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Author Topic: Mining Namecoins is now 2x more profitable than Bitcoins  (Read 52552 times)
cryptomint
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July 23, 2011, 01:04:20 AM
 #161

Is solo mining NMC more profitable than mining in a pool with 840 Mhash/sec?

Some things to consider:

  • stale shares, pool vs solo
  • pool connectivity issues
  • pool fees

Luck plays a big factor and variance can be a ruthless beast.

I found 5 blocks in 18 hours
then 0 the next 24 hours with the same hash rate!
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nebiki
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July 23, 2011, 01:26:46 AM
 #162

am i using the right formula?

Quote
time = difficulty * 2**32 / hashrate

divide by time, multiply by hashrate. set time = 120 seconds (that's about the rate atm), difficulty = 23508.

Quote
23508* 2^32 hashes / 120s = 841*10^9 hash/s = 783Ghash/s

that's some sicko network speed.


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July 23, 2011, 02:42:56 AM
 #163

Is solo mining NMC more profitable than mining in a pool with 840 Mhash/sec?

Some things to consider:

  • stale shares, pool vs solo
  • pool connectivity issues
  • pool fees

Luck plays a big factor and variance can be a ruthless beast.

I found 5 blocks in 18 hours
then 0 the next 24 hours with the same hash rate!
man, i got 5 blocks, only 1 got confirmed until today.

i guess i can assume i lost the other 4.
hah.


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July 23, 2011, 03:16:35 AM
 #164

Is solo mining NMC more profitable than mining in a pool with 840 Mhash/sec?

Has been for me.   I was in the pool for 18 hours and got 15 namecoins.  I've been solo mining for about 10 hours and hit a block of 50.   That said, it's all luck so it could take you 5 days to find one (or 10 minutes) Smiley   I'm also running around 800Mhash.

Well, it seems like gambling to me.  Lips sealed I like a steady income, so I'll stick to a pool.  Cheesy

Sure is Smiley   At the rate I was getting in the pool though, you're better off mining bitcoins.

Which pool was that ?

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July 23, 2011, 03:30:41 AM
 #165

I just have one question: why are there some people still mining BTC now? I think they should all switch to namecoin mining for maximizing profits.

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mjoz
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July 23, 2011, 03:52:14 AM
 #166

I just have one question: why are there some people still mining BTC now? I think they should all switch to namecoin mining for maximizing profits.

It's only going to last until sometime tomorrow, then the complexity is going to skyrocket.
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July 23, 2011, 04:06:17 AM
 #167

I just have one question: why are there some people still mining BTC now? I think they should all switch to namecoin mining for maximizing profits.

It's only going to last until sometime tomorrow, then the complexity is going to skyrocket.

I know. But it started since 2 days ago. So at least 3 day's solid profit.

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JohnDoe
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July 23, 2011, 04:49:47 AM
 #168

I know. But it started since 2 days ago. So at least 3 day's solid profit.

If every bitcoin miner had jumped it would have lasted just a few hours.
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July 23, 2011, 04:55:19 AM
 #169

Who is selling and who is holding at the moment? I want some speculation trolls in here.
pennytrader
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July 23, 2011, 05:14:25 AM
 #170

I know. But it started since 2 days ago. So at least 3 day's solid profit.

If every bitcoin miner had jumped it would have lasted just a few hours.

12 hours if just deepbit mines namecoins. Smiley

Personally I feel namecoin is actually better since it has some real value (registering domains), with same full attributes as BTC has. I have to continue to convert it to BTC though as I'm worried the history will repeat, like what happened last time when the difficulty spiked and price fell at the same time.

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imperi
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July 23, 2011, 05:16:14 AM
 #171

I know. But it started since 2 days ago. So at least 3 day's solid profit.

If every bitcoin miner had jumped it would have lasted just a few hours.

Personally I feel namecoin is actually better since it has some real value (registering domains), with full same attributes as BTC has. I have to continue to convert it to BTC though as I'm worried the history will repeat, like what happened last time when the difficulty spiked and price fell at the same time.

Whoa now, let's not call on the trolls to run in...
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July 23, 2011, 05:18:30 AM
 #172

I know. But it started since 2 days ago. So at least 3 day's solid profit.

