[announce] Namecoin - a distributed naming system based on Bitcoin

[renee25]

If Namecoin were listed on binance, it would go to $1000.

I asked Grok, and this is what he said:

Given the additional information you've provided, let's reason through this step by step:

Step 1: Understanding Hashrate in Context of Merged Mining

    Merged Mining: Namecoin uses merged mining with Bitcoin, meaning miners can mine both Namecoin and Bitcoin simultaneously. This process allows Namecoin to leverage the computational power (hashrate) of the Bitcoin network.
    Hashrate Comparison: You've mentioned that Namecoin's hashrate is half of Bitcoin's due to merged mining. This is significant because:
        Security: A hashrate that's half of Bitcoin's still provides substantial security since Bitcoin's network is one of the most secure due to its high hashrate. Therefore, Namecoin benefits from this shared security, reducing the risk of 51% attacks.
        Mining Incentive: Miners are incentivized to mine both coins because they can earn rewards from both, which indirectly supports Namecoin's network security by tying it to Bitcoin's.


Step 2: Analyzing the Challenge of Lack of Exchanges

    Exchange Availability: You've highlighted that the real challenge for Namecoin is the lack of exchanges offering trading. This is crucial because:
        Liquidity: Fewer exchanges mean less liquidity. Liquidity is vital for any asset as it affects how easily one can buy or sell Namecoin without significantly impacting its price.
        Visibility and Accessibility: Being listed on fewer exchanges reduces Namecoin's visibility to potential investors and traders, limiting its market reach and accessibility.
        Price Discovery: With limited trading venues, the price discovery process might be less efficient, potentially leading to price volatility or undervaluation due to less market activity.


Step 3: Impact on Namecoin's Value and Adoption

    Market Cap and Price: The lack of exchange availability directly impacts Namecoin's market cap and price. With fewer places to trade, the demand might be suppressed, keeping the price lower than it might be with broader exchange support.
    Adoption: For broader adoption, especially in the context of decentralized naming systems or other use cases Namecoin aims to support, having more trading options would be beneficial. It would make it easier for developers, users, and investors to acquire Namecoin, fostering growth in its ecosystem.


Step 4: Conclusion
Given these points:

    Hashrate: The fact that Namecoin's hashrate is half of Bitcoin's due to merged mining provides a robust security framework, which is positive for Namecoin's credibility and safety. However, this technical aspect alone isn't enough to drive value if market dynamics are not favorable.
    Lack of Exchanges: This is indeed a significant challenge. The limited number of exchanges reduces Namecoin's market presence, liquidity, and potential for growth. It's a critical barrier to increasing its adoption and market value.
    Strategy for Improvement: To address this, Namecoin would benefit from:
        Increasing Exchange Listings: More listings on reputable exchanges would enhance visibility, liquidity, and accessibility.
        Community and Marketing Efforts: Efforts to promote Namecoin's unique features and use cases could attract developers and users, potentially leading to increased demand.
    Did I Know This?: Yes, with the information provided, I now understand that the primary challenge for Namecoin's growth and valuation isn't its technical security or mining efficiency due to merged mining, but rather the lack of trading options on exchanges, which significantly impacts its market dynamics.


This analysis underscores the importance of market infrastructure like exchange listings in the valuation and adoption of cryptocurrencies, beyond just their technical attributes.

Asking about a Binance listing:

Step 3: Applying the Binance Effect to Namecoin
Given Namecoin's current price of $1, let's apply the average percentage increase from the Binance Effect:

    Current Price of Namecoin: $1
    Expected Increase: +41%

[nutildah]

If Namecoin were listed on binance, it would go to $1000.

I asked Grok, and this is what he said:
...
Asking about a Binance listing:

Step 3: Applying the Binance Effect to Namecoin
Given Namecoin's current price of $1, let's apply the average percentage increase from the Binance Effect:

    Current Price of Namecoin: $1
    Expected Increase: +41%

This is actually the best use of AI I've seen on the forum so far. And you did it the right way by attributing the text to Grok 👍

Gonna take a lot more than Binance to really pump Namecoin.

[biolizard89]

i think Bio is taking it too far by requesting small changes to the website be done thru github.
Because any non-programmer will probably put off by that. it's too dificult.

This is, uh, not a thing? Plenty of changes to the website have been proposed and/or coordinated outside of GitHub. :/

He could at least put several polls about the direction of the coin.

...you do realize that you're free to make unsolicited suggestions, right? Lots of people do exactly that. Sometimes those unsolicited suggestions get adopted.

[wiked1]

https://x.com/0xHemanTrades

Any idiot can now launch a turd on solana these days

[biolizard89]

Namecoin will be at 38C3 and FOSDEM 2025🚀🚀🚀

https://www.namecoin.org/2024/12/16/38c3-fosdem-2025.html

Summary of Namecoin at 38C3: https://www.namecoin.org/2025/03/30/38c3-summary.html

(It took longer than desired to get the 38C3 content posted, but such is life. Hopefully the official recordings will be up soon, but in the meantime, a decent amount of content is in the live stream archives.)

