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by theswapdaddy
4881 days ago
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Think about it this way... A lot of people try to sell their iPhone 4S's or 4's when the new model came out. So what did they do? They went to eBay, Amazon, Craigslist, Gazelle, etc. to sell it. Once sold, they used the money to pay for it plus the difference. Think of that whole experience done on one site... Swapidy. You sell your stuff to us, get paid instantly, and buy whatever you want right away. As for the remaining balance goes. New products come out all the time and more often that not, you will purchase a new product in the future, right? You can use that currency that was left over to buy the next best thing whenever it comes out. And better yet, we will always be updating our product lines. So there will always be something new to buy. So think of it as savings in your bank that's used for something else down the road. The value is never going anywhere... it always stays the same ($1 = 10 Honey). Let me know if you have any other clarifications I can make. -Adam |
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> New products come out all the time and more often that not, you will purchase a new product in the future, right?
That's assuming a lot. New products come out all the time, however I have no guarantees that your marketplace will have another product that I want at any time. If I have a balance of honey I'm taking a risk that I will find continued utility in your marketplace. That same risk doesn't exist if I sell or trade my goods for real currency instead of virtual currency.
> So think of it as savings in your bank that's used for something else down the road. The value is never going anywhere... it always stays the same ($1 = 10 Honey).
It's nothing like savings in a bank. My bank pays me interest and allows me to withdraw money at any time for any purpose. Converting money, or my used goods, to honey locks me into your ecosystem and has a significantly smaller value to me in utility and opportunity cost than actual cash. Additionally, if my bank goes out of business my deposits are insured by the FDIC. If swapidy goes out of business the honey evaporates into thin air and it's just a loss.