pogi23 (OP)
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November 12, 2011, 01:00:15 AM Last edit: November 12, 2011, 06:56:00 AM by pogi23 |
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Hello hello! Since I'm still restricted, I'll ask here. I understand how merged mining works and I (kinda) understand the reason for namecoins but wouldn't merged mining hurt the value of namecoins?
I just checked bitparking and the last exchange rate is 1NMC=0.0066BTC (the highest I saw was .01BTC yesterday). I suppose that's great if you only use namecoins but wouldn't the rush devalue it (depending on your pool, you could be mining 6NMC:1BTC).
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MoonShad0w384
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November 14, 2011, 12:11:53 PM |
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It does appear that merged mining has done some funny things to the price of NMC, so you might be on to something there.
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BTCurious
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November 14, 2011, 01:10:57 PM |
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Merged mining won't increase the amount of namecoins mined, just like adding a huge server farm to bitcoin mining won't change the amount of bitcoins mined. It may influence the rates in different ways, but that's hard to predict…
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DeathAndTaxes
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Gerald Davis
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November 14, 2011, 02:30:04 PM |
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NMC wasn't intended as a currency but as a method of fairly allowing the registration of domain names. As such it doesn't matter what the value of an NMC token is. $10,000 USD $0.00000001 USD each is rather irrelivent.
For those who are speculators and purchased huge amounts of NMC in naive hope to corner the market the price drop is a huge loss but for everyone else merged mining is only a plus. NMC is now secure against 51% attack, has more stable block time, and you can will register .bit domain names.
In time the value of (NMC + BTC) will be ~= BTC prior to merged mining*
*If all other factors remain the same (which they never are).
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Manko
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November 14, 2011, 04:40:37 PM |
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This merged mining is a pain in the butt. I only want BTC. I should have paid atterntion, as I did not realise the pool I was using had switched to merged mining Mining NMC is a waste of your miners' time.
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DeathAndTaxes
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Gerald Davis
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November 14, 2011, 04:44:34 PM |
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This merged mining is a pain in the butt. I only want BTC. I should have paid atterntion, as I did not realise the pool I was using had switched to merged mining Mining NMC is a waste of your miners' time. No it isn't. You don't earn 1 BTC less w/ merged mining.
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pogi23 (OP)
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November 14, 2011, 05:12:04 PM |
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I agree, it doesn't take any longer to mine BTC. For now anyway since NMC difficulty is so low. Difficulty just went up almost 50%, however, and BTC went down by about 1%. Also, NMC:BTC is 109.8 or 0.0091 (BTC:NMC).
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