Meanwhile, SocksTrace is transitioning from ptrace to seccomp userspace notifications. Explanation by Robert: https://www.namecoin.org/2025/03/30/sockstrace-seccomp-notify.html

And last but certainly not least, three new grants for TLS and anonymity research. https://www.namecoin.org/2025/03/30/namecoin-tls-anonymity-research-funding-power-up-privacy-nlnet-ngi0-core.html

Two of the grants come from a new funder, Power Up Privacy, so please welcome PUP to Namecoin's increasingly diverse sponsor list. We're also excited that one of the grants is for a new developer (Alice); please give her a warm welcome. We're also quite pleased that funded collaboration with Tor Project is continuing.

[IMZ Noo Account]

I got namecoin-core-nc28.0 on my Downloads page, but it's a mystery to me!

Is there no 'click-n-go' wallet for ordinary folks? I can store NMC on my Komodo wallet, but I'd like to understand the QT.

IndiaMikeZulu

[biolizard89]

Some more details have been published about the anonymity research project that Power Up Privacy is funding, which has been named Occlumask: https://www.namecoin.org/2025/05/11/occlumask-introduction.html

Meanwhile some major code quality improvements have happened in ncp11: https://www.namecoin.org/2025/05/13/code-quality-improvements-in-ncp11.html

I got namecoin-core-nc28.0 on my Downloads page, but it's a mystery to me!

Is there no 'click-n-go' wallet for ordinary folks? I can store NMC on my Komodo wallet, but I'd like to understand the QT.

IndiaMikeZulu

You're likely to get faster answers on the Namecoin Matrix channel, but if you prefer to ask your question here for whatever reason, feel free.

[IMZ Noo Account]

'You're likely to get faster answers on the Namecoin Matrix channel, but if you prefer to ask your question here for whatever reason, feel free.'

Gee, biolizard, it would be great to get help with setting up a QT without having to adopt a new communication channel! Here or Reddit would be good. And is there not a Discord?

[biolizard89]

'You're likely to get faster answers on the Namecoin Matrix channel, but if you prefer to ask your question here for whatever reason, feel free.'

Gee, biolizard, it would be great to get help with setting up a QT without having to adopt a new communication channel! Here or Reddit would be good. And is there not a Discord?

> Tries to use a privacy-focused project
> Is angry that the project doesn't use Discord for tech support

Not sure if I should be laughing or facepalming.

[IMZ Noo Account]

'
> Tries to use a privacy-focused project
> Is angry that the project doesn't use Discord for tech support

Not sure if I should be laughing or facepalming.'

Gee, sarcasm in response to a polite potential-adopter enquiry!! Well done, you.

[biolizard89]

'
> Tries to use a privacy-focused project
> Is angry that the project doesn't use Discord for tech support

Not sure if I should be laughing or facepalming.'

Gee, sarcasm in response to a polite potential-adopter enquiry!! Well done, you.

You haven't made any "enquiries [sic]". This is your third straight post in which you purported to have a question but declined to actually state what the question was.

Bullshit is an inverse-PoW function, and most freedom software devs don't consider inverse-PoW to be "polite". To avoid falling victim to further inverse-PoW, I do not have any plans to answer your "enquiry [sic]", in the unlikely event that you ever actually decide to make one.

Happy hacking.

[IMZ Noo Account]

.

[IMZ Noo Account]

'I got namecoin-core-nc28.0 on my Downloads page, but it's a mystery to me!'

Can you explain how to open and run namecoin-core-nc28.0?



Edit: My post on Reddit Namecoin has been deleted, and I've been banned for 'being a troll'! It's amazing. I am a crypto geek in good standing. Never been banned in 12 years of devving in communities. Sheesh!

IndiaMikeZulu

[biolizard89]

A good recent real-world example of why you probably wouldn't want to use Namecoin for timestamping, with OpenTimestamps being a more scalable alternative:

https://projecttimestamper.org/

This kind of large-scale operation would be prohibitively expensive with Namecoin, whereas OpenTimestamps makes it so cheap that Peter can fund the transactions with donations. The developers do give a shout-out to Namecoin for PKI purposes, which is cool. Use the right tool for the job!

If Namecoin were listed on binance, it would go to $1000.

BasicSwap is way cooler than Binance. And... they just added Namecoin! (Yes, we do engage in outreach to exchanges; this is a good result of those efforts.)

https://basicswapdex.com/

[benzi]

A good recent real-world example of why you probably wouldn't want to use Namecoin for timestamping, with OpenTimestamps being a more scalable alternative:

https://projecttimestamper.org/

This kind of large-scale operation would be prohibitively expensive with Namecoin, whereas OpenTimestamps makes it so cheap that Peter can fund the transactions with donations. The developers do give a shout-out to Namecoin for PKI purposes, which is cool. Use the right tool for the job!

If Namecoin were listed on binance, it would go to $1000.

BasicSwap is way cooler than Binance. And... they just added Namecoin! (Yes, we do engage in outreach to exchanges; this is a good result of those efforts.)

https://basicswapdex.com/

Apart from bisq where the liquidity wasn't that deep for namecoin a while back I checked I was looking to atomic swap some of my Monero for Namecoin, but was hesitant might try basicswapdex.

Have you given it a go if so, how's the experience? Would it be best to join their matrix to get help getting started instead of jumping right in appreciate it