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Author Topic: Mining Namecoins is now 2x more profitable than Bitcoins  (Read 52618 times)
m3ta
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July 26, 2011, 08:07:12 AM
 #281


Right but I can only go on the data I have and that is the time since inception and the number of blocks generated.

Make sense?

Oh, indeed it does make sense, you have to consider the raw data you have at any given point in time, albeit still very.. hm...  'volatile', due to still being not very far away from its inception.

Still on namebit:

Current Round Duration      35h 35m
Last Round Duration        00h 19m
Avg Time Per Round            03h 25m

As soon as this hog finishes, there goes the average down the drain.. Smiley

Why the frell so many retards spell "ect" as an abbreviation of "Et Cetera"? "ETC", DAMMIT! http://en.wikipedia.org/wiki/Et_cetera

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July 26, 2011, 12:01:05 PM
 #282


Right but I can only go on the data I have and that is the time since inception and the number of blocks generated.

Make sense?

Oh, indeed it does make sense, you have to consider the raw data you have at any given point in time, albeit still very.. hm...  'volatile', due to still being not very far away from its inception.

Still on namebit:

Current Round Duration      35h 35m
Last Round Duration        00h 19m
Avg Time Per Round            03h 25m

As soon as this hog finishes, there goes the average down the drain.. Smiley

You are looking at ONE pool and I am looking at the ENTIRE namecoin network. There are other pools you know...bitparking, pool munity etc.

Take a look at http://explorer.dot-bit.org/ and then come talk to me.

███████████████████████████████████████

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LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
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July 26, 2011, 12:12:19 PM
 #283


Right but I can only go on the data I have and that is the time since inception and the number of blocks generated.

Make sense?

Oh, indeed it does make sense, you have to consider the raw data you have at any given point in time, albeit still very.. hm...  'volatile', due to still being not very far away from its inception.

Still on namebit:

Current Round Duration      35h 35m
Last Round Duration        00h 19m
Avg Time Per Round            03h 25m

As soon as this hog finishes, there goes the average down the drain.. Smiley

You are looking at ONE pool and I am looking at the ENTIRE namecoin network. There are other pools you know...bitparking, pool munity etc.

Take a look at http://explorer.dot-bit.org/ and then come talk to me.

Let me spell it out for you. We are currently at block 18255 on july 26th.

It has been about 98 days or so since the namecoin network starting.

98 days = 2352 hours


18255 / 2352 = 7.76 blocks per hour


Let's say this difficulty period doesnt end for another 40 days (138 days total):

138 days = 3312 hours

The last block of this difficulty is 18144 + 2016 = 20160

20160 / 3312 = 6.08 blocks per hour.


Then of course we rip through another difficulty of 2016 blocks which brings the average up.

My point is even if we assume any average above 6 blocks per hour from now until the end of the year that
implies a huge movement in the decrease (price) of purchasing a domain name and possibly the price to exchange
NMC.

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
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           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
m3ta
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July 26, 2011, 12:15:02 PM
 #284

You are looking at ONE pool and I am looking at the ENTIRE namecoin network. There are other pools you know...bitparking, pool munity etc.

There are not that many.
The birth and death of pools IS important in the start. I hope this is not how you treat your children.

Take a look at http://explorer.dot-bit.org/ and then come talk to me.

Take some time to go back to school, learn some manners, lose the attitude, "and then come talk to me".
If you can't take an opinion that diverges from yours in a polite manner, then it is me who turns my back on you, as i'm way above that sort of behaviour (this is me trying to be as cocky as you. Did i succeed? not sure, i'm not used to it).
Xoo.

Why the frell so many retards spell "ect" as an abbreviation of "Et Cetera"? "ETC", DAMMIT! http://en.wikipedia.org/wiki/Et_cetera

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July 26, 2011, 12:21:08 PM
 #285

You are looking at ONE pool and I am looking at the ENTIRE namecoin network. There are other pools you know...bitparking, pool munity etc.

