[4+ EH] Slush Pool (slushpool.com); Overt AsicBoost; World First Mining Pool

[Iyeman]

a) Pool already mined over 10000 Namecoins (and it is going up in very fast rate, see NMC stats. I'll start giving away those coins to pool's Namecoin miners after few days using their proportional hashpower. First namecoin miners actively mining on pool may expect really big namecoin rewards.

Do you mean the hash power we're putting in now, or when you start giving them out? If it's the latter it seems it would be better for me to use a pool that is already giving them out and come back to you later?

looks like currently a tad over 17k NMC mined. (343 blocks according to stats page.)

[Grinder]

looks like currently a tad over 17k NMC mined. (343 blocks according to stats page.)

I'm not asking how much he's collecting, I'm asking exactly how he will divide between the users. Apparently there is no accounting for each block like there is with bitcoins.

[DeathAndTaxes]

looks like currently a tad over 17k NMC mined. (343 blocks according to stats page.)

I'm not asking how much he's collecting, I'm asking exactly how he will divide between the users. Apparently there is no accounting for each block like there is with bitcoins.

Well a crude accounting would be to group all namecoin blocks found between bitcoinblocks to that bitcoin block.

i.e.
block 124  had 7 namecoin blocks
block 125 had 14 namecoin blocks
block 126 had 0 namecoin blocks
block 127 had 1 namecoin block.

Then simply use standard method of splitting the bitcoin block to also split the namecoin block.

Not saying this IS what slush will do just pointing out a moderately fair distribution isn't that difficult.  Would be nice to get some clarification from slush though.

[Iyeman]

looks like currently a tad over 17k NMC mined. (343 blocks according to stats page.)

I'm not asking how much he's collecting, I'm asking exactly how he will divide between the users. Apparently there is no accounting for each block like there is with bitcoins.

And I wasn't answering you, i was posting an update to  the 10k figure in your quote. I'm staying here because you don't really know when he will implement the accounting and we start getting paid. (unless you spend all day monitoring the thread.)

[slush]

Not saying this IS what slush will do just pointing out a moderately fair distribution isn't that difficult.  Would be nice to get some clarification from slush though.

Yes, I'll use similar method for already mined namecoins. I'll definitely look in history how much user mined for pool since merged mining started.

[322i0n]

I just started using this pool, I had previously gave up using it because i could not keep track of what i was being paid for my shares. but i am interested again because the pool is offereing merged mining and i am interested in namecoin.

Is there a way that i can see my lifetime shares. or how can i work out what i am paid on average per share over x number of shares?
not knowing this puts me off mining here.

[digital]

Sweet, now we just need to ad Ixcoin, I0coin, Solidcoin, tenebrix, Fairbrix, Encoin, and litecoin to the pool!



Ok, before I get mutilated in this thread I WAS JUST KIDDING.  I didn't have much interest in Namecoin either, but I figured since I can at least trade 'em for btc I might as well take advantage...

[Grinder]

As expected, the NMC price is crashing. The guys mining at the other pools are probably selling as quickly as they can before the market is flooded by this pool.

[Thndr]

As expected, the NMC price is crashing. The guys mining at the other pools are probably selling as quickly as they can before the market is flooded by this pool.

Bound to happen, too many coins are being mined. It happened with bitcoin, but bitcoin also got some news and become a flavor of the month to raise the price later.

Any word on when the pool will start processing rewards? I know that the delay lets the early early adopters change over to bitcoin while the currency inflates.

[DeathAndTaxes]

As expected, the NMC price is crashing. The guys mining at the other pools are probably selling as quickly as they can before the market is flooded by this pool.

I wonder if it would be better for Slush to simply sell the namecoins as they are mined and pay us proportionally in BTC.  Otherwise by the time we finally get some NMC it will be 100,000 NMC : 1 BTC.

[Thndr]

As expected, the NMC price is crashing. The guys mining at the other pools are probably selling as quickly as they can before the market is flooded by this pool.

I wonder if it would be better for Slush to simply sell the namecoins as they are mined and pay us proportionally in BTC.  Otherwise by the time we finally get some NMC it will be 100,000 NMC : 1 BTC.

Then you just keep your nmc wallet and forget about it for a few months, and let deflation work it's way.

There however needs to be more services for namecoin with this sudden influx, or a difficulty reset based on mining so we don't go through a couple months worth of blocks in 1 week.

[slush]

Any word on when the pool will start processing rewards?

I had some unexpected stuff today (not Bitcoin related), so I didn't work on this today, my bad. But I know people are waiting on it, I'll finish rewarding system tomorrow.

