Re:Transitioning the web to Namecoin by addressing name-squa...
by dangero on Saturday December 21, 2013 @10:50PM
(#6949256)
Good point. The entire value of NMC blockchain is to remove reliance on the current DNS system which this would kind of nullify.
Another related topic is that a judges ruling is meaningless in regards to NMC, so for example, if someone were to steal google.com by stealing the private key, google.com would have no recourse besides paying a ransom. They cannot get a judge to force the address to be given back. Their domain name would be hijacked forever. In the case of bitcoin, it's great that you can't revert a transaction. In the case of domains on NMC blockchain, I'm not so sure.
Another related topic is that a judges ruling is meaningless in regards to NMC, so for example, if someone were to steal google.com by stealing the private key, google.com would have no recourse besides paying a ransom. They cannot get a judge to force the address to be given back. Their domain name would be hijacked forever. In the case of bitcoin, it's great that you can't revert a transaction. In the case of domains on NMC blockchain, I'm not so sure.