In addition diversification of portfolio is very important and must be seen as a backup in the world of cryptocurrency. I have not only invested on cryptocurrency but i equally invest into stock, any way is favorable to me at a time, which makes me be able to minimize my looses.

If you keep losing your money, then it is now the time for you to improve your trading skills. There is no improvement that you will experience if you keep using your ineffective tactics.

In such a market, it seems to me not the best idea to sell your coins, so do not panic, everything will work out!

i think that you shouldn't give up now, though it is quite sad picture i agree. but it is almost everywhere like that, isn't it? i mean, this market is unstable and we just have to take that this might happen

I went through and found all the posts satoshi made about BitDNS  to get better idea of exactly what his view was on using a bitcoin system for domains. Hope it helps anyone wanting to approach building it in the way the founder of bitcoin thought was best.


http://bitcointalk.org/index.php?topic=1790.msg28696#msg28696
I think it would be possible for BitDNS to be a completely separate network and separate block chain, yet share CPU power with Bitcoin.  The only overlap is to make it so miners can search for proof-of-work for both networks simultaneously.

The networks wouldn't need any coordination.  Miners would subscribe to both networks in parallel.  They would scan SHA such that if they get a hit, they potentially solve both at once.  A solution may be for just one of the networks if one network has a lower difficulty.

I think an external miner could call getwork on both programs and combine the work.  Maybe call Bitcoin, get work from it, hand it to BitDNS getwork to combine into a combined work.

Instead of fragmentation, networks share and augment each other's total CPU power.  This would solve the problem that if there are multiple networks, they are a danger to each other if the available CPU power gangs up on one.  Instead, all networks in the world would share combined CPU power, increasing the total strength.  It would make it easier for small networks to get started by tapping into a ready base of miners.



http://bitcointalk.org/index.php?topic=1790.msg28715#msg28715


The incentive is to get the rewards from the extra side chains also for the same work.

While you are generating bitcoins, why not also get free domain names for the same work?

If you currently generate 50 BTC per week, now you could get 50 BTC and some domain names too.

You have one piece of work.  If you solve it, it will solve a block from both Bitcoin and BitDNS.  In concept, they're tied together by a Merkle Tree.  To hand it in to Bitcoin, you break off the BitDNS branch, and to hand it in to BitDNS, you break off the Bitcoin branch.

In practice, to retrofit it for Bitcoin, the BitDNS side would have to have maybe ~200 extra bytes, but that's not a big deal.  You've been talking about 50 domains per block, which would dwarf that little 200 bytes per block for backward compatibility.  We could potentially schedule a far in future block when Bitcoin would upgrade to a modernised arrangement with the Merkle Tree on top, if we care enough about saving a few bytes.

Note that the chains are below this new Merkle Tree.  That is, each of Bitcoin and BitDNS have their own chain links inside their blocks.  This is inverted from the common timestamp server arrangement, where the chain is on top and then the Merkle Tree, because that creates one common master chain.  This is two timestamp servers not sharing a chain.


Fees in  bitdns confusion:
http://bitcointalk.org/index.php?topic=2181.msg28729#msg28729
Not locktime.

There's a possible design for far in the future:

You intentionally write a double-spend.  You write it with the same inputs and outputs, but this time with a fee.  When your double-spend gets into a block, the first spend becomes invalid.  The payee does not really notice, because at the moment the new transaction becomes valid, the old one becomes invalid, and the new transaction simply takes its place.

It's easier said than implemented.  There would be a fair amount of work to make a client that correctly writes the double-spend, manages the two versions in the wallet until one is chosen, handles all the corner cases.  Every assumption in the existing code is that you're not trying to write double-spends.

