Here’s one thing you might not know about the $60,000 sale of Business.club

Yesterday the news quickly spread through the domain name world of a major .CLUB sale, Business.club selling for $60,000. I first read about this on DNJournal and sent an email over to Jeff, one of the founders of .CLUB to congratulate him and the team.

As usual, I always love to get a little extra information about a sale like this when I can and Jeff shared something very interesting with me that you might not know.

It turns out that Business.club actually wasn’t sold in any standard currency like USD or EUR, instead it was sold for Bitcoin, 12 Bitcoin to be exact. Here’s how it all went down.

The buyer put Business.club in their shopping cart after finding it for sales at Names.club. They then emailed the .CLUB team and asked if they could make the purchase in Bitcoin. The .CLUB team agreed and used Epik Escrow, which accepts Bitcoin as a payment method.

The Bitcoin was immediately converted to USD and cashed out, done deal. Very smooth process and likely a tale of things to come. While Bitcoin isn’t at $20,000 any more, it’s still sitting around $5,000 which is still a major win for many Bitcoin investors. I think buying domains with cryptocurrency will only continue to grow over time, but slowly since it’s all still so darn new.

I’m excited to Jeff, Colin, and the whole .CLUB team – this is a great sale, and it’s pretty neat to hear that it was done with Bitcoin. Who knows, if they said they didn’t accept Bitcoin, maybe the sale would have never happened…we’ll never know.

Do you, like me, think we’ll see more domains purchased using Bitcoin over time? I want to hear from you, comment and let your voice be heard!

{ 25 comments… add one }

  • Snoopy April 26, 2019, 2:34 pm

    This would be one of the best .club’s. The number of sales in the extension and the prices achieved seems to be falling.

    2018 (and 2019 so far) are significantly lower than prior years looking at Namebio.

    Reply
  • Rob Monster - Epik.com April 26, 2019, 3:24 pm

    The BTC transactions are definitely on the rise following the recent uptick in BTC price.

    One advantage of Epik is that we don’t force you to hold your proceeds in crypto. It is possible to convert to fiat or to hold proceeds and use them at Epik.

    We see it all, including creative financing deals where we work with the legal counsel of the buyer to draft custom agreements where needed.

    The vast majority of the deals can be managed either through the Epik marketplace or through the full-service Epik escrow platform.

    It is also possible to promote domains with very attractive parking landers for free, including a free SSL certificate on each lander.

    Looking ahead, I think we will see a lot more registries engaging in direct selling of their ultra-premium inventory, including landing pages featuring them for sale.

    Reply
  • Mark Thorpe April 26, 2019, 6:02 pm

    Why are people in the domain Industry still using Epik after what we all know now??
    There are other domain escrow services that offer cryptocurrency as a payment option.

    Reply
    • Eugene Fraxby April 26, 2019, 10:45 pm

      Eh?

      Perhaps because many of us are not brainwashed politically correct robots that don’t believe in Libertarianism and freedom of speech.

      Reply
      • John April 26, 2019, 10:55 pm

        Thanks for chiming in, Eugene, and see my comment below which was meant to go here in reply to Mark too.

        Reply
    • Jon Schultz May 1, 2019, 2:01 pm

      Why are you trying to hurt one of the nicest people in the domain industry? Because he believes in freedom of speech? I don’t know what Rob may have said which I may not be aware of, but he’s been extremely nice to me and despite not agreeing with all his beliefs I think he’s a wonderful man. And Epik just happens to be a great registrar, dude.

      Reply
  • John April 26, 2019, 10:38 pm

    Mark, you have already tipped your hand to show you are essentially a mainstream corporatist looking at the world from the perspective of the “fake” left: https://domaininvesting.com/joe-biden-running-for-president-using-joebiden-com/#comments. So your bias is more or less evident.

    Based on your statement there you obviously also don’t know how the world really works, even against yourself by the sphere of influence you obviously support.

    If you were part of the real left, however, you would believe in and support all the American ideals of free speech for all which Epik and Rob stand for, and you would applaud what Epik has done lately even though you are on the (real) left.

    Persisting in this kind of commenting, however, is the “Neanderthal” and un-American position on things.

    Reply
    • John April 26, 2019, 10:49 pm

      And while I’m on the subject, FYI people should definitely see the best example of the use of .US I have ever seen:

      http://www.Represent.us

      Reply
    • Mark Thorpe April 27, 2019, 5:39 am

      It’s the owner that i was talking about, not the business itself. But you already know that.

      I am Canadian and proud of it.
      Good luck in the USA.

      Reply
      • John April 27, 2019, 7:45 am

        I did not know you were Canadian. Correction then:

        “Persisting in this kind of commenting, however, is the “Neanderthal” position on things.

        I’ve always had mad warm fuzzy neighborly love for Canada our friend up north, but I definitely wouldn’t be proud about what’s happening there about free speech if I were you.

