[ANN] [MΣC] Megacoin.co.nz - Forum, Github, Website Now in 18 Languages

[darkproton]

Alienwalkerx.....that was awesome!!!!!

[1714875529]

1714875529

[1714875529]

1714875529

[rapta]

Thank you panda

[vtr99]

Alienwalkerx.....that was awesome!!!!!

Yes it was! Sums things up pretty well. 

[vtr99]

Thank you panda

Same here, big thanks from the MEC community!

[Mike18feb]

I'd say, despite the halving of the block reward, I seem to mine nearly the same amount of MΣC. Thanks to the difficulty adjustment "preventing" Multipool and co from flooding the coin with loads of difficulty for way too long, I guess. Or Kimoto's Gravity Well sucking the hit-and-run load to oblivion.

This is a HUGE improvement for the dedicated MΣC community. Chapeau!

[bholzer]

I'd say, despite the halving of the block reward, I seem to mine nearly the same amount of MΣC. Thanks to the difficulty adjustment "preventing" Multipool and co from flooding the coin with loads of difficulty for way too long, I guess. Or Kimoto's Gravity Well sucking the hit-and-run load to oblivion.

This is a HUGE improvement for the dedicated MΣC community. Chapeau!

Most of the multi-miners probably don't even notice...but with the new difficulty adjustment formula it almost completely defeats the purpose of having it in a multipool. Along with other dynamic coins like CGB and CAP, so much time is spent jumping around it isn't even worth the lost work. As soon as one of them gets hit, one of the others becomes more profitable within a few blocks.

For example, there is someone mining at multipool.us at ~60 MH/s -- here is what they earned over the past 12 hours (including their share of about 140 Megacoin blocks):

At multipool.us: ~0.52 BTC

Had they been mining at wemineltc.com, mining strictly LTC, here is what their share would have been worth over the past 12 hours:

At wemineltc.com: ~0.63 BTC

So even though multipool.us includes LTC, the constant switching, lost work, etc is actually resulting in less profit for the miners in a lot of cases. It drives up the difficulty levels and results in dumping on the exchanges...which also lowers the price a bit. Too much importance is being placed on the current market price at any given second...but this doesn't always represent the true value. Somebody overpays for 5 Bottlecaps on Cryptsy? There's your new "price" and the multipools start hitting CAPS. Add to the fact that massive spikes in hash power result in a higher number of stale shares due to new block lag, and it really isn't doing anybody any good.

I think multi-mining will always be around...but now that coins are being updated with new difficulty formulas the advantage of multi-mining is diminishing rapidly. With the old formula, they were making a killing on Megacoin -- it was the perfect formula to be exploited on the multipools. As hash rate spiked...the difficulty actually started dropping for quite a while...and they could blast through a lot of blocks before it was no longer the most profitable coin to mine. With the new Megacoin formula alone, they multi-miners are going to take an instant hit on their profit margins. At first glance, it appears appealing...but once people start putting a pencil to it and realizing they aren't getting the return they thought, they will start to bail.

[FanEagle]

Just to let  you know, megacoin online wallet doesn't exists anymore, along the first faucet

[digeros]

I read somewhere that this coin can be mined directly from the QT wallet.  Is this correct?  TIA

like most coins u can but it uses cpu to mine so hash rate will most likely be way too low to find a block.

I bought this was scrypt.  Why can't I solo mine from the client and use my Dual GPUs?  Thanks!


Question:  how many MEC coins does the average miner here have?  And what can a $2,000 dual 7950 RIG mine right now in 24 hours?  Thanks again.

My Experience EXACTLY VLAD!!! I have about the same rig as you (Windows Dual Core plus AMD 7970's x2) and my returns for MEC mining were so small I just decided to mine something easy and sell it off to BUY MEC.  I set my machine to mine (load balance between a solo server and a pool server) all night and didn't get one block or even very much on the pool.  I can't figure out the optimization requirements for this coin.  I would like to mine it (as  that also supports the network of the coin) but have not really figured it out.  -digeros

[Nordstern]

I Support: BTC, ANC, PHS  BTC: address: 1Eqs5p4LQM7yWmnEEqibDAzDaDXcvXJLnn   :::  ANC: address: AWANsirx8TxkFpV7DTUQ7uVFu7ad5ENb9R   :::   PHS: address: 9XGC4hJEj3UFjpJVHTARLbUJk4PQxuYjrX

... My Experience EXACTLY VLAD!!! I have about the same rig as you (Windows Dual Core plus AMD 7970's x2) and my returns for MEC mining were so small I just decided to mine something easy and sell it off to BUY MEC. ...

so maybe you should update your signature... 

[Alienwalkerx]

Hey guys, perhaps we can put some mining info up at megacoin.co.nz.

