Anyone know sitetalk?

[hakank]

I've been "introduced" to a new mlm scam(?)
It's called sitetalk . com and they are convinced that they're gonna be as big as fb...

OK.. Here's my concerns:

1. g+ failed, why should they succeed?
2. 10m users.. compete says 5k...
3. stock exchange.. changes al the time, first Asia now Frankfurt...
4. Their webshop.. Expensive s**t
5. Gambling? License?


It's no 5 that concerns me the most.. Gambling.. Who are we gonna call?

[TheGooner]

I've never heard of them ... but I did a quick tour and it did just seem to me to be a quick teeny / tweeny ripoff of a generic social network.

Nice enough - pretty graphics - but it's eyeballs that count.
If your friends and contacts are not there - then you are likely to think the site sucks.

Regarding traffic, Compete seems to worry more about US traffic than global traffic ... but that variance of 5,000 to 10,000,000 is a BIG disconnect.

Are you thinking of investing? Buying shares or other direct investment?
Were you approached directly? Why YOU?

This sort of "me too" copycat site is high risk - probably 95% chance of failure to achieve critical mass.
So you need potential of 20/1 payout - probably 100/1 to be worth even a small investment.

Also be wary that the Frankfurt Open Exchange is just a listing service - and has minimal requirements and costs.
There is little monitoring of compliance - and these companies can be paper based scams - where fraudsters pump-and-dump.
You can even list without ever even offering a prospectus (basic financial details and business plan).

In summary - I'd say AVOID - unless you are a savvy investor who has a lot of experience in this area.