Let's talk about NAMECOIN

[clint25n]

What's going on. Value was like $1.25 a week ago, now its more like $0.30.

I know about the whole ICANN TLD thing.. but not too much else to read unless you leave your IRC window open all day and read peoples speculation.

Any thoughts? information? 

[kokojie]

namecoin will never be worldwide accepted or popular, it'll be just an obscure experiment that almost no one cares about and no one supports, like OpenNIC (which is almost free and has been operating for 10 years)

The entire world is not going to abandon ICANN regulation just to be able to open a .bit address. As long as ICANN doesn't support alternative DNS, it'll never be popular

[clint25n]

Hmmm, what shall I do with my measly 211 namecoins? 

[RyanWebber]

I just wish I cashed out when they were going 10:1 for BTC. Damn speculation.

[clint25n]

I'm probably gonna wait until they hit 1 cent and buy like $100 worth. Just incase  
Now if only bitcoin would do the same thing.

[Shinobi]

bitcoin will never be worldwide accepted or popular, it'll be just an obscure experiment that almost no one cares about and no one supports...

FTFY

[RodeoX]

Could it be related to the announcement about domain names?
http://m.zdnet.co.uk/news/networking/2011/06/20/icann-to-allow-any-word-as-a-domain-40093152/

[BitcoinPorn]

So on top of Namecoin having a catchier name, does it work in conjunction with Bitcoin or is it a replacement, competitor?

[JohnDoe]

Could it be related to the announcement about domain names?
http://m.zdnet.co.uk/news/networking/2011/06/20/icann-to-allow-any-word-as-a-domain-40093152/

No, it's definitely because a lot of mining power returned to Bitcoin after Namecoin mining became equally or less profitable.

So on top of Namecoin having a catchier name, does it work in conjunction with Bitcoin or is it a replacement, competitor?

Competitor.

[deepceleron]

It will provide a non-centralized DNS service that can't be taken down. Good for sites where the government might steal the domain name, like torrent/streaming sites. The problem is that it won't take you where you expect due to squatters (like 4chan.bit takes you to a minecraft site), and that to use it, you have to install a custom DNS server on your machine, so it won't work on any ol' machine without a lot of work. You can get a list of all the registered sites here: http://namecoin.bitcoin-contact.org/q/domainlist.txt, and you can go to the .bit sites through here: http://namecoin.us/

[doublec]

It will provide a non-centralized DNS service that can't be taken down. Good for sites where the government might steal the domain name, like torrent/streaming sites. The problem is that it won't take you where you expect due to squatters (like 4chan.bit takes you to a minecraft site), and that to use it, you have to install a custom DNS server on your machine, so it won't work on any ol' machine without a lot of work. You can get a list of all the registered sites here: http://namecoin.bitcoin-contact.org/q/domainlist.txt, and you can go to the .bit sites through here: http://namecoin.us/

You don't necessarily have to install a custom DNS. For example a torrent client could build in the ability to query the namecoin blockchain. It would then use this for name lookup. No DNS client software needed.

[JohnDoe]

you have to install a custom DNS server on your machine, so it won't work on any ol' machine without a lot of work.

I don't know how it is on Windows or Mac, but on Linux I just need to add a single line with my nameserver of choice to /etc/resolv.conf.head and I'm done.

[deepceleron]

you have to install a custom DNS server on your machine, so it won't work on any ol' machine without a lot of work.

I don't know how it is on Windows or Mac, but on Linux I just need to add a single line with my nameserver of choice to /etc/resolv.conf.head and I'm done.

Tell that to my mom.

[JohnDoe]

Tell that to my mom.

Ok, I called her and guided her through the process. Took us 4 minutes including small talk. She's now reading all the new gossips on celebrities.bit.

[nemo]

Hearing all these other people getting burned on speculation has been therapeutic for me. If you look at my post history you'll find that I try to weasel the sentence "I buttfucked myself out of 10 bitcoins on namecoin speculation" into almost every other post I make.

The lesson I learned is that I don't know what I'm doing. The reason why people get rich on the markets is because they're either lucky or they're smarter than everybody else. I actually thought I figured something out that you guys didn't. Thank god I didn't make any money, otherwise I would have gone all out.

I'm still planning on buying a lot once it feels it hits rock bottom, then it'll probably just hit rock bottom way more.

[322i0n]

So as well as being decentralized are they also anonymous like bitcoin?

[ctoon6]

the only future i see for namecoin is giving static addresses to bitcoin addresses.

and the protocol would need some major revisions and would need to be completely restarted IMO

1. cheaper names
2. do not destroy coins, ever
3. the cost of the domain is hard to fairly determine, but if the amount of domains registered per block, and amount of "active" coins were taken into account, you get set prices pretty good
4. need a utility that does not work via a modified dns server, surf with your own blockchain

[JohnDoe]

So as well as being decentralized are they also anonymous like bitcoin?

Well Bitcoin is not really anonymous by itself, but yes. Namecoin is exactly the same as Bitcoin except for the added features.

the only future i see for namecoin is giving static addresses to bitcoin addresses.

and the protocol would need some major revisions and would need to be completely restarted IMO

1. cheaper names
2. do not destroy coins, ever
3. the cost of the domain is hard to fairly determine, but if the amount of domains registered per block, and amount of "active" coins were taken into account, you get set prices pretty good
4. need a utility that does not work via a modified dns server, surf with your own blockchain

1. Names become cheaper over time until the only fee left is the transaction fee.
2. Why is that important?
3. Actually the cost is pretty easy to determine. http://dot-bit.org/tools/domainCost.php
4. Yeah, not yet implemented into the client itself but in the meantime there's this: https://masterpool.eu/proxy