Entrecard Black Market
Today Entrecard announced that members now can purchase entrecard credits. Currently 1000 credits are going for $9.50 inside the members section at Entrecard website. But I think they are quite over-priced. Because there are very attractive offers in eBay if you want to buy Entrecard credits. (see below)
Creation of Black Market?
As you can see, at eBay 7500 Entrecard credits are going for $17 only. And of course there are some even better offers too, like this one 20,000 credits with starting price of $0.41 cents only. I am sure it will catch high price before the auction ends in 4 days, but it will definitely be better offer than what Entrecard is offering.
It’s like the money market, where Government says our money is equivalent to this much USD. But in actual case, the value of the local currency is much lower (rarely higher) in the black markets.
So what is the solution?
So, what could Entrecard do to establish the real price of Entrecard credits? How much does 1000 Entrecard credits really worth? I think Entrecard could come up with their own bidding system, where users could bid for it. Moreover, this kind of system would allow other members to sell their credits too. Otherwise, at the moment only Entrecard is making money. And those high earning members do not know what to do with their credits. Of course, only solution would be to sell their credits at eBay for a very cheap price. Almost like getting rid of them.
What do you think Entrecard should do? Your thoughts on this…
Ping: entrecard.com/blog/
Update: Entrecard purchases credits from high earning members and sells back to the community.
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By Glenn on Jun 4, 2008
Entrecard is killing their own business tsk tsk
By Lee Doyle on Jun 4, 2008
Its just not just about price. It is also about trust and knowing who you are buying from.
The price of credits will go up! It will change in the next few months when the new features come into play.
By Rajaie AlKorani on Jun 4, 2008
It seems everyone is talking about entrecard these days. I personally began my blog a couple of days ago and didn’t bother using it. To me, it’s just a waste of time.
By seo blog on Jun 5, 2008
Soon you will be able to sell the credits back to EC. They are just trying to work out the best price etc. Everything should eventually settle down.
By Tom - IncomeDiary.com on Jun 5, 2008
I read somewhere today that you can sell your credits back to entrecard for $7.50 per 1000
By Ian on Jun 6, 2008
I know I have a pile of credits which I find hard to use in the normal course of using Entrecard to buy ads etc. I’d like to be able to sell some back to EC rather than waste them on buying ads just for the hell of it.
By PPC on Jun 6, 2008
Virtuaql credits need to be backed by something tangible, like gold….hahahah….jokes aside, the lack of tangible gold backing world currencies is what is part of the planet’s economic woes.
By Make Money Blogging on Jun 6, 2008
How many people will actually buy credits when they can be earnt easily for free?
By PS3 on Jun 7, 2008
Earnt easily for free doing what exactly?
By Forumistan on Jun 7, 2008
Well, I am gonna try it soon.
By FF Productions on Jun 7, 2008
I agree with Glenn (first comment), “Entrecard Suicide” is how I call latest EC giveaway. They want economy based system and yet they giveaway millions of credits to members for free! Smells like inflation to me, which means credits value close to zero… Just blogged about it.
By Carnival of Making Money Online on Jul 9, 2008
The concept of a black market in entrecredits is ridiculous. The black market has the real price. Entrecard sells credits at a markup on their website by exploiting information asymmetries.