Libra domain names seem to be a hot topic on NamePros since Facebook announced its Libra cryptocurrency. In fact, there are nearly three dozen threads and hundreds of posts about Libra domain names. Some people have been discussing why buying and/or registering Libra domain names is a good idea, some people have been discussing why it is a bad idea, and others have been promoting or looking to sell already registered Libra domain names.
Not only are Libra-related domain names a topic of interest in NamePros, but there have been a whole lot of Libra domain names registered recently. In fact, “Libra” was the top trending keyword .com and .net domain registrations last month, according to Verisign’s blog.
There has been a lot of speculation made about buying and selling domain names with “Libra” in them, as well as speculation about trademark filings and what they mean with respect to Libra-related domain names. In my opinion, it is not such a great idea to take advice about legal topics from people who are not lawyers. I also think this is a fairly complicated topic.
This morning, domain industry (and IP) attorney John Berryhill weighed in with a comprehensive comment in one of the Libra domain name threads. I think it would be doing a disservice to simply grab an excerpt from John’s comment because it should be read in its entirety. For anyone considering the purchase or sale of Libra domain names, John’s comment is a must read. It would also be a good idea to reach out to an intellectual property attorney directly before spending any real money on trademark related domain names.
Finally, people who ask questions or look for answers on forums should be mindful of who is offering their advice. This is especially true when it comes to specialized legal advice.
any chance to get a knowledgeable take from Dr John ill take, thanks for the link.
from my first day in domaining i tried to think “fair use” could one day allow domainers to own names like others who write books, sell in stores, or publish or advertise.. maybe in 2050?
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It is something of a puzzler, and I mentioned nominative fair use in the post. On the one hand, it is within the bounds of nominative fair use for a vendor of a product to identify the product sold, serviced, etc.. The go-to US case on that question involved a guy in the business of repairing Volkswagens, and using appropriate signage to identify the type of cars that he repaired. It does nobody any good for him to be limited to using a sign that says, “I specialize in repairing a brand of car I can’t identify.”
So if that guy could, say, lawfully use the domain name IRepairVolkswagens.tld, then you’d think it would be likewise lawful, since there can only be one instance of that domain name, for someone to, say, auction that domain name among multiple persons who repair Volkswagens – thus allocating that domain name to its highest-valued lawful use.
Buying domains with the word “Libra” in it is not smart.
And people wonder why we cannot shake the image of being “Squatters”.
“The fact that the Libra blockchain is open-source means that anyone can build a service or app that uses the currency. The wallets that are developed to use the service will be interoperable, so you’ll be able to send money from Facebook’s Calibra wallet to any other system that accepts Libra.
Consumers will not interact with the Libra Association, but will only interact with Libra through a digital wallet or an operator. For people who don’t have the ability to digitally purchase Libra with a credit card or digitally linked account, Marcus says he expects companies in emerging markets to create locations where people can exchange Libra for cash.
Marcus says if people don’t want to trust Facebook’s Calibra (Wallet), there will be other apps to access the (Libra) currency.
The Libra Blockchain will be open to everyone: any consumer, developer, or business can use the Libra network, build products on top of it, and add value through their services.”
Takeaways:
1. It is not really a decentralized blockchain
2. It is not really a decentralized cryptocurrency, it is a proposed stablecoin, a ‘digital’ token
3. It is already causing mass hysteria in DC and at the Federal Reserve, but no matter how loud they shout and threaten, the US Dollar is unlikely to be the de facto reserve in the next decades, regardless of what or how they rule on this. They (FB & crew) will get a pass here through delays, fines and buddy buddy backdoor deals,…and find a way to launch. They’re simply too big to “fail” even before launch. They knew they had to set up shop in a neutral region or it would simply not be accepted as a “USA” based and launched …thing, specifically given their loud announcement regarding the fact it will be backed by multiple assets, not just the USD. This requires unprecedented levels of trust, something true decentralized blockchain and true decentralized cryptocurrencies do not. This will also not be censorship resistant and is opening up a massive treasure chest of data and privacy concerns. And I am positive India, Turkey, Iran, Iraq, Syria, Venezuela, Argentina, Zimbabwe, China, Russia, are NOT going to be circle jerked into this party easily. They will (potentially over time) lose total control of their nefarious and manipulative schemes of debasing their fiat currency, stealing purchasing power, and controlling their economies. A human being with a brain in these countries poisoned by inflation and hyperinflation should be storing their wealth in another option so their life savings are preserved. That’s precisely why capital flight, inflated foreign real estate, gold, Bitcoin, and offshore banking is so big – double digit trillions of dollar at play here – just up for grabs as flight to quality and innovation continues. Direct Website Quote: “Libra is a global cryptocurrency built on the foundation of a blockchain (the Libra Blockchain). Libra is fully backed by the Libra Reserve, a collection of currencies and other assets used as collateral for every Libra that is created, building trust in its intrinsic value.”
4. It is already annoying politicians worldwide, most developed nations & governments do not want to be tied through monetary policy and economic wars of politics to the US or “Federal Reserve Notes”, but they definitely do not trust FB to create, balance and policy a small closed group with their own ‘currency baskets’ of choice.
5. It is already open to developers – thousands of people are already working on their new MOVE programming language – publicly using “Libra” tags.
6. It is crystal clear they are and will continue to promote the active development of mandatory top layers by third-party devs and anchor store fronts as hyper-local Wallets/Exchanges/SmartContracts as on and off ramps for Libra.
7. In my opinion their will be massive use cases and interest in “Libra” as a word/brand for advertising/marketing by both individuals and entities NOT associated with the Geneva-based Libra Association consortium…to create the mission-critical network effect. Ultimately I believe people could very well be proven wrong about the global participation and overall value of a select few meaningful generic (non-scammy) Libra domains,…but only time will tell.
You some kind of truth seeking truth teller or something? Don’t meet many of those in domaining.
So check this out:
The anti-Christ is definitely coming, and he has to be able to do this:
“And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.” Revelation 13-16-17 (KJV)
Since long before any mention of this Libra, I have occasionally speculated that if you *had to* pick a candidate who exists now who could most realistically be or become the anti-Christ, Mark Zuckerberg is not a bad pick and possibly the best one alive today.
With the advent of Libra, however, it’s looking like an even better and better possibility.
Just something to think about. We don’t really know how much time is left, but there is a case for possibly not much longer and something within under 40 years or less.
nutty
On the other hand, you can reserve your rapture and Armageddon domains now, and be well ahead of the game.
Why is it capital “JB” above and lower case “jb” down here?
Read these two short passages:
https://www.biblegateway.com/passage/?search=2+Peter+3%3A3-7&version=NASB
https://www.biblegateway.com/passage/?search=1+Corinthians+1%3A21-31&version=NASB
Tell me about it, Snoopy. I might as well even have suggested a reality TV game show host, beauty pageant operator and flamboyant real estate tycoon could become the POTUS even, or that money was rapidly becoming completely digital and subject to technological control. 😉
For more…follow @libradomains on twitter.