Where To Put Your Money: Cryptocurrency Or Domain Names


A simple tweet from domain industry giant Rick Schwartz has raised the eyebrow of many and has become a hot topic for discussion.

You may find the statement of Rick a bit of biased toward domain industry as he is a pro player in domain industry, also known as domain king. So let’s look at both the industry to find where to invest for better and secure future.

Cryptocurrencies is a place filled with potential, looking at the recent trends it appears that Crypto currencies are the best return providing investment just like the early days in domain name investing. The pioneers and the trailblazing need to accept the fact that it’s harder for them specially because of lack of proper infrastructure and regulations, but the same time the return is insanely huge for them.

For example, one of the popular cryptocurrency the Bitcoin was at the valuation of $976.65 USD at the beginning of this year which is now at $3754.94 USD [1] specially after the splitting of Bitcoin on 1st Aug-2017 to Bitcoin(BTC) and Bitcash(BCH) at the day of splitting it was evaluated at $2787.85 USD and just after 12 days, the valuation have notoriously increased to a value of $3770.8.

But at the same time there is a lot more risk specially under the situation where there is no proper regulations, infrastructure. There are a lot of things that don’t work in the world of cryptocurrencies from exchange that go bust over night to wallet security issues sometime technology behind itself [2]. On 19 June 2011, a security breach of the Mt. Gox bitcoin exchange caused the nominal price of a bitcoin to fraudulently drop to one cent on the Mt. Gox exchange, after a hacker allegedly used credentials from a Mt. Gox auditor’s compromised computer to transfer a large number of bitcoins illegally to himself. He used the exchange’s software to sell them all nominally, creating a massive “ask” order at any price. Within minutes the price corrected to its correct user-traded value [3][4][5].

 

References:

1: https://price.bitcoin.com/
2: https://www.youtube.com/watch?v=_sB8w1nJ8a8
3: https://web.archive.org/web/20110919162635/
    https://mtgox.com/press_release_20110630.html
4: https://www.youtube.com/watch?v=T1X6qQt9ONg
5: http://www.dailytech.com/Inside+the+MegaHack+of+Bitcoin+the+Full+Story/article21942.htm

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Ashish Raj

Ashish is a graduate from the prestigious Indian Institute of Technology (IIT), Varanasi, one of the elite institutions of India.

Comments 4

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  1. I tend to agree that domains are a better investment than crypto currencies. You have way more control over your domain assets and options than you do in crypto.

Where To Put Your Money: Cryptocurrency Or Domain Names

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