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Megcoin - Get Megged [MEG]

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

 (http://megcoin.com)
Specifications:

• PoW Algo: Scrypt-8-4 (scrypt-n-r)
• Premine: 0%
• Total: infinite (20K final block reward)
• Block time: one minute
• Reward halved: every 200,000 blocks
• Rewards mature: 120 blocks (~2 hours)
• Difficulty adjustment: Every block, digishield
• Wallet forked from Dogecoin 1.7/Bitcoin 0.9

Reward schedule:

• 1–200,000: 500K Megcoin
• 200,001–400,000: 250K Megcoin
• 400,001–600,000: 125K Megcoin
• 600,001–800,000: 62500 Megcoin
• 800,001–1,000,000: 31,250 Megcoin
• 1,000,000+: 20,000 Megcoin

Scrypt-N-R

Megcoin's algorithm uses a new algorithm I've dubbed scrypt-N-R. Typically, `scrypt` means scrypt with N=1024, R=1, P=1. This algorithm changes R for more granular tuning of memory usage. Currently, there is only the wallet miner and cpuminer(minerd) ported to the new algorithm. The memory usage of scrypt-8-4 is only 4Kbytes, compared to normal scrypt where it is 128Kbytes. This means that GPUs and FPGAs will have a large advantage once they are ported to the algorithm. However, ASICs are not practical to make for Megcoin because of the short "primary mining" period of about 1.5 years. If ASICs were produced for the algorithm, it would be near the end of big rewards and when mining is needed more for network stability than for coin generation.

Digishield

This uses the Digishield difficulty algorithm which has been proven stable by Dogecoin. Although multipools shouldn't be a worry with the unique algorithm parameters, digishield has been proven to handle large hashrate changes very well.

Forked from Dogecoin 1.7/Bitcoin 0.9

Because it was forked from Dogecoin 1.7, which is forked from Bitcoin 0.9, Megcoin's wallet includes the many advancements that Bitcoin 0.9 has:

• A faster graphical user interface (supporting Qt5 as well)
• Fixes for transaction malleability
• Services broken up into megcoind, megcoin-cli, and megcoin-qt
• Many more features which can be seen in the bitcoin 0.9 changelog (https://bitcoin.org/bin/0.9.0/README.txt)

Downloads

• windows (32bit) (http://earlz.net/static/megcoin1.0win32.zip)
• Mac OSX wallet coming soon

The source code is available on github (https://github.com/Megcoin/megcoin) for compiling on Linux and elsewhere

Resources

• reddit (http://www.reddit.com/r/megcoin)
• Join the IRC channel #megcoin at freenode. I have a tipping bot and not afraid to use it :)
• website (http://megcoin.com)

Block explorers

megchain.earlz.net:8080 (http://megchain.earlz.net:8080)
cryptexplorer (http://cryptexplorer.com/chain/Megcoin)

Mining

• cpuminer (https://github.com/megcoin/megcpuminer) for mining with pools (stratum support) 64bit windows build (http://earlz.net/static/megcpuminer_win32.zip)
• The wallet supports mining by using `setgenerate true -1`

This should be very easily (and effeciently) mined by GPUs and even FPGAs due to it's low 4Kbyte memory requirement. I do not have the knowledge to port a GPU miner though, so this is why I've only ported cpuminer.

Pools

Due to some weird filtering by [Suspicious link removed]ee http://megcoin.com for a full list of pools

• Rapidhash (http://coins.rapidhash.net)

[Suspicious link removed][/url] PROP, 1% fee[/li]
[/list]

I'm running a semi-private pool (http://megpool.earlz.net:8080) (because I don't have the expertise to run a pool reliably) that you can join into if you want. However, right now I recommend setting up p2pools or solomining because like I said, I am not an expert pool runner and I'd hate to lose people's coins

Pools will be listed here as they are made.

Nodes

I've tried to ensure there are plenty of servers for the initial rush of wallet syncs including nodes in the US, Europe, and Japan. However if you have a reliable node, report it to me and I'll add it to this list in case those servers get overloaded or are later scaled down for cost reasons. No addnode arguments should be required right now.

Exchanges

https://www.bittrex.com/Market/?MarketName=BTC-MEG

Bounties

• AMD GPU miner 130M MEG!. Bounty wallet is MSGoyrBfXad1Pv8Jqc3t74a2yBsDoDbE1G (http://cryptexplorer.com/address/MSGoyrBfXad1Pv8Jqc3t74a2yBsDoDbE1G)
• Nvidia GPU miner 3M MEG
• Mining pool 2M MEG claimed

Testnet

Also, if you would like to test services or mining with Megcoin, I have testnet nodes running so syncing should be trivial

Shut up Meg!

