I can't believe that domain trading is still a thing.. I am sitting on a bunch of "nice" domains; I could never imagine someone actually bought for not even vor 100 bucks... and here we are, 30k?
OK.
I bought Friendster for $30k – Here's what I'm doing with it
491–500 of 648 posts
Re: I bought Friendster for $30k – Here's what I'm doing with it
#492Re: I bought Friendster for $30k – Here's what I'm doing with it
#493Earlier quoted context omitted.
When a new app is released, it takes a few days for it to get into search, for some reason. Pretty much every single time a new app releases I see a comment like this. Nothing malicious you just have to wait a bit.
I think it's a warranted attitude to take a failure to implement plaintext search as part of your text search algorithm as enemy action. Yesterday I ended up at Bing for some reason and typed in the unique name of the site I was looking for and it didn't even come up in the first page; All their competitors did, as well as a couple random SEO farms. This is enshittification to the point of unusability, for an applica…
We need a FOSS nonprofit search engine that works like 2000s google
Re: I bought Friendster for $30k – Here's what I'm doing with it
#494[flagged]
A little over reaction here, they were very open about the process. Lets not take down the horse before the carriage. The article mentions they started "park.io" which was backordering domains, so at minimum expertise and some relevancy exists (was acquired). Lets look at Friendster from a less foggier lense, its an attempt in the right direction. Use it or don't use it.
Their reaction is perfectly proportional
Re: I bought Friendster for $30k – Here's what I'm doing with it
#495Re: I bought Friendster for $30k – Here's what I'm doing with it
#496> He said he would sell it to me for $40k. I offered $20k, which he refused but he said if I had any domain names generating ad revenue, we could do a deal of domains and cash. He said he would accept a lower amount if I paid in Bitcoin. > So we worked out a deal where I gave him $20k in Bitcoin and a domain that was making about $9k/year in ad revenue, and he gave me the domain friendster.com. Now I was the owner of…
If you had a steady investment opportunity with 10% return (about in line with long-terms stock market returns), $9000 per year indefinitely is worth the same as $99000 now (in an idealized finance world. In the real world you can't invest $99000 and withdraw $9000 per year because withdrawals during downturns will take out too much. But it's a quick way to calculate equivalent values). That's obviously an upper boun…
I have a calendaring site (won't mention it here b/c I don't want to be seen as plugging it) that has been generating revenue from ads and subscriptions for 26 years now. At its peak, well over 100k/yr but now more like 15k/yr for the past 5 years. Still a very steady income b/c the site is sticky. The only expense I have is about $3k every 36/mo for VPS hosting. At this point the code base is so mature that I only do minimal user support. I've looked into selling but people only want to offer 2x annual revenue. Why would I do that when I can just hold onto it for another year? I wish more people saw the math your way.
Re: I bought Friendster for $30k – Here's what I'm doing with it
#497Earlier quoted context omitted.
My thoughts as well, I love this! Easy to do, easy to implement but hard to bypass. Also it tells me something about the network that is not vying for a slice of the attention economy and isn't going to do everything it can to keep me on the site.
Why "hard to bypass" would be a sufficient thing? It depends on the technology used to connect the two phones. Bypassing this process can range from "easy" to "quite complicated", but it remains possible. Once the security is compromised, the entire network loses its core value since a single interaction is enough to establish a permanent connection.
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Re: I bought Friendster for $30k – Here's what I'm doing with it
#498Earlier quoted context omitted.
> $20k dollars in bitcoin (I can’t say how much bitcoin that is because it fluctuates too much to be a stable currency), to buy a dead domain that makes $9k a year in at revenue That's...a good deal? Assuming even 50% margins, that's a solid yield.
It’s nothing of value buying nothing of value. If you only see dollars and not the utter nonsense you’re either young or not very bright.
> It’s nothing of value buying nothing of value
Doesn’t that make it fine? If I trade three acorns for a crayon drawing of a squirrel, that’s a nothing burger. If I bought those three acorns for a million dollars, then someone might have a legitimate gripe with my choices.
Re: I bought Friendster for $30k – Here's what I'm doing with it
#499The 'tapping phones' gimmick strikes me as something that sounds cute but will become an annoying chore that one should be able to opt out of. Particularly given various unintended side effects -- I personally wouldn't want my connection to my deceased best friend to be subject to some decay feature on a social network. And either way, it's not the core feature that will draw users to the site If you want to differen…
As others have mentioned, “Bump!” did it 15 years ago and it was little more than a novelty, despite its Google acquisition. iOS has also had the tapping-phones-to-connect feature baked in for years (NameDrop) and no one uses it. Curious how that OS-level functionality might conflict with the app-level bumping. That aside, w all respect to the poster, it strikes me that they took that comment and ran with it before d…
> iOS has also had the tapping-phones-to-connect feature baked in for years (NameDrop)
Well that's just because I have no idea how to find it. The "share contact?" prompt when you text a new number accomplishes the same I guess but it would be nice to skip the number part.
Re: I bought Friendster for $30k – Here's what I'm doing with it
#500> He said he would sell it to me for $40k. I offered $20k, which he refused but he said if I had any domain names generating ad revenue, we could do a deal of domains and cash. He said he would accept a lower amount if I paid in Bitcoin. > So we worked out a deal where I gave him $20k in Bitcoin and a domain that was making about $9k/year in ad revenue, and he gave me the domain friendster.com. Now I was the owner of…
discounted cash flows - DCF