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It's not a new concept and unfortunately the part of problem of this concept is the following which most all overlook.
The burden this type of system places on your members database,
Sure a 100 or 200 base member section might not be bothered much, but
you forgot to think about the member database is now being updated
and rewritten once per minute or possibly even so once per second if your using
a 60 second time frame.
2ndly your now adding more pressure on the maintenence of real accounts being updated, does your sytem have FILE LOCKING to ensure no loss of data on a new member being added?
I can go on and on... but I think you see my point and can think for yourselves
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