Almost got taken in by a website

Tweet

I was going to buy some credits to be able to bid on a website called Madbid that claims that you can buy some luxury items like an iphone 7, an ipad or a laptop for a massive discount. Imagine getting an iphone 7 for less than $200. Who won't be taken in ? Fortunately, my web browser crashes and I wasn't able to input my credit card details to buy the credits. I decided to take a look at the website before buying any credits and I already had this nagging feeling that the bidding procedure is flawed. I can never win anything with the way the bidding is conducted. Anyway, I then googled the website and apparently there had been many complaints against the website. I felt so fortunate that I hadn't bought any credits and end up losing money. If you've heard of this website, MadBid, be very careful. It's not a scam outright but it does seem to make people lose money. The thing is their operation is not regulated by any governing bodies so what they're doing is not illegal. They hide it all in their TOS. So if anyone complains, they'll just tell them to read the TOS closely.