4 ms·
#2 is definitely an interesting suggestion. I don't quite get the black market thing though. If they can't trade the points for dollars, what's the motivation
by trefn 17y ago
#2 is definitely an interesting suggestion.
I don't quite get the black market thing though. If they can't trade the points for dollars, what's the motivation for creating useless auctions? Doesn't seem like a way to launder money.
- zackattack 17y ago1) Nokia cell phone is up for bids. Winning bid will be 1000 points. 2) I want to buy it. You don't. 3) The Nokia cell phone is worth $90 to me. It's worth $60 to you. 4) You have 1000 credits, from selling random stuff. 5) I could either buy $100 of credits and receive 1000 points, or I could give you $60 and receive 1000 points, making your life more convenient (you don't have to buy the phone, and then ebay it (credits->item->ebay->dollars ==> credits->dollars) 6) The best way to get 1000 points off of you is to have me PayPal you $60, and then for me to create an auction for some obscure useless good, and have you bid 1000 points for it. This strategy would require you to have a confederate to bid 999 points, although this is trivial if a black market is already established. 7) Alternatively, Listia could price its currency near to its sell price. This makes it unappealing to execute laundering schemes for small margins.