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Author Topic: namecoin are low, why?  (Read 4581 times)
kokjo
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November 09, 2011, 07:29:13 PM
 #21

The price of NMC is not as important as the security of NMC.

Remember NMC wasn't designed to be a currency.  People who want to register domains can use NMC to do so.  The price point isn't material however without MM NMC would be very vulnerable to a 51% attack.

Yes but I still think a low NMC value is not very good for miners relying on MM to boost profits Smiley
then you should do good by buying alot of them, and make prices raise for some time.

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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November 09, 2011, 07:48:58 PM
 #22

The price of NMC is not as important as the security of NMC.

Remember NMC wasn't designed to be a currency.  People who want to register domains can use NMC to do so.  The price point isn't material however without MM NMC would be very vulnerable to a 51% attack.

Yes but I still think a low NMC value is not very good for miners relying on MM to boost profits Smiley
then you should do good by buying alot of them, and make prices raise for some time.

You wish. Until these cryptocurrencies are not properly tested over some time I consider it foolish to put real USD into them. I never even bought BTC at $0.58 Tongue
kokjo
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November 09, 2011, 07:52:37 PM
 #23

The price of NMC is not as important as the security of NMC.

Remember NMC wasn't designed to be a currency.  People who want to register domains can use NMC to do so.  The price point isn't material however without MM NMC would be very vulnerable to a 51% attack.

Yes but I still think a low NMC value is not very good for miners relying on MM to boost profits Smiley
then you should do good by buying alot of them, and make prices raise for some time.

You wish. Until these cryptocurrencies are not properly tested over some time I consider it foolish to put real USD into them. I never even bought BTC at $0.58 Tongue
NMC's function is not as a currency, but as a way to secure domain names. -> price of namecoins, price of a domain.

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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November 09, 2011, 07:55:45 PM
 #24

The price of NMC is not as important as the security of NMC.

Remember NMC wasn't designed to be a currency.  People who want to register domains can use NMC to do so.  The price point isn't material however without MM NMC would be very vulnerable to a 51% attack.

Yes but I still think a low NMC value is not very good for miners relying on MM to boost profits Smiley
then you should do good by buying alot of them, and make prices raise for some time.

You wish. Until these cryptocurrencies are not properly tested over some time I consider it foolish to put real USD into them. I never even bought BTC at $0.58 Tongue
NMC's function is not as a currency, but as a way to secure domain names. -> price of namecoins, price of a domain.

Well seems I am late to the game. Sony.bit and Google.bit and Apple.bit and Microsoft.bit and ... are all taken up now Sad
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November 09, 2011, 08:43:38 PM
 #25

Namecoin is actually a worthless project at the moment.  Nobody in their right mind is going to accept Namecoin as a DNS system, except for one audience that Namecoin isn't yet addressing...

TOR HIDDEN SERVICES.

Why?  The world doesn't demand a new cryptographic DNS system, it's happy with the one it's already got.  The fact that Wikileaks and Pokerstars lost their names is of little concern to the world, especially since they can both easily register under another TLD with no significant impact.  If the world were looking for an alternate DNS, least of all, it sure isn't going to take one where virtually every prominent trademark has been cryptographically squatted on by anonymous wanna-be profiteers.

But Tor hidden services have no working DNS, and a side consequence is that it's rife with phishing sites and people can't tell if they're at the right site because the names are non-memorable.  If the address for Silk Road were "silkroad.onion", people could distinguish the real deal from phishing attempts without having to memorize "ianx6zasdflkajsdflkj" or whatever.

If Namecoin development went toward making it the de facto name registry for hidden services, it suddenly would be valuable and useful.  Otherwise, namecoins are as worthless as ixcoins.

The next biggest REAL thing that namecoin could potentially accomplish would be to serve as a registry of the correct SSL certificates for websites.  THAT is something the world actually is demanding, i.e. the current system is actually broken.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
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November 09, 2011, 09:15:24 PM
 #26

Namecoin is actually a worthless project at the moment.  Nobody in their right mind is going to accept Namecoin as a DNS system, except for one audience that Namecoin isn't yet addressing...

