Hi Charlie, I haven't seen you post in a while! I thought you were too good for us peons now.
When you say "the owner" are you talking about Jered? I thought Jered owned it.
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Hey
I've been working to relaunch BitInstant, and as soon as we do I'll post alot more.
Jered is not the owner, he had mutual business dealings with the owner which allowed him to use the site as a landing page.
I'm kind of pissed because the owner is just 'holding' until it has more value, where using the actual domain will give Bitcoin more exposure and increase the value.
This kind of rational I dont understand.
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Charlie,
With nearly a decade of premium domain asset and intellectual property experience, perhaps I can shed some light on the situation. I have worked with millions of dollars of domains with startups, private investors, newspapers and tv-stations, publishing groups, professional athletes, and a few household names.
Although I (honestly) do not know who the actual owner is, I do know that every single negotiation and acquisition is complex, and very unique. It would be a mistake to place a "mold" or blanket statement on the owner. For example, although unlikely, this could be the only domain this individual owns. He or she wants to make sure they "time the sale" appropriately. I have heard a million times the song of "seller remorse" when upon transfer the seller says, "I left money on the table" considering the potential that unique asset has and value it will bring to the new company and their bottom line. On the other hand, the individual may be extremely experienced and wealthy through the billion dollar domain industry. There are only a few thousand people on the planet that can lend professional advice or negotiation based on a six or seven figure domain asset.
That being said, in many cases, the domain name owner simply "doesn't need the money" and is content simply gambling on the value increasing in the future. To that particular point, with Bitcoin, he/she is probably correct that the value will go up - but - that does not necessarily translate in to a higher offer from you. So, the risk to reward equation is tricky. Ultimately, in my opinion, it's always a bit more difficult to buy when the seller knows who you are and the potential ROI. It's really about opportunity cost, and the tricky equation of finding their sell-now-threshold and hot button. You also have to keep in mind taxes. While for you, you secure a tax-deductible investment, (and appreciating asset), the seller of the domain asset will have his/her profit taxed. If the money they are earning from the affiliate link and / or licensing agreement is a consistent and healthy amount, they may not see the immediate need or value proposition to "lose" the asset forever.
In some interesting cases, domain "lease agreements" have been structured for 99 years. Others have an annual decline lump-sum with a set term and first right of refusal built in. Ultimately though, it's always best to own the asset. But, unfortunately, it sounds like the owner is fat and happy and knows there are multiple interested parties.
If you're interested in discussing further, let me know. There is a chance I could be of assistance no doubt.
