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Author Topic: Mining Namecoins is now 2x more profitable than Bitcoins  (Read 52630 times)
Starlightbreaker
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July 21, 2011, 10:22:53 PM
 #81

I just hit a block myself. How do I check for confirmations again? Not seeing it in getinfo.
wait ~6 hrs. it'll show up in getinfo eventually


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jackjack
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July 21, 2011, 10:41:34 PM
 #82

Everybody mine, 30 blocks are found per hour, and the price don't fall?
Are Namecoin early adopters behind that?

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 21, 2011, 10:45:09 PM
 #83

Everybody mine, 30 blocks are found per hour, and the price don't fall?
Are Namecoin early adopters behind that?

Maybe it's because people don't think Namecoins are worthless, and they don't feel like selling them dirt-cheap?
jackjack
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July 21, 2011, 10:52:35 PM
 #84

Everybody mine, 30 blocks are found per hour, and the price don't fall?
Are Namecoin early adopters behind that?

Maybe it's because people don't think Namecoins are worthless, and they don't feel like selling them dirt-cheap?
Hashrate is now 5 times what it was 24 hours ago so 80% of people mining Namecoins right now are mining just for profit
I think it's not compatible with them thinking Namecoins aren't worthless, but you seem to be right

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.
imperi
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July 21, 2011, 10:56:44 PM
 #85

Everybody mine, 30 blocks are found per hour, and the price don't fall?
Are Namecoin early adopters behind that?

Maybe it's because people don't think Namecoins are worthless, and they don't feel like selling them dirt-cheap?
Hashrate is now 5 times what it was 24 hours ago so 80% of people mining Namecoins right now are mining just for profit
I think it's not compatible with them thinking Namecoins aren't worthless, but you seem to be right

A lot of people mine Bitcoins for profit too, and they don't sell them right away.
bcpokey
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July 21, 2011, 11:01:53 PM
 #86

A lot? Most people who mine, mine for profit. That is basically the concept behind mining, to generate/accumulate bitcoins to trade for goods/services/whatever. To suggest people are not mining for profit is silly, although I will admit that there are potentially some out there that do it just for the lulz or whatever, in the minority.
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July 21, 2011, 11:03:27 PM
 #87

Everybody mine, 30 blocks are found per hour, and the price don't fall?
Are Namecoin early adopters behind that?
Maybe it's because people don't think Namecoins are worthless, and they don't feel like selling them dirt-cheap?
Hashrate is now 5 times what it was 24 hours ago so 80% of people mining Namecoins right now are mining just for profit
I think it's not compatible with them thinking Namecoins aren't worthless, but you seem to be right
A lot of people mine Bitcoins for profit too, and they don't sell them right away.
But about buyers: they know there are much more coins mined, why still buying at the same price?

A lot? Most people who mine, mine for profit. That is basically the concept behind mining, to generate/accumulate bitcoins to trade for goods/services/whatever. To suggest people are not mining for profit is silly, although I will admit that there are potentially some out there that do it just for the lulz or whatever, in the minority.
I was meaning mining only for profit
I mine Bitcoins and it's clearly not only for profit

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.
bcpokey
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July 21, 2011, 11:35:37 PM
 #88

Why is it clearly not for profit? Do you give your bitcoins to charity?

Anywho, man namecoin surpassed even my expectations, 30 coins per hour yowza. Looks like under 2 days to the next difficulty change.
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July 21, 2011, 11:35:52 PM
 #89

I saw a huge bump in namecoin mining power in the last 24 hrs at http://www.coinotron.com pool.

Looking to review Bitcoin / Crypto mining Hardware.
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July 21, 2011, 11:56:52 PM
 #90

I just hit a block myself. How do I check for confirmations again? Not seeing it in getinfo.

same here. about time!
simonk83
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July 22, 2011, 12:14:10 AM
 #91

Hmm.  Solo or Pool.... solo or pool....
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July 22, 2011, 12:23:55 AM
 #92

Namecoins are now at .029/BTC, up from .02 last night. 50% more profitable to mine.
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July 22, 2011, 12:30:44 AM
 #93

I just hit a block myself. How do I check for confirmations again? Not seeing it in getinfo.
Use the 'listtransactions' command.
Bitcoin_Silver_Supply
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July 22, 2011, 12:41:16 AM
 #94

I just hit a block myself. How do I check for confirmations again? Not seeing it in getinfo.
Use the 'listtransactions' command.

Thanks for that. 74 confirmations.
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July 22, 2011, 02:03:47 AM
 #95

Any one that jumps to namecoins now will be disappointed.
A lot of people have changed to them so the market will get flooded soon and there price will come right down while pushing bitcoins price up.

Donations to: 1BMGjetfht9XLkGBYR4TSsuXjrYEKACcow
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Overclocked for 6 years and still strong http://valid.canardpc.com/show_oc.php?id=1931458 & http://valid.canardpc.com/show_oc.php?id=285337
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July 22, 2011, 02:12:55 AM
 #96

I just hit a block myself. How do I check for confirmations again? Not seeing it in getinfo.

namecoind.exe listtransactions

or

namecoind.exe help

for all possible instructions adjust accordingly ./namecoin  etc... for your operating system.

and not to be a dick but try reading the setup instructions on dot-bit.org next time..

yeah kinda a dick

http://doge.crypto49er.com:9555         http://doge-eu.crypto49er.com:9555
Pool donations: DTPgwgDvyDL3vcnJFf33nkhBm6o2ZxVT6G
bcpokey
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July 22, 2011, 02:44:29 AM
 #97

Any one that jumps to namecoins now will be disappointed.
A lot of people have changed to them so the market will get flooded soon and there price will come right down while pushing bitcoins price up.

wrong, namecoins price has jumped up almost by a third since the latest difficulty drop. More profitable than ever.

Sadly my bad luck is starting to crop up even at this difficulty. Haven't seen a coin generate in almost 10 hours Sad
mjoz
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July 22, 2011, 02:48:07 AM
 #98

Any one that jumps to namecoins now will be disappointed.
A lot of people have changed to them so the market will get flooded soon and there price will come right down while pushing bitcoins price up.

Who is going to dump namecoins when the new namecoin painful difficulty kicks in it will be months before the next difficulty drop because all these short term namecoin miners are going to switch back to bitcoin.  No one will be mining so namecoins should go up up up  Grin
relm9
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July 22, 2011, 03:09:13 AM
 #99

Any one that jumps to namecoins now will be disappointed.
A lot of people have changed to them so the market will get flooded soon and there price will come right down while pushing bitcoins price up.

Who is going to dump namecoins when the new namecoin painful difficulty kicks in it will be months before the next difficulty drop because all these short term namecoin miners are going to switch back to bitcoin.  No one will be mining so namecoins should go up up up  Grin

Not necessarily. Before the diff lowered namecoin value was lower than it is now. There is no guarantee value will go up at higher diff. It's the same with Bitcoin.
JohnDoe
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July 22, 2011, 03:14:31 AM
 #100

Who is going to dump namecoins when the new namecoin painful difficulty kicks in it will be months before the next difficulty drop because all these short term namecoin miners are going to switch back to bitcoin.  No one will be mining so namecoins should go up up up  Grin

Well in the last cycle they did dump their NMC anyway at below the difficulty rate. That's the reason why we had the slow phase to begin with.
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