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Any interest in a Horse Trading Competition?
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<p>[QUOTE="stevereecy, post: 4869731, member: 19884"][ATTACH=full]1175899[/ATTACH]</p><p><br /></p><p>Remember the guy who started out with a paper clip and started buying and selling until he bought a house?</p><p><br /></p><p>Anyone interested in a horse trading competition? It would be based on the honor system and you'd report your results. The object of the competition would be to start with a set amount of your own money (we'll set it at up to $100), and then buy a coin (or more than one coin) with the express purpose of reselling it for a profit. Then use the new (greater) amount of money to buy more stuff and repeat the process. Who can "flip" your way to greatness?</p><p><br /></p><p>What can you win? Bragging rights...that's all.</p><p><br /></p><p>There would be few simple rules, like:</p><p><br /></p><p>1. You must show your progress along the way (we get to see the coins!).</p><p>2. You can't "loan yourself money until your coin sells" when you see a bargain while you're waiting for it to sell. You need to sell what you have first and hope that bargain is still there when you have the cash to buy it.</p><p>3. You are allowed to add your own funds to stretch for a coin, but no more than 25%. For example, if you have $100 to spend and you see a coin for $120, you can add $20 to your spending money as long as you subtract that $20 back out after you sell.</p><p>4. We'd have a leaderboard showing your budget to buy a coin to keep track of who is winning the race. Example, if you take $80 of your $100 budget to buy a coin, and the coin is worth $150, you can not report a "score" of $170 until you actually sell the coin. Then your score would stay on the leaderboard at the current dollar amount until your next buy and sell occurs.</p><p>5. Ebay, paypal, and shipping fees must be accounted for.</p><p>6. If you want to join this competition late, your initial budget must be equal to the person in last place who is still reasonably active in the competition.</p><p><br /></p><p>Who's interested in joining? Think you're good at flipping?[/QUOTE]</p><p><br /></p>
[QUOTE="stevereecy, post: 4869731, member: 19884"][ATTACH=full]1175899[/ATTACH] Remember the guy who started out with a paper clip and started buying and selling until he bought a house? Anyone interested in a horse trading competition? It would be based on the honor system and you'd report your results. The object of the competition would be to start with a set amount of your own money (we'll set it at up to $100), and then buy a coin (or more than one coin) with the express purpose of reselling it for a profit. Then use the new (greater) amount of money to buy more stuff and repeat the process. Who can "flip" your way to greatness? What can you win? Bragging rights...that's all. There would be few simple rules, like: 1. You must show your progress along the way (we get to see the coins!). 2. You can't "loan yourself money until your coin sells" when you see a bargain while you're waiting for it to sell. You need to sell what you have first and hope that bargain is still there when you have the cash to buy it. 3. You are allowed to add your own funds to stretch for a coin, but no more than 25%. For example, if you have $100 to spend and you see a coin for $120, you can add $20 to your spending money as long as you subtract that $20 back out after you sell. 4. We'd have a leaderboard showing your budget to buy a coin to keep track of who is winning the race. Example, if you take $80 of your $100 budget to buy a coin, and the coin is worth $150, you can not report a "score" of $170 until you actually sell the coin. Then your score would stay on the leaderboard at the current dollar amount until your next buy and sell occurs. 5. Ebay, paypal, and shipping fees must be accounted for. 6. If you want to join this competition late, your initial budget must be equal to the person in last place who is still reasonably active in the competition. Who's interested in joining? Think you're good at flipping?[/QUOTE]
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