If every bitcoin miner had jumped it would have lasted just a few hours.

Personally I feel namecoin is actually better since it has some real value (registering domains), with full same attributes as BTC has. I have to continue to convert it to BTC though as I'm worried the history will repeat, like what happened last time when the difficulty spiked and price fell at the same time.

Whoa now, let's not bring the trolls running in...

Again, it's my personal opinion and you don't have to act like a troll to acknowledge anything. What I do with namecoin is irrelevant to where the market will go.

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July 23, 2011, 05:23:28 AM
 #173

I agree with you. I am saying that there's some people here who invest 100% in Bitcoin and 0 in Namecoin, and this topic makes them feel insecure and sometimes emotional. Just saying it could ruin the thread.
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July 23, 2011, 05:42:14 AM
 #174

Is solo mining NMC more profitable than mining in a pool with 840 Mhash/sec?

Some things to consider:

  • stale shares, pool vs solo
  • pool connectivity issues
  • pool fees

Luck plays a big factor and variance can be a ruthless beast.

I found 5 blocks in 18 hours
then 0 the next 24 hours with the same hash rate!
Same thing here, I'm mining at ~ 780 mh/s and I found 2 blocks in the first hour I started (about 46 hours ago)  I haven't found another one since.  Hopefully my luck will change overnight.  I'd say go for it though. With 24 hours left your chances of finding 2 blocks are the same as finding none. Worst that could happen is you lose a day of mining...

ASICPuppy.net ASIC Mining Hardware and Accessories - GekkoScience DL580 Breakout Boards are In Stock!
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July 23, 2011, 06:18:27 AM
 #175

For now, i decided to pool.

my not so good calculations tells me that i can get around 1 block worth of coins daily, which is not too far off from what i'm getting right now.


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July 23, 2011, 07:06:27 AM
 #176

Who is selling and who is holding at the moment? I want some speculation trolls in here.

I only sell a small amount of Namecoins to pay for electricity.I keep about 70% of them in my wallet and let them sit there for a year.

Thought about that, electricity for 3-4 days? I'll just keep them...

Think about next year... Merged mining will be the standard, so Namecoin difficulty will be sky high, price may go up 3 times or more...

It will never again be so easy to mine Namecoins as it is now... So I guess keeping them is the best thing to do... I even bought 455 NC as an investment...
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July 23, 2011, 07:17:31 AM
 #177

It will never again be so easy to mine Namecoins as it is now... So I guess keeping them is the best thing to do... I even bought 455 NC as an investment...
If you're mining for the namecoins it will be a lot harder, but if you're mining for bitcoins it will be a lot easier. Over all it's the same.
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July 23, 2011, 01:49:27 PM
 #178

seems like mining namecoins is too high for me.

At first, i dont really understand the system, but that doesnt matter i think.

I try to mine nmc, but iam failing at the early beginning.
i downloaded the .exe file and startet it, but the command line which appears ist only vieable for about 5 sec (black), then it closes itself. I gues this is my first problem?

Then, i createt die namecoin.conf file somewhere in "appdata", iam not sure whether it is right or not, i changed nothing in this file, but i need to fill in my username + password right?
Where can i registrate to get these user datas?

Is there any existing toturial about how to mine/use namecoins?
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July 23, 2011, 01:52:55 PM
 #179

seems like mining namecoins is too high for me.

At first, i dont really understand the system, but that doesnt matter i think.

I try to mine nmc, but iam failing at the early beginning.
i downloaded the .exe file and startet it, but the command line which appears ist only vieable for about 5 sec (black), then it closes itself. I gues this is my first problem?

Then, i createt die namecoin.conf file somewhere in "appdata", iam not sure whether it is right or not, i changed nothing in this file, but i need to fill in my username + password right?
Where can i registrate to get these user datas?

Is there any existing toturial about how to mine/use namecoins?


It's a command line application so if there's any error you won't be able to see it like that.
What you should do is open a command window, usually typing CMD into your Start menu search box and hitting enter would do.

You should get a black console/command window. Then, I would CD to the correct folder but might get complicated, so just type in the full path to your namecoind.exe to run it and see what's the problem.

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July 23, 2011, 02:04:45 PM
 #180

edited, nvm...

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