What's new
Fantasy Football - Footballguys Forums

Welcome to Our Forums. Once you've registered and logged in, you're primed to talk football, among other topics, with the sharpest and most experienced fantasy players on the internet.

Starstreetsports.com (1 Viewer)

W

wiscstlatlmia

Footballguy
I know for me, one of my favorite things (and one of the main reasons in play fantasy football) is buying low and selling high, or being right about a guy and watch his stock rise all the way to the top. Well, I think Ive found a website that focus's purely on the element of buying low and selling high.

https://www.starstreetsports.com/trading#

This site is still in the early stages of what its going to be but basically, its the stock market for sports.

So....throw a few bucks on and have a good time! :(

http://twitter.com/#!/StarStSports

http://www.boston.com/business/technology/innoeco/2010/05/

ENTREPRENEURSHIP, TECH

Sports stock market tests its technology with World Cup soccer

Link|Comments (1)Posted by Scott Kirsner May 24, 2010 07:06 AM

StarStreet, one of the Cambridge start-ups participating in this spring's TechStars development program, is down in New York this week for the TechCrunch Disrupt conference. They're using the event as an opportunity to open up the beta test of their "sports stock market" to more people, according to founder Jeremy Levine; all you need is a Facebook account.

The first event in which you'll have a chance to participate is the FIFA World Cup soccer tournament, which starts June 11th. StarStreet players can "buy" shares in teams and individual players using play money — and see how their decisions play out over time. The company eventually hopes to let you trade on StarStreet using real money (and either turning a profit or chalking up a loss), though there are some questions hovering over the legality of that. (I'm sure StarStreet would be much more hazardous to individual investors than, say, the NYSE.) An early test during the NCAA's March Madness tournament had a small number of users trading with actual dollars, and no legal or regulatory actions arose.

StarStreet will also be part of the TechStars Boston demo night next Wednesday (an invite-only event for prospective investors). The start-up's "coaching staff" (read: advisory board) includes Viximo co-founder Sean Lindsay and Black Duck Software veterans Doug Levin and Palle Pedersen.

 
Last edited by a moderator:
The site is missing one important piece for this to work. The players have no value. Why would anyone bid (or ask) any amount on any player? What makes someone want to buy or sell a player? Liking or disliking him?

 
Silly argument. Gold has no practical or measurable value either, yet people buy it daily and the prevailing price is determined by what the market will bear.

This works the same way. When you buy gold, you buy it because you expect to exchange it back for money at some later date, possibly after it appreciates. When you buy "Blake Griffin" fake stock, you buy it because you expect to trade out of the position later and make a profit. As long as the exchange stays active, buying "Blake Griffin" fake stock is just as credible a concept as buying gold.

 
Zdravko said:
Silly argument. Gold has no practical or measurable value either, yet people buy it daily and the prevailing price is determined by what the market will bear.This works the same way. When you buy gold, you buy it because you expect to exchange it back for money at some later date, possibly after it appreciates. When you buy "Blake Griffin" fake stock, you buy it because you expect to trade out of the position later and make a profit. As long as the exchange stays active, buying "Blake Griffin" fake stock is just as credible a concept as buying gold.
Click to expand...
:football:
 
There have been sites like this before, and some of died while others live on. This isn't a new concept. You're still buying something that isn't tangible and investing money in an unregulated market that could literally shut down at any time.

 
RUSF18 said:
There have been sites like this before, and some of died while others live on. This isn't a new concept. You're still buying something that isn't tangible and investing money in an unregulated market that could literally shut down at any time.
Click to expand...
and last one in loses big.
 
I made a few hundred bucks (Amazon gift certificate) on a site called ProTrade that did this. It was "free" though. They had some big cashouts where you could shoot hoops w/ Steve Nash or catch w/ BigBen... I think those guys had a stake in it as a business. They went down a few months after I cashed out.

 
Mike Sroka (created of Oneseason.com) proved that this cannot work. I was in the beta group for starstreet when the were putting it together after os crashed. Same ponzi scheme. Money was made on oneseason but it was early on and when their IPOs were free, first come first serve.

