[20 gh] NMCBit pool 3% fee prop 6.6% PPS

[DavinciJ15]

Open August 1st, 2011
Currently located at www.nmcbit.com.
BTC PPS  : 0.0000250038670213
NMC PPS : 0.0000601374278873



NMC to BTC transfer button so no need to get the namecoin client software and create an address.

Video on how to use NMCBIT.COM
http://www.youtube.com/watch?v=uNsfSGckOAU

Features:

• All the features you'll expect a pool to have. Works in proportional (Pay-Per-Share available by Sept 5th, 2011) You get a part of every solved block proportional to your part in pool hashing rate.
• Payouts for unconfirmed blocks no waiting weeks for confirmation.
• Statistics page for viewing average Shares, Estimated earnings per block, Mhash/s and more.
• Dashboard with Balance, Average speed, Shares and stale viewing, Instant payout to namecoin address, Worker creation and statistics of each worker.
• Userbar with current Mhash/s, see below
• Email Notification - If a worker drops to zero hash/s and you enabled Email Notification on that worker. An email will be send to your signup email address with the name of the worker that failed. This gives you the opportunity to get an heads up for restarting your miner.
• Recent Transactions and transactions overview.
• Remember sign in credential.
• API for both user and total pool
• Statistics with daily graphs of hash rate and workers.

0% is the fee, that will be given back many times to early adopters.  


This is a beta site but anyone willing to help throw a few hashes at it and help me debug it  will be rewarded later on.  The first 5 users that commit 1 Ghash until I am out of beta scheduled for Sept 5th will receive 10 BTCs each.  Everyone else will receive other rewards such as lower fees for life or affiliate payments for signing up other miners.
REMEMBER to use fallback servers this thing may go down a lot.

[zx9r]

Why should anyone mining namecoins with the current difficult/price ratio instead of mining bitcoins ?

[Iyeman]

Why should anyone mining namecoins with the current difficult/price ratio instead of mining bitcoins ?

Same reason people mined Bitcoins a year ago when it was unprofitable.

[zx9r]

Why should anyone mining namecoins with the current difficult/price ratio instead of mining bitcoins ?

Same reason people mined Bitcoins a year ago when it was unprofitable.

Not the same situation at all. That days you couldnt mine another XXCoin with less difficult/price ratio to buy BTC with.

 

[Starlightbreaker]

10% stale?

whoa.

[DavinciJ15]

10% stale?

whoa.

Yeah I'm on it.

[smoothie]

Why should anyone mining namecoins with the current difficult/price ratio instead of mining bitcoins ?

Same reason people mined Bitcoins a year ago when it was unprofitable.

Not the same situation at all. That days you couldnt mine another XXCoin with less difficult/price ratio to buy BTC with.

 

Keep in mind that there are much less namecoins in existence than bitcoins and that will stay that way for some time plus namecoins have another usage that bitcoins currently do not. They can register domain names in a decentralized way. You own the domain and no one can take it away from you.

[DavinciJ15]

Keep in mind that there are much less namecoins in existence than bitcoins and that will stay that way for some time plus namecoins have another usage that bitcoins currently do not. They can register domain names in a decentralized way. You own the domain and no one can take it away from you.

You are preaching to the choir here I have taught myself monetary history and systems before I knew about bitcoin.  I did it because I was watching some asshole politican named Ron Paul say this monetary system is evil it transfers wealth from the poor and middle class to the rich.  When do one refuted his statements in the debate I decided to learn who this asshole was.  Turns out Ron Paul was not an asshole but the only good guy and I learned that I knew nothing about money and how it worked.

From that day forward in Oct 2007, read and read and read and learned like a rothchild jr everything I could about money and it's mechanics.

Thus I know the weakness of bitcoins is that it's not needed for anything else thus as a currency it must circulate or die but since it's not like any other currency the same rules may not apply.

[Starlightbreaker]

Turns out Ron Paul was not an asshole but the only good guy and I learned that I knew nothing about money and how it worked.

"lesser evil" sounds better for me.
not really on the same boat, but hey.

i'll get some hashpower to your pool every now & then.

[zx9r]

Why should anyone mining namecoins with the current difficult/price ratio instead of mining bitcoins ?

Same reason people mined Bitcoins a year ago when it was unprofitable.

Not the same situation at all. That days you couldnt mine another XXCoin with less difficult/price ratio to buy BTC with.

 

Keep in mind that there are much less namecoins in existence than bitcoins and that will stay that way for some time plus namecoins have another usage that bitcoins currently do not. They can register domain names in a decentralized way. You own the domain and no one can take it away from you.

You can also register .bit domains with bitcoins because you can change them for namecoins. The point here is that with the same amount of mhash/s you can get more namecoins by mining bitcoins and trading them for namecoins than mining namecoins.

[smoothie]

Why should anyone mining namecoins with the current difficult/price ratio instead of mining bitcoins ?

