Can someone explain the process in both of these? I searched the forums but all i could come across were current BIFs and LIFs but i couldn't find how they worked. Thanks!
All the BIF information you need right here: http://alewatcher.blogspot.com/2010/11/new-trader-tips.html
LIF is a variation of the BIF in the alewatcher blog cited above. Lottery it forward. There seems to be two types going on now. 1. make a donation to a cause and you'll be entered into a drawing for a box or boxes of beers. 2. a person will give away free beer or beers to a "winner" who correctly answers a question or series of questions or comes as close as possible (e.g., pick a number between 1 and 500, closest without going over will win a bottle of x). Actually, I've seen a hybrid between trading and BIF/LIF. Someone will offer a box of beers for the first person to acknowledge and email the OP a FedEx/UPS label, so basically you get free beers by paying for shipping.