Topic: [Daily Auction] 300+ Two Letter .bit Domains (Namecoin) - page 3. (Read 11141 times)

So my bid counts? 

"Auctions may optionally be placed in this section."

I considered but decided against it. a) I have zero experience with that subsection. b) I thought it would be uncomfortable and messy.

Round001 - on hold. Will restart as new with the first legitimate bid.

The 50 posts limit is removed for now so any verified forum member can bid.
edit: Money first.

of course I am exploiting a weakness but that is the core of a free market.

it is not theft. I am not taking it, I am buying it from the registration instance, kinda like an ipo. If I wander along the country side (not owned by anybody) and find a gold nugget and sell it - is that theft?

Also it does not destroy Namecoin but quite the opposite. It is like I hold shares of Namecoin. If I am doing a good job as a squatter I will now do what I can do make it flourish.

Have you considered registering a .bit domain for your pool? I will not dare to touch it but soon somebody will get the idea to register all .bit names for bitcoin related websites and pools. I just hope the guy will not be too greedy.

That's what I don't like - overly greedy domain squatters. Also it stinks that namecoin.com/.org do not point to the project.

First, how does domain squatting improve bitcoin or namecoin?  it just destroys namecoin, exactly like domain squatters destroyed the TLDs. 

It's exactly like theft.  You are taking an item and reselling.  The intent of the DNS is to translate names for those intending to use them.  You are not intending to use them, thus you are stealing them.  DNS names are not intended to be resold or held without a legitimate purpose.  It's just an unfortunate side effect of the design of the system that allows you to do so.  You are exploiting that.

yezz, but I by doing so I will save bitcoinzees from badse governments 

But for bitcoins, each and every bitcoin is the same, rather than domain names, where the name matters.
There's a big difference between mining a block early on, and spamming registrations. Imagine what will happen if i registered all the top 10k English words in namecoin (it will only take a mere 1.2 BTC), and resell it. Would that be fair to other users?
So you are here to make a quick buck.

Your comparisons are not valid, unfortunately.  Early adopters of a service, or people buying low/selling high, real estate, gold, basic resources, etc... are an entirely different modality. 

Those things are commodity items or limited resources.  You could potentially make the case that real estate is similar and I would be consent.  However, domain squatting is something entirely different.  The point and intention of the domain name system is to translate from words to numbers, which is where the real estate comparison breaks down, never mind all the other comparisons, which have nothing to do with it.

What you are doing is breaking the DNS system by squatting the domains (but like I said, if not you, it would be someone else).  The DNS system is intended to allow individuals (companies, people, etc...) to properly translate their human readable/memorizable/understandable words into ineternet assigned numbers.  By squatting you are preventing this from happening and/or holding it for ransom.  It's an unfortunate consequence of how DNS was designed, to be open and virtually unmanaged... while it allows/allowed freedom of action by anyone and everyone, with that freedom came the cheaters and stealers looking to make a quick buck.

Comparison to communism is somewhat apt, but it's more of a morality thing.  It's more like stealing and then selling the stolen goods back to the person... although that analogy breaks down as well due to the fact that the person likely did not own it prior to the transaction.  So I guess you could look at it like a combination of theft and communism.  You're taking more than your share of the loaves of bread, so someone, somewhere, is not going to get a loaf without paying you for it.

So that's why I don't plan on closing down the pool, since I don't run a hoppable pool, no one is getting more than their fair share at the expense of others.

by adding a dns suffix it is now possible to only send .bit domain requests to special namecoin dns servers. (at the moment only khal's server, dns suffix support probably in beta)

the point is that the ips the domains are directed to are tracked and maintained in a decentralized network. namecoin is a bitcoin fork (the first?) that can be merge mined with bitcoin (the first fork to support it?).

you can also run the namecoin client for dns requests locally and be totally independent from dns servers. it should be harder to shut down the namecoin dns system than to change/delete the entries in the 13 root dns servers in the world. There is a theoretic chance this might happen to oppress bitcoin for example.

consequently there are approaches to add namecoin support to opendns, i2p, tor.

from your user ID you should have had the chance to buy bitcoins relatively cheap. why don't you hand them out to the people that came later? what is the difference between squatting domains and coins? sure there are differences but there are some overlaps, too.

when I registered them domains were still more expensive

Welcome to planet earth.

While I find your point somewhat extreme and have no time to waste fighting you about it, would very much enjoy discussing it in a civilized manner.

What do you think about the bitcoin early adopters?
What about property and real estate, gold, basic resources?

This is speculation in a free market, it makes the system work. Communism is the alternative beautiful idea but unfortunately it does not seem to work well with humans.

I registered these domains some time last year when the price of coins was plummeting after the (inevitable) switch to merged mining. A while before I started I stated publicly that domains were too cheap.

If an average squatter makes a 100% profit, to what percentage would the profit have to drop so that it would be protecting the domains from squatters?


What about your pool by the way? Why don't you close it and tell your users to use p2pool, which would be much healthier for bitcoin? Well, I enjoy using it, especially the namecoins I mine at your pool   

I don't want to make an exception already for the first round. the point is to make sure these domains go to different people, potential supporters of namecoin.

If nobody else objects I could reserve the domain you are interested in. but if I remove it from the list people will know which one it is.

(more answers coming

If you register them yourself with a namecoind it looks like they are 0.03 NMC (0.015 name_new and 0.015 name_firstupdate). That's about 0.00012 BTC per domain. I don't think I'd use the registrar and pay 1.5 BTC if I was going to buy that many.

The domains if you order them through the site are only 1.5btc. So depending on how much people bid I would assume if he makes at least .5 btc on each x 300. Would be 150btc (697.50$ at current market rate) and that would just be profit.

I want one but I only have 25 posts. If there is an exception I will bid 2.01btc.

this

So these domains will only work if people change DNS settings to forward requests to another site?

so what gives them value?

anyone could do this.

God I fucking hate domain squatters.  The scummy underbelly of the major TLDs and now in Namecoin as well.

You guys are suck fucksticks, I hope you die.  Well, if it's not you, it's some other cockgobbler doing it, so might was well make a buck, huh?

Round001 - Start.