Unstoppable Domains .crypto

Why buying Libra names is NOT a good idea....

Labeled as information in Niche Domain Discussion started by MrAcidic, Jun 22, 2019.

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  1. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    I might get burned for this, but this is my opinion and if you don't like it well just let me know :xf.smile:

    For anyone on the Libra is a constellation or old Roman weight bandwagon and it is all fine and dandy to register Libra names for resale because it's a generic word you have entirely missed the point.

    You have registered these names to try and sell to companies who will be working in the same space as them, I mean way over 1000 plus registrations within a week AFTER the Facebook announcement.

    Are people are going to plead ignorance to this and say I got this name for a sky mapping project or I am a big fan of Roman weights? Come on, you don't become a multi billion pound company by not aggressively defending your Brand.

    Also Facebook have acquired trademarks which predate their announcement....... just in case you grabbed some names before then.....

    The Korean Intellectual Property Office rejected Facebook's application on the 9th May for Libra as there were already 4 trademarks in use within South Korea.

    "Industries which KIPO cited as being pre-registered include:
    -management of investment portfolios
    -online financial planning service, data tracking of cryptocurrency transactions for accounting surveillance and monitoring agency service
    -online project development management service and support service for others’ startups."

    On top of the above LG also had a trademark for Libra watch which was cited as well.

    "The Libra trademark had also belonged to other companies in the United States, but Facebook acquired the rights to the trademark in the U.S. from those other companies."

    https://thenews.asia/en/2019/06/21/south-koreas-lg-owns-trademark-to-libra-in-korea

    So if Facebook can not Trademark it's own currency name in a country what do think the chances are that any other company working in this space will want to buy these names and face getting sued?

    This does not even include all the Trademarks for Libra in other sectors.......There are 458 active "Libra" trademarks, 61 pending and 372 are inactive according to the WIPO global brand database.

    I am personally glad not to be involved in this space, I did have a day or 2 of thinking about grabbing some names but decided it would not be worth the risks......


    Right, that is my mini rant, lecture, release however you want to see it over.......could do with a beer now.
     
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  2. artstar

    artstar Restricted (85-100%)

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    to much thought over a moot point

    libra is not a tm issue period


    u said:
    So if Facebook can not Trademark it's own currency name in a country what do think the chances are that any other company working in this space will want to buy these names and face getting sued?

    this makes no sense at all. what about a company called libra laundry with a tm ?? would they not have the legal right to sue samsung then since they too use libra and have a tm?

    if fb uses libra do u think they care about a tm issue and fine if they cant tm it in a country? they r so huge they will get away with whatever they want and screw sk tm bs , u think that matters? what matters is JURISDICTION in law.

    so why hasnt the first company to ever tm the word libra sued all the others then??

    libra is a public domain generic word and not like a major corps name like google microsoft or fb itself for example

    people dont let pseudo mixed up legal mumbo jumbo scare u away. it is all bogus rhetoric and fear mongering by people who know zero about such matters.
     
    Last edited: Jun 22, 2019
  3. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    No because Libra Laundry would be registered under a different classification so would not conflict with Samsung or Facebook......

    Before you start mixing Pseudo and Legal Mumbo, go and look up all the different classes of Tm's and then you begin to see what that means for people registering "Libra" names .....

    The below is contradictory, you are saying they will not care about any TM issue then you are saying all that matters is Jurisdictional law?

    "if fb uses libra do u think they care about a tm issue and fine if they cant tm it in a country? they r so huge they will get away with whatever they want and screw sk tm bs , u think that matters? what matters is JURISDICTION in law."

    Of course they care, why else would they apply for the TM in South Korea and why else do you think they have they acquired all those Trademarks in the USA?

    To protect their Brand.................
     
  4. artstar

    artstar Restricted (85-100%)

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    alrighty then matlock
     
  5. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    If you have any valid, constructive points to raise then share them. I don't mind spending time with people who disagree with me or I disagree with as we can learn from this.

    If all you have is short dismissive one liners use them elsewhere as it's a waste of both our time.......
     
  6. onni

    onni Domainer VIP

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    The main reason not to buy any domain related to Facebook crypto is the fact that it will be a huge failure. Facebook’s block chain tech was stolen from the Hedera network. The whole purpose of this blockchain is decentralization. Facebook owning its own decentralized blockchain is a complete oxymoron.
     
  7. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    My understanding is that it is not even fully decentralized......nice point on the Hedera network.....will take a look into that

    Still does not takeaway from any potential TM issues, but interesting all the same.
     
  8. Brands.International

    Brands.International formerly lolwarrior Gold Account VIP

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    @artstar but he has figured that correctly - he is absolutely right when it comes to TM classes (very interesting subject, every domainer should learn about that).

    Now "that it all depends on jurisdiction" - try to google what "in rem judrisdiction" means when it comes to domain names, and how it affect domain names when someone is seriously going to sue (so not only funny stuff like UDRP is, but actual expensive lawsuit, with awarded damages).

    So imagine you have nice domain name in this category, and will get C&D letter from large international law company, informing you about in rem action towards you and your domain name...will you laught at them, too?

    This can be very expensive approach, imo :)
     
  9. karmaco

    karmaco Top Member VIP

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    A day late and some dollars short, all good Libra names are registered so no point discussing. The people who had names for years or decades before the announcement are fine. I only bought 4 and they are regarding the astrological sign 😏 Facebook doesn’t own the damn word.

    If people wasted their money oh well— that happens all the time in this industry.
     
