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

[rapta]

bholzer thank you for adding hash power to the pool.  I have all my miners pointed at it, but sadly I only have 2mash :/ so I can't find blocks easily on my own.

[1715554979]

1715554979

[1715554979]

1715554979

[bholzer]

I just tossed 8 MH/s into the multipool and 8 MH/s solo to help clear this thing.

Kimoto: Appreciate your effort here, but you can't expect us to do this again in 30 days. The issue has been exposed and hopefully you're planning on releasing an adjustment before next time...or MegaCoin will likely die. The only reason it's as far along as it is, is because people were willing to take it in the shorts for 5 days just to get it out of the rut. The people that will be rewarded the most in this situation are the multipool people that did nothing -- the second MegaCoin is back on top they'll start sucking it down.

I don't think anyone realizes just how close MegaCoin was to falling off the face of the earth because of such a simple situation. I've actually lost out on more profit continuing to mine throughout this situation (albeit off-and-on after day 3) than the current value of my entire MegaCoin holdings. Hopefully things will start to bounce back on the exchange, too.

[rapta]

Does anyone have a block explorer working?  I can host one if someone can assist me in setting it up.  I am fairly familiar with linux, just not interfacing with the coin dameon much.  I have some Ubuntu lamp droplets that I can host it on.  Let me know!

[Whuzz]

Can anyone provide me with a few peers? I can't seem to make any connections after upgrading to the latest client.

70.98.114.238
79.142.78.135
79.138.30.13
119.9.15.177
1.162.171.132
87.98.178.140
50.2.8.67
166.78.13.119

thanks, needed that, now connecting, nice and low at criptsy so let's buy
you all know me guys at mec, my clone account, not Kimoto

[rapta]

I agree, it could have easily fallen apart.  We are on the road to recovery and I think price will continue to rise as the network gets back on it's feet.   My fear is if the price goes up, it will be profitable again for multipool.  That will cause a large 500-1000mhash swing on the network.  Hopefully there is a big enough base mining it outside of that to sustain us through a sticky difficulty.

[bholzer]

I agree, it could have easily fallen apart.  We are on the road to recovery and I think price will continue to rise as the network gets back on it's feet.   My fear is if the price goes up, it will be profitable again for multipool.  That will cause a large 500-1000mhash swing on the network.  Hopefully there is a big enough base mining it outside of that to sustain us through a sticky difficulty.

It looks like right now, you and me are making up virtually all of the network speed (over 95%.) I've yet to find a block in the past 2 hours solo...and in the pool we haven't found anything since I started back up. Frustrating...but we push on. I'm hoping this next drop will be slightly more significant.

[darianc]

I think were in for another rough ride as soon as multipool switches back to MEC.

Also, multipool thinks MECs price is still 0.000126 which means it'll be sooner than it should be.
(Cryptsy's last price is 0.00007399)
Luckily, MEC is fifth in line in rotation in this snapshot.



And heres multipools most recent hash/difficulty graph clearly showing a very, very slow downward difficulty adjustment.
(slow when compared to historical behavior.)



I'm afraid until the adjustment algorithm is updated that blocks are going to be very hard to come by.

[bholzer]

I think were in for another rough ride as soon as multipool switches back to MEC.

Also, multipool thinks MECs price is still 0.000126 which means it'll be sooner than it should be.
(Cryptsy's last price is 0.00007399)
Luckily, MEC is fifth in line in rotation in this snapshot.



And heres multipools most recent hash/difficulty graph clearly showing a very, very slow downward difficulty adjustment.
(slow when compared to historical behavior.)



I'm afraid until the adjustment algorithm is updated that blocks are going to be very hard to come by.

Yeah...I thought about it and I'm starting to pull back out. I've made peace with the fact that I might have to just cut my losses and walk. I'm holding on to my MEC and hoping things work out...but clearly this is just getting ridiculous. Not sure why an adjustment isn't being made to the forumla or we're not at least being kept in the loop but this sucks - we're over 250 blocks in and the speed just keeps dropping faster than the difficulty - I'm tired of getting screwed. We'll see how things play out.

[rapta]

I don't think that's true.  The only difference now is there is NO hash power to push through the same number of blocks to change the difficulty.  If you scale it by blocks and not time and look at it closer I bet the difficulty changed over the same number of blocks during the spikes.  Notice at the "pits" of those spikes there is still plenty of hash power on the network.

Difficulty is changed every 9 blocks, which ideally is 22.5 minutes.  This is just not an ideal situation, nor a "normal situation".

[gr33k]

New MegaCoin mining pool up

http://gr33k.gotdns.org

Stratum, 1% pool fee, and just starting - Got one worker so far - Me

more details:
https://bitcointalk.org/index.php?topic=266577

[A L I E N]

New MegaCoin mining pool up

http://gr33k.gotdns.org

Stratum, 1% pool fee, and just starting - Got one worker so far - Me

more details:
https://bitcointalk.org/index.php?topic=266577

My account is locked because I put in a fake email and apparently you need to activate through email.  If you unlock my account and disable the email stuff I would put some hash there.

