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Author Topic: BitCoin auction on Listia  (Read 4181 times)
BeeCee1
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July 21, 2010, 01:49:39 AM
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I saw someone had mentioned Listia in a different thread.  I have decided to test the waters by auctioning 5 bitcoins on Listia.

http://www.listia.com/?r=135367
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Auction Ends: Sat July 31st 1:40 AM AZOST (Not sure what TZ that is, but it is 10 days from this post.)

Listia lets you auction off stuff you have for credits.  You can then use those credits to bid on other auctions.  No need for cash to change hands.  In some ways it is like craigslist but without freeloaders.  You get some credits just for signing up and at random other times.

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July 21, 2010, 02:52:14 AM
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What do freeloaders do on craigslist? Are listia credits pegged to the dollar?

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July 21, 2010, 02:19:52 PM
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What do freeloaders do on craigslist? Are listia credits pegged to the dollar?

On craigslist (this is strictly for the give away free section) someone can get as much as they want but never have to give any of their stuff away,  they pull value from the system (by taking free stuff) without adding any value (by giving stuff away).  On listia, you have to put up auctions of your own in order to get the credits you need to bid on other stuff.

Listia credits are not convertable to any other system (ie, not pegged to the dollar). You can use them exclusively on listia.  However, you can use them to get real things so they have value.  You are not allowed to auction cash but you can auction gift cards.  Based on the value of the items I see being auctioned I think the value of a credit on listia is somewhere between half a cent and a cent.

Interestingly, you can pretty easily convert bitcoins to and from cash but it is harder to convert them to "stuff".  Listia is the opposite, it is easy to convert between listia credits and "stuff" but hard to convert them to cash.  I think this makes them complementary systems, you can auction your bitcoins for points which you buy stuff with and you can auction stuff and use the points to bid on bitcoins.
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July 22, 2010, 08:26:08 AM
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What is the check on the managers? Why can't they just issue themselves credits?

Craigslist freeloaders are the people who actually buy stuff, is this right?

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July 22, 2010, 05:02:16 PM
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What is the check on the managers? Why can't they just issue themselves credits?
Listia credits are centrally controlled, the people who control it can do whatever they want, including give themselves credits.  This is like any other credit/money scheme with central control (and unlike bitcoin).  In fact, you can get credits at random times for doing things like checking in, listing auctions, giving feedback, etc.  Thus, there is inflation on Listia.

Craigslist freeloaders are the people who actually buy stuff, is this right?
As I mentioned in my second post, the freeloaders comment applies strictly to the "give away free" section of craigslist, so no, they don't actually buy stuff.
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July 22, 2010, 08:02:34 PM
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Okay, gotcha now.

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