Bryant G.
Good concept, dishonest business practices
Listia is a very good idea in concept. It deals in points rather than dollars, allowing people to exchange all kinds of items for others, some of which cannot be sold for money, such as digital movie codes, which is primarily what I use it for. While I appreciate the thoughtfulness of the system and the quality of the website, I cannot rate Listia well because of how they have chosen to manipulate the economy they have created and really screw over long time members. Below is a record of points that can be bought at Listia per dollar since early 2015. In a very brief span of time, this number has increased by over 1500%. That is great for new members who are just getting into the system but very bad for anyone who has been in it for a while. Take a look at the numbers below. 02/11/15 - 1000/$ 07/23/15 - 2750/$ 08/27/15 - 4000/$ 11/21/15 - 5800/$ 01/15/16 - 7500/$ 08/20/16 - 16700/$ What does this mean? Let's say I sold a movie for 1000 points on 2/11/15 when movies were generally going for 1000 points, or $1. If I immediately use those points to buy another movie also selling for $1, that's a nice even 1 for 1 trade. But what if I sat on those points until 8/20/26? Because new members at this point get 16700 points now for only $1, sellers, who are still interested in getting $1 worth of points for their movies will have raised prices to match the exchange rate. This means if I had sold 17 movies 2 years before for $1 in points each at that time, I would now only be able to get 1 movie today for $1 in today's points for those 17. That's a HUGE loss for people who do not immediately spend their points. In short, because Listia is steadily increasing the points that people can get per dollar, anyone who does not immediately spend their points is guaranteed to lose out, and fast. Their points are being devalued on a daily basis. Inflation is to be expected, but the rapidity at which Listia is doing this by playing with the exchange rate, is really dishonest. That said, I still use Listia, and it is good for some purposes, but I am readily aware of how much I'm going to be losing over the next several months. Be sure you enter into dealings on there with this in mind. UPDATE 5/14/2018 And just when I thought my savings were safe... Listia has just switched from a credit system to XNK, which in itself is a positive move. The problem is, they exchanged credits for XNK as if XNK was worth 14 cents. The actual market value is about 5 cents as of this writing. What does this mean? I just lost two thirds of the value of my credits. Seriously Listia? Listia has its usefulness. However, if you use it, EXPECT for them to find new ways to rob you of whatever you earn. This has just happened too many times to do expect anything else. Use at your own risk.


