Chinese domain name investor getting out, dumps 70,000 .cc domains

[Arpit131]

Booksir announces to WeChat group that he’s exiting the domain name business.

A prominent Chinese domain name investor has announced on WeChat that he’s getting out of the domain name investing business.

Zhuang Liangji (庄良基), known as Booksir, says he has gotten rid of 70,000 .cc domain names that he bought at an average CNY 120 each ($18.00 US). That’s a $1.25 million dollar investment.

His WeChat post isn’t clear on if he received any compensation for the domain names. A rough translation is that he “gave up/abandoned” the domain names.

Booksir has a number of other businesses, so it seems like he has decided that domain name investing isn’t where he wants to focus his efforts.


Source

 

[baseballworld]

It's not for everyone and takes some work at that level.

 

[wwwweb]

I think when it comes to chinese, and domain investment, the correct term is pump, and dump.

They really never cared about domains in general, it was simply about making a decent margin in a quick amount of time.

Many other Chinese face the same doom with the onslaught of speculation registrations coming due in 60 days.

 

[nvdomains]

Domaining is for people who work hard and are open to learn from mistakes/failures especially in the initial days.

 

[daica85]

average CNY 120 each ($18.00 US). That’s a $1.25 million dollar investment.

It's an awesome, this guy must be an millionaire..