 
Zdravko said:
Silly argument. Gold has no practical or measurable value either, yet people buy it daily and the prevailing price is determined by what the market will bear.This works the same way. When you buy gold, you buy it because you expect to exchange it back for money at some later date, possibly after it appreciates. When you buy "Blake Griffin" fake stock, you buy it because you expect to trade out of the position later and make a profit. As long as the exchange stays active, buying "Blake Griffin" fake stock is just as credible a concept as buying gold.
Click to expand...
:lmao:
 
RUSF18 said:
wiscstlatlmia said:
BusterTBronco said:
Interesting read here.
Click to expand...
Hmmm...good stuff ...I guess its 50/50 on whether it works or not but, it sounds like from that, might be too complex to pull off.
Click to expand...
I would short those odds.
Click to expand...
:goodposting: This has gone over several times... it's failed every time. If you get in early enough and have a chance to make some cash... GET OUT.

I was able to get out from OneSeason wiht close to what I put in. There were a LOT of people who lost a lot of money.

It IS a ponzi scheme. It WILL Collapse (and likely within 6 months or so of launch).

Money will be made by some who get in quick with favorable positions, most folks will lose everything.

You can doubt this... but you'll be wrong.

 
wiscstlatlmia said:
Lol pessimism at its best!
Click to expand...
I can't tell if this is your site and you're pretending to promote it or not.I used to chat with the wall street sports guys (the one's that began this concept) every now and then and eventually sold it to sandbox who sorta killed it. Rotohog did well with something similar. As far as I'm concerned there was a huge gap (7 years?) in a quality player stock site from WSS to Rotohog.Every company that tries to get rich quick doing this fails miserably. This is an old old theory where in you're selling ads based upon a huge rarity on the web-an assured amount of many visits per day to the very same page.You check out USAToday or NFL.com once, maybe twice in one day but you're not going there 5-10 times. Advertisers will eat that up if it's sold correctly to them. That's where the money is, not in (sometimes literally)nickel and diming the visitors. Sandbox people were awesome at marketing and (from a strictly web design standpoint) had one of the best websites ever, eons before it's time. The content was brutally bad though and they responded by hiring some good folks, but (it seemed) to pay for them, they began overcharging everyone that visited the site. WSS was a decent size, sorta just OK. Sandbox was enormous. Their traffic was staggering.It was about that time that Fantasy Asylum became FF.com and charged people a ton of money to be members. 100? a year. There was a lot of angst about so many sites charging at that time (to which FBG was new and being 15 bucks was a sweet deal) and I gotta tell ya...I believe sandbox.com (then) is the big one to blame for that nasty evolution of overcharging FF people on the web. IIRC They sold sandbox for a truckload of money, so kudos to them. They pushed the market to see all they could get out of it and business-wise kudos to them too, but it really irked a lot of people back then when their favorite site was suddenly charging a far larger than normal amount to be a member.ETA, if some original folks come into this thread, I guarantee that they remember how many threads there were on ol' yeller griping about FF sites charging back then.
 
Last edited by a moderator:
Bri said:
wiscstlatlmia said:
Lol pessimism at its best!
Click to expand...
I can't tell if this is your site and you're pretending to promote it or not.I used to chat with the wall street sports guys (the one's that began this concept) every now and then and eventually sold it to sandbox who sorta killed it. Rotohog did well with something similar. As far as I'm concerned there was a huge gap (7 years?) in a quality player stock site from WSS to Rotohog.Every company that tries to get rich quick doing this fails miserably. This is an old old theory where in you're selling ads based upon a huge rarity on the web-an assured amount of many visits per day to the very same page.You check out USAToday or NFL.com once, maybe twice in one day but you're not going there 5-10 times. Advertisers will eat that up if it's sold correctly to them. That's where the money is, not in (sometimes literally)nickel and diming the visitors. Sandbox people were awesome at marketing and (from a strictly web design standpoint) had one of the best websites ever, eons before it's time. The content was brutally bad though and they responded by hiring some good folks, but (it seemed) to pay for them, they began overcharging everyone that visited the site. WSS was a decent size, sorta just OK. Sandbox was enormous. Their traffic was staggering.It was about that time that Fantasy Asylum became FF.com and charged people a ton of money to be members. 100? a year. There was a lot of angst about so many sites charging at that time (to which FBG was new and being 15 bucks was a sweet deal) and I gotta tell ya...I believe sandbox.com (then) is the big one to blame for that nasty evolution of overcharging FF people on the web. IIRC They sold sandbox for a truckload of money, so kudos to them. They pushed the market to see all they could get out of it and business-wise kudos to them too, but it really irked a lot of people back then when their favorite site was suddenly charging a far larger than normal amount to be a member.ETA, if some original folks come into this thread, I guarantee that they remember how many threads there were on ol' yeller griping about FF sites charging back then.
Click to expand...
i want people to get in it son i can make some money hahaha
 
