Entrecard Paid Advertising, WTF Entrecard?

***UPDATE 4/9/2009 Please See Old Skool Drops List - Thanks***

Hello peoples and what up Entrecard users? Have you heard about Entrecard and their new paid advertising system. It's freaking ridiculous and they really got me good today on top of it all (I'll tell you about that one later). So here's the story about Entrecard and the paid advertising scam they have going on. You're either going to like it or hate. I haven't decided for myself just yet.

Here is the summary of Entrecard's new paid advertising program directly from the Entrecard blog:

Our much anticipated Ad Network is now online and fully operational! As a blogger, from your dashboard, you can toggle your “advert settings” for control over what ads can even apply to advertise on your blog, and each paid ad that wants to advertise on your blog will show up in a new column on your dashboard labeled “paid ads” just under the normal blog ads. From here, you can reject any paid ad you like, freely and quickly. Revenue generated from these paid ads will go to fund our future operations, feature development, more servers, and all that good stuff, as well as a war chest to cash out all your credits with (or all the credits of those who wish to cash them out!). So please approve paid ads proudly knowing you’re supporting Entrecard and the only true virtual economy in the blogosphere!

Entrecard Paid Advertisers
If you’re interested in advertising across the entire Entrecard network, or by category, you can signup here to beta test our ad network. It is stable, and runs and operates smoothly, but we’ll be adding some bells and whistles over the coming days/weeks/months.

Rates
For now, you can purchase network-wide advertising for just $.02 (two cents) Cost-Per-Click or $.30 (thirty cents) CPM. Targeted by category, the prices double to $.04 CPC and $.60 CPM. We offer you a real-time statistics broken down by clicks received, impressions, cost per click, CPM, and CTR.

Now how this works is that Entrecard will be switching out your normal unpaid entrecard ad bought with credits for paid ads from the new paid advertising network. And they will be doing this by using the following equation.



Now does this make any sense to you? I don't like it at all. The main problem I see here with Entrecard's new paid advertising system is that I do not get any of the money being charged to advertise on my website. Now I like Entrecard and everything but I am not going to pay them to use their service and essentially thats exactly how it feels to me.

Plus the new Entrecard paid advertising program got me real good right off the bat. I wasn't around the past few days as I was running and gunning throughout the weekend like a madman, but today when I logged into Entrecard I didn't know about their paid advertising crap yet and saw a ton af ads waiting to be accepted.

I thought to myself, holy shit, I am going to make a killing in Entrecard credits. I didn't realize they were part of Entrecard's new paid advertising program because I hadn't heard about it and didn't notice the small assed paid ads marker. So I accepted like 20 plus ads and now I am stuck with them running off and on until these people run out of funding for that particular ad campaign. WTF!

With me, the jury is still out on Entrecard's new paid advertising network. What do you think? Please leave a comment and tell us all what you think about Entrecard's new paid advertising!