the next ebay? - GoFuckYourself.com

herbal logic · 06-02-2004, 07:05 PM

Ive been reading about this company for a very long time on stock message boards. (TFCT)

Basically, you set the price for an auction above the retail price. And then people use tickets to enter a lotto for the item. Once the number of tickets is reached to satisfy the auction (each ticket = $1, so the # of tickets needed is = to the price you set) a lottery is held and whoever has the winning ticket wins.

anyways, was messing with this a little tonight ($15 worth) and it was kinda fun. Might catch on.

heres the link

http://www.prizewise.com/huh.asp

herbal logic · 06-02-2004, 07:08 PM

heres the stuff i used my tickets for.

2004 Toyota Tacoma Quad Cab, Silver - NEW 1 / 38,000
1 in 38000
8/19/2004
9:32:12 PM

2005 Lotus Elise: The Future Car of the Year!!! Deliverable in June!!! 2 / 80,000
1 in 40000
8/19/2004
9:32:12 PM

BRAND NEW 2004 Dodge Viper SRT-10 1 / 139,999
1 in 139999
8/19/2004
9:32:12 PM

BRAND NEW 2004 Infiniti FX45 AWD 1 / 69,999
1 in 69999
8/19/2004
9:32:12 PM

BRAND NEW 04 Mercedes-Benz SL-Class SL500 Roadster 1 / 139,990
1 in 139990
8/19/2004
9:32:12 PM

2005 RX Warrior Snowmobiles 1 / 14,500
1 in 14500
8/19/2004
9:32:12 PM

Sony 70" XBR® Grand WEGA? 1 / 8,933
1 in 8933
8/19/2004
9:32:12 PM

Brand New * Yamaha SX230 Boat 1 / 49,499
1 in 49499
8/19/2004
9:32:12 PM

NEW 2004 Corvette C5 Convertible. A Beauty and A Beast. 1 / 99,000
1 in 99000
8/19/2004
9:32:12 PM

NEW 2004 Honda Aquatrax R-12X Jet Ski. Endless summertime fun! 1 / 20,900
1 in 20900
8/19/2004
9:32:12 PM

Yerf Dog 6.5 Horse Power Dune Buggy Go-Kart 1 / 2,448
1 in 2448
8/19/2004
9:32:12 PM

NEW Powered Paraglider/paramotor package. 1 / 16,824
1 in 16824
8/19/2004
9:32:12 PM

NEW! Honda CRF 250X Dirt Bike-Get it now and set yourself free! 1 / 10,999
1 in 10999
11/19/2004
6:00:05 AM

3.12 OUNCE BAR of STUNNING 999.9% 24kt GOLD! 1 / 2,090
1 in 2090
11/26/2004
1:34:28 AM

nathan_f · 06-02-2004, 07:09 PM

hmm, that's pretty cool..

jdog31 · 06-02-2004, 07:09 PM

seems illegal

SeTec · 06-02-2004, 07:10 PM

what happens if not enough tickets are bought?

twistyneck · 06-02-2004, 07:10 PM

Cool idea.

Alex · 06-02-2004, 07:12 PM

How is this like ebay? In ebay you buy shit. This is one big ass raffle. And in ebay, only the person who gets the top bid has to pay. Here everyone pays.

Exact oppisit of ebay

Oracle Porn · 06-02-2004, 07:14 PM

thats bs...they make way too fucking mcuh profit.

herbal logic · 06-02-2004, 07:14 PM

Quote:

Originally posted by SeTec
what happens if not enough tickets are bought?

then your item doesnt sell I assume. See, they claim a 40% increase in profit as opposed to listing on ebay, as the seller sets the price, and the price determines the # of tickets needed to close the auction. Prizewize pays the seller, - 17% fee.

Just think its an interesting concept. the share price is around 0.06.

PrivateEye · 06-02-2004, 07:17 PM

That wont affect ebay

FlyingIguana · 06-02-2004, 07:20 PM

interesting, but they have a ton of growing to do in order to be half the size of ebay.

even if it catches on and turns out to be successful, i highly doubt they'll get anywhere near ebay's market cap.

Alex · 06-02-2004, 07:24 PM

I think they will grow big and quick

Get a car for $1

How many people is that bound to attract

herbal logic · 06-02-2004, 07:24 PM

Quote:

Originally posted by FlyingIguana
interesting, but they have a ton of growing to do in order to be half the size of ebay.

even if it catches on and turns out to be successful, i highly doubt they'll get anywhere near ebay's market cap.

agreed, ebay is a very long way. A 1.00 share price may happen in the next 6 months if they live up to their advertising claims. The key to success is to have enough users to close 100,000 ticket auctions in under a week.