This looks nice!

How many coins?

Infinite. After about 1.5 years, block rewards drop to 20K and stay there

Client closes just after opening it... do you know what could it be?

I'm using Windows 7

I'm not sure. I built and tested it on Windows 7 and all dependencies should be self-contained. Is anything interesting in debug.log?

Seems like the heavy cavalry just arrived :(
Or somebody figured out how to GPU mine.

Just PMed you the debug.log

Nethashrate still growing, but diff decreased a bit.

Yea, I think the networkhashps field is wrong right now because not many blocks have been mined. it should be closer to normal with more blocks being mined

I've attached some bounties now that I've mined some confirmed funds :)

I'm finding blocks from time to time with my 8 core CPU.
So it's not too late to hop in.

How much hashes are you guys getting?
My FX 8350 at 4Ghz (stock): "hashespersec" : 113074

lol found 1 block on a q6600, how to set it so that wallet only mines on say 7 cores

setgenerate true -7 does not work

use setgenerate true 7 (not negative)

For most CPUs I see around 30-40khash/s per core.

Why the decision to not limit the supply?

looks interesting :)

Primarily so that the big burst of inflation by coin generation can be overcame as quickly as possible, but without having a doomsday where miners stop getting rewards (and thus stop mining).

What the heck with the typo in github scrypt-sse2.cpp? :D

The code could be cleaned some :). The miner in the wallet actually does use SSE2 though if compiled for 64bit x86 (which provides a substantial speed up)

Nice coin!
When will be GPUminer?

I'll try to mine this! I'm new to solo mining though, so I don't know.. Didn't quite understand your pool o.O

mining! :D

But with an infinite supply the prices will be extremely low, so the miners won't mine anyway..

A new coin, have a look and support you!

Not necessarily. Bitcoin will have major inflation of it's coin supply for years to come(until 2100 or so), and even though there will always be a small amount of coins added to Megcoin forever, the actual inflation rate is very low after the 2nd year. And I figure that this will be mostly balanced out anyway by coins that are lost or purposefully thrown away



Also, rapidhash.net (a popular dogecoin pool) added a megcoin pool using NOMP :) http://coins.rapidhash.net/

The command to control how many cores to mine doesn't seem to work, it just uses all cores. ie. "setgenerate true 3" will still do all cores in a quad core cpu.

This reminds me of Scrypt-OG with lower memory requirement, but this in theory seems to be much less than Scrypt-OG.

what's the commandline with cpuminer ?
with cpuminer -a scrypt -o xxxxxxx -u xxxxx -p xxx -t x i only get rejected.

Interesting.

you must use the special fork of cpuminer I made, https://github.com/megcoin/megcpuminer


Yes it's quite similar, but with a unique twist that a few special memory optimizations are wiped out by the R parameter of scrypt not being 1


Also, for all the Windows users out there, i finally compiled megcpuminer for Windows! Get the 64bit build at http://earlz.net/static/megcpuminer_win32.zip

is it too hard to solo now? how doews the nomp pool payout work and where do you see the stats?

at the moment, you could probably get a block or two solo mining in the next few hours. NOMP unfortunately is still very early pool software and doesn't yet have a way of checking your balance. I believe the way the rapidhash pool is setup is it will pay you whenever you collect any amount of coins that become confirmed(so after 120 blocks) and as far as I can tell, there are no fees yet.

thanks, they came in after 2 hrs?

also i wonder if someone has a gpu miner already


Pool            Algo      Workers    Valid Shares    Invalid Shares    Total Blocks    Pending    Confirmed    Orphaned    Hashrate
Megcoin    scrypt    8    13134              99       128    61     65 0                                                               5.19 MH

i don't think. I have myself ~2MHs on NMP pool out of 5, with cpu (~10xeon + 1 3930K@4.8ghz)

first payout from the pool :)

Only found one block during the night. :(

WTS 100 millions of Megcoin for 0.2 btc for all.

24 hour passed and I found 22 blocks with core i7 950
I like this coin :)

I've updated the bounty for a GPU miner to 10M for the AMD miner, and 3M for the Nvidia miner. and 2M for a pool to be setup (other than rapidhash)

Megcoin is on CryptExplorer (http://CryptExplorer.com) now!

MEG Block Explorer:
http://cryptexplorer.com/chain/Megcoin (http://cryptexplorer.com/chain/Megcoin)

Tips appreciated!
MEG: MJFkf2ReURj8TNA5FJeKdPXXSDYh3yYJnS

Thanks! Sent you a tip :)

really interesting approach  :P

Gpu how to set up, use what software

Is there a module, establish mineral pools

GPU miner is yet to come


btw, what is the point of having a block mature 120 blocks?

