Post
Topic
Board Bitcoin Discussion
Re: Accepting Bitcoin for sales in a volatile market.
by
Baronets
on 27/08/2020, 10:23:48 UTC
I don’t know how long it takes for you to sell domains, ie, from the initial advertisement to final sale - is this likely to be 1 week, 1 month ?

Anything from 5 minutes to 5 years. I sold a name for Sterling in about 5 minutes over the phone. The buyer found my phone number through the registration information. That won't happen now, as names have privacy protection, but there is still a method of contact through emails. I've been negotiating the sale of another couple of names for over 3 years. I'm not to stressed about selling them, and the buyers don't want to pay my asking price. It costs less than $9 per year to keep them, so there is no pressure to sell.

I feel that I am missing out by not selling the names that I don't need, and I should have sold for Bitcoin when the price was around $3,000 or less. I don't need the money at the moment, but I feel that Bitcoin could more than double in value over the next 12 months, and that could be a conservative estimate. The names may not have a comparable rise in value, so it makes sense to boost my wallet savings whilst Bitcoin is going through a correction.

The real quandary is the possible opinion of the buyer. They could reject the whole concept of Bitcoin, especially in view of the reported frauds. One possibility is the use of an escrow service by a forum member. He could accept payment in fiat, and pay me in Bitcoin when the name has been transferred. I haven't seen a member offering such a service though. A registrar push is immediate, but a registrar transfer can take a few days to confirm the receipt in a buyers account. If it takes a week, that is a long time in crypto, and one would need to consider the possibility of price movements in Bitcoin during that period.