Bitcoin Forum

Hey guys,

Are any of you currently mining Namecoins?
What are you using?

/me raises his hands

Any miner compatobile with Namecoin.
(currently NO, i am not mine Namecoins).

all of them..

The council recognizes Grue...

Grue, speak to us your wisdom and adventures on this matter.

Never could get the main client to work, kept complaining about a lack of a bitcoin.conf that did in fact exist, so i gave up

It should be in the "namecoin" folder : http://dot-bit.org/InstallAndConfigureNamecoin
/me is cpu mining namecoins :p

Might give it another try... is the diff still low enough to make cpu mining with anything less than the best viable? I like the idea of paying for a domain name with coins.

Edit: decided to just run the namecoind in my ubuntu vm and miner in host os... working like a charm. still no clue as to why namecoind pitches a fit about the bitcoin.conf every time i tried to run it in windows. oh well, daemons are easier to run and administer in *nix environments anyways.

Another question. CPU mining without killing my system, I'm getting about ~3Mh/s. Would it be best to solo mine the current low difficulty and hope for the occasional full block reward, or point it towards the only? namecoin pool and just build up coins at this point in time?

I have mined a few blocks myself  ::)

1. mine
2. sell
3. profit? (not really because i could be mining bitcoins)
I probably mined more than 10 000 namecoins to date. :p

Namecoin miner

Count me in (and countless others).

*raisehand*

Me.

Don't forget me

Me too, currently in the one and only pool out there...

We need more competition there (and 0-fee pools), seriously!

Luke-Jr, NEligius to the rescue? ;)
The code base should be nearly identical and for profit margins... well, let's say there's a reason why I mine namecoins.

If anyone wants to get rid of their namecoins, I would be happy to buy them directly via BTC at NMC/BTC diff rate per NMC, approach me via PM.

Anyone would be willing to do that given the rate they're selling at on the exchange...Next estimated difficulty (http://dot-bit.org/tools/nextDifficulty.php) could change things though. Big 3x jump estimated.

What's really bugging me is the fact that I found 6 blocks for the pool so far but only got ~115 NMC due to pooling reasons >:(

This one is a really evil stat!
(Yes I know that this just means that I'm ~3 times more lucky than I should be... not that I would have earned this much solo)

Looks like a lot of people recently found out about namecoins + profit in them! ;)

Still, only a single pool sounds really bad to me!

count me in

We had a 5x difficulty increase on the NMC mining last night, and that is due to double in 6 days time. On the plus side the value of NMC has gone a bit crazy.

24 hours from now BTC difficulty is set to increase by 65%.... watch as the number of NMC miners increases rapidly

I am mining namecoins on 13 5870s running Phoenix/phatk on 32-bit Windows 7, just under 5.5 Gh/s, not in a pool.

Given the current value of a namecoins in terms of bitcoins, mining namecoins seems like a good idea, at least until the namecoin difficulty rises a bit more.

How do you figure out what your namecoin address is once you've got the client running?

the first rule of fight club is?

Never mind, figured it out.

How do I trade NMC for BTC and how hard is it?

NMC can only be traded for BTC (would be nice if you could trade it for $ )

The price has skyrocketed... in 1 week it has increased 20 fold. It used to be 200 NMC = 1 BTC, now it is nearly 10 NMC = 1 BTC

NMC hoarders are creaming themselves with joy at the moment.

Very easy to trade:
https://exchange.bitparking.com/main

Forum
http://dot-bit.org/forum

Mining pool - not worth soloing any more, unless you have a LOT of miners
http://bitparking.com/pool

Unfortunately the ONLY pool I'm aware of - with 3% fees and the same operator as the exchange.

Well, good time for someone else to make a pool, or even better if one or more of the BTC ones switches to NMC.

Jeez, gonna need it after today's 65% BTC mining difficulty increase.... BTC mining is so yesterday ;)

Ofc we still need people mining BTC... If BTC dies, then NMC will also die, as far as making money is concerned.

Crazy times, I was mining 100s of NMC per day up till yesterday, now less than 100, but I'm still making the same money !!!! amazing .... price escalation ftw !!!

Does this calcualtor work for namecoin?

http://www.alloscomp.com/bitcoin/calculator.php

If it does I'm deleting this threat and heading west!!!!

Holy moley!

Yes, I just stuck in the current values, and they tally with my records of what I am currently getting.

We need more pools out there. I don't think the current pool is going to be able to handle the number of people coming over to NMC by the end of today, and the coming days.

getting a lot of disconnects and miner idle, thus not realising the true hash/s :( pool can't handle the number of people, and soloing isn't viable, unless your have a LOT of miners or you are extremely patient.

