An important message from Snapnames

[ydnaemsti]

Not only did they know, they had to participate. Let me explain. More than 1000 domains was going through their system between 1 and 4 PM. He had to:

1. Backorder all those domains at the end before and after the deadline.
2. Reverse bids on some of the backorders in order not to win.
3. He had to bid on some of the domains. He was busy for almost 2 hours per day bidding. No one in the office saw him sitting in front of the computer bidding on all those auctions for years every day? Even though the internal policy prohibited bidding.
4. Some of the stuff had to be automated or performed with the help of more than one person as you can not do all this work within those 2 hours.

BTW, that explains why there was no backordering deadline at SN. They could not have one.

 

[TheLegendaryJP]

Not only did they know, they had to participate. Let me explain. More than 1000 domains was going through their system between 1 and 4 PM. He had to:

1. Backorder all those domains at the end before and after the deadline.
2. Reverse bids on some of the backorders in order not to win.
3. He had to bid on some of the domains. He was busy for almost 2 hours per day bidding. No one in the office saw him sitting in front of the computer bidding on all those auctions for years every day? Even though the internal policy prohibited bidding.
4. Some of the stuff had to be automated or performed with the help of more than one person as you can not do all this work within those 2 hours.

Exactly!

What would be interesting is to know who benefited exactly from a higher company valuation besides Nelson... was a shareholders list available before the sale?

 

[Theo]

Oversee wants us to believe Nelson was in fact Neo, performing all this in "bullet time".

As VP of Engineering, he had extensive knowledge of the procedures, the security in place, the people that performed code enhancements and the audit times and methods.

But Nelson was no Neo from The Matrix. It's almost certain he recruited others and bought their silence. It will all come out eventually.

 

[Seraphim]

Has anyone contacted the authorities?

 

[thevirtual]

On the subject of Snapnames' backorder loopholes:

There is a deadline for placing backorders, 12:00 EST, I believe. Most dropcatchers would cut off any bids place after this time. HOWEVER, Snapnames do not want to stop people placing bids and driving up prices. Snapnames allows users to place bids after this deadline. In the event someone catches the domain through Snapnames anyone can place a bid after this deadline and hijack the auction.

This is one of the loopholes halvarez depended on. This way he had plenty of time to place hijacking bids without worrying about the clever domainers who wait until the last second before the deadline to place their bid.

 

[PRED]

dont forget most of oversees acquisitions etc have been funded by borrowing and backers. woner how theyre gonna feel about this major fraud

buck stops at the top and with nelson.
what do you say Lawrence Ng and Fred Hsu?

Lawrence Ng and Fred Hsu
Oversee.net Co-Founders


Here's an amusing quote from dnjournal, can you see the irony?

http://www.dnjournal.com/cover/2008/march.htm


Meeting Fred proved to Ng how important it is to work with the right kind of people. “It is vital that we bring in smart, tech savvy people who have a good work ethic.” Ng said. “We also work very hard at continually improving our work environment so that we can retain the talented people we hire. I have pulled a lot of best practices from other companies to create a culture that encourages professional and personal growth as well as community involvement. I believe that being a hands-on leader has helped keep​

our talented team in place. In the end, it is really about matching positions with skill sets to build a more creative and productive workforce.

 

[Theo]

Apparently Oversee will announce the results tomorrow. We shall see if this will be a good Friday or Friday the 13th.

 

[PRED]

Quotes from Lawrence Ng:

Ng added, “In terms of legislation that is being proposed about standardizing the industry, we ​

have to be clear about what our industry does, its reputation and its willingness to live by best practices so that regulators, legislators, and the media perceive us correctly. That’s why we all have to work as a group to build a true understanding of the issues.”

We also have a $100 million line of credit with Bank of America to fuel the company’s growth through acquisitions.”

