The Delphi Oracle would have predicted today's stock market plunge but no-one listened.
Everyone who read the news a couple of days back about how the domain name Photo.com was sold for $1,250,000 ought to really get disappointed now: the domain changed hands for only $1,250.
How is this possible, you might ask?
It’s simple, actually.
Today’s domain market is manipulated by rogue auction houses and hedge fund investors that continuously flood the market with doom and gloom news, affecting its fluidity and volume. Non-stop.
Soldman Gachs – the domain investing fund corporation based in New York that brokered the Photo.com deal actually bid on futures for the domain’s sale, sold via the Internet, not on the domain itself.
The same company bid against the survival of auction platform, Bido.com that closed its doors yesterday.
Who cares, when the brokers and the banks make money, right?
In today’s economy, such typos can greatly affect the mentality of domainers, who often maintain the lemming approach to how they react to news: once they see a domainer jump off the cliff, they follow.
In other news:
The almost 1,000 point dive today at the New York Stock Exchange was not caused by a despicable race of party-loving barbarians – collectively known as “The Greeks” – but rather, by a NYSE trader with sticky fingers.
According to Forbes, today’s panic at Wall Street was the result of an accidentally entered order to sell 16 BILLION worth of stock market futures contracts instead of the intended 16 MILLION.
Lesson of the day: Tomorrow, another typo by a lazy banker or trader of the NYSE might cost your domains to depreciate. Instantly. Please keep a roll of duct tape and a gas mask handy and keep your domains at Fabulous.com – far away from volatility.
Loving the sarcasm 😀
The stock market news today really made me wonder if those idiots at wallstreet all they do is sit on their asses all day drinking sake and waiting for bad news. Damn banksters.
DFG – Banksters? You mean it wasn’t the fault of the Greeks? I thought it’s easier to blame Greece for everything.
If this is the case, then CamRoulette.com sold for only $150 bucks? :-p
Attila – Bingo!