Epik Escrow

Domaining, Why?

Labeled as discuss in General Domain Discussion started by Want2learn, Jan 10, 2019.

Replies:
32
Views:
1,403

  1. Want2learn

    Want2learn Top Member VIP

    Posts:
    3,265
    Likes Received:
    2,457
    People have asked me, “Why do you like domains? You are smart, go make your money in real estate or the stock market if you want a challenge.” Why do I like domains? I am smart and have been successful in other arenas. Domaining does present people with a new way to generate income. I am attracted to that opportunity to make money. Domaining does not require a lot of money to start up. Ironically, conventional wisdom says to skip those cheap hand registrations and focus on buying quality domains at a discount. Otherwise you end up with 400 crappy domains. Trust me, I get it. Domaining in my opinion is when someone buys and sells domain names. You can surely be a domaining hobbyist, I am. Perhaps the line between what a domain hobbyist and a domain collector are could be a bit more similar than is currently thought of. Do you see any differences or similarities between the two? Ah, to be a domain pro!
    But why do I like domains or domaining? I love ideas, writing, communication, numbers, and people. Clearly ideas have been the biggest draw towards domaining. I think another part of the allure with domains is that if I have an idea I can attempt to register a name to fit the idea. It is all an attempt to make money. The very first domain I sold was on SEDO. The domain was (still is) LoveSmiled.com for $100. I realized then that SEDO was going to get their money. I joined NamePros. I was told, Do not register names . . . read . . . listen . . . watch . . . understand . . . watch . . . converse with trusted people . . . understand . . . go for it! Like YOU, I did NOT listen or adhere to the great advice. I had a problem, multiple I’m sure, but the problem was I had way too many domains for most places to qualify for their free services. I am not a very technical person with regards to technology. Tough Domains was a godsend. I was able to start using their platform to have my domains listed for sale. They had everything that I needed. For those of you who have had any success with selling domains, understand what a tool Tough Domains is for Domainers like me! Yeah, a few of you are technical enough to do it all by hand from scratch. Forget that, lots of life to live and don’t want to waste it learning how to make a web page from scratch. Thank you @toughdomains. To those that are reading, what have your experiences been like with aftermarket marketplaces? Have you found an aftermarket that you really love? What features do they utilize that you love?
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

    Posts:
    486
    Likes Received:
    1,728
    I think main reason is freedom -- you can manage a domain portfolio from anywhere with low overhead provided that you don't get overwhelmed with renewing bad names. However, every dog has his/her day and you get a windfall. Personally, during December, I was able to run Epik from the quaint Mexican town called Huatulco. I recommend it. Cheap and safe with nice beaches. At the farmer's market you could get a 50 pound case of organic oranges for $10. For calibration, see actual photo below. Enough said. [​IMG]

    PS - If you are not using Epik escrow yet, you are being silly.
     
  3. lolwarrior

    lolwarrior Founder, Brands.International VIP

    Posts:
    4,962
    Likes Received:
    5,986
    I see domaining as a mild form of addiction for many people. It can be good (and usually safer) alternative to more dangerous habbits like gambling or online poker/casino, and many people who are domainers are/were also gamblers in some shapes or forms (latest example of this: crypto investments")

    The common feature here is that average domainer thinks he is more clever then almost all other people, and that with small investment of money he will get many multiples of his initial investment back just because of his clever mind or vision.

    It works for 1% of people and 99% are loosing money, but most domainers do not care even if they are loosing money - as it also provides opportunity to dream. Every domain can be seen as lottery ticket and this can bring lot of joy and good expectations. When I see portfolios of many people I think this must be the case, as there is no way they can be profitable.

    Saying that, everyone can do what they want with their money - money are not everything, sometimes dreams and positive expectations of future fortune is very worth all the financial losses.

    Imo :)
     
  4. Fancy.domains

    Fancy.domains Selling gTLDs like delicious hotcakes Gold Account VIP

    Posts:
    6,065
    Likes Received:
    8,658
    I’ve to disagree a little. Is it only 1% of the Namepros members that actually are making a profit?! I think it’s more.

    Personally, I would never continue doing this if it wasn’t profitable. For me this is a job. Ok, a job full of freedom and joy, but still a job.
     
  5. kam

    kam Top Member PRO VIP ★★★★★★★★★★

    Posts:
    1,155
    Likes Received:
    436
  6. CJ6

    CJ6 My favorite movies are too offensive now. Whimps. VIP

    Posts:
    2,595
    Likes Received:
    2,848
  7. MapleDots

    MapleDots Domain Properties 2010 - 2019 VIP

    Posts:
    4,437
    Likes Received:
    8,713
    I bought the name of the city where I live. I absolutely love having [email protected] as my email address. It freaks people out and is a great conversation starter.

    I don't think I could have this much fun doing anything else.

