If you've ever tried to register your own domain name, you know that it's unlikely you will get your first -- or even second -- choice. We're running out of .COMs, most of them already purchased by functioning companies or held by domain squatters hoping to sell them at a markup. This morning, it was announced that GoDaddy, a huge player in the domain registration game, changed its default option from .COM to the more costly .CO.

This is a huge win for .co since GoDaddy registers about half of all new domain names registered. It seems like a smart move for GoDaddy. Most domains people search for are taken in .com. So GoDaddy users are more likely to see their domain as "available", not to mention .co domains cost about three times as much as .com domains to register.

I have no idea how long this change will last. Yet this isn't the only good news for .co this weekend. Overstock.com, which recently featured o.co in a TV commercial, is getting ready to rebrand its international sites to o.co.

Read the full story at Domain Name Wire.

UPDATE: GoDaddy was just testing the domain extension .CO yesterday and has switched the default back to .COM, according to The Next Web. It's still just as irritating, though, to attempt to register a domain name only to find that it's already been taken.