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10 sats \ 4 replies \ @CruncherDefi 14 Feb
I was interested in the project last time and I am getting confused why would we need the market.
For what duration you own the name after initial burning-bitcoin auction?
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0 sats \ 3 replies \ @ca98am79 OP 14 Feb
it is a trustless no-fee market for Spaces - owners can simply post the PSBT to sell their Space at a specific price, and anyone can buy it.
You have to renew a name once per year, which is just a bitcoin tx
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0 sats \ 2 replies \ @CruncherDefi 14 Feb
What is the cost of renewal? Is there another auction that gives others opportunity to take over the name?
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0 sats \ 1 reply \ @ca98am79 OP 15 Feb
the cost of renewal is just a tx fee on bitcoin. There is only another auction if the name expires and is opened for auction again
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0 sats \ 0 replies \ @CruncherDefi 16 Feb
I see. I don't like it. It makes distribution in my opinion quite unfair.
This kind of distribution scheme works with bitcoin - all tokens are fungible - if you join mining late, those late mined bitcoins are fungible with early mined bitcoins. I argue that it makes it fair in bitcoin case.
But not so in names case. Names are not fungible. Short/better names are more desirable and are going to be taken first. So late joiners are at the mercy of early joiners - you cannot own a good taken name without a permission of early user who took it.
(Also it kinda explains why you don't have a token to finance yourself - early users will have short names that are worth more).
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0 sats \ 1 reply \ @Jon_Hodl 14 Feb
Is this a shitcoin?
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0 sats \ 0 replies \ @ca98am79 OP 14 Feb
no; https://spacesprotocol.org/
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0 sats \ 3 replies \ @BlokchainB 13 Feb
What is being sold here?
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57 sats \ 2 replies \ @ca98am79 OP 13 Feb
top-level Spaces on the Spaces Protocol: https://spacesprotocol.org/
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0 sats \ 1 reply \ @BlokchainB 14 Feb
Interesting what’s your spaces ID?
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0 sats \ 0 replies \ @ca98am79 OP 14 Feb
@carson
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