What am i actually purcasing when I purchase a domain name? I mean where do they all reside...in a huge database somewhere? and if so...why woudln't the registrars have already snatched up all the "good names" thanks for the insite. newbie
They are registered by the given authority under the Top Level Domain (TLD) you've chosen.
For example, .COM/.NET are owned by Network Solutions, whilst .ORG is now owned by the Public Internet Registry. Other TLDs are owned locally, like .co.uk or .de ones.
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We all know that george. We are just getting to the point that verisign handles everything that is not registered and makes a profit of at least $5 per reg. And ICANN extended the contract which means verisign is not going away any time soon. Verisign "sold" ns but they do still hold a 15% steak in the company which means verisign will still have a say in what "happens"
Yes and no. Yes if the domains are expired and haven't been released yet, and no if they're registered & still paid for by the person/s or org who got them.
Just remain vigilant, people. VeriSign & every other org out there will listen if it gets too noisy for them to handle.