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Author Topic: Mining Namecoins is now 2x more profitable than Bitcoins  (Read 52565 times)
forexmasterja
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July 23, 2011, 02:07:14 PM
 #181

at what block number will namecoin change the next difficulty ? and what is the next difficulty estimate ?? And is there a site to monitor this stuff like something similar to www.bitcoinwatch.com ?

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doublec
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July 23, 2011, 02:08:00 PM
 #182

at what block number will namecoin change the next difficulty ? and what is the next difficulty estimate ?? And is there a site to monitor this stuff like something similar to www.bitcoinwatch.com ?

http://dot-bit.org/tools/nextDifficulty.php has the answers you seek.
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July 23, 2011, 02:08:31 PM
 #183

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...
Hopefully before the difficulty came down.

Seriously, some miners REALLY need to brush up their math here:
If you want NMC:
If the price is HIGHER than the ratio of BTC/NMC difficulty, mine NMC.
If the price is LOWER than the ratio of BTC/NMC difficulty, mine BTC and buy NMC.

If you want BTC, it's the other way 'round.

Unless you really need a big chunk of NMC right now because you want to speculate on prices, there's no point in buying NMC right now, that it's cheaper to mine them than BTC.

If you want many miners in NMC:
Buy NMC at a rate that is slightly higher than the BTC/NMC difficulty, to provide arbitrage opportunity for opportunistic miners. This can even create bubbles like the one right now (where people speculate that the price will go up even more, so they pay nearly double the "calculated" price) that gain momentum on itself.
Mining NMC all the time "to save NMC" is plainly stupid and will not help the system at all, it just creates these 2 months/2 days swings that might get more and more extreme over time.

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pennytrader
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July 23, 2011, 02:28:10 PM
 #184

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...
Hopefully before the difficulty came down.

Seriously, some miners REALLY need to brush up their math here:
If you want NMC:
If the price is HIGHER than the ratio of BTC/NMC difficulty, mine NMC.
If the price is LOWER than the ratio of BTC/NMC difficulty, mine BTC and buy NMC.

If you want BTC, it's the other way 'round.

Unless you really need a big chunk of NMC right now because you want to speculate on prices, there's no point in buying NMC right now, that it's cheaper to mine them than BTC.

If you want many miners in NMC:
Buy NMC at a rate that is slightly higher than the BTC/NMC difficulty, to provide arbitrage opportunity for opportunistic miners. This can even create bubbles like the one right now (where people speculate that the price will go up even more, so they pay nearly double the "calculated" price) that gain momentum on itself.
Mining NMC all the time "to save NMC" is plainly stupid and will not help the system at all, it just creates these 2 months/2 days swings that might get more and more extreme over time.


Exactly. I'm happy to sell namecoins I mined to speculators who think the price will go up because of lack of demand (and they could be right actually. nobody knows the future).

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pbj sammich
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July 23, 2011, 03:32:57 PM
 #185

so newb question here...

The difficulty is about to go up in a few hours. I am solo mining, and have been working on my block for hours. When the difficulty goes up will I continue to work on the block I am already working on at the old difficulty or does it instantly jump to the new difficulty? Basically trying to figure out if the difficulty jump and I have not finished the current solo block should I just stop my miners and go back to my bitcoin pool...
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July 23, 2011, 03:34:49 PM
 #186

The difficulty is about to go up in a few hours. I am solo mining, and have been working on my block for hours. When the difficulty goes up will I continue to work on the block I am already working on at the old difficulty or does it instantly jump to the new difficulty? Basically trying to figure out if the difficulty jump and I have not finished the current solo block should I just stop my miners and go back to my bitcoin pool...
The difficulty goes up on a new block, so yes, your miner will start working at the new difficulty.
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July 23, 2011, 03:36:49 PM
 #187

The difficulty is about to go up in a few hours. I am solo mining, and have been working on my block for hours. When the difficulty goes up will I continue to work on the block I am already working on at the old difficulty or does it instantly jump to the new difficulty? Basically trying to figure out if the difficulty jump and I have not finished the current solo block should I just stop my miners and go back to my bitcoin pool...
The difficulty goes up on a new block, so yes, your miner will start working at the new difficulty.

thanks doublec
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July 23, 2011, 04:33:28 PM
 #188

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.


of curse ive done it this was, i startet the .exe file over windows 7 command line. It happened exactly the same.

