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Old 7th October 2008, 04:12 PM
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Nightmare scenario

I was just watching a documentary at NHK (Japanese official TV station) which was describing how people got conned by FX operators.

When I started watching, I assumed that the story line would be like that the operator talked only about good things without properly explaining risks associated with investment, bla bla... These things happen everyday.

Then I saw this lady who was saying she was doing pretty well with FX, earning enough to pay her son's tuition, etc... Once again I assumed that the story would be that she after all ended up losing miserably and lost all her money...

I got shocked to hear that it was actually not her who lost in the trade but the FX operator who without approval took her and other customers money, invested in FX and lost them. The company went bankrupt and she's got no hope of getting her money back...

Then I thought, wait a minute, what happens if domain registrars go bankrupt? I read somewhere (probably at a homepage of Value-Domain) that our domains would be secure and remain ours even if registrars get dissolved.

But how realistically can we rely on that promise? Registrars might in their desperate attempt try to sell our domains to pay their employees salary, debt, etc before they actually file bankruptcy... Or they might transfer our domains to shady organisation that could do domain laundering, again before they file bankruptcy. And by the time we notice something is wrong, the company could have gone bankrupt...

Am I worrying too much? Or should we take precautions and split our best domain names around several registrars? Do you know of any horror stories that have taken place in the ascii world?

Just some food for thought from me... What do you think?

Last edited by Ryu; 7th October 2008 at 06:12 PM..
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Old 7th October 2008, 04:41 PM
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Re: Nightmare scenario

the regfly thing is the closest thing i know of all my domains that i had there(7) were automatically transferred to godaddy and set up in a account in my name .
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Old 7th October 2008, 04:51 PM
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Re: Nightmare scenario

ICANN is sloooowly putting into place an WHOIS escrow security system that will allow domains to be moved seamlessly to a ICANN chosen replacement registrar when one goes tits-up.

This is a problem because com/net use "thin WHOIS" where the ownership data is stored at the registrar, not the registry.

org/info WHOIS info is stored at the registry.
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Old 7th October 2008, 05:08 PM
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Re: Nightmare scenario

GoDaddy and Enom ...are privately held....

There are public share registrars, but they are diversified entities...so they
could go bust from their other businesses.

I am 90% at dynadot, and have been pleased so far.
Gettting bulk and then super bulk pricing has built my loyalty.

I do not have any issues so far with the domainsite, enom, name, and others so far.

But navigating 4 user interfaces etc...is not a great hindrance so far

Big is not better...The current financial crisis proves that...

Actually, I think the risk is for IDNers who register with companies not in the US/EU/Japan/Australia etc....

The ASCII dot CN bust in China might put a lot of PRC registrars at risk because the renewal rate of poor ASCII names is plummeting....

I think international ccTLD predominant registrars will need to provide compelling hosting/ marketing/ and e-commerce services to build cash flow, loyalty and growth..


Also, I think ICANN has a process now, to get big registrars to absorb small registrar company failures now...It may not be pretty or transparent....

Could your nightmare scenario happen...
yes ....it is conceivable that bad registrars will steal names from their clients...

but the risk of a complete collapse of domainer confidence is just huge....

Steve
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Old 7th October 2008, 05:27 PM
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Time for a regulation

Time for a regulation
of the entire domain/hosting/ppc industry

Otherwise we'll all end up just like Lehman or Bear Stearns
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