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>Any questions, feel free to ask How do you make money?

mathgeek 13y ago
Under the "old" system, there was a $1-$2 fee per trade. Back then, we were doing automatching. You listed what you had, and what you wanted, and the system would match up buyers with sellers (which is what you paid the dollar for). Now, the currency (credits) can be purchased at a rate of $1 per 100 credits. You don't have to buy any, as you can get them in return for the games you want to get rid of, but it's an option if you see something you want to grab right now at a good price. There's also a limited currency buyback program that anyone can use once a month if they don't see any games they want, but want to get case back. That's under maintenance right now, but will be launching again next week.
- jere 13y ago
  Your answer is a little unclear. If you're essentially printing money (i.e. "credits") and then guaranteeing to buy them back at the same rate, it seems like you would net nothing. Unless you're counting on credits never getting cashed back in or making interest on the deposits. From your FAQ, it seems like the profit comes in the form of a $1 buyback transaction fee. Am I mistaken?
  - mathgeek 13y ago
    Sorry, hope this clarifies. Not every credit that's sold ends up getting cashed out (it's a limited program as far as how many sales worth of currency you can get in cash). That $1 difference helps, but in the end the currency sold is still the main revenue. The buyback is merely a way of ensuring that if you sell games but can't find anything to get back for them, you can get cash. That's limited to 5 games/month.
    - MichaelGG 13y ago
      So the model is hoping people end up with leftover credits? Isn't this similar to a stored-value model, with state laws mandating that any leftover credit has to be returned? I must have misunderstood.
      - mathgeek 13y ago
        No, it's simply a model where you continue trading those credits for games. Naturally there is some risk involved, but you can simply buy games to spend down your balance.
- deleted 13y ago
  [deleted]

Under the "old" system, there was a $1-$2 fee per trade. Back then, we were doing automatching. You listed what you had, and what you wanted, and the system would match up buyers with sellers (which is what you paid the dollar for). Now, the currency (credits) can be purchased at a rate of $1 per 100 credits. You don't have to buy any, as you can get them in return for the games you want to get rid of, but it's an option if you see something you want to grab right now at a good price. There's also a limited currency buyback program that anyone can use once a month if they don't see any games they want, but want to get case back. That's under maintenance right now, but will be launching again next week.

jere 13y ago
Your answer is a little unclear. If you're essentially printing money (i.e. "credits") and then guaranteeing to buy them back at the same rate, it seems like you would net nothing. Unless you're counting on credits never getting cashed back in or making interest on the deposits. From your FAQ, it seems like the profit comes in the form of a $1 buyback transaction fee. Am I mistaken?
- mathgeek 13y ago
  Sorry, hope this clarifies. Not every credit that's sold ends up getting cashed out (it's a limited program as far as how many sales worth of currency you can get in cash). That $1 difference helps, but in the end the currency sold is still the main revenue. The buyback is merely a way of ensuring that if you sell games but can't find anything to get back for them, you can get cash. That's limited to 5 games/month.
  - MichaelGG 13y ago
    So the model is hoping people end up with leftover credits? Isn't this similar to a stored-value model, with state laws mandating that any leftover credit has to be returned? I must have misunderstood.
    - mathgeek 13y ago
      No, it's simply a model where you continue trading those credits for games. Naturally there is some risk involved, but you can simply buy games to spend down your balance.
deleted 13y ago
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