Second Dot-Com Bubble Brewing!

     The first Dot-Com Bubble or IT-Bubble was created like many other investment bubbles throughout history—speculators took control of the investments in question. The original Dot-Com Bubble grew exponentially from 1998 thru 2000 and finally reached a peak on March 10, 2000 and burst. This shock had repercussions throughout the world, but the emphasis remained where the bubble had been created, the United States of America.

     The list of Bankrupt companies as a direct result of the bubble bursting was enormous; a detailed list can be found on Wikipedia. The end result of course was only the strongest companies surviving. As a direct result many middle of the road investors managed to wipe out their entire savings.

     Although many lost vast fortunes, others managed to cash out partially before the bubble burst and some of the most successful were simply holders of internet real estate, Domain Names. Canada has a host of internet millionaires and Vancouver was and still is a hot bed for Dot-Com activity. Some of these prominent Dot-com millionaires include Caterina Fake and Stewart Butterfield (Flickr creators), Kevin Ham (the $300 million Domain King), and many others.

The Dot-Com Bubble Already Happened So Good Luck Buying Quality Names for Cheap Right?

Wrong!

     Sure, buying a Latin based Character name such as Canada.com or God.com is not an option for anyone unless they are already multimillionaires, but there is a new opportunity available. On Monday, October 26, 2009 Kelly Olsen of the Associated Press announced from Seoul, South Korea in Internet Set for Domain Name Changes that the internet is set to undergo one of the biggest changes in its four-decade history. It is expected this week that international domain names that can be written in non-Latin script will be approved.

     The Internet Corporation for Assigned Names and Numbers (ICANN), non-profit overseer of domain names, is holding a major conference in Seoul and will be voting on whether to allow internet addresses to be in scripts that are not based on Latin letters. The though is that this will help continue to grow the web by making internet use more diverse allowing domains using characters such as Arabic, Korean, Japanese, Greek, Hindi, and Cyrillic (Russian).

     Peter Dengate Thrush, chairman of the ICANN board stated, “This is the biggest change technically to the Internet since it was invented 40 years ago.” If this change is approved on this coming Friday, ICANN will begin accepting application for non-Latin domain names some time in mid 2010.

Why Should I Care About New Domain Name Characters?

     Remember the first Dot-Com Bubble? If you can purchase highly sought after Domain Names like a translated version of God.com or Money.com or Porn.com…you could make a windfall. How exactly the new domains will be sold is another question. If it happens that you can buy them like regular Dot-Coms, it may be a shot gun approach to who can register a name the fastest. Like a Wild Wild West race for a free stake of Oklahoma lands.

     Although this doesn’t mean we are in for a repeat of the Dot-Com bubble, it does lay the ground work for a repeat of history throughout the rest of the world. Maybe a World Dot come bubble to come after this World Wide Recession.

     If you are smart about these new Domains you could get in and out and make a bundle with a little bit of research.