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Author Topic: Namecoin Dying  (Read 7363 times)
JohnDoe
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June 23, 2011, 02:21:13 AM
 #21

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

If the owning vs leasing argument doesn't convince people then the very low price of registration and renewal might.
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June 23, 2011, 02:37:39 AM
 #22

You are kidding right? namecoin also needs to be renewed, and currently it's several times more expensive than just registering a ICANN domain with godaddy.

Also the cheapest price in the world would do nothing, if the whole world don't support the protocol.

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

If the owning vs leasing argument doesn't convince people then the very low price of registration and renewal might.

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Dobrodav
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June 23, 2011, 02:50:17 AM
 #23

There is some steps already done to lower domain name price. Actually the price should be symbolic from the start, but speculating, rise price to much.

We will  meet in not-so-distant future.
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June 23, 2011, 03:00:23 AM
 #24

You are kidding right? namecoin also needs to be renewed, and currently it's several times more expensive than just registering a ICANN domain with godaddy.

Also the cheapest price in the world would do nothing, if the whole world don't support the protocol.

Several times more expensive huh? With the current rates it costs around $7.5 usd to register .bit and it will keep on getting lower. Renewal costs $0. Meanwhile godaddy costs $12 per year.
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June 23, 2011, 03:10:11 AM
 #25

Namecoin Dying?
A few days ago there was a thread about how great it was doing.

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June 23, 2011, 05:12:29 AM
 #26

There is a namecoin gui. http://dot-bit.org/forum/viewtopic.php?f=8&t=93&sid=302e43c8754997fc355416af00c70b28 and looks to be a wallet type gui in the works. check the posts here http://dot-bit.org/forum/viewforum.php?f=8

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June 23, 2011, 01:22:10 PM
 #27

You are kidding right? namecoin also needs to be renewed, and currently it's several times more expensive than just registering a ICANN domain with godaddy.

Also the cheapest price in the world would do nothing, if the whole world don't support the protocol.

Several times more expensive huh? With the current rates it costs around $7.5 usd to register .bit and it will keep on getting lower. Renewal costs $0. Meanwhile godaddy costs $12 per year.

well A few days ago it was at $20+, I guess it dropped in value recently.

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July 12, 2011, 04:09:35 AM
 #28

Anyone wanna sell me a few namecoins for BTC?


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July 12, 2011, 05:51:22 AM
 #29

Namecoin is certainly not 'dying'. In fact the development team has been very active, and activity has been picking up on the exchange. It seems to me that some people are getting nervous that all their money is in Bitcoins.

If you left all your money in Bitcoins, and walked away from a year and came back, there's a chance it could be worth 0. Not because governments made it illegal, or because more people were goxed... but because Namecoin has more features and simply made it obsolete in comparison, so it fell into disuse.

Namecoin can do everything that Bitcoin can do, and also the DNS stuff.
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July 12, 2011, 06:24:28 AM
 #30

Namecoin is certainly not 'dying'. In fact the development team has been very active, and activity has been picking up on the exchange. It seems to me that some people are getting nervous that all their money is in Bitcoins.

If you left all your money in Bitcoins, and walked away from a year and came back, there's a chance it could be worth 0. Not because governments made it illegal, or because more people were goxed... but because Namecoin has more features and simply made it obsolete in comparison, so it fell into disuse.

Namecoin can do everything that Bitcoin can do, and also the DNS stuff.

 I'm not clear on how namecoin pricing works, but if everyone got into namecoin, and it's value skyrocketed, wouldn't that defeat the purpose of namecoin?

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July 12, 2011, 06:30:20 AM
 #31

Namecoin is certainly not 'dying'. In fact the development team has been very active, and activity has been picking up on the exchange. It seems to me that some people are getting nervous that all their money is in Bitcoins.

If you left all your money in Bitcoins, and walked away from a year and came back, there's a chance it could be worth 0. Not because governments made it illegal, or because more people were goxed... but because Namecoin has more features and simply made it obsolete in comparison, so it fell into disuse.

Namecoin can do everything that Bitcoin can do, and also the DNS stuff.

 I'm not clear on how namecoin pricing works, but if everyone got into namecoin, and it's value skyrocketed, wouldn't that defeat the purpose of namecoin?

Nope. The price to purchase a domain name (in namecoins) goes down the more blocks are mined over time.

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July 12, 2011, 06:40:29 AM
 #32

You are kidding right? namecoin also needs to be renewed, and currently it's several times more expensive than just registering a ICANN domain with godaddy.

