Bitcoin Forum

Want to buy one working Lancelot, original documentation & accessories.  Public bid style. 


To assure consideration, submit your [edit] combined entry fee and [/edit] bid by 2013-02-09 06:00:00 according to the transaction time-stamp,
e.g., https://blockchain.info/address/1PRLQuMjk7rR2zW1X3X8kCWHofmkStGzT4 shows 2013-02-05 03:38:34

I may or may not extend the deadline at my discretion.

I will buy from the lowest bid submitted by the (extended) deadline.  The Lancelot is to arrive in Morris, MN 56267 by Feb. 19.  You pay shipping & handling & all expenses to make it so.

If the lowest bid exceeds funds now at 1PRLQuMjk7rR2zW1X3X8kCWHofmkStGzT4, I may declare a failed auction or deposit more funds at my discretion.  I will not return any bids.

I will identify the winning bid by paying approximately 0.05 BTC to the winning address.

Late penalty of 20% per day.  Payment released 24 hours after delivery.
 
To place bid, pay 0.01 X your price to 1PRLQuMjk7rR2zW1X3X8kCWHofmkStGzT4
For example, to bid 15 BTC, pay 0.15 BTC ($3.00 or so)

Post the tracking URL as evidence of shipping and arrival in Morris.  Payment released after receipt of Lancelot.  I will send payment from 1PRLQuMjk7rR2zW1X3X8kCWHofmkStGzT4 to the address that submits the successful bid.

The winning bidder has 2 business days to post the tracking information, otherwise I reserve the right to offer the sale to the next highest bidder.

Escrow is possible, suggest details.

pure scam, can u tag em accordingly mods? :)

?

if someone bids 14 BTC and i bid 15 BTC, the other guy just lost 14 BTC to you, serious scam...

I think the process is pretty good and fair to everyone.  If not, please help me see how it is not good, from either side.

Walk through it again for me.  I think the winning bid in your scenario is 14 BTC, and that you would pay 0.15 BTC in bid placement fees.

Just bid here. The method you use is clunky and unfair to the bidders.

It does feel clunky, doesn't it.  However ... it is a technical test run of a process for a GUI based auction tool.

Without requiring additional overhead, it is self documenting, transparent, irrevocable, archived, and uses the strengths of BTC. 

In addition, the bidder's BTC pay address can be unique for this auction, and the bidder can transfer the bid funds through a mixer and remain anonymous.  Comments can be added to the bid payments.

Your participation in this auction will permanently identify you as a participant in the event that any auction software does materialize.

This method documents that I have 13.9710038 BTC on hand, in the account BTC address for the auction.

Perhaps you would like to give your  2¢ worth regarding the amount of the fee.  I wonder what rate you would accept.  Perhaps 0.001 (2¢), or 0.000 1, or 0.000 01.  We can survey and vote here and now.  Make a payment to 1AjRvwoChLFY7m76Yx6gxeU39gakrEDT8o in the amount of BTC that corresponds to the fraction that you would like to receive on any auctions where you are the buyer.

Nothing stops discussion of the bid amounts or any other drama between participants in this thread. 

I am curious how many call-outs that the receipt of 2¢ is a scam will come forward.

so this will be a scam auction software? why not sending back the failed bids? do you want to call this "fees"?

Are you still thinking that I am going to hold onto 15 BTC per bidder, as you did in your first post?  That is not what my post says, and I invite you to read it again, especially this next part.

If I call these "fees" will you stop calling the process a scam?

It seems pretty clear that this bugs you, but I don't understand why.  Nothing is hidden.  Everything has a structural purpose.  The amounts of money involved are not profitable to me and they are not burdensome to you.  This format makes it easy to automate the process.

yes i did read it afterwards, the question remains: why dont u send the coins back if auctioning is done?
it bugs me cause bidding on an auction dosnt cost you anything, only if you win the auction.
if you want to keep em as "fees", then pls edit ur OP accordingly :)

He's doing the auction quibids style ;)

It could deter potential bidders from bidding simply because they're not prepared to crack open their cold wallets during the bidding process. I must admit that this is quite a novel way of submitting bids, but due to the 'fees' involved it could be counterproductive.

I have edited the original language.

I attended auctions regularly in Texas for several years. 
It does occasionally happen that there is a registration fee.
It often happens that there is a letter of credit required from a bank.
At almost every auction there is some sort of ruckus at the checkout table.

I simply wrote the procedure that I thought mimicked the actual auctions that I have attended.

The registration fee is embodied in the procedure I have set up.  This is overloading the additional use as the bid indicator, and overloading is usually bad coding practice, but there you are.
A letter of credit indicates that the funds are available.  I have paid into a reserved address to show that, for the moment, I have the funds.  These funds have been publicly and significantly restricted.  A letter of credit also does some other things that are not captured in my procedure.
The removal of my funds from currency trading costs me more than the fee or escrow that the bidders are paying.  This merits respect.

The no-return policy comes out of a blend of the following two things.  1)I don't feel a need to have a lot of different bids from the same person.  It bugs me on eBay when I see the same person re-bidding over and over.  I don't like to read it in the summary, and 2) I sure don't want to spend a hour doing tedious returns for inconsequential amounts of money.  It is an opportunity for mistakes and drama.  I think they should just bid what they want.  I'd be happy with an auction with the winning bid and no other. 

I had to think a while to figure out what I think cold wallets are.  That is a point that I did not think of.  What I do is to have two wallets, one is very accessible, but doesn't have much in it.  The other has all the big money in it, and is treated with much more ritual.

I am worried about the turning off potential sellers, and it is unexpected for a seller to put up money to be able to sell.  This will be too weird for a lot of people before the idea catches on.  It may even be fatal.  I hope not.

Wait to bid I have to spend money LMAO this is a joke, I really hope so, cause then that would mean this guy has no clue. You also talk about Texas auctions, while your paying to get a chance to bid on items, they have many items, so it is worth the gamble to take, this is obviously not. Threads like this just show, that people want an easy way to get bitcoins, so sad...