TOR HIDDEN SERVICES.

Why?  The world doesn't demand a new cryptographic DNS system, it's happy with the one it's already got.  The fact that Wikileaks and Pokerstars lost their names is of little concern to the world, especially since they can both easily register under another TLD with no significant impact.  If the world were looking for an alternate DNS, least of all, it sure isn't going to take one where virtually every prominent trademark has been cryptographically squatted on by anonymous wanna-be profiteers.

But Tor hidden services have no working DNS, and a side consequence is that it's rife with phishing sites and people can't tell if they're at the right site because the names are non-memorable.  If the address for Silk Road were "silkroad.onion", people could distinguish the real deal from phishing attempts without having to memorize "ianx6zasdflkajsdflkj" or whatever.

If Namecoin development went toward making it the de facto name registry for hidden services, it suddenly would be valuable and useful.  Otherwise, namecoins are as worthless as ixcoins.

The next biggest REAL thing that namecoin could potentially accomplish would be to serve as a registry of the correct SSL certificates for websites.  THAT is something the world actually is demanding, i.e. the current system is actually broken.

No wonder price is now 0.007. Really a shame. Even damn ScamCoin is higher than that now ! Sad
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November 10, 2011, 12:53:36 AM
 #27


No wonder price is now 0.007. Really a shame. Even damn ScamCoin is higher than that now ! Sad

The bright side is if somebody wants to start putting it together, Namecoin is already quite a start.

That said, they could also dump the Namecoin block chain and start it over.  It depends on how much its current developers would be perceived to contribute to the project, since they would be presumed to be in favor of keeping the block chain.

To get it going though, what really needs to happen is for the Tor / Vidalia / Polipo people to get involved and decide how it could integrate into Tor.  It might be considered much more credible now that merged mining is giving it a solid base of hashing power.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
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November 10, 2011, 04:18:33 AM
 #28

Namecoin is actually a worthless project at the moment.  Nobody in their right mind is going to accept Namecoin as a DNS system, except for one audience that Namecoin isn't yet addressing...

TOR HIDDEN SERVICES.

Why?  The world doesn't demand a new cryptographic DNS system, it's happy with the one it's already got.  The fact that Wikileaks and Pokerstars lost their names is of little concern to the world, especially since they can both easily register under another TLD with no significant impact.  If the world were looking for an alternate DNS, least of all, it sure isn't going to take one where virtually every prominent trademark has been cryptographically squatted on by anonymous wanna-be profiteers.

But Tor hidden services have no working DNS, and a side consequence is that it's rife with phishing sites and people can't tell if they're at the right site because the names are non-memorable.  If the address for Silk Road were "silkroad.onion", people could distinguish the real deal from phishing attempts without having to memorize "ianx6zasdflkajsdflkj" or whatever.

If Namecoin development went toward making it the de facto name registry for hidden services, it suddenly would be valuable and useful.  Otherwise, namecoins are as worthless as ixcoins.

Yes providing tor hidden service names is a great use for namecoin:

http://dot-bit.org/Domain_names#Value_field


The next biggest REAL thing that namecoin could potentially accomplish would be to serve as a registry of the correct SSL certificates for websites.  THAT is something the world actually is demanding, i.e. the current system is actually broken.

TLS support is potentially the most important application of namecoin:

http://dot-bit.org/Domain_names#TLS_support
 
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November 10, 2011, 04:32:26 AM
 #29


Yes providing tor hidden service names is a great use for namecoin:
http://dot-bit.org/Domain_names#Value_field



TLS support is potentially the most important application of namecoin:
http://dot-bit.org/Domain_names#TLS_support
 

So basically i'll support translation between .bit and .onion ?

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November 10, 2011, 06:03:46 PM
 #30

Price now at 0.008. We need to get this TOR thing going to raise the price folks !

