pinecone2654
Senior Member
if any of you have noticed those ads for Swoopo on this site... what a concept eh? they've really thought of a smart way to make serious moolah off of their userbase here.
Here's how they operate. They have lots and lots of short-lived auctions, and when someone bids on something, the price goes up $.15. Each bid costs each user $1, so when something sells for $20, Swoopo makes about $133.33, plus the 20$ that the winner has to pay. Everyone that did bid but didn't win losses money because all their bids cost them $1 each..... I suppose it's not a total scam because there are some winners, but it produces so few winners and so many losers... what a crazy site. comments? success stories? tragedies? soup?
Here's how they operate. They have lots and lots of short-lived auctions, and when someone bids on something, the price goes up $.15. Each bid costs each user $1, so when something sells for $20, Swoopo makes about $133.33, plus the 20$ that the winner has to pay. Everyone that did bid but didn't win losses money because all their bids cost them $1 each..... I suppose it's not a total scam because there are some winners, but it produces so few winners and so many losers... what a crazy site. comments? success stories? tragedies? soup?
