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Wednesday, May 31, 2006

Baterbee scam - please

His description misses out that fact that you choose how many points to place your items online for.
"You're in Charge! — You decide how many points you want for each item"

The only economically worrying facet is this injection of points that happens when new people join up, it's like Moscow printing more money to prop up their economy in the middle part of the 20th century.
"* 5 points and $1 placed in your account to get free item on BarterBee."
Flankk says "Points keep adding to the system causing perpetual inflation" is incorrect or certianly overestimating the point, you get 5 when you sign up the rest are accrued by an input of goods, it's not points for nothing in the long term.

Barterbee is a simple online trading system that to all intents and purposes is using that $1 for shipping and yeah ok scrappig something off the top to pay for the sites and listings etc.
"It's Easy! — We provide BarterBee shipping mailers."

flankk's argument "Essentially, BarterBee cons victims into trading their DVDs for something valueless, points; they promise the points can be exchanged for something valuable"
Is implying that the idea you can't exchange your points is, well, wrong.

I believe, their revenue stream must be advertising.

don't digg this story bury it.

For now I will continue to apply my mind to the ideas in flankk's blog but I believe it's a lot of FUD. Really the issue as I see is that you are locked into this faux currency keeping you at Baterbee, however you know that when you sign up, it's not a con... you know like Necter points, you know you can exchange them in like 5 stores on the planet... ok and underestimation maybe.


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