Earlier quoted context omitted.
I registered a domain last week directly from the registrar for $200 a year, which Is a lot for me. I know it is probably at least worth $1000 right now so I could get what I paid out of it at least. The point I am trying to make is that things adopt their real value, domains for an analogy are like real estate. SF/SV/NYC/LON are very desirable areas and it takes a long time to build out that infrastructure. It is a…
> I know it is probably at least worth $1000 right now Based on the sale price from last week, it's worth about $200 right now.
* there is friction in the market
* information is distributed asymmetrically
* improvements can be made quickly with technology
* value is different for each actor, synergy could provide a more compelling case for an action
* people still make money of arbitrage
* people will pay not to wait, e.g. registration and ownership of an asset in a foreign country has a 1-2 month lag.
etc.