I personally wouldn't put money in this, but calling it a Ponzi scheme reeks of not knowing what a Ponzi scheme is.

Check out the site's admittedly self-created description. It's based on peer-to-peer trading, which is a perfectly legit, tried and tested model and has very limited house involvement. Like a previous poster said, the money - if they can get it - is in selling ads, not in nickel-and-diming.

So there are many reason why the site is likely to fail, but being an outright fraud is not one of them. Do your research.

 
Oneseason.com. I, as I tend to do with all things stock market related, missed the timing of this one bigtime.

When I put my 200 bucks in, people had been making money hand over fist for about a month or two. But the money was VIRTUAL.

What happened, was that all of a sudden some of the guys who had made a TON of money started selling. VERY QUICKLY, the market totally crashed and never re-built. It had one "mini-surge", where the market started to go back up, people re-invested, and then it fell to it's complete demise.

Basically, if one of these starts up, you have to get in early, invest a couple hundred bucks and see if you can make double or triple your money.

Because when it crashes, all money you have invested is gone.

 
Zdravko said:
Silly argument. Gold has no practical or measurable value either, yet people buy it daily and the prevailing price is determined by what the market will bear.This works the same way. When you buy gold, you buy it because you expect to exchange it back for money at some later date, possibly after it appreciates. When you buy "Blake Griffin" fake stock, you buy it because you expect to trade out of the position later and make a profit. As long as the exchange stays active, buying "Blake Griffin" fake stock is just as credible a concept as buying gold.
Click to expand...
Comparing this to gold or any other real investment is foolish. In gold you are buying a tangible asset or the rights to a tangible asset. With stock, you are buying a percentage of a company's assets, liabilities, and future income/losses.Buying 100 shares of Blake Griffin is as valuable as buying 100 shares of unicorns from the homeless man by the freeway. You will never have any claim to future gains nor can you ever take delivery of the asset. If you are lucky, maybe you will be able to resell to some sucker that likes unicorns more than you, but that is the underlying goal of a ponzi scheme.
 
Actually you're only partially correct. While Gold is tangible, it is really only a shiny metal that we as a society have assigned value to. Similar to diamonds which are just shiny rocks, that we claim are valuable.

Value is given based on how much someone is willing to pay for something, and if people are willing to pay for this service/entertainment/exchange, then that is what it is worth.

If the commodities market dissolved, people would be left with all he shiny rocks and metal they'd purchased, and at least have a tangible asset to sell, vs. this "exchange" where if the market dissolves they have nothing, but in any "investment" scenario there is risk...

I personally wouldn't get involved without some type guarantee that the market would remain viable for let's say five years, but if someone else wants to , more power to them.

 
This is how this thread and shark pool makes me feel sometimes.

(Im Donny and the shark pool is Walter)

Just out of my intellectual element lol

 
Jrcwy said:
Comparing this to gold or any other real investment is foolish. In gold you are buying a tangible asset or the rights to a tangible asset. With stock, you are buying a percentage of a company's assets, liabilities, and future income/losses.Buying 100 shares of Blake Griffin is as valuable as buying 100 shares of unicorns from the homeless man by the freeway. You will never have any claim to future gains nor can you ever take delivery of the asset. If you are lucky, maybe you will be able to resell to some sucker that likes unicorns more than you, but that is the underlying goal of a ponzi scheme.
Click to expand...
Dude......first off, who mentioned stocks? Stocks and gold are principally very different commodities.Second, please look up what a Ponzi scheme is, then we can chat further about its "underlying" goal.Third (just as the poster below you and silly ole' me pointed out), as long as you have a viable, active exchange market, the Blake Griffin fake stock works the same way as gold. FYI, gold hasn't given an American "any claim to future gains" or "delivery of the asset" since the US abandoned the gold standard 80 years ago.The problem with investing in that StarStreetSports site is not that the model is somehow fundamentally flawed or that it's outright fraud. The problem is simply that the site is unlikely to reach a critical mass of recurring customers and, therefore, the viable, active exchange market will ultimately cease to exist.Last point: have you heard of TradeSports.com? Used the same peer-2-peer trading model, but to emulate gambling - both short-term and long-term. TradeSports closed shop a couple years ago under Fed's pressure. I had about 5K in it. Got every penny back. Not saying the same will happen with this site, but this is a clear example that you don't have to get defrauded by a peer-2-peer trade clearing house. Toodles :kicksrock:
 
