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Author Topic: Namecoin is now the safest "alternate cryptocurrency"?  (Read 2962 times)
MaGNeT
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October 11, 2011, 04:30:28 PM
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I was thinking about this when I took a look at http://allchains.info

There is about 1.5 Thash/s mining-power available for Namecoin and it's still growing while bigger pools implement merged mining.
Slush is already offering "merged mining" and it seems to work.

At first, I guess this will bring down the value of Namecoin because, now difficulty is low, there are too many Namecoins created atm.
But when difficulty goes sky high and safety increases, doesn't it look like a very safe coin to pay with or invest into?

Other chains got +51% attacks, but am I right if I say Namecoin is out of the dangerzone and can almost be compared to Bitcoin safety-level?

Please share your thoughts!
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ElectricMucus
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October 11, 2011, 04:33:41 PM
 #2

Well it stopped to be 'alternate' at this point. I can see it to be widely accepted by the bitcoin community (whats left of it by then) in 1-2 months. Smiley

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October 11, 2011, 04:44:02 PM
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Well it'll still be an alternate currency, however with the price differences it'll be the lower value currency.

Basically Bitcoin would be Gold, and Namecoin would be silver.
MaGNeT
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October 11, 2011, 04:49:19 PM
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Well it'll still be an alternate currency, however with the price differences it'll be the lower value currency.

Basically Bitcoin would be Gold, and Namecoin would be silver.

I always liked silver Wink
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October 11, 2011, 05:27:39 PM
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Well it'll still be an alternate currency, however with the price differences it'll be the lower value currency.

Basically Bitcoin would be Gold, and Namecoin would be silver.

It also sounds a part of an Abbott and Costello joke: http://www.youtube.com/watch?v=sShMA85pv8M
"What is the name of it?" "NameCoin!" "Yes, what is the name of the coin though?!"

1JvnFCbMXAyeooPggF9snLAeg3A2QVV8eh
MaGNeT
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October 12, 2011, 06:25:39 PM
 #6

It will never be so easy to mine NameCoins as it is now...
Difficulty shoots up in about 20 hours.
grod
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October 12, 2011, 10:52:03 PM
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His point is valid though.  Another subsidized netcoin mining period is coming up, and this might be the last one (unless bitcoin implodes).
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October 13, 2011, 02:06:31 AM
 #8

It will never be so easy to mine NameCoins as it is now...
Difficulty shoots up in about 20 hours.

You mean shoots down by 75%.

http://dot-bit.org/tools/nextDifficulty.php
Wow. It was going up due merged mining, but due to the DDOS it seems it'll go down lower than it was before.

Did NMC miners stop mining due to merged mining?
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October 13, 2011, 02:12:00 AM
 #9

It will never be so easy to mine NameCoins as it is now...
Difficulty shoots up in about 20 hours.

You mean shoots down by 75%.

http://dot-bit.org/tools/nextDifficulty.php
Wow. It was going up due merged mining, but due to the DDOS it seems it'll go down lower than it was before.

Did NMC miners stop mining due to merged mining?
It was never going up. It's because there was a gigantic period of time when namecoin was going 1-2 blocks a day.
MaGNeT
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October 13, 2011, 08:58:17 PM
 #10

It will never be so easy to mine NameCoins as it is now...
Difficulty shoots up in about 20 hours.

You mean shoots down by 75%.

http://dot-bit.org/tools/nextDifficulty.php

I'm not sure if the prediction on http://dot-bit.org is valid.

On http://allchains.info it says it goes up by approx. 50% within 3-4 hours.

I'll buy and mine them anyway. They look safe and pretty stable on the exchange where other, newer altcoins already crashed.
tysat
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October 13, 2011, 10:24:57 PM
 #11

I'm not sure if the prediction on http://dot-bit.org is valid.

On http://allchains.info it says it goes up by approx. 50% within 3-4 hours.

I'll buy and mine them anyway. They look safe and pretty stable on the exchange where other, newer altcoins already crashed.

It's definitely going to be going down to 25% of what it is now.  The next difficulty tool on dot-bit.org has been right in the past.
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October 14, 2011, 02:13:52 AM
 #12

It will never be so easy to mine NameCoins as it is now...
Difficulty shoots up in about 20 hours.

You mean shoots down by 75%.

http://dot-bit.org/tools/nextDifficulty.php

I'm not sure if the prediction on http://dot-bit.org is valid.

On http://allchains.info it says it goes up by approx. 50% within 3-4 hours.

I'll buy and mine them anyway. They look safe and pretty stable on the exchange where other, newer altcoins already crashed.
you realize that the last 2K blocks took seriously months? how can it go up, lol

edit: just checked
yep, it went down to 23K, and going straight back up, lol

worldinacoin
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October 14, 2011, 05:26:22 AM
 #13

Waiting for the pool I am mining now to merge so that I can have Namecoin together, no harm having two Smiley
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October 14, 2011, 07:36:46 AM
 #14

Waiting for the pool I am mining now to merge so that I can have Namecoin together, no harm having two Smiley
why would you wait? you will literally mine 2.5x more money if you mine on a merged pool right now

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October 14, 2011, 07:57:46 AM
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Waiting for the pool I am mining now to merge so that I can have Namecoin together, no harm having two Smiley
why would you wait? you will literally mine 2.5x more money if you mine on a merged pool right now

Yeah, why wait, wisdomtool? The party will be over come Sunday night. No beer, no girls and no easy NMC anymore  Wink

Fiat no more.
Δοκιμάστε το http://multibit.org - Bitcoin client τώρα και στα Ελληνικά
finway
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October 14, 2011, 09:48:47 AM
 #16

sure it is.

worldinacoin
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October 14, 2011, 11:12:22 AM
 #17

Waiting for the pool I am mining now to merge so that I can have Namecoin together, no harm having two Smiley
why would you wait? you will literally mine 2.5x more money if you mine on a merged pool right now

Yeah, why wait, wisdomtool? The party will be over come Sunday night. No beer, no girls and no easy NMC anymore  Wink

It should definitely be equal to more than 1.0 but should not be so profitable as 2.5 right?  Anyway I shifted to a merged mining pool to give it a try Smiley
MaGNeT
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October 14, 2011, 06:49:22 PM
 #18

I'm not sure if the prediction on http://dot-bit.org is valid.

On http://allchains.info it says it goes up by approx. 50% within 3-4 hours.

I'll buy and mine them anyway. They look safe and pretty stable on the exchange where other, newer altcoins already crashed.

It's definitely going to be going down to 25% of what it is now.  The next difficulty tool on dot-bit.org has been right in the past.

I didn't know what prediction I could believe Wink
tysat
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October 14, 2011, 06:57:25 PM
 #19

I didn't know what prediction I could believe Wink

But it wasn't a prediction.... it was math!
MaGNeT
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October 14, 2011, 07:22:53 PM
 #20

I didn't know what prediction I could believe Wink

But it wasn't a prediction.... it was math!

The math was off a bit Grin
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