I’ll try to explain it.

It’s a real time auction site. It costs you $.60 every time you place a bid. Once the bid time gets down under a certain amount each subsequent bid adds time back onto the auction clock continuing the auction. Keep in mind that each time you bid it costs you $.60. If you don’t win the auction you are out $.60 times however many bids you make. Swoopo says “don’t worry every one is a winner”. If you lose you can use the money you have already invested through your constant bidding to buy the product at list price.

From the site:

“Enjoy the thrill of bidding but never leave Swoopo empty handed. You can still get the product even if you don’t win the auction. Any time during the auction, you can choose to buy the item at a discount equal to the amount of bids you’ve placed in that auction.”

How much money are these douchebags making? How many people just walk away from the $12 bucks they just laid down to bid on something 20 times? How many people is this fucking site going to bankrupt? It’s a classic all-pay auction and an addicts nightmare. It’s an online slot machine.

This country is so fucked. we have become nothing more than consumers. Cogs in the machine that keeps the rich on top. Am I overreacting?

Watch the auction for a 50″ LG here:

http://www.swoopo.com/auction/lg-50ps60-50-inch-1080p-plasma-hdtv/243107.html