Namecoin difficulty

[ajareselde]

Now when merged mining is in place and going without problems, is namecoin difficulty gonna explode to bitcoin size ?

i allready see that its gonna tripple in about 2 hours, so it seams that nmc is gonna become allmost as rare as bitcoin

[1714806264]

1714806264

[MaGNeT]

Now when merged mining is in place and going without problems, is namecoin difficulty gonna explode to bitcoin size ?

i allready see that its gonna tripple in about 2 hours, so it seams that nmc is gonna become allmost as rare as bitcoin

That is less than I expected actually I was thinking the max 4x diff increase would happen so that is a good thing. The difficulty of NMC will be dependent on the amount of pools that adopt the merged mining if all jump on then yeah bitcoin diff for namecoin. If it stays the same as it is now then it looks like it will stabilize at around the 90K range it was in before the drop happened.

Difficulty is not going up 3x but 4x.

nmc  22101  2016  22176  75  96.28%  23508.97554 94035.90217   300.00%  0d 2hr 9m 49s  

I guess it wil do that again next time.

[ElectricMucus]

Don't expect close to same difficulty mid-term.

Namecoin attracts less users because there isn't that much demand for it's intended usage in comparison to bitcoin. And it is much less user friendly, doesn't come with a gui client and adaptation/ easy access to the infrastructure is lagging behind. But there could be a speculative bubble which wouldn't last very long but it would bring more attention and later, after the collapse of it better adaptation.

[DeathAndTaxes]

Don't expect close to same difficulty mid-term.

Namecoin attracts less users because there isn't that much demand for it's intended usage in comparison to bitcoin. And it is much less user friendly, doesn't come with a gui client and adaptation/ easy access to the infrastructure is lagging behind. But there could be a speculative bubble which wouldn't last very long but it would bring more attention and later, after the collapse of it better adaptation.

What does any of that have to do with difficulty.

One pool is already setting up auto-conversion.  The pool merge mines BTC & NMC.  For miners that don't want NMC it will sell them for BTC and increase the miner's BTC balance.

Given there is minimal logistical overhead to merged mining (once setup) I would expect most pools to merge mine eventually.  Difficulty on NMC is going up up and up.

[ThiagoCMC]

Now when merged mining is in place and going without problems, is namecoin difficulty gonna explode to bitcoin size ?

i allready see that its gonna tripple in about 2 hours, so it seams that nmc is gonna become allmost as rare as bitcoin

Sorry about my ignorance but, what pool already have merged mining?!

Thanks!

[ElectricMucus]

Don't expect close to same difficulty mid-term.

Namecoin attracts less users because there isn't that much demand for it's intended usage in comparison to bitcoin. And it is much less user friendly, doesn't come with a gui client and adaptation/ easy access to the infrastructure is lagging behind. But there could be a speculative bubble which wouldn't last very long but it would bring more attention and later, after the collapse of it better adaptation.

What does any of that have to do with difficulty.

One pool is already setting up auto-conversion.  The pool merge mines BTC & NMC.  For miners that don't want NMC it will sell them for BTC and increase the miner's BTC balance.

Given there is minimal logistical overhead to merged mining (once setup) I would expect most pools to merge mine eventually.  Difficulty on NMC is going up up and up.

What does any of that have to do with my post.

[DeathAndTaxes]

"Don't expect close to same difficulty mid-term. "

Difficulty is based solely on hashing power.  It has nothing to do w/ difficulty of use, adoption, market size, etc.

Hashing power for namecoin is higher than current difficulty and rising.  If eventually 80% of bitcoin miners also merge mine that would be about 5x current hashing power.

[ElectricMucus]

Mining follows potential profits, and even if Namecoins are essentially free it will take some time till some miners recognize nmc as profitable.
Don't mind me, I'm just telling you how it is, yes eventually merged mining will be widely adopted,  I'm just telling you it might take longer than you expect.

[ThiagoCMC]

Sorry about my ignorance but, what pool already have merged mining?!

Slush, BTCGuild, Eligius, NMCBit, SimpleCoin.

Of the big 5 only Arsbitcoin and deepbit don't currently offer merged mining.   Arsbitcoin has indicated they may offer merged mining but needs to work through some issues.  There is a lot of noise on deepbit thread on why it hasn't offered merged mining yet so either deepbit offers merged mining (easily doubles NMC hashrate) or expect DeepBit to be getting smaller in the future.

I would be very surprised if all of the top 10 pools don't all offer merged mining within a couple weeks.  Too much "free coin".

I mean if you could earn x BTC per week or 1.3x BTC per week for the exact same miner, hardware, electrical cost, and end user "work" which would you pick? 

Do you know if the http://mining.mainframe.nl/ pool offers merged mining?!

Thanks!
Thiago