news Mike Mann just sold CryptoWorld.com for....

[Michael M]

Mike Mann has just sold CryptoWorld.com for $194,888.

What are your thoughts on the price?

 

[wwwweb]

All good points, Another thing to add is most big sales are kept private.

 

[Domainsfordays]

I think what is throwing your methodology off is that in reality there are many factors affecting domain value which can not be loaded into a mathematical equation. This is why automated appraisal services will never be right.

-Trends change, and sometimes an outlier is a signal for/of a trend change. But math based off previous sales could not reveal this. Only the knowledge of the emerging market could.

-An outlier can easily be a matter of how well the words work together and how desirable that combination is.

-Good domains with high prices don't sell often, so your dataset is not complete enough to draw accurate conclusions. Good domains will almost always appear as outliers if you view it the way you do.

-Many high priced domain sales go unreported. This will limit your dataset as well.

-Also keep in mind the early crypto investors have all made a lot of money from the massive increase in prices across the board in recent times. This puts them in the top tier of buyers with the deepest pockets. Also many can detach themselves from the USD cost of the domain and look at it in BTC and it will look much cheaper to them.

It's not "throwing off my formula", that's what I was doing. The formula was that it was highly rare

I think what is throwing your methodology off is that in reality there are many factors affecting domain value which can not be loaded into a mathematical equation. This is why automated appraisal services will never be right.

-Trends change, and sometimes an outlier is a signal for/of a trend change. But math based off previous sales could not reveal this. Only the knowledge of the emerging market could.

-An outlier can easily be a matter of how well the words work together and how desirable that combination is.

-Good domains with high prices don't sell often, so your dataset is not complete enough to draw accurate conclusions. Good domains will almost always appear as outliers if you view it the way you do.

-Many high priced domain sales go unreported. This will limit your dataset as well.

-Also keep in mind the early crypto investors have all made a lot of money from the massive increase in prices across the board in recent times. This puts them in the top tier of buyers with the deepest pockets. Also many can detach themselves from the USD cost of the domain and look at it in BTC and it will look much cheaper to them.

Well the "formula" is not off since describing what happened IS what it's doing. Happening very rarely is what I mean by "3rd standard deviation" sale. It doesn't make much sense to say that because this DID happen, that it happens often. That's not logical, it's an ignorant argument at best. What I am saying is that seeing such a vague and poorly branded (poor @ $195000) domain is extremely uncommon. To the people making a comparison between "My world" and "cypto world", it doesn't translate over (It's a hastly generalazation). Domain end sales are about brands of course. "MyWorld" was a company that had that as their name that refused to have any other domain. That's not a common occurence relevant to a given name (don't hold your breath that a company wants to buy your boring .com for 195k),and thus not meriting using a case study to uphold a given specific name.

What IS common, is names for 6 figure sales of a more generic presence as we all know. Like CryptocurrencyMining.com for example makes more sense as a 6-figure sale.

 

[Michael M]

It's not "throwing off my formula", that's what I was doing. The formula was that it was highly rare


Well the "formula" is not off since describing what happened IS what it's doing. Happening very rarely is what I mean by "3rd standard deviation" sale. It doesn't make much sense to say that because this DID happen, that it happens often. That's not logical, it's an ignorant argument at best. What I am saying is that seeing such a vague and poorly branded (poor @ $195000) domain is extremely uncommon. To the people making a comparison between "My world" and "cypto world", it doesn't translate over (It's a hastly generalazation). Domain end sales are about brands of course. "MyWorld" was a company that had that as their name that refused to have any other domain. That's not a common occurence relevant to a given name (don't hold your breath that a company wants to buy your boring .com for 195k),and thus not meriting using a case study to uphold a given specific name.

What IS common, is names for 6 figure sales of a more generic presence as we all know. Like CryptocurrencyMining.com for example makes more sense as a 6-figure sale.

I personally would think CryptoWorld would be way more generic than CryptocurrencyMining???

CryptoWorld can encompass the entire segment.

And back to the original discussion - I was basically saying that you will never understand those "outliers", so that is why you are not comprehending this sale. I think your view is too narrow, and there are more variables than you are considering. Not all domains are created equal.

I don't personally see it as an abnormality, but was trying to talk about it as one since you view it that way.

 

[mr-x]

Also, we don't know if the deal was all cash.

 

[Domainsfordays]

I personally would think CryptoWorld would be way more generic than CryptocurrencyMining???

CryptoWorld can encompass the entire segment.

And back to the original discussion - I was basically saying that you will never understand those "outliers", so that is why you are not comprehending this sale. I think your view is too narrow, and there are more variables than you are considering. Not all domains are created equal.

I don't personally see it as an abnormality, but was trying to talk about it as one since you view it that way.

You'd say that "CryptocurrencyMining" was the more generic of the two, not the other way around. Here we use Trademarkability as a proxy. "World" is more arbitrary and thus more trademark-protectable. It's like "Shopper's world" or "Coat world" or "Pet World". Where Cryptocurrency Mining is a specific concept, "world" as a suffix is a watered-down addition with many synonyms as someone else here pointed out before me, like for example "CryptoCafe" "CryptoForum" etc.

I DO comprehend those outliers, so we are perhaps not on the same page here, those outliers ARE what I am speaking of. What I am saying is new that domainers in this space need to understand that they are not going to get $195,000 for similar names. This is classic availability bias. It's like mutual fund companies that position their best 2 funds out of 50. Names like "crypto world" as we have defined here, are finishing their auction (and liquid market prices) at way under 10k and then going sideways for years. I'm worried about (especially younger people) thinking that they can buy something like "CryptoWorld" for $15,000 when they see it, because "hey it sold for $195,000". The greater fool theory is a terrible strategy in domaining, and one that cost domainers millions in losses each year accumulatively.