Same reason people mined Bitcoins a year ago when it was unprofitable.

Not the same situation at all. That days you couldnt mine another XXCoin with less difficult/price ratio to buy BTC with.

 

Keep in mind that there are much less namecoins in existence than bitcoins and that will stay that way for some time plus namecoins have another usage that bitcoins currently do not. They can register domain names in a decentralized way. You own the domain and no one can take it away from you.

You can also register .bit domains with bitcoins because you can change them for namecoins. The point here is that with the same amount of mhash/s you can get more namecoins by mining bitcoins and trading them for namecoins than mining namecoins.

You are correct. But how long will it last that you can mine for BTC and exchange for more namecoins than mining them and secondly how long do you think the price will stay in a range that is affordable for one to exchange bitcoins to namecoins without taking a "loss" in dollar terms?

Time is a ticking away...

[smoothie]

Keep in mind that there are much less namecoins in existence than bitcoins and that will stay that way for some time plus namecoins have another usage that bitcoins currently do not. They can register domain names in a decentralized way. You own the domain and no one can take it away from you.

You are preaching to the choir here I have taught myself monetary history and systems before I knew about bitcoin.  I did it because I was watching some asshole politican named Ron Paul say this monetary system is evil it transfers wealth from the poor and middle class to the rich.  When do one refuted his statements in the debate I decided to learn who this asshole was.  Turns out Ron Paul was not an asshole but the only good guy and I learned that I knew nothing about money and how it worked.

From that day forward in Oct 2007, read and read and read and learned like a rothchild jr everything I could about money and it's mechanics.

Thus I know the weakness of bitcoins is that it's not needed for anything else thus as a currency it must circulate or die but since it's not like any other currency the same rules may not apply.

Davinci,

Some people overlook that fact that we are at a much higher difficulty rate at block 18k in namecoins than bitcoins were at when they were mining at 18k (probably when only Satoshi was around). Thus this puts a huge volatility factor on the entire namecoin network.

Currently the entire market cap of namecoins compared to the market cap of bitcoins is 0.379% and there are about 8 times more bitcoins than namecoins.

Any small amount of bitcoins were to change over to namecoins and the price on the exchanges would go to the moon really fast.

We'll see how things play out...

[Iyeman]

Its not much but i put a few cpu miners on your pool for testing.

[Seraphim401]

1300 Mhs coming your way.

[DavinciJ15]

1300 Mhs coming your way.

some free namecoins coming your way if you are still mining in the morning, and more where that came from as I reward loyalty.

[Starlightbreaker]

1300mh/s going to your pool, until i wake up tomorrow morning.

[Seraphim401]

1300 Mhs coming your way.

some free namecoins coming your way if you are still mining in the morning, and more where that came from as I reward loyalty.

Awesome!

[zx9r]

Why should anyone mining namecoins with the current difficult/price ratio instead of mining bitcoins ?

Same reason people mined Bitcoins a year ago when it was unprofitable.

Not the same situation at all. That days you couldnt mine another XXCoin with less difficult/price ratio to buy BTC with.

 

Keep in mind that there are much less namecoins in existence than bitcoins and that will stay that way for some time plus namecoins have another usage that bitcoins currently do not. They can register domain names in a decentralized way. You own the domain and no one can take it away from you.

You can also register .bit domains with bitcoins because you can change them for namecoins. The point here is that with the same amount of mhash/s you can get more namecoins by mining bitcoins and trading them for namecoins than mining namecoins.

You are correct. But how long will it last that you can mine for BTC and exchange for more namecoins than mining them and secondly how long do you think the price will stay in a range that is affordable for one to exchange bitcoins to namecoins without taking a "loss" in dollar terms?

Time is a ticking away...

It doesn't matter how long. When that time comes, then start minning namecoins !! but why mine NMC today if you can get more by minning BTC ? That makes no sense.

[borgfish]

zx9r:

well its like pool hopping here ,
1 namecoin diff sinks because btc-nmc ratio was to bad for mining namecoin,
2 anyonw jumps on it
3 name coin diff rises (2-4 days later) factor 3-6
4 anyone leaves for btc mining
5 (1) namecoin diff sinks 3 month later

really useful....

its funny maybe i am lucky and see the diff fall in oct or nov and can jump on it ;o)

guess thats why davincy says "for the brave" and wants to honor loyality

[DavinciJ15]

It doesn't matter how long. When that time comes, then start minning namecoins !! but why mine NMC today if you can get more by minning BTC ? That makes no sense.

Why did people mine BTC when it was not profitable to do so and you could buy thousands of bitcoins for $100?   It made no sense then and you got 100x more BTC buying than mining, now compare that to the 2x more you get from buying namecoins with mined BTC.


Its because some people want to support the network getting paid is just gravy.

I plan to be operational at 100% by the time you come running for profit and there will be NO discounts (unless you negotiate with limited affiliated owners), or prizes.