 5 minutes. On average it works out well, but I admit it is far from perfect and I am in the process of re-designing the whole back end of mmCFE to avoid these problems altogether.

If you mine on the pool it may take a while for the system to ramp up to your full share with pplns and missed blocks - after the first 24 hours you should see the coins per day estimates being reached. I have been mining on the pool for a few days to test out whats going on and my payout over the last 24 hours was estimated yesterday at about 350 MEC per day, on completion of the 24 hour period the daily estimate stood at 307 MEC / Day - At the end of the 24 hour period I had received 302 MEC. Yes, a little under 350 estimated the day before, but pretty damn close to the 300 as estimated today. Don't forget at difficulty goes up your estimates will go down. The payouts for the 24 hour period before that were not running smoothly and I apologise for that - missed shares were badly distributed, especially as mentioned above to miners who stopped mining on the pool  :(.

At the end of the day it is still currently, for the most part of the day, the largest Megacoin pool and often has at least 50% of the network hashing power (only 33% currently - looks like a multipool is hitting Megacoin at the moment) - we have some pretty big miners there and of the ones I have heard from their payouts are, aside from the problems a couple of days ago, consistently on par with (or at worst slightly below) with what they should be getting and they have no problem with the pool.

Well, I don't negate what you write above but the fact is that I mined on your pool for couple days with 700-750kh/s and usually got ~100 MEC per day which is waaaay too low within that what stats says. I'm not trying different pool and within ~16h I mined ~150 MEC with exactly same hashrate so definitely sth is wrong on your pool. I don't say that you're cheating but the problem definitely exists.

Updated my first post on here, as to not scare people away.

I used the pool for days afterwards and it was fine. It has hiccups from time to time but seems to work itself out over time.

So this pool:

 A: often does not pay blocks mined.

and

 B: in recognition of point A, extra software was written instead of fixing A, that will sometimes pay out the funds from blocks that werent paid, but has no idea who to pay and so gives away earned coins to people who did not mine them just because they happen to be on at the moment.

 Fix A and you wont need B.      other pools dont just doze off and not pay people.

 Under this system anyone who notices they arent getting paid so they stop mining here, winds up not getting paid and their coins given away to others if the backup catching software even notices at all.

IT IS EXTREMELY FOOLISH TO MINE HERE UNDER THE CURRENT BROKEN SYSTEM

Sorry but 460 megacoins when the difficulty was 10, finding blocks every 3minutes maximum and mining with 6000kh/s for 18hrs straight is a complete and total scam. That's 6 times under what I should have received. Since your pool corrected itself after 48hrs did it find my coins and credit my account with them? I don't think so. I can't believe people are still mining on this pool.

The payouts are ok now for almost 36 hours.  :)

I was mining this pool for a while... Payouts seemed about right, but always a little lower than the Calculator.. I chalked that up to other pools finding blocks.

However, lookes like this pool is switched off for a while... Im heading to http://mega.minepool.net/

How come without any announcement or news whatsoever the stratum is switched off suddenly?
To make matters worse, my miners keep mining while i have no idea where the hashrate is going to, cause it's not credited whatsoever??!!
 
I have been mining in this pool for a while, yes the pplns warmup somehow took longer that other  pools, 12 hours+ but after that they payout is normal. I've no problem with that.

But to disable the the stratum suddenly, now the software will keep mining like usual with none credited towards our account, this will CERTAINLY fools a lot of miners that kept faith with your pools.

Very dissapointed with this pool right now.

My apologies for not giving some notice.

I turned off stratum in response to ongoing accusations of the pool not paying out properly.

I have started to write new pool software from the ground up. I thought it would just be best to turn all mining off until the new system is ready.
 

The megacoin stratum instance has been turned off on that server - so I have no idea why your miner is still hashing - are you sure you don't have a fallback pool set?

Hey ethought,

Yep, it turns out a few of my miners still has some old fallback pool set i forgot and it so happens that it was the one i'm monitoring lol
Anyway, any ETA on your pool being up again? Would like to see the warm-up being faster. 15 hours+ in order to get normal rate is a turn off for a lot of people right now.

Also, does anyone know where that big hash on the network came from? For example, right now network hash is around 414 mh/s. From every pool listed on the main MEC thread, the hashrate maybe only around 70 mh. 100 mh at most. So where do this 300 mh/s coming from? Multipool currently mining other currency, so that's not them. Surely this 300 mh/s does not come from solo mining, or is it?
Anyone know any link that shows Pool rate distribution charts or something?

Thanks.

At this stage no ETA - I expect it will take me a week or two at least. I am writing a new backend and frontend, so there is plenty of work to be done.

I will be moving away from pplns to a pps system - so there will be no warm up time - you will get paid for exactly the amount of shares you submit. Pplns was a good idea for slower coins like Bitcoin but I think it is essentially of no benefit to the faster generation of coins we are seeing today (who wants to pool hop every 30 seconds?) - and I find myself constantly having to explain to new miners why full payout is not reached instantly.

I would love a PPS pool for MEC !  ;D
In fact besides LTC and FTC, i think there's no other currency that has PPS pool right now. If you can make Megacoin PPS pool that will be awesome and i'll believe will bring a lot of hashes to the pool :)

Development is coming along nicely - I had a marathon session last night - another marathon starts now.

Multiple currencies / pools will run through the single website.

Most of the back end system has been done just need to finish off the PPS payment system. Then complete the website. Then test, test and test again.  :)

Here is a screen shot of the very early front end progress - nothing much to see but just to show work is being done:

http://i42.tinypic.com/2rp4ku0.jpg

Nice ;D

Can someone please explain this for me?

Here is approx 24 hours of use with almost 10,000KH of power...

Results of 24 hours of mining is only 11,165 starcoins, WTF??

Transferred 11,165 to cryptsy and it only earns me 0.13btc

I'm totally pissed




https://i.imgur.com/OuR1n4I.jpg

Sorry to hear you are not happy with the pools performance.

I just checked your stats (as you are still mining on the pool) and found the following estimate:

sikman    7,843 KH/s    10,216.87 STR / 24 Hours

So your estimated daily earnings right now would be around 12500 STR / 24 hours for 10000 KH/s. Given orphans that have not been recorded (see below) I think what you received is pretty much as expected.

I think 3 issues have contributed to the problem.

1 - The estimates swings quite dramatically depending on the difficulty. So If you take a sample at the lowest difficulty the estimate will be much higher than the average.

2 - I made a change to the way hashrates are processed yesterday which caused estimate averages to stop updating for about 8 hours. So if your estimates had gone down in the last 8 hours the average did not adjust accordingly.

3 - I changed the way orphans were detected yesterday, which has not worked as expected and almost no orphans are showing up. See below for the list of recent orphans vs successful generates. If orphans had been reporting as they should have you 'Adjusted Estimate' would have been much closer to the mark I think.

Anyway, sorry for the disappointment.
 

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thanks for the quick reply, my concern was the estimate was way way off. If I knew I would only get around 11-12,000 coins over 24 hours I wouldn't off mined it, but when i saw it estimated upwards of 40,000 I was thrilled. Your pool is good and have no other issues..