J.R.
Established Member
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Twitter from DNW sparked conversation around Bitcoin.xyz auction close at $42,501:
Reference: https://domainnamewire.com/2022/07/02/bitcoin-xyz-auction-ends-at-42501/#comments
My comment on DomainNameWire.com 2 July 2022.
Two days later, XYZ hasn't disputed my claims. Call me alarmist, but I have to imagine legacy tlds have interested parties ready to fight for this same ability to create arbitrary and variable renewal prices on (.com, .net, org, etc.).
These establishment forces work for their shareholders, not domainers.
Reference: https://domainnamewire.com/2022/07/02/bitcoin-xyz-auction-ends-at-42501/#comments
My comment on DomainNameWire.com 2 July 2022.
Had an exchange on Twitter with XYZ, Namecheap about this Bitcoin(.)xyz premium pricing scheme. Based on this discussion, I’m convinced XYZ can raise renewal rate to whatever price they choose.
Not saying it’ll happen, but until someone shows EXACTLY where in ICAAN policy it prohibits XYZ from raising renewals to whatever it likes; I think they can.
Theoretical scenario: Year 2024.
Bitcoin bottoms out at $5K in 2023, another ‘greater fool’ mania sweeps crypto markets in Q2 2024 as Bitcoin reaches $100K .
Business leaders at XYZ, see an opportunity to make more money on XYZ premiums. They say, we can flex this registry super power, maybe GD will buy us out too? Plus, Many crypto startups would love to have Bitcoin XYZ in 2024.
XYZ notifies Bitcoin XYZ registrant renewal price will increase to $10K (2024) then $25K (2025).
Where in ICANN policy does it say XYZ and other nGTLDs can’t do this? Why isn’t the $3250 current renewal price arbitrary?
Legacy TLDs have a FIXED renewal rate which is to the advantage of domainers and consistency. Could you imagine if legacy gtld registry was given this arbitrary pricing power! They could claw-back thousands of premium dot-Com domains by raising renewals to $thousands.
Why not institute a $100K premium on Sex*com? Voice*com? Casino*com?
How many 5K+ portfolio holders could stay solvent in such an environment?
Sure, I’m being theoretical, but I couldn’t help but consider the above scenario. Hopefully I am wrong about this arbitrary pricing power of nGTLDs.
Two days later, XYZ hasn't disputed my claims. Call me alarmist, but I have to imagine legacy tlds have interested parties ready to fight for this same ability to create arbitrary and variable renewal prices on (.com, .net, org, etc.).
These establishment forces work for their shareholders, not domainers.
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