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Author Topic: Anyone else considering mining Namecoin?  (Read 8738 times)
Braden
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June 09, 2011, 07:27:33 AM
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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?

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doublec
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June 09, 2011, 07:42:27 AM
 #2

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.
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June 09, 2011, 08:14:14 AM
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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 -.-

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June 09, 2011, 09:00:46 AM
 #4

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

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June 09, 2011, 09:20:30 AM
 #5

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
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June 09, 2011, 09:24:25 AM
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Already mined a few k.
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June 09, 2011, 12:28:13 PM
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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...

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doublec
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June 09, 2011, 12:50:15 PM
 #8

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? 
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June 09, 2011, 01:09:47 PM
 #9

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...

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June 09, 2011, 01:16:16 PM
 #10

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.

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jkminkov
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June 09, 2011, 01:21:55 PM
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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

Bleutrade
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Sukrim
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June 09, 2011, 01:27:23 PM
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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!

https://bitfinex.com <-- leveraged trading of BTCUSD, LTCUSD and LTCBTC (long and short) - 10% discount on fees for the first 30 days with this refcode: x5K9YtL3Zb
Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
doublec
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June 09, 2011, 01:43:25 PM
 #13


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
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June 09, 2011, 02:07:22 PM
 #14

is this a new currency?
i would expect more "network coins" to be appeared.  Grin
Braden
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June 09, 2011, 02:45:25 PM
 #15

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.


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zef
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June 09, 2011, 02:52:02 PM
 #16

ive read several articles on namecoin and i still dont understand what it is
td
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June 09, 2011, 02:58:44 PM
 #17

Based on the difficulty you could probably assume that not only are people considering it, many people are already on it.
Braden
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June 09, 2011, 03:03:35 PM
 #18

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

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doublec
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June 09, 2011, 03:20:50 PM
 #19

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
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June 09, 2011, 03:32:40 PM
 #20

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

http://dot-bit.org/Main_Page


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