[Iyeman]

As expected, the NMC price is crashing. The guys mining at the other pools are probably selling as quickly as they can before the market is flooded by this pool.

I wonder if it would be better for Slush to simply sell the namecoins as they are mined and pay us proportionally in BTC.  Otherwise by the time we finally get some NMC it will be 100,000 NMC : 1 BTC.

Then you just keep your nmc wallet and forget about it for a few months, and let deflation work it's way.

There however needs to be more services for namecoin with this sudden influx, or a difficulty reset based on mining so we don't go through a couple months worth of blocks in 1 week.

as opposed to the weeks worth that took 3 months.

Im looking forward to being able to pick up a bunch more NMC for the cheap.  Once the difficulty lvls out the price will recover.

[sadpandatech]

There however needs to be more services for namecoin with this sudden influx, or a difficulty reset based on mining so we don't go through a couple months worth of blocks in 1 week.

I agree, though there is a service available to register .bit domains. Might have to drag the topics on it and other services up form the depths.

as opposed to the weeks worth that took 3 months.

Im looking forward to being able to pick up a bunch more NMC for the cheap.  Once the difficulty lvls out the price will recover.

 Ayee, agreed. It will be quite the opposite of couple months of 1 week blocks. With this in mind;

Last 120   19617-19737 11/10/2011 08:33 157'459.13   x1.67

Last 10    19727-19737 11/10/2011 19:18 131'856.84    x1.40

Next            20160      13/10/2011 14:36 23'508.98      x0.25

  If it actually does still drop to the 23,508 dif, with current merged mining it will not be a repeat of last time, quick pump and drop out at dif change. It will change up very quickly, and will continue to do so quite rapidly until the balance is hit. Atleast thats the game plan as far as I can summize. ;p

[mb300sd]

Anyone know what time zone hes in? Whens "tomorrow"? looking forward to getting these namecoins before their worthless...

[DeathAndTaxes]

Any word on when the pool will start processing rewards?

I had some unexpected stuff today (not Bitcoin related), so I didn't work on this today, my bad. But I know people are waiting on it, I'll finish rewarding system tomorrow.

Hopefully there will still be buyers left to sell into then the bids are going fast at the bitparking exchange from the rate it is going be lucky to sell them for .01 then....

Slush just sell the current stockpile.  If is highly unlikely in the short term prices will be higher.  Anyone who actually wants NMC could likely buy even more with the BTC you distribute from the sale.

Supply is going to far outstrip demand in the short term.  Converting NMC to BTC preserves the value of those coins.  Once the realtime distribution of NMC is ready future NMC rewards could be directly distributed.

Just please consider a one time sale of current stockpile.  It is already worth 35% less than it was yesterday.  With hundreds of thousands of new coins coming into supply every day the price isn't going to go up.  A delay simply devalues the reward.

[Iyeman]

Any word on when the pool will start processing rewards?

I had some unexpected stuff today (not Bitcoin related), so I didn't work on this today, my bad. But I know people are waiting on it, I'll finish rewarding system tomorrow.

Hopefully there will still be buyers left to sell into then the bids are going fast at the bitparking exchange from the rate it is going be lucky to sell them for .01 then....

Slush just sell the current stockpile.  If is highly unlikely in the short term prices will be higher.  Anyone who actually wants NMC could likely buy even more with the BTC you distribute from the sale.

Supply is going to far outstrip demand in the short term.  Converting NMC to BTC preserves the value of those coins.  Once the realtime distribution of NMC is ready future NMC rewards could be directly distributed.

Just please consider a one time sale of current stockpile.  It is already worth 35% less than it was yesterday.  With hundreds of thousands of new coins coming into supply every day the price isn't going to go up.  A delay simply devalues the reward.

not everyone plans on selling there coins, by dumping over 20k coins on the exchange it will drop the price. whereas if only half the people want to sell the 20k the price would only drop to .15 thus YOU make more BTC because the portion you have will be worth more.  While the people holding  onto their portion if the 20+k wait for the price to go back up before selling and make even more profit.

Considering NMC is a bonus to mining and not needed to "break even" selling at these low prices is stupid. but just like BTC and the stock market, investors need stupid people to sell low and buy high lol....so sell sell sell your coins so i can buy buy buy and resell in 6-12 months at a much better profit. or open a .bit registration site lol in a month or 2 ill have enough to register a few thousand domains.

[Iyeman]

Any word on when the pool will start processing rewards?

