Bitcoin Forum

I own 324 direct (not passthrough) ASICMINER shares with address 1kfvp3WayUaNi6qrpWqEG4cwMMAas1zwo (3 entries: 292+29+3).

Up for auction are 44 shares.

Don't panic, if I was bearish, I would sell them all. I need some cash atm.

Starting price: 0.3 BTC
Minimum bid increment per share: 0.01 BTC
No minimum bid quantity.

Please post your bids in the format e.g. 2 @ 0.36.

All bids are binding.

Another bid by the same bidder will replace his previous bid unless stated otherwise.

I reserve the right not to accept bids without giving any reasons. I will also not discuss about that.
E.g. whoever did not honour his bid in SebastianJu's recent auction - please don't even bother to bid here.

I will accept escrow with a reputable forum regular if arranged and paid for by the buyer. But I believe I have already proven to be trustworthy.

Payment is required within 24 hours from end of auction and provision of payment address.

After receipt of payment and winner's BTC address for dividends I will inform the same to friedcat with the request to transfer the shares.

This auction will end earliest on 15/12/2013 at 20:00 h UTC.

Every valid bid placed during the last 5 minutes extends the auction for another 5 minutes (counted from the timestamp of that respective bid).

Forum timestamp applies.

Any dividends received between payment receipt and actual transfer of the shares will be forwarded to the new owner.

In case I missed any info or something is unclear, please feel free to ask.

Happy bidding!  :)

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5 @ 0.25

Meant to be 3 not 5

No valid bid yet.

Two things are working against valid bids:

• you put an initial price at what one could expect as the final bidding value given the exchange prices when you created the auction (if I remember prices correctly) and above it given current prices,
• the auction is 3 days long, there's a risk of share values plummeting during the auction (AM shares are volatile).

Both are scaring bidders away.

Remember that for example it's quite easy to buy on havelock and convert to direct shares, so if your price is already above havelock's there's not much motivation to buy your shares.

It could work in the end if there's a surge in price or if enough people find more value in direct shares. Near the end of the auction there will be less risks so buyers might begin to bid too.
With volatile assets I'd advise to use a maximum of 2 days for the auction (there's no reason for a potential buyer to bid sooner than 2 days before the end and risk buying overpriced shares). And when there are numerous potential buyers (which I assume is the case here) I'd advise to start below the public prices. Competition between bidders usually favors sellers a bit but you must attract enough bidders first.
If you want to attract more buyers while keeping the auction time short you could pre-announce your auction giving a future start date.

Closed.