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Author Topic: Earn 13% more mining income with namecoins  (Read 10429 times)
DrHaribo
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April 03, 2013, 06:29:05 PM
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Namecoin difficulty is 1/6th of Bitcoin difficulty. Namecoins are currently 50 coins per block versus 25 for Bitcoin. So in a merged mining pool you should on average make 12 namecoins for every bitcoin you mine. Namecoins are selling for 0.011 BTC now, see for example the btc-e exchange

12 x 0.011 = 0.132

Yes, you earn 13% extra on a merged mining pool. Shocked

Try BitMinter today!  Cool No fees, donations optional. Income from transaction fees are also paid out for an additional 1% to 2% extra.

If you are losing 14-15% at your current pool PLUS paying fees on top of that, you may want to reconsider. Total fees 15-20% ? Just say no.

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April 04, 2013, 06:16:33 AM
 #2

I prefer http://mmpool.bitparking.com

It's simple, stable and you also merge-mine Ixcoin and Devcoin.
Bitminter is giving me higher stales / rejects and much more offline-time, so I would advice everyone to use mmpool for merged mining.

Got to admit: BitMinter has a better look and feel, but I don't care about looks, I care about performance and profitability.

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DrHaribo
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April 04, 2013, 09:21:36 AM
 #3

Got to admit: BitMinter has a better look and feel, but I don't care about looks, I care about performance and profitability.

Bitparking has a 2.5% fee, plus not paying transaction fees. That's a total fee of 3.5% to 4.5%. Seems a bit steep.

How high stales did you get on BitMinter? There are some getwork users with unstable net connections that pull up the poolwide average to 0.4% or even sometimes 0.5%, but if you use Stratum and have a stable internet connection I'd expect you would have very few stales. This is a highly optimized and tuned mining backend that used to be the favorite for GPUmax to run leases on. Even a 1.5 TH/s lease ran completely smoothly with getwork without var diff or rollntime (this was in the olden days).

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lassdas
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April 04, 2013, 10:20:00 AM
 #4

Got to admit: BitMinter has a better look and feel, but I don't care about looks, I care about performance and profitability.

Bitparking has a 2.5% fee, plus not paying transaction fees. That's a total fee of 3.5% to 4.5%. Seems a bit steep.
At current exchange-rates, the extra dev- and ixcoins you merge-mine on Bitparking give you an extra ~4.5% to compensate for the fee pretty well,
plus it's a PPS-Pool, so you know exactly what you get and when you get it.

Just sayin', I used to mine on BitMinter for a while too, but have been on Bitparking now for months and didn't regret it yet.
DrHaribo
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April 04, 2013, 10:56:50 AM
 #5

That's interesting.

I never liked the centralized part of Devcoin, one guy deciding which developers get how much. Or did I misunderstand that? And I thought Ixcoin was just a premine scam.

But if people are paying that much for them, they're worth selling.

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April 04, 2013, 11:02:14 AM
 #6

That's interesting.

I never liked the centralized part of Devcoin, one guy deciding which developers get how much. Or did I misunderstand that? And I thought Ixcoin was just a premine scam.

But if people are paying that much for them, they're worth selling.


I think vircurex is the only place they're traded on.   Looks like they're around the same price they were back when I was using p2pool.  It wouldn't be enough to offset a 4% fee.  Maybe an extra 1 or 2%.

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April 04, 2013, 11:59:15 AM
 #7

Bitparking has a 2.5% fee, plus not paying transaction fees. That's a total fee of 3.5% to 4.5%. Seems a bit steep.
PPS pools are slightly more risky for the operator than PPLNS. Without a fee, or even a low fee, the risk of bankruptcy is insanely high - I don't know how the Mt Red's of the world do it. I don't know how you do it either with PPLNS - I assume you get enough donations to make it viable? People mine in pools for different reasons and I'm sure most anyone has backup pools set anyway so I'm all for people picking and choosing their pools however they want. If you don't like a pools fees, payout method, or presentation, mine somewhere else or even solo. That's the nice thing about bitcoin. So much choice.
DrHaribo
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April 04, 2013, 02:44:42 PM
 #8

I think vircurex is the only place they're traded on.   Looks like they're around the same price they were back when I was using p2pool.  It wouldn't be enough to offset a 4% fee.  Maybe an extra 1 or 2%.

Yeah, looking at vircurex the income from devcoin and ixcoin is far from 4.5%. As you say it is more like 1% or 2%. I'm still surprised that they give you something. It's also surprising that Ixcoin is worth more than Devcoin. I may not agree with how devcoin works, but at least it has a purpose.

If you don't like a pools fees, payout method, or presentation, mine somewhere else or even solo.

