Domain Speculation Ethics

[pertosda]

Hi,

I just start this thread because I have written a post in my internet&technology weblog about domain speculation and it has generated several negative comments.

Some of my visitors have said I should be ashamed of participating in such kind of business, that I've got a cheek and that I should feel a guilty conscience, comparing it to real-state speculation.

I had never thought of this until now, but I still think there is nothing wrong with it, as long as one doesnt do cybersquatting.

But how can I explain this to people with such a negative attitude towards the domain business?

Any comments welcome.

 

[gazzip]

Hi, Point them to the recent sales list at -

http://www.dnjournal.com/domainsales.htm :lol:

 

[FedPrimeRate.com]

Some of my visitors have said I should be ashamed of participating in such kind of business...

Nonsense. Speculating on generic names in any extension is fair game. If anyone told me that I was being "unethical" for holding a name like Joy.tv, I wouldn't even give such an accusation the respect of a reply. Nonsense!

AmCy

 

[kjmz]

Hi, Point them to the recent sales list at -

http://www.dnjournal.com/domainsales.htm :lol:

I totally agree with that. I don't really even see what's wrong with cybersquatting, I think if someone buys the domain they should be able to do what they want with it. Your allowed to buy a house and just leave it by itself

 

[JMJ]

I think the recent article http://www.business2.com/b2/web/articles/0,17863,1132510,00.html?promoid=rss should make them quit whining. Hell they'll probably end up becoming one themselves after reading it. lol

 

[pertosda]

Thanks for your comments guys.

 

[snoop]

I should feel a guilty conscience, comparing it to real-state speculation.

usually it is poor, unsuccessful types who make these kinds of comments - the same type of people who hope to get rich by buying lottery tickets. Best to ignore the little people.

 

[mole]

usually it is poor, unsuccessful types who make these kinds of comments - the same type of people who hope to get rich by buying lottery tickets. Best to ignore the little people.

oic, I thought buying domains were like buying lottery tickets too? Well, we learn something new each day.

 

[Ron Jackson]

Some of my visitors have said I should be ashamed of participating in such kind of business, that I've got a cheek and that I should feel a guilty conscience, comparing it to real-state speculation.

There is supposed to be something wrong with real estate speculation? Your visitors who say things like this are so incredibly naive they really should not be allowed out of the house without adult supervision. I usually ignore people who are this clueless but I got an email from one this week that was so remarkably silly I couldn't keep myself from responding.

Her note to me:

"I totally disagree with the ethics of selling domain names second hand. This defies the whole meaning of Internet--a tool putting power and possibilities back in the hands of individuals. I feel as though you are high-jacking these possibilities and holding them for ransom.

The domain that I am looking for (*******.info) is not popular or hunted, which would make it's value no more than what you have paid for it since September 2003 at enom.com--a total of $86.85.

But I don't want to purchase it from you. If you decide to voluntarily release the name upon expiration next fall, please let me know so that I can purchase it fair and square from my domain registrar, godaddy.com.

Sincerely,

Moron F. Moron
Moronville
(names changed to protect the innocent)

My response:

Dear Moron (I actually used her real name though this apellation would have been more appropriate):

I disagree with the ethics of people selling land. I believe that God made the earth for everyone. My neighbors own a vacant lot between our houses that I would like to have and it has a current market value of $100,000. Their cost is nowhere near that - in fact their parents donated the lot to them. So I offered them $1,000 for it which would be all profit for them. They had the nerve to turn me down!

Regardless of what you so naively think, good domains are highly valued and those who have paid for particular names have full ownership rights to them (and just for your information, I have purchased many names from previous owners for far more than registration fees). I think it is incredibly arrogant of you to think you should have someone else's property for less than it is worth simply because you want it. To me that is completety disgusting. And what makes you think you have the right to decide the meaning of the internet?

Also, just for your information, if I did let this domain expire (which I will not) you would have absolutely no chance of registering it at GoDaddy or anywhere else. Hundreds of other investors who understand the value of the domain would use professional drop catching services to go after the domain and it would be registered within a split second of the time it expires. That is 100% gauranteed.

I doubt that you are interested in learning anything since your mind is already made up and you clearly think you know what is best for everyone else. But if you want to do a little research, here is what similar new extension domains have already sold for this year: http://www.dnjournal.com/archive/domainsales/2005-3Q-expanded-newtld.htm .

 

[gazzip]

:lol: Great reply Duke, Love it !

 

[mole]

I believe that God made the earth for everyone.

Who can argue with God? :sold:

 

[snoop]

oic, I thought buying domains were like buying lottery tickets too? Well, we learn something new each day.

If a person thinks the odds are stacked against them in domains like they are in all lotteries (to the point where the expected return is negative) then it is not wise to put money into it.

