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Author Topic: Difficulty is going to take such a knock!  (Read 5908 times)
Sjalq
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June 12, 2011, 01:00:31 AM
 #1

I can't wait for the exodus and then the drop in difficulty and/or the increase in shares. I really like mining Smiley

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Chucksta
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June 13, 2011, 11:40:20 AM
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LOL, have you seen the Namecoin difficulty increase, it's going from 3767 to 18080 on 13/06/2011

Currently it is far more profitable to mine NMC than BTC, but that is about to change.

You've got a few days to seriously boost your income. Then join me in the speculation game Smiley

Namecoins are mined in exactly the same way as Bitcoins, and uses exactly the same mining software (phoenix,GUIminer,poclbm, etc)

http://dot-bit.org for more info
miningnew
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June 13, 2011, 01:35:06 PM
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Is there any chart or something about the development of the dificulty?

bitjet
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June 13, 2011, 02:08:17 PM
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I can't wait for the exodus and then the drop in difficulty and/or the increase in shares. I really like mining Smiley

Blocks/hour    9.78 / 378 s

Yeah I dont think your assertion is correct. Diff is going UP as usual.
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June 13, 2011, 03:02:27 PM
 #5

Difficulty increase for BTC to go from 567358.224571 to 833025.290024 on June the 16th

Roughly a 46% increase

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

Can anyone say how much they will get per day per GPU, and your GPU's hash rate, sil vous plait of chips ?
Jack of Diamonds
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June 13, 2011, 03:03:55 PM
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LOL, have you seen the Namecoin difficulty increase, it's going from 3767 to 18080 on 13/06/2011

Currently it is far more profitable to mine NMC than BTC, but that is about to change.

You've got a few days to seriously boost your income. Then join me in the speculation game Smiley

Namecoins are mined in exactly the same way as Bitcoins, and uses exactly the same mining software (phoenix,GUIminer,poclbm, etc)

http://dot-bit.org for more info

Namecoin is too nerdy to ever 'take off' in the public. I do understand how it works but I don't expect 99% of people to 'get it'.

It's a good project though.

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June 13, 2011, 04:14:34 PM
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LOL, have you seen the Namecoin difficulty increase, it's going from 3767 to 18080 on 13/06/2011

Currently it is far more profitable to mine NMC than BTC, but that is about to change.

You've got a few days to seriously boost your income. Then join me in the speculation game Smiley

Namecoins are mined in exactly the same way as Bitcoins, and uses exactly the same mining software (phoenix,GUIminer,poclbm, etc)

http://dot-bit.org for more info

Namecoin is too nerdy to ever 'take off' in the public. I do understand how it works but I don't expect 99% of people to 'get it'.

It's a good project though.

I suspect most people would say the same about a digital cryptocurrency.

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Jack of Diamonds
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June 13, 2011, 05:26:21 PM
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I suspect most people would say the same about a digital cryptocurrency.

The client can be set up literally in 20 seconds and you are ready to recieve cash, so even a hippie selling alpaca socks or a site selling beef jerky (just using forum examples) can start their business right away.

Namecoin requires a lot of tweaking and technical understanding, and does not even work on the 'real' internet.
There isn't even a native 64-bit version for windows.

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kjj
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June 13, 2011, 05:28:12 PM
 #9

Get .bit included in the root servers and I'll become interested.  And so will everyone else.

p2pcoin: a USB/CD/PXE p2pool miner - 1N8ZXx2cuMzqBYSK72X4DAy1UdDbZQNPLf - todo
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Chucksta
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June 13, 2011, 09:05:30 PM
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I suspect most people would say the same about a digital cryptocurrency.

The client can be set up literally in 20 seconds and you are ready to recieve cash, so even a hippie selling alpaca socks or a site selling beef jerky (just using forum examples) can start their business right away.

Namecoin requires a lot of tweaking and technical understanding, and does not even work on the 'real' internet.
There isn't even a native 64-bit version for windows.

Nevermind the actual use of NMC, what most are interested in is making money, and up until this afternoon you could make more money mining NMC than BTC.

For example when I stopped mining BTC a week or so ago I was getting 1 BTC per miner per day (5870). I switched over to NMC and was able to make 3 BTC per card per.

I'm afraid NMC has had 2 difficulty increases since I started, and the last one increased it by 5 fold. The next (7 days from now) will double that increase Sad

Major increase was due to the sudden influx of a shed load of people/miners. Besides that there isn't enough demand for the coins to cator for the sudden increase in miners, so when they all start selling, things are not gonna be too pretty.

