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Author Topic: Merged mining  (Read 635 times)
pogi23
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November 12, 2011, 01:00:15 AM
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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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November 14, 2011, 01:10:57 PM
 #3

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…

DeathAndTaxes
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November 14, 2011, 02:30:04 PM
 #4

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).
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  Angry

Mining NMC is a waste of your miners' time.
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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  Angry

Mining NMC is a waste of your miners' time.


No it isn't.  You don't earn 1 BTC less w/ merged mining.
pogi23
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November 14, 2011, 05:12:04 PM
 #7

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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