Free Ebay like buying?

[Blakelyneal]

http://www.listia.com/howitworks

 

Ive been a member on there for a couple days now and I have realized it is legit!

 

lol I thought it was gonna rip me off hard but my buddy bought two sirius radios off the site for like 200 points each which is less than you start with...

 

give it a shot, I wouldnt mind seeing more sciency type stuff on auction

 

just give it a shot, I know seems like it isnt real but it is... oddly enough

Edited April 7, 2010 by Mr Skeptic
spammy enough without the referral for yourself

[Mr Skeptic]

Hmm... it definitely is an interesting business model. They create a virtual currency (store credits if you prefer), which they can mint for free, and give away in exchange for users advertising on their behalf, and to encourage new customers. It doesn't matter that they give away their currency because it simply devalues it (creates inflation of the virtual currency)

 

But how do they get their money? Do they sell virtual currency? I see it's against their rules for users to sell money.

[Sisyphus]

It does sound like an efficient and fair way to give things away. As for the business model, third party descriptions claim you can buy credits (50 for $5), but I don't see that on the actual site, so I can't tell.

[ecoli]

It does sound like an efficient and fair way to give things away. As for the business model, third party descriptions claim you can buy credits (50 for $5), but I don't see that on the actual site, so I can't tell.

it's interesting that they have a fixed exchange rate to the dollar, because if they're giving away credits, that's gonna cause mega inflation.

 

If individuals can sell credits, they'll be dumping them as fast as they can for dollars or real products (if they're smart). Either way it doesn't sound sustainable to me.

[Sisyphus]

Well, people would just stop buying them if their practical exchange value dropped too low. (It's not clear whether this has in fact happened.) Merely increasing the "money supply" won't cause decrease in purchasing power. What would matter is the ratio of circulating credits to goods for sale, i.e. supply and demand.

[ecoli]

Well, people would just stop buying them if their practical exchange value dropped too low. (It's not clear whether this has in fact happened.) Merely increasing the "money supply" won't cause decrease in purchasing power. What would matter is the ratio of circulating credits to goods for sale, i.e. supply and demand.

If it's anything like ebay, than they can't really control supply, prices would just rise.

[Blakelyneal]

yeah it is all on what the people want, a buddy of mine bought two sirius radios for like 100 creds each and they sound great!

 

but for a 360 it costs like 20k creds... it is really odd but it is only things that the age group want is expensive lol

 

I think the excahnge rate is like 1k creds for 100 dollars but there is no reason to buy them if you can 'sell' things you dont even want.

 

pretty good, and just for being a part of the site you start around 200-260 creds lol

 

just make an account, it is pretty cool