MaGNeT
Legendary
 Offline
Activity: 1526
Merit: 1002
Waves | 3PHMaGNeTJfqFfD4xuctgKdoxLX188QM8na
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July 22, 2011, 05:57:19 PM |
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If BTC are worth slightly more, all you need to do is to mine BTC and buy NMC for 0.0557 instead of 0.0556 BTC a piece, as many as possible and untill difficulty changes (most likely up again).
Once this boom is over, i myself plan to mine with 1/3rd of my mining power in NMC and the other 2/3's in BTC. And hope that the merged mining project comes to a point it can be implemented. When merged mining is implemented, Namecoin difficulty will go up so "easy mining" of large amounts is over... I guess it can even be profitable to mine namecoins after the next difficulty increase because it's still "easy" to mine namecoins.... |
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relm9
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July 22, 2011, 06:01:19 PM |
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Been mining NM for approx 18 hrs now @ 640 MHash/s - found zip LOL
Well, average time is 1 day and around 16-17 hours for that hash speed |
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joker060
Newbie
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Activity: 37
Merit: 0
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July 22, 2011, 06:20:42 PM |
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Can anyone post a detailed how to on setting up solo mining?
When I start namecoind (on Windows 7) via command prompt it does nothing and says nothing.
All you have done is start the solo server. You need to setup a miner too. When i start up Guiminer and point it to localhost (correct port as well) it gives me a error code. Something along the lines of 801901... |
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Iyeman
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July 22, 2011, 07:09:31 PM |
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Can anyone post a detailed how to on setting up solo mining?
When I start namecoind (on Windows 7) via command prompt it does nothing and says nothing.
All you have done is start the solo server. You need to setup a miner too. When i start up Guiminer and point it to localhost (correct port as well) it gives me a error code. Something along the lines of 801901... Did you follow all of the steps in the original post? specifically step 2...thats the un/pwd you need to use in the miner. |
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joker060
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Activity: 37
Merit: 0
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July 22, 2011, 07:19:34 PM |
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Yes i did all that and it returns me an error of 80190191 and stays at connecting.
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jackjack
Legendary
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Activity: 1176
Merit: 1233
May Bitcoin be touched by his Noodly Appendage
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July 22, 2011, 07:57:49 PM |
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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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Oldminer
Legendary
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Activity: 1022
Merit: 1001
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July 22, 2011, 08:13:34 PM |
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Well, average time is 1 day and around 16-17 hours for that hash speed
Yea thanks, I guess it has only been 24 hours so far. Maybe when I do hit gold I'll hit a purple patch  |
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forexmasterja
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July 22, 2011, 10:07:49 PM |
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Ok when solo mining, Is it better to run separate namecoind instances or should I push all miners to one local namecoind instance and let them mine through that ?
Especially taking into consideration the whole merkle root thing i heard something about? would each machine running a separate mining instance have a different merkle root ? and is there anyway to be notified when you find a block mining solo ?
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grue
Legendary
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Activity: 2058
Merit: 1431
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July 22, 2011, 10:30:35 PM |
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Ok when solo mining, Is it better to run separate namecoind instances or should I push all miners to one local namecoind instance and let them mine through that ?
Especially taking into consideration the whole merkle root thing i heard something about? would each machine running a separate mining instance have a different merkle root ? and is there anyway to be notified when you find a block mining solo ?
it's pretty much the same. |
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shivansps
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July 22, 2011, 10:43:38 PM |
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If BTC are worth slightly more, all you need to do is to mine BTC and buy NMC for 0.0557 instead of 0.0556 BTC a piece, as many as possible and untill difficulty changes (most likely up again).
Once this boom is over, i myself plan to mine with 1/3rd of my mining power in NMC and the other 2/3's in BTC. And hope that the merged mining project comes to a point it can be implemented. When merged mining is implemented, Namecoin difficulty will go up so "easy mining" of large amounts is over... I guess it can even be profitable to mine namecoins after the next difficulty increase because it's still "easy" to mine namecoins.... I still dont understand what this "merged mining" is... if people want to mine on both they can... as i do... 3 ghash to bitcoin, 2 to namecoin. |
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forexmasterja
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July 22, 2011, 10:44:35 PM |
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Ok when solo mining, Is it better to run separate namecoind instances or should I push all miners to one local namecoind instance and let them mine through that ?
