333.33 ETH for reuters.eth Someone just paid $30k for a domain name you can't use yet on a network nobody's heard of using a currency for people who were into Bitcoin before it was cool.
Yeah, insomniasexx is on the front lines of this squatter war, and it isn't pretty. The ENS designers thought they had devised a clever way to reduce squatting, but apparently it didn't work. It'd be funny if someone like Microsoft created an alternate ENS service and everyone just used that instead. I hope every squatter gets burned. Ransom is not a cool way to make money.
I don't think anyone thought they solved squatting. No one expected this insane response. Or people to Throw millions at names they had no use for.
Yeah, but they did hope to reduce it. There seems to be a pattern of underestimation here. They might have done something where you need to deposit 1 ETH to participate in an auction. If you are the only participant, you get the name, but if there are multiple participants, the deposits are burned and the auction begins.
It's a domain name registry. Unsurprisingly it uses a bit of a weird mechanism to assign the names, in this case a betting procedure.
Yeah I found a medium article but that doesn't really cover it. So basically this is the framework by which you would in the future be able to use Ethereum like venmo or some shit? So for example, if my name was James Kieth I could register james-ki.eth and people could send me ethereum without some big dumb hash? Is that the basic idea?
The way I understand it, is that ENS tries to mimick DNS but add Ethererum-stuff to it. So instead of your DNS resolving http://www.hubski.com to http://162.243.169.82, the ENS can resolve kleinbl00.eth to your Ethereum wallet address. Or to some other bajingojargon likemachine-readable identifiers, including Ethereum addresses, Swarm and IPFS content hashes, and other identifiers.
Save me from myself: http://www.thefreedictionary.com/words-that-end-in-eth