Do you think its a good idea to do this? its for my website

In order to get this forum rolling i'm offering money as an incentive to post.
Basically, the person with the most points by the end of the month will receive 50 dollars from me. This contest will go on each month until i run out of money

Points will be awarded as followed:
-1 point for every new topic you create ( besides teacher discussion board)
-1 point for every post you make
-2 points for every referral you make (no SPAM)
-2 points for every new review you start on the teacher discussion board (starting a new thread)


Rules are:
No spamming posts
No creating fake refferal's, I WILL know. Refferals have to be real people

NOTE THIS CONTEST HAS NOT BEGUN YET. STAY TUNED FOR MORE INFO.

I'm going to be doing a lot of manual labor for this project. I'll print out 1000 flyers and put them under the doors of the dorms. I tried just putting flyers on elevators and lamp posts but it didnt work too well. I'll probably buy facebook flyers aswell. Maybe even give out free t-shirts after 500 posts.

Whatcha'll think about this idea?

I don't recommend paying for posts. You want your members to post at your forum because they want to be apart of your community, not for money. We've brocken this down many times on the Earners Forum and I'm sure we can all agree that It's best to a) Prelaunch your community to about 10 members to get posts going in each subforum and b) Start a promotional contest such as the T-shirt giveaway like you mentioned above to get members once your live. Like the Earners Forum It may also Interest you to create private forums for members at a certain post count or user level or even a rewards point system for extras like colored usernames. Start lots of interesting topics that can be debated, one I've found to be effective.

yeah i'm probably just end up giving away tshirts instead of money