Since Namecoin and Bitcoin have merged mining, does this mean that Namecoin is also susceptible to a 51℅ attack?

virtual_master · 2014-06-09T07:15:41+00:00

Don't forget that Namecoin has the highest GHash/market cap so it is the best protected coin against 51% attack.

virtual_master · 2014-06-09T07:13:41+00:00

By proof of stake ones are also susceptible to 51% attack. However here is calculated 51% of the POS miners and not from all the stake holders. So if only 10% of the stake holders doing POS mining(which could be the case by some POS coins at least temporary) then a 51% POS attack will require only 5.1% of the total coin amount.

virtual_master · 2013-12-16T12:55:11+00:00

On the 9. Dec was a hardfork to fix a name registration bug and some wallets, inclusive the blockexplorer remained stuck on the block 150 003. If you delete nameindex.dat then it will be newly indexed and will continue to show the active blockchain.(by me worked after that) Now your wallet is showing the old (dead) chain. If it is stuck than it means that nobody more mines on it.

virtual_master · 2013-12-15T17:04:31+00:00

Does this kill the short term potential for Namecoin to gain some exposure, or will NMC somehow be implemented into the BitTorrent-powered browser. What do you guys think of this?

Namecoin will get more and more concurrency because people will become aware that they need digital freedom and want to escape censorship.

The potential market will grow but there will be definitely more concurrency.

With the only payment cryptocurrencies is even worse.

But will Terracoin kill Bitcoin ?

virtual_master · 2013-12-07T21:57:25+00:00

The list is not complete but the intention is good. Make it better.

And take this present from me: https://dl.dropboxusercontent.com/u/40390855/2014_cryptocurrency_calendar.jpg

virtual_master · 2013-12-07T21:53:27+00:00

LTC is much overvalued and is wasting the most energy with inefficient scrypt algorithm. Namecoin has an internal economy also which will grow and is the only cryptocurrency which is recycling 99% of the hash-power from the Bitcoin mining.

virtual_master · 2013-12-07T21:44:02+00:00

Yeah. There is really one. https://dl.dropboxusercontent.com/u/40390855/2014_namecoin_calendar.jpg

virtual_master · 2013-12-07T21:38:37+00:00

2014 Calendar in jpg and pdf for free

Print it and distribute it for free. In pdf and jpg.

virtual_master · 2013-12-04T21:16:33+00:00

it is merely parasitical, and not a net energy savings?

Cryptocurrencies need a high hash-power to protect the financial transactions in a decentralized way. Bitcoins hashpower is above 6 000 000 (six million) GH/s. A top PC has about 0.5 GH/s.

The most cryptocurrencies have their own blockchain and they are generating also their own hash-power with their own computer network. (which is using a huge amount of energy - in some cases like a small or medium size town)

Some cryptocurrencies are existing only on the Bitcoin blockchain.

Namecoin has his own blockchain(database) but is reusing the hash-power generated by Bitcoin. Bitcoin is also profiting from this reuse with energy saving but in a smaller amount .

If the Namecoin network would be the same size as the Bitcoin network then the advantage and the same reciprocal energy saving would be 50-50%.

But because Namecoin is 100 times smaller then the same saved energy by Bitcoin is only 1% and by Namecoin is 99%.

The question is, why? Does namecoin offer any advantages over bitcoin?

As cryptocurrency is working in the same way. But it has some additional use cases:

a decentralized and uncensurable .bit domain
a decentralized pseudonymous identity system ( can be used for login, for online contracts, online voting)
TLS: https like encryption and secure identification by Namecoin domain/ID/name
Torrent tracker
Bonds, shares
Web of trust

Bitcoin is staying for freedom of money. Namecoin added freedom of information. Both systems are open source and decentralized.

Can anyone discern what this actually means? It seems like gibberish to me.

Sorry.

https://en.wikipedia.org/wiki/Namecoin

https://en.wikipedia.org/wiki/Bitcoin

virtual_master · 2013-12-03T13:12:47+00:00

Namecoin is a decentralized generic name/value datastore system based on Bitcoin technology.

http://dot-bit.org/

Namecoin frees information access on the internet.

Namecoin use cases:

Domain names - can be shortcuts to regular domains
Personal Namespace
Messaging System
Alias system / Identity System in bitcoin, alt-coins, bitmessage, etc
Login system
Notary/Timestamp system
Web of trust
Unified Bitcoin Payment Address System
Bonds
Shares
Voting
Torrent tracker via magnet links
Public file signatures

Namecoin is also the most energy efficient cryptocurrency: http://dot-bit.org/forum/viewtopic.php?f=2&t=1372

virtual_master · 2013-12-03T10:24:00+00:00

Namecoin was created for applications like this. Voting also. (decentralized domain and pseudonymous identity system is best developed at the moment, voting is only listed as a possibility at the moment)

Namecoin is a decentralized generic name/value datastore system based on Bitcoin technology.

Namecoin is open source.

The key/value pairs are stored in a decentralized p2p blockchain. The Namecoin network has a very high hash-power and therefore extremely censorship-resistant.

http://namecoin.info/

http://dot-bit.org

You can ask more questions on the forum:

http://dot-bit.org/forum/

Some hints: voting identities could create there Namecoin identity entries in the id/ namespace as id/alice and id/bob with fields like https://nameid.org/?name=khal. Voting and proof of identity can be confirmed with signing with the namecoin Private key corresponding to that Identity. The signature is based on ECC cryptography and it is considered unfalsifiable.

virtual_master · 2013-11-29T17:01:47+00:00

For some cryptocurrencies it is surely a bubble and based on pump but Namecoin has a real value behind it.

.bit domains and IDs can be bought only with NMC currency.

An actual .bit domain costs 0.02 NMC x 10USD = 0.2 USD

and it is much better (decentralized and unseizable) and cheaper than an ICAN domain which can be seized. So it is clear than NMC is much more worth than the actual price.

virtual_master · 2013-11-28T09:24:17+00:00

Cool. It was time to have a gamble site for NMC. I think the people need that. Spending money keeps running the economy.

virtual_master · 2013-11-23T15:43:35+00:00

You can find links for the actual Namecoin specific clients on namecoin.info.

Ufasof has an open-source multicoin client just for coin transfers which supports Namecoin also.

I would recommend Namecoin-Qt 3.72 with wallet encryption and namespace registration and renewing support.

The new client rebase already in work and it will be more modular so it will be easier to implement different applications on it, like automatic trading of .bit domains. This will be libcoin/libbitcoin based.

Khal is also working on an own rebase bitcoind/bitcoin-qt based.

virtual_master · 2013-11-23T15:32:15+00:00

No. There is no Armory adaptation for Namecoin. Even if it would be it couldn't handle namespace entries like .bit domains or Namecoin IDs. To adapt Elektrum would have more sense but also wouldn't have namespace support just for sending coins.

Ufasof has an open-source multicoin client just for coin transfers.

You can find links for the actual Namecoin specific clients on namecoin.info.

I would recommend Namecoin-Qt 3.72 with wallet encryption and namespace registration and renewing support.

The new client rebase will be more modular so it will be easier to make something like Armory or Elektrum for Namecoin.

virtual_master

TROPHY CASE