Also the cheapest price in the world would do nothing, if the whole world don't support the protocol.

Several times more expensive huh? With the current rates it costs around $7.5 usd to register .bit and it will keep on getting lower. Renewal costs $0. Meanwhile godaddy costs $12 per year.

You are incorrect to say that Renewal costs will go to $0. It is more like it will approach 0 NMC.

0.01 NMC in 6 to 8 months might be worth $7.50.

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talpan
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July 12, 2011, 06:42:07 AM
 #33

I don't thin namecoin is dying, if you look at the age of namecoin it is very young.
In my opinion, bitcoin and namecoin should go hand in hand.
Satoshi had this idea of "domaincoins" somewhere else.
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July 12, 2011, 07:19:13 AM
 #34

summary:

  • Namecoin is alive and well
  • Namecoin is young, not even 3 months old.  The Namecoin blockchain started on 17 April 2011.  By comparison, Bitcoin blockchain started on 3 January 2009.
  • Namecoin's first major application is for secure ownership of .bit domains.   Because the Namecoin system is a generic name/value datastore, there are many, many, many more applications possible.
  • Namecoin currently is not documented well.  This will improve as the project matures.
  • Namecoin currently has no open source GUI.  This will improve as the project matures.
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July 12, 2011, 08:16:22 AM
 #35

The Namecoin economic system is broken, so it'll die sooner or later...

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July 12, 2011, 08:39:46 AM
 #36

The Namecoin economic system is broken,

Specifically?

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July 12, 2011, 08:53:51 AM
 #37

The Namecoin economic system is broken, so it'll die sooner or later...

Umm.. How? Mind to elaborate?

(I almost flagged this post for troll... but I looks to the left... Oop! The admin!)
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July 12, 2011, 08:59:24 AM
 #38

The biggest problem with namecoin, is the fact that is it decentralized. the transition from ICANN to NMC would be hell. communist news network says google has over 5% of all Internets traffic.

that would mean the meta backbone of the internet would be almost instantly vaporized because google does not own the google domain. and they will never be able to get it back unless all the clients were patched.

not only that but namecoins are in fact destroyed from circulation when domains are claimed.

both ICANN and NMC would have to coexist. so the .bit domain would never be anything more than a hobby domain.

edit: pile all of that on top of the moderately complicated nongui they have. no average sane person will pop open a daemon and type in commands to buy a twinkie and the chair they sit their fat ass on.

WINDOWS INTEGRATION or lack of ultimately destroys any chance it ever had. the best use for namecoins is so botnets can operate even more decentralized than they already are.

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July 12, 2011, 09:12:17 AM
 #39

Specifically?

There are many problems:

- Namecoin fixes the cost of registration according to a formula for a long period of time. Price fixing is always a bad idea.
- When the price fixing ends, generators will be able to generate all of the good domain names at almost no cost. (This is better than the ICANN DNS, but it should be avoided if it can be.)
- Generators will intercept registration transactions and register the domains themselves, holding them hostage to get more money.
- Even ignoring the above two problems, domain registration will probably be too cheap. Miners don't care about how cheaply domain squatters can register domains.
- To resolve domain names by yourself, you need to download all new blocks. Blocks will grow in size, and eventually the network will become semi-centralized (as Bitcoin will). This can be avoided for resolvers if you're building a separate system, and it's one of the only reasons I see for not building onto the Bitcoin block chain.

DNS needs a lot more thought.

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July 12, 2011, 09:17:42 AM
 #40

Specifically?

There are many problems:

- Namecoin fixes the cost of registration according to a formula for a long period of time. Price fixing is always a bad idea.
- When the price fixing ends, generators will be able to generate all of the good domain names at almost no cost. (This is better than the ICANN DNS, but it should be avoided if it can be.)
- Generators will intercept registration transactions and register the domains themselves, holding them hostage to get more money.
- Even ignoring the above two problems, domain registration will probably be too cheap. Miners don't care about how cheaply domain squatters can register domains.
- To resolve domain names by yourself, you need to download all new blocks. Blocks will grow in size, and eventually the network will become semi-centralized (as Bitcoin will). This can be avoided for resolvers if you're building a separate system, and it's one of the only reasons I see for not building onto the Bitcoin block chain.

DNS needs a lot more thought.

Thanks for your thoughts and opinions. I'll mull those over ...

PS: Shouldn't this thread be in Off-Topic also ....
"General discussion about the Bitcoin client/network/ecosystem that doesn't fit better in other categories"

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