    Wait..... oh crap, maybe I need to get out more :facepalm:
     
  8. JB Lions

    JB Lions Top Member VIP

    Posts:
    13,379
    Likes Received:
    18,270
  9. CJ6

    CJ6 My favorite movies are too offensive now. Whimps. VIP

    Posts:
    2,595
    Likes Received:
    2,848
    How long does it take to go through 50 lbs of oranges?
    Personally, I like to buy the non-grown oranges. (Inorganic... not organic) 😏
     
    Last edited: Jan 11, 2019
  10. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

    Posts:
    486
    Likes Received:
    1,728
    Fresh OJ every day for 7 people -- so about a week.
     
  11. MadAboutDomains

    MadAboutDomains Top Member VIP ★★★★★★★★★★

    Posts:
    2,774
    Likes Received:
    568
    I've been obsessed with websites and domains since I first discovered the internet when I was about 13 years old. Since I can remember, I've been obsessed with brands and their branding, domains, trademarks, copyrights and to some extent their patents. They are similar things which probably explains their appeal to me, they have the same qualities as domains, they are protected, valuable and unique.

    My friends and I have coined it O.D.D. (Like O.C.D. :xf.rolleyes:) - Obsessive domaining disorder.

    I enjoy I continually searching for domain names, pursuing domains that I want and to try to get them for a price that is less than I believe them to be worth. Obviously most of the time, this pursuit of domain names leads to a lot of failures compared to successes. Most domain owners come back with ridiculous asking prices and most prospective buyers won't buy - but then the 1 out of 100 times that I get a name or sell a name for a good price it's a rush quite frankly.

    There are a few great things that have come out of this obsession with domains and websites for me. One of those things being that it has lead to a career in software development. It pays well and I love doing it whether it is for my self or my day job. It comes naturally to me and domains feed into this passion.
     
    Last edited: Jan 11, 2019
  12. Chazza

    Chazza Established Member

    Posts:
    74
    Likes Received:
    31
    Personally for me, I used to be in the handle market. Buying and selling unique handles across the board, mainly Twitter though. Then I turned to domains, as I hated knowing that buying / selling handles is against the TOS of most sites. I had overheard from friends that their accounts got banned on the site, and it made me worry that my prized possessions could be taken.

    Being a developer myself, it meant I could create things that get seen on a more professional level. The fact I could purchase really cool domains, and turn it from an idea to a working site that all kinds of people could use just amazed me. Unlike handles which are great and impressive, but only have a limit to them. I also love that the worth of domains will only ever go up, and never drop - unless its based around a Niche, but you understand what I mean.

    That's how I felt regarding domains anyway, haha.
     
  13. MadAboutDomains

    MadAboutDomains Top Member VIP ★★★★★★★★★★

    Posts:
    2,774
    Likes Received:
    568
    Same!!
     
  14. MapleDots

    MapleDots Domain Properties 2010 - 2019 VIP

    Posts:
    4,437
    Likes Received:
    8,713
    Covfefe
     
  15. Want2learn

    Want2learn Top Member VIP

    Posts:
    3,265
    Likes Received:
    2,457
  16. Kate

    Kate Domainosaurus Rex VIP ★★★★★★★★★★

    Posts:
    20,987
    Likes Received:
    22,074
    Before I was a domainer I was simply a developer looking for great names for great projects.
    That led me into researching the process of dropcatching etc.
    So I found out that I had been domaining without knowing it.

    Domaining can be also be an extension of your business activity just like marketing or R&D.
    Some big corporations routinely acquire domain names for their business. While they are not domainers like us, they tend to hang around at the same places and use the same tools as us.

    If you look at the most successful companies of our times - they usually all have great names and this is not by chance.
    Great domains give you a headstart in business.
     
  17. MapleDots

    MapleDots Domain Properties 2010 - 2019 VIP

    Posts:
    4,437
    Likes Received:
    8,713
    I am considering launching a new line of products called PURE and there are soooooo many trademarks and things on that name that inevitably I am going to run into difficulties. Most of that can be eliminated by simply calling my new company PURE(dot)ca and actually make the extension part of the name.

    Owning a great domain has it's advantages and as a domainer I feel I am light years ahead of businesses that launch and then look at getting a domain name.
     
  18. MadAboutDomains

    MadAboutDomains Top Member VIP ★★★★★★★★★★

    Posts:
    2,774
    Likes Received:
    568
    Be careful. Putting the extension as part of the name doesn't necessarily get you out of the woods. You may well be able to register 'Pure.ca' as a trademark or just use it as the name, but it doesn't help it from being trademark infringement if you use the domain Pure.ca for the same or similar goods or services as someone with a registered on the word PURE. Nor does it prevent UDRP or legal action or objection to your trademark, it still contains their entire trademark as in most cases a domain extension doesnt add to its distinctiveness as a mark.

    Generally people add the extension to their trademarks because the term that they want to register is not registrable because it describes their goods and services. For example HOTELS.COM. They will claim no rights to the word HOTELS, but just to the mark as a whole.

    Good luck :)
     
    Last edited: Jan 12, 2019
  19. MapleDots

    MapleDots Domain Properties 2010 - 2019 VIP

    Posts:
    4,437
    Likes Received:
    8,713
    Of course due prudence would be done and trademark lawyers would be consulted.
     