        Reply
        • Mark Thorpe April 27, 2019, 8:30 am

          Everyone has an opinion, i’ve got mine and you’ve got yours. Agree to disagree.

          Reply
      • George In Miami April 27, 2019, 9:09 am

        “It’s the owner that i was talking about.”
        Lots of people didn’t like Bill Gates, Steve Jobs and many others, but their companies were doing great.
        Epik is doing excellent. Now, do you get the message? It sounds to me that you are envious.

        Reply
        • Mark Thorpe April 27, 2019, 9:37 am

          You missed the message, George.

          Reply
          • George In Miami April 28, 2019, 6:34 am

            Sorry, you’re missing my point between the company and who owns it.

      • BullS April 27, 2019, 10:43 am

        @Mark- I was sent to London/Toronto in Feb and I told the Canadian Immigration lady to deny my entry-she asked why- I told her so I don’t have to work in that damn minus 10F cold freezing weather. She said- Suck it up and Welcome to Canada.
        You Canadians have your own issues–carbon tax, AG corruption, high food prices and taxes taxes taxes.
        Viagra Falls is nice in winter but damn cold!!

        Reply
        • Mark Thorpe April 27, 2019, 1:11 pm

          @BullS Come to Canada in the Summer next time. Lol

          Reply
          • Mark In Canada April 28, 2019, 7:10 am

            @George You missed my point before you made yours.

  • steve brady April 26, 2019, 10:46 pm

    One full instance of BTC network transaction fees applied moving BTC from Domain Buyer BTC wallet to Escrow BTC wallet. A 2nd full instance of BTC fees occurred initiating an entirely separate BTC transfer from Escrow BTC wallet to Domain Seller BTC wallet.

    Last check, fees to move $60K of BTC from one wallet address to another wallet address could cost $10,000. Another perspective is 12.0 BTC sent arrives only 9.5 BTC

    Knowing the Daily Average BTC Transaction Fee is essential. The fee generated by Bitcoin Miners mining a new block for one stop. At the moment, there are 573,424 blocks on the Bitcoin Blockchain. Say random Domain Buyer acquires 12.0 BTC at Block 5000, then transfers 12.0 BTC to Escrow after Block 573,000 is written. Block 3000 can’t be edited. New Block 573,001 stores the update recent to Block 3000. Later on Block 573,200 records the next destination of a value linked to Block 573,001.

    Maybe it’s misguided to doubt overwrite ability regarding information contained in existing Blocks. But the BTC block size is only 2 or 4 megabytes, barely enough to contain the details of one transaction. If the same BTC private key at Block 3000 was transferred 20 times to 20 different wallet addresses, Block 3000 at 4 megabytes doesn’t have the capacity to record an infinite number of transactions unless it was overwriting prior details. Not the case, blockchain doesn’t delete previous info? Does it? The blockchain keeps a history of every transaction since day one . Therefore it takes a new block each time a BTC amount of any size moves.

    Early 2017 there were 1000 Bitcoin nodes, today there are 9000 nodes, distributed internetworked hard drives each maintaining a fully updated copy of the entire Bitcoin Blockchain. As new blocks are added, each of the 9000 nodes validates the authenticity with several nearby trusted nodes before replicating the new blocks to their copy of the blockchain.
    With 573,000 blocks each of the 9000 nodes can’t download an entire copy of the blockchain every night. That’s why Block 3000 can’t be altered, because 9000 nodes would have rewrite their copy of Block 3000. Instead of verifying new blocks to the blockchain, every node would be consumed rewriting old blocks.

    The two options are less expensive and more expensive, either way Bitcoin is expensive.
    Techniques enhance the sum efficiency of cryptocurrency conversion.

    Reply
  • steve brady April 27, 2019, 12:50 am

    573,000 blocks times 4 megabytes = 2,292,000 megabytes. 2 million megabytes is 2 thousand gigabytes. Is it better to store the whole blockchain in one file or make a directory named Blockchain that contains 573,000 unique 4mg files for each consecutive block?

    If Bitcoin was the “decentralized form of currency” it claims to be, then why is it every single transaction made to and from each and every individual private wallet gets recorded to a central file? The developers of the central file known as blockchain are conducting an invasion of small cash transaction privacy in order to charge storage fees at every increment far in excess the going price of memory all the while calling the central file a “distributed ledger” as if that’s better than having real Benjamins in your pocket.

    Reply
  • Mark Thorpe April 27, 2019, 1:22 pm

    Wow, some people are really sensitive. Lol

    Reply
    • BullS April 27, 2019, 4:33 pm

      They are sensitive….and they need to eat Tim Hortons’ donuts and real Canadian koffee…ayea

      Reply
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  • John Colascione April 29, 2019, 7:46 pm

    It will be interesting to visit business.club in six months and see what’s there.

    Reply

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