Cryptocurrencies are crashing. New wave up coming to domain market?

Discussion in 'Cryptocurrencies and Digital Currencies' started by tonecas, May 27, 2017.

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  1. offthehandle

    offthehandle .--. .- -.-- .- ...--- Business Account VIP

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    Exactly. Centralized control is the bane of so many ills as all societies around the world. Few control all. I liked SharkTank on TV, thought it was good but also only a group of few people. It publicized in a good light small businesses though, and sure inspired more people to invent, create, make things.
    I wish Google and Amazon would lose control to the masses of newer platforms before I expire.
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. deez007

    deez007 The More I Learn The Less I "Know"

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    Lol, sorry man...was late and I ended up passing out. :)

    BTC is perfectly transactional... What I meant is what I would like to see and I think it is possible is for BTC value to spike to considerably high amounts and instead using it for daily transaction people would start using their BTC wallets for saving their money instead of daily transactions...and instead they would use other currencies for their daily transactions... off course, nobody knows for sure whats going to happen and how it will all play out :)
     
  3. offthehandle

    offthehandle .--. .- -.-- .- ...--- Business Account VIP

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    I am off hours anyway working up late as usual. Thanks for the follow up. I am intrigued by these newer coins and how this plays out.
     
  4. poweredbyme

    poweredbyme Established Member

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    Anything is possible even though I think Cryptocurrencies will not crash. If it happens small portion of the money left from cyrptocurrencies may enter into domain market. IMHO, I don't think the effect on domain market will be high if Cryptocurrencies crash . Because I think domain market is not big and has a wide user base compared to Cryptocurrencies, also domain market is harder to enter as it requires more knowledge. Also they are different things with different functionalities. For instance, you can't use domains as a means of exchange. Cryptocurrencies resemble gold rather than domains. IMHO, a possible crash in cryptocurrencies may raise gold prices a little bit. But the effect on domain prices would be so low.
     
  5. Mister Funsky

    Mister Funsky Active Member VIP

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    I only have a small stake in crypto domains...wish I had listened to a friend of mine years ago when he said he would build me a computer if I wanted to mine bits...sadly I told him no.

    Crypto is a great idea and there is room for many types on the global market, but with the shadier element of societies using it to move/hide funds, it is probably a matter of time before one or more governments pull the plug and label it a criminal activity (because of the bad guys using it). If/when that happens, the bottom falls out of it all.

    Only if global banking systems get heavily involved will it be a long term safe bet.

    (disclaimer: I am not a banker or lawyer...only pretend to be after having a few drinks)
     
  6. tonecas

    tonecas Active Member VIP

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    I believe after being wrong I will be right now. i am taking the cue from the leader, Bitcoin.

    please do not enter in discussing with me on this point. I will not waste time on it.
    i am now strongly convict, on about 99%, that the game is over.

    as a side note I warn everybody to take very care on your investments on crypto currencies from now on. PLEASE, do it for your own sake... do not enter in delusions, do not blindly buy from now on, and start liquidating your long positions on this market. It will be a tremendous wealth destruction for the next 2 or 3 years...

    again, i believe in the technology, but a bubble is a bubble, and things take their time to unfold.

    also, believing in the technology doesn't mean that these open sources projects will work/survive
    . most probably, the technology will reach mainstream with private business implementations. I conceive Bitcoin as acting in the future as a store of value, similar to gold, unless governments step in because of money laundering concerns or lack of control of money circulation.

    this being said, I revert back to the objective of this thread that, considering the crypto-currency market will deflate, if we will see money returning to domains.

    this time things are even more interesting because we have recently had a drop on the short domain segment for what it seems to me a capitulation. so it would be interesting to see if the two things coincide, like it has been suggested before when the domain market turned down and cryptos exploded up.
     
  7. xynames

    xynames Established Member

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    Lol tonecas wrote this when btc was at 2000 which it is now about triple that, and I’ve been holding and accumulating for over four years now, and plan to hold and accumulate for many more years.

    As far as domains: actually namebio sales reports on even some of the crappiest four letter domains are in the $900-$1000 range lately.
     
    Last edited: Nov 12, 2017
  8. Weber

    Weber Established Member ★★★★★★★★★★

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    Those hawking crypto-tokens need new buyers much more than you need crypto-tokens.
     
