Namecoin is based on Bitcoin, but it uses a different block chain. Essentially, they are two different "commodities". You have to obtain namecoins in order to p

Namecoin is based on Bitcoin, but it uses a different block chain. Essentially, they are two different "commodities". You have to obtain namecoins in order to purchase .bit names. However, you can purchase namecoins with bitcoins using bitcoin-namecoin exchanges like this one: https://exchange.bitparking.com/main https://exchange.bitparking.com/main Also, to answer your question, mining is really ineffective for home users. I mean, if you have energy to waste on it, that's fine, but you'll find it's more economical to simply buy the bitcoins through bitcoin exchanges (Tradehill, MtGox) than it is to mine them.