I just made myself a promise:
When difficulty goes up I leave one GPU mining Namecoins (427Mhash/s @ PoolMunity) to keep the network going.
If 1 out of 10 does that, Namecoin might "survive" this increase quickly.
Topic: Mining Namecoins is now 2x more profitable than Bitcoins - page 14. (Read 55320 times)
The idea is to keep NMC mining as profitable as BTC mining. If the exchange rate is even slightly (let's say 1%) higher than BTC, you can earn 1% more by mining NMC and selling them - something a LOT of people might do and that would be MUCH cheaper for NMC enthusiasts than mining NMC at a 25-40% loss.
That's the idea but I doubt it will happen. The value of NMC would have to rally past .056 by Sunday. If it ends up short even a little then most miners will go back to Bitcoin and probably end up panic selling their remaining NMC. Then the value will hover below the difficulty rate and we'll have a slow ass cycle yet again.
It won't take 80 days. The difficulty can only go up 4x. Get educated. Go to school. Don't do drugs.
How long it takes is completely dependent on how much mining power remains after the retarget. It could take 8 days or 800.
Can anyone post a detailed how to on setting up solo mining?
When I start namecoind (on Windows 7) via command prompt it does nothing and says nothing.
When I start namecoind (on Windows 7) via command prompt it does nothing and says nothing.
That's your server window. It will stay blank. Open up a new command prompt to give commands to the server and type in namecoind help for a list of commands.
Can anyone post a detailed how to on setting up solo mining?
When I start namecoind (on Windows 7) via command prompt it does nothing and says nothing.
When I start namecoind (on Windows 7) via command prompt it does nothing and says nothing.
All you have done is start the solo server. You need to setup a miner too.
totally false logic. Why did the price drop when the difficulty at 50K then? As you said, it took a month so it created a namecoin shortage as well.
There's two parts to price, supply and demand. Obviously the demand wasn't there, so the price lagged parity with BTC, so people left NMC mining for BTC mining.
Also, you'll see that I said *SHOULD* which is based on the assumption that demand won't fall (probably should have stated this assumption). It's the future, it's uncertain - this is my take on it.
Alright, I buy that. Nobody has the cystal ball but I'm continue selling while mining namecoin (and I could regret tomorrow
Can anyone post a detailed how to on setting up solo mining?
When I start namecoind (on Windows 7) via command prompt it does nothing and says nothing.
When I start namecoind (on Windows 7) via command prompt it does nothing and says nothing.
Been mining NM for approx 18 hrs now @ 640 MHash/s - found zip LOL
totally false logic. Why did the price drop when the difficulty at 50K then? As you said, it took a month so it created a namecoin shortage as well.
There's two parts to price, supply and demand. Obviously the demand wasn't there, so the price lagged parity with BTC, so people left NMC mining for BTC mining.
Also, you'll see that I said *SHOULD* which is based on the assumption that demand won't fall (probably should have stated this assumption). It's the future, it's uncertain - this is my take on it.
Quote
subsidize a 2 day profit bonanza for people who mine in 2 days what you will mine in the following 40
have you seen future predictions of the next difficulty.. it is going to take them 80 days to kill that beast.
Quote
The exchange rate has little to do with the difficulty (as proven by the recent USD/BTC exchange rate
you cant mine dollars. The point of the price reaching parity is miners going back and forth until it does.
Price isnt reflecting the current difficulty as the current difficulty will only last days.. the price is reflecting futures.. and it looks like the difficulty will rise greatly in a couple of days.
IMO anyways
It won't take 80 days. The difficulty can only go up 4x. Get educated. Go to school. Don't do drugs.
It took nearly a month to finish out difficulty ~50k...if the same thing happens, it's going to take almost double that, or worst case, more people leave than before and it'll take even longer. This will essentially create a NMC shortage during the next difficulty cycle which should cause an increase in the price of NMC.
totally false logic. Why did the price drop when the difficulty at 50K then? As you said, it took a month so it created a namecoin shortage as well.
I am mining namecoin on https://poolmunity.com and it shows me
Estimated earnings:0.58554149
Can this be right Oo??? I am mining with 1,1 Ghash the calculator shows me i am supposed to get 46 a day.
