Trust is one of the most vital yet elusive commodities in both a personal as well as public sense. Be it a personal friendship or an important business partnership, no relationship can adequately function without trust. One of the elements which makes trust so tricky to obtain, however, is the fact that for it to be effective it must be mutual—asking for faith given without giving a reason for a partner to trust you in return is an imposition, and likely one too far. However, this is how the domaining industry operates to a large extent. Those promoting the idea of domain elitism will, of course, insist that they do have reasons for you to trust them, but are these borne out by the facts? Let’s take a look.
THE DODGY PRICING TACTICS OF DOMAIN ELITISM
The greater portion of the domain industry operates under the idea that you can create domain names, get them priced, invest for a low amount and then sell them off for a higher price later on. In short, you’re asked to turn over the certainty of your present money for the uncertainty of a potentially-bigger payday someday in the future. In principle, it’s no different than gambling on high-risk stock options or on buying into a Pyramid scheme where you’re told that all you have to do is continue to sell-sell-sell (and of course continue to buy-buy-buy the necessary materials and “training” from your “supervisors”) and before you know it you’ll be cashing in big. It’s a proposition which would, under even the best circumstances, require an immense amount of faith. As it is, however, the circumstances surrounding the buying and selling of domain names in the world of domain elitists is not only less than ideal, but can in fact be deliberately slanted against your favor.
To begin with, the idea that you can buy in cheaply and sell your domain names off for an immense profit flies in the face of a simple logical point—those domain elitists who would price and the later buy your domain names want to make as much money as they can, too. Domain elitists are the ones who, in the end, will end up appraising and pricing your domain names, and herein lies the problem. Pricing your domain low will allow them to buy it from you at a lower price and then sell the domain name off on someone else for a higher price (once it suddenly comes to be priced for a higher amount as a result of their “re-appraising” it upon purchase.) There is no great incentive on domain elitists to appraise your domain fairly—assuming for the moment that your domain is actually viable and that this industry is actually a stable one itself (both of which are big “ifs”) the advantage here still is slanted strongly in the favor of those who get to set the prices and against those who would act as active agents in the marketplace these domain elitists set.
AND THE MONEY KEPT ROLLING IN (BUT FROM WHERE?)
Pro-domaining sites will commonly cite the testimonials of some select clients who, of course, have gone on to great success and lives of luxury as a result of the domain name game. Even if we assume that these testimonials are all legitimate, however (which can be yet another relatively-big “if” associated with the domaining industry, as it’s not uncommon for online websites to fabricate fictional identities for their testimonials page) these may still be seen as the exception rather than the rule, especially those who claim that they were able to attain their wealth without much work. Sites that advertise how little you’ll have to work for your newfound wealth—ie, sites with slogans that begin “For Only X Hours A Day…”—are sites that attract a lot of attention and, sadly, they’re also among those which have the least reason to be trusted. Here again the devil lies in the details. While it’s technically true that you can set your own hours and work at your own pace in an online job such as domain naming, the hard truth is that to make any kind of money whatsoever, especially with the domain elitists slanting the price in their own favor while utilizing other dodgy pricing tactics, you’ll often have to work long hours all week long just to break even. This “sit on your hands and wait for money” approach is just one more of those aforementioned dodgy pricing tactics designed to maximize the profit of those at the top of the domain name game scam at the expense of nearly everyone else involved with the industry on the ground level, including you.
Domain fishing is yet another fishy practice which is associated with the industry. While this in theory seems like it’d be an ideal match for the online world, in practice it just comes out as spam. Fishing for domains is no more or less pertinent than “flipping” them, the practice which most domain sites advocate, either overtly or in a more discreet fashion. This is often accompanied with lofty promises—ie, that you can quit your job and domain-flip full-time, that all you really need is one big month and you’ll be set, that if you spy a domain name which is doing well you can easily piggyback off its success by fashioning and selling a similar name, etc.—all of which follow the same pattern as the promises above—
They may be possible in a few very select cases, but they’re so improbable that, in effect, banking on even one of these principles to be true in your case is like betting the future of your career, family and future on the lottery.
None of this does much to inspire much trust, nor should it.
Nevertheless, domain elitists insist they can be trusted— But in the absence of good faith, what’s “trust” mean?