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It's a lot of fun as long as everyone plays fair. It's terribly unfortunate when they don't. If you would like, I could dig up the old chain thread so that you can look at the rules for the chain I did and use whatever you want/need.
I think with any kind of swaps you are going to have your select few bad apples in the bunch, there are alot of people on here, but I dont think that should discourage everyone too much. I got shafted in the anything swap last summer, and once before someone was suppose to swap eggs and never sent their eggs and sort of dropped off, but I have had alot of fun on here too and the majority of the time everything works out good. There is a certain ammount of risk involved but thats to be expected, whats the worse that could happen you are out a few eggs and 6-10 dollars for shipping, its not the end of the world and odds are you will get what you bargained for and be happy with them.
Maybe you should make a new rule where anybody who wants to be involved must have a certain number of posts (maybe this already is a rule, but I missed it?)
We do basically the same thing on another forum (a fish forum) and nobody seems to have been burned yet. Of course, there everybody pays the shipping to have their item sent to them, so maybe that might be part of it as well?