Re: BitDNS and Generalizing Bitcoin

OK so if there are going to be bitdnscoins (aka DCCs, DomainChain Coins) then they have to be useful for something. Otherwise every BitDNS miner is going to fill every block with his own domain name registrations, rather than replace one with someone else’s registration in exchange for a transaction fee in a useless currency.

The rules have to be that you have to spend a certain amount of bitdnscoins/DCCs in order to register your names and/or do other BitDNS transactions. That’s the only way to make this alternative currency desirable and valuable.

(Well we could do like Bitcoin and say there would only ever be 22 million DCCs ever created, so they’d get valuable from scarcity just like bitcoins. But that seems weak.)

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.

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