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Author Topic: namecoin are low, why?  (Read 4580 times)
BitcoinPorn
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November 13, 2011, 05:46:32 AM
 #41

I actually kind of wish Namecoin was just go away as far as being something traded.  I like my digital currencies to have only one purpose.   A neat idea, should just go the way of Ripple or whatever.  Where it has some kind of user base, but not enough to do anything.

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November 13, 2011, 05:15:19 PM
 #42

I actually kind of wish Namecoin was just go away as far as being something traded.  I like my digital currencies to have only one purpose.   A neat idea, should just go the way of Ripple or whatever.  Where it has some kind of user base, but not enough to do anything.

I don't understand what you hate about ripple or namecoin.
Although not as much as LETS, Ripple is kind of local, so if you don't get the people around you to use it, you can't use it.
I'm currently trying to use ripple in my town through villages.cc, but I guess it will take time until enough people want to use it.
It seems hard to start like LETS.
For namecoin, I guess you would prefer a domain chain with no currency where the miners mine for fees paid in bitcoin. That's possible.
Namecoin can always be forked for that, it was just easier and more efficient to do it this way.
But why is so important not to create a new currency with a chain service?
The reason why no services are built in bitcoin is to avoid to store all that data within the blockchain. I think having each service in a different chain (with merged mining) is better for everyone. This way users can download only the chains they need.
But I don't understand what is so bad about a chain with a service using its own currency to pay its miners.
Instead of buying domains directly with bitcoins you can buy namecoins with bitcoins and then domains with namecoins. Not a big difference.

2 different forms of free-money: Freicoin (free of basic interest because it's perishable), Mutual credit (no interest because it's abundant)
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November 18, 2011, 07:54:40 AM
 #43

namecoin is high
actually the first place compared with solidcoin, litecoin and more
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November 20, 2011, 06:21:06 AM
 #44

I actually kind of wish Namecoin was just go away as far as being something traded.  I like my digital currencies to have only one purpose.   A neat idea, should just go the way of Ripple or whatever.  Where it has some kind of user base, but not enough to do anything.

NMC must be traded though, in order to serve its eventual purpose.  In an ideal world, NMC hits an adoption rate and people buy the NMC to register their domain, rather than setting up graphic card miners and waiting until they mine enough NMC to register a domain.  So it MUST have an exchange for those people that don't want to mine the NMC themselves.  Of course, right now its essentially just another altcoin, lots of trading/speculative value, no mainstream use (although NMC is more useful than any altcoin at the moment).

namecoin is high
actually the first place compared with solidcoin, litecoin and more

Until just recently, NMC exchanges were very low (0.005-0.006), but a few big buyers got the price to triple.  Of course, the difficulty is also about to triple compared to what it was not long ago, due to more merged mining adoption (BTC Guild added about 50% more hashpower to the network).

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November 21, 2011, 08:06:10 PM
 #45

In order for NMC to be valuable, it must be useful for its intended purpose: domain name registry.

I believe I have hashed out ad nauseum the world's non-demand for a new cryptographic top level domain consisting of nothing but cybersquatting trolls, just on the premise that Wikileaks and PokerStars had to switch TLD's and were inconvenienced for a day or two.  The NMC trading price should make that fairly clear.  I am surprised to see continuing discussion about the .bit domain - something absolutely no one in the world (outside of NMC) cares about, certainly not enough to go and reconfigure their browser or their network settings for.

Until NMC is adapted to the few places where there's an unsatisfied demand for cryptographic name registry services - namely, the .onion domain - to the point it is usable by the average downloader of the Tor bundle with only minimal (e.g. 128k) bandwidth - NMC is a worthless coin.


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 26, 2011, 02:34:43 PM
 #46

There must be something useful for namecoin. I don't find darknets to be very fast. Perhaps namecoin can serve as an intermediary to finding darknet content.

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December 06, 2011, 03:40:55 AM
 #47

Greetings, I've read this thread with interest as I'd like to be able to use namecoin to link to TOR hidden services and possibly to I2P eepsites.

I'm the author of AnonymOS  http://anonymos.earthsociety.org. A Gnu-Linux operating system with TOR, I2P, and Bitcoin client pre-installed. It also has many tweaks for enhanced security and privacy -- I daresay it's the most secure OS (of it's kind) on the planet.

