PaperBackSwap (PBS) is a book swapping website which was founded in 2004. The purpose of PaperBackSwap is to use the Internet to facilitate the parity trading of books among members in the United States using a credit based system for swapping. The club also operates sister websites SwapaDVD and SwapaCD to facilitate parity trading of DVDs and CDs, respectively.
PaperBackSwap was founded in 2004 by Richard Pickering, a former economics student, and his friend, Robert Swarthout. [1] Sister websites SwapaCD and SwapaDVD were founded in 2008. [2]
A credit system is used to enable members to trade books for credits and credits for books. Credits may either be purchased, or they may be earned by mailing books which have been requested. Consequently, a member need not seek another member who desires a parity trade; credits are the medium of exchange. Both paperback and hardback books may be traded, as well as audiobooks. Within the PBS system the value of any bound book is one credit, and the value of an audio book is two credits. [3]
Pickering patented several embodiments of the program with the US Patent Office involving the swapping process of books, CDs and DVDs. [4] [5] Pickering continues to run the company to date. However, members often complain about the site being slow to load, constantly down, and nearly unusable on a phone. There is common sentiment among the members that if they are paying a membership fee, the site should be upgraded to work
Other complaints include deactivation of accounts based on unclear guidelines and selectively enforced rules about late shipments or unmailed CDs, including accounts with cash or credit balances that go unredeemed or unrefunded upon closure.
The compact disc (CD) is a digital optical disc data storage format that was co-developed by Philips and Sony to store and play digital audio recordings. In August 1982, the first compact disc was manufactured. It was then released in October 1982 in Japan and branded as Digital Audio Compact Disc. It was released on March 2, 1983 in North America and Europe.
CD-R is a digital optical disc storage format. A CD-R disc is a compact disc that can be written once and read arbitrarily many times.
An optical disc is a flat, usually disc-shaped object that stores information in the form of physical variations on its surface that can be read with the aid of a beam of light. Optical discs can be reflective, where the light source and detector are on the same side of the disc, or transmissive, where light shines through the disc to the be detected on the other side.
Compact Disc Digital Audio, also known as Digital Audio Compact Disc or simply as Audio CD, is the standard format for audio compact discs. The standard is defined in the Red Book, one of a series of Rainbow Books that contain the technical specifications for all CD formats.
A CD player is an electronic device that plays audio compact discs, which are a digital optical disc data storage format. CD players were first sold to consumers in 1982. CDs typically contain recordings of audio material such as music or audiobooks. CD players may be part of home stereo systems, car audio systems, personal computers, or portable CD players such as CD boomboxes. Most CD players produce an output signal via a headphone jack or RCA jacks. To use a CD player in a home stereo system, the user connects an RCA cable from the RCA jacks to a hi-fi and loudspeakers for listening to music. To listen to music using a CD player with a headphone output jack, the user plugs headphones or earphones into the headphone jack.
A credit default swap (CDS) is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt default or other credit event. That is, the seller of the CDS insures the buyer against some reference asset defaulting. The buyer of the CDS makes a series of payments to the seller and, in exchange, may expect to receive a payoff if the asset defaults.
The International Swaps and Derivatives Association is a trade organization of participants in the market for over-the-counter derivatives.
Ripping is extracting all or parts of digital content from a container. Originally, it meant to rip music out of Commodore 64 games. Later, the term was used to mean to extract WAV or MP3 format files from digital audio CDs, but got applied as well to extract the contents of any media, including DVD and Blu-ray discs, and video game sprites.
The Rainbow Books are a collection of CD format specifications generally written and published by standards bodies including the ISO, IEC, and ECMA.
Optical disc packaging is the packaging that accompanies CDs, DVDs, and other formats of optical discs. Most packaging is rigid or semi-rigid and designed to protect the media from scratches and other types of exposure damage.
A purchase order, often abbreviated to PO, is a commercial document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services required. It is used to control the purchasing of products and services from external suppliers. Purchase orders can be an essential part of enterprise resource planning system orders.
The Depository Trust & Clearing Corporation (DTCC) is an American post-trade financial services company providing clearing and settlement services to the financial markets. It performs the exchange of securities on behalf of buyers and sellers and functions as a central securities depository by providing central custody of securities.
Kornelis Antonie "Kees" Schouhamer Immink is a Dutch scientist, inventor, and entrepreneur, who pioneered and advanced the era of digital audio, video, and data recording, including popular digital media such as compact disc (CD), DVD and Blu-ray disc. He has been a prolific and influential engineer, who holds more than 1100 U.S. and international patents. A large portion of the commonly used audio and video playback and recording devices use technologies based on his work. His contributions to coding systems assisted the digital video and audio revolution, by enabling reliable data storage at information densities previously unattainable.
WOW HD is an online store that mainly sells physical copies of pre-recorded music and videos.
An online trading community provides participants with a structured method for trading, bartering, or selling goods and services. These communities often have forums and chatrooms designed to facilitate communication between the members. An online trading community can be likened electronic equivalent of a bazaar, flea market, or garage sale.
Zunafish.com was a US-based website for the trading of idle media materials. The site facilitated the exchange of these items among members, with the community governed by a user-rating system. Trading was conducted in six categories: books, CDs, DVDs, video games, and VHS tapes. Audiobooks on either tape or CD formed a separate category.
Lala was an online music store created by Silicon Valley entrepreneur Bill Nguyen. The service allowed members to legally create online shareable "playlists" of their own uploaded music which could play full length songs for other registered Lala members, purchase MP3s, stream music on a one-time basis or as inexpensively purchased "web songs," buy new CDs from the Lala store, leave blurbs on other members' pages, and participate in the community forums. Lala contracted with major labels and offered a large catalog of albums to stream or purchase. Their home page claimed over 8 million licensed songs available.
A CD-ROM is a type of read-only memory consisting of a pre-pressed optical compact disc that contains data. Computers can read—but not write or erase—CD-ROMs. Some CDs, called enhanced CDs, hold both computer data and audio with the latter capable of being played on a CD player, while data is only usable on a computer.
Book swapping or book exchange is the practice of a swap of books between one person and another. Practiced among book groups, friends and colleagues at work, it provides an inexpensive way for people to exchange books, find out about new books and obtain a new book to read without having to pay. Because swaps occur between individuals, without central distribution or warehousing, and without the copyright owner making a profit, the practice has been compared to peer-to-peer (P2P) systems such as BitTorrent—except that hard-copy original analog objects are exchanged.
ICE Clear Credit LLC, a Delaware limited liability company, is a Derivatives Clearing Organisation (DCO) previously known as ICE Trust US LLC which was launched in March 2009. ICE offers trade execution and processing for the credit derivatives markets through Creditex and clearing through ICE Trust™. ICE Clear Credit LLC operates as a central counterparty (CCP) and clearinghouse for credit default swap (CDS) transactions conducted by its participants. ICE Clear Credit LLC is a subsidiary of IntercontinentalExchange (ICE). ICE Clear Credit LLC is a wholly owned subsidiary of ICE US Holding Company LP which is "organized under the law of the Cayman Islands but has consented to the jurisdiction of United States courts and government agencies with respect to matters arising out of federal banking laws."