There has been a surge in demand for domains as the sector has become more developed. Domains effectively work as real estate and Bitcoin is the latest city with the best prospect for construction firms! I’m actually no stranger to domains in general and what is notable about this sector is the amount of domain trading that has started to occur. In the weekly biggest sales report (on DNJournal) we often see crypto domains sell for a lot, which is above all an indication of potential! As the demand for cryptocurrencies rise, so will the value of the domains.
That’s a good question and I started with the intention of buying the following formula domains = Bitcoin + one word + .com , however, the more involved I got with the altcoin community the greater I realised was the potential of alt coins. There is a huge amount of interest in them and on a personal level I believe that the days of Litecoin are numbered. Don’t put me on record with Darkcoin but I do believe another altcoin will overtake Litecoin as the “first reserve” of Bitcoin and ultimately serve a different, greater purpose than it. Darkcoin for me was an experiment and one that has been enjoyable and already profitable – if the coin takes off the domain portfolio I have will be indisputably the best in existence and my gamble will have paid off.
As I said I’m not actually new to domaining but I was quite nervous in the cryptocurrency market as there is more volatility and a lot of unknowns. As I have known from previous investments domains become quite expensive so choice is key. So SatoshiNames started slowly and with a good business model in my opinion since it is scaleable and I first purchased a few domains including Bitcoin.CEO . After I sold a couple of them (one with over $1000 profit) I decided to expand and now I have over 100 domains, with many more planned, but I intend to grow organically and build up a presence and reputation at this stage. I won’t forget the humble beginnings of my exploration in this niche!
Well actually right now I am planning a Summer holiday of 6 weeks travelling through Russia, Mongolia and China so the business operations will be put on hiatus except from taking orders and sales (which will be done through a friend)! For that reason I have a buy-it-now sale on all domains for $99, and we have already made a couple of sales in the first two days of the sale.
(Continuation of number four) When I get back I will consider the future of the business. I have had some interest with potential investors who have suggested that I launch an IPO, however, that will be happening in late August, if at all. At the minute the business is profitable and I have not had time to go over the figures properly – and unfortunately, my day-to-day job is in Finance, so we tend to be sticklers for profit margins!
Well the first stage would be getting in touch either via Twitter @SatoshiNames, the contact form on our website SatoshiNames.com or directly via e-mail at email@example.com . As to the process it is all very fast with the vast majority of our domains on GoDaddy and able to be pushed to your account immediately. I’m happy to accept most forms of payment (of course Bitcoin, as well as most altcoins, Skrill etc). For domain newbies I try my best to explain the process simply and clearly.
That’s a toughie… part of it is experience. If you look in the Bitcointalk forums Digital Goods section you will see lots of people selling domains that are frankly awful for a ridiculous price. That is why they don’t sell any, and then realise that actually the renewal fees do sum up quite fast. I won’t give too many tips of the trade away but from a valuation perspective .coms are key and keywords with search volume are a must. If you can’t think of a use for the domain, no-one else will be able to either but as I said initially it really comes down to instinct.