Post
Topic
Board Announcements (Altcoins)
Re: [announce] Namecoin - a distributed naming system based on Bitcoin
by
SinbadGuthrie
on 16/09/2020, 21:14:22 UTC
I think we had it in this discussion already, that Namecoin is primarily an asset, what you get is a blockchain domain name. Also there has never been an ICO, simply because there were no costs to cover while adding the additional name operations to the existing Bitcoin code. Of course no one knows how many public funds the Namecoin devs got ever as it has never been published. This is the only "dark history" of Namecoin, that some people are hiding behind a pseudo organization with pseudo .org TLD and ridiculous fantasy positions, giving the impression of acting as volunteers for the community - but cashing how many undeclared thousands of public funds. But this will finally have an end! When the .bit resolution is finally running and established we can think about further listings. Might be I'll create my own trading platform meanwhile, or I'm assisting in getting WEX finally alive again, then Namecoin should be listed again as well.

I don’t feel like arguing in circles, but one last point.

There are a few ways something can have value.

Something can have objective value that is indisputable. An apple or orange has indisputable value because you can eat it. Every day thousands of people in poor countries die for lack of food, and any of them acting individually, with no group, would say an apple or orange has real value.

Cryptocurrencies do not have real value unless they produce scientific data.

A coin like bitcoin or Namecoin does not have any inherent value, aside from the value that a group of people agree amongst themselves to give it,

When a person supports any medium of exchange which does not have inherent value, they are doing so on behalf of a group.

Nobody supports bitcoin or Namecoin purely as an individual. The calculus is “If enough people pretend that x coin has inherent value then it will have use as a currency”. Same calculus as fiat.

Pretending that Namecoin at this point offers something unique is not a path to success. There are more and more coins that offer domains, name resolution etc.

Namecoin stands out only for its being the first useful coin and for its celebrity factor. Pretending something else will not work.

Eventually coins will be valued according to what they produce, and it would be wise to keep an eye in that direction, but for now the crypto economy is all a big con game. If you want to promote a Namecoin by itself then you must do what works, which is scamminess. It has no value that would let it be promoted legitimately.