    Last edited: Jan 12, 2019
  20. Want2learn

    Want2learn Top Member VIP

    Posts:
    3,265
    Likes Received:
    2,457
    McDonalds has the Golden Arches, but McDowells has Golden Archs . . .


     
  21. Dave

    Dave Top Member VIP ★★★★★★★★★★

    Posts:
    3,195
    Likes Received:
    2,952
    For those that have known me since my early days here, I used to turn a lot of ideas into websites. I was heavily involved in open source and built many sites early on. I was young and full of ideas.

    What I realised was that nobody ever trusted your site, project or whatever when you had a crappy domain.

    That is what originally got me into domaining.

    Now I stay for the fun of it.
     
  22. Bertrell

    Bertrell Cannabolical Gold Account

    Posts:
    241
    Likes Received:
    777
    Just to add on to what you said about ToughDomains--what they're able to provide does make life easier, in terms of what I want to do with the bulk of my domains (thanks @toughdomains!)

    The only difference between us, I think, is I did (and still do) a great deal of site/page-lander creation from scratch. While I do have an IT background, it definitely didn't involve making websites/coding HTML, so that part--I had to learn (and I'm still learning).

    I started out with Weebly and Yola and maintained a few sites along with a blog in the early to mid-2000s. I was dabbling with affiliate marketing, but I never really made any substantial headway with it at that time. Back then, it hadn't occurred to me to try to invest in domains to sell them. I stopped around 2008, and resumed in 2017 (after having gotten better acquainted with HTML and with the idea of selling domains).

    I use multiple markets and registrars, and I try to keep up with deals and special offers as best I can.

    I do know that I've learned A LOT just by paying attention to what goes on here in the forums on this site. Because of that, I wish to say THANK YOU to everyone who participates and contributes--it motivates me to help others when the opportunities arise, and that's a great environment to be a part of.

    Whatever it is I'm doing with domain names--it allows me to channel some creativity on a regular basis. Buying is ok, selling is great and renewals can be a headache sometimes.

    Once more: Whatever it is I'm doing with domain names--I'm still having fun with it! :happy:
     
  23. mitok

    mitok Top Member VIP ★★★★★★★★★★

    Posts:
    2,560
    Likes Received:
    759
    Why domaining?

    Because I dont have to wear a *ucking tie anymore neither I have to go to work when I am not in a mood to work! No more "working meetings", no more monthly and annual plans, no more traffic jams because I am not crazy to go out during the rush hours now, no more extra-time at work, no more pretending you like the board of directors, no more only 2-3 weeks of vacation during summer when I can take 2-3 months now, no more getting up from bed if I did not get enough of sleep, I can work from anywhere where I can access the Internet including the beach, park etc... I can be binging Nat Geo documentaries all night if I like as I will not be sleepy the next day as I dont own an alarm watch anymore! ;)

    Since 2011 domaining is my main job. However, its hard to say I am a full-time domainer as from the beginning of the last World Cup (football/soccer) in June 2018 I am almost constantly on vacation and only these days I am starting my engines again :) You cant be so lazy when you are in corporate world.

    Did I mention that I am making more money now compared with the time when the tie was struggling me every day and when I was sleepy and tired every day?

    Well, thats why domaining! :)

    Of course, domaining is a job (or at least a proper domaining), but the best job in the world!

    Thank you domaining for enslaving me from corporate world and from being a slave. Domaining is freedom!
     
  24. wesley sweatman

    wesley sweatman durfer Gold Account VIP

    Posts:
    2,762
    Likes Received:
    4,284
    its simply neat having something in the world that there is only one of, ok two things, thumbprints. lol.
     
  25. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP

    Posts:
    2,913
    Likes Received:
    6,074
    Thanks @Want2learn for starting one of the more interesting threads over last few days. I must also say that your post, especially the part I quoted above, captures exactly why I have found this an interesting new passion in retirement (held a few domains in earlier decades, but only really got into it last two years).

    Just to expand on my personal perspective, I like that following the domain world also takes me on a route through the most interesting developing ideas in technology, social trends, marketing, investment and other areas.

    While I have never been a professional communicator, it has been a critical part of all of my career. I see effective domain names, like you, as a key part of effective communication, an organization sharing their authentic story.

    Numbers. I suspect that I would not be as passionate about domains, well I know I would not, if it were not for the NameBio database. I love testing hunches, looking for evidence, and trends. Thank you @Michael for giving our community such an incredible tool, now even better with the subscription options.

    People. In a DNW interview when @Michael Cyger was asked to reflect back on his time in domaining, the first thing he mentioned was the great people. I so look forward to meeting some of them in person at NamesCon this year (my first domain conference!).

    Anyway, thank you for a superb idea for a thread. Have a nice day everyone.

    Bob
     

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!

Share This Page

  1. NamePros uses cookies and similar technologies. By using this site, you are agreeing to our privacy policy, terms, and use of cookies.
    Dismiss Notice
Loading...