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Is Domain Speculation Bust?
The latest Netcraft survey is more interesting than usual, because it reports a drop in the total number of registered domain names, as well as a decreasing number of sites reachable overall by the survey. It's been a traumatic year in the tech world, but the drop in domain names goes back to domain name buy-ups of 1999 (and looks like it will accelerate the same way domain speculation did in 2000). All is not gloom, though, and the number of registered domain names is not the same as the number of active sites. The Netcraft site points out that "as domains bought for speculative reasons are abandoned, we can expect a higher proportion of sites to be active." Read the rest of the survey report for more interesting information on the state of the domain world.
But once a few people got rich that way, naturally there was a "gold rush". It's no different than the Florida Land Bubble, the tulip bubble, or a zillion other speculative bubbles.
For that matter, how different is the stock market, with its rumor-chasing mentality? Or modern currency, which is valuable only because you can use it to buy Goods and Services -- which are produced only because they're worth money!
Which is not an argument for going back to the Gold Standard or shutting down Wall Street. It's just a reminder that speculation and fiat are both essential parts of a modern economy.
Thus, no one can sell obvious things like "business.com" for $400,000,000,000,000 or whatever.
business.com sold for -- I kid you not -- $7.5M US in November of 1999. What were they thinking?
-Waldo Jaquith
It took them this many years to realize that they were just wasting their money. I'm currently waiting out on a domain because the guy is claiming that he has received bids for $900 for the domain so I have to beat that. I told him, "Sure - send me proof of one claim that I can verify and I will gladly bid higher to secure the domain name." It successfully terminated the conversation.
I think it's really funny that all these nimrods are finally starting to realize that hoarding domain names only works if you get things like 'doctor.com'. I just have to laugh at all those folks who helped keep the registrars business flowing.
Dacels Jewelers can't be trusted.
... ensures the registered business can have their online presence without having to negotiate around people already there and wanting $$$ for what you already essentially own...
.au requirements for domain name registration.
.com.au domain, some companies even offer a business name/domain name combination for offshore visitors eg: http://www.instra.com.au/auzpack.htm
It works the other way around too. Take for example http://www.google.com.au/ which has been registered by a web hosting group that apparrently has nothing to do with the Google Inc. (the search engine we all know and use). Note that except for the URL, the word google is not mentioned anywhere on the abovementioned site, not even on their contact page, where the company is named as Dedicated Hosting Pty Ltd. Also note that Google Inc. owns an Australian Trademark for the word "google" in several computer related classes. Activities like this seem to be contrary to the spirit of the
Anyone can effectively obtain an Australian business name to facilitate the registering of a
Is this an example of an Australian business that has been registered with the sole purpose of domain squatting/speculation?
But that's not the interesting part. The interesting part was back in September 2000, when I noticed someone had taken the .net of my domain. Sure enough, some idiots with more money than sense had registered every possible 3-character .com and .net name that hadn't yet been taken. Not surprisingly, they didn't renew the .net of my domain in 2001.
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"Open source is evil." - Microsoft