NameSilo

Domain & Crypto Maximalist

Located in General Domain Discussion started by Internet.Domains, Jan 20, 2020.

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  1. Internet.Domains

    Internet.Domains Top Contributor VIP

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    Following, both the cryptocurrency and domain market, I often come across similar behaviors that can be described as "maximalist."

    max·i·mal·ist
    /ˈmaksəmələst/
    noun
    1. a person who holds extreme views and is not prepared to compromise.
    adjective
    1. of or denoting an extreme opinion.
      "if we demand only maximalist ends, we will get nothing"

    In the crypto market there are "Bitcoin maximalist's" and in the domain market there are ".com maximalist's."

    Both Bitcoin and .com are similar in that they were the first to create a market. They changed the system, they were revolutionary. They established something new and desirable. They hold that history.

    Does that mean nothing can come and contend? Can anything come and share a piece of the total market pie? Can anything else come and grow the total market cap? Can anything else contribute new attributes to an existing market?

    In crypto there are many other currencies trying to compete for market share. In domains the same holds true. If history tells us anything, it's that nothing stays stagnant. Change comes and when it does it catches many by surprise, even some of the best.

    1989: “We will never make a 32-bit operating system.” — Bill Gates, co-founder and chairman of Microsoft.

    1992: “The idea of a personal communicator in every pocket is a “pipe dream driven by greed.” — Andy Grove, then CEO of Intel.

    2003: “The subscription model of buying music is bankrupt. I think you could make available the Second Coming in a subscription model, and it might not be successful.”Steve Jobs, in Rolling Stone

    2007: “There’s no chance that the iPhone is going to get any significant market share.”Steve Ballmer, Microsoft CEO.


    One of the larger problems that face the cryptocurrency market is mainstream adoption. Currently its estimated that only about 50 million crypto addresses exist. Exact users are hard to put a number on. With domains, very few understand the values, such as trust, that a good domain can give. Most people don't consider a domain as a digital asset. In both cases (domains & crypto) "Maximalist" behaviors hurt and slow adoption of the true potentials. Maximalist's confuse new consumers, instead of educating them on all attributes available. Confusion slows, and often paralyzes, market growth.

    Bitcoin and .com won't lose value anytime soon, if ever. They both have their market share well established. They are both a great store of value. Theres no denying they are the top dog.

    Although, that doesn't mean that a rival or competitor can't gain value. That doesn't mean the total market can't grow with other competitors. Technology is dynamic, it's ever changing, just as markets for consumers is dynamic and ever-changing. Competition and choices are what grows a total market, not maximalist attitudes.

    I look forward to the ever-changing markets, as an investor, in both .com and bitcoin. I also look forward to being part of the "other" opportunities available and watch that market share grow as well.

    Cheers to Bitcoin, and other cryptocurrencies. Cheers to .com, and other domain extensions.

    Are you a maximalist?
     
    Last edited: Jan 20, 2020
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  2. Samer

    Samer Top Contributor VIP

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    Yup. Well put.

    i prefer Bitcoin, due to being the first crypto, and capped supply.

    Check out Pizzaforbitcoins.com
    or bitcoinsforpizza.com;

    For the transcript of first bitcoin transaction
    the buy bought a pizza for 10,000 BTC;
    they call it; “the $100M Pizza” back then bitcoin wasnt known to many, trading pennies!

    Samer
     
    Last edited: Jan 20, 2020
  3. Internet.Domains

    Internet.Domains Top Contributor VIP

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    Yes, I love bitcoin because of the capped supply. Although, ETH was more profitable by percentage over the last week.

    That pizza will hopefully be a $1bn dollar buy soon..hahah
     
  4. Samer

    Samer Top Contributor VIP

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    this why i Bitcoin, until i die!

    “more than 80% bitcoin mined, 3 million left.”
     
    Last edited: Jan 20, 2020
  5. Internet.Domains

    Internet.Domains Top Contributor VIP

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    Yes, bitcoin is like the L.com, LL.com and LLL.com market. Meaning there is only so much available.
     
  6. garptrader

    garptrader Top Contributor VIP ★★★★★★★★★★

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    While there are thousands of cryptocurrencies, Bitcoin dominance has been hovering around 65-70% in recent months. There are hundreds of domain extensions but .Com comprises roughly half of all sales. There are many dapps on ethereum, EOS, Tron, etc but none has a market cap even close to Bitcoin. Litecoin has 2.5 minute transaction confirmation times vs 10 minutes for Bitcoin while both litecoin and bitcoin cash have lower transaction fees than bitcoin - but still a market cap a fraction of bitcoin. Slightl improvements are inadequate when it comes to technological innovation. But noone today is driving around in a Model T. Bitcoin is not used for decentralized apps / smart contracts but Dapp Radar shows that there are only a handful of dapps with even a thousand daily users. Don't put all your money into alt coins ranked outside the top 100. There is nothing inherently wrong with alternative extensions. They are just harder to sell.
     
  7. garptrader

    garptrader Top Contributor VIP ★★★★★★★★★★

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    While at this point still merely a proposal, there is currently a bill in the US House to exempt from tax virtual currency transactions where the gain is less than $200. IF passed, small retail transactions could be paid with Crypto currencies without the administrative burden of reporting them and determining the tax liability associated with each transaction. However, a similar bill with a larger exemption amount was proposed in 2017 but was defeated.

    It seems the wording refers to personal transactions which sounds like retail purchases rather than trades.
     
    Last edited: Jan 21, 2020
  8. Furquah

    Furquah Brand Ambassador INDIA Epik.com Staff VIP

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    I am not a
    Maximalist

    I was the first person from that Indian bitcoin group which gone with Roger ver and started Bitcoin Cash.

    Why?


    Bitcoin (BTC) with its current ability is unscalable it was mean to solve the problem it was mean to bank unbanked people, it was mean to be fast and it was mean to be a widely useable digital currency but because of lack of scalability and performance make bitcoin just like a gold.

    Comparing Bitcoin (BTC) with .com domain is logic-less.

    I am not .com maximalist but I think if you give me chance to buy a single word .com or take 1 BTC I would choose .com




     
  9. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent Gold Account VIP Trusted Blogger

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    Thanks for interesting thread @Internet.Domains ! I particularly liked your collection of tech quotes over the years demonstrating that even very smart and informed people can be wrong predicting future. Although some of the predictions they made were probably tinged by what they wanted to happen or not.

    I think a majority position in any field always leaves space for success of others, as long as those challengers bring both quality and differentiation to the table.

    Bob
     
  10. Truespin Domains

    Truespin Domains Upgraded Member Gold Account VIP

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    No. I own both bitcoin and dot coms, but I also own Ethereum and other extensions.

    Never seen the point in becoming ideologically attached to anything. The classic phrase involving eggs and baskets holds true.

    Markets are ultimately irrational, so committing to one type of asset makes no sense in my mind. Hedge your bets.
     
    Last edited: Jan 22, 2020
  11. saucey

    saucey Top Contributor VIP ★★★★★★★★★★

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    Last year I attended my grad reunion. Will not say which one but I will say it's been a number of years since I graduated...

    Ran into an old buddy who I hadn't seen for many years. Turns out he had recently bought a hydroelectric dam to power his Bitcoin mining "farm".

    I guess there's still money to be made in mining!...
     
    Last edited: Jan 22, 2020
  12. BrandAptly.com

    BrandAptly.com Established Member

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    I theorize that maximalism and risk-management make good bed-fellows. It's very likely most domainers who rigidly adhere to specific practices are driven more by their fear of deviating from the norm rather than their passion for and belief in their choices. It's a classic manifestation of the herd mentality.
     

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