PayBoxMe and PayBoxShop

“PayBox is developing an online currency and payment processing service to make buying and selling online easier, more secure and available to everyone.”

 

 I told you about the PayBoxMe well after less than 24 hours I have a account balance of $69.87 and I guess they are going to try and be something like PayPal.  
  From reading their blog they have set up a PayBoxShop and it is different than PayBoxMe so if you want to be part of it you have to sign up.  It is going to be something, I guess, like eBay.  Again.. man there is not a lot of details and they are just starting up both of these sites.
  Darlene signed up using my link and I got $5.00 for her signing up.
  Making this money seems to be to easy. 

  The following is from Technology: 

“There's been a bit of a buzz on the internet over the summer of 2010 about new online payment system Paybox.Me
When you go to the Paybox.me website you can see why. Here are some Paybox.me promises to subscribers who sign up as Earlybirds:

"You start with a $50 balance and it's free.
PayBox will add up to $20 per day to your account for participating as we prepare to launch our new service
You get $5 per person you refer to PayBox.
You'll help shape the development of the best payment system ever designed for the Internet.
You could have hundreds or thousands of dollars in your account by the time we launch, without ever making a deposit!"
Sounds, classically, too good to be true. So people on internet boards are asking if it's a scam, if it's risky, if it's possible that it's genuine.
The first thing to understand about the Paybox.me statements above is that Paybox.me has its own currency. Paybox.me dollars are not US dollars. (Sorry to say!) Paybox.me says it intends to develop a currency that will exchange with currencies worldwide.
Which, in itself, is perfectly feasible - think of Disney money or Linden dollars.

What it means though is that the 50 dollars you get as a sign up fee are not 50 US dollars. The Paybox.me currency is not currently exchangeable for US dollars - or anything - so you can't use them. If and when the service goes live in 2011, Paybox.me says that they plan that their currency will be in the international exchange system and Paybox.me users will be able to spend their dollars and make and accept payments. You can't tell for now what the value of your 50 dollar sign up fee may eventually be. It could, theoretically, be around 50 US dollars or it could be 5 cents. If Paybox.me fails, the value will clearly be nil.
Having said all that, Paybox.me is more likely to be a simple email address collecting venture than a scam that puts subscribers at real risk. And there's always a chance it could turn into something profitable.
If you want to have a look for yourself and take a gamble that it may turn into a real business, just click here. 

The site certainly doesn't feel serious as a potential competitor to Paypal. There's not even a "Who We Are" section naming the owners. And I couldn't find any information online saying who's behind Paybox.me, which

It could be that the owners aren't entirely sure what to do with Paybox.me. They may be waiting to see what the online response is and how many Earlybird Paybox.me subscribers they get. If the response is huge perhaps they'll do some more initial development of a Paypal-type system and then try to sell Paybox.me. Or perhaps they'll just sell hundreds of thousands of email addresses and start another website.”

Comments

[MichelleM]

http://www.paybox.me/r/lucky7257

My Motto:
Nothing ventured nothing gained.

Take it for face value!!!!!!!!!!!!

M

[Argent009]

Jim, you've got to learn to use Google more efficiently, you'd discover that PayBox is a MLM scam. Whenever you see something online that looks too good to be true, IT IS, pretty much 100% of the time.

http://www.assetinvesting.com/business/why-paybox-is-a-scam/

http://www.scam.com/showthread.php?t=131916

http://www.associatedcontent.com/article/5804636/payboxme_the_new_paypal_or_just_another.html

http://www.owbuilder.com/2010/09/paybox-is-scam.html

Make up your own mind but, be informed. Also, do install Web Of Trust (A firefox plugin) so you know if a site is trusted or not. That plugin plus a few blocker plugins have saved me from a lot of nasty sites.

[Mrzpoodie]

i am sellin my pay box me dollars for real usd 400 for 150 in usd

[hassan359]

Sir i want to know that how can i use my paybox.me money to buy things???
i just didnt get the whole market for auction n sort of that...
so kindly tell me how can i use my money of paybox.me to buy things...

[anilya]

your using your pay box me dollars an selling them how are you doing that ??? i would like to no plz ..

[Jim Howard]

I do not think anyone is able to sell their pay box bucks for real money.
I think the value of pay box bucks is zero.