Do Domain Names and Bitcoin overlap? Rick thinks yes, Konstantinos thinks no

Last night, legendary domain name investor Rick Schwartz tweeted about how surprised he is that more people don’t see the connection between domain names and Bitcoin. To which, Konstantinos from OnlineDomain.com chimed in to say that he doesn’t see an overlap – just competition for the same dollars.

domains-bitcoin-overlap

The debate continued quite a bit on Twitter with Michael Berkens, another legendary domain name investor and publisher of the popular domain blog TheDomains.com weighed in to share his two cents. Then Andrew Rosner, founder of MediaOptions, a popular domain brokerage firm joined in as the topic changed course to discuss whether it’s okay to write about Bitcoin on a domain blog.

domains-bitcoin-debate

I love Konstantinos, read his blog every day, but in this case I gotta agree with Rick, Mike and Andrew. I think Bitcoin, which is another way to invest in something digital, definitely has a pretty real link to domain names. I also think that people who read domain blogs are very happy to hear more about Bitcoin, gold, real estate, or anything else that they might invest in.

At our core I think we’re all investors, and most Domainers I know are investing in a number of other things, and yes, Bitcoin is definitely a hot topic with existing investors since it does, IMO, hit so close to home. Yes, you can develop domains, park them, etc. but at the end of the day, with both domain names and Bitcoin you’re buying an asset that’s made up of 1’s and 0’s and hoping to sell it for a lot more than you paid for it.

The fact that people like Rick are talking about Bitcoin more and more means that we should be listening. It’s no secret that Rick has been right over and over and over again so love him or hate him it never hurts to listen. As for what we should write about in domain blogs, I’d say anything that’s interesting to people who read domain blogs is fair game…and I know for a fact that people who read domain blogs are pretty interested in Bitcoin right now.

What do you think? Comment and let your voice be heard!

{ 23 comments… add one }

  • R P October 14, 2017, 9:26 pm

    I dont think you know anything about domains tbo. They are not made up of “1” and “0” to the consumer. They are consumer facing marketing assets. BTC does nothing for a business. Its just limited in quantity but has absolutely no value in (1) lowering your marketing costs (2) increasing your brand identity (3) increasing credibility and (4) allowing for an easy repeat visit.

    Ignorance is shocking just as Harvey Weinstein and Hollywood implosion is shocking. Just as Lisa Bloom defending Roy Price and Weinstein after making a name going after sexual predators. Just as no domain blogs comment on Lisa Bloom being the wife of a famous domainer when there is negative press. Only mention positive press.

    What does your company benefactor have to say about Weinstein? Very critical of Trump. But crickets from the billionaire males about Weinstein. Why the silence? Is it because Jeff Bezos’s Amazon Studios is also at the center of sexual predation? How about Cuban? Why the silence from such an outspoken “moralist”?

    The silence is deafening.

    Do domainers ever think for themselves anymore? You guys have to get past this group think.

    Reply
    • yunny October 15, 2017, 3:48 am

      What are you talking about, 10% of Namepros doesn’t know or give a shit about Braden Pollock and certainly doesn’t know his wife.

      Why would Morgan be commenting on Harvey Weinstein and Hollywood? Should every blog comment on every topic? Maybe Morgan can tell us who has the best running shoes or where to get cheap apples and oranges. Nobody cares.

      Reply
    • Morgan October 15, 2017, 6:11 pm

      @RP – sorry, what’s the point you’re trying to make? I’m saying that domains and bitcoin are two examples of investing in something purely digital, made up of 1’s and 0’s, unlike real estate which is physical.

      I’ve always been interested in investing in digital assets. I have some friends that only like physical assets, they like things like real estate and actual physical gold, for them – if they can’t look at it, touch it, hold it in their hands, it’s not as real of an investment.

      I of course am not wired that way, I like investing in 1’s and 0’s. That’s the point I’m making. As for Hollywood, I’m not sure what that has to do with domain names and Bitcoins, seems like you’re taking the conversation in a very different direction.

      Either way, thanks for commenting, I always want to make sure all voices are heard on my blog so hats off to you for taking the time to write such a long comment!

      Reply
  • Don Murray October 14, 2017, 10:21 pm

    In June ICO funding had hit nearly $550 million and it was the first month ever that it surpassed angel and seed VC funding combined. So it is not going anywhere. I,m sure it will hit a billion by year end.

    With a token you have to ask yourself -“What is it going to do for the consumer?” If this can be answered in a way the will help save or make more money for the holder then you may have a winner.

