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Auerbach Weighs in for gTLD Lotteries
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ICANN, after a fashion, sells TLD strings to registries. The registries in turn sell to registrars. The registrars in turn sell to consumers. Some of those consumers in turn resell those names to other consumers. Add in wait list services, speculators, et cetera at some point in the supply chain. At every step down this pyramid the price goes up, not normally because there is any value added but simply because the seller has control of what has at least the perception of being a scarce resource. In addition at most levels in this chain there are claims made by the sellers about the supposed scarcity, and supposed value, that are at odds with reality (compare this, for example, with pyramid schemes selling snake oil purported to be the cure for cancer or other illnesses). False claims, false scarcity, upping the price at each level without actually adding value, this all smells, or rather stinks, of a pyramid scheme for all practical purposes. -g
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Looks like a:pyramid scheme to me
by fnord
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There are two errors in this post, one is factual and the other is conceptual.
First, the factual error is the assumption that domain names are simply moving from one level of the pyramid to another and are not actually be used. This may be true for a tiny fraction of domain names, but very large numbers of registered TLDs have websites. If the remainder, most are held in stable inventories, and are not in perpetual motion.
Second, the conceptual error concerns the nature of a pyramid scheme. Pyramid schemes only work if more and more dupes are brough into the bottom layers of the pyramid, but this is clearly not the case with domain names. If anything, fewer and fewer dupes are buying worthless domains.
If the DNS were a pyramid scheme, it would have collapsed long ago. The fact that it has not collapsed is evidence that something of real economic value is at stake.
My apologies to all who have this extended exchange tedious.Lawrence Solum
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