There are not that many.
The birth and death of pools IS important in the start. I hope this is not how you treat your children.

Take a look at http://explorer.dot-bit.org/ and then come talk to me.

Take some time to go back to school, learn some manners, lose the attitude, "and then come talk to me".
If you can't take an opinion that diverges from yours in a polite manner, then it is me who turns my back on you, as i'm way above that sort of behaviour (this is me trying to be as cocky as you. Did i succeed? not sure, i'm not used to it).
Xoo.


LOL did you even look at the link I posted and respond intelligently to what I posted that proves your "theory"wrong of the average going down the toilet when at the very least the average is 6 blocks per hour?

Or did you not want to be embarrassed that you were wrong?

Also the number of pools is irrelevant which is why I gave you the link to block explorer.

If you dont like the way I talk to you, you can go to another thread you know?

LOL

 Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin

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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
JohnDoe
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July 26, 2011, 12:46:54 PM
 #286

Most are redirects.
Many are incorrectly configured.

And then there's the "i'll reserve this good .bit domain, if you want it, make me an offer" that I completely frown upon, as it represents the 'hoarding' and speculation that the whole NMC project is supposed to avoid.
bitcoiner hating on namecoin ... could there be anybody sadder?

Well, he's right. But that doesn't mean much as the project is 3 months old. Having already a successful .bit only site would be extremely surprising.
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July 26, 2011, 04:32:31 PM
 #287

off the top of my head ...

http://dot-bit.bit/
http://example.bit/
http://opennic.bit/

there are others ... of course you will have to be smart enough to know how to enable your browser/system/network to get to them ... it is not idiot-proof, yet.


Which is precisely my point. For somebody like me, it's an easy thing to do (I use my own internal TLD for testing purposes). But until a .bit domain can be resolved out of the box by the average person, I don't see it being useful except as an alternative Bitcoin currency.

So regardless of the original intentions, namecoin will simply become a second supply of bitcoin, especially when merged mining take effect.

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July 26, 2011, 06:28:33 PM
 #288

off the top of my head ...

http://dot-bit.bit/
http://example.bit/
http://opennic.bit/

there are others ... of course you will have to be smart enough to know how to enable your browser/system/network to get to them ... it is not idiot-proof, yet.


Which is precisely my point. For somebody like me, it's an easy thing to do (I use my own internal TLD for testing purposes). But until a .bit domain can be resolved out of the box by the average person, I don't see it being useful except as an alternative Bitcoin currency.

So regardless of the original intentions, namecoin will simply become a second supply of bitcoin, especially when merged mining take effect.


You are right in my opinion, which is why there is further development for namecoin to be done. I suspect the majority of the development will not take more than 6 to 9 months to get up to speed. Bitcoin has given namecoin a handicap in that much of the ideas and market and people are in places to make bitcoin and namecoin explode soon enough.

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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
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July 26, 2011, 06:46:49 PM
 #289

You are right in my opinion, which is why there is further development for namecoin to be done. I suspect the majority of the development will not take more than 6 to 9 months to get up to speed. Bitcoin has given namecoin a handicap in that much of the ideas and market and people are in places to make bitcoin and namecoin explode soon enough.

Maybe it's just me and my limited imagination but at this point I feel it's very unlikely for namecoin to work out as intended beyond use for a small group of people, namely geeks.

The way I see it, we'll need to convince ISPs to do extra work for no benefits to them (i.e. to their profits) in order for this to work. But if this requires ISP cooperation to work, then namecoin's strength as a resilient distributed DNS vanishes as it is reliant on ISPs cooperation. So any ISP (or the government of that country) can simply block off lookups to a particular domain say wikileaks.bit and render the service useless to the majority of their users who probably never heard of DNS, much less know/bother to get around such blocks.