“Our acquisitions of SnapNames and Moniker were based on the premise that we wanted to get into the aftermarket space and grow our share of the domain industry, becoming a one-stop shop for domainers and domain ​

investors. And then Oak Hill Capital Partners, a private equity firm, invested $150 million in us," Ng noted.

 

[Fearless]

Nelson can't be too bright. He had to know 100's of domainers suspected halvarez was an inside shill bidder. Why did he continue to use this same user name? A smart crook would have created multiple users and halvarez would have died before the 7th page of this thread.

 

[rentdn]

It would be interesting to setup a separate poll thread with question - Will you use snapnames.com in near future ?

Would be interesting to see the results here in DNF

 

[Fearless]

Will you use snapnames.com in near future ?

You should all quit using snapnames.com. I'd like to see some lower prices.

 

[Compassion]

nelsonbrady.net .org and .info are available to register

halverez.net .org and .info are available to register also

 

[A D]

It would be interesting to setup a separate poll thread with question - Will you use snapnames.com in near future ?

Would be interesting to see the results here in DNF

Poll posted at top of this thread.

-=DCG=-

 

[PRED]

It would be interesting to setup a separate poll thread with question - Will you use snapnames.com in near future ?

Would be interesting to see the results here in DNF

99% of domainers will think for themselves.
if snapnames was a shop in real life where people had to walk in they would get shunned. because internet is anonymous people will carry on imo
tbh i have only used them once or twice a year anyway. i am same with pool, and namejet, never really trusted them amongst other reasons

we had this when oversee showed their true colours and bullied the owner of swapnames.com ( a member here) with the full power of law. he had done nothing, was smallfry and didnt compete with them, it was a place to 'swap names'
anyway, he sunk a load into it and had a family so had to give it up. when domainers were asked about it, many said we cant stop its business, less go there the better

actually the most arrogant member was a female as i remember over at np


tbh, most of whats caught there is crap anyway and most of us have said for years you can get better stuff on forums lol

anyway, on a different tack, how much do you think frank schilling is owed???

 

[rentdn]

Agreed

but still interesting what result will be

99% of domainers will think for themselves.
if snapnames was a shop in real life where people had to walk in they would get shunned. because internet is anonymous people will carry on imo
tbh i have only used them once or twice a year anyway. i am same with pool, and namejet, never really trusted them amongst other reasons

we had this when oversee showed their true colours and bullied the owner of swapnames.com ( a member here) with the full power of law. he had done nothing, was smallfry and didnt compete with them, it was a place to 'swap names'
anyway, he sunk a load into it and had a family so had to give it up. when domainers were asked about it, many said we cant stop its business, less go there the better

actually the most arrogant member was a female as i remember over at np


tbh, most of whats caught there is crap anyway and most of us have said for years you can get better stuff on forums lol

anyway, on a different tack, how much do you think frank schilling is owed???

 

[Fearless]

Well, he just spent 28K to win itttech.com. Hope he gets his money back quick; he's probably gonna get served pretty soon.

Nelson also had access to traffic stats for the time after they snagged the name.

 

[Seraphim]

I will continue to use SnapNames, because [A] the ROI is there, I don't like NameJet, and [C] I always knew the domain auction venues were dirty from the beginning. Just like PPC, it's a walnut full of maggots, but if you can get money out of it without being scammed too hard, then why not? Same is probably true for the stock market as well.

I won an auction today, and halvarez is gone.

 

[Fearless]

Google search for shill bidding you get a picture of Nelson.

 

[rentdn]

BTW , did you notice that system right now is not working good.

I was able to place backorder on domains from pending delete , but it is not backordering names from PreRelease list

 

[packeted]

Have been reading these threads with much interest. Luckily I cut myself free of my Snapnames addiction in 2007 but recall coming up against Halvarez on many an occasion (usually in conjunction with the genuine bidder Bonkers)....

Will be interesting to see how this unfolds. Can't say there's much that interests me on SnapNames these days, the real gems of a few years ago seem to have dried up. If they manage to survive this will surely leave their secondary market auctions dead in the water.