Re: [ga] WLS

[Abel Wisman <abel@able-towers.com>]

I seem to speak in riddles or foerign tongue (I know my typing is bad).

It is not the selling of an option, this is the selling of thin air.

options : the right to buy or sell the stock (=entity) at given price at 
agreed moment in time

beartrading (see options almost identical again the rights to buy/selll are 
sold it contains rights to an existing entity)

conditional contracts (insurance is such a contract according to law-terms) 
same, IF the conditions is fullfilled a tangible entity is transferred

the point is: a deleted domain is no tangible entity 

if i demolish the house (let's be radicale, we blow it up, pulverise it!) I 
can sell the land, the insurance claim, a building right, the remaining trees 
(if any) I can even sell "a" house to replace the old one (full filling an 
earlire obligation perhaps) but I can and may not sell the house that was 
blown up, main simple reason is the fact that is no longer exists

a deleted domain is deleted, that's it, end of the line, gone, no more, done 
with, out of existence. 
That is the meaning of deletion and that is the terms of the contracts with 
ICANN, resale has not been mentioned, letting it live forever has nt been 
mentioned; they are to delete the domain -eof-

so henceforth the interest in a new registration is what we are discussing.

and we are discussing the actions of the registry, not of any registrar with 
aspirations. just the registry, since they propose the wls.

which company the registry runs is of a lesser importance, though it of 
course is another clash of interests, though they will deny such.

If on the other hand we want to XFER the domain, THEN it is an entity, 
however an entity with rights on it, and we can not exclude the current 
"owner"

abel 



On Friday 11 January 2002 4:20 pm, Patrick Corliss wrote:
> On Fri, 11 Jan 2002 14:14:06 +0000, Abel Wisman wrote:
> > I am sure the lawyers will point out that you can not sell something that
> > doesn't belong to you,
>
> Or, perhaps, buy something from sombody who doesn't own it to sell?
>
> Well, yes you can, actually -- in the financial markets (and elsewhere)
> people do that stuff all the time.  Let's take a couple of examples:
>
> Bear Trading.  Normally people think in terms of buying stocks (aka shares)
> on the stock exchange.  The person who is selling is expected to have them
> to sell.  However, it is perfectly possible for a person to sell shares
> that they do not own.  Of course, they must deliver shares on the due date
> (often a few days into the future) and they will have to buy them in the
> market on or before the delivery date.  Naturally the seller hopes the
> price will go DOWN before they are required to buy them.   That's sometimes
> known as "going bear".
>
> Options.  Although not quite the same thing, "options" can be used. 
> Options work both ways.  You can have an option to buy and you can have an
> option to sell.  For example, if I wanted to buy some property and didn't
> have the money, I could take out an option to buy.  It is a genuine
> contract which is valid for a specified period of time.  Basically, the
> owner of the property agrees not to sell the property to anybody else
> during that time.
>
> Conditional Contracts.  There is nothing to stop someone from formulating a
> contract that is conditional on some event occurring.  In a way, this is
> like insurance where the insurer agrees to pay you iff your house burns
> down.
>
> In our case, what these registrars are doing is much like insurance where
> they agree to register a domain name iff they manage to snap it up when it
> is deleted.  There is nothing intrinsically wrong with that sort of
> approach and, despite what Joop says, there is really no obligation to
> inform the current registrant.
>
> In fact, you could make a case that a registrar who does NOT perfom the
> service might become popular with registrants who would rather not take
> what seems like an additional risk.
>
> > so unless the registry gains an unfair advantage on
> > the entire market by registering names at moment of deletion, thus using
> > their (public) systems to their own advantage, and then reselling them,
>
> there
>
> > is nothing to sell.
>
> That's not really the problem.  The problem arises because VeriSign is the
> registry.
>
> > abel

-- 
Abel Wisman
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mobile +44-78 12 14 19 16

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