Soloing is viable, you should get 2 hits per day at 1550 MHashes.

That pool is VERY UNSTABLE!

Can't believe I'm only doing this now, had the idea a while back, should have just mined a few thousand!

BTW Who in this thread thinks it's ethical to delete the thread so we can mine on our lonesome?? :D

Yeah, viable, but luck can be a bitch, as she was with me yesterday :(

It's only been this last week, that you could be sure to sell all that you mined, and at the higher prices. I only jumped on board about a week and a half ago, after about a week of trialling it.

UNSTABLE... hell yeah... I've got over 3Ghash/s, but generally only shows as under 2Ghash/s on the pool :(

No way to hide this from anyone now. The word is out.

I tried to keep it quiet for as long as possible, but then 2 days ago a Russian group found out that NMC was far more profitable (one days I made $1465!!), then they put the word out, and NMC mining just took off, thus resulting in a MAJOR increase in difficulty !!

Ofc with the current price increase NMC/BTC, 1550 Mhash/s = 2 blocks = 9 to 10 BTC per day

So, why the F is anyone still mining BTC !!!

Ok I'll give it a go

Ive run namecoind under windows and opened another dos window and have downloaded all the blocks but now what? Ive taken a punt I need to run the getwork cmd but am I actually mining?

This is what I'm seeing:

c:\>Namecoin\namecoind getinfo
{
    "version" : 32150,
    "balance" : 0.00000000,
    "blocks" : 12628,
    "connections" : 8,
    "proxy" : "",
    "generate" : false,
    "genproclimit" : -1,
    "difficulty" : 15071.20565385,
    "hashespersec" : 0,
    "testnet" : false,
    "keypoololdest" : 1308133738,
    "paytxfee" : 0.00000000,
    "errors" : ""

Also, how do u select the program to mine using the CPU instead of my video card?

I'm solo mining with some 2 GHash/sec (I've got my own private pool setup).
Been averaging only slightly above a block/day tho. Luck is a bitch.

Too bad the pool is down more than 50% of the time after people started bragging so much about how profitable it is to mine namecoins. Doesn't help that the price went down 35% the last few hours either.

Mining softare/config is the same as for BTC... check the forum for specifics: http://dot-bit.org/forum

with the phoenix miner connecting to the Bitpark pool, I have a bat file with:

phoenix.exe -u http://NFcqBy2wEnRKjBZZD5AGoTt37zwd5WrhLQ:password@bitparking.com:9098/ -k poclbm BFI_INT VECTORS AGGRESSION=13 WORKSIZE=128 DEVICE=0 FASTLOOP=false

NFcqBy2wEnRKjBZZD5AGoTt37zwd5WrhLQ = needs to be your address
get that by entering at the command prompt: namecoind getgenerate
or namecoind getgenerate >> address.txt
which will place the address in a text file :)
password can be anything, it's not actually used

No idea about CPU... not good for mining, but I suppose if you use the -t <number of threads -1> flag you could use it alongside the GPU without affecting the GPU performance


Yeah, nightmare. Major waste of hash rate. Need more pools !

The mass of miners who joined up recently, now have 24 hours plus of coins, and they have obviously started to unload them.

Thanks for that

Ive got it configured using Phoenix (set to use CPU) but its just hanging on connecting.. :(

I also read somewhere the port to use is 8334?

Ok got it up and running :)

\>namecoin\namecoind getinfo

  "version" : 32150,
  "balance" : 0.00000000,
  "blocks" : 12654,
  "connections" : 8,
  "proxy" : "",
  "generate" : true,
  "genproclimit" : -1,
  "difficulty" : 15071.20565385,
  "hashespersec" : 4173746,
  "testnet" : false,
  "keypoololdest" : 1308133738,
  "paytxfee" : 0.00000000,
  "errors" : ""

Looks like its using my CPU but my hash rate & GPU usage has dropped by about a 1/3 mining for Bitcoin?

Hi Oldminer,

Just use the normal miners you use for bitcoin GPU mining.

Read the top article and it's related articles for help.

http://www.bitcoin.co.za/

Ok I can pool mine ok now also using my CPU

thanks for replies :)                

Still got an issue here whether I mine using namecoind.exe or guiminer (with phoenix), in that as soon as it starts hashing (using the CPU) my GPU hashing drops markedly. Think I'll stick with bitcoin mining for now :)

Is there no gui client for the namecoin wallet like there is for bitcoin?  Or am I just confused about how to run it...?

I have namecoind running, but obviously, that's not a gui.  :P  Is namecoind the only thing available at this time?