Gpu miners have software, the currency is on fire

unlikely
nethashrate is way to low

I've set up a pool for Megcoin.
Prop payout
1% Fee

meg.poolz.ws (http://meg.poolz.ws)

The point of that is so that if there is a fork or some such, pools have 2 hours to coordinate and fix problems before payouts will be sent out. It's just a good thing to have done now, for future forks rather than to wait til later to implement. It is a bit inconvenient though

What? As far as I can tell, no GPU miners have been made yet. However, I have a 10M MEG bounty to encourage anyone who ports a GPU miner to not keep it private


Give me an address and I'll send you the bounty :)

alright, so as soon as the most (or many) coins are distributed and this thing is big and healthy (in terms of network hashrate) we will see a "normal" confirmation time?
maybe should be mentioned in the OP

No, it will always be 2 hours. This follows the lead of most other established coins. In case of emergency (for any reason), allow pools 2 hours to figure their crap out before paying people. It's a safety feature and 2 hours isn't very long

I can't post this link for some reason :/

I added your pool to the website, but due to [Suspicious link removed] filters I can't post it on the first ANN post. It sucks :/

Anyway, bounty sent :)

WTS 2 MILLION MEG for 0.02 BTC

still GPU miner? Figured phm would of had it added to their miner at the very least by now

I think they too busy with the cpu only coin of theirs. My guess is that they will get the coin with 16 hash working with GPU first > then try to catch up with NVidia club to get 3x speed increase for GRS once it is released.

WTS Megcoin. Few millions.. propose your price.

any news on gpu-mining software?

None yet. I've sent a PM to the author of sph-sgminer to see if he can be bribed to write support for it, but he hasn't replied yet. I might end up sucking it up and attempting to write a (probably really unoptimized) basic kernel for it, if I can conquer OpenCL

Also, I've submitted to Mintpal and should show up on their voting page soon and I've submitted to bittrex. Bittrex sounds promising, but they have a large queue of coins to go through, so not sure when I'll have a decision from them

lol figures...

every time there is even a hint of a coin being cpu only someone ports a GPU miner in a blink of an eye...

now we have a coin that actually needs one and there is not one to be found.

Any chance on Poloniex?

Let me know what I can do to help get this to some exchanges. 

NO PREMINE
NEW ALGO
CPU MINING
GPU TO COME...

Ok, ok, I stay here!


The memory usage of scrypt-8-4 is only 4Kbytes, compared to normal scrypt where it is 128Kbytes.   ;D

cpuminer download win7 32bit compiled?

Did you try the one in the OP? I know the link title says x64 but the file name it links to says win32. Might be worth a shot to try it?

I saw a friend but not not work.
I tested the win32 here was not

Try building from source? It's probably not the easiest thing in the world, but doable all the same

It's really easy if you build locally with cygwin, but there are a lot of restrictions on distributing applications built with cygwin.

I compiled cpuminer on Windows for 64bit using mingw because it'll be quite slow on a processor that isn't 64bit, if not unusable. I didn't bother going through the steps again to compile for 32bit because mining on older computers that are 32bit will be pretty close to useless. I assume that the majority of people with 64bit processors are using a 64bit OS

You must be using a 64bit version of windows and a 64bit processor to use the cpuminer I compiled


Soon there will be a vote on mintpal and you can vote for it :)

Also, I submitted to prelude.io. I am pretty doubtful that they will accept such a new coin, but mohland seemed to think I had a chance, so maybe we'll start off on a big exchange which would be really awesome

Hows about a qt.pro so I can build qt on *nix? (cause my n00b ass does not know how to build without it)

[edit] and what about poloneix?

The instructions are in the README. To build with qt, just do ./autogen.sh and then ./configure --with-gui="qt5"  (or qt4) and then make as normal. The graphical wallet will be ./src/qt/megcoin-qt

I'll email poloneix now about getting listed

no kidding?

Well now I feel like a dummy.

Thank you for teaching me something today sir.

[edit] Interesting, required libprotobuf to build the qt. Curious, whats the benefit of using this?

I'm not sure of the details, but it was a new requirement of bitcoin 0.9.

ah that explains the dependencies. Again, should of read the readme. lol.

Push for exchange!