Zdravko said:
Dude......first off, who mentioned stocks? Stocks and gold are principally very different commodities.Umm, the subtitle of the post is "Stock market for Athletes." Where I come from, it is pretty typical for a stock market to trade stock. Second, please look up what a Ponzi scheme is, then we can chat further about its "underlying" goal.Dictionary.com defines a Ponzi Scheme as "a swindle in which a quick return, made up of money from new investors, on an initial investment lures the victim into much bigger risks". You state below that the Feds shut down Tradesports, a similar operation, indicating at least some legal issues. You also stated that "the problem is simply that the site is unlikely to reach a critical mass of recurring customers and, therefore, the viable, active exchange market will ultimately cease to exist" The same can be said of a ponzi scheme but all suffer from a finite number of suckersThird (just as the poster below you and silly ole' me pointed out), as long as you have a viable, active exchange market, the Blake Griffin fake stock works the same way as gold. FYI, gold hasn't given an American "any claim to future gains" or "delivery of the asset" since the US abandoned the gold standard 80 years ago.The problem with investing in that StarStreetSports site is not that the model is somehow fundamentally flawed or that it's outright fraud. The problem is simply that the site is unlikely to reach a critical mass of recurring customers and, therefore, the viable, active exchange market will ultimately cease to exist.Last point: have you heard of TradeSports.com? Used the same peer-2-peer trading model, but to emulate gambling - both short-term and long-term. TradeSports closed shop a couple years ago under Fed's pressure. I had about 5K in it. Got every penny back. Not saying the same will happen with this site, but this is a clear example that you don't have to get defrauded by a peer-2-peer trade clearing house. Toodles :)
Click to expand...
You make some excellent points based on rational assertions and well-supported facts, so I'd like to retract my premature skepticism. If someone without the reading comprehension to see "stock market" in the subtitle and immediately associate the topic with stocks has the ability to make good coin in this highly lucrative market of legitimate transactions, I'm all in!
 
Jrcwy said:
Zdravko said:
Dude......first off, who mentioned stocks? Stocks and gold are principally very different commodities.Umm, the subtitle of the post is "Stock market for Athletes." Where I come from, it is pretty typical for a stock market to trade stock. Second, please look up what a Ponzi scheme is, then we can chat further about its "underlying" goal.Dictionary.com defines a Ponzi Scheme as "a swindle in which a quick return, made up of money from new investors, on an initial investment lures the victim into much bigger risks". You state below that the Feds shut down Tradesports, a similar operation, indicating at least some legal issues. You also stated that "the problem is simply that the site is unlikely to reach a critical mass of recurring customers and, therefore, the viable, active exchange market will ultimately cease to exist" The same can be said of a ponzi scheme but all suffer from a finite number of suckersThird (just as the poster below you and silly ole' me pointed out), as long as you have a viable, active exchange market, the Blake Griffin fake stock works the same way as gold. FYI, gold hasn't given an American "any claim to future gains" or "delivery of the asset" since the US abandoned the gold standard 80 years ago.The problem with investing in that StarStreetSports site is not that the model is somehow fundamentally flawed or that it's outright fraud. The problem is simply that the site is unlikely to reach a critical mass of recurring customers and, therefore, the viable, active exchange market will ultimately cease to exist.Last point: have you heard of TradeSports.com? Used the same peer-2-peer trading model, but to emulate gambling - both short-term and long-term. TradeSports closed shop a couple years ago under Fed's pressure. I had about 5K in it. Got every penny back. Not saying the same will happen with this site, but this is a clear example that you don't have to get defrauded by a peer-2-peer trade clearing house. Toodles :)
Click to expand...
You make some excellent points based on rational assertions and well-supported facts, so I'd like to retract my premature skepticism. If someone without the reading comprehension to see "stock market" in the subtitle and immediately associate the topic with stocks has the ability to make good coin in this highly lucrative market of legitimate transactions, I'm all in!
Click to expand...
:shock: Sarcasm well executed and properly placed.
 