No gui for now, but it's on the developper's todo list

If you guys are having difficulty generating namecoin addresses I will gladly provide you with a few you can mine to and do BTC cash out for you for 1% of the proceeds.

As long as you provide the pool software too I would even do that (though I'd like to rather have the Namecoins to be able to diversify a bit my portfolio).

tried soloing for the last 24 hours with my 2GH and generated 0 blocks.  Back to pool for now.  gotta make hay-3% while the namecoin sun is shining.

Looks like the pool was stable overnight (UK, 3 Ghash/s), I got just over 2 blocks worth of coins :)

Started today :o :o :o

The pool seems broken again now, and I think it's ruining everything. If you use it you will get a lot of refused submits, and if you don't use it it will orphan your solo blocks because it takes so long for it to register other blocks.

Why would anyone be willing to part with BTCs to buy namecoins? Where does their value in BTC originate from?

*standing up*

I dedicated my single 5870 rig (oc to 950 MHz) with DiabloMiner (410 Mh/s) to Namecoins last night because of the difficulty increase. Just thought it would be an investment that would pay off once Namecoin became more popular only to find a chart today that suggests that even now Namecoin is more profitable! Me likes it!

Here is the command to send NMC
./namecoind sendtoaddress <address> <amount>

Be sure to leave enough extra to cover the 0.01 transaction fee.

-SteveA

Funny/scary that people are panic-selling now on namecoin instead of hoarding and keeping the exchange rate high.

If "Volume" is really in BTC, there are more BTC being traded on Bitparking than on MtGox! :o

There's no stable pool for namecoins it appears, even though at least three are online publicly. Have had problems with all. Guess I will take the variance of solo mining until the next dif change (when namecoins will likely pull back to parity with bitcoins).

When the bitparking site goes down but the miner keeps running, do those results still get counted?

Fakeman:

If it is still counting accepted shares, then I would assume it should still be keeping up. I don't know for sure though.

Sukrim:

The volume is in MNC. Although considering this is still a relatively new market, it is growing super fast. The next difficulty jump is going to be huge. Over the past three hours, an average of about 35 blocks have been found each hour. That mean it is running at 5.8X the desired block creation rate. This would indicate that we should expect a 580% increase in difficulty if it was based off just this time span. I think the actual number may be smaller, but still a triple digit increase. The number of NMC flowing into the system will decrease by the XXX% after this jump. This makes me think that the price will see an increase around that time, but as we all know price doesn't necessarily follow the difficulty. Personally, I wouldn't think of selling until that point. I've actually been moving more BTC from MtGox to bitparking to buy up as many as I can before the difficulty jump. It's a gamble, but if I'm right, it should be a nice return.

-SteveA

edit: fixed my math.

Wow, luckily I have my failover miners running - that pool is unstable as hell!

I wonder why still none of the bigger (or especially: smaller!) Bitcoin pools offers a namecoin pool too...

Bleh I'm awful at solo mining. 36+ hours with 2gh and still no block...

Me 3 days @ 350mh/s and no block, before the difficulty change i got 2 blocks per day.

I found 8 blocks... but only in the pool, so I'm already ~300 Namecoins behind my luck :'(

my rigs found 5 blocks total, found 2 blocks while in a pool, then switched to solo and found 3 blocks later.

btw, what's the current total hashrate for this? 500G, 1T?

I'm mining on the pool but it only shows 2-2.4G/s out of my 3.
Where do I point the miner to solo mine? Seems like the chance is worth it.

I found 23 Blocks for the pool...

Yes sir!

I have approximately ~10% stales mining for the http://bitparking.com pool. Have found 2 blocks since yesterday.
I also have some connection problems and I do not know what is the reason for them.
Miners do have some sudden disconnections from the pool. Not all at once. Any of them is suddenly disconnected and then it tries reconnecting and is back online. This can be repeated many many times. Sometimes it happens too often.

I configured GUIminer to mine Namecoins with Phoenix+Phatk.

Can you help me guys make my miners more stable (less disconnections) and effective (less stales)?

Namecoin mining difficulty increase to go up by 253% today at 16:17 UTC

!!!

Where is it pissible to see this figure?

http://dot-bit.org/tools/nextDifficulty.php

NMC and BTC

thanx

Thats it, now bitcoin mining is more profitable than namecoin mining (assuming an exchange rate of 0.06)... Lucky i was able to generate 4 more namecoin blocks since yesterday evening with my 2,5 Ghashes. Big Luck.

And now: All stop mining Namecoins and go back to BTC, it is more profitable.

In the underroos of many a groggy miner this morning.

i hate you

no blocks found in 3 days of soloing with 2GH

oh well, it was fun while it lasted...