    This is like domain names all over again. You have to filter out the crap ICO/aka token sales just as domainers did years ago with domain names. No difference here. Money$$$ will be made on ICO,s like never before. Picking the correct ones will be the gift. 🙂

    Reply
  • Jonathan October 15, 2017, 4:36 am

    IMO the only link to domain names is the security and payment aspects Bit – Eth are about the inevitable blockchain process/system the main players are technically so far ahead of the game ref private blockchain “Coinbase”nothing left to invest? Bitcion has traction so maybe it will be adopted/incorporated in nation states financial systems ??? I do not see how token miners with treasure maps are relevant without being under the nation state authorized / guarantees pegged to the $ £ Yuan whatever. Best simplest explanation I have seen: https://www.imf.org/en/News/Articles/2017/09/28/sp092917-central-banking-and-fintech-a-brave-new-world

    Reply
  • Joe October 15, 2017, 5:24 am

    All that you write your Bitcoin post is a reason yesterday in Spain to see that Bitcoin have raised $ 5000 on Nasdaq here leave a link. Market Snapshot – Bitcoin Prices Shoot Through $ 5000 – CoinSpectator
    https: //coinspectator.com /…/ market-snapshot-bitcoin-prices-shoot …

    One must take into account the digital currencies that are in the global market is increasing and a domain name of these currencies value price in gold in the market of domains.

    I as an example three months ago to register domains dot-com in these currencies
    this is not future is today the stock markets of the world move what is digital in actions.

    I do not be visionary but when I leave bitcoin register domains in privacy within 10 years because I know how the market reactionary first US and after the rest of the world.

    Now I can enjoy having made a great investment.

    Reply
  • Gene October 15, 2017, 5:32 am

    “I’d say anything that’s interesting to people who read domain blogs is fair game…and I know for a fact that people who read domain blogs are pretty interested in Bitcoin right now.”

    I totally agree, Morgan. Except I would expand your statement to include ETHEREUM.

    Reply
    • Morgan October 15, 2017, 6:13 pm

      @Gene – agreed, I’m a big ETH fan as well.

      Reply
  • JZ October 15, 2017, 5:33 am

    I don’t feel that bitcoin has any relation to domain names other than its an investment but its a hugely different kind of investment. you can’t buy a bitcoin for 10 bucks and convince someone to buy it for 5000. its a set price that anyone can buy the exact same thing at the exact same price (whatever its worth at the moment). its like currency trading or stocks way more than like domains. a domain is unique. bitcoins are not. they are all the same and one is worth the exact same as another.

    Reply
  • Eric Borgos October 15, 2017, 7:57 am

    There are several types of domainers, so I think it is not fair to lump them all together. For example, most domainers don’t buy a domain strictly because they think the domain market will go up. They buy a domain because they think the are getting it at a below market price, like at an expiry auction, or from an end user who is no longer using it. There is skill involved in that (trying to find hidden gems). They also may try to build a site on the domain, or make money from parking it. There is also skill involved in trying to sell it. This is not at all like gold, oil, or Bitcoin where there is a liquid market and you are speculating strictly on the entire market going up or down. So, yes, for the type of domainer who is holding a bunch of domains just as an investment, Bitcoin is similar. But it is also different, in that even investments such as stocks and oil have some basis for the market price (like oil is used as fuel so that has a real value). Some of the price is speculative value, but the majority is not. Most investment level domains have a real value also, in that people actually want to use them. Bitcoin, in contrast, is almost pure speculation. It has many uses, but the how much it is used does not really cause the price to go up or down. It has gone up in price purely due to speculation. That does not mean it will go back down or that it is a bad investment, but domains, gold, etc. all have value based at least partially on how useful they are. Bitcoin is no more useful now than it was 2 years ago, yet it is worth 10 times more now. It is certainly a potential investment for many people to consider, but I consider it somewhat insulting as a domainer, for people to lump it together with domaining. The Bitcoin industry has huge potential, with blockchain technology and ICOs and all sorts of amazing advances, but just the act of buying Bitcoin is not the same as any of that. I have been involved in the cyrptocurrency business, and it feels very similar to the excitement I get from domaining, but in both cases, they are businesses. I don’t consider investing in Bitcoin to be a business anymore than investing in stocks is a business for most people. There is certainly skill involved, but investing skill is not the same as domaining skill. For example, Rick, who has invested a large amount of money in domains, has also shown great skill in picking the right domains to buy and amazing skill in waiting years to find the right buyers and negotiate record breaking sales. I don’t just consider him a domain investor, I consider him a domainer.

    Reply
  • Alan Dodd October 15, 2017, 8:45 am

    There *absolutely* has to be a way of linking *real* premium domains to a startup via some sort of an ethereum or blockchain contract.

    Otherwise even the premium domain owners who do well (and I mean seven figures) will only ever realise a fractal of the domain’s true value.