Jrcwy said:
You make some excellent points based on rational assertions and well-supported facts, so I'd like to retract my premature skepticism. If someone without the reading comprehension to see "stock market" in the subtitle and immediately associate the topic with stocks has the ability to make good coin in this highly lucrative market of legitimate transactions, I'm all in!
Click to expand...
Throwing in sarcasm is both clever and cute, but hardly a substitute for valid points…so forgive me for ignoring that specific statement.We seem to agree on the definition of a Ponzi scheme. So humor me here. A Ponzi scheme, according to the definition, needs a constant influx of “suckers” to keep going. When it runs out of new “suckers” to pay the old ones, the gig is over. By comparison, this site here only needs to maintain a critical mass of people trading. It doesn’t need a constant influx of “suckers” to stay alive and be profitable - it just needs the same critical mass of people to stay active on the market. On that basis, the “underlying goal” of the two is wildly different. If you think this here is a Ponzi scheme, you must think the gold trading market is a Ponzi scheme, as well?On to the stock market reference. I am glad to see it’s in the title, but you were responding to my post about gold and gold only. So, I still fail to see the logic in grouping the two together. Do note that I don’t disagree with your logic about trading stocks. I just think you are very wrong to group it together with gold.Finally, the TradeSports comparison. As I already pointed out, it was shut down because it was a gambling side. Allegedly, it was getting too big, with reference made to it in the mainstream media, etc, etc, so the Feds moved in. Now, you seem rational enough to recognize that whatever your moral views on gambling, it does not actually affect the theory behind the business model. It might make the business illegal in a given location (the US)....but, once again, does not make it a Ponzi scheme in constant need of “suckers”. Toodles again! :confused:
 
Saying that gold or diamonds only have value because they are shiny is just ignorant. IMO, both of them are overvalued, but they both have some specific properties that have real utility. Comparing them, or even a real stock that's backed by an actual commodity or business, to a virtual share of a person is insane.

I can take gold and make stuff out of it. It's used in all sorts of electronics because of its properties. Diamonds have all sorts of industrial uses. Stocks in companies give me dividends as a share of the profits. By their very nature, there will NEVER be any usefulness or profit share from a "stock" of an athlete like this.

It may not meet the strict definition of a ponzi scheme, but the ONLY way that the total value of the stocks can rise is if there is new money into the market. Whether that's through new people or the old people pumping more money, it's the only way. Trade volume has nothing to do with increasing the value of the stocks.

That site will be closed and everyone left will lose all/most of their money within 6 months.

 
Well...Its two months later and Startstreet has gone from having $2,500 in the pot to having almost $10,000. I was just wondering how much money got into those other sites before they folded.

 
'wiscstlatlmia said:
'Zdravko said:
Silly argument. Gold has no practical or measurable value either, yet people buy it daily and the prevailing price is determined by what the market will bear.This works the same way. When you buy gold, you buy it because you expect to exchange it back for money at some later date, possibly after it appreciates. When you buy "Blake Griffin" fake stock, you buy it because you expect to trade out of the position later and make a profit. As long as the exchange stays active, buying "Blake Griffin" fake stock is just as credible a concept as buying gold.
Click to expand...
:football:
Click to expand...
conceptually maybe, but there's a market for gold, and you know you can unload it. Where's the guarantee on unloading fake BJ Upton stock that there's little demand for?ETA i reread and see the 'if the market stays active' caveat, but isn't that the whole issue?
 
Last edited by a moderator:
'Hipple said:
ETA i reread and see the 'if the market stays active' caveat, but isn't that the whole issue?
Click to expand...
Absolutely. I think I was only arguing that the exact nature of what you are trading is not that important as long as there is an active exchange forum for it.
 