2 blocks in 1 day in the pool on 330mh/s  :'(

Party's over Bitcoiners!  The great NameCoin arbitrage hole has snapped shut.  [a great shuffling of feet back to bitcoin]

will be interesting to watch the difficulty plummet the next adjustment. Maybe it will give pool operators time to get their (#*( together.

Where can one see the current mining rate?

Currently solo mining with 170MH/s.  We'll see how it goes.

Good lucky getting any at that rate, as difficulty has just exploded.

At the current difficulty that 1 block every 256 days. With the current difficulty trend i'd say 50% to find 1 block within 3 years.

lol - feeling really lucky eh?

Lol, playing the lottery... what can I say?

solo mining on namecoin is a real problem, not only because of the recently exploded difficulty, but because of the concentration of mining power. I was solo mining before the increase, and I had a found block orphaned for almost a whole day (I didn't even realize I had solved one more until I checked tonight and saw a higher balance than before). The pools seem to be set to deliberately be uninterested in blocks not found by them, and they're a supermajority on the small system.

I suppose if you have an extra card to chunk and want to play lottery it's not such a bad idea, might get lucky, who knows?

Actually 170 MH is stated as 16 days 8 hours 11 min according to:

http://dot-bit.org/tools/namecoinCalculator.php?difficulty=55882.4523785&hashrate=170000

Still not a great bet, but much better than 256 days. (Are you a network guy?) ;o) lol

I had too many browser pages opened, i thought we was talking about bitcoins :-( Solo mining has been fun!

Guys can someone tell me about this namecoin. I run 7 ghash on a bitcoin server and i want to know if a switch to namecoin would yield more money. I make roughly 10 coins a day atm

Income is about the same for mining BTC or NMC

When BTC price was 0.06, I was earning more by mining NMC (double the income)

NMC dropped to 0.03 at one point, and at that price it was not more profitable.

It is now between 0.04 and 0.05, so there's very little difference in profit

really? you want someone to point you to the money?
its incredibly easy to figure out. oh and the numbers above is wrong so guess its not that easy.

 Found this good a few days ago when I started, but getting 1/6th-1/8th of what I did then - so its no longer worth it for me. Neithers bitcoin mining, but thats a different story. Guess I'll have to speculate or go home  :-\ (glad it changed at the time it did though, as I was just about to buy a quad mining rig, which is ofc now cancelled)

So you'll be paying the 1BTC you promised for my advice in this thread then?

http://forum.bitcoin.org/index.php?topic=13072.0

error

Kinda off...its more like every 16 days.

I'm using namecoins and who's ever account 1Ja4zQBh9mjx9L7JyZ1kNuRyDeM8wFS8uv is I just sent 49 namecoins by accident

*registers 1Ja4zQBh9mjx9L7JyZ1kNuRyDeM8wFS8uv*

Is that even a valid Namecoin address? Imho the transaction should have been rejected by the network, right?!

Not sure if you have been watching the news... but this is going to be huge (http://forum.bitcoin.org/index.php?topic=29074.0;all) for the difficulty level. Think about it!

nah, next difficulty is still stimated at 23.xxx in about 26 hours... the number has been increasing, but just by a small amount...

But when the next difficulty hits i dont think it will last for long...

Im giving namecoins 2 weeks solo mining trial with my 2400mhash... i got 6 blocks in 2 days at first, but after that i just getting a block every 3-4 days!!! wtf, i dont what is going on... i found a total of 8 blocks in one and half week...

price is too low, so it definately not profitable at all.

when the next difficulty comes, two things will happen: massive spike in the hashing power and drop in namecoin value because those who mine it will quickly convert it to BTC. Will be interesting to watch.

The funny thing to note is that yes it initially dropped in NMC ratio to BTC but overall the price is positive. I am guessing the miners decided to keep their NMC they mined for a longer term investment.

There were also some relatively big buy orders placed during the last round which kept prices up. How long those buyers intend to hold is another question but prices seem pretty stable at the moment.

Or, like me, they were idiots and waited until the end of the mining bonanza to withdraw (you need to withdraw from the pool to a wallet before sending to the exchange, pool coins aren't available to be exchanged immediately).  My namecoins won't be traded for bitcoins for at least 2-3 more days at this rate.  If the NMC network hash rate keeps dropping like it has been, maybe 2 weeks to get the necessary confirmations...

In other words, my decision to "buy and hold" has been made for me by the network.  Definitely going to play it smarter for the next round.

Count on me.

I'm solo mining with exactly 2 GHash/sec (I have my own private pool setup).

Been averaging just marginally over a square/day tho. Fortunes is a bitch.