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Author Topic: Namecoin prices plummeting - opinions?  (Read 14823 times)
MikesMechanix
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June 25, 2011, 12:29:00 PM
 #21

I don't really understand Namecoin, and don't really see any value in it.

You could still argue it has more value tham Bitcoin, since namecoin = bitcoin + dns.

Initially, I thought it might have more staying power than Bitcoin, but obviously that depends largely on the publicity it gets. Currently, it isn't getting any.


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June 25, 2011, 12:37:24 PM
 #22

I am pretty up to speed with geeky computer stuff. I do it for a job and i spend most of my free time on my computer at home.
However I dont understand namecoin either. I dont see a need for it. Why would anyone want a web address that cannot be controlled by a proper domain regulator? probably for illegal purposes.

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MikesMechanix
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June 25, 2011, 12:42:58 PM
 #23

Why would anyone want a web address that cannot be controlled by a proper domain regulator? probably for illegal purposes.

Think Wikileaks.

Also, I think the idea is that eventually it'll be almost free (though free market laws would still apply, I suppose).

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doublec
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June 25, 2011, 12:56:59 PM
 #24

It's early days for namecoins. Currently there is little in software and support for users of it so it's expected that the price and interest in mining would vary. Currently if you buy a domain name you are restricted in its use. You must essentially re-buy it every year and it's subject to control by ISP's, registrars and various governments (ie. domains are easily seized). Aside from the 'domain name' side of things, namecoin is a generic naming service. I'm sure other innovative ideas using it will appear.

There doesn't need to be '.bit' DNS proxies for it to be used. Software can build in support for the namecoin protocol itself. For example, a poker client could use namecoin to lookup IP addresses for its servers. There's no need to worry about the user's ISP filtering their DNS for such things (like the 'blacklists' that some countries ISP's use). Torrent applications could use namecoin directly to find torrent search engines. Browsers could build in the lookup and bypass the need of '.something' and just have 'name'.
 
I think namecoin will remain a niche for quite a while as services as software build around it. If that doesn't happen then it will probably fade away. Maybe it'll see some use as a secondary currency. If services and software do start to use it things could get more interesting. If it fails, hopefully something will learn from it and a better alternative system to DNS will rise out of it.

(Disclaimer: I run a namecoin pool and exchange)
qed
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June 25, 2011, 01:37:14 PM
 #25

If someone will buy the .bit domain namecoins will be over also to resolve a .bit domain you need specific software.

Not much useful for now.

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June 25, 2011, 02:31:26 PM
 #26

If simple browser plugins existed right now that made the experience seamless, would any of that be a problem? Most people think nothing of installing an extra plugin to view previously inaccessible content (e.g. pdf, flash).

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michaelmclees
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June 25, 2011, 02:33:59 PM
 #27

It's early days for namecoins. Currently there is little in software and support for users of it so it's expected that the price and interest in mining would vary. Currently if you buy a domain name you are restricted in its use. You must essentially re-buy it every year and it's subject to control by ISP's, registrars and various governments (ie. domains are easily seized). Aside from the 'domain name' side of things, namecoin is a generic naming service. I'm sure other innovative ideas using it will appear.

There doesn't need to be '.bit' DNS proxies for it to be used. Software can build in support for the namecoin protocol itself. For example, a poker client could use namecoin to lookup IP addresses for its servers. There's no need to worry about the user's ISP filtering their DNS for such things (like the 'blacklists' that some countries ISP's use). Torrent applications could use namecoin directly to find torrent search engines. Browsers could build in the lookup and bypass the need of '.something' and just have 'name'.
 
I think namecoin will remain a niche for quite a while as services as software build around it. If that doesn't happen then it will probably fade away. Maybe it'll see some use as a secondary currency. If services and software do start to use it things could get more interesting. If it fails, hopefully something will learn from it and a better alternative system to DNS will rise out of it.

(Disclaimer: I run a namecoin pool and exchange)

99% of Bitcoin users and 100% of regular people have no idea what any of that means.
doublec
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June 25, 2011, 02:42:46 PM
 #28

99% of Bitcoin users and 100% of regular people have no idea what any of that means.
And that's fine. 99% of regular people have no idea what bitcoins are good for. These things take time to catch on. At some point regular users won't even need to know they're using a namecoin service. There was time time when 99% of regular people didn't know what a foo@example.com email address was or what an http://example.com URL was. I remember people thinking I was strange when I used those.
michaelmclees
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June 25, 2011, 02:46:52 PM
 #29

99% of Bitcoin users and 100% of regular people have no idea what any of that means.
And that's fine. 99% of regular people have no idea what bitcoins are good for. These things take time to catch on. At some point regular users won't even need to know they're using a namecoin service. There was time time when 99% of regular people didn't know what a foo@example.com email address was or what an http://example.com URL was. I remember people thinking I was strange when I used those.

