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(New Trends) Are you stuck in the past, or ready for the modern domain world?

Labeled as discuss in General Domain Discussion started by ~ The 34 Year Buzz!!, Nov 9, 2018 at 1:08 AM.

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  1. ~ The 34 Year Buzz!!

    ~ The 34 Year Buzz!! Established Member ★★★★★★★★★★

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    (A "General Topic"?) related to domain names
    Are you stuck in the past or ready for the modern domain world?

    Standard Question:
    If a domain name sells for $500K USD (for example) through an escrow and Bitcoin is used for payment, should standard domain industry sources (dnjournal) report the sale price as one of the biggest of the year?


    Advanced Question: Do you know ICO credits are commonly treated like real money(!) even though, prior to the ICO being funded, it is "completely fake money" baked only by the strength, promises, slick videos, and statements of the companies? If a company buys/trades $2M in ICO Credits for your domain would you want/expect the huge news to be reported in dnjournal?
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. NYJimbo

    NYJimbo Domain Re-Animator

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    I don't see what the payment method has to do with anything. If the value is $500k USD, you can convert it to whatever instrument you want and that doesnt change the value of the sale.

    Likewise, if I sold a domain for $500k usd, I would NEVER accept crypto as payment. Because first thing I would do would be to convert it back to usd and get the hell away from the crypto before the unpredictable price swing.

    $500k in crypto is too risky to hold and too messy to move around.

    btw - Are you saying payments in crypto somehow makes domaining "modern" ?
     
    Last edited: Nov 9, 2018 at 1:37 AM
  3. ~ The 34 Year Buzz!!

    ~ The 34 Year Buzz!! Established Member ★★★★★★★★★★

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    True for many, but...
    "This is Fun"
    If the most you can realistically make next year in "dirty old money" is ~$43K, and you can make over $1,000,000 in crypto (including much of that related to "Modern Domaining"), then the "risk" starts to look like a lot of Fun.


    No.
    Not Domaining .....Domainers

    In the next 5 years, for example who is more likely to have huge success with domains?

    Old school domainers (no matter what age) who are not tuned in, or...
    "Next Generation", more open-minded people who are (at least occasionally) looking at the list of "Top 100" Bitcoin related projects?


    There are many similarities between the Web 1.0/ .com Bubble and BTC/ ICO Mania, have you noticed?
     
    Last edited: Nov 9, 2018 at 2:48 AM
  4. E-Promote

    E-Promote Active Member VIP ★★★★★★★★★★

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    Be careful of equating risk with fun or you won't be in the investment game for long.
     
  5. ~ The 34 Year Buzz!!

    ~ The 34 Year Buzz!! Established Member ★★★★★★★★★★

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    Clear communication is sometimes hard for me:
    If you are actually set to make over $1M vs. ~$43K, then that is FUN.
     
  6. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    Maybe something established that can be easily converted into regular currency should count, like bitcoin.
    Even then it would be pretty hard to track.

    ICO stuff I would not count. The vast majority of ICO are just pump and dump schemes and the currency ends up worthless.

    Brad
     
    Last edited: Nov 9, 2018 at 6:27 AM
  7. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    Where did the $43K number come from? I know many people who make far more than that a year with domains.

    People can also lose an unlimited amount in crypto. Ask all the people who got in when Bitcoin was at near $20K and got loans to buy it. I wonder how that worked out.

    Brad
     
  8. ~ The 34 Year Buzz!!

    ~ The 34 Year Buzz!! Established Member ★★★★★★★★★★

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    Hi Brad,
    Are you stuck in the past or ready for the modern domain world?
    How does recognizing huge opportunities to develop domains, related to one of the biggest things in the modern world, relate to the idiocy of buying Bitcoin at $20K?


    Agreed
     
    Last edited: Nov 9, 2018 at 6:32 AM
  9. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    I don't know you tell me. Where did the $43K number come from?

    Also, investing in anything is not a sure thing. I am pointing out plenty of people have lost lots of money on crypto. It is not some sure thing.

    Brad
     
  10. ~ The 34 Year Buzz!!

    ~ The 34 Year Buzz!! Established Member ★★★★★★★★★★

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    For example:
    If a domain name sells for $500K USD (for example)...
    Then when I mentioned the much lower number (for example), I didn't repeat the previously mentioned (for example)

    Smile :) :xf.smile:


    FYI: Sorry, I do not see the option to edit the OP to be more clear

    Where is the risk in spending time to develop domains related to "something truly historic and huge"
     
  11. wesley sweatman

    wesley sweatman durfer Blue Account VIP

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    yes, yes, but, I would keep $25k of that $500k in to mine more. lol.
     
  12. E-Promote

    E-Promote Active Member VIP ★★★★★★★★★★

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    I understand, but your not "set" until you actually bank the profit. The point is, risk should be calculated risk, something that you only execute after research, study and experience. In reality the best risk taking is usually somewhat boring because you have been there many times before through practice and then experience. Risk taking that gives you a thrill is more closely aligned with gambling, which of course is fun, it just is not a large part of successful investing.
     
  13. ~ The 34 Year Buzz!!

    ~ The 34 Year Buzz!! Established Member ★★★★★★★★★★

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    +1
    Your advice is great.

    FYI (I cannot edit the OP)
    Investing time and effort, + a small amount of money, is not the type of (old school) investing you are giving advice about.
     
  14. E-Promote

    E-Promote Active Member VIP ★★★★★★★★★★

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    If your point is that hand registering a domain or buying one aftermarket is low risk because the costs are so low I would agree. Yes you can spend very little on a name and wait for the huge payday, but that day is unlikely to come. Less risk can be found in daily base hits that can have a great compounding effect with little risk and still leave open the opportunity for an occasional home run.
     

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