Namecoin's existence, how much time left.

e234679
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Namecoin's existence, how much time left.

Post by e234679 » Thu Jun 26, 2014 10:59 pm

I'm a risky investor type. I have a good amount in NMC, low tens of thousand. So yeh this is the name of the game.

I get the impression there's good people that have done good work, and it may exist for all time as the decentralized .bit

I say this .bit feature is 90% done. Yet the idea itself isn't good enough, and if that's all Namecoin settles into actually doing, it'll be no more than a $1 coin. Not even namecoin.info advertises "check us out at namecoin.bit"!

If any of the other ideas aren't in full swing soon, like 4/5 months, someone else will definitely step in and win. Ideas as in identity, contracts, certificates, ...

If Litecoin decides to add 1KB data entries into their blockchain, it's over.

If some other non-proof-of-work coin wins the hearts of companies, like Ripple, and includes data, it's over.

If Namecoin is legally blacklisted as copyright squatters, the expenses to defend in court will be too high, done.

If one more critical whole is found in the registration protocol, $0 time.

Notice how all alt coins are falling to bitcoin. There's no mercy.

----

It can be a beneficial thing to look at worse case scenarios, and to hold yourself to high standards. This is Wild West territory. The rules are being made as we go. Anything can happen.

domob
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Re: Namecoin's existence, how much time left.

Post by domob » Fri Jun 27, 2014 5:41 am

I understand your concern - but note that there have already been competitors that announced to be better than Namecoin soon and everyone failed so far. (See Keyhotee / Bitshares for a starter.) But yes, I realise that there may be a lot of competition coming up.

As you stated yourself, there are a lot of ideas floating around for lots of innovative use-cases of Namecoin to accomplish things which have not been possible so far. But we simply have too little time to do them, since we're all working on it in our spare time besides full-time jobs for a living. From what you state, it looks like you have much more coins than all "core devs" combined. If you want to help out a bit and spur innovation / development, why not donate some coins to the NMDF (run by phelix) or set up concrete bounties for things which are your personal priority? I'm sure that would attract attention - I would definitely be able to spend some more time on precisely your wishlist item if I could prioritise it with respect to other things I do to earn a little extra money. And I would be glad if I could work on Namecoin instead of the things I'm doing for payment right now. It could even prove to be a profitable investment, if it helps to make Namecoin useful to a broader audience! :)
Last edited by domob on Fri Jun 27, 2014 7:00 am, edited 1 time in total.
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Use your Namecoin identity as OpenID: https://nameid.org/

e234679
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Re: Namecoin's existence, how much time left.

Post by e234679 » Fri Jun 27, 2014 6:51 am

Sounds about right in response.

Now that I think if it, a lot of times people do new idea development in secret, partly to ward off copy cats, and sometimes to generate surprise in a good way. So to think no one is working on anything except those who say they are public is not true.

Good to blow off a little steam of concerns even if they're not super relevant. anyone else... :}

phelix
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Re: Namecoin's existence, how much time left.

Post by phelix » Fri Jun 27, 2014 8:43 am

domob wrote:I understand your concern - but note that there have already been competitors that announced to be better than Namecoin soon and everyone failed so far. (See Keyhotee / Bitshares for a starter.) But yes, I realise that there may be a lot of competition coming up.

As you stated yourself, there are a lot of ideas floating around for lots of innovative use-cases of Namecoin to accomplish things which have not been possible so far. But we simply have too little time to do them, since we're all working on it in our spare time besides full-time jobs for a living. From what you state, it looks like you have much more coins than all "core devs" combined. If you want to help out a bit and spur innovation / development, why not donate some coins to the NMDF (run by phelix) or set up concrete bounties for things which are your personal priority? I'm sure that would attract attention - I would definitely be able to spend some more time on precisely your wishlist item if I could prioritise it with respect to other things I do to earn a little extra money. And I would be glad if I could work on Namecoin instead of the things I'm doing for payment right now. It could even prove to be a profitable investment, if it helps to make Namecoin useful to a broader audience! :)
this

@OP: Certainly there is a risk, you say so yourself. But how could there be change without risk...
nx.bit - some namecoin stats
nf.bit - shortcut to this forum

virtual_master
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Re: Namecoin's existence, how much time left.

Post by virtual_master » Fri Jun 27, 2014 9:07 am

Namecoin was long time alone with its unique features but now appeared a lot of coins which claim similar features.
They are still not better but they have money and can afford a good marketing campaign and a paid development team.
Namecoin had a clean start with no premine or instamine and even no crowd-funding. Unfortunately Namecoins honesty is less worth then an army of paid spammers.
What we need urgently is a crowdfunding. Keeping the basic structure clean and free the crowdfundings could cover different features build on the basic structure and bring some funds in the development and in the marketing.
People like freedom but they like money even more and they will unlikely spend their money to improve their freedom.
By Bitcoin is different as many owners are known and they improve their image in the community if they donate for the project.
We need to offer investment return also for the investors not only a good purpose for the freedom. This could be done as proposed above.
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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sudoquai
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Re: Namecoin's existence, how much time left.

Post by sudoquai » Fri Jun 27, 2014 1:47 pm

e234679 wrote:I'm a risky investor type. I have a good amount in NMC, low tens of thousand. So yeh this is the name of the game.