There would need to be some changes on the Bitcoin Miner side also, to make the possibility to accept a double-spend into the transaction pool, but only strictly if the inputs and outputs match and the transaction fee is higher.  Currently, double-spends are never accepted into the transaction pool, so every node bears witness to which transaction it saw first by working to put it into a block.


http://bitcointalk.org/index.php?topic=2181.msg28729#msg28729
Piling every proof-of-work quorum system in the world into one dataset doesn't scale.

Bitcoin and BitDNS can be used separately.  Users shouldn't have to download all of both to use one or the other.  BitDNS users may not want to download everything the next several unrelated networks decide to pile in either.

The networks need to have separate fates.  BitDNS users might be completely liberal about adding any large data features since relatively few domain registrars are needed, while Bitcoin users might get increasingly tyrannical about limiting the size of the chain so it's easy for lots of users and small devices.

Fears about securely buying domains with Bitcoins are a red herring.  It's easy to trade Bitcoins for other non-repudiable commodities.

If you're still worried about it, it's cryptographically possible to make a risk free trade.  The two parties would set up transactions on both sides such that when they both sign the transactions, the second signer's signature triggers the release of both.  The second signer can't release one without releasing the other.



http://bitcointalk.org/index.php?topic=2181.msg28729#msg28729


Right, the exchange rate between domains and bitcoins would float.

A longer interval than 10 minutes would be appropriate for BitDNS.

So far in this discussion there's already a lot of housekeeping data required.  It will be much easier if you can freely use all the space you need without worrying about paying fees for expensive space in Bitcoin's chain.  Some transactions:

Changing the IP record.

Name change.  A domain object could entitle you to one domain, and you could change it at will to any name that isn't taken.  This would encourage users to free up names they don't want anymore.  Generated domains start out blank and the miner sells it to someone who changes it to what they want. 

Renewal.  Could be free, or maybe require consuming another domain object to renew.  In that case, domain objects (domaincoins?) could represent the right to own a domain for a year.  The spent fee goes to the miners in the next block fee.



http://bitcointalk.org/index.php?topic=1790.msg28963#msg28963
I agree.  All transactions, IP changes, renewals, etc. should have some fee that goes to the miners.

You might consider a certain amount of work to generate a domain, instead of a fixed total circulation.  The work per domain could be on a schedule that grows with Moore's Law.  That way the number of domains would grow with demand and the number of people using it.


http://bitcointalk.org/index.php?topic=1790.msg29159#msg29159
@dtvan: all 3 excellent points.
1) IP records don't need to be in the chain, just do registrar function not DNS.  And CA problem solved, neat.
2) Pick one TLD, .web +1.
3) Expiration and significant renewal costs, very important.

Quote from: joe on December 11, 2010, 10:53:58 am
However, thinking more about this now I support inclusion of additional coinbases / tracking systems in the main network. The reason for doing this is so as not to water down CPU power into multiple networks. We want one strong network, so the network should be versatile.
Avoiding CPU power fragmentation is no longer a reason.  Independent networks/chains can share CPU power without sharing much else.  See: http://bitcointalk.org/index.php?topic=1790.msg28696#msg28696 and http://bitcointalk.org/index.php?topic=1790.msg28715#msg28715



Off topic but this is the second last post satoshi made on the forum just after discussing BitDNS

It would have been nice to get this attention in any other context.  WikiLeaks has kicked the hornet's nest, and the swarm is headed towards us.

IMPORTANT INFO FOR NEW TRADERS
All the traders who want to learn and earn from crypto trading i think they should follow some trading methods to make it true. All the beginners please try to learn first . without having enough knowledge about crypto trade you cannot make profits easily.As a trader i suggest to start your trading with reliable coins which already make a reputation on market and has a great value worldwide. Don't jump for new coins before getting enough knowledge about that.

Maybe because altcoin investor sometimes, even not all, only want to hit and run. It is humane, of course investor wouldn't think about any else if not profit and join other project, and take profit again.

Bitcoin had a lot of negative news every day when going to 20K. But the price was still rising. Well, good news comes up every day nowadays, but the price is falling.