Post
Topic
Board Mining
Re: Difficulty is going to take such a knock!
by
Chucksta
on 13/06/2011, 21:05:30 UTC
I suspect most people would say the same about a digital cryptocurrency.

The client can be set up literally in 20 seconds and you are ready to recieve cash, so even a hippie selling alpaca socks or a site selling beef jerky (just using forum examples) can start their business right away.

Namecoin requires a lot of tweaking and technical understanding, and does not even work on the 'real' internet.
There isn't even a native 64-bit version for windows.

Nevermind the actual use of NMC, what most are interested in is making money, and up until this afternoon you could make more money mining NMC than BTC.

For example when I stopped mining BTC a week or so ago I was getting 1 BTC per miner per day (5870). I switched over to NMC and was able to make 3 BTC per card per.

I'm afraid NMC has had 2 difficulty increases since I started, and the last one increased it by 5 fold. The next (7 days from now) will double that increase Sad

Major increase was due to the sudden influx of a shed load of people/miners. Besides that there isn't enough demand for the coins to cator for the sudden increase in miners, so when they all start selling, things are not gonna be too pretty.

Anyway, still worth checking out, and monitor both the NMC market and BTC market.

I have said it many times already, but worth saying again, the best way to make money is to buy and sell the coins - and now you have BTC/USD and NMC/BTC

Now, what we really could do with is a way to trade NMC directly to USD - then we'd have BTC/USD, NMC/USD and NMC/BTC.... any FOREX peeps out there will understand how useful that can be Smiley