No gpu mining software

hi everyone,
i'm having problems with the wallet app.

while syncing, it appears to be stuck at "9 hours behind".
i did wait for it to finish over night, which did ofc not happen.
client is getting 6 nodes...internet connection, harddrive (with plenty of free space) and CPU are working just fine.
i also installed the wallet application on my main computer (which is a lot slower than the mining machine i'm having trouble on) which synced completely in less than 2 minutes. i noticed the number of synced blocks is the same on both machines, which to me means that even the "9h behind" computer is actually synced. it still does not show a wallet balance since it's still busy "syncing" obviously :(

i also tried "reinstalling" the wallet (re-downloaded it, unzipped it again, just to make sure there wasn't an error in that process) and changing the blockchain folder (also deleted the latter one to force a re-sync)

the mining machine uses a clean win7 x64 pro install with all drivers being up to date.

any help is appreciated since i'm out of ideas now ;)

It sounds like the wallet that says 9 hours behind has a clock that is wrong.

i did also make sure the clock is right, it is the same time as on the main machine.
heck, i even changed the date/time format in windows to "English (US)" from "German (Germany)" because i suspected that to cause error.

/EDIT: windows was somehow screwing with my region settings, so i manually forced syncing NTP time from time.windows.com...now my computer has some US timezone, but at least the wallet is working. turns out my 4770K didnt find a single block over night (or it didnt mine at all thanks to not being synced?) :(

thanks for your quick reply tho!

When GPU? and marketing!

I've been reaching out to people to port a GPU miner, but no takers yet. And there is a new logo coming that will be much improved over the current one, along with a bit of a clearer direction on marketing. This should come in a couple days. In the mean time I'm attempting to learn OpenCL for porting a GPU miner myself, but it's terribly difficult. And I'm submitting to lots of exchanges.

I will match your bounty of 10M MEG for the AMD GPU miner

Thank you. I've updated this ANN and will later update the rest of the pages with this bounty to say 20M

Can we get a bounty on a new logo that isn't crap I will put up 200k for that to start

There is one already being worked on. We'll also be moving away from the pink hat design for legal reasons, but don't worry, it'll still be a fun and noteworthy design :)

Can it please just look nice... don't make it fun make it professional nobody wants another crap coin for the lulz

it would be good if you add a bounty for block explorer

check OP

megchain.earlz.net:8080
http://cryptexplorer.com/chain/Megcoin

I suggest that you add proof of stake to help secure the network and provide an incentive for people who don't dump their coins plus it helps to effectively lower inflation as the number of blocks generated will be increased but the total number of coins before each halving is decreased.
Also I suggest burning transaction fees and making tx fees be a min of 1 coin if you do all of this then you will have a relatively good shot at a reasonable coin.

Yea this was in my mind at the time of launch. However, I wanted to see the reactions to the coin and such and didn't want to delay it's launch any further than I had.

If PoS was implemented, it would probably be after block 800,000 or 1,000,000, so it would be fairly far future anyway. My reasoning is so that anyone can join in with a GPU and get some Megcoin. I don't want to force people to go to exchanges to get some of the coin. However, when the payout streak is over for mining, PoS sounds like a good plan to keep the network secure.


It's being made by an artist much more talented than previously and will look professional. However, it'll be fun, because that's the direction I'm going with Megcoin. A joke coin with serious innovation.

I don't think you understand what "secure the network" means, remember that if gpu miner comes out it will give a HUGE advantage to people with gpu's over cpu's so much so that it could be VERY easy for some large miner to fork your entire network let alone do double spend attacks. You are  vastly underestimating how much hardware is in the hands of a few people, remember Auroracoin yeah that got forked, Dogecoin got forked your coin will be even MORE at risk due to its easy of implementation if anyone wants to fork it since you have no measures in place to counteract this kind of attack. Proof of stake is one of the few ways to due this effectively due to every person's power to produce a block which hinders if not completely removes the chance of many hash rate attacks. I mean just consider what could happen if a gpu miner gets created and used privately the advantage they would have would be immense and combined with even a small gpu farm your coin's fate would be in their hands.

There would be little point in doing a 51% attack at this point, especially with no exchanges being listed yet. This is why the bounty for a GPU miner to be released is so high. As soon as a GPU miner is released, sure it will overpower all the CPUs currently mining, but they will be replaced by honest miners using GPUs. Leaving the algorithm to target only CPUs also makes it susceptible to botnets, so a GPU miner is actually higher priority than getting onto an exchange at this point. But either would be nice.

