discuss Diem??

[DaveX]

This morning I read an article about a company that just registered a bunch of "Diem" domains. Something about crypto currency. I didnt' see any threads about this Diem, so I thought I would start one.

Here's a link to the article.
https://domainnamewire.com/2020/09/04/diem-is-this-facebooks-digital-currency-initiative/

Have/Are/Will you be registering any Diem domains?

 

[mrcurly]

Published yesterday

https://www.google.com/amp/s/www.th...l-currency-launch-Coinbase-Facebook-Uber.html

 

[karmaco]

Regardless, I'm failing the seller with such high Diem sales happening while I can't move his XDM domains, and I don't like to fail my Clients. I had the entire portfolio of premium XDM domains priced just a bit higher than a single one of those Diem sales, and nothing. Maybe I'm not marketing them right, or flooding the market with premium XDM domains is working against the seller. Perhaps we need to take them all off the market and then auction them on Sedo one by one slowly with a low starting price and no reserve as Diem continues to progress considering how much myDiem.com sold for on auction with no reserve.

I'm going to advise the seller to end the XDM sale and hold off because I think they'll be able to sell them for much higher very soon, especially as more people see the prices Diem domains are currently selling for.

I'm very excited to see the high Diem sales this early on as that should bode well for XDM, so well done everyone.

Domaining is a long waiting game and these particular investments may or may not pay off. Its a gamble imo.

As you have been told, some of those sales are dropped auctions picked up by other domainers. FB seemed to acquire what they wanted before this was public.

That being said, you can’t guarantee your client anything will sell or that they won’t get a UDRP should FB trademark XDM tomorrow. Who else will use XDM but them?

 

[DomainBrokerPro]

Domaining is a long waiting game and these particular investments may or may not pay off. Its a gamble imo.

As you have been told, some of those sales are dropped auctions picked up by other domainers. FB seemed to acquire what they wanted before this was public.

That being said, you can’t guarantee your client anything will sell or that they won’t get a UDRP should FB trademark XDM tomorrow. Who else will use XDM but them?

If they were my domains, I would wait a few years until Diem and XDM establish themselves. But the Seller just wanted a quick guaranteed flip and I erroneously told them I could do it (and I was wrong).

There is no TM on XDM, so it's less risky than Diem IMO. And despite Diem already having applied for a TM, their domains are still selling now for $x,xxx.

So of course this is a high-risk, high-reward investment, but low $xxx for domains whose BTC-equivalents have sold for mid $xx,xxx when Diem has the potential to be bigger than Bitcoin since it may actually be used widely in international commerce is something I honestly told the Seller was completely doable. But I was wrong and I have no problem admitting it.

 

[karmaco]

If they were my domains, I would wait a few years until Diem and XDM establish themselves. But the Seller just wanted a quick guaranteed flip and I erroneously told them I could do it (and I was wrong).

There is no TM on XDM, so it's less risky than Diem IMO. And despite Diem already having applied for a TM, their domains are still selling now for $x,xxx.

So of course this is a high-risk, high-reward investment, but low $xxx for domains whose BTC-equivalents have sold for mid $xx,xxx when Diem has the potential to be bigger than Bitcoin since it may actually be used widely in international commerce is something I honestly told the Seller was completely doable. But I was wrong and I have no problem admitting it.

Stop comparing BTC to Diem. BTC is not trademarked— Diem is. Two different beasts.

Learn more about trademark law and domains before jumping in so forcefully. FB will have no problems coming after people who registered domains after the announcement should they chose.

If everyone is jumping off a bridge will you too? So what that a dropped auction garnered 4 figures. It still may never sell or be subject of UDRP. No one can tell what FB will or won’t do but they have no problem defending their marks if they want to.

 

[mrcurly]

@DomainBrokerPro

I'll buy another domain from you, pm sent

 

[Jeffrey]

Facebook and some new tech companies would allow in some ways to use their name or logo for profit by other people. Ex: If you sell shirts with a Facebook logo. Because it helps to promote their company unless you do not alter or misrepresent their company. Well, that how it was a decade ago, not sure about their stance now.

 

[APP VN]

Mydiem.com was only registered on the 16th December 2020 too......great sale in 4 days!

x200 profit within 4 days.

 

[Flippingit]

From what I have read the Diem blockchain will be open source, designed so that anyone can build on it, and is able to scale so that billions of people can depend on it for their financial needs.

The Diem payment system is built on blockchain technology to enable the open, instant, and low-cost movement of money. People will be able to send, receive, and spend their money, enabling universal access to financial services.

So I get that they filed a trademark for "Diem" but that was the smart thing for any company to do. Diem is already a name being used in financial services/fintech so they can't put the term within financial services on full lockdown. They would have only applied for a trademark because this was what any big organisation should do.

But its quite clear they want this to be used and utilised in an open source way by the financial sector and therefore imo companies affiliated with their program will be able to use the name "Diem" so that users will know what service they are using.

