Okay, I wanted to get into bitcoin so I went online and bought a butterfly jalapeno that is getting 7Ghs. I got it all setup and now I am getting namecoins. What do I do with those and how to I transfer them into my wallet. Eventually I want to get cash out of the BTC I earn, so how should I be doing that as well?
Namecoin is a currency similar to bitcoins. I assume you are also getting devcoins.
Anyway, you need to create a bitcoin wallet on your computer or at blockchain.info. bitcoin.org can help you decide which wallet you want. After you get the wallet set up, you can transfer the bitcoins to your wallet. Don't leave them in the pool's wallet too long.
As for namecoin and devcoin, you also need to set up wallets for those. Those wallets are similar to the bitcoin-qt wallet.
As for cashing out the bitcoins, Coinbase.com and LocalBitcoins.com are your best options if you are in the U.S. Cashing out the others is more complicated, but they are worth very little so there is no hurry.
