Mining Namecoins is now 2x more profitable than Bitcoins

[Starlightbreaker]

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

[1713309140]

1713309140

[1713309140]

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[1713309140]

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[jackjack]

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

[imperi]

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]

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

[imperi]

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]

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.

[jackjack]

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

[bcpokey]

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.

[goxed]

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

[relm9]

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

same here. about time!

[simonk83]

Hmm.  Solo or Pool.... solo or pool....

[imperi]

Namecoins are now at .029/BTC, up from .02 last night. 50% more profitable to mine.

[SteveB]

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]

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.

[bmgjet]

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.

[irishmick]

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

[bcpokey]

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

[mjoz]

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 

[relm9]

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  

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]

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 

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.