But it needs to be better.  I'm soon to release the next version with installer, currently it's only a live-cd or you have to buy a USB drive from me to use it installed.

The beauty of this all rolled into one OS is that it makes it very easy for someone who has little knowledge to take advantage of anonymizing services -- and bitcoin too. Critically -- I2P is a router by default (unlike TOR), with many built in apps and services. The more people that use AnonymOS, the stronger the I2P network becomes -- in fact it can grow in power much more quickly than TOR has and will soon overtake TOR.

I'm seeking advice and knowledge on how to implement namecoin in either this edition, or in a later server edition that includes in-built web server and software for creating TOR-hidden-service blogs.

I see that the US government is moving more and more toward censoring people and I think we really have to start jumping into these alternative networks en masse. For example -- http://tradewithdave.com/?p=8567

Thanks for any help and thoughts.

Cheers

markm
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December 06, 2011, 05:39:45 AM
 #48

Open Transactions "nyms" (pseudonyms) also are hashes, so are similarly just un-memorable gobbledegook to humans. Server and currency contract IDs similarly.

Thus it could be useful to have namespaces in namecoin to allow looking up a server or currency or nym's ID using a memorable name.

This could also help a little against spoofing of currencies that become popular; instead of relying upon some random website somewhere that tells you to import some contract from their site, expecting it to be the contract of some well known well reputed currency, and just trusting it, you could look up the currency by its famous name (careful here though of fonts that fool you by using characters that look similar to other characters) in a currency ID namespace in namecoin to find its ID as recorded in namecoin by, one might hope, the actual issuer/signer of its actual correct contract.

In other news, my Open Transactions server, still in alpha testing stage, now supports bitcoins (BTC), britcoins (UKB), botcoins (MBC), and devcoins (DVC) in addition to namecoins (NMC), enabling trading among them all. (The bottleneck of course is I only want to issue the corresponding digital tokens in numbers no greater than the number of secured by hardcoded checkpoint in clients coins I have as reserves.

That means one cannot simply send me coins and I issue tokens, because the coins you send me will not be secure enough to be a good secure reserve to back tokens with until after the release of clients that have hardcoded checkpoints protecting the block you sent those coins in from attackers trying to unravel the blockchain.

How long it typically takes for more than half of the hashing power of a blockchain to update to code that includes such updated hardcoded checkpoints probably varies from chain to chain. SO this will proably have to be a slow-growing exchange. Hopefully though it will be all the more secure for taking its time in this way.

-MarkM-

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BitcoinPorn
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December 24, 2011, 01:09:05 PM
 #49

I'm the author of AnonymOS  http://anonymos.earthsociety.org. A Gnu-Linux operating system with TOR, I2P, and Bitcoin client pre-installed. It also has many tweaks for enhanced security and privacy -- I daresay it's the most secure OS (of it's kind) on the planet.

But it needs to be better.  I'm soon to release the next version with installer, currently it's only a live-cd or you have to buy a USB drive from me to use it installed.

The beauty of this all rolled into one OS is that it makes it very easy for someone who has little knowledge to take advantage of anonymizing services -- and bitcoin too. Critically -- I2P is a router by default (unlike TOR), with many built in apps and services. The more people that use AnonymOS, the stronger the I2P network becomes -- in fact it can grow in power much more quickly than TOR has and will soon overtake TOR.

I'm seeking advice and knowledge on how to implement namecoin in either this edition, or in a later server edition that includes in-built web server and software for creating TOR-hidden-service blogs.

I really like what you are doing.  The above is one of the reasons I find it hard to support Namecoin, I don't like the fact that there is value attached to Namecoin that has nothing to do with it's services.  In theory itself I cannot find the benefits to Namecoin being a commodity on top of it being something of use.  Either be a "money" or be a "service", but when you try to be both, it will be automatically rejected every time.   

The value of the services Namecoin offers exceeds the value of it as a coin.
The value of the name coin "Coin" exceeds the value of it's services it renders.

It seems only one of these statements can be true.  I know I am simplifying things, but I am trying to understand them as I blurt all this out, what is it about the Namecoin technology that cannot be replicated and put out as some kind of open source program that people could just run to keep things going?  Would somehow the "miners" rule the Namecoin-bit-web because they control the hashing power?  In fact, would the 51% attacks that threaten coins be something that could threaten Namecoin, and if that is the case, and just being theoretical here, if that were to happen, what would happen to the domains and sites?

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