You want people to mine namecoins? I have said this a million times - do by mining bitcoins and BUY namecoins. Heck, do with GPU power that you leave off by namecoin mining if you want (spend 40% of your BTC revenue to buy NMC).
Begging other miners for charity will not do it. Mining namecoins more and the sad price vs bitcoins is how you get the EA miners for NMC.
Stop mining NMC and buy supplies to raise the price. As soon as the price hits NMC say .05 you will definitely see people going there. That's why the grasshopper epidemic descended on NMC when profitable mined it and left when it did not.
Topic: We should all keep a GPU pointed @ Namecoin mining! (Read 4499 times)
Another way to boost Namecoin is buying Namecoins. This will force the price up and attract people to start mining again.
Maybe a nice investment?
With current prices, that's actually the ONLY useful way to boost namecoin mining.Maybe a nice investment?
As long as prices are below the difficulty ration on http://dot-bit.org/tools/nextDifficulty.php, it is not wise to mine NMC directly, but to mine BTC and buy NMC with that money instead. This increases NMC prices and incentivizes more people to mine NMC (especially once you hit that "equilibrium" point!).
I suspect namecoins will gain in value in the next 6 months or the project will die.
Another way to boost Namecoin is buying Namecoins. This will force the price up and attract people to start mining again.
Maybe a nice investment?
With current prices, that's actually the ONLY useful way to boost namecoin mining.Maybe a nice investment?
As long as prices are below the difficulty ration on http://dot-bit.org/tools/nextDifficulty.php, it is not wise to mine NMC directly, but to mine BTC and buy NMC with that money instead. This increases NMC prices and incentivizes more people to mine NMC (especially once you hit that "equilibrium" point!).
This method you speak of is only unprofitable if you are having to immediately convert your namecoins to bitcoins and then to the currency of your choice.
I suspect namecoins will gain in value in the next 6 months or the project will die.
I'll have all the NMC I care to have once they become free as a side effect of bitcoin mining come October or December. With the few I have left over it's likely I'll already be able to register a few hundred or possibly thousand domains. What do I need more for?
As far as I understood the system, you need to constantly pay NMC to keep your domains registered.I'll have all the NMC I care to have once they become free as a side effect of bitcoin mining come October or December. With the few I have left over it's likely I'll already be able to register a few hundred or possibly thousand domains. What do I need more for?
As far as I understood the system, you need to constantly pay NMC to keep your domains registered.
Not being able to send name coins is a good thing. That means the NMC currently deposited to the exchange is the whole of supply. This means even if the price skyrockets people with big NMC stockpiles won't be able to cash out until BTC miners switch to NMC mining because...
The network is slow!
But hey, what do I know. I only cash out during the profitable times, y'all go ahead and mine at a 40% loss compared to mining BTC and going long NMC via trading in the 2 months between those bonanzas. I certainly can't convince people that mining NMC and getting/holding NMC have absolutely nothing to do with each other, I'll just mine in 2 days what you mine in a month and if for some strange reason I want more meanwhile I can buy it at a 25-40% discount.
I'll have all the NMC I care to have once they become free as a side effect of bitcoin mining come October or December. With the few I have left over it's likely I'll already be able to register a few hundred or possibly thousand domains. What do I need more for?
The network is slow!
But hey, what do I know. I only cash out during the profitable times, y'all go ahead and mine at a 40% loss compared to mining BTC and going long NMC via trading in the 2 months between those bonanzas. I certainly can't convince people that mining NMC and getting/holding NMC have absolutely nothing to do with each other, I'll just mine in 2 days what you mine in a month and if for some strange reason I want more meanwhile I can buy it at a 25-40% discount.
I'll have all the NMC I care to have once they become free as a side effect of bitcoin mining come October or December. With the few I have left over it's likely I'll already be able to register a few hundred or possibly thousand domains. What do I need more for?
Can someone explain how to mine namecoins? Is it through a pool like bitcoins or what?
Does it have to be done through command line or is there a client for it?
