Ok i bought a namespace when it came up. No new information since then. So whats the point with it? What will be the benefit of having a namespace? Will there be a Return of investment (trade it? get fees? etc?).
Will it be forever my namespace or do i have to pay another fee after a year?
thx
You should have informed yourself before buying a namesapce. What’s the points in buying a namespace without having any information what it is about?
Here is a summary about nem namespaces:
gosh…that was not supposed to insult you…im not really taking the investment serious…im just interested in further development…and YES i didnt read everything nor i wont do it! so whats the story with namespaces…please.
I don’t think BloodyRookie was feeling insulted. He just asked you a question. Here’s a quote from above link, so you do not have to read the whole thing^^.
The basic things you need to know about NEM’s recent fork are Namespaces
and Mosaics features. The easiest way to appreciate it is the domain
and file analogy on the internet. Imagine that a domain address has to
be unique in a root (lowest level). Namespace addresses this unique
feature. If one creates a namespace, that namespace will appear unique
in the NEM ecosystem. For example, if one were to create a namespace
called “foo” that namespace cannot be created by a second person. Just
like on the internet, a domain can have a sub-domain, namespaces can
have sub-namespaces.
Or, in a more general sense: https://en.wikipedia.org/wiki/Namespace
What about the fees? Does it need to renew every year? I see that there was an update to lower the namespace price but, it won’t ever follow a fair increase of the XEM value in the market.
Nowadays (about a year after the original post) a namespace cost $250, is that only valid for a year?
Who knows how much it will cost in the upcoming year. You can start a namespace, do profit in the year you bought and in the next year to renew it will be so overpriced that might be impossible to renew it, another wealthy person can buy it and take over your business.
It doesn’t make much sense to be an asset that can expire. Will that change?
XEM is a deflacionary currency, what makes the price you’ve paid for a namespace actually be automatically more expensive over time. It’s not like invest $30 every year in a domain. The initial vest will provide interests forever for the system maintainers, with a value that can easily surpass the $30 yearly of the current domain networks average.
Example:
2 years of a namespace in the existing internet assuming that the dollar has an inflation of 2% a year: 30 - 0.06 + 30 = $59.94
2 years of NEM namespace in with 300% deflation per year: $30 + 90 + 90 = $210
Looks like a very, very expensive namespace system, and I’m being very conservative about the deflation of the currency XEM.
I agree, to maintaining a nemspace is super expensive. You need a nemspace to create a mosaic? At least that’s the only use I give to the nemspaces.