There is one possible way namecoin could work out (and for that matter bitcoin could get boosted by the same), is the porn industry. After all, people are willing to pay money, install dubious dialers and whatever not to get their porn fix, they will probably be willing to do something that doesn't cost anything to get access to more porn, and pay for content with bitcoins so anybody looking at their CC bills won't be able tell Cheesy

p.s. side note: dot-bit.org seems to be dead, not a good sign Cheesy

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July 26, 2011, 06:49:02 PM
 #290

What would be the best tactic to buy 25,000 - 30,000 Namecoins without moving the price up to high?
Spread out over a longer time? Or place a big order at a fixed price? Many orders at different prices?
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July 26, 2011, 06:56:04 PM
 #291

What would be the best tactic to buy 25,000 - 30,000 Namecoins without moving the price up to high?
Spread out over a longer time? Or place a big order at a fixed price? Many orders at different prices?
So you want to buy more than 3% of all the namecoin economy without moving the price?

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
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July 26, 2011, 06:57:37 PM
 #292

What would be the best tactic to buy 25,000 - 30,000 Namecoins without moving the price up to high?
Spread out over a longer time? Or place a big order at a fixed price? Many orders at different prices?
So you want to buy more than 3% of all the namecoin economy without moving the price?

Not to much, no.
You think I better be patient and spread over 2 or 3 weeks?
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July 26, 2011, 07:02:37 PM
 #293

What would be the best tactic to buy 25,000 - 30,000 Namecoins without moving the price up to high?
Spread out over a longer time? Or place a big order at a fixed price? Many orders at different prices?
So you want to buy more than 3% of all the namecoin economy without moving the price?

Not to much, no.
You think I better be patient and spread over 2 or 3 weeks?
On Bitparking the volume is currently about 12k, I think that buying about 1k a day won't move much the price if you use the different namecoin exchanges (I believe there are 3 of them)
If so, yes, 3 weeks should be enough

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
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July 26, 2011, 07:08:35 PM
 #294

What would be the best tactic to buy 25,000 - 30,000 Namecoins without moving the price up to high?
Spread out over a longer time? Or place a big order at a fixed price? Many orders at different prices?
So you want to buy more than 3% of all the namecoin economy without moving the price?

Not to much, no.
You think I better be patient and spread over 2 or 3 weeks?
On Bitparking the volume is currently about 12k, I think that buying about 1k a day won't move much the price if you use the different namecoin exchanges (I believe there are 3 of them)
If so, yes, 3 weeks should be enough

Ok, thanks.
I want to hedge a little (mining 2.2Mh@BTCMine / .8 Mh@Poolmunity, buy BTC, buy NMC).

Stockmarket didn't bring me much last year... Can only get better...
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July 26, 2011, 07:38:02 PM
 #295

I don't know if anyone knows this or not but to make dealing with namecoins easier I found this nifty gui program that maybe more newbie friendly.

If you believe this post has helped,please donate-

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July 26, 2011, 08:20:46 PM
 #296

You are right in my opinion, which is why there is further development for namecoin to be done. I suspect the majority of the development will not take more than 6 to 9 months to get up to speed. Bitcoin has given namecoin a handicap in that much of the ideas and market and people are in places to make bitcoin and namecoin explode soon enough.

Maybe it's just me and my limited imagination but at this point I feel it's very unlikely for namecoin to work out as intended beyond use for a small group of people, namely geeks.

The way I see it, we'll need to convince ISPs to do extra work for no benefits to them (i.e. to their profits) in order for this to work. But if this requires ISP cooperation to work, then namecoin's strength as a resilient distributed DNS vanishes as it is reliant on ISPs cooperation. So any ISP (or the government of that country) can simply block off lookups to a particular domain say wikileaks.bit and render the service useless to the majority of their users who probably never heard of DNS, much less know/bother to get around such blocks.