I had some unexpected stuff today (not Bitcoin related), so I didn't work on this today, my bad. But I know people are waiting on it, I'll finish rewarding system tomorrow.

Hopefully there will still be buyers left to sell into then the bids are going fast at the bitparking exchange from the rate it is going be lucky to sell them for .01 then....

Slush just sell the current stockpile.  If is highly unlikely in the short term prices will be higher.  Anyone who actually wants NMC could likely buy even more with the BTC you distribute from the sale.

Supply is going to far outstrip demand in the short term.  Converting NMC to BTC preserves the value of those coins.  Once the realtime distribution of NMC is ready future NMC rewards could be directly distributed.

Just please consider a one time sale of current stockpile.  It is already worth 35% less than it was yesterday.  With hundreds of thousands of new coins coming into supply every day the price isn't going to go up.  A delay simply devalues the reward.

not everyone plans on selling there coins, by dumping over 20k coins on the exchange it will drop the price. whereas if only half the people want to sell the 20k the price would only drop to .15 thus YOU make more BTC because the portion you have will be worth more.  While the people holding  onto their portion if the 20+k wait for the price to go back up before selling and make even more profit.

Considering NMC is a bonus to mining and not needed to "break even" selling at these low prices is stupid. but just like BTC and the stock market, investors need stupid people to sell low and buy high lol....so sell sell sell your coins so i can buy buy buy and resell in 6-12 months at a much better profit. or open a .bit registration site lol in a month or 2 ill have enough to register a few thousand domains.

There worth nothing if they are not in your wallet so no bonus at all yet and how about we get to decide what to do with them if you want to sell sell if not don't but kind of hard to do if you do not have them. BTW if you have not noticed since the first of these coins has been mined the price has gone from .025 down to damn near .015 and continuing to sell down there are next to no fresh buy bids happening so it is only going to go lower as more people sell.

yeah technically the price has dropped from .031 a week ago to currently .016 with a low of .0155 but there are pretty solid wall at .013 Im hoping a lot of folks sell so i can get the NMC from mining and dump my BTC into buying NMC cheap.

(But I support the idea behind namecoin and taking DNS out of the control of governments...)

[sadpandatech]

yeah technically the price has dropped from .031 a week ago to currently .016 with a low of .0155 but there are pretty solid wall at .013 Im hoping a lot of folks sell so i can get the NMC from mining and dump my BTC into buying NMC cheap.

(But I support the idea behind namecoin and taking DNS out of the control of governments...)

Whether you support it or not has nothing to do with it and it is not technical at all the damn price has and continues to drop on these things every damn day that goes buy is BTC lost are you going to make that up or for that matter Slush going to do it I highly doubt it.

you. no. know. how. to. watch. future. price. verse. 1:1. peep out the dif chart at dot-bit. That is what namecoin traders have been buying and selling namecoins at before the big crash, based on the near future value. Without doing everyones home work for them I will just leave it at;
 Please just let me have my Namecoins. ;p

[DeathAndTaxes]

not everyone plans on selling there coins, by dumping over 20k coins on the exchange it will drop the price. whereas if only half the people want to sell the 20k the price would only drop to .15 thus YOU make more BTC because the portion you have will be worth more.  While the people holding  onto their portion if the 20+k wait for the price to go back up before selling and make even more profit.

If you don't want to sell NMC then Slush selling them is the BEST thing for you.  Why?  Rather than be paid in NMC which have a high probability of being lower in price by the time you get them you are paid in BTC which can now buy MORE NMC.

For example hindsight being 20-20 had NMC been sold 36 hours ago you could buy 35% more NMC from the BTC it generated.hose BTC to buy NMC back.

Considering NMC is a bonus to mining and not needed to "break even" selling at these low prices is stupid. but just like BTC and the stock market, investors need stupid people to sell low and buy high lol....

The current price isn't low.  the price 36 hours ago (35% higher) certainly wasn't low.  The price will go much much much lower as demand for NMC will be massively outstripped by supply.   Currently namecoin has only ~20% of the hashing power of bitcoin.  There is no high barrier to entry (yeah the code sucks but it is a onetime cost).  Eventually every pool will merge mine.  With time merge mining will be integrated into the open source pool servers and new pools will start w/ merge mining.   Given only 20% of the network is hashing NMC now, expect daily supply to increase another 500% before difficulty finally catches up.

It wouldn't surprise me if prices fell another 50%+.  Having BTC to buy there would be more profitable then having NMC that continually decline in value even IF the long term goal is to hold NMC.  Eventually equilibrium will be reached but if you think we are their now well god I hope your stock portfolio is professionally managed.