Thanx to Michael Berkens to highlight BitCoins’ explosive popularity, and to theDomains for the references on sales and Boston registratrions, in two years of Coin domain reported Sales:
coinflip.it 8,000 EUR
buycoins.co.uk 750 GBP
coininvest.com 5,500 EUR
coininvest.de 1,100 EUR
coinbase.com 1795 USD
bitcoinpay.com 1,600 USD
coinflip.us 1,200 USD
e-coins.com 3,700 USD
Godaddy auction: coins.INFO Auction is open 505 505 21
bitcoincentral.com 1,000 USD
bitcoin.be 1,500 EUR
bitcoins.im 1,000 GBP
bitcoin.im 1,000 GBP
bitcoin.biz 2,800 USD
bitcoin.li 1,750 GBP
coinwallet.com 3,500 EUR
coinx.com 4,900 EUR
easycoin.com 2,100 EUR
bitcoiney.com 1,100 USD
litecoin.de 3,800 EUR
cloudcoins.com 1,000 USD
coint.com 3,000 USD
coinvoice.com 2,900 EUR
buygoldcoinsonline.com 700 USD
moneta.com 150,000 USD
freebitcoin.com 1,000 USD
bitcoin2014.com 1,200 USD
exchangebit.com 800 USD
Moneta, which means, currency, or coin, in Italian, was the highest, “coin,” domain, selling for $150,000.
Then, Bitcoin.us sold in the five figures, at $17,500, and CoinMint.com at $11,000, and CoinFlip.it, at 8,000 EUR, which translates to $10,854.40.
Timothy B. Lee of The Washington Post filled in more about the limited nature of BitCoin:
One of the unique things about Bitcoin is that every transaction on its network is publicly available for anyone to examine. Any time a user sends a payment to another user, that transaction is reflected in the “blockchain,” a global, permanent ledger of Bitcoin transactions.
You can examine every Bitcoin transaction that has ever occurred at a site called blockchain.info
Each Bitcoin address is associated with a secret encryption key that allows the owner of that address to transmit the bitcoins to another address.
Interesting! This is from the November 23rd article, Here’s who (probably) did that massive $150,000,000 Bitcoin transaction.
Purely from a news perspective, it is fun to backtrack the sale of Coin domains, now that BitCoin got the okay from Ben Bernanke and is rallying in worth. I didn’t even know what BitCoin is, before Mike Berkens of theDomains published his article today, If A New gTLD Applicant Used His $185K To Buy Bitcoins Instead His Investment Would be Worth $30 Million, defining bitcoin as mathematically limited currency in cyberspace:
Bitcoin is just a mathematical equation its limited by its own math.
Moreover Bitcoin is set up by design to work like a real mine, the more the mine has been mined, the harder it gets to mine new material.
Here is some more information from bitcoin.it
“”New bitcoins are generated by the network through the process of “mining”.
“In a process that is similar to a continuous raffle draw, mining nodes on the network are awarded bitcoins each time they find the solution to a certain mathematical problem (and thereby create a new block). Creating a block is a proof of work with a difficulty that varies with the overall strength of the network. ”
“The reward for solving a block is automatically adjusted so that roughly every four years of operation of the Bitcoin network, half the amount of bitcoins created in the prior 4 years are created.
10,500,000 bitcoins were created in the first 4 (approx.) years from January 2009 to November 2012.”
“Every four years thereafter this amount halves, so it will be 5,250,000 over years 4-8, 2,625,000 over years 8-12, and so on.
Thus the total number of bitcoins in existence will never exceed 21,000,000″”
Neat stuff! Then, I went over to FT.com, which is hard to access, because it is subscription only, but did come across the above video about bitcoin, before this past week’s runnup of the value of Bitcoin on the news of Ben Bernanke.
Mr Bernanke, in a letter to the Homeland Security committee, pointed out the Fed’s longstanding view that while virtual currencies pose money laundering and other risks, “there are also areas where they may hold long-term promise,” according to an article in FT.com, Bitcoin hits $785 with a little help from Bernanke.
Tom Carper, chairman of Senate committee on homeland security and governmental affairs said, “we need to develop thoughtful, nimble and sensible federal policies that protect the public without stifling innovation and economic growth.”
With the reported Coin domain name sales, since November 2011, Bitcoin appears to be ON!!!