For those that weren't here earlier (or don't read all the posts) a few of us move from multipool to meg.smalltimeminer.com

[vtr99]

It would be a real shame to see MEGA coin die. From the beginning it looked like a winner, and has some of the best development and features seen in any crypto coin. I expected to see a jump in difficulty after block 42k, but this is nuts. Nearly a week of wasted time,  money, and hashing power so far. I have a couple buddies over on mega.minepool.net trying to keep MEGA alive. Between us we found 21 blocks in 4 days, and confirmed none. I think we need to hear something soon, or I need to advise them to move on and cut their losses. Thanks for all the info that was provided here, and to everyone that tried to keep this coin going.

v12amg

[shellbunner]

It would be a real shame to see MEGA coin die. From the beginning it looked like a winner, and has some of the best development and features seen in any crypto coin. I expected to see a jump in difficulty after block 42k, but this is nuts. Nearly a week of wasted time,  money, and hashing power so far. I have a couple buddies over on mega.minepool.net trying to keep MEGA alive. Between us we found 21 blocks in 4 days, and confirmed none. I think we need to hear something soon, or I need to advise them to move on and cut their losses. Thanks for all the info that was provided here, and to everyone that tried to keep this coin going.

v12amg

I've seen you mining for as long as I can remember. Thanks for sticking with it.
I hope Kimoto can give us an update soon, or I may have to move on to a different coin as well.

[vtr99]

New MegaCoin mining pool up

http://gr33k.gotdns.org

Stratum, 1% pool fee, and just starting - Got one worker so far - Me

more details:
https://bitcointalk.org/index.php?topic=266577

My account is locked because I put in a fake email and apparently you need to activate through email.  If you unlock my account and disable the email stuff I would put some hash there.

For those that weren't here earlier (or don't read all the posts) a few of us move from multipool to meg.smalltimeminer.com

I don't want to sound unappreciative of gr33k's efforts, but I think one problem this coin has is too many pools, and not enough hashing power. As it is, we have found quite a few blocks that may never be confirmed. I can't see moving to another pool and ending up in this situation again. I'm not trying to be pessimistic, and will do my best to help if we can come up with a plan to get this coin moving again.

[ohiwastedmylif]

some buy support would sure help bring up profitability and then increase the hash rate.

[vtr99]

It would be a real shame to see MEGA coin die. From the beginning it looked like a winner, and has some of the best development and features seen in any crypto coin. I expected to see a jump in difficulty after block 42k, but this is nuts. Nearly a week of wasted time,  money, and hashing power so far. I have a couple buddies over on mega.minepool.net trying to keep MEGA alive. Between us we found 21 blocks in 4 days, and confirmed none. I think we need to hear something soon, or I need to advise them to move on and cut their losses. Thanks for all the info that was provided here, and to everyone that tried to keep this coin going.

v12amg

I've seen you mining for as long as I can remember. Thanks for sticking with it.
I hope Kimoto can give us an update soon, or I may have to move on to a different coin as well.

Actually the only reason I signed up for this forum is because I noticed some of my fellow miners were here talking about how to recover from this. Nice to see there are other people who care more about the long term success of MEGA coin, than they do about short term profits.
If we get a fix in the works, I will be ready to go... Let's keep our fingers crossed for some good news.

[A L I E N]

I've said this before but some may be noticing it more now.  The network hash rate is reported with a delay. This probably has something to do with why the difficulty adjustments are delayed as well. 

For instance right now it is reporting: Network Hashrate: 14.424 MH/s
However there is at least 25-30mh/s on the pools plus whatever additional bholder is solo mining with.

So the network hash may be reported to be even lower for a while.  I don't want anyone to be dissuaded when they see this because the actual network hash rate is well above it.

[gr33k]

New MegaCoin mining pool up

http://gr33k.gotdns.org

Stratum, 1% pool fee, and just starting - Got one worker so far - Me

more details:
https://bitcointalk.org/index.php?topic=266577

My account is locked because I put in a fake email and apparently you need to activate through email.  If you unlock my account and disable the email stuff I would put some hash there.

For those that weren't here earlier (or don't read all the posts) a few of us move from multipool to meg.smalltimeminer.com

Thanks ALIEN Your account is no longer locked and ready to go!

Darkproton also signed up - your account is active.

Anyone else sign up - let me know and I'll unlock your account until I fix this cursed SASL authentication

Regarding too many pools- Yeah I can see where you are coming from with that statement. However, I'm also working on a blockexplorer for megacoin and in the long run...I have big things in mind for crypto coins I personally have mined more of these coins than any other - that and I gotta start somewhere

[bholzer]

New MegaCoin mining pool up

http://gr33k.gotdns.org

Stratum, 1% pool fee, and just starting - Got one worker so far - Me

more details:
https://bitcointalk.org/index.php?topic=266577

My account is locked because I put in a fake email and apparently you need to activate through email.  If you unlock my account and disable the email stuff I would put some hash there.

For those that weren't here earlier (or don't read all the posts) a few of us move from multipool to meg.smalltimeminer.com

I don't want to sound unappreciative of gr33k's efforts, but I think one problem this coin has is too many pools, and not enough hashing power. As it is, we have found quite a few blocks that may never be confirmed. I can't see moving to another pool and ending up in this situation again. I'm not trying to be pessimistic, and will do my best to help if we can come up with a plan to get this coin moving again.

This is incorrect, actually. There were plenty of people mining this coin before the reward was halved and the bottom fell out of it. A big part of the problem was that the only big pool that was up-and-running right before the crash was at multipool...and a lot of people who were mining MegaCoin over there decided to just switch to the multi port instead. As a result, when things hit the cliff, everybody instantly switched to mining something else. We're still recovering from this rollercoaster hash rate (which created the problem.)

Perhaps you weren't around before this issue, but network speed was over 1 GH/s at points. The slow network speed now is due to the fact that it's taking forever to get the difficulty down to a reasonable level. It's getting there slowly...but the addition of dedicated MegaCoin pools will help for sure. Also, an adjustment to the formula is still a requirement in my opinion. We're still not out of the woods yet...but we're getting there. I really don't want to deal with this again in 30 days (and I guarantee the exact same thing will happen if the formula stays the same.)

[gr33k]

Doh - Firewall issue - Changed port to 3333 at some point during testing but hadn't updated firewall rules. Sorry! Fixed