Do namecoins expire? I'm sure I heard something about them expiring? Or is that just the domains?
Thanks!
Mining namecoins is EXACTLY like mining bitcoinDoes it have to be done through command line or is there a client for it?
Do namecoins expire? I'm sure I heard something about them expiring? Or is that just the domains?
Thanks!
No they don't expire, just domains
Where do I get started? As in where are the pools?
Just run namecoind to have a Namecoin address, then you can mine
Can someone explain how to mine namecoins? Is it through a pool like bitcoins or what?
Does it have to be done through command line or is there a client for it?
Do namecoins expire? I'm sure I heard something about them expiring? Or is that just the domains?
Thanks!
Mining namecoins is EXACTLY like mining bitcoinDoes it have to be done through command line or is there a client for it?
Do namecoins expire? I'm sure I heard something about them expiring? Or is that just the domains?
Thanks!
No they don't expire, just domains
You can mine namecoins at PoolMunity.
With exactly the same minersettings you are using currently, you just point the miner
to another url
Can someone explain how to mine namecoins? Is it through a pool like bitcoins or what?
Does it have to be done through command line or is there a client for it?
Do namecoins expire? I'm sure I heard something about them expiring? Or is that just the domains?
Thanks!
Mining namecoins is EXACTLY like mining bitcoinDoes it have to be done through command line or is there a client for it?
Do namecoins expire? I'm sure I heard something about them expiring? Or is that just the domains?
Thanks!
No they don't expire, just domains
Where do I get started? As in where are the pools?
Can someone explain how to mine namecoins? Is it through a pool like bitcoins or what?
Does it have to be done through command line or is there a client for it?
Do namecoins expire? I'm sure I heard something about them expiring? Or is that just the domains?
Thanks!
Mining namecoins is EXACTLY like mining bitcoinDoes it have to be done through command line or is there a client for it?
Do namecoins expire? I'm sure I heard something about them expiring? Or is that just the domains?
Thanks!
No they don't expire, just domains
Can someone explain how to mine namecoins? Is it through a pool like bitcoins or what?
Does it have to be done through command line or is there a client for it?
Do namecoins expire? I'm sure I heard something about them expiring? Or is that just the domains?
Thanks!
Does it have to be done through command line or is there a client for it?
Do namecoins expire? I'm sure I heard something about them expiring? Or is that just the domains?
Thanks!
It doesn't matter if you can send NMC to an exchange, as long ys you can send BTC to buy them! If you buy enough to drive the price over 0.0556, you will have far more hash rate all of a sudden than you can imagine. Until you reach that point, you are more profitable mining BTC anyways, so there's no point in mining NMC (especially if you want to sell them - in fact, if you want to sell them, you should buy even more to create a bubble!
I am still mining nmcs, and currently for my loss. Should I go back to btc?
What happens if nobody mines? will the diff get stuck where it is?
What happens if nobody mines? will the diff get stuck where it is?
Yup, and transactions will not be completed so no-one can pay with them or send them to an exchange.
I am still mining nmcs, and currently for my loss. Should I go back to btc?
What happens if nobody mines? will the diff get stuck where it is?
What happens if nobody mines? will the diff get stuck where it is?
You want people to mine namecoins? I've said this a million times -- do it by mining bitcoins and BUYING namecoins. Heck, do it with the GPU power you give up by mining namecoins if you wish (spend 40% of your BTC earnings buying NMC).
Begging other miners for charity won't do it. Mining more namecoins and depressing their price vs bitcoins is how you get FEWER miners for NMC.
Stop mining NMC and buy up the supply to increase the price. Once price of NMC hits say .05 you will definitely see people go there. That's exactly why the locust plague descends on NMC when it's profitable to mine them and leaves when it's not.
Begging other miners for charity won't do it. Mining more namecoins and depressing their price vs bitcoins is how you get FEWER miners for NMC.
