Should Namecoin Emphasize Currency Over Name?

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FrictionlessCoin
Posts: 27
Joined: Fri Dec 27, 2013 4:34 pm
os: mac

Should Namecoin Emphasize Currency Over Name?

Post by FrictionlessCoin »

Let's open up this debate.

Namecoin has is now at nearly $5 per coin with a market cap of $36 million.

However, the use of Namecoin at this time for payment is problematic for several reasons.

(1) Namecoin promotion has focused primarily on .bit DNS system.
(2) Namecoin wallets are not at the level of Bitcoin with the lack of support for encryption.
(3) Namecoin clients rarely exist, we don't find clients for Mac OS X, Android or even web based wallets. People are storing most of their namecoin on exchanges that can potentially be hacked.

I would like to see a new emphasis on the currency aspects of Namecoin.

Specifically a commitment that Namecoin will build software and tools to support the secure storage of NMC coins. Further, I would like to see more exploration on using the name registration system to support financial instruments such as coupons and contracts.

virtual_master
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Re: Should Namecoin Emphasize Currency Over Name?

Post by virtual_master »

Re: Should Namecoin Emphasize Currency Over Name?
Not over Name. Because they are already almost 100 currency-coins. But it is not wrong to develop this side also.
FrictionlessCoin wrote:Let's open up this debate.

Namecoin has is now at nearly $5 per coin with a market cap of $36 million.

However, the use of Namecoin at this time for payment is problematic for several reasons.

(1) Namecoin promotion has focused primarily on .bit DNS system.
(2) Namecoin wallets are not at the level of Bitcoin with the lack of support for encryption.
(3) Namecoin clients rarely exist, we don't find clients for Mac OS X, Android or even web based wallets. People are storing most of their namecoin on exchanges that can potentially be hacked.
1. .bit and id/ is already developed but they are many other user cases.
2. Not on the level of Bitcoin but there is a Namecoin-qt client with encryption and name support also. A Namecoin brain wallet can be used also for storage.
3. This is true. I am not sure how is with Mac but OSX and Android especially lacks.A webwallet like blockchain.info with name support and API could be also useful.
'People are storing most of their namecoin on exchanges that can potentially be hacked.' - I don't think in significant amounts.
I could have also 0.1 NMC there but not more.
Whatever you do for Android and OSX you are welcome. Anything is better than nothing.
FrictionlessCoin wrote: I would like to see a new emphasis on the currency aspects of Namecoin.

Specifically a commitment that Namecoin will build software and tools to support the secure storage of NMC coins. Further, I would like to see more exploration on using the name registration system to support financial instruments such as coupons and contracts.
Sure. This was also listed as possible application and Phelix already wrote some specifications:
https://bitcointalk.org/index.php?topic=123271.0
Here still lacks a proper implementation.

If you are a maker then just make it. :) Nobody will stop you if you want to develop something for Namecoin.
When you already worked with the source code of Multibit then it seems reasonable that you can work with it more efficiently.
http://namecoinia.org/
Calendars for free to print: 2014 Calendar in JPG | 2014 Calendar in PDF Protect the Environment with Namecoin: 2014 Calendar in JPG | 2014 Calendar in PDF
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snailbrain
Posts: 309
Joined: Tue Jul 19, 2011 9:33 pm

Re: Should Namecoin Emphasize Currency Over Name?

Post by snailbrain »

FrictionlessCoin wrote:Let's open up this debate.

Namecoin has is now at nearly $5 per coin with a market cap of $36 million.

However, the use of Namecoin at this time for payment is problematic for several reasons.

(1) Namecoin promotion has focused primarily on .bit DNS system.
(2) Namecoin wallets are not at the level of Bitcoin with the lack of support for encryption.
(3) Namecoin clients rarely exist, we don't find clients for Mac OS X, Android or even web based wallets. People are storing most of their namecoin on exchanges that can potentially be hacked.

I would like to see a new emphasis on the currency aspects of Namecoin.

Specifically a commitment that Namecoin will build software and tools to support the secure storage of NMC coins. Further, I would like to see more exploration on using the name registration system to support financial instruments such as coupons and contracts.
Namecoin-qt should work on Mac (Lion+) - it also has encryption (as does namecoind compiled from the repo).
https://bitcointalk.org/index.php?topic=236375.0
http://www.mediafire.com/folder/3aa8ukj ... amecoin-qt
Maybe Cassini has also compiled the qt on mac? not sure

Android client would be good though :)

atm, the problem with namecoin is probably more about awareness of it's existence. but, slowly but surely i think namecoin is becoming known.
any work on namecoin is great, and the amount of people popping up now with namecoin projects is pretty "good"

FrictionlessCoin
Posts: 27
Joined: Fri Dec 27, 2013 4:34 pm
os: mac

Re: Should Namecoin Emphasize Currency Over Name?

Post by FrictionlessCoin »

snailbrain wrote:
FrictionlessCoin wrote:Let's open up this debate.

Namecoin has is now at nearly $5 per coin with a market cap of $36 million.

However, the use of Namecoin at this time for payment is problematic for several reasons.

(1) Namecoin promotion has focused primarily on .bit DNS system.
(2) Namecoin wallets are not at the level of Bitcoin with the lack of support for encryption.
(3) Namecoin clients rarely exist, we don't find clients for Mac OS X, Android or even web based wallets. People are storing most of their namecoin on exchanges that can potentially be hacked.

I would like to see a new emphasis on the currency aspects of Namecoin.

