I've been mulling over the idea of starting up my own domain registrar but with such low margins on domain sales it's important to come up with creative ways to monetize those customers to make the business a real money maker. Here are some of my initial ideas:
1) I could Just take domains out of customers accounts, then send myself a crypto payment marked as payment to the poor sucker whose domain I stole so it looks like proper transaction in company books. I will of course need to focus on customers with large domain portfolios that don't keep up with audits but since I control the code that hosts that domains I can make exp date or even ownership or anything say anything I want so by ur the time they figure it out it it'is too late and I have a good excuse. If I really got caught I could just give them back the domain and keep my embezzled money.
2) I could then sell those stolen domains to people for a discount if they are wiling to help me embezzle and launder by paying a fraction of costs in USD and then sending the balance in crypto secretly or buying some property or item in a hidden trust's account. Company takes a loss but I can pocket a big chunk tax free.
3) I could set up a domain escrow service and launder money for organized crime and myself. Domains have no set definitive cost so it would be very easy to buy and sell domains to each other at high and low prices and keep that squeaky clean'ish money in between. Of course this model doesn't always end well but I guess there is some risk in all business models.
4) I could also use my escrow service as a personal LOC and loan out money at high interest rates for domains names and make big bets on stonks and crypto with that money and hope the kite doesn't crash before more wind comes.
5) I could then claim those domains I hold as collateral as my own and take out massive loans or trick investors out of their money with inflated valuations.
6) I could set up a simple ponzi scheme where I give people make believe money in exchange for real money.
7) I could sell all my customers' and their users' data to the highest bidder and just make it look like a big accident but if this is ever discovered it would probably go very badly for me, especially if all my customers I betrayed were a bunch of militia types with bald heads and black boots. I sure hope no one would make it public if I did such a thing.
8) Now with all this filthy lucre in crypto in various anon wallets how can I convert to real money since it is still pretty hard to buy real things with crypto? Well there are people who will convert your crypto to USD or whatever for a cut, usually about $.75 to the dollar. You just show up in a coffee shop with your devices and money, transfer the crypto and take the money. There are many sites online to coordinate such transactions but most of them are in places like Mexico or Thailand, especially Thailand.
Now of course it would be very easy for anyone with half a brain to unravel these scams so I will need to have a bunch of corrupt people around me to help cover up things and protect me.
Anyone want buy some shares in my new registrar? What should I call it?