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I bet that the unsuspecting Mechanical Turk workers, who traded their 6000 Stellars, did not realize that this was a one-time deal, rather than a repeatable rev
by SandroG 12y ago
I bet that the unsuspecting Mechanical Turk workers, who traded their 6000 Stellars, did not realize that this was a one-time deal, rather than a repeatable revenue opportunity.
Mechanical Turk workers are used to low-paying and high-volume jobs. The $1.00 fee is very attractive for the steps involved, if this was a repeatable job. It's only natural to assume that every worker would attempt to create another Stellar account and retry the steps anew, only to be confronted with a an error after the first attempt.
And, unbeknownst to them, if Stellar does become a success, those workers will forever be left on the sidelines. Considering that Stellar has the potential to include the world's underprivileged into the global economy, often without bank accounts or identities, it's a shame that we are the first to take advantage of them.
- Aqueous 12y agoOr Stellar flops and the guy just spent 24 hours of his life and $50 or so dollars to accumulate a bunch of useless not-even-paper. It could go either way. The mechanical turk workers implicitly made the bet that stellars will not be worth much more than they are worth today in the future - and were thus, reasonably, willing to trade nothing for real actual money that's there right now.
- SandroG 12y agoThose same workers could have traded in their 5000 Stellars for $50 on Stellar Forums. Everett was actively selling 5K Stellars at $50 [http://forum.stellar.org/t/i-want-to-buy-your-stellars-50-for-your-5-000/520/32 http://forum.stellar.org/t/i-want-to-buy-your-stellars-50-fo...], while buying them at $1 on Mechanical Turk.
- ghshephard 12y agoOtherwise known as "Arbitrage" and something that any commodity, let alone currency faces in the first 30 seconds on the market. If it wasn't Everett, there is a 100% guarantee that if there was money to be made, that any one of another 10,000 people would be immediately utilizing this mechanism.
- Aqueous 12y agoOk - think of $49 as the cost of not having to figure out what Stellar is and where the opportunity to sell them at a higher price exists.
- wyager 12y agoThey probably never would have heard of stellar in the first place, if not for this mechanical turk job. Most people aren't even aware of Bitcoin, let alone all the random pump-and-dump schemes floating around.