Bitcoin Forum

There was this topic: https://bitcointalk.org/index.php?topic=17456.msg223734;topicseen#msg223734 but it died without providing full answer.

To recap:
- How much does it cost to register a .bit domain?
Answer: cost is variable and can be calculated here: http://dot-bit.org/tools/domainCost.php
- What is the upkeep on a .bit domain?
Answer: upkeep is variable, see above.
- Can the price vary? If so, how much?
Answer?: yes, it can but depending on what?
- Can I trade USD -> NMC, or do i have to do USD -> BTC -> NMC?
Answer: currently USD -> BTC -> NMC

My question:
1. Is it possible to register a .bit domain for more than 12000 blocks and not have to update the domain for the next 100 years?
2. Why does name_firstupdate lose coins and is it necessary for proper Namecoin functioning?

Key question:
What problem does Namecoin solve really?

As an alternate DNS so far it would seem that namecoin is a complete and utter failure (and I own a .bit domain).

Whether it can morph itself into something more useful (say as some sort of key DB that is merged mined) is still waiting to be seen (but if it can I think that it might find its niche).

I think there was a project of using it as a DNS for .onion domains.
It seemed to be an  appropriate application, and potentially very useful.
I don't know what became of it though.

This is what people thought about SMS in the 1990s. About two years after the first implementations of SMS into the GSM networks, a Motorola spokesman said something like:
"... with the decline of mobile phone call costs ... SMS services will become completely irrelevant soon."


Anyway, no matter if the DNS registration feature of Namecoin survives or not, there are a few new ideas for NMC around such as decentralized patents/shares/debts registration systems, and a messaging service based on the Namecoin block chain (more flexible than Bitmessage).

People use it for that. They also use it for torrent links. Do many people use it for these things? Not really, but it does get used.

no. There were thoughts of making the client update names automatically some day.

It is simple and efficient. It does not hurt the network at all. Should it ever become a problem it can still be changed.

Decentralized key/value storage that has yet to find it's niche before it can start world domination.

Can you provide a link?

Don't count Namecoin out.  It's just getting started. 

The ICANN system holds too much risk to build a business on.

.... More events coming will make that more and more obvious by the day (just like Cyprus is doing for Bitcoin).

Wait for a long lull, and long channel, and everyone bagging namecoin.  Then buy, buy, buy.

If you want to time it, buy at the breakout of a long channel.

Be prepared to hold for a good 5 years while the technology sorts itself out.

In the words of John Templeton, it's during the times of maximum pessimism that the most opportunity is found.

Once we have another DNS catastrophe, namecoins will probably shoot up in value.  The wikileaks DNS takedown was pretty bad, but I have a feeling it could get much much worse.  If governments flex their control over DNS, namecoin will flourish.

That's why a name expires after 36000 blocks if the original owner isn't interested anymore.
Wait 250 days at the most, and you are the new owner if you want to.

The demise of Namecoin has been greatly exaggerated.

The market determines to what extent it has been a success or failure, and the numerous bids for NMC on Vircurex and BTC-E are telling us they have value.

When the banker henchmen jackbooted thugs' capital controls move from Cyprus to Bitcoin, having a technology for distributed DNS will be a "complete and utter" necessity to keep the network routing around the ensuing damage.

 http://dot-bit.org/HowToRegisterAndConfigureBitDomains#Register_a_domain_with_a_registrar

Thank you all your answers and for participating in this thread.

I very rarely come to this forum so I thought the topic died out but it seems it is still alive :)

IMHO for NMC to become a success it has to provide an extremely easy way for the casual user to browse the NMC domains. I mean like browser support by means of at least a Chrome/FF plug-in. A mobile browser support is also crucial but can it be done?

Right now no casual user is able to use NMC for DNS resolving and so those domains are unused and can not generate additional value for their (and NMC) holders. What do you think?