BSEIndia: All Stock Market News: [sharetrading] A novel buisness idea

Saturday, April 10, 2010

[sharetrading] A novel buisness idea - a new satta......

There is this web site - http://buyalmost.com/index.html
The idea is simple. It is an auction site with a difference. Only that to participate in an auction, one has to buy bid points. For every bid place by a click, that many points (abt 30) is deucted from the account and is NON- REFUNDABLE. So for 900 RS, one has 30 bids. Now the game is that for every bid, the time limit it runs is count down (15 seconds) and rise in next bid amount is 10 paisa. So if there is another bidder in line, or if the software is so rigged, one is out bid every time. And in no time, without realisation, you loose your money, as the bid a mount is raised. (Say along the way to Rs 10000, the bidding stopped at 8000, then the final bidder pays 8000 and the remaining bidders 30*8000/0.1=24,00,000.Bids placed by all other bidders are debited from their BuyAlmost account unless they want to adjust their placed bids against the MRP of the product as per the Buy Now feature.)
So a money multiplier. Fow 10K poduct, return 25L.... WOW..... No extra effort needed except fuel the greed in others....

The fine print hardly mentions that the bid amounts are NON-REFUNDABLE.
So for a product of 10000, if the bidding starts at Rs 1, just calculate Rs 30 for every 10 paisa increament. It is a BONAZA.......

Please alert all freinds to this new form of swindling and do not be enamoured by the hype............ Under no circumstances buy the credits. Sure way to loose money.......... Or for a new venture one may try sponsoring or starting one...........

So for those who think, it is a site where one gets bargain discounts, be the eternal optimist. It matches our trading psyche. I wonder if shares of this company is available????????????