Bitcoin Forum
June 05, 2024, 11:29:30 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Bitcoin Forum > Bitcoin > Bitcoin Discussion > Are all Namecoins in risk of being invalidated?
Pages: [1]
« previous topic next topic »
  Print  
Author Topic: Are all Namecoins in risk of being invalidated?  (Read 1615 times)
ripper234 (OP)
Legendary
*
Offline Offline

Activity: 1358
Merit: 1003


Ron Gross


View Profile WWW
July 22, 2011, 08:55:51 AM
 #1
From the wiki:

"[When merged mining starts happening] ... for namecoin users this means a major change, as the blockains won't be compatible between the version below block 24k and above 24k."

Am I reading this right? Will all Namecoins that were mined until now become worthless? I'm not sure how to interpret the above statement.

(Assumption: merged mining will happen soon, and will far outweigh any NMC mining done in the past)
Please do not pm me, use ron@bitcoin.org.il instead
Mastercoin Executive Director
Co-founder of the Israeli Bitcoin Association
ripper234 (OP)
Legendary
*
Offline Offline

Activity: 1358
Merit: 1003


Ron Gross


View Profile WWW
July 22, 2011, 08:57:49 AM
 #2
Disregard, I just read further down:

Will NMC mined prior to block 24k become invalid?

No, not at all. The old blocks are checked based on the old rules. Thus you don't need to worry.
Please do not pm me, use ron@bitcoin.org.il instead
Mastercoin Executive Director
Co-founder of the Israeli Bitcoin Association
notme
Legendary
*
Offline Offline

Activity: 1904
Merit: 1002


View Profile
July 22, 2011, 09:02:49 AM
 #3
Quote from: ripper234 on July 22, 2011, 08:57:49 AM
Disregard, I just read further down:

Will NMC mined prior to block 24k become invalid?

No, not at all. The old blocks are checked based on the old rules. Thus you don't need to worry.


Right, the the only waste is the mining done after the new client gets half the hash power by those who haven't upgraded yet.
https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
jtimon
Legendary
*
Offline Offline

Activity: 1372
Merit: 1002


View Profile WWW
July 22, 2011, 11:04:24 AM
 #4
When is that soon?
What's the approximate date for the block 24K?
Doesn't bitcoin need any change?

Merged mining will be a huge step forward for block chain crypto-currencies IMO.
2 different forms of free-money: Freicoin (free of basic interest because it's perishable), Mutual credit (no interest because it's abundant)
jackjack
Legendary
*
Offline Offline

Activity: 1176
Merit: 1255


May Bitcoin be touched by his Noodly Appendage


View Profile
July 22, 2011, 11:11:48 AM
 #5
Quote from: jtimon on July 22, 2011, 11:04:24 AM
When is that soon?
What's the approximate date for the block 24K?
Doesn't bitcoin need any change?

Merged mining will be a huge step forward for block chain crypto-currencies IMO.

End of year I believe
Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
jtimon
Legendary
*
Offline Offline

Activity: 1372
Merit: 1002


View Profile WWW
July 22, 2011, 12:27:23 PM
 #6
Quote from: jackjack on July 22, 2011, 11:11:48 AM
Quote from: jtimon on July 22, 2011, 11:04:24 AM
When is that soon?
What's the approximate date for the block 24K?
Doesn't bitcoin need any change?

Merged mining will be a huge step forward for block chain crypto-currencies IMO.

End of year I believe

Oh, I was expecting a sooner soon.
2 different forms of free-money: Freicoin (free of basic interest because it's perishable), Mutual credit (no interest because it's abundant)
datguywhowanders
Member
**
Offline Offline

Activity: 112
Merit: 10



View Profile
July 22, 2011, 12:55:37 PM
 #7
I obviously haven't been keeping up as well as I should because I have no idea what you guys are talking about in terms of merged bitcoin/namecoin mining. Anyone got a link where I can read more about this?
Donations Welcome: 163id7T8KZ6MevqT86DjrBF2kfCPrQsfZE
jtimon
Legendary
*
Offline Offline

Activity: 1372
Merit: 1002


View Profile WWW
July 22, 2011, 12:57:36 PM
 #8
Quote from: datguywhowanders on July 22, 2011, 12:55:37 PM
I obviously haven't been keeping up as well as I should because I have no idea what you guys are talking about in terms of merged bitcoin/namecoin mining. Anyone got a link where I can read more about this?

I started here.
2 different forms of free-money: Freicoin (free of basic interest because it's perishable), Mutual credit (no interest because it's abundant)
Stephen Gornick
Legendary
*
Offline Offline

Activity: 2506
Merit: 1010


View Profile
July 22, 2011, 11:27:34 PM
 #9
Quote from: jtimon on July 22, 2011, 11:04:24 AM
Doesn't bitcoin need any change?

No, there is no change to Bitcoin.  After this is implemented Namecoin becomes dependent on Bitcoin but not the reverse.

Specifically, read the part about the Merkle tree and:

Quote
The coinbase TX is a regular BitCoin coinbase (that makes new coins and claims fees), except the scriptSig on its input contains an extra entry that todays scriptSigs don't. That extra entry is a hash of the NameBlock structure.
  - http://forum.bitcoin.org/index.php?topic=7219.msg105915#msg105915
Unichange.me

            █
            █
            █
            █
            █
            █
            █
            █
            █
            █
            █
            █
            █
            █
            █
            █
Pages: [1]
  Print  
Bitcoin Forum > Bitcoin > Bitcoin Discussion > Are all Namecoins in risk of being invalidated?
 « previous topic next topic »
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!