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Author Topic: Namecoin Dying  (Read 7362 times)
Jarredm
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June 22, 2011, 11:38:20 PM
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SO this page http://dot-bit.org/tools/nextDifficulty.php is reporting that the namcoin dificulty will drop by nearly half in the next adjustment.  I know that the bitcoin difficulty dropped in it's infancy but was it this steep?
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tysat
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June 22, 2011, 11:40:17 PM
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Most likely because the profitability of it compared to BTC went down, it'll probably go back up again a lot the next time.
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June 22, 2011, 11:42:26 PM
 #3

Can someone explain how to use namecoin?

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Jarredm
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June 22, 2011, 11:47:05 PM
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Can someone explain how to use namecoin?
It's almost identical to bitcoin and you can use the same miners.  The only major difference right now is that the clients are daemon only.  There is not GUI interface that I have seen yet.  I am using namecoind.exe for windows which can be downloaded from the http://dot-bit.org landing page.  there are also some pages on that site discussing usage.

I noticed that bitparking.com (the only working namecoin pool) is down.  This may account for the foretasted difficulty decrease.
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June 22, 2011, 11:47:41 PM
 #5

Free market at work. Maybe it's timing is off, maybe it's concept isn't appealing enough.. who knows.

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June 22, 2011, 11:49:23 PM
 #6

Tons of people poured into namecoin mining when it was more profitable then btc mining. They all left with the last difficulty rise. Probably will oscillate a bit smaller and smaller as it works towards its own price/difficulty equilbrium
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June 22, 2011, 11:53:22 PM
 #7

edit: lemonginger beat me to it.
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June 23, 2011, 12:02:34 AM
 #8

icann just announced that you will soon be able to register any top level domains. no longer any need to "mine" .bit

http://www.icann.org/
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June 23, 2011, 12:05:07 AM
 #9

icann just announced that you will soon be able to register any top level domains. no longer any need to "mine" .bit

http://www.icann.org/

Isn't the whole point of namecoin that your ownership/control of the domain is cryptographically secure - as secure as the blockchain.

Therefore nobody can "steal" or "confiscate" your domain?

Beware the weak hands!
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June 23, 2011, 12:05:42 AM
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icann just announced that you will soon be able to register any top level domains. no longer any need to "mine" .bit

http://www.icann.org/

Isn't the whole point of namecoin that your ownership/control of the domain is cryptographically secure - as secure as the blockchain.

Therefore nobody can "steal" or "confiscate" your domain?

^^ winner!
Anth0n
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June 23, 2011, 12:11:04 AM
 #11

It's not dying, it's just that people are mining them and immediately selling for BTC so the price is dropping.
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June 23, 2011, 12:17:04 AM
 #12

icann just announced that you will soon be able to register any top level domains. no longer any need to "mine" .bit

http://www.icann.org/

Isn't the whole point of namecoin that your ownership/control of the domain is cryptographically secure - as secure as the blockchain.

Therefore nobody can "steal" or "confiscate" your domain?

^^ winner!

Seriously.  That is the reason I want just one namecoin.

I sell nice dice.  Maybe somebody would like to trade?  One set for 48 NMC?

I haven't even thought about how to price it. Make me an offer.

I welcome suggestions.

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tysat
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June 23, 2011, 12:22:19 AM
 #13

icann just announced that you will soon be able to register any top level domains. no longer any need to "mine" .bit

http://www.icann.org/

Isn't the whole point of namecoin that your ownership/control of the domain is cryptographically secure - as secure as the blockchain.

Therefore nobody can "steal" or "confiscate" your domain?

^^ winner!

Seriously.  That is the reason I want just one namecoin.

I sell nice dice.  Maybe somebody would like to trade?  One set for 48 NMC?

I haven't even thought about how to price it. Make me an offer.

I welcome suggestions.

Namecoin: N974MSGhuKYaZF3JriZhCvLhcB5NTkVJ4s

https://exchange.bitparking.com

Easy way to get some namecoins.
JohnDoe
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June 23, 2011, 12:32:51 AM
 #14

I'm sensing some slight FUD. Are pure bitcoiners worried that Namecoin might become a strong competitor?
Jarredm
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June 23, 2011, 12:44:14 AM
 #15

I love the idea of namecoin and it's possibilities.  The issue is that we can't expect it to take off until a mainstream DNS provider will resolve .bit lookups.  And what happens when someone pays the thousands to ICANN for .bit.  Then who really owns it?  We have to make the .bit tld ubiquitous or else it will fail.  I'm not saying now but eventually mainstream browsers or dns providers will have to give it legitimacy.  Who knows if they will.

/edit Typos
Rodyland
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June 23, 2011, 12:45:05 AM
 #16

I'm sensing some slight FUD. Are pure bitcoiners worried that Namecoin might become a strong competitor?

The idea of namecoin is intriguing.  It's just like bitcoin except you can also spend them to securely register a domain.  It's like times in the past when people used stamps as a defacto currency because they had an intrinsic value - the value of getting a letter from A to B.  Namecoin has an intrinsic value too - the value of an irrevocable domain.  

Now if nobody cares then namecoins are little more than an interesting curio.  However if they "take off" then who knows where they'll go?

Beware the weak hands!
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JohnDoe
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June 23, 2011, 12:55:37 AM
 #17

Namecoin can do more than just DNS:

Namecoin is not a domain name system, but a name→value associated array. So there isn't a need for a hack or fork. That's the beauty of the whole idea! Cheesy

A Namecoin "name" is composed of slash-seperated substrings, first of which is the "application specifier".

The current domain name system based on Namecoin uses the "d/" application specifier, with "s/" OR "dd/" proposed to specify extra domain data. That is, if you register "d/example", the value will contain information for example.bit.
Rob P.
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June 23, 2011, 01:23:38 AM
 #18

icann just announced that you will soon be able to register any top level domains. no longer any need to "mine" .bit

http://www.icann.org/

Of course they'll cost $185,000, and $55,000 / year.  No biggie, I have Bitcoins.

http://www.christianpost.com/news/icanns-new-top-level-domains-to-cost-185000-51354/

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June 23, 2011, 01:35:02 AM
 #19

The problem is how do you convince the whole world to go against ICANN regulation and support .bit namecoin? My guess is it's almost impossible. So namecoin will remain an obscure experiment similar to OpenNIC

icann just announced that you will soon be able to register any top level domains. no longer any need to "mine" .bit

http://www.icann.org/

Isn't the whole point of namecoin that your ownership/control of the domain is cryptographically secure - as secure as the blockchain.

Therefore nobody can "steal" or "confiscate" your domain?

If my post has been helpful, send me some love -> BTC: 1kokojUapmWqCqPw3Ch2rjcVh57tJEzka | PPC: PDyXAgA8eH47gokVW6zVZPSuu15aao5nZF | Bitshares: kokojie
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marcus_of_augustus
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June 23, 2011, 01:39:12 AM
 #20

Silk Road now accepting Namecoin!

Just kidding, that will be when namecoin gets a user gui and grows up a little ... its got potential, since it is NOT bitcoin but can be traded just like them. If the schumer brigade "make bitcoin illegal" where's people gonna turn next ....
oh look, there's Namecoin just sitting waiting for a dance over there .... at this point, Namecoin is the tent peg that is conceptually holding the main pole up legally, philosophically .... whatta they gonna do ban all bitcoin-like p2p code??

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