Let's all remember the truism in domaining here. A name is "worth" whatever someone is willing to pay for it, so it really is about what the LIKELYHOOD of it reaching a given price is on a sliding scale. If CryptoWorld sold for $3,000,000 then it IS worth that unarguably (to say nothing of things like money laundering, combinatory sales etc.) The point is to understand how these self-reported sales are a bad proxy for future earnings of similar names due to hasty generalization.

 

[wwwweb]

Also, we don't know if the deal was all cash.

It’s sedo, it has to be thru their corporate payment structure

 

[platey]

what do all of you see so amazing in selling CryptoWorld for 194k ?
ok, if it is really crypto and not crytpo....
it is hot name now withh all crypto currency craziness

I think the name sold too cheap

But if he invests that amount in to a diversified portfolio of crypto coins etc he may yet have the last laugh if it quadruple 's in value etc which it can easily do and very quickly at times

 

[elevator]

Congrats to MM I hope and wish to make such huge sales as much

 

[-EM-]

you do realize that mm would have sold both the other domains for min half million right?

Now, think about that again and ask yourself why. Please don't reply it as I'm not at all interested.

 

[-EM-]

Hmmmmm,

Ripple
Petrocoin
Bitcoincash
Litecoin
Huobi
Lend Coin
Barter DEX
Big ONE Exchange
Decred.
By gosh, even Parsec Frontiers.

You have any idea what is going on in Crypto World?
It's rather amazing. It really is something else.

Crypto World is an amazing name for right now and the near future at the very least.
Congratulations for certain.

What's the point of listing all those crypto coins?
There is no such crytpo world lol.

 

[JB Lions]

Very true...

That should cover about 25,000 renewals - so that means he only has about 275,000 renewals to worry about this year now.

A lot of people forget about this aspect of managing an insanely large profile of domains.

300,000 domains at (say) $8 a domain = $2,400,000 per year to break even.

All went over in this thread, and pretty much confirmed - https://www.namepros.com/threads/mi...-with-bin-prices.1053164/page-12#post-6502495

 

[campout]

That will cover his renewal fees for a few months.

That will cover his renewal fees for a few months weeks.

FIFY.

 

[New.Life]

I think that the buyer is from Japan. Binance

A few hours before the sale of cryptoworld.com they asked me to sell them my domains

Crypto.Life and Coin.Life

I replied:

Crypto.Life – $39,000 USD

Coin.Life – $4,900 USD

There is still no answer from them.

 

[TC27]

Wild price

 

[rickypham]

Too bad the 2006 buyer didn't HODL!

Please do not remind my hurt

 

[wwwweb]

Please do not remind my hurt

Wait are you saying you are the original owner of CryptoWorld.com ?

 

[rickypham]

Wait are you saying you are the original owner of CryptoWorld.com ?

I'm just kidding, but If I am the original owner - it's really hurt :D

 

[Fuadiansyah]

I think that the buyer is from Japan. Binance

A few hours before the sale of cryptoworld.com they asked me to sell them my domains

Crypto.Life and Coin.Life

I replied:

Crypto.Life – $39,000 USD

Coin.Life – $4,900 USD

There is still no answer from them.

Binance is from China, not Japan...

 

[Bean]

Crypto has made a lot of millionaires these past 10 years, regular people who started out with a few hundred dollars and ended up rich.
The name is definitely very good but not worth 200k IMO, I would put it somewhere in the mid to high 5 figures.
It's just that it's so incredibly easy to spend money you haven't had to work for lol. If I had made 2 million last year from crypto, I could easily impulse buy a 200k name.
The crypto world (ha!) is at a stage where it's ripe with nouveaux riches (non-derogatory), people who won't think twice before giving in to their whims.
Ever-so-shrewd Mike knows this and set his price accordingly .

 

[New.Life]

Binance is from China, not Japan...

I'm very far from cryptocurrency, so for me it's OK if it can be even Antarctica.
But it looks like it's a new part of this company in Japan. Or a new startup / business belonging to this company.

 

[New.Life]

China’s bitcoin barons seek new life in Japan and Hong Kong

https://www.japantimes.co.jp/news/2...s-seek-new-life-japan-hong-kong/#.WmD6wqinGM8

Check registration date:

cryptoworld.jp

Created on: 2017/12/31

 

[New.Life]

JAPANESE CRYPTOCURRENCY EXCHANGE BINANCE BECOMES NO1 IN THE WORLD BY VOLUMES OF TRADING

27 December 2017

https://worldcore.eu/blog/japanese-...ge-binance-becomes-no1-world-volumes-trading/

 

[DomainBarracksRob]

IDK but after i thought all Crypto+ keywords were gone........I got an Idea after looking at yesterdays sales

Calculating .com just sold for $7k

I know bitcoin/crypto calculator sold some place

to my surprise I just REG'D

CryptoCalculating .KING

 

[rickypham]

China’s bitcoin barons seek new life in Japan and Hong Kong

https://www.japantimes.co.jp/news/2...s-seek-new-life-japan-hong-kong/#.WmD6wqinGM8

Check registration date:

cryptoworld.jp

Created on: 2017/12/31

Agree with you, maybe JP

 

[Chris Hydrick]

Not sure if this was already mentioned, or if it's even related to the buyer. Just noting:

or