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Author Topic: Are there graphs of Namecoin value over time?  (Read 2570 times)
ripper234
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June 12, 2011, 09:50:30 PM
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I think Namecoin can be an interesting diversification for BTC holders.

Not so much that I'm confident in the project (not nearly as I am in Bitcoin), but you can invest 1-2% of your BTC in Namecoin just for the heck of it.

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June 12, 2011, 09:55:48 PM
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I really dislike the name "Namecoin" ... BitDNS was much better, I'm wondering why they chose one over the other, but well ... yeah, I do not plan to invest in Namecoin really but it may be because of the name only Grin so others who are more courageous to experiment, let us know how it goes if you do invest in it Wink
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June 12, 2011, 11:46:47 PM
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"BitDNS" is a mouthful and doesn't mean anything to non-techies.

"Namecoin" is more human, and connotes the relationship to Bitcoin.

"Dot-bit" is the future of bitdns/namecoin because it captures the best elements of both, and suggests its function as the domain extension for bitcoin sites.

"Current payment systems simply can’t compete with bitcoin’s fees, security and convenience.  Why spend hundreds of thousands of dollars on bank fees per year and lose hair as money transfers bounce from bank to bank during a wire transfer sometimes taking days to reach its destination, when it can clear within minutes and for mere pennies?  As a currency, no sovereign can match it.  As a payment system, no financial institution can compete with it.  As a distributed network, no government can stop it."     -Chris Horlacher
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June 13, 2011, 05:20:34 AM
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I don't know of any nmc/btc charts yet. The only existing exchange only went up less than 2 weeks ago so not much data anyway. Currently people are estimating their value based on the difficulty ratio between both block chains plus a little premium.

I definitely think diversifying your holdings to namecoin is a good idea. If a cross miner is created then the namecoin network would be able to become as secure as bitcoin's and merchants would probably start accepting it as payment. Since namecoins have at least one more use than bitcoins then it's not inconceivable that they end up being more valuable.

I really dislike the name "Namecoin" ... BitDNS was much better, I'm wondering why they chose one over the other, but well ... yeah, I do not plan to invest in Namecoin really but it may be because of the name only Grin so others who are more courageous to experiment, let us know how it goes if you do invest in it Wink

I invested in namecoin and if I sold them all at the current ask price then I would have tripled my investment.
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June 13, 2011, 06:28:41 AM
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I invested in namecoin and if I sold them all at the current ask price then I would have tripled my investment.

It's a good hedge against BTC. As BTC price goes down, NMC price goes up. But it's even better than being that simple, because NMC difficulty catches up faster, so NMC value goes up in that way, too. Basically NMC price will most likely go up no matter what, with a bonus if BTC goes down. Instead of selling BTC for dollars, I think it's better to sell BTC for NMC. Especially since the next difficulty will be 4.6 times the current one and will start at an estimated time of within 24 hours.

For diversification, I spent some of my BTC on NMC. That way I'm not totally bummed out when BTC goes down. I'm confident BTC will go up in the long run, but it makes it easier to deal with the swings.
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June 13, 2011, 06:39:36 AM
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I really dislike the name "Namecoin" ... BitDNS was much better, I'm wondering why they chose one over the other, but well ... yeah, I do not plan to invest in Namecoin really but it may be because of the name only Grin so others who are more courageous to experiment, let us know how it goes if you do invest in it Wink

Nothing stops you from calling it BitDNS yourself.  Perpaps that name will catch on. That's the beauty of decentralisation.

BitDNS :  the overarching project.

Namecoin: the things you buy in order to buy domain names.

dot-bit :  the ecosystem around BitDNS

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ripper234
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June 13, 2011, 06:59:10 AM
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I wonder if, in the future when we also have FastCoin, SlowCoin, and YourMomsCoin, there will be an IndexCoin that indexes all the different coins like S&P does to the stock market.

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ripper234
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October 10, 2011, 11:30:38 PM
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I wonder if, in the future when we also have FastCoin, SlowCoin, and YourMomsCoin, there will be an IndexCoin that indexes all the different coins like S&P does to the stock market.

And ... we're almost there. I give the IndexCoin (or more likely, a client that maintains a balance of the current coins via trading on the different exchanges automatically to achieve an investment portfolio composed of the coins selected by the user) a few more months before it appears.

Please do not pm me, use ron@mastercoin.org instead
Mastercoin Executive Director
Co-founder of the Israeli Bitcoin Association
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