There is one possible way namecoin could work out (and for that matter bitcoin could get boosted by the same), is the porn industry. After all, people are willing to pay money, install dubious dialers and whatever not to get their porn fix, they will probably be willing to do something that doesn't cost anything to get access to more porn, and pay for content with bitcoins so anybody looking at their CC bills won't be able tell Cheesy

p.s. side note: dot-bit.org seems to be dead, not a good sign Cheesy

You have good points but keep in mind that namecoin is identicle to bitcoin in terms of its structure as a virtual currency. When people want an alternative, which usually happens at some point people will get into namecoins.

Competition is what makes a free market a free market and that is why the fiat currencies like the dollar have really no competition that isn't already fraudulent (counterfeit) and thus monopolizes the entire USA.

Namecoins as a secondary (maybe not as strong as bitcoin) virtual currency is very viable in my opinion.

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marcus_of_augustus
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July 26, 2011, 08:49:32 PM
 #297

You are right in my opinion, which is why there is further development for namecoin to be done. I suspect the majority of the development will not take more than 6 to 9 months to get up to speed. Bitcoin has given namecoin a handicap in that much of the ideas and market and people are in places to make bitcoin and namecoin explode soon enough.

Maybe it's just me and my limited imagination but at this point I feel it's very unlikely for namecoin to work out as intended beyond use for a small group of people, namely geeks.

The way I see it, we'll need to convince ISPs to do extra work for no benefits to them (i.e. to their profits) in order for this to work. But if this requires ISP cooperation to work, then namecoin's strength as a resilient distributed DNS vanishes as it is reliant on ISPs cooperation. So any ISP (or the government of that country) can simply block off lookups to a particular domain say wikileaks.bit and render the service useless to the majority of their users who probably never heard of DNS, much less know/bother to get around such blocks.

There is one possible way namecoin could work out (and for that matter bitcoin could get boosted by the same), is the porn industry. After all, people are willing to pay money, install dubious dialers and whatever not to get their porn fix, they will probably be willing to do something that doesn't cost anything to get access to more porn, and pay for content with bitcoins so anybody looking at their CC bills won't be able tell Cheesy

p.s. side note: dot-bit.org seems to be dead, not a good sign Cheesy

There is no extra work for ISPs and it has nothing to do with their co-operation ... do you even know how DNS works?

From what you have written, seems clear that you haven't a clue how namecoin works.

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July 27, 2011, 01:01:43 AM
 #298

I am having problems running namecoins, the software compiles fine, and it runs, I am using version v0.3.24rc2.zip of the software, the problem I have is that instead of downloading the block chain corresponding to namecoins it downloads the chain that corresponds to bitcoins.

for example the current block number under namecoin is somewhere around Block number 16128, and when I run the namecoin software it keeps downloading blocks like if it was running for bitcoins.

I tried on port 8332, and then on 8336 and same thing happens.

I am using Linux, tried un debian and centos and have the same problem.

Anyone know what I am doing wrong?

all help will be greatly appreciated.

Thanks,

jackjack
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July 27, 2011, 01:45:31 AM
 #299

I am having problems running namecoins, the software compiles fine, and it runs, I am using version v0.3.24rc2.zip of the software, the problem I have is that instead of downloading the block chain corresponding to namecoins it downloads the chain that corresponds to bitcoins.

for example the current block number under namecoin is somewhere around Block number 16128, and when I run the namecoin software it keeps downloading blocks like if it was running for bitcoins.

I tried on port 8332, and then on 8336 and same thing happens.

I am using Linux, tried un debian and centos and have the same problem.

Anyone know what I am doing wrong?

all help will be greatly appreciated.

Thanks,


More like 18k, but still pretty weird
Did you try to download and compile it again?

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
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July 27, 2011, 03:07:45 AM
 #300

What would be the best tactic to buy 25,000 - 30,000 Namecoins without moving the price up to high?
Spread out over a longer time? Or place a big order at a fixed price? Many orders at different prices?
If you want to buy this amount for a bulk price, PM me and we can work something out.
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