alert The fund can't be withdrawal from Epik.com via Masterbucks wallet

[enamebroker]

It happened on 23rd Aug 2022 and this matter lasted almost one month without any process. Masterbucks.com declined my fund withdrawal and disabled the button of fund withdrawal. And I contacted Epik.com and got no further action even if Rob Monster got involved in it for two weeks. All the time I was told in email by management review.

What is wrong with Epik.com? Do you think it is normal to disable fund withdrawal? How can I get back my fund from Epik.com? Thanks for your suggestion.

 

[jberryhill]

The idiots admit they kept the 'old' management on....but they have nothing to do with 'old' epik...LOL!

No one pours new wine into old wineskins. Otherwise, the new wine will burst the skins; the wine will run out and the wineskins will be ruined.

 

[bmugford]

Another satisfied @Epik Domains customer...

 

[jberryhill]

While the loss rate is consistent as a raw number, it is an increasing proportion of domains under management.

I don't know if this was noticed or mentioned before, but it looks like Epik may have run into an AGP Limit Policy issue in June.


https://www.icann.org/resources/pages/agp-policy-2008-12-17-en


The Add Grace Period ("AGP") shall be restricted for any gTLD Operator (hereinafter referred to as "Operator") that has implemented an AGP. Specifically, for each Operator:

The Add Grace Period ("AGP") shall be restricted for any gTLD Operator (hereinafter referred to as "Operator") that has implemented an AGP. Specifically, for each Operator:

a. During any given month, an Operator shall not offer any refund to an ICANN-accredited registrar (hereinafter referred to as "Registrar") for any domain names deleted during the AGP that exceed (i) 10% of that Registrar's net new registrations (calculated as the total number of net adds of one-year through ten-year registrations as defined in the monthly reporting requirement of Operator Agreements) in that month, or (ii) fifty (50) domain names, whichever is greater, unless an exemption has been granted by an Operator.

b. A Registrar may seek an exemption from an Operator from the application of such restrictions in a specific month, upon the documented showing of extraordinary circumstances. For any Registrar requesting such an exemption, the Registrar must confirm in writing to the Operator how, at the time the names were deleted, these extraordinary circumstances were not known, reasonably could not have been known, and were outside the Registrar's control. Acceptance of any exemption will be at the sole and reasonable discretion of the Operator, however "extraordinary circumstances" which reoccur regularly for the same Registrar will not be deemed extraordinary.

c. In addition to all other reporting requirements to ICANN, each Operator shall identify each Registrar that has sought an exemption, along with a brief descriptive identification of the type of extraordinary circumstance and the action, approval or denial that was taken by the Operator.

--------

But you can clearly see what a wonderful job Brian Royce has done in turning the Epik ship around, lol.

 

[bmugford]

Did Epik purge their Twitter account?

 

[sharfab]

Did Epik purge their Twitter account?

Show attachment 248498

Good Observation

 

[Reallybigidea.com]

Did Epik purge their Twitter account?

Show attachment 248498

Whats going on?

 

[Derek Peterson]

Did Epik purge their Twitter account?

Show attachment 248498

Probably just gonna stick with this one only. https://twitter.com/EpikLLC

 

[Derek Peterson]

Show attachment 248496

While the loss rate is consistent as a raw number, it is an increasing proportion of domains under management.

Show attachment 248497

I don't know if this was noticed or mentioned before, but it looks like Epik may have run into an AGP Limit Policy issue in June.


https://www.icann.org/resources/pages/agp-policy-2008-12-17-en


The Add Grace Period ("AGP") shall be restricted for any gTLD Operator (hereinafter referred to as "Operator") that has implemented an AGP. Specifically, for each Operator:

The Add Grace Period ("AGP") shall be restricted for any gTLD Operator (hereinafter referred to as "Operator") that has implemented an AGP. Specifically, for each Operator:

a. During any given month, an Operator shall not offer any refund to an ICANN-accredited registrar (hereinafter referred to as "Registrar") for any domain names deleted during the AGP that exceed (i) 10% of that Registrar's net new registrations (calculated as the total number of net adds of one-year through ten-year registrations as defined in the monthly reporting requirement of Operator Agreements) in that month, or (ii) fifty (50) domain names, whichever is greater, unless an exemption has been granted by an Operator.

b. A Registrar may seek an exemption from an Operator from the application of such restrictions in a specific month, upon the documented showing of extraordinary circumstances. For any Registrar requesting such an exemption, the Registrar must confirm in writing to the Operator how, at the time the names were deleted, these extraordinary circumstances were not known, reasonably could not have been known, and were outside the Registrar's control. Acceptance of any exemption will be at the sole and reasonable discretion of the Operator, however "extraordinary circumstances" which reoccur regularly for the same Registrar will not be deemed extraordinary.

c. In addition to all other reporting requirements to ICANN, each Operator shall identify each Registrar that has sought an exemption, along with a brief descriptive identification of the type of extraordinary circumstance and the action, approval or denial that was taken by the Operator.