I mean even SC is getting better rates than NMC. Shocked
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November 10, 2011, 06:15:37 PM
 #31

What really needs to happen is for the TOR project (or actually, the projects that provide DNS resolution for Tor installations, which would be Vidalia and/or Polipo) to implement namecoin DNS resolution support into their software.

That might be a little more complex than it sounds.  For example, the DNS resolution needs to be secure.  Tor is also for TCP, not for UDP, and normal DNS only UDP, so implementing it might require adding support for DNS over TCP.

But yeah... if this gets done right and adopted, namecoins might have a reason to shoot up in value.

I swear I read somewhere that someone had patched the sources of Polipo to support Namecoin resolution, it's a fork or something.  Lobbying for this patch (or some derivative of it) to be included in the standard build might be a worthy goal for Namecoin enthusiasts if they want to see their coins increase in value.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
kokjo
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November 10, 2011, 06:39:46 PM
 #32

What really needs to happen is for the TOR project (or actually, the projects that provide DNS resolution for Tor installations, which would be Vidalia and/or Polipo) to implement namecoin DNS resolution support into their software.

That might be a little more complex than it sounds.  For example, the DNS resolution needs to be secure.  Tor is also for TCP, not for UDP, and normal DNS only UDP, so implementing it might require adding support for DNS over TCP.

But yeah... if this gets done right and adopted, namecoins might have a reason to shoot up in value.

I swear I read somewhere that someone had patched the sources of Polipo to support Namecoin resolution, it's a fork or something.  Lobbying for this patch (or some derivative of it) to be included in the standard build might be a worthy goal for Namecoin enthusiasts if they want to see their coins increase in value.
dns over tcp is not neccesary. the namecoin client could provide a udp dns server, that is pointing to a .onion address, or directly map the address to a virtual host that tor assigns.

or you could just proxy the whole shit.

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
bulanula
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November 10, 2011, 06:57:11 PM
 #33

What really needs to happen is for the TOR project (or actually, the projects that provide DNS resolution for Tor installations, which would be Vidalia and/or Polipo) to implement namecoin DNS resolution support into their software.

That might be a little more complex than it sounds.  For example, the DNS resolution needs to be secure.  Tor is also for TCP, not for UDP, and normal DNS only UDP, so implementing it might require adding support for DNS over TCP.

But yeah... if this gets done right and adopted, namecoins might have a reason to shoot up in value.

I swear I read somewhere that someone had patched the sources of Polipo to support Namecoin resolution, it's a fork or something.  Lobbying for this patch (or some derivative of it) to be included in the standard build might be a worthy goal for Namecoin enthusiasts if they want to see their coins increase in value.
dns over tcp is not neccesary. the namecoin client could provide a udp dns server, that is pointing to a .onion address, or directly map the address to a virtual host that tor assigns.

or you could just proxy the whole shit.

Nice idea. With that attitude I guess NMC will soon rise to 0.1 BTC

Who thought of giving BTC miners free NMC and who thought of MM ? They deserve a double facepalm right now. Price is utterly miserable and network is not really that much safer.
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November 10, 2011, 06:59:07 PM
 #34

Nice idea. With that attitude I guess NMC will soon rise to 0.1 BTC

Who thought of giving BTC miners free NMC and who thought of MM ? They deserve a double facepalm right now. Price is utterly miserable and network is not really that much safer.
no they don't the namecoin network, is as secure as the bitcoin network.

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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November 10, 2011, 07:09:02 PM
 #35

What really needs to happen is for the TOR project (or actually, the projects that provide DNS resolution for Tor installations, which would be Vidalia and/or Polipo) to implement namecoin DNS resolution support into their software.

That might be a little more complex than it sounds.  For example, the DNS resolution needs to be secure.  Tor is also for TCP, not for UDP, and normal DNS only UDP, so implementing it might require adding support for DNS over TCP.

But yeah... if this gets done right and adopted, namecoins might have a reason to shoot up in value.

