Verdens Gang whose website is VG.no a Norwegian tabloid newspaper and was the second largest newspaper in Norway just published a story about By.com which is in the RightoftheDot.com auction at Namescon. By.com, as of publication of this postm has a high bid in pre-bidding on Namejet.com of $602,000
The original story that was written in Norwegian is here.
The Google translated version of the story into English is here.
Its a very interesting story about the owner of the domain IT entrepreneur André Eidskrem who bought the domain in 1996 for around $5,000
Mr. Eidskrem is quoted as saying:
“At the time there was an awful lot of money to spend $5,000 on a domain, when it usually cost ten US dollars to register one.”
Nice to see a mainstream publication picking up the story on a rare two letter .com that also happens to be a word and a ccTLD.
Sounds like good exposure for the auction and a good story for the industry.
another collapse in the chinese stock market tonight
down 7% in 30 minutes, hit circuit breakers, and halted. again.
selling panic keeps continuing.
market fears, currency worries getting worse.
US market futures way down overnight.
again.
domains are looking better than gold.
this auction will be remarkable timing.
Unthinkable that a domain could ever lose 7% of its value, I guess?
>”domains are looking better than gold”
Oh I wouldn’t say that if I were you. No need to be bashing gold when both can exist together just fine.
“Gold Demand in China Heading For Record and Reserves Increase 14 Tonnes In October” (physicalgold.com)
This one is particular interesting reading:
“SGE Withdrawals Break Yearly Record. World Gold Council Continues To Hide Insatiable Chinese Gold Demand.” (bullionstar.com)
“Gold Demand in China May Gain to Record, Bullion Bourse Says” (Bloomberg)
Yesterday:
“Gold Is Turmoil’s Beneficiary as Soros Warns of Market Crisis” (Bloomberg)
…And while you’re buying your portfolio of physical, remember the domain itself, .gold. 🙂 It’s pure domain gold. 🙂
P.S. And for some really great reading, check out the avalanche of reader comments here:
“Understanding Why Chinese Investors Prefer Short Domains Over Gold” (domainingtips.com)
(Not! As in, or so he thought!) 🙂
had no intention of getting into a commodity debate, but your stats have no chance of a positive comparison.
Gold hit 5 1/2 year lows in December. Which means gold had been going straight down for 5 years and 6 months. Oil is a commodity too. Its hitting 12 year lows today. That means is lower than its been for over a decade.
If you check the most objective metric the IDNX index on domains, domains have doubled in that same period of time, based on sales of over 200,000 domain sales. And that is really based on the small sized average sales. And the chart doesn’t even factor what’s happened in the last few months.
Gold like any commodity is tied to the value of the dollar. Its been a terrible investment for 6 years now. As a commodity do you know who the biggest users in the globe are? Its certainly not china. Its women in India. They hold far more gold than any nation on the planet.
You’ve simply decided to ignore everything I posted. And gold is certainly much more than just a “commodity.”
When a veritable army of people who presumably are part of the “domain investing” community themselves show up at a site like “domainingtips.com,” which I scarcely ever even see appearing in domain related news feeds, to post CONTRARY to a title like “Understanding Why Chinese Investors Prefer Short Domains Over Gold,” that is obviously nothing less than a bombshell moment in the bull-spit bashing of gold vs. domains that is practiced by some, and which is completely unnecessary. But I guess you wouldn’t know that. And I must say, I was struck by how intelligent and informed the commenters for that November post at domainingtips.com were. (My few were even weak by comparison.)
Everyone knows about how gold is down from its 2011 high, so you needn’t harp on that as the starting point. It is also not “tied” to the value of the dollar, although that is certainly the conventional wisdom of some. A real look at the history shows that it is not driven by “fundamentals” or tied to what many people think its tied to. The Elliott Wave theorists appear to be right that it is driven by sentiment and there is also the issue of manipulation and price suppression.
Your comment about India is also a red herring. It’s simply plain common knowledge that China has overtaken India as the largest consumer of gold in the world.
Most domains are garbage, as we all know. Many are just marginally better than garbage. Few as a % of all amount to domain “gold.” Gold, however, is simply gold. Obviously the best domains of the world are special, and gold is what it is. Gold has been what it is for thousands of years, but as for domains, who knows. Instead of the occasional subtle or not so subtle swipes and slights at gold when people are not doing the opposite and equating domains with gold or referring to them metaphorically as “gold,” why not just live and let live?
“Indian households have gold equivalent to the gold reserves held by the top 10 gold stocking central banks of countries such as US, Germany, Italy, France, China and India.”
Well since you put it that way, you are comparing apples and oranges, although what you have posted is only good for the big picture on this anyway. Determining which country is the #1 consumer is about which one has the higher demand in tons for the year, or quarter as applicable, not about which one has “households” with preexisting reserves sitting around that may or may not be verifiable or estimable to any reasonable degree. Moreover, you are simply quoting a comment post from quora.com by someone using the screen name “Sumeet Kr Sinha, Incredible Indian.” It’s a moot point anyway, since China and India are more or less neck and neck for annual consumption, and both of them leave the next nearest annual consumer, Uncle Sam, a million miles behind. The bar graph certainly paints a big picture to put it mildly. Sometimes China is #1 and sometimes India #1. No other country is ever even within a light year’s travel on the Millennium Falcon of both of them, so it’s a bit like arguing over which one is bigger, the Jolly Green Giant or Godzilla. It appears that India did overtake China for world’s biggest consumer for 2014 by a mere 842.7 to 813.6 tons, as in China certainly held the #1 spot at some point before that, and now for 2015 Q4 figures are not in yet, though it appears full results will be similar. So no matter how you slice it, at any given time both China and India are alternately the #1 consumers of gold in the world, while China is also unequivocally the world’s #1 producer. I’ll certainly take that any day, and that’s nothing but good for gold. Also good for .Gold, which is nothing but pure domain gold.
Oh nice – this just in today:
• “Changing The World Order: China Enters The London Gold Market” – Jan. 9, 2016 – Forbes
And,
• “China’s largest bank buys huge 1,500-tonne gold vault in London” – Jan. 8, 2016 – The Telegraph