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I don't think that's the case at all, I registered mine for 10 years and I am heavily penalized for age of domain. I agree with the legendary John Scott. I think it is based off of many factors, mainly date of initial Google index and in bound link age are the two biggees that come to mind.
That is a good point though, I have heard that before and I could be wrong, any thoughts on length of registration?
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