Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Eric Wells who wrote (82935)	11/3/1999 12:44:00 PM
From: Bill Harmond	Read Replies (2) \| Respond to of 164684

ICGE is VERT's largest shareholder. Be very careful.

To: Eric Wells who wrote (82935)	11/3/1999 12:44:00 PM
From: KeepItSimple	Read Replies (1) \| Respond to of 164684

Proof positive that the investing public are more stupid than anyone imagined.. I thought this site was a parody, just like itulip.com. But apparently it is REAL. And these guys even advertise on Silicon Investor! Their business model is clear- they promise to double your money every single month. And that's it! 'Virtual' Stock Market Draws Lots of Real Money From Plungers Roseau, Dominica, Nov. 2 (Bloomberg) -- Stock Generation.com says it gets $35 million a week by asking visitors to its Web site a simple question: 'Would you like to double your money every month?' The Internet company says hundreds of thousands of people from more than 50 nations participate in its 'virtual' online stock exchange, buying and selling imaginary stocks -- 'the best investment for your money.' The Web site, based on the Caribbean island of Dominica, calls itself a 'game without losers.' It can point to some bewildered but happy players. Computer technician Jason Rockey of Clarkesville, Indiana, for instance, says he wired $3,000 to the site and now shows an online account balance of $90,000. 'Not too shabby for doing nothing,' said Rockey's message in an online forum. 'The way I look at it, it's some gambling game.' His big fear is a December collapse if people pull money out amid concern about the Y2K computer bug. Securities regulators are less entranced. They call Stock Generation.com a pyramid scheme, where money from new players pays off earlier participants. All goes well until cash from newcomers dries up, they say, and the game collapses. 'It's the perfect scam,' said Deb Bortner, a securities regulator in Washington state for 20 years and president-elect of the North American Securities Administrators Association. She worries that regulators 'have no access to SG's offshore bank accounts.' (more)