So, iam still at the same point as 5 hours ago.
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July 23, 2011, 04:54:10 PM
 #189

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

I currently hold 40x more NMC than BTC and thinking about making that gap bigger.
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July 23, 2011, 05:09:03 PM
 #190

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

I currently hold 40x more NMC than BTC and thinking about making that gap bigger.

The question is what's your average cost? Price ratio of NMC/BTC varies drastically over the last 2 months. Even you mine all the coins, it still matters as you can trade them to maximize the number of coins you hold, given the same hashing power.

Guess nobody is holding USD here? lol

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imperi
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July 23, 2011, 05:09:07 PM
 #191

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

I currently hold 40x more NMC than BTC and thinking about making that gap bigger.

I have 6.5k namecoins... I think that's enough. I'm not getting rid of them either. They are incubating gold.
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July 23, 2011, 05:11:44 PM
 #192

the instructions at the beginning seem to be missing something.


How is GUIminer linked to the namecoin exe? There isn't a "create a solo miner" option in GUIMiner. There is a "create solo password" etc.


I think the original author missed a few things in the last few steps. I got the namecoin exe to show up in Windows 7 - but its just blank with a blinking cursor.


I signed up at coinotron pool, put the details into GUIminer (created a new OpenCl miner) - says password/username are wrong.
goxed
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July 23, 2011, 05:13:03 PM
 #193

I am sure you might have done that already, but there's a help page here
http://coinotron.com/coinotron/AccountServlet?action=help

Did you create your workers already?

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miningnew
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July 23, 2011, 05:17:01 PM
 #194

Soon it drops from 2x to 0,5x Smiley

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July 23, 2011, 05:18:47 PM
 #195

As we bring this namecoin party to a close, I think it important to thank the little people who toiled away tirelessly to kill the last difficulty.  And though I will be taking my entire 11.5Gbps back to BTC mining, I look forward to the next namecoin party in two or three months.
pennytrader
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July 23, 2011, 05:27:21 PM
 #196

As we bring this namecoin party to a close, I think it important to thank the little people who toiled away tirelessly to kill the last difficulty.  And though I will be taking my entire 11.5Gbps back to BTC mining, I look forward to the next namecoin party in two or three months.

That's mean Smiley The party will probably come again one more time, before the 24000th namecoin block arrives. After that, it's unknown due to the merged mining.

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Dimsum
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July 23, 2011, 05:29:49 PM
 #197

I am sure you might have done that already, but there's a help page here
http://coinotron.com/coinotron/AccountServlet?action=help

Did you create your workers already?

yeah I created a worker - still doesnt work.
mjoz
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July 23, 2011, 05:31:20 PM
 #198

As we bring this namecoin party to a close, I think it important to thank the little people who toiled away tirelessly to kill the last difficulty.  And though I will be taking my entire 11.5Gbps back to BTC mining, I look forward to the next namecoin party in two or three months.

That's mean Smiley The party will probably come again one more time, before the 24000th namecoin block arrives. After that, it's unknown due to the merged mining.

Sorry I just had one of my blocks rejected and I got a little emotional. 

I think without merge mining, namecoin mining is doomed to these massive mining throughput swings.  Unless of course the prices keep up with the difficulty.

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July 23, 2011, 06:32:00 PM
 #199

how do you transfer some namecoins? can't find any info

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July 23, 2011, 06:53:53 PM
 #200

how do you transfer some namecoins? can't find any info

From your namecoin folder:

namecoind.exe help
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