My friend said he'd found an iPod Nano for £60 on MSN. I took a look at the site and I immediately knew it looked a bit dodgy. It's electricalvalley.co.uk. They seem to offer a large range of dirt cheap stuff. Must be a scam right? Has anyone bought anything from that site?
Scam?
- Thread starter XEN
- Start date
karling07
Daemon Poster
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- 1,099
Oh god, avoid!
Terms & Conditions:
2. Prices are based on a 5 buyer basis. This means once you have purchased a certain product, your name will be put on a list, and once 4 more sales are made of that product your item will be dispatched. (This does not mean that you have to purchase 4 items. It simply means that once 4 more purchases of that item, by anyone, are made your item will be dispatched).
It's the pyramid scam.
Terms & Conditions:
2. Prices are based on a 5 buyer basis. This means once you have purchased a certain product, your name will be put on a list, and once 4 more sales are made of that product your item will be dispatched. (This does not mean that you have to purchase 4 items. It simply means that once 4 more purchases of that item, by anyone, are made your item will be dispatched).
It's the pyramid scam.
David Lindon
Golden Master
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- 15,233
Its a Matrix scheme. Avoid
Yeah, I should've know.
For people that don't know:
The idea of a matrix scheme is you buy one then you have to persuade others to buy one so you can receive yours. Take the nano for example: Say I buy one for £60, then I have to persuade 4 more people to spend £60 to get mine. Then they have persuade people to spend £60... and so it continues. Well, thats the general idea anyway, there are lots of variations. But, while all this is happening the company is making about £300 (£60x5). So they make a large profit, while the consumer thinks they are making a large saving. Most of the 'Get an xbox 360 cheap' on eBay things are just links to those sites . Most people have wizened up now though luckily...
I think they are also known as pyramid schemes.
For people that don't know:
The idea of a matrix scheme is you buy one then you have to persuade others to buy one so you can receive yours. Take the nano for example: Say I buy one for £60, then I have to persuade 4 more people to spend £60 to get mine. Then they have persuade people to spend £60... and so it continues. Well, thats the general idea anyway, there are lots of variations. But, while all this is happening the company is making about £300 (£60x5). So they make a large profit, while the consumer thinks they are making a large saving. Most of the 'Get an xbox 360 cheap' on eBay things are just links to those sites . Most people have wizened up now though luckily...
I think they are also known as pyramid schemes.
I forgot...Similar threads