EviLGuY · 06-02-2004, 07:25 PM

Yeah thats an interesting idea anyways.

herbal logic · 06-02-2004, 07:26 PM

Quote:

Originally posted by kaliboy2g
I think they will grow big and quick

Get a car for $1

How many people is that bound to attract

thank you... that sums it up perfectly

riosluts · 06-02-2004, 07:31 PM

I doubt this will be a big hit. Some guy will buy like 5 tickets for $5 and wins a car while some guy bought 1000 tickets and wins nothing.

FlyingIguana · 06-02-2004, 07:34 PM

Quote:

Originally posted by herbal logic
agreed, ebay is a very long way. A 1.00 share price may happen in the next 6 months if they live up to their advertising claims. The key to success is to have enough users to close 100,000 ticket auctions in under a week.

i haven't checked out their company, are they private or public? how many rounds of financing have they gone through? they could get a large user base with some smart advertising, but it would cost some money.

FlyingIguana · 06-02-2004, 07:35 PM

Quote:

Originally posted by riosluts
I doubt this will be a big hit. Some guy will buy like 5 tickets for $5 and wins a car while some guy bought 1000 tickets and wins nothing.

people still buy lottery tickets and the odds of winning are worse than getting hit by lightning.

herbal logic · 06-02-2004, 07:37 PM

Quote:

Originally posted by FlyingIguana
i haven't checked out their company, are they private or public? how many rounds of financing have they gone through? they could get a large user base with some smart advertising, but it would cost some money.

they are on the pinksheets TFCT

dunefield · 06-02-2004, 07:38 PM

Quote:

Originally posted by Oracle Porn
thats bs...they make way too fucking mcuh profit.

thats the whole point of a business?

would you prefer to be in debt?

herbal logic · 06-02-2004, 07:38 PM

21st Century's prizeWise.Com Growth Accelerates

LAS VEGAS, May 21, 2004 (BUSINESS WIRE) -- Earlier today, prizeWise's president, Steve Rinehart, announced that membership in the website, http://prizeWise.com, was growing at the rate of one every 8 minutes. Since that announcement, growth has accelerated to the rate of one per minute. Additionally, property has been added to the sweepstakes pool, making the total value as of the issuance of this release at $7.3 million, and increase of $2.3 million from the announcement of earlier today.

EviLGuY · 06-02-2004, 07:40 PM

Here is what happens if you dont sell enough tickets.

"What if my item doesn't sell enough tickets?

You have 185 days to accumulate ticket entries for your item. If in that amount of time you do not reach the target number of ticket entries you have requested, the raffle will be closed and tickets will be returned to all buyers.

After your raffle has closed due to insufficient ticket entries, you will have the option to relist the item and start a new raffle."

Groove · 06-02-2004, 07:42 PM

That's a very clever concept. Might be a winner

herbal logic · 06-02-2004, 07:43 PM

1 user a minute, 60 users an hour, 1440 users per day, 10,080 per week, 40,000 per month (at current claimed rate)

EviLGuY · 06-02-2004, 07:44 PM

Hey herbal.. put up your ref link and I will register under you.

Matt 26z · 06-02-2004, 07:45 PM

This is nothing new, and the government has had their eye on it for awhile.

NickPapageorgio · 06-02-2004, 07:48 PM

Ok where does my dollar go when there aren't enough tickets bought? Seems a little shady to me. Did I miss that part?

herbal logic · 06-02-2004, 07:49 PM

Quote:

Originally posted by EviLGuY
Hey herbal.. put up your ref link and I will register under you.

not sure if they have a referral program.... the may ask you as you register. lmk

this is interesting

Will you distribute coupons for my business?

