Is this a Matrix???

[tcb1969a]

I happened to think about something that happened here in Tennessee about 6 months or so ago. It was a couple that were selling there house. Now this wasn't a traditional way of selling there house and they obtained a lawyer to write up the technical stuff on it and then advertised it in the paper and I believe on the internet. In fact it was so unusual that it became a front page story if memory serves me correctly.

Basically this was how it worked. They put ads out stating they were giving away there house to one person who wrote an essay that they liked. The essay must state why they think that they deserve the house. The person who wrote the best essay would win the house. Now of course there was an entry fee in order to participate. And there were no free entrys. There idea was to raise enough money and then some to purchase another house in another state. And there idea was a hit. One person won the house. And the couple who gave away the house received a lot of money from the entrys to purchase another house elsewhere.

Now was that a Matrix? One person got a gift off of other people who put in money.....hmm

[Arzel]

That sounds like a lottery, or contest, nothing like a matrix. If the first person that wrote the essay yes, your example, no. I would like to read that story, I heard a similar story about a couple that tried to do something like that and had to refund everyone their money becuase it was not a legal lottery.

[northstar5757]

Ya definetly sounds just like a contest nothign special. Of course you might need proper permits to run such a contest not sure. Anyways the basis of a matrix or ponzi is that investers are paid out by future investers.

[tcb1969a]

Well they had a lawyer draw up the whole rules and such, I just wish I had kept the article. It was in the Tennessean I believe. I will see if I can get a copy of it......

[concerned]

It does sound like a lottery. This is deffinately not a Matrix. The only way that it would have been a matrix is if the first person that signed up got the house based ONLY on the fact that they were first.

That is why I consider a matrix a ponzi scheme. The reason that ponzi schemes are illegal is because of the way they rip off someone. Even if some people are trying to be legit about the way they do them. The reason that they are illegal, and the reason that the matrix will eventually be deemed illegal (once the courts have their way with them) is because of the possibility of corruption. I know some of you say that you are trying to be legit, but the fact remains that these schemes can be very easily made to rip people off. The way they do it is by signing up their friends as the first 10 or so people on the matrix. They can show that some people were cycled because it was designed for their buddies to win and nobody else. That is how they are able to easily run these things as nothing but a way to scam people out of their money.

Because they are subject to these con artist types of people, that is why the law will react by shutting ALL of them down (even the ones that are trying to be legit) because they need to make sure that there won't be any of the con artists out there.

[concerned]

It does sound like a lottery. This is deffinately not a Matrix. The only way that it would have been a matrix is if the first person that signed up got the house based ONLY on the fact that they were first.

That is why I consider a matrix a ponzi scheme. The reason that ponzi schemes are illegal is because of the way they rip off someone. Even if some people are trying to be legit about the way they do them. The reason that they are illegal, and the reason that the matrix will eventually be deemed illegal (once the courts have their way with them) is because of the possibility of corruption. I know some of you say that you are trying to be legit, but the fact remains that these schemes can be very easily made to rip people off. The way they do it is by signing up their friends as the first 10 or so people on the matrix. They can show that some people were cycled because it was designed for their buddies to win and nobody else. That is how they are able to easily run these things as nothing but a way to scam people out of their money.

Because they are subject to these con artist types of people, that is why the law will react by shutting ALL of them down (even the ones that are trying to be legit) because they need to make sure that there won't be any of the con artists out there.

[poorme]

The way they do it is by signing up their friends as the first 10 or so people on the matrix.


I also concern about this point. It is hard to trust someone that you don't know