NameSilo

The domain name industry is large because most people drawn to it are so stupid.

Labeled as debate in General Domain Discussion, started by Super-Annuation, May 3, 2021

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  1. Super-Annuation

    Super-Annuation Restricted (Market)

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    I've looked at the domain droplists. Many sheets.

    I've looked at the domain name sales data.

    Frankly, 99% of domain activity is embarassing and cause and effect from destitute scrubs.

    Think about this for a second. A human being with a brain genuinely believes they can sell a domain name like 1Coin.xyz for $5,000.

    Stupid. Plain and simple. Dumb. Process of natural selection will likely get the better of people like this.

    Now look at this garbage on tonight at GoDaddy: 35533.com.
    Live and ongoing auction. Current bid at $11,000, 34 bids etc...

    That's a lot of stupid people because this name has zero value. Disagree? Tell me how anyone can successfully use this domain, and justify the price of 11k.

    How about this not even a little bit half decent name: RecoverData.com. Pfffft... What were 295 people thinking when they considered this rubbish tonight? It's on the top of the high bid list.

    I'm being serious. There is no industry with a collective average IQ below the domain name industry. Go to any registrar and look at the top 10 names for exhibit A.

    Okay

    How do you stop people from thinking names like "TreeCentral.com" have value?

    Or how do you buy a quality aged domain that's had several owners meaning it's likely the previous owner sales tactics could have hurt the value of the name?

    Honestly, I don't think it is possible.

    Not ever.

    I think the industry will be full of dead beat loser cavemen thinking they've discovered fire.

    That's why I have been fiercely liquidating. Almost done too.

    So if you agree write it down and shed some light. If you disagree, I'll sell you a name with GoDaddy Appraisal at $10,000 for only 10%.

    Sarcasm. Sorry, I know I had to elaborate...
     
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  2. karmaco

    karmaco Top Contributor VIP

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    You sound very bitter that it didn’t work for YOU. Doesn’t mean the rest of us are in that same boat. Your rant was embarrassing and shows how little you learned in the short time you gave it an attempt. Your attitude is the real problem and domaining is obviously not for you. Move On.
     
  3. DirkS

    DirkS DutchPirates.com VIP

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    I agree with @karmaco . I don't like xyz personally so there's that but the others? If you don't recognize the value in those you're in the wrong kind of business imo.

    Why do you think those are worthless?
     
  4. OhYeah

    OhYeah Upgraded Member Gold Account

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    I get what you're saying, but personally I've probably been pretty similar to these 1Coin.xyz guys, just there was only original tld's at the time I've started out. I believed that I can sell some hand-regged name for millions. However, later I understood the reality. Usually when I see this type of sales, I think "Ah, he's probably just a beginner and needs time to understand it all"
     
  5. noneisnone

    noneisnone 444 VIP Gold Account

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  6. mjbenterprises

    mjbenterprises Established Member ★★★★★★★★★★

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    RecoverData.com is a decent name. It's taken in a lot of extensions, and was first regged in 1996
     
  7. griff

    griff Top Contributor VIP

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    you're right about 35533.com but wrong about RecoverData.com. there is definitely a phenomenon where many domainers will pay 50x more to an auction house than to another domainer, due to fomo/competitiveness or whatever. pretty silly imo, I much prefer the opposite and don't view it as a competition - rather an industry to learn and build.

    you seem pretty emotional and probably view your names in a shining light without being objective about the real value, another big issue in domaining. people overrate their own names, trash others names, and get annoyed when they can't liquidate them. don't be bitter, do better
     
  8. DirkS

    DirkS DutchPirates.com VIP

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    The Global Data Backup and Recovery Market size is expected to reach $12.9 billion by 2023.

    Plenty of opportunity for a good enduser sale.
     
  9. tonyk2000

    tonyk2000 Top Contributor VIP ★★★★★★★★★★

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    Imo, the domain industry is large and/or growing, because:

    - Some folks (and companies) are in business of providing domaining classes, schools etc. How many profitable domainers reached this status because they purchased such a class? Almost zero. Sharing real secrets? Give me a break... Most newcomers are doomed to failure, as a matter of fact, and what we see is a competition for their (limited) initial funding (let them spend their $$$ faster and leave ASAP).

    - As a side effect of their established business practices, so does GoDaddy by distributing by email and/or featuring on the auctions homepage their "top list of expired auction inventory including valuation". Newcomers may (over)pay for the domains with these automated valuations in mind.

    - ICANN introduced nGTLDs. By doing this, they in fact increased the retail value of classic TLDs, and also prevented (or delayed) serious technical innovations (Will our grandchildren use domains? it is far from obvious...). Again, nGTLDs attracted a number of newcomers who were trying to become rich and quickly - also doomed to failure.