Absolutely. That's why I think it is necessary for people to know what the real fees are. And of course what the features are, etc. When Mt.Red say they are zero fee they are actually honest. But many pools talk about 100% PPS, or 98% PPS and they pretend like income from transaction fees doesn't exist. That's not honest and transparent. How can miners then make an informed decision on which pool to mine on?

When transaction fees go as high as 10% of the income, will they still talk about 98% PPS and pretend like you are paying a 2% fee when actually you are paying 12% ?

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April 04, 2013, 02:47:51 PM
 #9

Namecoin difficulty is 1/6th of Bitcoin difficulty. Namecoins are currently 50 coins per block versus 25 for Bitcoin. So in a merged mining pool you should on average make 12 namecoins for every bitcoin you mine. Namecoins are selling for 0.011 BTC now, see for example the btc-e exchange

12 x 0.011 = 0.132

Yes, you earn 13% extra on a merged mining pool. Shocked

Try BitMinter today!  Cool No fees, donations optional. Income from transaction fees are also paid out for an additional 1% to 2% extra.

If you are losing 14-15% at your current pool PLUS paying fees on top of that, you may want to reconsider. Total fees 15-20% ? Just say no.


Practically speaking, what's going on with namecoin? Is the DNS part dead and now it's just an altcoin? No commits to the code in 10 months, no project news in 5.

I loved the idea of it, wish it would catch on
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April 04, 2013, 04:12:53 PM
 #10

Namecoin difficulty is 1/6th of Bitcoin difficulty. Namecoins are currently 50 coins per block versus 25 for Bitcoin. So in a merged mining pool you should on average make 12 namecoins for every bitcoin you mine. Namecoins are selling for 0.011 BTC now, see for example the btc-e exchange

12 x 0.011 = 0.132

Yes, you earn 13% extra on a merged mining pool. Shocked

Try BitMinter today!  Cool No fees, donations optional. Income from transaction fees are also paid out for an additional 1% to 2% extra.

If you are losing 14-15% at your current pool PLUS paying fees on top of that, you may want to reconsider. Total fees 15-20% ? Just say no.


Practically speaking, what's going on with namecoin? Is the DNS part dead and now it's just an altcoin? No commits to the code in 10 months, no project news in 5.

I loved the idea of it, wish it would catch on

nothing, afaik.  it looks like someone either a) doesnt have a clue and decided to just buy every altcoin in existence, or b) did a damn good job of manipulating the market, if they've been accumulating these altcoins and then started this run

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April 04, 2013, 05:01:50 PM
 #11

Got to admit: BitMinter has a better look and feel, but I don't care about looks, I care about performance and profitability.

Bitparking has a 2.5% fee, plus not paying transaction fees. That's a total fee of 3.5% to 4.5%. Seems a bit steep.


Seems like the profitability of mining at either BitMinter or Bitparking is switching back and forth. I moved over to Bitparking when I noticed DVC and IXC both added about +10%. That returned to just a a few extra percent pretty quickly, and now I'm back at BitMinter. However, today DVC + IXC again add about +5%. I believe +4% or more makes Bitparking more profitable: 2.5% covers the pool fee, while 1.5% should cover the exclusion of transaction fees from block reward.

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April 04, 2013, 06:27:24 PM
 #12

I have about 0.1% rejeted on bitminter getwork. It's The best work of any pool I tried.

Thanks on good job DrHaribo!

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April 04, 2013, 06:35:38 PM
 #13

Namecoin difficulty is 1/6th of Bitcoin difficulty. Namecoins are currently 50 coins per block versus 25 for Bitcoin. So in a merged mining pool you should on average make 12 namecoins for every bitcoin you mine. Namecoins are selling for 0.011 BTC now, see for example the btc-e exchange

12 x 0.011 = 0.132

Yes, you earn 13% extra on a merged mining pool. Shocked

Try BitMinter today!  Cool No fees, donations optional. Income from transaction fees are also paid out for an additional 1% to 2% extra.

If you are losing 14-15% at your current pool PLUS paying fees on top of that, you may want to reconsider. Total fees 15-20% ? Just say no.

does merged mining work with Stratum?
DrHaribo
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April 04, 2013, 07:01:10 PM
 #14

Welcome all new guys! We were about 2900 people mining this morning, and now it's 3200 people mining at BitMinter at the moment.  Grin 10% more active users in less than a day.

I have about 0.1% rejeted on bitminter getwork. It's The best work of any pool I tried.

Thanks on good job DrHaribo!

Thank you Smiley Wow 0.1% rejects with getwork is very good!

does merged mining work with Stratum?

Sure, why wouldn't it. BitMinter does merged mining whether you use Stratum, GBT or getwork.

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April 04, 2013, 07:13:32 PM
 #15

does merged mining work with Stratum?

Only the most 1337 pools ops can make it work.

BitMinter and BitParking do it.


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