Something to think about

[dabsi]

Domain Name Speculation Bankrupts Chengdu Student

Internet, Shi Kaisheng
Xin Xu on May 08 | 18:05

Editorial Summary
A Chengdu college student named Shi Kaisheng spent all of his tuition money and savings on an unsuccessful investment in domain name registration, Chengdu Wanbao reports. Shi had registered more than 30 domain names since the second half of 2005, including stonesea.com, dayunhui.cn and libaiqing.cn. Every registration cost Shi a 60 Yuan registration fee and a 1,800 Yuan trademark registration fee per year. However, Shi has so far failed to sell any of his domain names. Shi said that he has no money for college tuition and may be denied a graduation certificate for defaulting on his tuition fees.

[thefabfive]

Just another form of gambling. Sounds like he has an issue understanding priorities.

Trademarks though?

[thegenius1]

Not really anything to think about in my Book untill a chinese Native confirms these Names are Gold or Platinum .... and even then he just doesnt have his priorities in order , And this story sounds bogus if he really needed his money back for school and the names were worth him buying them with his School money in the first place it should not be that hard for him to recoupe Reg Fee ?

Hopefully this story will turn a few people off from buying IDN's Evil Genius LOL !!

[IDNCowboy]

He took a step too far... He didn't need trademarks on the names.

Out of all my domain names, I have trademarks on two of them as they are my biggest businesses.


REGARDS,

jeff

[gammascalper]

Gosh, $230 a name would inflict pain in anyone.

Maybe there's a "trademark your name" scam going around China much like the appraisal scam stateside.

[Drewbert]

It was the trademark registrations that nailed him, not the "domain speculation".

[touchring]

Probably another scam report to raise donations.

[gatorgrad]

bingo...... no need for trademark registrations if your buying generic domains.

Probably another scam report to raise donations.

:) maybe he can set up a million dollar homepage! :)

[blastfromthepast]

including stonesea.com, dayunhui.cn and libaiqing.cn

This is wrong. StoneSea.com has been owned by Mr. Jimenez Hernandez Jose of Madrid since 2001.

The list of domains Shi Kaisheng owns can be found on dayunhui.cn

shen-7.com
volvos40.cn
dayunhui.cn
xibohui.net
lanshili.com
pkvs.cn
cnzao.cn
detie.com
chinastonesea.com
chinastonesea.cn
stonesea.cn
cnshen7.com
cnshen8.com

:o

Can anyone explain the appeal of Stone Sea or of appending 7 or 8 to a name?

I have a feeling we have had a few Shi Kaisheng type domainers showing up on this forum recently.

[Olney]

He should have stopped when he noticed the first 5 domains probably wouldn't sell.
I don't like risk.

[jose]

Probably another scam report to raise donations.

LOL. I agree!

[Olney]

Thinking about it more
I know plenty of people who spend ALL of their money on WEED, Women & Clothes.
Just because it was his college tuition does it make a difference?
I knew one guy that I loaned money to. About the time I really needed it he had hooked up with a Networking Marketing Company & convinced his wife's parents to invest between $10,000 to $15,000. (this was a person in the US)
Let's just say she divorced his dumb ass the same year.
After that I just gave up on the $1,700 I gave him while he was in Tokyo & about to be put on the street.

People make dumb moves, I don't feel sorry.