I swear I read somewhere that someone had patched the sources of Polipo to support Namecoin resolution, it's a fork or something.  Lobbying for this patch (or some derivative of it) to be included in the standard build might be a worthy goal for Namecoin enthusiasts if they want to see their coins increase in value.
dns over tcp is not neccesary. the namecoin client could provide a udp dns server, that is pointing to a .onion address, or directly map the address to a virtual host that tor assigns.

or you could just proxy the whole shit.

Sorry if I misunderstood, but we both understand that UDP doesn't work over Tor, right?

I am not sure that having a full-blown namecoin client will be consistent with the goals of Tor - at least to the extent such a client participates in the block chain.  It certainly can be an option, the same way power users can run relays and bridges... but I think the Tor development community will consider it a non-starter if using Namecoin depends on every user downloading a large block chain file.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
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November 10, 2011, 07:28:24 PM
 #36

Nice idea. With that attitude I guess NMC will soon rise to 0.1 BTC

Who thought of giving BTC miners free NMC and who thought of MM ? They deserve a double facepalm right now. Price is utterly miserable and network is not really that much safer.

1) How is the network not really secure?
2) If price of NMC has higher but it earned you a lower rate than Bitcoin so that you never mined it were you really losing anything?

How exactly are you hurt by higher hashing power on MMC network and lower prices?
kokjo
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November 10, 2011, 07:35:17 PM
 #37

What really needs to happen is for the TOR project (or actually, the projects that provide DNS resolution for Tor installations, which would be Vidalia and/or Polipo) to implement namecoin DNS resolution support into their software.

That might be a little more complex than it sounds.  For example, the DNS resolution needs to be secure.  Tor is also for TCP, not for UDP, and normal DNS only UDP, so implementing it might require adding support for DNS over TCP.

But yeah... if this gets done right and adopted, namecoins might have a reason to shoot up in value.

I swear I read somewhere that someone had patched the sources of Polipo to support Namecoin resolution, it's a fork or something.  Lobbying for this patch (or some derivative of it) to be included in the standard build might be a worthy goal for Namecoin enthusiasts if they want to see their coins increase in value.
dns over tcp is not neccesary. the namecoin client could provide a udp dns server, that is pointing to a .onion address, or directly map the address to a virtual host that tor assigns.

or you could just proxy the whole shit.

Sorry if I misunderstood, but we both understand that UDP doesn't work over Tor, right?

I am not sure that having a full-blown namecoin client will be consistent with the goals of Tor - at least to the extent such a client participates in the block chain.  It certainly can be an option, the same way power users can run relays and bridges... but I think the Tor development community will consider it a non-starter if using Namecoin depends on every user downloading a large block chain file.
yes UDP does not work on TOR. it is stream based.
my idea:
unknowing client app -> namecoin dns server: give me the address of "something.bit"
namecoin dns server resolves this, if it point to a ip, return it.
if it points to a .onion address. ask tor to map it, to an fake ip address(often 127.0.X.X), and return that.
if it is not ending with .bit, resolve it as normal.
namecoin dns server -> client app: "something.bit" is at 12.34.56.78
client app connects to ip(12.34.56.78). works as usual.

there is no udp packets going out of your computer.

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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November 10, 2011, 07:37:57 PM
 #38

Afik DNS Servers normally have TCP support (Bind does) and I think this is even in the RFC - for clients or network that cannot support UDP to use TCP instead.

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November 10, 2011, 07:40:48 PM
 #39

Afik DNS Servers normally have TCP support (Bind does) and I think this is even in the RFC - for clients or network that cannot support UDP to use TCP instead.
you are right:
All general-purpose DNS implementations MUST support both UDP and TCP transport.

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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November 12, 2011, 10:55:49 PM
 #40

Difficulty is now 199569.39467 and will be 472334.32184  (136.68% growth) in about   1d 0hr 21m  according to allchains.info
What will happen to the price?
And what will happen to the price when the diff gets equal with bitcoin?

I suspect that namecoin will rally again to it's 0.07 BTC price again.

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