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2021  Bitcoin / Bitcoin Discussion / Re: What Problem Will Namecoin Help Solve Exactly? on: May 04, 2011, 09:17:50 PM

I meant the namecoin client :S

I don't think it will ever handle DNS lookup. These are more appropriately handled by...DNS server.
2022  Bitcoin / Bitcoin Discussion / Re: Let's add up the KNOWN lost bitcoins on: May 04, 2011, 09:12:49 PM
0.00000000
2023  Other / Meta / Re: Should Namecoin Have its Own Forum Section? on: May 04, 2011, 09:11:32 PM

The limited rate of domain creation is a more important issue than the total number of useful domains. When demand outpaces supply, prices will quickly become uncompetitive. The price of registrations should reflect the resources that are actually being used by the network (disk space, etc.), as well as the demand for particular names. This is properly done through the free market. Prices should not be fixed according to some formula, which is what Namecoin does.

As far as I know, namecoins get destroyed when you register, but the destroyed amount of namecoin rapidly drop off to insignificant.
2024  Other / Meta / Re: Should Namecoin Have its Own Forum Section? on: May 04, 2011, 08:51:18 PM
There's a limited number of domains, which is unsustainable. No formula will be able to predict demand.

I beg your pardon?
2025  Bitcoin / Bitcoin Discussion / Re: What Problem Will Namecoin Help Solve Exactly? on: May 04, 2011, 08:37:20 PM

The namecoin software should do this automatically. It will eventually, I assume?

Namecoin is just the mechanism for registrating domains.
2026  Economy / Marketplace / Re: MHNGZ IPO! on: May 04, 2011, 08:36:32 PM
Nope. No reason to invest in a dreambusiness.
2027  Economy / Economics / Re: A modest amount of inflation should be part of bitcoin on: May 04, 2011, 08:35:02 PM

That is the standard argument that in a deflationary environment after some time people will get tired of deferring consumption and will start to consume and that will end the deflation of its own accord.  But those arguments were made historically for closed economies or economies where external trade was minor compared to GDP (say <10%).  What we are talking about is the exchange rate between bitcoin and a much larger fiat economy.  That is why I said "They would rather hold them since they are rising and spend fiat currency which is falling" .  They do have a choice, they can use fiat currency to eat for now.  Human nature is they will hold BTC while it is rising, and as soon as it start to fall they will try to buy everything in sight with BTC, it will fall faster and then merchants won't want to take it anyway.  We don't have an experiment of a diversified mostly closed economy that can supply most its needs internally that runs 100% on BTC.   If we did we should see inflation of 43% - grwoth rate.

Bollocks. I have to resist the urge to spend bitcoin, as it's only "1 or 2 BTC" for y product.
2028  Other / Meta / Re: Should Namecoin Have its Own Forum Section? on: May 04, 2011, 08:33:24 PM
There aren't enough posts about it yet. I expect Namecoin to fail, anyway, since its economic model is broken.

Why is it broken? The cost of registrating domains will fall 50% over whatever period I forgot.
2029  Other / Meta / Re: Should Namecoin Have its Own Forum Section? on: May 04, 2011, 08:27:59 PM

No kidding. Pretty much everything should have it's own forum, but not here.

Why not?
2030  Economy / Marketplace / Re: MHNGZ IPO! on: May 04, 2011, 08:26:43 PM
I will not invest until I see a site.

Beside, what distinguish your site from the competition?
2031  Bitcoin / Bitcoin Discussion / Re: What Problem Will Namecoin Help Solve Exactly? on: May 04, 2011, 08:23:12 PM
So in a sense... this could be used the entire world over? For all domain names? Not just for bitcoin?

Or is it a bitcoin-centric model?

Just hook up your resolv.conf and you're ready to access *.bit domains.
2032  Other / Meta / Should Namecoin Have its Own Forum Section? on: May 04, 2011, 08:20:38 PM
I think it's inevitable that the namecoin discussion will become an entire category in itself.
2033  Bitcoin / Bitcoin Discussion / Re: What Problem Will Namecoin Help Solve Exactly? on: May 04, 2011, 08:19:02 PM
Yes, it is designed to evade governmental control over domain names.
2034  Economy / Marketplace / Re: Ubitex: In-person Bitcoin exchange [SERVER UP] on: May 04, 2011, 07:27:59 PM
I'm not sure anyone is selling their shares, but you can put up a buy order on the system, if the price is good enough I think someone will sell.


Is it anything like how mtgox works?
2035  Economy / Economics / Re: If all of the world's paper currency was replaced... on: May 04, 2011, 06:24:58 PM

Interesting, yes.  We will all be dead before this day comes, however.
[/quote]

I believe you consistently underestimate the speed of change.
2036  Economy / Marketplace / Re: The Bitcoin Sun - Looking for Subeditors [10 BTC / week] on: May 04, 2011, 05:51:26 AM
I better get my game up soon.  Wink
2037  Other / Obsolete (selling) / Re: [Selling service] I'll draw cool stickfigures for bitcoins on: May 04, 2011, 12:59:36 AM

Indeed, this definitely worked out better than expected. Any ideas for increasing demand?

Also, my supply of time is fixed, so increased demand will inevitably yield increased prices.

- shazow

Create a webcomic and stick a banner ads(Operation Fabulous or the other bitcoin advertising network I forgot) on it. Promote the hell out of it and let the ads fry some of the cost of hosting it.

Once you create a loyal fanbase, go in for the money kill.

Heck, you could even sell swags of your stick figure drawing, or even signed print.
2038  Other / Obsolete (selling) / Re: [Selling service] I'll draw cool stickfigures for bitcoins on: May 04, 2011, 12:48:15 AM
49 BTC times 3.3 equal 161.70 USD divided by 8 hours come out 20.125 per hours worked. Not bad at all.


If you ever got increased demand, it is conceivable that you could make a living off of it.
2039  Other / Obsolete (selling) / Re: [Selling service] I'll draw cool stickfigures for bitcoins on: May 04, 2011, 12:24:42 AM

For what it worths, I really think you have a real talent for this stuff.  I'm pretty sure you'll make quite some bitcoins with this activity.  Keep on the good work.

I think he already got a good healthy sum of bitcoin.
2040  Bitcoin / Bitcoin Discussion / Re: The Bitcoin Weekly Comes Alive on: May 03, 2011, 08:46:53 PM
http://bitcoinweekly.com/articles/bitcoin-comic-if-public-keys-were-carrots


Does the public keys as carrot analogy works? You decide!
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