Post
Topic
Board Altcoin Discussion
Re: Who is mining namecoins and why?
by
grod
on 09/07/2011, 00:05:11 UTC
At the moment namecoin miners (whose number appears to be increasing ?!?) are donating 55882.45237847/1564057.45=.03573, with .03573/.0275=1.3.  In other words, they're donating 30% of their computing power to bitcoing miners.  It's amazing.  The worse their payback, the more miners pile on namecoin to lose money...

It's like running 3 5830s in your rig, but with one pointed at the test pool.

The mind just boggles.  Now, I can definitely see getting namecoin compiled and ready to go by the 12th (which is when it looks like block 16128 rolls around and we all need to be ready to pile on namecoin, but still.  It makes negative sense to mine NMC now.  I guess I should thank them for their donations though...

Now, when the new difficulty does happen I fully expect the NMC network computing power to increase not just by a factor of 10 like last time, but more likely by a factor of 100 if not 1000.  We should have all 2016 blocks mined out in well under 24 hours.  Good thing the chumps are willing and able to pick up the slack during the month+ long "subsidize" time to make several hour "profit" time that much better.