Not pool information just a nice looking infograph or download pack which will help people set up solo mining MEC.

I know lots of people who see a config file and turn their nose to an otherwise simple practice (just looks daunting).

Maybe then megacoin will be pushed a litter further into mainstream  

[sharknutzz]

I pointed 1 MH at MEC yesterday (solo) and got one of the remaining 125 MEC blocks and a 75 MEC block within about 5 hours or so.  My main goal was actually to help get us past block 63005, but a 200 MEC gain is OK too  

The main thing is to be sure you have your rig and GPUs configured correctly.  In my experience with solo mining scrypt coins, the coin doesn't matter.  The only thing that has ever brought performance down for me is extremely low difficulty, just because it leads to orphans.  Once the difficulty rises to something meaningful, I can basically calculate my coins per day based on difficulty swings and have no trouble consistently hitting it, again regardless of which coin we're talking about.

YMMV  

[sharknutzz]

Wow, Cryptsy just fell over.... (not just for MEC, but for all coins)

An Internal Error Has Occurred.
Error: An Internal Error Has Occurred.

 

[kriwest]

Wow, Cryptsy just fell over.... (not just for MEC, but for all coins)

An Internal Error Has Occurred.
Error: An Internal Error Has Occurred.

 

Yep. Praying that all coins are safe.

[darkproton]

[sharknutzz]

If they were to intentionally disable all trading I would be maybe a little worried about coin theft, but judging from the error maybe their front end has blown up or maybe a database is curled up in the fetal position.

Have you noticed for the past several days, that trades execute very slowly?  So slow in fact that if you see a large 'dump' order you actually have time to cancel and move out of the way  

Cryptsy definitely needs more horsepower, it looks like they are going through the same growing pains that Gox faced.

All in my humble opinion.

[darkproton]

What fun the past day or so has been! Great work, Kimoto

Block explorer is back up and on the correct chain now!

http://mega.rapta.net:2750

Thanks for your hard work on the block explorer.  I have sent you a small donation and urge others to do so. 

I agree wholeheartedly. sending thank yous in mec as we speak

[digeros]

What fun the past day or so has been! Great work, Kimoto

Block explorer is back up and on the correct chain now!

http://mega.rapta.net:2750

Thanks for your hard work on the block explorer.  I have sent you a small donation and urge others to do so. 

I agree wholeheartedly. sending thank yous in mec as we speak

WOW GREAT TO SEE SOO MANY TRANSACTIONS   I have NEVER seen such a Transaction stuffed Block as This one.... 201,438 MEC Value OUT in 14 Transactions!!!  yet the net didn't even hiccup...  NICE

63606   2013-09-14 16:39:27   14   201438.99812388   4.717   18420525   61.7004   115.497   21.0327%

-digeros

[darkproton]

I think that was me transferring some mec from cryptsy. Got scarred with the down time

[sharknutzz]

Nothing wrong with that, better to be safe than leave it in an exchange and see if somebody is capable of stealing it.

Even without theft, I would lay odds that you'll see a cryptsy outage sometime soon.  I think they are getting more customers (and bots) than they can handle.  The trading engine is obviously overwhelmed.  As an example, watch their MEC auto-sell orders get executed.  You see 1 MEC sold...then 2 MEC...then 1.... (obvious auto sells).  The thing is, it is currently taking cryptsy several minutes just to clear these out at a given price point.  BTC-E or Gox would blast through orders like this without even blinking.

Anyways no slam against cryptsy, they just need to get to work and improve, and the sooner the better.

[digeros]

Nothing wrong with that, better to be safe than leave it in an exchange and see if somebody is capable of stealing it.

Even without theft, I would lay odds that you'll see a cryptsy outage sometime soon.  I think they are getting more customers (and bots) than they can handle.  The trading engine is obviously overwhelmed.  As an example, watch their MEC auto-sell orders get executed.  You see 1 MEC sold...then 2 MEC...then 1.... (obvious auto sells).  The thing is, it is currently taking cryptsy several minutes just to clear these out at a given price point.  BTC-E or Gox would blast through orders like this without even blinking.

Anyways no slam against cryptsy, they just need to get to work and improve, and the sooner the better.

I have noticed the Same delay and not just on MEC but also lots of other Cryptsy coin exchanges. 
It could be that they are starting to overload their processors (running all those wallets and just keeping them all up to date must be just one of the Pains in the A** for those poor bastards, plus all those micro transactions from the auto-selling mine and sell folks)  The quick and dirty solution would be to set a MINIMUM TRANSACTION SIZE on the EXCHANGE. 

HISTORY:  Back in the day of REAL marketmakers in lightly traded NASDAQ stocks, Marketmakers would never sell less than a 100 share lot because less than that is not worth the fee.
-digeros