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Godaddy allows you to register domains for very cheap but is this bad because you may register a lot of crap?
I wouldn't say it's too bad no, those who choose to abuse the system I would have thought that GoDaddy would have some kind of way of noticing that and possibly dealing with it. It's ideal for those of us who want to be able to register quite a few domains and don't have a lot of money but bad for those who tend to abuse systems like that.
Godaddy is expensive now a days. I remember back when domain renewals cost around $8. Now GoDaddy charges more like $14.