    As for auctions, some may be won by newcomers (obviously overpaying) while others are won by professional domainers who know what are they doing. I have no issues with either. Not all auction purchases will find their enduser in foreseeable future, or at all. A few years ago one detailed survey determined that on avg. just ~2% of aftermarket domains change hands each year. Whether a domainer prefers lower number of sales @ higher prices, or higher number of sales @ lower prices, he still may be profitable if he knows what he is doing and why. It is just a question of experience and intuition. Without this, a domainer will end up with unsaleable portfolio - low quality and/or overpriced domains. Which is unfortunately too common these days...
     
    Last edited: May 3, 2021
  10. hawkeye

    hawkeye Top Member PRO VIP ★★★★★★★★★★

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    Well we now know why 'you' were drawn to it. Probably why you're always on restricted basis here too. As for the others of us, the opportunity to get great domains to build out, and sell some for nice ROI were our reasons. Liquidate as fast as you can and move on, you won't be missed. Bye!
     
  11. D Haynes

    D Haynes Top Contributor VIP

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    What percentage of people have to be mad (or of a certain opinion) before the they're the norm and the old norm are mad?
     
  12. johnn

    johnn WeSellName.com PRO VIP ★★★★★★★★★★

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    Don’t get upset. If you want to make money then go with the flow.
     
  13. bmugford

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

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    There is a lot of money wasted on bad registrations in the domain field, without a doubt. All you have to do is look at the daily expiring list. 99% of the domains are worthless when it comes to resale value.

    However, your specific examples I don't think really make sense.

    TreeCentral.com is a solid two word brand with multiple potential uses, one being a nursery.

    RecoverData.com is a quality domain in an extremely high dollar tech field.

    When I ran my own computer repair company we often had to employ the services of large data recovery companies. Some of the invoices were in the tens of thousands range.

    Brad
     
    Last edited: May 3, 2021
  14. ReallyBigIdea.com

    ReallyBigIdea.com Established Member

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    OP, most domainers not marketers not investors neither economists most people in industry have no degree they are just following to the money..they are thinking if the domain has bids its valuable. bidding wars on shilbidding auctions makes richer DropCatch and Godaddy but not these domainers...
     
  15. bmugford

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

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    That is the case in almost any field with a low barrier to entry, unrealistic expectations, and lack of education.

    The domain field is as subjective as pretty much any field that exists. Unless you have the right skills and a solid plan you are likely to fail.

    If you are just chasing auctions others are bidding on, without a plan, you are the greater fool in the greater fool theory.

    Brad
     
    Last edited: May 3, 2021
  16. tonyk2000

    tonyk2000 Top Contributor VIP ★★★★★★★★★★

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    Very true. Actually, current education system is seriously degraded, and it is a problem for younger generations... Which is probably the reason why there are regs (including auction bids!) like (made-up example, not to offend anybody) Kosher Pork dot something. Some folks tend to register domains using languages they do not understand, ending up with stupid domains. So, if a new domainer is a real pro in some field - he might try to start with domains exclusively from this field. He needs to start with something, and it would be a good start (professional domaining can not and should not be limited to any particular field though).
     
    Last edited: May 3, 2021
  17. DanSanchez

    DanSanchez 48hr.com Bitcoin powered auctions Epik.com Staff VIP ★★★★★★★★★★

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    Monetary inflation in the fiat system creates pollution in price discovery, some assets are overvalued and others are undervalued because of it. The bidders at those auctions are likely macro focused on the cycle of domains available for sale there, not deviating at all into other marketplaces, auction houses, or liquidation streams.

    The pollution we are seeing in domains comes from the abundance of fiat capital that is unallocated, dollars are especially prone to losing purchasing power quickly in 2021 from the effects of the 30% rise in monetary inflation in 2020.

    Other assets are being snapped up for pennies with zero competition. Domains are as much an opportunity as they are a liability when part of a portfolio in severe deficit. Paired with limited retail activity, we will see the greatest liquidity crunch in domaining history soon. Hoping I'm wrong, but we have to face the consequences of our overconsumption and under-production.

    In my opinion, this isn't a question about being stupid or dumb, it's about needing to allocate too much capital with a low perception of the risk-on scenario we are entering. Stay liquid.
     
  18. twiki

    twiki Top Contributor VIP Gold Account

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    OP, I have been watching you ever since you started. If I'm correct you also posted some questions on Reddit.

    Anyway.

    You have been mostly registering hand-regs that were somehow appealing to you. Indeed they appeared to be forward-looking. But the problem is that such things must be taken with a LARGE, or HUGE grain of salt. Most of your such ideas will not come to fruition.

    About everything you regged there was waste of money. I even tried to calm you down at some point, but it was perceived as lack of sympathy or whatever feeling that was. Anyway. That never hurt my feelings, but I always did cringe looking at your regs. Because I knew this was coming.

    You have two ways here.

    1) Accept that this isn't for you and move on. It's not a bad thing. Everything that didn't work for us brings new chances for new things that will work. I actually fail at 5 out of 6 businesses I try. But I never stop trying. Got into domaining by pure accident, and discovered right away that I've been born for this. That feeling is indeed something. You feel like a fish in the water. I presume your feelings are opposite right now.

    2). Clear everything on the table and start over. Edit: with domains, but differently. More wisely.

