reply on: [announce] Namecoin - a distributed naming system based on Bitcoin (2011) \ stacker news ~bitcoin

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221 sats \ 4 replies \ @Scoresby 16h \ on: [announce] Namecoin - a distributed naming system based on Bitcoin (2011) bitcoin

BitDNS was talked about in 2010.

Not sure if it counts as a shitcoin though.

Basically, the system is a copy of bitcoin where miners generate 50 new name mappings of their choosing whenever they win a block. The name mappings change hands in a way similar

I thought BitDNS turned into Namecoin, but then I found this post from Jan 2011 talking about how "Domainchain" was dead because:

From what I can tell, the proposal located on domainchain: (see http://domainchain.org/wiki/doku.php?id=start#proposal ) goes against Satoshi's wishes to keep the bitcoin blockchain unencumbered and ties domain assignments directly to bitcoin. Many community members have stated that this is impractical and will leave bitcoin if attempts continue to include domainchain into bitcoin directly. Satoshi asked that a new tree be created with a separate currency that floats its value according to demand with the bitcoin service.

I don't think Name coin was the first shitcoin.

160 sats \ 1 reply \ @DarthCoin 9h

Yes, I also think that wasn't a shitcoin. Yes it was using same characteristics and even merged mined with BTC but it has a different purpose.

I was mining it and use it for 3 .bit domains. That's it, you couldn't use it for something else.

Like people say that CCs are shitcoin. Are not, are not even coins, are just credirs to be used for a specific purpose only insidd SN. Same was NMC.

17 sats \ 0 replies \ @Tony 9h

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38 sats \ 1 reply \ @DarthCoin 8h

I don't think Name coin was the first shitcoin.

We can name the 1st proper shitcoin to be ETH. Is the mother of all shitcoins. It is the first one that wanted to dethrone BTC and together with it, came all the plethora of shitcoins.

0 sats \ 0 replies \ @398ja 5h

ETH was born out of the unjustified frustration of wanting to make bitcoin what it was not supposed to be. The first mindset was still very strong...