Especially taking into consideration the whole merkle root thing i heard something about? would each machine running a separate mining instance have a different merkle root ? and is there anyway to be notified when you find a block mining solo ?
it's pretty much the same. Wouldnt it be slightly different lets take for example an extreme case suppose you were still using cpu's to do the mining and each cpu was generating 5mash on its own and you had 100 computers at this point the total output would be 500mhash but if each machine was running a different namecoind instance wouldnt the total power overall be separated? and in essence wouldnt connecting all machines to a single namecoind instance be like running a mini pool basically ?? Thoughts anyone ? |
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MaGNeT
Legendary
Offline
Activity: 1526
Merit: 1002
Waves | 3PHMaGNeTJfqFfD4xuctgKdoxLX188QM8na
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July 22, 2011, 10:46:08 PM |
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If BTC are worth slightly more, all you need to do is to mine BTC and buy NMC for 0.0557 instead of 0.0556 BTC a piece, as many as possible and untill difficulty changes (most likely up again).
Once this boom is over, i myself plan to mine with 1/3rd of my mining power in NMC and the other 2/3's in BTC. And hope that the merged mining project comes to a point it can be implemented. When merged mining is implemented, Namecoin difficulty will go up so "easy mining" of large amounts is over... I guess it can even be profitable to mine namecoins after the next difficulty increase because it's still "easy" to mine namecoins.... I still dont understand what this "merged mining" is... if people want to mine on both they can... as i do... 3 ghash to bitcoin, 2 to namecoin. With merged mining you can put the 5Ghash/s on Bitcoin & Namecoin at the same time. Than 5Ghash/s is like 10Ghash/s... |
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simonk83
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July 22, 2011, 11:10:35 PM |
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Quick question all. I was mining in a pool most of yesterday and didn't get much for my efforts, however when I did listtransactions it showed as: "account" : "", "address" : "NJc6Vc5xetc "category" : "receive "amount" : 3.21000000 "confirmations" : 30, "txid" : "c764b7ed687etc "time" : 1311372031 I've switched to solo mining overnight and just found my first block, in listtransactions however it shows as: "account" : "", "category" : "immature", "amount" : 50.01000000, "confirmations" : 31, "txid" : "d4e22dddc95a28etc "time" : 1311371999 The difference being it doesn't show an address. Is this normal, and will it just show up at my address when the 120 blocks are confirmed, or have I done something wrong?  |
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Yannick
Member
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Activity: 68
Merit: 10
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July 22, 2011, 11:32:55 PM |
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Is solo mining NMC more profitable than mining in a pool with 840 Mhash/sec?
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simonk83
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July 22, 2011, 11:34:13 PM |
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Is solo mining NMC more profitable than mining in a pool with 840 Mhash/sec?
Has been for me. I was in the pool for 18 hours and got 15 namecoins. I've been solo mining for about 10 hours and hit a block of 50. That said, it's all luck so it could take you 5 days to find one (or 10 minutes) I'm also running around 800Mhash. |
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Yannick
Member
Offline
Activity: 68
Merit: 10
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July 22, 2011, 11:39:55 PM |
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Is solo mining NMC more profitable than mining in a pool with 840 Mhash/sec?
Has been for me. I was in the pool for 18 hours and got 15 namecoins. I've been solo mining for about 10 hours and hit a block of 50. That said, it's all luck so it could take you 5 days to find one (or 10 minutes) I'm also running around 800Mhash. Well, it seems like gambling to me.  I like a steady income, so I'll stick to a pool.  |
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simonk83
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July 22, 2011, 11:56:00 PM |
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Is solo mining NMC more profitable than mining in a pool with 840 Mhash/sec?
Has been for me. I was in the pool for 18 hours and got 15 namecoins. I've been solo mining for about 10 hours and hit a block of 50. That said, it's all luck so it could take you 5 days to find one (or 10 minutes) I'm also running around 800Mhash. Well, it seems like gambling to me. I like a steady income, so I'll stick to a pool. Sure is At the rate I was getting in the pool though, you're better off mining bitcoins. |
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forexmasterja
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July 23, 2011, 12:29:05 AM |
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Is solo mining NMC more profitable than mining in a pool with 840 Mhash/sec?
Has been for me. I was in the pool for 18 hours and got 15 namecoins. I've been solo mining for about 10 hours and hit a block of 50. That said, it's all luck so it could take you 5 days to find one (or 10 minutes) I'm also running around 800Mhash. Well, it seems like gambling to me. I like a steady income, so I'll stick to a pool. Sure is At the rate I was getting in the pool though, you're better off mining bitcoins. Which pool was that ? |
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