discuss Regarding Rick's quote

[HotKey]

'Domains will go up faster in value than any other commodity ever known to mankind.'

Awesome quote from a smart businessman with the foresight to understand where domain names were headed back in the 90's.

What I'm wondering is, its 2018, bitcoin/crypto is all the rage. Now, it's not like crypto and domain names are related, one does not have much to do with the other. But in terms of commodities rising in value, if we were to replace the word "Domains" with say "Bitcoin" or "Crypto", does the statement still ring true? Is there a way to compare the speed+raise-in-value with domains versus BTC? Is crypto even considered a commodity yet?

IMO domain names we need, crypto we do not. It is just a currency choice, but not neccesary. Perhaps it will be in the future. But if there is a belief that BTC is a commodity or headed to be one, than we can go about comparing rise in value. For example:

Hand-register a 1 word .com in the 90's, sells for 7 figures in X amount of time.
vs
Invest in BTC in the early days for pennies, and in X amount of time worth 5 figures.

Another thing to consider about Ricks quote is that domains value DO go up, always, whereas crypto fluctuates back and forth like tides on a beach. Is this fluctuation its Achilles heel, where its rise in value can never be compared to that of domains?

 

[Andrew Knox]

I'm not sure that anything goes up in value always. I sold a name for a loss to start the year (not even counting listing fees, commissions, etc).

 

[lambo.com]

This is in reference to a few domain names that most here will never own, also at a moment in the past. No point in applying it to domains in general.

Domain names have a near endless supply and a comparitively tiny, tiny demand.

Cryptocurrencies are a much bigger deal than domain names.

 

[comati]

'Domains will go up faster in value than any other commodity ever known to mankind.'

first of all that statement is not true, the majority of names are worthless and will always be worthless.
rick has good domains, that's the key.

cryptos are more related with successful websites than premium domains, there is no intrinsic value
to bitcoin like there is no intrinsic value to airbnb or uber ... it's valuable because people use it.

 

[RobM]

...except airbnb and uber provide a service.... an actual tangible thing at the other side of a payment... not hope and speculation. One is valuable because it provides a service, the other is valuable because people say it is valuable.

 

[comati]

...except airbnb and uber provide a service.... an actual tangible thing at the other side of a payment... not hope and speculation.

for thousands of years people have paid lump sums of money for hope
providing hope may be one of the most lucrative business there is

 

[Altoz]

I love Uber, but unfortunately Uber is becoming illegal in many countries as official taxi tiefs are against the Uber and fighting like hell (I am in CZ-Prague). AirBnB is matter of time when the governments will go after that, as operators are not paying taxes (to bad).