Posted on Saturday, 8th March 2008 by Bcarter
Within the past couple of days you may have seen what is called the “Money Magnet Widget” along the sidebars of many blogs. If the thought of this widget has intrigued you, you are not alone. I almost fell for the idea of buying one of these to get in on the “next big thing” but after thinking about it, I have abstained and decided to write this post. Here’s why.
1. You are purchasing the right to sell the widget to other people. There’s nothing of value in the widget itself.
2. It’s borderline illegal and you will probably hear of the founders of the widget in court if enough people fall for this. I am all for referral programs as you can tell by my Big Crumbs posts, but with Big Crumbs there is no start up fee. If someone signs up and doesn’t do anything, they haven’t lost any money and I can sleep at night.
3. The only people that will fall for this are the ones after the next big internet craze. Many crazes have come and gone; the only items with staying power are the ones that offer value for the users. This whole “Money Magnet” craze will fizzle in about two weeks and you will have lost your hard earned money. After that, visitors to your blog may feel sorry for you or question your integrity because you fell for this.
These are just my opinions and I’m sticking to them. Please save your hard earned cash; spend it on something worthwhile.
Let me know what you think.
Posted in Online Income | Comments (9)
March 8th, 2008 at 1:56 pm
I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you.
Susan Kishner
March 8th, 2008 at 10:11 pm
I agree, good for you for staying away from what looks like a pyramid scheme.
March 10th, 2008 at 9:19 am
i think you got a very valid point. There’s no value in a widget and without a value, you are basically working like a pyramid scheme which is illegal. But i wouldn’t have thought of that if not for your post. thx for sharing.!
March 10th, 2008 at 10:54 am
Well, I guess I am one of those suckers. I didn’t spend too much, but I did buy one. I just wish I had of read your blog first. I didn’t even research it which is strange for me cuz I typically research EVERYTHING before I put my money into it. It just looked so simple and easy. Hopefully, I will get me original investment back and then can back out gracefully. Thanks for the heads up on it. I will try and keep you posted on how it goes for me. God bless.
March 10th, 2008 at 1:04 pm
I haven’t seen it, but if I do I’ll steer clear now, thanks!
March 10th, 2008 at 8:29 pm
Still trying to figure out just what a widget is! I am pretty new to this blogging thing but not new to life or teaching. I am currently just dropping my ecard that my son set up for me cause i don’t know what else to do yet to get my blog advertised. Come over and sit by my campfire anytime. Rick
March 12th, 2008 at 8:40 pm
I understand your skepticism, but until you have tried it you dont really know if it is a scam or not. I have personally talked with people have made money off of this. Its a pretty upfront way to make money, its not like other multilevel pyramid scheme since there is only one level.
April 2nd, 2008 at 11:04 pm
[...] Money Magnet Widget – Save your hard earned money Within the past couple of days you may have seen what is called the “Money Magnet Widget” along the sidebars of many blogs. If the thought of this widget has intrigued you, you are not alone. I almost fell for the idea of buying one of … [...]
October 14th, 2009 at 4:28 pm
I just looked at your RSS feed and it gave me an error. Can you post your RSS feed url when you have a chance? I don’t check email very often.