Yes. We will if they're valuable. If you represent a business that wishes PrizeWise to distribute your coupons, you may either upload your information by click the "Merchants" button in the far bottom menu, or e-mailing your coupons to: [email protected]. Include an attachment with the coupons you want us to post, in .JPG format, with each coupons being 400 x 200. You must also include your logo in a separate .JPG file. Include also a description of your business, contact information, and whether your coupon is local (state or providence specific), national (all US, all Canada), or universal (worldwide). The greater an audience that can use your coupon, the more of it we will distribute. We will provide you with a mechanism for seeing how many of each of your coupons we have distributed. We encourage large companies to post with us. We reserve the right to refuse to post any coupons for any reason.

herbal logic · 06-02-2004, 07:49 PM

Quote:

Originally posted by NickPapageorgio
Ok where does my dollar go when there aren't enough tickets bought? Seems a little shady to me. Did I miss that part?

they give your ticket back

NickPapageorgio · 06-02-2004, 07:51 PM

Quote:

Originally posted by herbal logic
they give your ticket back

Oh ok. Good enough for me. GAME ON!!

herbal logic · 06-02-2004, 07:53 PM

Quote:

Originally posted by NickPapageorgio
Oh ok. Good enough for me. GAME ON!!

lol.... I bought my $15 worth and will wait and see... I imagine if you win it could become rather addicting... playing the odds, spreading risk, and then turning around and selling won items on ebay at huge profits

detoxed · 06-02-2004, 07:55 PM

seems pretty sweet.

Now listen to this.. technically.. since this company is using the excuse of selling coupons for free tickets... couldnt a porn website sell coupons for adult dvd's and getting the free adult site membership? recurring coupons

4Pics · 06-02-2004, 07:56 PM

neat concept, but how do you know it isnt fixed so their buddies win all the auctions?

herbal logic · 06-02-2004, 07:58 PM

Quote:

Originally posted by 4Pics
neat concept, but how do you know it isnt fixed so their buddies win all the auctions?

Who chooses the winner?
This selection process is completely random. The winning ticket is selected by prizeWise's computers. It is currently prizeWise procedure to have an Intel random number generator, seeding by noise internal to the computers? conductors, pick the winners of all sweepstakes. The winning ticket is chosen and posted the moment the final ticket in entered. This process has been proven highly reliable and perfectly random. If there is ever a situation in which a winner must be chosen by hand (i.e. a site bug, an invalid first time winner, etc...), the winning ticket number will be chosen by the most reputable third party with whom are able to contract, such as our accounting firm or law firm. The sweepstakes information will be transferred to them in a double-blind arrangement (in which neither of us have both the ticket numbers and their owners, or the winner), and they will randomly pick the winning ticket by physically rolling a ten-sided dice, logging each digit as they go. In the future, we may make arrangement to choose the winners to certain high ticket items live via web cam on the site

ModelPerfect · 06-02-2004, 07:59 PM

Quote:

Originally posted by herbal logic
Ive been reading about this company for a very long time on stock message boards. (TFCT)

Basically, you set the price for an auction above the retail price. And then people use tickets to enter a lotto for the item. Once the number of tickets is reached to satisfy the auction (each ticket = $1, so the # of tickets needed is = to the price you set) a lottery is held and whoever has the winning ticket wins.

anyways, was messing with this a little tonight ($15 worth) and it was kinda fun. Might catch on.

heres the link

http://www.prizewise.com/huh.asp

How long can "a very long time" be?!? They say they only launched May 21, 2004!

Morgan · 06-02-2004, 08:01 PM

if it doesnt get enough tickets bought, do you get your money back?

herbal logic · 06-02-2004, 08:02 PM

Quote:

Originally posted by ModelPerfect
How long can "a very long time" be?!? They say they only launched May 21, 2004!

tfct has been a major discussion on penny stock boards for at least a year. They have their hands in other things, the launch of prizewise is speculated to take the stock into the dollar range and off the pinks.

herbal logic · 06-02-2004, 08:03 PM

Quote:

Originally posted by Ganjasaurus
if it doesnt get enough tickets bought, do you get your money back?

you get your ticket back

ModelPerfect · 06-02-2004, 08:10 PM

Alexa rating for Prizewise: 304,770 (Ebay is 14)
Time to accumulate enough tickets: 185 days
Cost: 17%, plus 10% to the reserve which they add themselves to cover the free coupons = 27%

Why would anyone want to committedly hold on to something like a car for over 6 months, meanwhile having it depreciate, while they wait to see if enough tickets are sold? And with a traffic rating of only 304,770, it's very unlikely enough tickets would be sold. And then, they lose 27% of the price in commissions? I think I'll stick with Ebay.

ModelPerfect · 06-02-2004, 08:12 PM

Quote:

Originally posted by ModelPerfect
Alexa rating for Prizewise: 304,770 (Ebay is 14)
Time to accumulate enough tickets: 185 days
Cost: 17%, plus 10% to the reserve which they add themselves to cover the free coupons = 27%

Why would anyone want to committedly hold on to something like a car for over 6 months, meanwhile having it depreciate, while they wait to see if enough tickets are sold? And with a traffic rating of only 304,770, it's very unlikely enough tickets would be sold. And then, they lose 27% of the price in commissions? I think I'll stick with Ebay.

