11 July 2014

Bitcoin Domain Names Soar in Value Compared to the Virtual Currency

"Entrepreneur Niko Younts said he sold the BitcoinWallet.com name in January for $250,000 -- 23 times what he paid a month earlier. Investors buying bitcoin-related Web addresses in hopes of a fast resale are fueling a domain-name boom. Some 3,290 names ending with .com or .net and containing “bitcoin” have been registered since May 12, according to Verisign, which operates a registry for those top-level domains." (source infra)

Bitcoins, Domain Names, and Virtual Asset Values -- interesting story at Bloomberg news about the soaring prices for Bitcoin related domain names even as the value of the virtual currency has dropped --

Bitcoin Domain-Name Prices Defy Drop in Virtual Currency’s Value - Bloomberg: ".... “What you are seeing is all the media hype around bitcoin, and everyone is trying to grab the domain names,” Allen said... Some domain-name owners are willing to wait for the industry to mature. Charlie Shrem, who co-founded startup BitInstant LLC ... said in an interview, he’s declined all offers for names such as ... watchbitcoin.com that he owns. “I’ve gotten offers in the tens of thousands,” he said. “But if someone’s offering this much, what will someone else offer?”" (read more at link above)

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