Specifically a commitment that Namecoin will build software and tools to support the secure storage of NMC coins. Further, I would like to see more exploration on using the name registration system to support financial instruments such as coupons and contracts.
Namecoin-qt should work on Mac (Lion+) - it also has encryption (as does namecoind compiled from the repo).
https://bitcointalk.org/index.php?topic=236375.0
http://www.mediafire.com/folder/3aa8ukj ... amecoin-qt
Maybe Cassini has also compiled the qt on mac? not sure

Android client would be good though :)

atm, the problem with namecoin is probably more about awareness of it's existence. but, slowly but surely i think namecoin is becoming known.
any work on namecoin is great, and the amount of people popping up now with namecoin projects is pretty "good"

I don't think the Mac OS X port even works.

snailbrain
Posts: 309
Joined: Tue Jul 19, 2011 9:33 pm

Re: Should Namecoin Emphasize Currency Over Name?

Post by snailbrain »

FrictionlessCoin wrote:
snailbrain wrote:
FrictionlessCoin wrote:Let's open up this debate.

Namecoin has is now at nearly $5 per coin with a market cap of $36 million.

However, the use of Namecoin at this time for payment is problematic for several reasons.

(1) Namecoin promotion has focused primarily on .bit DNS system.
(2) Namecoin wallets are not at the level of Bitcoin with the lack of support for encryption.
(3) Namecoin clients rarely exist, we don't find clients for Mac OS X, Android or even web based wallets. People are storing most of their namecoin on exchanges that can potentially be hacked.

I would like to see a new emphasis on the currency aspects of Namecoin.

Specifically a commitment that Namecoin will build software and tools to support the secure storage of NMC coins. Further, I would like to see more exploration on using the name registration system to support financial instruments such as coupons and contracts.
Namecoin-qt should work on Mac (Lion+) - it also has encryption (as does namecoind compiled from the repo).
https://bitcointalk.org/index.php?topic=236375.0
http://www.mediafire.com/folder/3aa8ukj ... amecoin-qt
Maybe Cassini has also compiled the qt on mac? not sure

Android client would be good though :)

atm, the problem with namecoin is probably more about awareness of it's existence. but, slowly but surely i think namecoin is becoming known.
any work on namecoin is great, and the amount of people popping up now with namecoin projects is pretty "good"

I don't think the Mac OS X port even works.
worked for maxpower and a few others (also note it works on linux and mac, i think your post in the namecoin-qt thread assumed it only works on windows).

maybe you could help test/compile :)

biolizard89
Posts: 2001
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Re: Should Namecoin Emphasize Currency Over Name?

Post by biolizard89 »

FrictionlessCoin wrote:Let's open up this debate.

Namecoin has is now at nearly $5 per coin with a market cap of $36 million.

However, the use of Namecoin at this time for payment is problematic for several reasons.

(1) Namecoin promotion has focused primarily on .bit DNS system.
(2) Namecoin wallets are not at the level of Bitcoin with the lack of support for encryption.
(3) Namecoin clients rarely exist, we don't find clients for Mac OS X, Android or even web based wallets. People are storing most of their namecoin on exchanges that can potentially be hacked.

I would like to see a new emphasis on the currency aspects of Namecoin.

Specifically a commitment that Namecoin will build software and tools to support the secure storage of NMC coins. Further, I would like to see more exploration on using the name registration system to support financial instruments such as coupons and contracts.
I generally agree with virtual_master's comments. As additional notes, I would like to point out that there is active discussion of cold storage with Armory, as well as secure lite clients using SPV+UTXO which could be implemented on Android as well as other platforms. Most web-based wallets are extremely insecure; look at the history there. As such, I don't recommend storing namecoins in web wallets.
Jeremy Rand, Lead Namecoin Application Engineer
NameID: id/jeremy
DyName: Dynamic DNS update client for .bit domains.

Donations: BTC 1EcUWRa9H6ZuWPkF3BDj6k4k1vCgv41ab8 ; NMC NFqbaS7ReiQ9MBmsowwcDSmp4iDznjmEh5

sudoquai
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Re: Should Namecoin Emphasize Currency Over Name?

Post by sudoquai »

Interesting thread - in my opinion there is no reason not to use Namecoin for payment as well!

As far as i know Namecoin is a data container giving Namecoins a real intrinsic value. .BIT domains are "only" a usage case using the Namecoin framework (but a good one). And Namecoins could be easily transfered like Bitcoins. The fact that wallets are missing, which are easy to install (Mac, different Linux packages) is not a feature ...
NameID: id/sudo.wonder >>> Namecoin @ Facebook: https://www.facebook.com/namecoin.org

kurt
Posts: 144
Joined: Fri Jan 03, 2014 6:13 pm
os: windows

Re: Should Namecoin Emphasize Currency Over Name?

Post by kurt »

In my humble opinion

Its a currency - with potential - totally overprice domain name registration and grab a headline

its worth a try
Last edited by kurt on Tue Jan 21, 2014 5:06 pm, edited 1 time in total.

cassini
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Re: Should Namecoin Emphasize Currency Over Name?

Post by cassini »

I think the currency feature is as important as the name feature.
There is no incentive to mine or merge-mine Namecoin if NMCs have no monetary value (i.e. interchangeable with Bitcoin and fiat money).
FrictionlessCoin wrote:I don't think the Mac OS X port even works.
maxpower's Namecoin-Qt works. Not sure if it is a perfectly clean build as there is a strange debug message on startup. That's why I am using my own compiled 0.3.51/hardforkpatched version on my Mac all the time. In fact, I've never used a Namecoin client on Windows/Linux except for a few tests.
Compiling Qt for Mac is on my todo list for March. I'll also try to write an automated build.

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