Effing Genius

[bradleigh]

http://www.quibids.com/index.php

At the time of this post, the guy who runs that site has made $1120 off of the iPad that's for sale.

[steve dave]

lol, rubes just handing him money.  Also, guarantee he's bidding on stuff himself that hasn't gotten many hits to keep it live and not have to send it. 

[Saulbadguy]

Yeah, how does this scam work?

[yoga-like_abana]

looks exactly like that swoopo site http://www.swoopo.com

[steve dave]

!!!!!:  We should start one

[steve dave]

Yeah, how does this scam work?

Rubes buy "bids" for 60 cents each.  Each bid raises the price of the item by 1-10 cents depending on what it says in the corner.  If the ticker gets to zero and you were the last person to bid you get the item for the price it was bid up to.  So, if the price is $5 and each bid added 1 cent he has made $305.  Every time someone bids the clock resets so a bunch of people bid right at 1 second and the guy just counts money.

[WillieWatanabe]

know a couple people that use that site. They get stuff for cheap and don't usually get screwed. But apparently it would be addicting.

[Saulbadguy]

Yeah, how does this scam work?

Rubes buy "bids" for 60 cents each.  Each bid raises the price of the item by 1-10 cents depending on what it says in the corner.  If the ticker gets to zero and you were the last person to bid you get the item for the price it was bid up to.  So, if the price is $5 and each bid added 1 cent he has made $305.  Every time someone bids the clock resets so a bunch of people bid right at 1 second and the guy just counts money.

So it's kind of like a raffle but with much worse odds?

[steve dave]

Yeah, how does this scam work?

Rubes buy "bids" for 60 cents each.  Each bid raises the price of the item by 1-10 cents depending on what it says in the corner.  If the ticker gets to zero and you were the last person to bid you get the item for the price it was bid up to.  So, if the price is $5 and each bid added 1 cent he has made $305.  Every time someone bids the clock resets so a bunch of people bid right at 1 second and the guy just counts money.

So it's kind of like a raffle but with much worse odds?

Yeah, it's like a raffle that will end in 30 seconds but doesn't if someone buys a raffle ticket at the last second...and then only that person can win....unless someone else buys one before time expires and re-sets the clock again. 

[Saulbadguy]

Yeah, how does this scam work?

Rubes buy "bids" for 60 cents each.  Each bid raises the price of the item by 1-10 cents depending on what it says in the corner.  If the ticker gets to zero and you were the last person to bid you get the item for the price it was bid up to.  So, if the price is $5 and each bid added 1 cent he has made $305.  Every time someone bids the clock resets so a bunch of people bid right at 1 second and the guy just counts money.

So it's kind of like a raffle but with much worse odds?

Yeah, it's like a raffle that will end in 30 seconds but doesn't if someone buys a raffle ticket at the last second...and then only that person can win....unless someone else buys one before time expires and re-sets the clock again. 

Why didn't I think of this?