But those thing can be explained fully in a single sentence to anyone who is confused.  I'm saying that not only do people not understand namecoin, they don't understand anything in your explanation.
doublec
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June 25, 2011, 03:10:46 PM
 #30

But those thing can be explained fully in a single sentence to anyone who is confused.  I'm saying that not only do people not understand namecoin, they don't understand anything in your explanation.
My explanation wasn't an explanation of namecoin. It's a description of different ways it could be used. If someone asks me what namecoins are I say "It's a system for registering a special type of domain name".
michaelmclees
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June 25, 2011, 03:15:51 PM
 #31

But those thing can be explained fully in a single sentence to anyone who is confused.  I'm saying that not only do people not understand namecoin, they don't understand anything in your explanation.
My explanation wasn't an explanation of namecoin. It's a description of different ways it could be used. If someone asks me what namecoins are I say "It's a system for registering a special type of domain name".

Still over everyone's head.
zpinto
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June 25, 2011, 03:27:30 PM
 #32

We need someone to make a simple program with a simple interface so people can create their adrdess and mine without having to issue command lines and stuff like that.
marcus_of_augustus
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June 25, 2011, 04:10:09 PM
 #33

We need someone to make a simple program with a simple interface so people can create their adrdess and mine without having to issue command lines and stuff like that.

You are right. Maybe specify the project you want in a good, tight spec. and start asking around for pledges to a bounty? Lots of s/ware talent around here that can be motivated by BTC, NMC bounties.

Gabi
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June 25, 2011, 04:19:07 PM
 #34

Namecoin is useful but only for the people who have a need for them.

Jack of Diamonds
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June 25, 2011, 04:50:07 PM
 #35

But those thing can be explained fully in a single sentence to anyone who is confused.  I'm saying that not only do people not understand namecoin, they don't understand anything in your explanation.
My explanation wasn't an explanation of namecoin. It's a description of different ways it could be used. If someone asks me what namecoins are I say "It's a system for registering a special type of domain name".

Still an arbitrary 99% of people do not understand what is a domain name let alone what is the value in a "special type of domain name".

If I tried to guide my grandafther over the phone on how to access a .bit domain I'd be spending the good half of a day on the concept.

If I tried to guide him to download the bitcoin client so he can create a wallet, that will take about a minute. Even less for me to send him 0.05BTC as a test.

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MikesMechanix
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June 25, 2011, 05:01:50 PM
 #36

Still an arbitrary 99% of people do not understand what is a domain name let alone what is the value in a "special type of domain name".

Yet there is a demand for domain names.

See, the general public don't need to understand the inner workings of namecoins any more than they need to understand the inner workings of, say, a web server, to browse the web.

All that's needed is demand for namecoins. Whether or not it's there, no one really knows yet.

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Grant
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June 25, 2011, 05:04:55 PM
 #37


Still an arbitrary 99% of people do not understand what is a domain name let alone what is the value in a "special type of domain name".

On a releated note: Bitcoin.de and Bitcoins.de, sold for €14,875 ($21,420) each
http://www.dnjournal.com/ytd-sales-charts.htm

marcus_of_augustus
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June 25, 2011, 05:09:22 PM
 #38

But those thing can be explained fully in a single sentence to anyone who is confused.  I'm saying that not only do people not understand namecoin, they don't understand anything in your explanation.
My explanation wasn't an explanation of namecoin. It's a description of different ways it could be used. If someone asks me what namecoins are I say "It's a system for registering a special type of domain name".

Still an arbitrary 99% of people do not understand what is a domain name let alone what is the value in a "special type of domain name".

If I tried to guide my grandafther over the phone on how to access a .bit domain I'd be spending the good half of a day on the concept.

If I tried to guide him to download the bitcoin client so he can create a wallet, that will take about a minute. Even less for me to send him 0.05BTC as a test.

Who's your grandafther and why does he need to go to .bit domains? Did you tell him how to secure his bitcoin client and wallet.dat against malware on his Win XP machine? 2 days on phone?

Buy some namecoins now for when you are grandafther and they are ubiquitous ... but you'll probably need to be CLI savvy else you are sool ... techie premium barrier to entry.



Fakeman
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June 25, 2011, 05:10:45 PM
 #39

Still an arbitrary 99% of people do not understand what is a domain name let alone what is the value in a "special type of domain name".

If I tried to guide my grandafther over the phone on how to access a .bit domain I'd be spending the good half of a day on the concept.

Which is why it should be as simple as explaining how to configure your browser to view flash or pdf content. Obviously there is only a reason to do so if it enables access to some content that's useful to the user. Such content could be expected to be developed more readily if it was at least easier to get to the sites.

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marcus_of_augustus
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June 25, 2011, 05:14:41 PM
 #40

Still an arbitrary 99% of people do not understand what is a domain name let alone what is the value in a "special type of domain name".

If I tried to guide my grandafther over the phone on how to access a .bit domain I'd be spending the good half of a day on the concept.

Which is why it should be as simple as explaining how to configure your browser to view flash or pdf content. Obviously there is only a reason to do so if it enables access to some content that's useful to the user. Such content could be expected to be developed more readily if it was at least easier to get to the sites.

It is an open source project that has been alive for less than 8 weeks and you want what ... a fully functioning distributed DNS service with browser pugins available for download from all major repositories ...  Roll Eyes

... reality check chaps.

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