No offense meant, of course...just my

Colonel Angus · 06-02-2004, 08:12 PM

sounds pretty cool

herbal logic · 06-02-2004, 08:14 PM

Quote:

Originally posted by ModelPerfect
Alexa rating for Prizewise: 304,770 (Ebay is 14)
Time to accumulate enough tickets: 185 days
Cost: 17%, plus 10% to the reserve which they add themselves to cover the free coupons = 27%

Why would anyone want to committedly hold on to something like a car for over 6 months, meanwhile having it depreciate, while they wait to see if enough tickets are sold? And with a traffic rating of only 304,770, it's very unlikely enough tickets would be sold. And then, they lose 27% of the price in commissions? I think I'll stick with Ebay.

well, thats why you set the price of to auction at 27% or more over the price. Thats the beauty.... if it takes off you could be selling stuff after the fees and still making more than msrp.

emthree · 06-02-2004, 08:17 PM

I had a similar idea to this once, the potential is endless for this one

Greed allways takes over for someone looking to win....

Lets see if they go bankrup when eBAY sues them for using their name

herbal logic · 06-02-2004, 08:18 PM

I can see airlines especially benefitting from this. Margins are shitty normally..... but Id throw a few bones on a hawaiian vacation that really costs 1000 but is a 2000 ticket auction.

serious · 06-02-2004, 08:20 PM

The idea is great, I hope it takes off in a big way, I wouldn't mind putting a dollar or two down on a lottery for a bmw.

Not to mention the possibilty for selling things, look at those prices, probably more than 2x what you could get it for on ebay, if this takes off you could list your products and sell them within a week and collect much bigger profits than ebay.

How do you buy some of this stock?

herbal logic · 06-02-2004, 08:21 PM

Quote:

Originally posted by serious

How do you buy some of this stock?

tfct.pk

serious · 06-02-2004, 08:22 PM

Quote:

Originally posted by ModelPerfect
Alexa rating for Prizewise: 304,770 (Ebay is 14)
Time to accumulate enough tickets: 185 days
Cost: 17%, plus 10% to the reserve which they add themselves to cover the free coupons = 27%

Why would anyone want to committedly hold on to something like a car for over 6 months, meanwhile having it depreciate, while they wait to see if enough tickets are sold? And with a traffic rating of only 304,770, it's very unlikely enough tickets would be sold. And then, they lose 27% of the price in commissions? I think I'll stick with Ebay.

Of course now the site is kind of useless since theres hardly anyone buying tickets, but if it takes off and cars are selling within a couple of weeks for double what you would pay at the dealer, imagine the possibilities.

jeffs · 06-02-2004, 08:24 PM

When I looked at the site, most of the items required about twice the amount of tickets that they're worth. If I put a $500 camera on the site and ask for 1000 tickets, I could just ask a friend to buy 501 tickets and then have 499 tickets sold to other people. If my friend won the camera (he would obviously have the best chance), we would have the camera, his $501, and an additional $499. If he happened to lose, we would have his $501 plus the $499 the other people gambled. Even if we put the camera up for $500 and bid $250, we would still lose nothing. Since the site only takes 17% of the money, and we would statistically win 50% of the time, wouldn't this website be easy to cheat?

herbal logic · 06-02-2004, 08:24 PM

Quote:

Originally posted by serious
Of course now the site is kind of useless since theres hardly anyone buying tickets, but if it takes off and cars are selling within a couple of weeks for double what you would pay at the dealer, imagine the possibilities.

empowers the seller without the buyer giving a shit

ModelPerfect · 06-02-2004, 08:24 PM

Quote:

Originally posted by herbal logic
well, thats why you set the price of to auction at 27% or more over the price. Thats the beauty.... if it takes off you could be selling stuff after the fees and still making more than msrp.

But you still have to sit on your merchandise for 6 months while it depreciates and before you can try to sell it anywhere else. That'll throw off tons of sellers right there. With Ebay, you're committed for only 1-10 days.

Honestly, what do you think the chances are of that 2004 Dodge Viper SRT-10 getting 139,999 tickets bought with only a traffic rating of 304,770? And if it doesn't sell, the 2005's are already on the market with the 2006's coming soon. Your $85000 Viper can now only be sold for maybe $65,000-70,000. Not to mention the fact that you're paying insurance for that car for that 6 months.

