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Author Topic: Namecoin boom is coming  (Read 1302 times)
giantdragon
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November 27, 2013, 12:57:46 AM
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Look at all these numerous Bitcoin forks - they provide almost nothing over BTC while have far less security. You could argue that Litecoin has half confirmation time comparing to BTC, but it means nothing when thinking about waiting 5 minutes instead of 10 in grocery store's queue.

Only one cryptocurrency that offer something unique is Namecoin IMHO. It has real potential to explode when major browsers (Firefox and Chrome) will add .bit domains support. Just think about casinos, poker rooms, online pharmacies, torrent trackers and many other "rogue" industries that currently annoyed with domain seizures and will be really appreciated with government-independent domain system.
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im3w1l
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November 27, 2013, 01:04:15 AM
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The killer app is dns for onions though.
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November 27, 2013, 02:18:06 AM
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It's funny, I predicted a NMC boom ... about 8 months ago. Looks like I was a bit off. But it's sitting at about $6+ now when it had been sub $0.50 for a while.

Months ago, LTC folks would DREAM of being at $6. Now $6 is the "new normal" for NMC ;-)
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November 27, 2013, 02:22:11 AM
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What are you talking about?

Namecoin just had a major/fatal flaw found like a week ago.

Now they have to fork and try to go forward or die...why would anyone put their money into it?
These alt coins are just riding XBT coat tails...none of the investors even understand them, they just throw money at them if they sound like they have some desirable features.

http://www.reddit.com/r/Bitcoin/comments/1ohyom/fatal_flaw_in_namecoin_found_doesnt_enforce_some/

http://www.coindesk.com/namecoin-flaw-patch-needed/

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November 27, 2013, 02:38:16 PM
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What are you talking about?

Namecoin just had a major/fatal flaw found like a week ago.


a week ago? it seems more like a month ago. Anyway nmc survived. Remember: what doesn't kill you only makes you stronger. Tongue

anyway from the linked post:

Quote
Edit 131016 : A nice fix is currently being tested, so it seems like namecoin will be back in business. Cudos to the "snailbrain" and "phelix" for cooking it together and acting fast. So current status is - don't buy a domain from someone, and don't trust any important key-value pair in namecoin  before the fix has been rolled out! - Will update once it is there, but could take days to deploy at miners.

Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
FrictionlessCoin
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November 27, 2013, 02:59:32 PM
 #6

Look at all these numerous Bitcoin forks - they provide almost nothing over BTC while have far less security. You could argue that Litecoin has half confirmation time comparing to BTC, but it means nothing when thinking about waiting 5 minutes instead of 10 in grocery store's queue.

Only one cryptocurrency that offer something unique is Namecoin IMHO. It has real potential to explode when major browsers (Firefox and Chrome) will add .bit domains support. Just think about casinos, poker rooms, online pharmacies, torrent trackers and many other "rogue" industries that currently annoyed with domain seizures and will be really appreciated with government-independent domain system.


I think you got it wrong as to why this coin is exploding in price.  It has nothing to with the domain name capability.

It however has everything to do with its massive hash rate.

If I were to store wealth,  would I trust it on a network with intermitent network support?

I want a guarantee that the network will have a massively high hash rate and will exists forever.

That is why NMC is up big time.

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