'wiscstlatlmia said:
Over 15k in this pot this far this year... check it out!
Click to expand...
So i decide to click and see how it's doing...



The site's security certificate has expired!

You attempted to reach www.starstreetsports.com, but the server presented an expired certificate. No information is available to indicate whether that certificate has been compromised since its expiration. This means Google Chrome cannot guarantee that you are communicating with www.starstreetsports.com and not an attacker. You should not proceed.
Click to expand...

 
he market seems to dictate that even the investors are really only concerned with short term profits. j. charles stock is at 15 cents, kenny britt is at 56 cents. Meanwhile felix jones is trading at 99 cents? Ochocinco is at 1.40 & THT is 84 cents. so THT is going for 6x J charles?

Also how are there only 83 players available? FBG's lists more wr's than that weekly alone?

 
Last edited by a moderator:
'Hipple said:
'wiscstlatlmia said:
Over 15k in this pot this far this year... check it out!
Click to expand...
So i decide to click and see how it's doing...



The site's security certificate has expired!

You attempted to reach www.starstreetsports.com, but the server presented an expired certificate. No information is available to indicate whether that certificate has been compromised since its expiration. This means Google Chrome cannot guarantee that you are communicating with www.starstreetsports.com and not an attacker. You should not proceed.
Click to expand...
Click to expand...
that should only come up for https not http, secure sites not typical ones.IMO this was a technology that developed with awesome intentions and was a sweet idea, but precious few web designers follow so it's fairly useless now.

 
Very impressive that the site has been featured by all those companies and NFLPlayers Inc and all.

Some of the posts here indicate it's less than stellar so I'm unsure

 
'Zdravko said:
Silly argument. Gold has no practical or measurable value either, yet people buy it daily and the prevailing price is determined by what the market will bear.This works the same way. When you buy gold, you buy it because you expect to exchange it back for money at some later date, possibly after it appreciates. When you buy "Blake Griffin" fake stock, you buy it because you expect to trade out of the position later and make a profit. As long as the exchange stays active, buying "Blake Griffin" fake stock is just as credible a concept as buying gold.
Click to expand...
Sorry to tell you but gold has practical value, unless a metal that doesn't rust, is hypoallergenic, and malleable enough to create intricate artwork from has no value to anyone. Not to mention it's unique color among metals.
 
'Hipple said:
he market seems to dictate that even the investors are really only concerned with short term profits. j. charles stock is at 15 cents, kenny britt is at 56 cents. Meanwhile felix jones is trading at 99 cents? Ochocinco is at 1.40 & THT is 84 cents. so THT is going for 6x J charles? Also how are there only 83 players available? FBG's lists more wr's than that weekly alone?
Click to expand...
You clearly looked really hard into this one didn't you? The stocks get retired at the end of the year, hence why Jamaal Charles stock is so low.
 
'Hipple said:
he market seems to dictate that even the investors are really only concerned with short term profits. j. charles stock is at 15 cents, kenny britt is at 56 cents. Meanwhile felix jones is trading at 99 cents? Ochocinco is at 1.40 & THT is 84 cents. so THT is going for 6x J charles? Also how are there only 83 players available? FBG's lists more wr's than that weekly alone?
Click to expand...
You clearly looked really hard into this one didn't you? The stocks get retired at the end of the year, hence why Jamaal Charles stock is so low.
 
StarStreet and FanFuel both have weekly contests with salary caps.

Are there any other sites with similar games, or are those the only two?

 
Sportsbuff might

Threeforall used to but idk since SportingNews bought them

There's been a lot of movement the last few years and (I don't think) not the best advertisement of these moves letting the public know. I would guess there's several more Maurile.

 
You must log in or register to reply here.

Similar threads

@
Generations Fantasy Sports
Replies
22
Views
479
@GregoryLKellogg
@
TheWinz
2023 OFFENSE/DEFENSE Contest - Week 1
2
Replies
81
Views
2K
Pip's Invitation
Pip's Invitation
Joe Bryant
Important Note On Footballguys Championship Contest
Replies
7
Views
824
Joe Bryant
Joe Bryant

Users who are viewing this thread

Total: 2 (members: 0, guests: 2)
Top