--------

But you can clearly see what a wonderful job Brian Royce has done in turning the Epik ship around, lol.

So, assuming the trend continues, their actual, current DUM count is around 250,000. Just 90 more days of this and they will be under 100k.

 

[jmcc]

Show attachment 248496

While the loss rate is consistent as a raw number, it is an increasing proportion of domains under management.

There is a consistency developing in the rate of loss. That is a very worrying trend because the monthly net loss, if sustained, would give Epik approximately nine months. The ICANN registrar data is delayed by three months for contractual reasons. The August, September and October figures are still to be published.

Traditionally, the summer months are always slower in terms of registrations than those in the first quarter and last quarter of the year. The .COM generally spikes around April and then almost goes off a cliff with the upward trend resuming in September. The last year or so has been extremely tough for .COM and it has effectively plateaued. It may be due to the Chinese market declining. The problem with a lot of registrars in that market is that their first renewal rate is not as strong as those registrars in other markets. The first renewal rate for .COM had been about 55% on a good month. It has been around 50% for some time now. Twenty years ago, it was around 72%. The fees were much lower then.

Epik's problems may not be completely related to the overall market trend which is one of the harshest for decades. It has not got new registrations and inbound transfers up to a level to replace the deletions and outbound transfers.

In a tough market, Epik's low price model turns into a massive liability because it is the larger registrars who have, until now, been charging more than Epik for registrations and renewals that have the most leeway to change prices in order to retain registrations or gain transfers. Registrars, like Epik, that focused on low prices now find themselves having to compete with these larger registrars.

The effects of prices rises (September) on already speculative registrations would be expected to lead to more deletions when the domain names could not be flipped within a year. There has already been a spike in .NET registrations that suggests a discounting offer by the registry. It will probably show up in the September 2023 ICANN stats. If Verisign starts some larger discounting/rebate offers in .COM, Epik is not well placed to benefit because its number of new registrations each month is low.

Epik needed to get its deletions and outbound transfers under control. It has not. The lower new registrations and and inbound transfers numbers would be sustainable if the deletions and outbound transfers were much lower. At the moment, it is just bleeding registrations at an unsustainable rate. Without dealing with these problems and if those net losses continue at the same rate, it could, at best, end up as a sub-100K registrar by March 2024. It simply has to get those net losses under control.

Regards...jmcc

 

[Mister Funsky]

There is a consistency developing in the rate of loss. That is a very worrying trend because the monthly net loss, if sustained, would give Epik approximately nine months. The ICANN registrar data is delayed by three months for contractual reasons. The August, September and October figures are still to be published.

Traditionally, the summer months are always slower in terms of registrations than those in the first quarter and last quarter of the year. The .COM generally spikes around April and then almost goes off a cliff with the upward trend resuming in September. The last year or so has been extremely tough for .COM and it has effectively plateaued. It may be due to the Chinese market declining. The problem with a lot of registrars in that market is that their first renewal rate is not as strong as those registrars in other markets. The first renewal rate for .COM had been about 55% on a good month. It has been around 50% for some time now. Twenty years ago, it was around 72%. The fees were much lower then.

Epik's problems may not be completely related to the overall market trend which is one of the harshest for decades. It has not got new registrations and inbound transfers up to a level to replace the deletions and outbound transfers.

In a tough market, Epik's low price model turns into a massive liability because it is the larger registrars who have, until now, been charging more than Epik for registrations and renewals that have the most leeway to change prices in order to retain registrations or gain transfers. Registrars, like Epik, that focused on low prices now find themselves having to compete with these larger registrars.

The effects of prices rises (September) on already speculative registrations would be expected to lead to more deletions when the domain names could not be flipped within a year. There has already been a spike in .NET registrations that suggests a discounting offer by the registry. It will probably show up in the September 2023 ICANN stats. If Verisign starts some larger discounting/rebate offers in .COM, Epik is not well placed to benefit because its number of new registrations each month is low.

Epik needed to get its deletions and outbound transfers under control. It has not. The lower new registrations and and inbound transfers numbers would be sustainable if the deletions and outbound transfers were much lower. At the moment, it is just bleeding registrations at an unsustainable rate. Without dealing with these problems and if those net losses continue at the same rate, it could, at best, end up as a sub-100K registrar by March 2024. It simply has to get those net losses under control.

Regards...jmcc

Thank you for taking the time to post...your information and analyzations are much appreciated.

My contribution to the declining numbers, in an effort to cleanse myself of Epik, in the recent past and near future will be 500+ names...more will follow in January.

I've given the clowns involved (old Epik, New Epik) time to give me my money...I even gave them the option to put the funds into In Store Credit...they are so ignorant it was an option they failed to take.