06-02-2004, 07:05 PM	#1
herbal logic Confirmed User Join Date: Feb 2004 Posts: 1,172	the next ebay? Ive been reading about this company for a very long time on stock message boards. (TFCT) Basically, you set the price for an auction above the retail price. And then people use tickets to enter a lotto for the item. Once the number of tickets is reached to satisfy the auction (each ticket = $1, so the # of tickets needed is = to the price you set) a lottery is held and whoever has the winning ticket wins. anyways, was messing with this a little tonight ($15 worth) and it was kinda fun. Might catch on. heres the link http://www.prizewise.com/huh.asp

06-02-2004, 07:10 PM	#5
SeTec Confirmed User Join Date: May 2004 Location: CA Posts: 440	what happens if not enough tickets are bought? __________________ ICQ # 916111

06-02-2004, 07:14 PM	#8
Oracle Porn Affiliate Industry Role: Join Date: Oct 2002 Location: Icq: 94-399-723 Posts: 24,433	thats bs...they make way too fucking mcuh profit. __________________

06-02-2004, 07:17 PM	#10
PrivateEye Confirmed User Join Date: Mar 2003 Location: Dirty South Posts: 1,784	That wont affect ebay __________________ Arkansas Escort Ads

06-02-2004, 07:31 PM	#16
riosluts Confirmed User Join Date: Sep 2003 Posts: 5,250	I doubt this will be a big hit. Some guy will buy like 5 tickets for $5 and wins a car while some guy bought 1000 tickets and wins nothing. __________________

06-02-2004, 07:09 PM	#3
nathan_f Confirmed User Join Date: Sep 2003 Location: Think of me as Chomsky with dick jokes. Posts: 3,983	hmm, that's pretty cool..

06-02-2004, 07:09 PM	#4
jdog31 Confirmed User Join Date: Apr 2004 Posts: 186	seems illegal

06-02-2004, 07:10 PM	#6
twistyneck So Fucking Banned Join Date: Jan 2002 Location: Hanging by the neck until dead. Posts: 4,660	Cool idea.

06-02-2004, 07:12 PM	#7
Alex So Fucking Banned (YEA!!) Join Date: Jun 2004 Posts: 10,963	How is this like ebay? In ebay you buy shit. This is one big ass raffle. And in ebay, only the person who gets the top bid has to pay. Here everyone pays. Exact oppisit of ebay

06-02-2004, 07:20 PM	#11
FlyingIguana aspiring banker Join Date: Mar 2002 Location: toronto Posts: 10,870	interesting, but they have a ton of growing to do in order to be half the size of ebay. even if it catches on and turns out to be successful, i highly doubt they'll get anywhere near ebay's market cap.

06-02-2004, 07:24 PM	#12
Alex So Fucking Banned (YEA!!) Join Date: Jun 2004 Posts: 10,963	I think they will grow big and quick Get a car for $1 How many people is that bound to attract

06-02-2004, 07:25 PM	#14
EviLGuY So Fucking Banned Join Date: Apr 2003 Location: malta Posts: 12,745	Yeah thats an interesting idea anyways.

06-02-2004, 07:38 PM	#21
herbal logic Confirmed User Join Date: Feb 2004 Posts: 1,172	21st Century's prizeWise.Com Growth Accelerates LAS VEGAS, May 21, 2004 (BUSINESS WIRE) -- Earlier today, prizeWise's president, Steve Rinehart, announced that membership in the website, http://prizeWise.com, was growing at the rate of one every 8 minutes. Since that announcement, growth has accelerated to the rate of one per minute. Additionally, property has been added to the sweepstakes pool, making the total value as of the issuance of this release at $7.3 million, and increase of $2.3 million from the announcement of earlier today.

06-02-2004, 07:40 PM	#22
EviLGuY So Fucking Banned Join Date: Apr 2003 Location: malta Posts: 12,745	Here is what happens if you dont sell enough tickets. "What if my item doesn't sell enough tickets? You have 185 days to accumulate ticket entries for your item. If in that amount of time you do not reach the target number of ticket entries you have requested, the raffle will be closed and tickets will be returned to all buyers. After your raffle has closed due to insufficient ticket entries, you will have the option to relist the item and start a new raffle."

