Nick Mudge Ignition Software Consulting & Development

Newsconomy is a user-submitted news website like reddit.com or Hacker News and a bookmarking website like delicious.com. But it is also different and this post explains how it is different.

Newsconomy keeps submitted URLs unique. If someone posts a URL to an article, another user cannot then submit that same URL. The way Newsconomy handles this is a major difference from other websites. Below I show how reddit, delicious and newsconomy handle duplicate URL submissions.

reddit

reddit doesn't let a user submit a URL to a subreddit if it already exists in that subreddit:

delicious

Of course in delicious duplicate URLs or bookmarks are a major part of the website. delicious keeps track of how many people bookmark items to determine their quality or popularity. The number 72 in the delicious bookmark below is how many times people have bookmarked the item (submitted or saved the URL for their own account in the website).


Newsconomy

Here's how Newsconomy handles a duplicate submission:

Buy the item if you want it? WTF?

Notice the purple "Buy" link below the title of the item. If you come across an item that you find interesting or like and it already exists in Newsconomy you can buy the item. When you buy the item it moves from the account of the person you bought it from into your own account, and you now have powers over that item. It's like the item is now yours, in the mini world of Newsconomy, and nobody else can have it, unless they meet your price. That's the idea anyway.

But Why on Earth Would Somebody Want to Do This?

With or without the trading aspect of Newsconomy, it serves as a perfectly good bookmarking website or news website. The trading part of it just serves as a way to make it a little more fun. It is a different way to exchange items between users and show what people are interested in. Someone who might want to try something different might want to try this.

Karma Me Marma

Newsconomy doesn't have karma, or some sort of points system. It has something called lambda and it has trading histories. Newsconomy's monetary unit is called lambda and it is what users use to buy items. On the site the λ symbol is a symbol for lambda. Like the $ sign is for dollars.

What to Do With Lambda

Each user automatically gets a certain amount of lambda when they create an account. This amount changes. Yesterday a new user automatically got 10 lambda. Today the amount is 50.

How to Get Lambda
Here are three ways to generate lambda:

  1. Sign up for an account.
  2. Submit interesting items that others buy.
  3. Buy items for low and sell them for high.

Note: Any cheating will be detected and all accounts of a cheater will be deleted and the items of the accounts will be given to joemama.

How to Find Interesting Items

Check the homepage. Right now anytime an item changes ownership it is put at the top of the homepage. New submissions and newly purchased items are put at the top. This may change in the future for new ways of pushing up interesting content.

Every item has a "Trading History". The history shows every person who has purchased an item and how much they paid for it or if they were the original submitter. Every item shows how many owners it has had. This information provides good indicators of how interesting an item is.

Here's how to see the history of an item: Notice the link "Link" in the image below. Imagine clicking on that. Also notice that the Trading History is 6.

After clicking on that link you are shown the individual webpage for that item that shows its history:

More Info

I've used Newsconomy to create a list of links to posts/articles about Newsconomy. More information can be found in those links: http://newsconomy.com/tag/newsconomy

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