So yes everything is a gamble don't get me wrong. But if Facebook wanted to put lockdown on a term they would not have chose a generic word that is already being used by a fintech company. They could have created something unique like "facebook" was and claimed complete ownership of the term, but I don't think this is what their idea for diem is about.

 

[mrcurly]

From what I have read the Diem blockchain will be open source, designed so that anyone can build on it, and is able to scale so that billions of people can depend on it for their financial needs.

The Diem payment system is built on blockchain technology to enable the open, instant, and low-cost movement of money. People will be able to send, receive, and spend their money, enabling universal access to financial services.

So I get the they filed a trademark for "Diem" but that was the smart thing for any company to do. Diem is already a name being used in financial services/fintech so they can't put the term within financial services on full lockdown. They would have only applied for a trademark because this was what any big organisation should do.

But its quite clear they want this to be used and utilised in an open source way by the financial sector and therefore imo companies affiliated with their program will be able to use the name "Diem" so that users will know what service they are using.

So yes everything is a gamble don't get me wrong. But if Facebook wanted to put lockdown on a term they would not have chose a generic word that is already being used by a fintech company imo.

Nicely put and 1000% agree!

I also bet you will see plenty more 'diem' domain sales in the coming weeks

 

[LaunchUp.com]

Stop comparing BTC to Diem. BTC is not trademarked— Diem is. Two different beasts.

Learn more about trademark law and domains before jumping in so forcefully. FB will have no problems coming after people who registered domains after the announcement should they chose.

If everyone is jumping off a bridge will you too? So what that a dropped auction garnered 4 figures. It still may never sell or be subject of UDRP. No one can tell what FB will or won’t do but they have no problem defending their marks if they want to.

Another finance company is using Diem and Facebook knew that. So FB will have to bulldoze them before they worry about domains. It's funny to rebrand and still step on someones toes. But when you are worth so much you think you can roll over everyone infront of you.

 

[LaunchUp.com]

Nicely put and 1000% agree!

I also bet you will see plenty more 'diem' domain sales in the coming weeks

I literally was thinking this before i read your post. Diem is established in the financial sector long before Facebook. They can't control the term without getting into a fight with these smaller companies. And how would that look when they are trying to build trust. It's just going to make their tyrant..monopoly image worst.

 

[mrcurly]

I literally was thinking this before i read your post. Diem is established in the financial sector long before Facebook. They can't control the term without getting into a fight with these smaller companies. And how would that look when they are trying to build trust. It's just going to make their tyrant..monopoly image worst.

Agree!

 

[Woke Monkey]

Sounds like you’re encouraging people to buy Trademarked terms here.

 

[karmaco]

Good luck to those playing with fire. If you examine their trademark application they used MANY categories to defend that mark. That is not done by a company who doesn’t care who uses their mark. Anyone who registered names close to the application of that TM can be called a classic cyber squatter. Berryhill discussed it but to those of you who think you know better good luck with that.

 

[karmaco]

Another finance company is using Diem and Facebook knew that. So FB will have to bulldoze them before they worry about domains. It's funny to rebrand and still step on someones toes. But when you are worth so much you think you can roll over everyone infront of you.

The only Diem in a financial category I am finding is Diem Checkless (two words) with an application 6 weeks before Facebook who is registering just Diem.

Don’t know what other finance ones you are referring to. All other Diem marks have two words or non financial category or dead marks.

 

[mrcurly]

Good luck to those playing with fire. If you examine their trademark application they used MANY categories to defend that mark. That is not done by a company who doesn’t care who uses their mark. Anyone who registered names close to the application of that TM can be called a classic cyber squatter. Berryhill discussed it but to those of you who think you know better good luck with that.

Facebook have said it's an "open source" for people to develop apps for all sorts and to get onboard and spread the word.....pretty much what everyone has done with bitcoin!? They would only be bothered if you try to bring a diem coin out wouldn't they?

 

[Keith]

Facebook have said it's an "open source" for people to develop apps for all sorts and to get onboard and spread the word! They would only be bothered if you try to bring a diem coin out wouldn't they?

You can build content at Facebook too but you can’t separately brand it under your own fb domain.

 

[Flippingit]

https://www.smeweb.com/2019/07/23/hard-trademark-cryptocurrency/?cli_action=1608731133.854

This is a good read.

 

[mrcurly]

you can’t separately brand it under your own fb domain.

Where have facebook said that by using diem+word?

Diem will be launched on all exchanges too not just on facebook, open for developers to develop a site connecting to facebook diem, hence spreading the word etc

I'm not that bothered either way tbh, only have 1 domain.

 

[karmaco]

Facebook have said it's an "open source" for people to develop apps for all sorts and to get onboard and spread the word.....pretty much what everyone has done with bitcoin!? They would only be bothered if you try to bring a diem coin out wouldn't they?

You are just trying to justify your purchases. Open source doesn’t mean welcome cyber squatters register everything under the sun we won’t care. They registered the mark and will have no trouble defending it. You bought those names to profit off of Facebook new venture. That is cyber squatting and you guys should know better.