I'm afraid you have not understood. I will try to explain this better.

SiteCoins are a feature offered by CarrotPay. You can see their documentation here on how to implement it: https://secure.carrot.org/en/GB/documents.

Basically, one of the features CarrotPay offer is the ability to issue 'SiteCoins' which are a type of coupon spendable only with a specific Merchant account. The purpose of these SiteCoins is diverse. Like with coupons, we use them to encourage users to try the premium service for free! This is simply an exploitation of the services available with CarrotPay. We do the same thing with their 'split payment' facility, which is not offered by other gateways.

When we issue a site coin, these are held in the user's CarrotPay Wallet and when they visit our site, they will see this amount as an available balance. It will not be visible when visiting other websites (as no other website would accept it).

So, not a lie.

Damn right! Especially after you told us we get our cash straight into our CarrotPay account, which isn't the case. You never mentioned anything about FileShoppe credits/coupons, and led us to believe this.

I had to find out about this on your T&C's page.

VERY DISHONEST!
Not at all. We will still REDEEM this 'free money' at face value. If you receive $40 of site coins, then you can exchange for REAL cash.

Obviously we do not wish our users to end up with worthless coupons, so it is for this reason we offer to redeem them, making them almost as good as cash! They do have value! It is also clearly labelled in our T&C so I fail to see the dishonesty.

We also set the limit to $40 simply to prevent abuse and fraud. We give away $5 site coins just to sign up as a content provider and $1 for downloaders. If we redeemed at face value for whatever value, we would be open to abuse where people would simply cash in their coupons instead of using them for what they were intended. The $40 limit should help prevents this while not incurring any significant delay to the content provider, considering they may very well have already taken the first $6 in give always, and only needed to earn $34.


You said people could charge up $200 for thier files!

"Priced Files
Uploaders can release their files for a fee and maximize their earnings!You can charge between $0.01 and $200.00 for your digital goods! The bandwidth fee remains static at $0.01 per 100MB."


Lie number 3
You have really misunderstood this one.

Files can be priced between $0.01 and $200, but site coins can only be spent on files UNDER $1.

For example, a file sold for $0.50 may be paid for with a site coin. However, a file that is sold for $2.00 may ONLY be paid for with REAL CASH. So if you are selling files over $1, you will not receive any site coins at all.

Please don't try to make a fool out of me and the good people of KWWH!!!

This means content providers are ONLY able to accept FileShoppe credits/coupons/coins/crap!


Lie number 4.
I am not trying to make a fool out of anyone. You have just misunderstood our model. I believe you are tying to find something quite nefarious, but I assure you, you will find our system to be quite transparent and honest. It is the premise of our system.

And no, we do not ONLY accept site coins. We accept REAL cash in conjunction with our own issued site coins. Of course we have a preference for CASH as this is how we would make money. We make nothing from accepting site coins. In fact, for each site coin we issue, we stand to lose that upon redemption.

SiteCoins are intended only to help encourage down loaders to go that final step to make a purchase in the hopes they will become repeat customers.

Another thing you may want to think about is, have you ever seen a shopping mall where you can buy gift vouchers which can be used in any of the stores in the mall? This is not much different.


We have been 100% truthful, and I hope this explantion clarifies our position.

Thank you for your time.
Lie number 5!!!
I have indeed been truthful, but I apologize if I have been unclear. If you have any further misunderstandings or queries, I would be more than happy to help clear things up.

Thank you for your time.