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Author Topic: Mining Namecoins is now 2x more profitable than Bitcoins  (Read 54736 times)
pennytrader
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July 27, 2011, 03:28:49 AM
 #301

I just looked at the stats. It seems 24000 blocks will come at least 2 months later

Block Time Difficulty Ratio
Last 18144 23/07/2011 20:14 94'037.96 x0.26
Instant 18144-18264 27/07/2011 02:00 24'181.19 x0.26
Next 20160 16/09/2011 06:54 24'181.19 x0.26

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July 27, 2011, 03:39:21 AM
 #302

Hi I found the problem it was that the namecoin download I used was actually a bitcoin software mislabeled, I got this time the namecoin software from  git clone git://github.com/vinced/namecoin.git
 and things are looking fine, it built a daemon called namecoind instead of bitcoind, and it uses a directory for configuration .namecoin instead of .bitcoin.


The download of the blocks seems to take forever to start, how long does it take for namecoin to start downloading the blocks when it is ran for first time?


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July 27, 2011, 03:50:20 AM
 #303

Hi I found the problem it was that the namecoin download I used was actually a bitcoin software mislabeled, I got this time the namecoin software from  git clone git://github.com/vinced/namecoin.git
 and things are looking fine, it built a daemon called namecoind instead of bitcoind, and it uses a directory for configuration .namecoin instead of .bitcoin.


The download of the blocks seems to take forever to start, how long does it take for namecoin to start downloading the blocks when it is ran for first time?




The latest version have a bug and doesn't want to download the blockchain.
Try v0.3.21.91
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July 27, 2011, 10:35:41 AM
 #304

The current difficulty (94k) makes NMC really not worth mining... why still do it??
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July 27, 2011, 11:18:29 AM
 #305

The current difficulty (94k) makes NMC really not worth mining... why still do it??

It is still profitable to mine namecoins, just not insanely profitable for 2 days ... the potential upside for NMC needs to be taken into account when looking forward to future profitability of today's mining also ... dyodd

http://tvori.info/bitcoin/charts/

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July 27, 2011, 03:33:26 PM
 #306

The latest version have a bug and doesn't want to download the blockchain.
Try v0.3.21.91

Master branch is fixed according to vinced, haven't tried myself.

Sergio, try re-downloading either newest master or v0.3.21.91 and open port 8334.
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July 27, 2011, 09:07:23 PM
 #307

The current difficulty (94k) makes NMC really not worth mining... why still do it??

Where do you see current nmc diff is 94k ?

According to http://dot-bit.org/tools/nextDifficulty.php it is just 21k

Am i missing something ?

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July 27, 2011, 09:13:19 PM
 #308

The current difficulty (94k) makes NMC really not worth mining... why still do it??

Where do you see current nmc diff is 94k ?

According to http://dot-bit.org/tools/nextDifficulty.php it is just 21k

Am i missing something ?



Yup, take a look at "last" for current difficulty.
"instant" is the difficulty if it would change right now, based on current hashing power.
"next" is the predicted difficulty, after 2016 blocks.


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July 27, 2011, 09:14:25 PM
 #309

The current difficulty (94k) makes NMC really not worth mining... why still do it??

Where do you see current nmc diff is 94k ?

According to http://dot-bit.org/tools/nextDifficulty.php it is just 21k

Am i missing something ?

There's a reason why that site is called nextDifficulty. Smiley

Though I do agree that the site is a bit confusing.
21k is the next difficulty. Look at the first row for the current difficulty.

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July 27, 2011, 10:28:58 PM
 #310

Aham I see. Thank you guys   Grin
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July 27, 2011, 10:37:04 PM
 #311

21k is the next difficulty.
Nope, look at the post just above yours Wink

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July 27, 2011, 10:38:58 PM
 #312

21k is the next difficulty.
Nope, look at the post just above yours Wink

Well, when he checked, it showed 21k. But that was not my point, so I didn't bother fixing that number and confuse the issue.

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July 28, 2011, 03:13:18 AM
 #313

Where is the #$%&/() who created this tropic now???

Next   25/09/2011 14:52    23'509.49   x0.25

2 months! there is even less people mining them than before!



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Iyeman
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July 28, 2011, 01:44:01 PM
 #314

Where is the #$%&/() who created this tropic now???

Next   25/09/2011 14:52    23'509.49   x0.25

2 months! there is even less people mining them than before!

Yeah, it is really sucking when it takes nearly 5 hours for ANYONE on the namecoin network to find a block...

18301   28/07/11 08:56:40
18300   28/07/11 04:06:44   

But as BTC gets more difficult to mine and the price of NMC continues to rise we will eventually hit that sweet spot to get to block 24000...hopefully sooner rather than later...Need to get the price to 0.0490 to make it as profitable as BTC after the increase in a few days.

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July 28, 2011, 03:30:35 PM
 #315

I'll keep on mining Namecoins anyway... No profit right now but you never know what happens... Just collecting  Smiley

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July 28, 2011, 04:12:19 PM
 #316

I'll keep on mining Namecoins anyway... No profit right now but you never know what happens... Just collecting  Smiley
mine bitcoins, go to the exchange and exchange them, it's more profitable
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July 28, 2011, 05:04:58 PM
 #317

I'll keep on mining Namecoins anyway... No profit right now but you never know what happens... Just collecting  Smiley
mine bitcoins, go to the exchange and exchange them, it's more profitable

True...
But if everyone would think like that, there would be no Namecoin... Payments are very slow now, too many people stopped mining after difficulty increase... ±1900 Blocks to find to next difficulty...

I'm buying Namecoins like crazy but without a network, nobody gets them...

Sign up for the REWARDMOB ICO and receive 100 RMOB for free! Use the referral 8MIFS57P
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Iyeman
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July 28, 2011, 05:50:32 PM
 #318

I'll keep on mining Namecoins anyway... No profit right now but you never know what happens... Just collecting  Smiley
mine bitcoins, go to the exchange and exchange them, it's more profitable

True...
But if everyone would think like that, there would be no Namecoin... Payments are very slow now, too many people stopped mining after difficulty increase... ±1900 Blocks to find to next difficulty...

I'm buying Namecoins like crazy but without a network, nobody gets them...

Exactly what Ive been saying all along.  I have about 30% of my little 1.2ghs mining NMC, the rest mining BTC and using it to buy NMC to jack the price up lol. seems to be working so far anyways.  Plus if NMC takes off and gains some real value then long term the profitability of mining NMC is better than BTC.


To many people looking for immediate return on their investment.

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July 28, 2011, 05:55:33 PM
 #319

I'll keep on mining Namecoins anyway... No profit right now but you never know what happens... Just collecting  Smiley
mine bitcoins, go to the exchange and exchange them, it's more profitable

True...
But if everyone would think like that, there would be no Namecoin... Payments are very slow now, too many people stopped mining after difficulty increase... ±1900 Blocks to find to next difficulty...

I'm buying Namecoins like crazy but without a network, nobody gets them...
that's because the difficulty rules are retarded, they adjust too slowly
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July 29, 2011, 06:55:14 PM
 #320

and now it will be October before another difficulty change...

Next   20160   12/10/2011

11 blocks in the past 24hrs.


18322   29/07/11 16:43:04   
18321   29/07/11 12:51:24   
18320   29/07/11 09:08:15   
18319   29/07/11 05:26:55   
18318   29/07/11 02:09:17   
18317   29/07/11 01:43:18   
18316   29/07/11 01:39:08   
18315   28/07/11 22:53:04   
18314   28/07/11 19:08:50   
18313   28/07/11 18:07:25   
18312   28/07/11 16:59:39   
   
   

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