Ethereum domain names why so expensive?

[ashapasa]

Why are ethereum.eth domain names so expensive ?   Why is there such a land grad. Does it actually have any value. I was trying to register a few names but could not get a single name I wanted. Granted I bidded only .02 eth per name but mine were fairly simple names. Can't believe people are bidding thousands of eth on a domain name, is it really worth that much. E.g. Ethereum.eth sold for more than 1200 eth   Am I missing something here.

[Ayers]

because the coin have a very good traction now, did you see the value on the market? it's 1/10 of bitcoin, this is very high fro an altcoin, it's was the same with early day of bitcoin, everyone was going to register with the domain and was paying a lot to buy the best one, .org, com and other

[mining1]

For more reasons: if you are a business, it'll do alot of good and a recognisable adress is much better for PR than a standard adress. When you visit a porn site, you dont write the IP adress but namexxx.com. Also, you can create something like subdomains. For example if you buy microsoft.eth, then you ll be able to get windows.microsoft.eth aswell. Which is pretty cool.

Keep in mind that you simply "lock" the eth for one year. Then, if you don't want to use the name service anymore, you get your eth back and give up the name.

Plus, the bid doesn't equal payment. If you bid 100ETH, but no one else bid on that name, then you pay the minimum amount which is 0.01eth i believe. If someone bids 3 eth, then you win the auction by paying 3 eth.