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by ebbv
3589 days ago
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There's a lot more to these sites than this article goes into. I'll say right up front; these sites are total scams who target poor people who usually have a poor understanding of economics, statistics and math. One of the features of these sites is that they will put up credits on the site as an item for bid. So the person who spent "$3500" bidding might have won a "10,000 site credit" auction at some point for $190.00 "winning bid" where a bunch of people actually spent "$50,000" on it. Which in turn might have had some site credits involved, etc. These sites have been around for a while now and the fact that they've never been regulated is a great sign of how dysfunctional our government is and its inability to protect poor people from being ripped off. |
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