That's pisobid.
PisoBid - #1 entertainment shopping site in Philippines - 99% off retail!
By virtue, it's gambling.
One will win at the cost of others losing their money.
Yes there's a time limit for bidding. But once that time limit is over, any bids made will reset the timer to 12 seconds. It's "almost" endless.
EVERY BID WILL COST YOU MONEY, EVEN IF YOU DON'T WIN.
Each bid will cost you P5.00 (please correct me if I'm wrong)
Each bid will raise the value of the item by P0.10 (please correct me if I'm wrong)
The bid usually starts at P1.00 (please correct me if I'm wrong)
So if a iPhone is already at P2,000 value:
P2,000 divided by P0.10, that's a total of 20,000 bids. If each bid costs P5.00 (please correct me if I'm wrong), then they have collected a total of P100,000.
Sure maybe you've got the iPhone for P2,000 + cost of bidding, say maybe a total of P10,000 spent.
But other people have lost a total of P80,000.
Ang sakto nga bidding is that if you don't win the bid, you don't lose anything.
But in these sites like PisoBid, you lose money even if you don't win.
I highly discourage this site.