I get the impression there's good people that have done good work, and it may exist for all time as the decentralized .bit

I say this .bit feature is 90% done. Yet the idea itself isn't good enough, and if that's all Namecoin settles into actually doing, it'll be no more than a $1 coin. Not even namecoin.info advertises "check us out at namecoin.bit"!

If any of the other ideas aren't in full swing soon, like 4/5 months, someone else will definitely step in and win. Ideas as in identity, contracts, certificates, ...

If Litecoin decides to add 1KB data entries into their blockchain, it's over.

If some other non-proof-of-work coin wins the hearts of companies, like Ripple, and includes data, it's over.

If Namecoin is legally blacklisted as copyright squatters, the expenses to defend in court will be too high, done.

If one more critical whole is found in the registration protocol, $0 time.

Notice how all alt coins are falling to bitcoin. There's no mercy.

----

It can be a beneficial thing to look at worse case scenarios, and to hold yourself to high standards. This is Wild West territory. The rules are being made as we go. Anything can happen.
Full Ack. I own a significant value of NMC as well. It is mentionable, that there is good movement in the Namecoin community at the moment, which keeps your arguments in mind. If you can help with a contribution or a good idea feel free to share it with the Namecoin Community as it will help the further Development of Namecoin.

Many people believe that the "every year a bubble for each ALT" sheme repeats under all circumstances. This is wrong - every pattern or chart only mirrors fundamentals and this means - hard work and the right decisions.

Especially competitors like NXT and Bitshares are mentionable - of course they do some parts better and of course they are not so good at other parts.

Mentionable that Namecoin has a lot of advantages compared to its competitors:

* First fork of Bitcoin, Satoshi helped to design Namecoin (very good for Marketing)
* Mergemining with Bitcoin together (Secure Network as long as Bitcoin exists)
* Open Source (unlike NXT)
* Nearly 1:1 difficulty to Bitcoin
* It acts like a data storage with Applications which are using the Namecoin Blockchain already (/id Namespace, http://openid.org, http://onename.io, http://oneid.io, http://monegraph.com, etc.)

Thx for your hint, you are welcome.
NameID: id/sudo.wonder >>> Namecoin @ Facebook: https://www.facebook.com/namecoin.org

e234679
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Re: Namecoin's existence, how much time left.

Post by e234679 » Fri Jun 27, 2014 7:22 pm

devcoin and IXcoin also merged mined like NMC but they're not worth much

the difficulty itself isn't worth much to the coin other than the guarantee transaction will go smoothly

it's like the worth of a company that is protected by the US army. I can easily start a new small company, and the army will protect it from attack, but that won't make it worth anything

kurt
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Re: Namecoin's existence, how much time left.

Post by kurt » Fri Jun 27, 2014 9:02 pm

sudoquai wrote:


Full Ack. I own a significant value of NMC as well. It is mentionable, that there is good movement in the Namecoin community at the moment, which keeps your arguments in mind. If you can help with a contribution or a good idea feel free to share it with the Namecoin Community as it will help the further Development of Namecoin.

Many people believe that the "every year a bubble for each ALT" sheme repeats under all circumstances. This is wrong - every pattern or chart only mirrors fundamentals and this means - hard work and the right decisions.

Especially competitors like NXT and Bitshares are mentionable - of course they do some parts better and of course they are not so good at other parts.

Mentionable that Namecoin has a lot of advantages compared to its competitors:

* First fork of Bitcoin, Satoshi helped to design Namecoin (very good for Marketing)
* Mergemining with Bitcoin together (Secure Network as long as Bitcoin exists)
* Open Source (unlike NXT)
* Nearly 1:1 difficulty to Bitcoin
* It acts like a data storage with Applications which are using the Namecoin Blockchain already (/id Namespace, http://openid.org, http://onename.io, http://oneid.io, http://monegraph.com, etc.)

Thx for your hint, you are welcome.
Namecoin is a massive added boost to Bitcoin it complements it nicely without threatening its supremacy.
WHEN Bitcoin goes Massive Namecoin gets all the exposure it could ever have dreamed of.

When a group of people copy something its actually a complement.


United we stand divided we fall

e234679
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Joined: Tue Feb 04, 2014 5:11 am
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Re: Namecoin's existence, how much time left.

Post by e234679 » Sat Jun 28, 2014 12:11 am

Moved to General Discussion? Humbling...

Anyhow, again worse case scenario thinking can be a good protection mechanism, if it isn't indiscriminately critical, or corrosive to the community.

So some things protecting NMC, proof-of-work vs. non-proof-of-work, and the NMC/BTC people themselves.

For example, I don't think a proof-of-work NMC-like coin could easily just start up and pass it up, there's plenty of people who would react in defense. I think plenty of BTC people would help out if we cried loud enough.

And in order for a NON-proof-of-work NMC-like coin to be beat NMC, that would be hard, because the general public is still even unsure about p-o-w. NON-p-o-w doesn't offer better security.

tosh0
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Re: Namecoin's existence, how much time left.

Post by tosh0 » Mon Jul 07, 2014 11:17 am

Well if other coin offers the same, or any improvement, it should not be difficult to just fork the changes and update NMC?

i don't think it's a threat yet, if nmc has gone this far without development, one only can imagine what will happen if some traders at btc-e or pools, start helping a little with pull requests or tipping. (it's in their own interest)

hopefully someone is just waiting to gather low priced NMC and for a 1.0 btc release to update the code or offer a bountie...
NMC: more stable than BTC!

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