Anyone else considering mining Namecoin?

[Braden]

I've been reading up on namecoin, and I figured I might move a couple of my workers over to it to diversify my mining production. Is anyone else considering/has already done this?

[1713568200]

1713568200

[1713568200]

1713568200

[1713568200]

1713568200

[doublec]

I've been reading up on namecoin, and I figured I might move a couple of my workers over to it to diversify my mining production. Is anyone else considering/has already done this?

There are quite a few people on the namecoin network mining so I'm guessing that people are doing this. Current difficulty is 2815.22139486.

[MrGaSp]

I've been reading up on namecoin, and I figured I might move a couple of my workers over to it to diversify my mining production. Is anyone else considering/has already done this?

I was for a while, had over 90 name coins, then formatted the machine my wallet was on -.-

[TheSeven]

Namecoin/Bitcoin forex rates are basically the same as the difficulty difference, so you won't really profit much from switching to namecoins.

[doublec]

Namecoin/Bitcoin forex rates are basically the same as the difficulty difference, so you won't really profit much from switching to namecoins.

Lowest trades are about 0.006 bitcoins per namecoin. What does the difficulty suggest they should be trading at?

[gigabytecoin]

Already mined a few k.

[jkminkov]

Namecoin/Bitcoin forex rates are basically the same as the difficulty difference, so you won't really profit much from switching to namecoins.

Lowest trades are about 0.006 bitcoins per namecoin. What does the difficulty suggest they should be trading at?

19 times less income mining those...

[doublec]

19 times less income mining those...

bitcoin difficulty = 567358.22457067
namecoin difficulty = 2815.22139486

ratio =  2815.22139486/567358.22457067
         = 0.004961982
Current price 1 namecoin = 0.0067 BTC

How is mining namecoins 19 times less income than mining bitcoins? 

[AlexWaters]

I've been reading up on namecoin, and I figured I might move a couple of my workers over to it to diversify my mining production. Is anyone else considering/has already done this?

I'm considering it, but have no idea how to run a bitcoin miner and namcoin simultaneously on windows. I have a separate machine I could mine namecoins on, but i don't want to waste time on it if lamecoins don't have a viable future...

[Sukrim]

You can run several mining programs on the same GPU.

If the agression settings (in phoenix' teminology) are the same, they will hash both at the same hash rate.

Should one instance go down (Pool down/problems) the other one will automagically get the full hash rate.


Currently I'm running 3 miners with ~100MH/s each on my single GPU:
100MH/s Eligius
100MH/s BTCguild
100MH/s Namecoin (Bitparking pool, as I don't want to have any wallet files on my mining computer and don't want to have another computer running 24/7 just to host a namecoind)

As written above, namecoins (if you can sell them at 0.006BTC a piece) are currently ~20% more profitable than Bitcoins.

[jkminkov]

19 times less income mining those...

bitcoin difficulty = 567358.22457067
namecoin difficulty = 2815.22139486

ratio =  2815.22139486/567358.22457067
         = 0.004961982
Current price 1 namecoin = 0.0067 BTC

How is mining namecoins 19 times less income than mining bitcoins? 

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

I put my hashrate 1330
price was 0,008(seen higher offers, with your price it is 25 times less)

$73.68 vs. $3,80 per day = 19-something less

[Sukrim]

19 times less income mining those...

bitcoin difficulty = 567358.22457067
namecoin difficulty = 2815.22139486

ratio =  2815.22139486/567358.22457067
         = 0.004961982
Current price 1 namecoin = 0.0067 BTC

How is mining namecoins 19 times less income than mining bitcoins? 

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

I put my hashrate 1330
price was 0,008(seen higher offers, with your price it is 25 times less)

$73.68 vs. $3,80 per day = 19-something less

Namecoin difficulty is at 2815 - not ~570k!

[doublec]

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

I put my hashrate 1330
price was 0,008(seen higher offers, with your price it is 25 times less)

$73.68 vs. $3,80 per day = 19-something less

Um, 0.008 is in bitcoins, that 3.80 is the value in bitcoins. So multiply that by the USD rate. I probably shouldn't mention that mining namecoins is good at the moment since it'll drive the price down, but the namecoin network does need more miners.

[luffy]

is this a new currency?
i would expect more "network coins" to be appeared. 

[Braden]

having looked into it a bit more, this is increasingly seeming like a good idea. The namecoin difficulty has increased a a higher % rate over the last coupe months compared to BTC, so if you mine now and trade in later it looks like a better BTC return than just BTC mining.

So I think I will move a worker over.

[zef]

ive read several articles on namecoin and i still dont understand what it is

[td]

Based on the difficulty you could probably assume that not only are people considering it, many people are already on it.

[Braden]

ive read several articles on namecoin and i still dont understand what it is

its like bitcoin, but used for registration of domains ending in .bit

[doublec]

So I think I will move a worker over.

#namecoin on irc.freenode.net has an active community if you want to discuss namecoin things.

[CoinMan]

ive read several articles on namecoin and i still dont understand what it is

http://dot-bit.org/Main_Page