 

[bmugford]

Probably just gonna stick with this one only. https://twitter.com/EpikLLC

The good news is an archive of many of their tweets can be found in this thread.

This includes gems like Epik threatening to file a lawsuit against their own Chairman and majority shareholder.

 

[NameInbox]

Hey,
Yep, I'm crazy, who didn't know it before

I'm running a liquidation sale of my portfolio, so just trying all website even NameLiquidate/Epik
Today I reg there, they asked to create Epik account, I did so, but there is no "Selling" button

NameLiquidate dosen't works anymore for new users/or at all ???


p.s. also KYC looks dead

Also I find it here

but it's empty

 

[branding]

Hey,
Yep, I'm crazy, who didn't know it before

I'm running a liquidation sale of my portfolio, so just trying all website even NameLiquidate/Epik
Today I reg there, they asked to create Epik account, I did so, but there is no "Selling" button

NameLiquidate dosen't works anymore for new users/or at all ???


p.s. also KYC looks dead
Show attachment 248578

Also I find it here
Show attachment 248579
but it's empty
Show attachment 248580

Looks like they're now using it to sell expired domains only. I checked and the liquidate option has been removed from the panel.

Someone could probably run a quick scan on all domains listed to confirm.

 

[bmugford]

Looks like they're now using it to sell expired domains only. I checked and the liquidate option has been removed from the panel.

Someone could probably run a quick scan on all domains listed to confirm.

That seems to be correct.

I scanned the 1,480 .COM listed.

Every domain is registered at Epik.

Every domain shows an expiration date between 9/27 - 10/3.

Brad

 

[domainicate]

Hey,
Yep, I'm crazy, who didn't know it before

I'm running a liquidation sale of my portfolio, so just trying all website even NameLiquidate/Epik
Today I reg there, they asked to create Epik account, I did so, but there is no "Selling" button

Yes, I confirmed via chat that they are only using NameLiquidate for expired Epik domains - with no way for a user to add their own - when I was trying to liquidate some of the names I had there. I really liked that platform and picked a few nice flips there. So sorry to see it go away.

 

[NameInbox]

Thanks, as I see it's not a destiny to me to have a deal with Epik

 

[bmugford]

That seems to be correct.

I scanned the 1,480 .COM listed.

Every domain is registered at Epik.

Every domain shows an expiration date between 9/27 - 10/3.

Brad

Looking at NameLiquidate.com, the lowest price is now $80. It appears that is the new floor price.

It seems like a pretty stupid decision from a company that is rapidly losing registrations to raise the floor price.

They are going to sell WAY less domains for $80 than $9, or whatever it used to be.

It will just expedite the losses.

Brad

 

[branding]

Looking at NameLiquidate.com, the lowest price is now $80. It appears that is the new floor price.

It seems like a pretty stupid decision from a company that is rapidly losing registrations to raise the floor price.

They are going to sell WAY less domains for $80 than $9, or whatever it used to be.

It will just expedite the losses.

Brad

I spotted some below that earlier this week. Bottom price I watched and was notified about was $50. $9 liquidations seem to be nonexistent.

 

[Arch]

Looking at NameLiquidate.com, the lowest price is now $80. It appears that is the new floor price.

It seems like a pretty stupid decision from a company that is rapidly losing registrations to raise the floor price.

They are going to sell WAY less domains for $80 than $9, or whatever it used to be.

It will just expedite the losses.

Brad

And drink.express should not be $927.

 

[Mister Funsky]

It seems like a pretty stupid decision from a company that is rapidly losing registrations to raise the floor price.

Agreed. December 31st might be a deadline of some sort...maybe not...this move (raising min to 80) will likely yield few buys.

 

[NameInbox]

Hey one more, I just can't dont share this

 

[NicTraders]

And drink.express should not be $927.

Show attachment 248637

You need to understand how the platform works. It's a reverse auction. The price drops continually until it reaches $9 (unless they have set a higher reserve).

There is no new $80 floor price. That would have just been where the auction was at when Brad checked. Currently there are auctions at $62:

I haven't used the platform in a fair while, but unless there has been a major change that price will keep falling until it reaches $9 with an hour to go.

 

[NicTraders]

With that said, there does seem to be a problem with the platform. I placed a bid on a domain so I could see if it got to $9. Instead, I got this error:

 

[internext]

I'm pretty certain the floor is $15 now. That's the lowest I have seen recently. Doesn't matter - I don't want to buy a name there and have to keep it at epik for 60 days. I got all my names out of there and I don't want anything back in there again even if I miss out on a good deal as a result

 

[bmugford]

I haven't used the platform in a fair while, but unless there has been a major change that price will keep falling until it reaches $9 with an hour to go.

Has anyone seen a price even close to $9 recently?

Right now the lowest price is $62 with 3,100+ domains listed.

There is a massive gap between $9 and $62.

Surely some domains expired a day earlier. If the price continues to drop, where are those domains?

Brad