  10. artstar

    artstar Restricted (85-100%)

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    yea they are all taken, nothing to see here, move on u r too late, u missed the boat, u r late for lunch,lol
     
  11. karmaco

    karmaco Top Member VIP

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    I have moved on. Not sure the point of a post regarding this matter after the fact. You just like to stir the pot and the OP is I guess trying to scare people into relinquishing their names?
     
  12. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    Still worth discussing, as a lot of people have registered purely to profit within a niche that is highly trademarked......

    So if you have 4 names purely for "Astrological" purposes you should be OK.......

    For all those that have names years & decades prior to any TM then all good......

    But if you own recent names that are targeting sectors that have TM's in them, you are trouble.....imo
     
    Last edited: Jun 22, 2019
  13. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    Read my original post....I thought about it and decided not to make any moves in this area because of the reasons stated.....
     
  14. HSNZ

    HSNZ Established Member

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    Id rather get paid in weed than libra lol.
    Best of luck tho boys/girls in the libra game.
     
  15. tonyk2000

    tonyk2000 Top Member VIP ★★★★★★★★★★

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    A registrant of any libra-related domain acquired before the FB announcement is probably safe. He should make sure that the domain is also used in good faith. For example, parking it with instantly generated ppc ads may not be good idea, as such ads may include ads referring to TM owner.

    A registrant of any libra-related domain acquired after the FB announcement, especially if the domain somehow implies money/crypo etc., is not safe. This should be obvious. First, UDRP. Second, american anti-cybersquatting act.

    The last but not the least, spending $$$ on any TM related domains (or on any domain where the number of potential endusers is seriously limited by one reason or another) is never a good idea. Registering libra. What for - to sell it to facebook? Or to related business? Facebook will not buy. Serious related businesses (such as crypto wallets, exchangers, etc), if they are in their sane mind, would not incorporate the term libra in their branding - because this particular term is trademarked. Parking? It is dead already. So, why bother?

    And, since it is facebook, common sense prompts that their libra would be another failure. Does general public need one more crypto? Somewhat similar to new gtld "innovative" icann program...

    https://www.reddit.com/r/AntiFacebook/
    https://en.wikipedia.org/wiki/Criticism_of_Facebook
    "quit facebook" number of search results: About 274,000,000
    etc, etc, etc.
     
    Last edited: Jun 22, 2019
  16. wormfood

    wormfood ---- Gold Account VIP

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    how many good libra domains could there really be
     
  17. NextGen Brand

    NextGen Brand Upgraded Member Gold Account VIP

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    Well LibraFacebook & FacebookLibra (.com) are both taken so that's two great domains no longer available(n):facepalm::ROFL:
     
  18. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    There is 1 area where I would like to know more.....

    When FB acquired these Trademarks from other U.S companies does that mean the original TM date is still applicable?

    So when they bought a TM that potentially covered the Crypto space pre-announcement would they still be protected from any registrations from the date of the original TM they purchased?
     
  19. tonyk2000

    tonyk2000 Top Member VIP ★★★★★★★★★★

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    Changing registered owner of a TM does not change TM registration date. Actually it is a routine, and happens frequently with different TMs. What is more relevant is: were classes or services covered by the TM changed, and, if so, before or after the "similar" domain was acquired by its current owner...
     
  20. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    Brilliant, that clears up a lot of questions I had - Thanks
     
  21. z4z4o

    z4z4o Established Member

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    Forgive me if I'm wrong, but the only actual trademark that Facebook owns relates to a company they bought called Libra that handles taxes and financial crypto auditing, which is unrelated to the open source currency managed by the Libra Foundation of which Facebook is only one member of.

    The LG/South Korea trademark attempt was also in the realm of finance and crypto related auditing? The only trademarks I have seen made by the Libra Foundation themselves were very recent and iirc not even reviewed yet let alone approved?
     
    Last edited: Jun 22, 2019
  22. tonyk2000

    tonyk2000 Top Member VIP ★★★★★★★★★★

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    An aspects of domain name space, fb can always refer to libra as unregistered tm, if they so wish. It would still be TM for lets say UDRP purposes.
     
  23. NextGen Brand

    NextGen Brand Upgraded Member Gold Account VIP

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    The simple fact is anything with the word libra that is paired with a keyword related to the crypto/financial industry is probably something no legitimate company is going to want to touch.

    It will almost be similar to a domainer trying to sell a company the domain name "applephone" (.com)

    Apple is a general word but try pairing it with certain tech keywords and it becomes an obvious no no.

    Registering in bad faith is the most obvious problem here.

    I am sure some domains will probably sale. But I do really feel worried for the buyers because it could be the biggest mistake they will ever make.
     
  24. z4z4o

    z4z4o Established Member

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    I think the issue is that currently it seems like it would be more like "bitcoinphone" - if we're discussing the open source currency by the Libra Foundation, which is what most people thought about when registering. If it was relating to Facebook's company Libra e.g. LibraTax.com then obviously it's an issue there, or anything involving Calibra. The two different entities are causing a ton of confusion.

    But in reality you are probably right - despite what the whitepaper and others are saying how it will be "open" across exchanges/integrations etc, can't ever trust a giant group full of multicorps especially ones involving Facebook, even if they call themselves an open organization...
     
    Last edited: Jun 22, 2019
  25. artstar

    artstar Restricted (85-100%)

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    ok so what about the word "bitcoin"? tons of domains sold since it came out so whats the diff? didnt they tm the term as well?if so why are bitcoin domains still selling today? has there been a udrp against a bitcoin domain?
     
    Last edited: Jun 22, 2019

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