Friday, June 10, 2011

Bitcoin update and namecoin discovery

So yesterday I started to mine a full day from 7:00 to 7:40 (with a small crash in between) and I averaged about .21 in payout to my wallet from slush's pool, with about another .04 btc. So in a 12 hour period I mined about .25 btc from 1 ~280mhash/s card. I found some more power supply cables so I can add my second card which I may do tomorrow. Tonight I'll be going out. Once I put the second card in I expect to get about 1 coin a day from it. With any luck I'll be able to leave it up for about a month or so.

So then yesterday I discovered a new type of digital currency. It's called namecoin based off of bitcoin protocal, but it ads a dns registration and distributed dns to the system. DNS registration is not decentralized from what I can tell so far, but the dns resolution is? We'll see but at current difficulty of ~2500 I could mine about 100 namecoin a day. They're convertable to BTC, but I'm not exactly sure the going rate yet. They have an exchange but prices seem a bit low right now. I suspect that once difficulty increases comparable to the current bitcoin difficulty it will increase in price. What I like about namecoin is two things, I'm getting in early, and it has an actual purpose for the coins which isn't something that bitcoin has other than a medium of exchange.

Will have to keep an eye on this as I may snag one of my brothers old computers put in my old video card and set that in the basement to mine namecoins.

1 comment:

  1. hey ddraig help me mine namecoins; blaupunk doesnt know how. from muhdick

    ReplyDelete