  9. xynames

    xynames Established Member

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  10. Weber

    Weber Established Member ★★★★★★★★★★

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    Every country needs competent leadership and a stable currency in order to thrive, not an exchange medium with wild swings in perceived value between legitimate and quasi-legitimate currencies.
     
  11. xynames

    xynames Established Member

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  12. elevator

    elevator Active Member VIP

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    This is to remind you of your pprediction about ETH; ETH is now $300
     
  13. deez007

    deez007 The More I Learn The Less I "Know"

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    Thanks for the reminder :) .... I see it's sitting at $357 currently..
     
  14. Weber

    Weber Established Member ★★★★★★★★★★

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    What are the terms? I would bet the buyer is going to be required to heavily discount their digital currency payment and be subject to price adjustments until closing or it could just be a PR stunt. So many possible if' and buts.
     
  15. elevator

    elevator Active Member VIP

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    Can you Imagine!
     
  16. xynames

    xynames Established Member

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    Well, the first time I accepted BTC it was in 2013 I believe, a client owed me a couple thousand dollars and I told him that I couldn't take that much risk, so that he had to pay me double, and he gladly obliged. However, as I recall over the years not again since then they have simply paid me the exact amount, and it has worked out great...for me!

    I recall this one too, developer seller $7.85M mansion in Vegas for bitcoin in 2013:
    http://www.foxnews.com/us/2013/12/14/vegas-developer-selling-785m-mansion-for-bitcoin.html
    This verbiage from the article:
    "Locking in a price for such a large transaction is going to be kind of difficult," he said. "If the value is changing 30 percent a day, how do you quantify that in a contract and expect each side to hold on for 30 to 90 days while escrow clears?"
    but I don't think there would be any grounds to ask for a premium just because bitcoin is paid, nor would I don't think any buyer agree to such a premium as he could simply then liquidate his BTC at that moment and turn over cash, notwithstanding transactional costs (negligible) and tax issues.

    When I send btc wallet invoices to my clients, I have blockchain create a wallet that references a specific dollar amount and I believe that it corrects the wallet so that whatever is paid at that moment is equal to the dollar amount of the invoice, but I am not sure. All I know is that I tell the payor that the amount of BTC he submits must be equal to X dollars at that moment, and it has not been an issue. Again, I am accepting btc for services since 2013, I will accept it for domains too but that is not what I am talking about here.

    You know what, I am going to inquire at blockchain about this, ask if the special wallets I create for individual transactions are tied to the fluctuating prices, I have been wondering about this for a while now. It's just not that easy to talk to blockchain they are overseas, and I login only via proxy on a special secure laptop.
     
    Last edited: Nov 19, 2017
  17. xynames

    xynames Established Member

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    I'm HAPPY with the BTC rise, but I salivate when I think that $50K in ethereum early part of this year would have hit $2M at the peak.

    So many of these cryptos are so risky though, and the majority may not make it. BTC is like Kellogg's Corn Flakes, The Original and Best.
     
    Last edited: Nov 19, 2017
  18. xynames

    xynames Established Member

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    Real BTC crash, over 9000 now. :xf.grin: What a crash better hide under the door frame.
     
  19. Jasonn

    Jasonn Top Member VIP ★★★★★★★★★★

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    whats going on in crypto now is the definition of a bubble.
     
  20. xynames

    xynames Established Member

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    Btc is just starting to turn mainstream. The real rise hasn’t even begun.

    This is like...amzn at 200. Why is it happening? Dunno but it is. You may shake your head at it but it’ll speed along whether you jump on or not.

    Amzn went all the way down to single digits after hitting 200 in Dec 1999. Now at almost 1200.
     
    Last edited: Nov 26, 2017
  21. Jasonn

    Jasonn Top Member VIP ★★★★★★★★★★

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    i regret not buying bitcoin when it was like 70 a coin..i almost did but passed but sure as hell aren't going to buy it at the crazy price its currently at.
     
  22. xynames

    xynames Established Member

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    Friday two days ago a gang of people bought more amzn at 1150 raising its price another thirty or so which I’ve been holding it on and off since 1998 when I was a pup (wish I had held throughout but woulda seemed crazy to hold through the 2000-2002 crash).

    And today more people bought btc bringing it above 9000 which I’ve been holding and accumulating btc since 2013.

    You can’t do anything about the past only the future.
     
    Last edited: Nov 26, 2017

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