Estimated earnings:0.58554149
Can this be right Oo??? I am mining with 1,1 Ghash the calculator shows me i am supposed to get 46 a day.
Quote
subsidize a 2 day profit bonanza for people who mine in 2 days what you will mine in the following 40
have you seen future predictions of the next difficulty.. it is going to take them 80 days to kill that beast.
Quote
The exchange rate has little to do with the difficulty (as proven by the recent USD/BTC exchange rate
you cant mine dollars. The point of the price reaching parity is miners going back and forth until it does.
Price isnt reflecting the current difficulty as the current difficulty will only last days.. the price is reflecting futures.. and it looks like the difficulty will rise greatly in a couple of days.
IMO anyways
It won't take 80 days. The difficulty can only go up 4x. Get educated. Go to school. Don't do drugs.
It took nearly a month to finish out difficulty ~50k...if the same thing happens, it's going to take almost double that, or worst case, more people leave than before and it'll take even longer. This will essentially create a NMC shortage during the next difficulty cycle which should cause an increase in the price of NMC.
Quote
subsidize a 2 day profit bonanza for people who mine in 2 days what you will mine in the following 40
have you seen future predictions of the next difficulty.. it is going to take them 80 days to kill that beast.
Quote
The exchange rate has little to do with the difficulty (as proven by the recent USD/BTC exchange rate
you cant mine dollars. The point of the price reaching parity is miners going back and forth until it does.
Price isnt reflecting the current difficulty as the current difficulty will only last days.. the price is reflecting futures.. and it looks like the difficulty will rise greatly in a couple of days.
IMO anyways
It won't take 80 days. The difficulty can only go up 4x. Get educated. Go to school. Don't do drugs.
The exchange rate has little to do with the difficulty
But it does have to do with weather people stay here mining or go back to Bitcoins. which is related to difficulty and the price they can sell what they mine immediately to the exchange.
(as proven by the recent USD/BTC exchange rate)
You can't use the same comparison, the USD/BTC exchange rate has little effect on the NMC/BTC exchange rate. The higher difficulty in nmc means that the price HAS to go up for miners to continue mining NMC or they will switch back to BTC to "profit" in the shirt term.
Quote
subsidize a 2 day profit bonanza for people who mine in 2 days what you will mine in the following 40
have you seen future predictions of the next difficulty.. it is going to take them 80 days to kill that beast.
Quote
The exchange rate has little to do with the difficulty (as proven by the recent USD/BTC exchange rate
you cant mine dollars. The point of the price reaching parity is miners going back and forth until it does.
Price isnt reflecting the current difficulty as the current difficulty will only last days.. the price is reflecting futures.. and it looks like the difficulty will rise greatly in a couple of days.
IMO anyways
The exchange rate has little to do with the difficulty (as proven by the recent USD/BTC exchange rate). The difficulty (or the difficulty change more accurately) will somehow affected by the exchange rate though. Looking at the historical data, it seems namecoin used to traded at 0.1BTC.
as soon as the diff rises in 2 days, the theoretical exchange rate would be at 0.0556 (http://dot-bit.org/tools/nextDifficulty.php). even if it doesn't rise that much, you could probably still make profit when you buy now as much as you can and then wait 2-3 weeks to sell.
or the price drops again and you loose a couple of btc
or the price drops again and you loose a couple of btc
Yeah the key will be keeping everyone mining and NOT selling until it goes to .0556 or higher...Don't stop mining just because the market hasn't adjusted yet.
sup?
The only problem with that is people STILL have to mine in order to process blocks to process those buy/sell's on the exchange. If everyone was buying the nmc instead of mining, then no new blocks would be processed and everything would sit in limbo as unconfirmed and unspendable/tradeable.
The idea is to keep NMC mining as profitable as BTC mining. If the exchange rate is even slightly (let's say 1%) higher than BTC, you can earn 1% more by mining NMC and selling them - something a LOT of people might do and that would be MUCH cheaper for NMC enthusiasts than mining NMC at a 25-40% loss.
I believe I just found a block. I used 1 5830 doing solo mining for less than 12 hours, so I guess I was lucky? (Now I switched to pool mining). Question is how do I know how many confirmation has already happen with it? It already appeared in my wallet.
I joined NMC some minutes ago and I really like it! 
Jump to: