81–90 of 96 posts
My friend and I built a proof of concept to post books for sale that were not available on Amazon.com but were available on Half.com for a markup. When someone orders on Amazon.com, place an order on Half.com and change the shipping address.
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I have a system, where I read the most negative reviews of the book. If the reviews are eloquent and make a solid point, I don't buy the book. If the negative reviews are mostly whiny,emotional rants without any valid solid arguments, then the book is most definitely worth it. A case in point: http://www.amazon.com/Structure-Interpretation-Computer-Prog...
Huh didn't realize others do the same thing. I thought up this same method 7-8 years ago and I don't think it has ever steered me wrong. I may not always appreciate the book, but I can tell it is simply something that doesn't work FOR ME, which is always hard to gauge before you actually read something.
My friend and I built a proof of concept to post books for sale that were not available on Amazon.com but were available on Half.com for a markup. When someone orders on Amazon.com, place an order on Half.com and change the shipping address.
were you able to make money using it ?
There is so much potential out there.
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How does real money laundering work? Do you think that the other comments about electronics being sold for money laundering are also off mark? Also how realistic was breaking bad, where they brought a carwash and put it in some fake receipts.
Not a criminal, but someone interested in this kind of thing. From what I've read and heard, cash-based businesses are best because its really hard to prove otherwise. The IRS is going to see a car wash doing $1m a year in sales and that'll be it. It can't access any other records to prove otherwise because you're a mostly, if not all, cash business. You become your own customer and funnel your money into the company…
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were you able to make money using it ?
I personally know someone who successfully arbitraged Amazon and Half.com. There is so much potential out there.
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do you know why peeep needs access to my google account?
yep (spoiler alert, I'm one of the developers behind it) we've added google authentication to prevent people from hosting nasty stuff. the amount of moderation requests was simply overwhelming :(
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Not a criminal, but someone interested in this kind of thing. From what I've read and heard, cash-based businesses are best because its really hard to prove otherwise. The IRS is going to see a car wash doing $1m a year in sales and that'll be it. It can't access any other records to prove otherwise because you're a mostly, if not all, cash business. You become your own customer and funnel your money into the company…
With something like a bar can't the IRS demand to see receipts for the drinks you've bought, and realise you've sold $100,000 worth of whiskey, but only actually bought a few bottles?
You can learn the basics of accounting and laundering over a weekend if you had to and learn just enough to avoid being flagged by the IRS. Hell, some accountants specialize in these kinds of things.
I also think that you need to accept some level of risk here and that you'll be dealing with audits periodically. Auditing isn't some scary process, more than likely you'll be dinged for more taxes and not be put in jail. You'll come out ahead, especially when you consider outsourcing laundering is very expensive, something like 50-70% and depending on how it comes back to you, that money is also taxable, so another 25% lost on what's left. Running your own business means you only lose that 25% and some overhead.
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I personally know someone who successfully arbitraged Amazon and Half.com. There is so much potential out there.
can you explain more about how the arbitrage works ? I am confused how it is possible. for instance, I buy a lot of used books from amazon.com (well, third party sellers). when i one-buy click, the purchase goes through immediately, and the sellar already has the book listed, so i am confused how it would even be done.
I used to write software to do this; this comment from the previous time this article was posted is spot on: https://news.ycombinator.com/item?id=2478096 The company I worked for did this, if not before anybody else did, than at least very nearly so: > Then came the "phantom listers" - agencies with software that spiders through the listings of legitimate on line book dealers looking for titles with few (or no) copie…