Anyway, still worth checking out, and monitor both the NMC market and BTC market.

I have said it many times already, but worth saying again, the best way to make money is to buy and sell the coins - and now you have BTC/USD and NMC/BTC

Now, what we really could do with is a way to trade NMC directly to USD - then we'd have BTC/USD, NMC/USD and NMC/BTC.... any FOREX peeps out there will understand how useful that can be Smiley

gigabytecoin
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June 14, 2011, 05:20:05 AM
 #11

The only thing we know for certain is that a single Bitcoin Difficulty re-target can not change by more than a factor of four up or down. It sounds like NameCoin could use a similar circuit-breaker.

Name is simply a fork of bitcoin, there are just a few tweaks to it's inner workings. There probably is one.
bitjet
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June 14, 2011, 06:37:06 AM
 #12

I suspect most people would say the same about a digital cryptocurrency.

The client can be set up literally in 20 seconds and you are ready to recieve cash, so even a hippie selling alpaca socks or a site selling beef jerky (just using forum examples) can start their business right away.

negative. The client still needs to d/l the blockchain. This can be a game killer for a lot of users for some reason. Most of the people I've showed it to got impatient with the blockchain downloading and got upset and never did anything with it.
Chucksta
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June 14, 2011, 08:05:06 AM
 #13

I suspect most people would say the same about a digital cryptocurrency.

The client can be set up literally in 20 seconds and you are ready to recieve cash, so even a hippie selling alpaca socks or a site selling beef jerky (just using forum examples) can start their business right away.

negative. The client still needs to d/l the blockchain. This can be a game killer for a lot of users for some reason. Most of the people I've showed it to got impatient with the blockchain downloading and got upset and never did anything with it.

LOL, some people! They should have just left it for the day to dl the block, and gone out (work, day out, whatever).
finnthecelt
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June 14, 2011, 05:34:34 PM
 #14

I suspect most people would say the same about a digital cryptocurrency.

The client can be set up literally in 20 seconds and you are ready to recieve cash, so even a hippie selling alpaca socks or a site selling beef jerky (just using forum examples) can start their business right away.

negative. The client still needs to d/l the blockchain. This can be a game killer for a lot of users for some reason. Most of the people I've showed it to got impatient with the blockchain downloading and got upset and never did anything with it.

LOL, some people! They should have just left it for the day to dl the block, and gone out (work, day out, whatever).


I'm sure a McD's cheeseburger would work!!!! Fries with that? Hey, while you waited you block chain downloaded. $2.46 pelase.
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June 15, 2011, 01:51:35 AM
 #15

Would it be possible to package the client WITH the current block chain included?
Obviously, it won't be 100% current and would need to be updated periodically, but downloading 2k blocks is a lot quicker than downloading 130k blocks over the P2P.

BTC: 1HkwwvShZWQbW4NZ8qtUBesEQxJ46je2Wa
LTC: LffG9SF9fAxA1MaSUjD2hWaGd8xuTz8H9y
fcmatt
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June 15, 2011, 02:04:18 AM
 #16

Would it be possible to package the client WITH the current block chain included?
Obviously, it won't be 100% current and would need to be updated periodically, but downloading 2k blocks is a lot quicker than downloading 130k blocks over the P2P.


i have seen it discussed before but i never saw any action on the suggestion.
i recently downloaded the client to a new box a few days ago and it took hours.
and that was with a pub IP, fast new box, and a 100mb/s connection to the net...
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June 15, 2011, 02:34:56 AM
 #17

How do I start mining namecoins?? Is it still more profitable than BTC?

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Chucksta
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June 15, 2011, 09:43:26 AM
 #18

How do I start mining namecoins?? Is it still more profitable than BTC?

hell, yes

Just stick the current values in:

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

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

NMC pool - only one... we need more.... getting a LOT of disconnects and miner idle Sad
http://bitparking.com/pool

Buy/Sell NMC
https://exchange.bitparking.com

I think some of the current BTC pools should switch. A hell of a lot of people have already moved from BTC to NMC, and there will be more after today's BTC difficulty increase.

Another thing we need is a trading site that allows for NMC/USD.  The current NMC exchange is for NMC/BTC.

I must admit, I thought I was not going to get my money back on my investment in rigs, lol.... done that, and some Smiley
Thank you NMC Smiley
Sjalq
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June 15, 2011, 10:11:08 AM
 #19

Weigh in on the new dynamics of the second crypto currency.

http://forum.bitcoin.org/index.php?topic=17263.0


Cheesy mine mine mine mine mine mine mine Cheesy
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