Half of Proceeds from Bitcoins.com Auction to Help People Impacted by Mt. Gox Bankruptcy

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Bitcoins.com is hoping to get at least $750,000 in an auction for the domain later this month.

Bitcoins.com is owned by Mark Karpeles, the 29-year-old CEO of the now defunct bitcoin exchange Mt. Gox that filed for bankruptcy earlier this year.

The opening for bids on Bitcoins.com is starting at $185,000 on Heritage Auctions. Internet bidding ends on July 23 at 10 pm CT with the auction taking place the following day on July 24 at 1 pm CT.

According to the Heritage Auctions website, “Bitcoins.com could be the home of a major company in this disruptive space. This is an opportunity to jump into the bitcoin revolution with an asset that will enable your company to gain immediate notoriety, credibility and authority.”

“As more investors and speculators pour money into the bitcoin technology, Bitcoins.com will only appreciate in traffic, demand and prestige,” the website says. “Once you acquire Bitcoins.com, it will be yours to use forever. Once it is sold, it is unlikely that you will have another opportunity to acquire Bitcoins.com.”

According to a report by GigaOM on Tuesday, Karpeles is using some of the proceeds from the auction to “provide some relief to the people impacted by the Mt. Gox bankruptcy.” He says he will be putting “at least half of the sale amount toward that purpose.”

The singular domain, Bitcoin.com, is currently being used by Blockchain.info, a popular bitcoin wallet. GigaOM says Blockchain.info has a five-year deal for the domain with its anonymous owner.

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  1. I think it's doubtful it'll go for that sort of money - the primary 'target' for the domain would be one of the payment gateways or wallet services, and only 2 have that kind of money behind them (and already establish branding). Similarly I'm surprised the Japanese courts are allowing only 'half' the proceeds to go towards the massive debt MtGox has to it's users - has Karpeles returned the 400,000 bitcoins stolen from the users that were 'found' in his wallet yet ?