Post
Topic
Board Bitcoin Discussion
Re: Increasing difficulty - Bitcoin or Namecoin mining
by
allinvain
on 24/06/2011, 10:00:26 UTC
Dunno guys, but keep in mind that namecoins aren't "money". There is a bunch of namecoin threads so I first suggest you look at those.



BTC isn't money either but you can trade it for money.  It all depends on the current market value of the asset you are trading for money. 

Find the market value of bitcoin and namecoin then figure out how many you can mine each day (at current and projected difficulty levels), multiply by the price and you will have your answer. 

That's where you're wrong. BTC IS money - it's just that it is a different type of money.

Quote
Money is any object or record, that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context.[1][2][3] The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment.[4][5] Any kind of object or secure verifiable record that fulfills these functions can serve as money.

http://en.wikipedia.org/wiki/Money