So, this is one notable difference which I think matters (not the only one). Namecoin aims to prevent financial censorship as well as technological censorship. This is why all names in Namecoin are the same price, and cannot be seized in a bidding war. If you come up with the name, it's yours, even if you don't have enough money backing you to win a bidding war. BitShares' "price discovery" mechanism is financial censorship in disguise. The Namecoin devs are looking at a price discovery mechanism which still keeps all names at the same price (but the price can float depending on certain factors), which allows reasonable prices to be maintained (even if the exchange rate does weird things) without the risk of financial censorship. The exact details of that Namecoin price discovery mechanism are still being worked out, and it's not 100% certain that it will be adopted; this is an area of active research. In any event, Namecoin will never allow names to be seized by people who have more money; for this reason I think Namecoin has much better free speech value than BitShares.Liivet wrote:I have been looking a litte into Namecoin for a while and I kinda like the idea of it, but I don't understand the registration fee part etc.
Then I head about Bitshares DNS. What is the difference between these two types other than PoW/PoS and the things mentioned in this video
I don't really care which one will end up as the "winner" even though I have invested a bit in nmc, as I am more interested in the anti-sensureship and the technology.
Thanks
/Liivet
Hello Liivet,Liivet wrote:Thanks for the quick answer. I kinda don't understand the reason for the fixed rate of registration within namecoin since if the price goes up, so will the cost of registration as well(?) witch in case will lead to a sort of financial censorship that you are talking about..
Im also wondering about the fees since it will be "burned"(?) when I buy or maintain a site..? will this not lead to namecoin in the end not having any coins left or am I missing something here?
I'm new to all of this so be gentile with me, but I have a InfoSec bachelors and want to help out if there is something I can try to do in my spare time.
I've been looking very closely at both projects in recent months. I have some strong opinions but I'm not willing to state those in a public forum at this point. I'll be happy to discuss at length by private convo though. There are other differences though, including identity mgmt, team dynamics, adding new TLDs, software ecosystem, etc. Over time these 2 will surely diverge quite significantly IMO.Liivet wrote:I have been looking a litte into Namecoin for a while and I kinda like the idea of it, but I don't understand the registration fee part etc.
Then I head about Bitshares DNS. What is the difference between these two types other than PoW/PoS and the things mentioned in this video
I don't really care which one will end up as the "winner" even though I have invested a bit in nmc, as I am more interested in the anti-sensureship and the technology.
Liivet
Sudo, please explain how the link you provided contradicts anything I said about BitShares and Namecoin. Atomic name trading has nothing to do with auction-style "price discovery".sudoquai wrote:Hello Liivet,Liivet wrote:Thanks for the quick answer. I kinda don't understand the reason for the fixed rate of registration within namecoin since if the price goes up, so will the cost of registration as well(?) witch in case will lead to a sort of financial censorship that you are talking about..
Im also wondering about the fees since it will be "burned"(?) when I buy or maintain a site..? will this not lead to namecoin in the end not having any coins left or am I missing something here?
I'm new to all of this so be gentile with me, but I have a InfoSec bachelors and want to help out if there is something I can try to do in my spare time.
thank you for your interest. Your points are absolutely correct and i am afraid i have to correct Biolizard, because there is a discussion to implement "Name Trading" into Namecoin's Software, which would lead to similar results like Bitshares efforts:
https://forum.namecoin.info/viewtopic.p ... ing#p12432
My opinion is, that it is important to implement Name Trading for Domain and Name Traders because a lot of names are "cybersquatted" from people, which have a bigger interest to sell them to people which would like to use them and give .BIT Domains value.
Trading Domain Names for an empty price would not make any sense, as you indicated correctly - trading domain names for free would lead this system into ad absurdum, and is for sure not very attractive for John Doe from Mainstreet.
You have mentioned it isn't very good to "burn" the registering fees. I agree with you: they can be just random sent to a specific Namecoin Address, as a suggestion from me, because some developer indicated they are not interested to get funds on this way.
Best regards,
Sudo.
The simple point i am trying to underline is that names should be tradeable in Namecoin as well - like i've already mentioned: by paying for them to give them value.biolizard89 wrote:Sudo, please explain how the link you provided contradicts anything I said about BitShares and Namecoin. Atomic name trading has nothing to do with auction-style "price discovery".sudoquai wrote:Hello Liivet,Liivet wrote:Thanks for the quick answer. I kinda don't understand the reason for the fixed rate of registration within namecoin since if the price goes up, so will the cost of registration as well(?) witch in case will lead to a sort of financial censorship that you are talking about..
Im also wondering about the fees since it will be "burned"(?) when I buy or maintain a site..? will this not lead to namecoin in the end not having any coins left or am I missing something here?
I'm new to all of this so be gentile with me, but I have a InfoSec bachelors and want to help out if there is something I can try to do in my spare time.
thank you for your interest. Your points are absolutely correct and i am afraid i have to correct Biolizard, because there is a discussion to implement "Name Trading" into Namecoin's Software, which would lead to similar results like Bitshares efforts:
https://forum.namecoin.info/viewtopic.p ... ing#p12432
My opinion is, that it is important to implement Name Trading for Domain and Name Traders because a lot of names are "cybersquatted" from people, which have a bigger interest to sell them to people which would like to use them and give .BIT Domains value.
Trading Domain Names for an empty price would not make any sense, as you indicated correctly - trading domain names for free would lead this system into ad absurdum, and is for sure not very attractive for John Doe from Mainstreet.
You have mentioned it isn't very good to "burn" the registering fees. I agree with you: they can be just random sent to a specific Namecoin Address, as a suggestion from me, because some developer indicated they are not interested to get funds on this way.
Best regards,
Sudo.
Also please explain how sending name fees to a random address is different from sending them to an unspendable output. You are not making any sense.
Things like this can not work as they would give an incentive to create as many addresses as possible or flood blocks.sudoquai wrote: The big advantage by sending register fees to a random address is: Coins are not destroyed and it's an additional nice feature for the WHOLE NMC Community ("Oh i've got some NMC today .. nice). Maybe its a better idea to send them to a random wallet address, which is connected with a specific /ID name. This would help the native /ID namespace gaining more interest.
Also destroying coins is much easier and provably fair.satoshi wrote: Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.
phelix wrote:Things like this can not work as they would give an incentive to create as many addresses as possible or flood blocks.sudoquai wrote: The big advantage by sending register fees to a random address is: Coins are not destroyed and it's an additional nice feature for the WHOLE NMC Community ("Oh i've got some NMC today .. nice). Maybe its a better idea to send them to a random wallet address, which is connected with a specific /ID name. This would help the native /ID namespace gaining more interest.
Yeah, i've thought the same thing - but i've waited first for a comment or a suggestion to solve this problem. But i've got a better idea right now.satoshi wrote: Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.
What about spreading the fees to ALL addresses ? Would this work better ?
It's brainstorming - this doesn't mean that a idea is good but important to talk about it - maybe somebody has suggestions to improve a bad idea.
An other model would be the distribution of the renewal fees over a voting system (which is not implemented yet). Think of it like Facebook Likes (for whatever reason, like for a nice nose, or friends like, etc).
The one with the most likes will get the most coins - why not. Of course people would try to collect a lot of votes - let them do itThis would help Namecoin adoption for sure, imho.
Greets.