06-02-2004, 07:42 PM	#23
Groove Confirmed User Join Date: Jan 2003 Posts: 3,852	That's a very clever concept. Might be a winner

06-02-2004, 07:43 PM	#24
herbal logic Confirmed User Join Date: Feb 2004 Posts: 1,172	1 user a minute, 60 users an hour, 1440 users per day, 10,080 per week, 40,000 per month (at current claimed rate)

06-02-2004, 07:44 PM	#25
EviLGuY So Fucking Banned Join Date: Apr 2003 Location: malta Posts: 12,745	Hey herbal.. put up your ref link and I will register under you.

06-02-2004, 07:45 PM	#26
Matt 26z So Fucking Banned Industry Role: Join Date: Apr 2002 Location: ¤ª"˜¨๑۩۞۩๑¨˜"ª¤ Posts: 18,481	This is nothing new, and the government has had their eye on it for awhile.

06-02-2004, 07:48 PM	#27
NickPapageorgio Confirmed User Join Date: Apr 2004 Location: NC Posts: 8,323	Ok where does my dollar go when there aren't enough tickets bought? Seems a little shady to me. Did I miss that part? __________________

06-02-2004, 07:55 PM	#32
detoxed vip member Join Date: Jan 2003 Posts: 17,798	seems pretty sweet. Now listen to this.. technically.. since this company is using the excuse of selling coupons for free tickets... couldnt a porn website sell coupons for adult dvd's and getting the free adult site membership? recurring coupons Last edited by detoxed; 06-02-2004 at 07:56 PM..

06-02-2004, 07:56 PM	#33
4Pics Confirmed User Industry Role: Join Date: Dec 2001 Posts: 7,952	neat concept, but how do you know it isnt fixed so their buddies win all the auctions?

06-02-2004, 08:01 PM	#36
Morgan Too lazy to set a custom title Industry Role: Join Date: May 2002 Location: Corona Del Mar, CA Posts: 10,520	if it doesnt get enough tickets bought, do you get your money back? __________________ PornstarPlatinum.com \| TransErotica.com

06-02-2004, 08:10 PM	#39
ModelPerfect Confirmed User Join Date: Nov 2003 Location: USA Posts: 2,862	Alexa rating for Prizewise: 304,770 (Ebay is 14) Time to accumulate enough tickets: 185 days Cost: 17%, plus 10% to the reserve which they add themselves to cover the free coupons = 27% Why would anyone want to committedly hold on to something like a car for over 6 months, meanwhile having it depreciate, while they wait to see if enough tickets are sold? And with a traffic rating of only 304,770, it's very unlikely enough tickets would be sold. And then, they lose 27% of the price in commissions? I think I'll stick with Ebay. __________________ Logan modelperfect [at] gmail.com http://www.modelperfect.com (Proudly hosted at www.webair.com )

06-02-2004, 08:12 PM	#41
Colonel Angus Registered User Join Date: May 2004 Location: Owned !! Posts: 43	sounds pretty cool

06-02-2004, 08:17 PM	#43
emthree Dialer Kingpin Join Date: Jun 2003 Location: New York Posts: 10,816	I had a similar idea to this once, the potential is endless for this one Greed allways takes over for someone looking to win.... Lets see if they go bankrup when eBAY sues them for using their name __________________ • Sell Patches & Pills •

06-02-2004, 08:18 PM	#44
herbal logic Confirmed User Join Date: Feb 2004 Posts: 1,172	I can see airlines especially benefitting from this. Margins are shitty normally..... but Id throw a few bones on a hawaiian vacation that really costs 1000 but is a 2000 ticket auction.

06-02-2004, 08:20 PM	#45
serious Confirmed User Join Date: May 2003 Posts: 2,594	The idea is great, I hope it takes off in a big way, I wouldn't mind putting a dollar or two down on a lottery for a bmw. Not to mention the possibilty for selling things, look at those prices, probably more than 2x what you could get it for on ebay, if this takes off you could list your products and sell them within a week and collect much bigger profits than ebay. How do you buy some of this stock? __________________ new search

06-02-2004, 08:24 PM	#48
jeffs Confirmed User Join Date: Oct 2002 Location: chair Posts: 135	When I looked at the site, most of the items required about twice the amount of tickets that they're worth. If I put a $500 camera on the site and ask for 1000 tickets, I could just ask a friend to buy 501 tickets and then have 499 tickets sold to other people. If my friend won the camera (he would obviously have the best chance), we would have the camera, his $501, and an additional $499. If he happened to lose, we would have his $501 plus the $499 the other people gambled. Even if we put the camera up for $500 and bid $250, we would still lose nothing. Since the site only takes 17% of the money, and we would statistically win 50% of the time, wouldn't this website be easy to cheat?