 

[Midano]

Who can argue with God? :sold:

From the book of Gene(sis):

In the beginning was the word (a dictionary word, I presume)...
On the eights day God created the Internet and saw that it was goooooooood!

 

[barefoottech]

But I don't want to purchase it from you. If you decide to voluntarily release the name upon expiration next fall, please let me know so that I can purchase it fair and square from my domain registrar, godaddy.com.

I wonder if Moron.f.Moron buys anything at retail. Apparantly she buys everything at raw material cost because make a sale at a fair retail market value is EVIL.

How can it be "fair and square" to deny a rightful owner of a fair price as a reasonable return on the investment made ($87 + other costs) since originally registered in 2003. Let alone any appreciation in values over that period.



Sad thing is ,I know several people here who have this mentality ,because a Name was $8 to reg ,it will always be only worth $8.

 

[wow!]

Whats wrong about having a domain like Goooogle.com ?!

Sometimes they are right...

 

[DomainSage]

Hi Folks,

As far as I am aware most of the economies on this planet are based around people buying something at a low price and then selling it on at a higher one. Sometimes they add value by processing it in some way. Sometimes they add value by using their knowledge and skill.

Hmmm ... That sounds exactly like domain name trading to me

Or maybe I should just go down the pub.

All the best

Richard

 

[wasistdas]

Any speculation is unethical You buy for less and sell for more. What an evil you are. You buy your food and sell your experience and knowledge. The whole world is the whole speculation. All life is lots of deals. A deal to grow and entertain your parents when you are a kid. A deal to have friends (you are my friend, I'm yours). Usual deals recognized as deals. Even when you donate to a charity, it is also a deal. And so on. I know it is a sort of strange philosophy, but try to think about it and you will see the same.

 

[pertosda]

These are some of the arguments these "attacking" guys commented:

"You try to make money without producing any extra value". (This guy even calls me "bloodsucker").

"Some talented people produce useful things and some people have a nerve and get money from others without producing anything. Not everybody can make useful things, but everybody likes money".

"As few things as possible must be prohibited. Otherwise what you do should be prohibited. I bet you have guilty conscience as estate speculators do".

I am quite surprised abut these reactions, I wasnt expecting them at all. You can check their actual comments if you understand a bit of spanish in my thread:

http://www.davidsite.com/post.asp?id=67

Im planing a new post explaining differences between speculation and cybersquatting and some other reasonable arguments. I dont want to highlight the possibility of making a lot of money but the chance to get into a business that might provide a lot of independance.

 

[mole]

(This guy even calls me "bloodsucker").

I told you not to go around wearing your black cape on domain forums, duke. Because of you, people think domainers are vampires 8-X

 

[wot]

There is supposed to be something wrong with real estate speculation? Your visitors who say things like this are so incredibly naive they really should not be allowed out of the house without adult supervision. I usually ignore people who are this clueless but I got an email from one this week that was so remarkably silly I couldn't keep myself from responding.

Her note to me:

"I totally disagree with the ethics of selling domain names second hand. This defies the whole meaning of Internet--a tool putting power and possibilities back in the hands of individuals. I feel as though you are high-jacking these possibilities and holding them for ransom.

The domain that I am looking for (*******.info) is not popular or hunted, which would make it's value no more than what you have paid for it since September 2003 at enom.com--a total of $86.85.

But I don't want to purchase it from you. If you decide to voluntarily release the name upon expiration next fall, please let me know so that I can purchase it fair and square from my domain registrar, godaddy.com.

Sincerely,

Moron F. Moron
Moronville
(names changed to protect the innocent)

My response:

Dear Moron (I actually used her real name though this apellation would have been more appropriate):

I disagree with the ethics of people selling land. I believe that God made the earth for everyone. My neighbors own a vacant lot between our houses that I would like to have and it has a current market value of $100,000. Their cost is nowhere near that - in fact their parents donated the lot to them. So I offered them $1,000 for it which would be all profit for them. They had the nerve to turn me down!

Regardless of what you so naively think, good domains are highly valued and those who have paid for particular names have full ownership rights to them (and just for your information, I have purchased many names from previous owners for far more than registration fees). I think it is incredibly arrogant of you to think you should have someone else's property for less than it is worth simply because you want it. To me that is completety disgusting. And what makes you think you have the right to decide the meaning of the internet?

Also, just for your information, if I did let this domain expire (which I will not) you would have absolutely no chance of registering it at GoDaddy or anywhere else. Hundreds of other investors who understand the value of the domain would use professional drop catching services to go after the domain and it would be registered within a split second of the time it expires. That is 100% gauranteed.

I doubt that you are interested in learning anything since your mind is already made up and you clearly think you know what is best for everyone else. But if you want to do a little research, here is what similar new extension domains have already sold for this year: http://www.dnjournal.com/archive/domainsales/2005-3Q-expanded-newtld.htm .

Ah, an invitation to sex and travel in the nicest possible way