    The problem seems to be effecting a change in ownership via some block-chain that will never be possible. So trust is required however at least the agreement could be clear in the block-chain that could be legally enforced.

    Reply
  • Dan Gustafson October 15, 2017, 12:52 pm

    The two are unrelated in my opinion. Domains are the equivalent of trademarks and or phone numbers and or mail order catalogues and or digital real estate where you exercise some to significant control of the asset and they are unique. Bitcoin is the digital equivalent of a commodity of equities, bonds, stock market where you have little if any control of the asset and it is not unique. One bitcoin is the same as the next. Domains are not.

    Reply
  • Mark October 15, 2017, 6:13 pm

    Only reason people are talking is because the price has hit an all time high. Remember what goes up must come down and virtual currency can fall much quicker than domains JMO.

    Most of what we’re seeing are chasers not investors. Didn’t hear many domainers talking about this in the blogs a few years ago. 🙂

    Reply
  • Jin October 16, 2017, 11:16 am

    I have to agree with Onlinedomain.com

    1. Can you go and sell your domain name right now at this right minute liquidate ?
    -No, you may have to put on domain forums and beg others to buy it you may need money faster etc where as for bitcoins, you can go to Bitstamps.net and unload your currency and cash it right away with a blink of your eyes.

    2. 3 years ago you may have to spend 100 bitcoins to buy 10,000 $ worth of some premium domain today you have to spend ONLY 2 bitcoins to buy 10,000 $ worth the same domain, where does this equate to domains?

    3. As more apps are coming, and phones and tabs are taking over the users market share of internet, when was the last time you downloaded a app on the phone store and used domain—.com to search the app store???? – OR once you downloaded the app, when was the last time you ever cared to type or use the domain name to access the app on your tablet? – Never.

    4. Domains are like vanity numbers, and as phones dying off (landlines) – they have become thing of the past

    5. Gold is where people feel safe to invest when the inflation or there is so uncertainty in the market, and they can liquidate right away, when are people going to take the money and invest in domains in terms of inflation no logic there.

    6. Domains are good for brand, just like vanity numbers, and its only increase in value as someone see the value. For example myworld.com selling for over a million, where as now some LL.com selling less than 500,000 or closer.

    7. My opinion i dont think it matters alot especially to some domain brokers or some premium domain owners, i dont think domains will keep on going in value in 10 years of time, the fate will be same as vanity numbers, but we will see how it goes.

    So all in all, I AGREE with onlinedomain.com , not with andrew or Rick, everyone is entitled to their opinion, they may have been right in the past, but it does not mean you will always be right in the future.

    Reply
    • Joe October 16, 2017, 1:17 pm

      @Jin I like your comment.

      What do you think about the of digital cash coins be right in the future?

      Reply
  • Jeff Schneider October 20, 2017, 1:59 pm

    The Bitcoin/BlockChain Fad comes at a time when people are throwing money at fundamental gambling ploys. We are warning Domainers and our clients STEER CLEAR! We may be wrong on this, but we don’t buy the enchilada.
    JAS / Former (Rockefeller I.B.E.C. Marketing Intelligence Analyst/Strategist) (Licensed C.B.O.E. Commodity Hedge Strategist.)

    Reply
  • Steve October 20, 2017, 4:51 pm

    If someone can stomach an investment in the domain market they certainly should consider putting at least 10% of their speculative cash in cc’s. Crazy not to, imho. 95% are sh%tcoins but if you can separate the pigeon coins from the golden eggs bingo!
    Finally a peer to peer, permission-less trust network to transact with finite amounts of coins. hmmmm limited amount, semi private, secure, borderless. Compared to corrupt gov’s , endless amount of paper printing machines backed by nothing but empty promises. Can you say Greece, India, Venezuela, and many other’s soon to come. Bitcoin and a few other cc’s will push through the fud.
    peace.

    Reply
  • Samit October 21, 2017, 12:45 pm

    You can still buy a premium domains at times for low $$$ and sell it for 10x or more, let me know when you can do that with BTC.

    You might say, in that case you should ‘invest’ in ICOs, given that 99% of those are going to fail (just like the .com boom and bust), that’s worse odds than roulette, so unless you have great market intelligence / research, you’re probably more likely to ‘invest’ in a miss than a hit.

    You can make short term money w/ ICOs, but with a domain you can earn forever. The only thing common between domains and crypto currencies is that they’re both digital, which is like saying both Great Danes and Chihuahuas are dogs… it’s meaningless.

    Reply
  • Anthony Kirlew October 24, 2017, 8:13 am

    Ok, so who can point me to a place where I can offer domains for sale and take BTC as payment? 🙂 #SeriousQuestion

    Reply
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    Reply

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