Mining Namecoins is now 2x more profitable than Bitcoins

[cryptomint]

Is solo mining NMC more profitable than mining in a pool with 840 Mhash/sec?

Some things to consider:

• stale shares, pool vs solo
• pool connectivity issues
• pool fees

Luck plays a big factor and variance can be a ruthless beast.

I found 5 blocks in 18 hours
then 0 the next 24 hours with the same hash rate!

[1714005187]

1714005187

[nebiki]

am i using the right formula?

time = difficulty * 2**32 / hashrate

divide by time, multiply by hashrate. set time = 120 seconds (that's about the rate atm), difficulty = 23508.

23508* 2^32 hashes / 120s = 841*10^9 hash/s = 783Ghash/s

that's some sicko network speed.

[Starlightbreaker]

Is solo mining NMC more profitable than mining in a pool with 840 Mhash/sec?

Some things to consider:

• stale shares, pool vs solo
• pool connectivity issues
• pool fees

Luck plays a big factor and variance can be a ruthless beast.

I found 5 blocks in 18 hours
then 0 the next 24 hours with the same hash rate!

man, i got 5 blocks, only 1 got confirmed until today.

i guess i can assume i lost the other 4.
hah.

[simonk83]

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 ?

Coinotron

[pennytrader]

I just have one question: why are there some people still mining BTC now? I think they should all switch to namecoin mining for maximizing profits.

[mjoz]

I just have one question: why are there some people still mining BTC now? I think they should all switch to namecoin mining for maximizing profits.

It's only going to last until sometime tomorrow, then the complexity is going to skyrocket.

[pennytrader]

I just have one question: why are there some people still mining BTC now? I think they should all switch to namecoin mining for maximizing profits.

It's only going to last until sometime tomorrow, then the complexity is going to skyrocket.

I know. But it started since 2 days ago. So at least 3 day's solid profit.

[JohnDoe]

I know. But it started since 2 days ago. So at least 3 day's solid profit.

If every bitcoin miner had jumped it would have lasted just a few hours.

[Bitcoin_Silver_Supply]

Who is selling and who is holding at the moment? I want some speculation trolls in here.

[pennytrader]

I know. But it started since 2 days ago. So at least 3 day's solid profit.

If every bitcoin miner had jumped it would have lasted just a few hours.

12 hours if just deepbit mines namecoins.

Personally I feel namecoin is actually better since it has some real value (registering domains), with same full attributes as BTC has. I have to continue to convert it to BTC though as I'm worried the history will repeat, like what happened last time when the difficulty spiked and price fell at the same time.

[imperi]

I know. But it started since 2 days ago. So at least 3 day's solid profit.

If every bitcoin miner had jumped it would have lasted just a few hours.

Personally I feel namecoin is actually better since it has some real value (registering domains), with full same attributes as BTC has. I have to continue to convert it to BTC though as I'm worried the history will repeat, like what happened last time when the difficulty spiked and price fell at the same time.

Whoa now, let's not call on the trolls to run in...

[pennytrader]

I know. But it started since 2 days ago. So at least 3 day's solid profit.

If every bitcoin miner had jumped it would have lasted just a few hours.

Personally I feel namecoin is actually better since it has some real value (registering domains), with full same attributes as BTC has. I have to continue to convert it to BTC though as I'm worried the history will repeat, like what happened last time when the difficulty spiked and price fell at the same time.

Whoa now, let's not bring the trolls running in...

Again, it's my personal opinion and you don't have to act like a troll to acknowledge anything. What I do with namecoin is irrelevant to where the market will go.

[imperi]

I agree with you. I am saying that there's some people here who invest 100% in Bitcoin and 0 in Namecoin, and this topic makes them feel insecure and sometimes emotional. Just saying it could ruin the thread.

[CrazyGuy]

Is solo mining NMC more profitable than mining in a pool with 840 Mhash/sec?

Some things to consider:

• stale shares, pool vs solo
• pool connectivity issues
• pool fees

Luck plays a big factor and variance can be a ruthless beast.

I found 5 blocks in 18 hours
then 0 the next 24 hours with the same hash rate!

Same thing here, I'm mining at ~ 780 mh/s and I found 2 blocks in the first hour I started (about 46 hours ago)  I haven't found another one since.  Hopefully my luck will change overnight.  I'd say go for it though. With 24 hours left your chances of finding 2 blocks are the same as finding none. Worst that could happen is you lose a day of mining...

[Starlightbreaker]

For now, i decided to pool.

my not so good calculations tells me that i can get around 1 block worth of coins daily, which is not too far off from what i'm getting right now.

[MaGNeT]

Who is selling and who is holding at the moment? I want some speculation trolls in here.

I only sell a small amount of Namecoins to pay for electricity.I keep about 70% of them in my wallet and let them sit there for a year.

Thought about that, electricity for 3-4 days? I'll just keep them...

Think about next year... Merged mining will be the standard, so Namecoin difficulty will be sky high, price may go up 3 times or more...

It will never again be so easy to mine Namecoins as it is now... So I guess keeping them is the best thing to do... I even bought 455 NC as an investment...

[Grinder]

It will never again be so easy to mine Namecoins as it is now... So I guess keeping them is the best thing to do... I even bought 455 NC as an investment...

If you're mining for the namecoins it will be a lot harder, but if you're mining for bitcoins it will be a lot easier. Over all it's the same.

[mastergamer]

seems like mining namecoins is too high for me.

At first, i dont really understand the system, but that doesnt matter i think.

I try to mine nmc, but iam failing at the early beginning.
i downloaded the .exe file and startet it, but the command line which appears ist only vieable for about 5 sec (black), then it closes itself. I gues this is my first problem?

Then, i createt die namecoin.conf file somewhere in "appdata", iam not sure whether it is right or not, i changed nothing in this file, but i need to fill in my username + password right?
Where can i registrate to get these user datas?

Is there any existing toturial about how to mine/use namecoins?

[Xephan]

seems like mining namecoins is too high for me.

At first, i dont really understand the system, but that doesnt matter i think.

I try to mine nmc, but iam failing at the early beginning.
i downloaded the .exe file and startet it, but the command line which appears ist only vieable for about 5 sec (black), then it closes itself. I gues this is my first problem?

Then, i createt die namecoin.conf file somewhere in "appdata", iam not sure whether it is right or not, i changed nothing in this file, but i need to fill in my username + password right?
Where can i registrate to get these user datas?

Is there any existing toturial about how to mine/use namecoins?

It's a command line application so if there's any error you won't be able to see it like that.
What you should do is open a command window, usually typing CMD into your Start menu search box and hitting enter would do.

You should get a black console/command window. Then, I would CD to the correct folder but might get complicated, so just type in the full path to your namecoind.exe to run it and see what's the problem.

[jackjack]

edited, nvm...