    You did have some funds cause otherwise you could not have regged so much. You can start learning domaining right now. There are sources of good domains, but MOST GOOD DOMAINS ARE PREOWNED. This is why personally I hand reg rarely, but I mostly reg drops, purchase closeouts and also from NP and other sources. You can also find stuff at NameLiquidate and more.

    Again, I believe your situation got to this point because you started doing a ton of handregs. handregs are what most beginners do and they are mostly useless. I listened to all the advice I got from experienced domainers when starting. So I stayed away from handregs. I sold .orgs, and .coms and everything I got at drop for as much or as little I could.

    I made a 15K loss in the first year. The secret? I knew and expected I would make a loss and planned for it. And I had a budget for that. So I learned, improved, rinse and repeat, feedback loop. That's how I got to have one of the fastest, perhaps, growth curve around. I am over 50% in profit and growing 300% per year. now 5-fig in investment and next year 6-fig is planned.

    So it is definitely a choice. Life is always a choice.

    Final note, I know you're bitter but bitterness never helps. So when you can, and feel like, try to get out of it. Either take it or leave it, but anyway, move on. Either renew your domaining, or choose something else. Nobody can tell you what to choose. It's your decision only.

    Either way, sorry you ended up in this point but that is the situation of 98% or so of the ones trying domains. It ain't easy - at all.

    Good luck!

    Edit: I still cringe at 4 out of 5 domains handregged and reported here in the reg of the day thread. Guess I'm not the only one.
     
    Last edited: May 3, 2021
  19. GeorgeK

    GeorgeK Leap.com PRO VIP ★★★★★★★★★★

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  20. gilescoley

    gilescoley Top Member PRO VIP ★★★★★★★★★★

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    This is the issue, you need to research and dont make too many assumptions about NNN, NNNN, NNNN, NNNNN, just because you dont like them or domainers and companies in Europe or the US dont like them doesnt mean they are not valuable. Companies in China like them and thats all that matters when it comes to finding an end-user and making a sale, so I wouldn't be calling people stupid just because you dont see value in the names. Do you think the owner of 35533.com just got lucky with people bidding up to 11K for this name??

    Just a few NNNNN.com sales to companies and there are 100s more that are being used and developed, espeically in China.

    88888.com 245,000 USD
    17176.com 55,000 USD
    10023.com 50,000 USD
    22666.com 46,500 USD
    83333.com 43,000 USD
    88889.com 41,500 USD
    99678.com 40,200 USD
    60666.com 36,250 USD
    70777.com 34,500 USD
    33339.com 32,250 USD


    You first say RecoverData.com is not really a good name, then in the very next sentence you say "There is no industry with a collective average IQ below the domain name industry", the issue is not with the domain industry, its with new domainers who dont research and learn about domain value. Do you think those 295 people are all new domainers who dont understand domain value and want to buy RecoverData.com??
     
  21. Lox

    Lox _____ VIP Gold Account

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    What you really need to acknowledge is;

    Registration

    Each month, spammers/scammers etc register a huge number (more than half million) of domains to avoid takedown or blacklisting and that they often re-use domains previously registered by domainers and end users.

    Auctions

    They'll place a bid/s for the domain.ext qualified for phishing bc there's a chance to fool the ISPs/Honeypot. They can run operation MX / Subdomain A:rec under the radar, even for months.

    Life cycle

    Newly registered domains will be active up to 24 hours and abandoned.
    Old / dropped / re-used domains will be active up to 72 hours and abandoned.

    Honey domains

    I've seen many of *honey* domains have been picked up by domain-flippers without knowing that only after an extended period of inactivity, the domain is recycled.

    So, if you spot something like:

    626974636f6970.ext or 6269746.ext or 36f6970.ext

    This can be interpreted f.e. as a part of bitcoin.com - used by Hexa/Octa etc. decimal trojan


    Regards
     
  22. Kassey Lee

    Kassey Lee China Domains VIP ★★★★★★★★★★

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    As to the value of 5N domains, I'm very puzzled too. I research end users in China almost everyday but I rarely come across a Chinese company operating from a 5N or longer domain, yet they do sell -- and for good money. Up to 4N -- yes, they have definitely applications by end users.
     
  23. HotKey

    HotKey Made in Canada VIP

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    So like, your pissed that the industry is thriving or something? That's kind of messed up.

    While I agree there's plenty headscratcher names selling, you can't control peoples buying decisions nor ever fully understand the rationale behind them.

    Best you can do if you want to see change, is offer something better. Most can recognize a quality domain when they see it. Expired domains will always have a wide spectrum of eyes on them not found elsewhere.

    But to cast the entire industry into a black pit of dispair, well take a look inward and start there.
     
  24. Oskar P

    Oskar P Established Member

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    The quicker you get out the better, it's mostly a waste of time
     
  25. ReallyBigIdea.com

    ReallyBigIdea.com Established Member

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    According my research Chinese business prefer English words in domains and brand names
    E. g. : https://www.leteatgo.com.hk/
    IMG_20210504_130136.png
     

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