I looked at one of the older ones, and will you be coloring it later so far its quite good.
They are getting colored. |
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I'd rather get out of my room and get creative with the girl I like instead of trying to anticipate everything she could say, try to guess what she thinks about me, try to come up with a master plan or anything. Same thing goes for bitcoin, I'd rather see it getting out there confronting itself to reality rather than sitting in its room trying to imagine what the NSA people will come up with. Time is also on NSA side  Not if we make it extraordinary harder for NSA to discover new holes, cause we plugged them all. A tiger team IS confronting reality. It just find holes through any mean possible. Find security vulnerabilities are like vaccination. |
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I think you're over estimating the risk of government attack while underestimating the benefits of lots new people getting to know bitcoin and contributing to the strength of the network.
Time is on our side. There is no need to test this proposition when we can gradually grows and then catch the government off guard. Than they can't do shit. I'd rather find out sooner than later.
Fund security bounties, or form a tiger team instead of letting a hostile force performing it for us. Max chance for accomplishing our goal, not max chance for extra publicity. Anyway, that's just one of the PR opportunities that we have now, I think the other very promising opportunity is getting a headless bitcoin client included in the debian repos.
There are plenty of PR opportunity that doesn't make us get additional scrutiny from the government. |
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I read your draft bitcoin DNS spec Nanotube and theymous...very interesting. And it's fascinating that ribuck also came up with a very similar design independently.
Simultaneous inventions are not surprising. This phenomenon had been happening throughout the history of science and invention. |
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Do we have a consensus on nanotube's proposal? Any objection?
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The free market are "self-regulating" ya know?
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My concern is that there would be a rush to grab hot domains. I would expect that the first blocks generated with this system will all be maximum size and filled with the equivalent of sex.com. These domain names are worth millions of dollars, if the system succeeds. I suppose transaction fees would be enormous, otherwise miners will just fill blocks with their own registrations. Ordinary transactions would be crowded out, if this were part of Bitcoin.
Speculation is natural; even healthy. |
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Look, we don't need to take extreme risk to win. Time is on our side.
Once hyperinflation break out, the government can't do much of anything. By that time, the bitcoin economy would be ready to take on the economic load of the collapse.
We have no idea about the rate of growth and the ability of government to find flaws to attack bitcoin.
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Ribuck: I believed that is a brilliant hack. We finally have intrinsic value for bitcoin!
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Trying to predict the exact numbers required is equal to central economic planning, and pointless.
<--- In another thread. So there's an economic calculation problem. We...cannot reliably predict how many domain name registration are needed each block. So we going to need to price generation of blocks, somehow? |
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Yes I'll do this. Don't panic!
But first, I've thought of a design for DomainChain that is simple, elegant, powerful, and very easily integrated with Bitcoin. I just need to think it through a bit more before I post it here so that I don't make a complete fool of myself.
We won't make fun of you. On my Bitcoiner honor! |
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Look like we got a supermajority of libertarians, and then the libertarians are composed mostly of anarchists.
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We need a wiki real bad so Rhorning can write down what he means.
RRRRRRRRRRRRRibuck?
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No, that coin is received by the miner processing the transactions and handled just like coin transaction fees are right now in Bitcoin.
So domain name generation are limited by the velocity of miners spending, but then they have to generate a block to get the coin. |
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This is another currency that is essentially identical to Bitcoin, but with a few tweaks and miners more concentrated on working with domain records. We could put this into the main Bitcoin protocol, but then we would have to change the Bitcoin miners as well.
So if you spent a coin to register a domain, then it stay frozen until the domain expire? |
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The exchanges might really appreciate at least some fractional quantities to play with, although that could also be internal to the exchange itself. The real advantage is for some granularity in terms of competing miners which might want to snag a few additional registrations. It would also help in terms of setting up a per-kilobyte charge for people throwing stuff into the coin transactions too. Attacks on the network can also happen through filling up coin transaction information with useless junk, and charging a fee for that can help stop or at least slow down such a flood attack and at least put cost to such an attack that must be borne by the person making the transaction. Such a charge may require at least some fractional coins, even if it isn't nanocoins necessarily.
Let me this straight: so we use fractional coins to prevent network spamming? Or is it bitcoin? |
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I'm not sure how it would work to only create one coin per block. Would this only buy the creation of one domain name?
The reason I like the idea of fractional coins is it would give more flexibility in transaction fees. If it costs one coin to register a domain, it might make sense that a good size for the transaction fee would be fractional.
Umm, each coin stand for one domain. However, I don't think we need transaction fee. This is not bitcoin after all. The incentive for 50 coins each block they generate ARE the transaction fee. Maybe? I am worried about people who spam change to the DNS database? |
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Remember, we can't let those .p2p dudes beat us to the punch!
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Yup, they're a mob, alright.
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