The media attention given to Bitcoin, as opposed to the new extensions of the Internet name space, is severely disproportionate.
Never before in the history of gaming was ‘Monopoly’ money more popular; bitcoin has been used to buy homes, cars and even domain names – all without a backing commodity or under any centralized control. The so-called ‘Bitcoin Foundation’ is a silly reference to a supposed body overseeing the bitcoin cryptocurrency; the name is as pompous as calling the Monopoly bank “Fort Knox.”
Some domain registrars – I won’t point the finger – were even eager to jump on the bitcoin bandwagon, perhaps when it became a fad; the idolized idea was that the bitcoin would become a viable alternative to real money.
On the other hand, there has been very little commercial promotion of the gTLDs, and there is a reason for that.
Domain Registries launching new gTLDs are testing the waters, fine-tuning their processes and performance; every gTLD is pre-decided to fall in place based upon the respective Registry’s strategy. There will be dozens and hundreds of new gTLDs; without a domain investment strategy in place, any glitches receive unwanted attention, generating frustration among investors.
Expectations run high, and people should remember that as with every new product there will be tweaks, both in the wrapper and the pricing.
Those that don’t have any interest in gTLDs nor any motivation to invest in gTLD domains, should most likely abstain from non-constructive commentary. However, those that do have a vested interest should voice their concerns directly – and privately – to the parties involved. There is a reason customer service exists: to handle issues and to resolve them.
In the end, choices are personal. Investing in anything heavily during its hype can lead to equally heavy losses. Diversification is the key, with domains, as with other investments.
It’s all part of a smart strategy to utilize the advantages of technology, as it evolves – from a futuristic ‘dream’ to a thriving economic reality.
TGIF.
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