Stop mining NMC and buy up the supply to increase the price. Once price of NMC hits say .05 you will definitely see people go there. That's exactly why the locust plague descends on NMC when it's profitable to mine them and leaves when it's not.
You are right, but we need some miners to get the transactions done
And who talks about charity? Bitcoin mining wasn't always profitable... But some people did it anyway... And you know what happened... It wasn't charity...
I already bought about >2000 Namecoins to hold them for at least a year (450 of them are mined @ Poolmunity).
In december, I want to have about 10,000 of them.
Maybe Namecoin fails... But if it becomes a success, I don't want to be the one who says "I wish I would, back then..."
You want people to mine namecoins? I've said this a million times -- do it by mining bitcoins and BUYING namecoins. Heck, do it with the GPU power you give up by mining namecoins if you wish (spend 40% of your BTC earnings buying NMC).
Begging other miners for charity won't do it. Mining more namecoins and depressing their price vs bitcoins is how you get FEWER miners for NMC.
Stop mining NMC and buy up the supply to increase the price. Once price of NMC hits say .05 you will definitely see people go there. That's exactly why the locust plague descends on NMC when it's profitable to mine them and leaves when it's not.
Begging other miners for charity won't do it. Mining more namecoins and depressing their price vs bitcoins is how you get FEWER miners for NMC.
Stop mining NMC and buy up the supply to increase the price. Once price of NMC hits say .05 you will definitely see people go there. That's exactly why the locust plague descends on NMC when it's profitable to mine them and leaves when it's not.
Another way to boost Namecoin is buying Namecoins. This will force the price up and attract people to start mining again.
Maybe a nice investment?
With current prices, that's actually the ONLY useful way to boost namecoin mining.Maybe a nice investment?
As long as prices are below the difficulty ration on http://dot-bit.org/tools/nextDifficulty.php, it is not wise to mine NMC directly, but to mine BTC and buy NMC with that money instead. This increases NMC prices and incentivizes more people to mine NMC (especially once you hit that "equilibrium" point!).
But if you mine Namecoins, the difficulty will not go down as the estimates are, or eventually go up, which causes the price of Namecoin increasing.
In the end it all ends the same.
Difficulty follows price, not the other way round! Prices are currently too low, so there are only few miners.
If you buy, prices go up and more miners come.
Currently you can buy nearly twice as many Namecoins when mining Bitcoins than you can mine directly. Whoever mines Namecoins directly at the moment must be a very strong idealist or simply not giving a damn about income.
If you mine NMC right now, you get only ~half of what you would earn by mining Bitcoins + buying. If you even sell the mined Namecoins at the current dumping prices, you help keeping Namecoin mining unattractive.
As long as the exchange rate is that low, anyone who wants to mine + get Namecoins should mine BTC and buy NMC.
Another way to boost Namecoin is buying Namecoins. This will force the price up and attract people to start mining again.
Maybe a nice investment?
With current prices, that's actually the ONLY useful way to boost namecoin mining.Maybe a nice investment?
As long as prices are below the difficulty ration on http://dot-bit.org/tools/nextDifficulty.php, it is not wise to mine NMC directly, but to mine BTC and buy NMC with that money instead. This increases NMC prices and incentivizes more people to mine NMC (especially once you hit that "equilibrium" point!).
But if you mine Namecoins, the difficulty will not go down as the estimates are, or eventually go up, which causes the price of Namecoin increasing.
In the end it all ends the same.
Another way to boost Namecoin is buying Namecoins. This will force the price up and attract people to start mining again.
Maybe a nice investment?
With current prices, that's actually the ONLY useful way to boost namecoin mining.Maybe a nice investment?
As long as prices are below the difficulty ration on http://dot-bit.org/tools/nextDifficulty.php, it is not wise to mine NMC directly, but to mine BTC and buy NMC with that money instead. This increases NMC prices and incentivizes more people to mine NMC (especially once you hit that "equilibrium" point!).
That's right, "everyone" wants merged mining, but they never look up how
it'll actually take to get there.
it'll actually take to get there.
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