Closing Down

I don't know if Namecoin will still exist in a few years. I hope it will. Namecoin was one of the first successful projects to introduce decentralized domains using a blockchain. The main problem with .bit has always been the hoops a user would have to jump through to have a .bit domain point to a website. Ethereum Name Service seems to be doing that far better with .xyz domains.

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In less than a week the on-line .bit domain service will be closing forever. After eight years the site is asking its users to transfer out their balances of NMC and BTC along with any .bit domains that might still be in their account.

Not a lot of .bit domains are currently still for sale in exchange for namecoin during the last week of the site's existence. Except for evanandrea.bit being offered for 50 NMC the asking prices for NMC are reasonable. When it comes to .bit domains being offered in exchange for bitcoin it's rather insane. Someone is still trying to sell coinbtc.bit for one million bitcoins. Keep in mind at the time of this posting one bitcoin is worth around $35,220 USD.

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Just this morning I was able to withdraw my 0.0009 BTC balance. I've used this site for years and most of the domains I sold were in exchange for NMC. The service was good and I have no complaints. Well, maybe about my username Fumulo. randomly generated usernames for privacy. It might have been better if that had been optional.

Unlike the Cryptsy exchange is giving users a fair chance to withdraw their cryptocurrency before the site disappears. If you ever had a account this is your final chance to withdraw any balance of cryptocurrency you might still have.

Posted Using LeoFinance Beta