Right now the coin is young and as such there is very little risk. Getting a GPU miner will be a huge step of maturity, not make us susceptible to 51% attacks. PoS mining will NOT happen for quite some time, if ever. It would require careful consideration as to the conditions of the network in say 6 months or so. This is why I'm currently sticking with just PoW. When to implement PoS is highly variable on network health in the relatively far future. The reason I'm so reluctant to do anything with PoS in this early stage is because it causes hoarding and makes distribution of wealth to new comers more difficult

I never suggested you leave the algo for cpu only I just suggested you make sure your coin doesn't get raped by gpu botnets by having a backup plan IE PoS which really is important for not only providing a long term investment but also for securing the network. How does PoS make hoarding any more of a problem? How does 2 or 3% per year encourage hoarding anymore so than what is happening currently? PoS isn't some mysterious force that only works on mature coins it works period. That is why PoS is superior, it speeds up confirmation times, raises security and reduces inflation. Hoarding is a natural part of ultra high inflation coins like the one you are currently running PoS just means that you can be sure that you aren't going to lose everything to a coordinated attack. Just think back to a while ago when many coins had "new algos" with no actual substance, very few of them survived or even got onto an exchange but if you look at the new wave of coins that are uber fast mining then pure PoS nearly all of them get onto an exchange and even the ones that simply have some form of PoS get onto an exchange and actually get attention because everyone has already learned that mining via pure pow is inherently flawed. Furthermore PoS gives investors some returns on their investment and potentially raises the value of the coin. Either way I hope this gets onto an exchange but 720,000,000 coins per day is kind of a lot of inflation just fyi.

thanks
i think i need a doctor for my eyes  ::)

I have increased the AMD GPU miner bounty to 40 million MEG total.

 :o :o :o


Awesome bounty.

Listen earlz all I am saying is that this coin has no community, no hype, no draw and no "innovation" other than a lower mem requirement all I am saying is that PoS would insure longevity and make this seem more legit rather than a simple clone with an algo change, PoS harnesses the ability to run a wallet as an effective way to generate blocks fairly and far more democratically than through PoW plus it is extremely hard to exploit unlike PoW. I know you think you know what you are doing by saying it is important to 'carefully consider the condition of the network' but that doesn't make any sense when PoS helps to make sure the network keeps working even if nobody is mining.

This coin only needs a GPU miner for now...

Exchange don't needed, only GPU miner! ;)

ok so hows about creating a public bounty wallet so I can up the GPU bounty to a 100 mil

I think that bounty must be in BTC

exchanges?

No exchanges yet  ;)

Good idea! The address is here: MSGoyrBfXad1Pv8Jqc3t74a2yBsDoDbE1G (http://cryptexplorer.com/address/MSGoyrBfXad1Pv8Jqc3t74a2yBsDoDbE1G)

this one looks interesting. It is always good to see no premine.

I just hope dev will work hard on this one.

Nobody already working for GPU miner?

Nobody will spend his time for nothing (MEG bounty)
2 ways to make GPU-miner:
1. Bounty must be in BTC
or
2.MEG must appear on exchanges, only after that somebody may start to work on creating GPU miner (if MEG price will be high ;))

Just about to give up mining this shit if we can't get some effort from the DEV's to GET THIS COIN ON AN EXCHANGE

There is a big rebranding and reannouncement coming tomorrow and I'm in favorable talks with bittrex about getting supported. Huge giveaway to get the word out, and an actual marketing strategy from here on out. You'd kick yourself for giving up now. And trust me, there is not a lack of effort. I got a team member now to actually help with marketing and such, so it's not just a 1 person coin anymore.

I'll be giving away 20M MEG out of my own pocket tomorrow. If you'd like to donate to the give away and help ensure a good distribution of wealth, please donate to MS24HMGmkYY53koyAn9z79uffXjeN8RHV1.

Thanks to very generous donations by Billotronic, the AMD GPU Miner bounty is now up to 130M and the giveaway amount is now up to 220M

Thank you billotronic for your generosity and ensuring that this rebranding and reannouncement go well :)

AMD GPU miner bounty is slowly getting more appealing...lol...I'm sure this is peaking someone's interest a bit.

But yea, you need to get this on exchange and also promote services/products for it to be seriously considered as a coin with a real future.

well there is tons o fun going on the freenode chan @ #megoin

the dev is putting in a honest days work have no fear, but in this climate of shitty coins it takes a TON of work to distinguish ones work.

I'm mining with CPU since the first day. But my CPU is not powerful :(

We got an exchange!

https://www.bittrex.com/Market/?MarketName=BTC-MEG

Be on the lookout for a 200M MEG giveaway later tonight along with the rebranding announcement!

very nice  ;)

I will match your bounty of 10M MEG for the AMD GPU miner

Please send it to the bounty address

Righteous....

good news... exchange, branding... i hope see in this coin a fresh air in crypto... still waiting  ;D for ati and nvidia gpu mining

Should tell them to put it on LTC market.

No exchanges yet