Post
Topic
Board Announcements (Altcoins)
Re: Notification about actual exchanges
by
SinbadGuthrie
on 15/09/2020, 23:52:08 UTC
At the moment there are three trustworthy exchanges for Namecoin with an acceptable price and a real trade volume:
.....

Just to point out some history that is relevant to Namecoin’s ‘acceptability’ among many people.

A lot of people avoid coins that might be targeted by a government, and Namecoin falls in that category Somewhat.

Namecoin was heavily trades on the exchange of somebody the U.S. calls a Russian spy or hacker

https://www.justice.gov/usao-ndca/pr/russian-national-and-bitcoin-exchange-charged-21-count-indictment-operating-alleged

and “ On 28 July 2017, US authorities seized the BTC-e.com domain name and 38% of all customer funds.”

https://en.m.wikipedia.org/wiki/BTC-e

If you look at the blockchain for Namecoin you will see a massive whale held an incredible amount of Namecoin but some time recently dispersed it into many smaller wallets.

It sort of looks like the political drama which will make Namecoin risky has not played out yet.

Going back a few years, it looks like some Russians sort of cornered Namecoin the same way some Americans cornered bitcoin, then U.S. political and legal machinery was used to reduce Namecoin to benefit the U.S. players.

The Mount Gox fiasco involves a group of corrupt U.S. federal agents who were stealing massive amounts of bitcoin.

https://freeross.org/parallel-construction/ Click through linked pages to see the story.

The U.S. refused to arrest any of the corrupt agents until they were literally forced to, and they only arrested those agents who were literally handed to them. Then, of course, they charged a Russian with hacking it.

So for quite some time, the bulk of the crypto economy was a group of corrupt Russian agents and a group of corrupt U.S. agents playing games with huge amounts of crypto.

Things have not changed much since. It doesn’t really look like there will be a level playing field any time soon, and a person should not put too much of their effort into any one crypto project.