Bitcoin Forum

Selling off all my bitcoins 1 by 1 (I have 38 left) for pennies on the dollar: http://www.mokimarket.com/auction_details/37

This is a great deal for beginners, plus you can purchase them using paypal.

My previous two sold for $0.12 and $0.27 which is alot cheaper than what you can get on the exchange. You can check them out here:
http://www.mokimarket.com/auction_details/6
http://www.mokimarket.com/auction_details/20

100% positive feedback and won't stop till all our sold.

Why would you sell them for pennies, when you can sell them on the exchange for more?

Because that is not a real auction. You need to buy credits in order to bid. He is receiving much more than $0.30 for each coin.

There are a lot of such auction sites springing up where you buy credits to bid. But I must say even after buying the credits, this is really a good price for a bitcoin.

My site is very new, so there's basically no competition which results in the bitcoins being sold for very cheap. So yes if I was one of the big sites like quibids, you probably wouldn't get a good deal, but right now you are almost certain to obtain them for less than $1.

Not really expecting to make money on any of these early auction for my bitcoins, I would just like some bitcoin users to try out my site; in exchange you get bitcoins really cheap!

damn I which I could get an IP range of all these scam, or lets say it creative affiliate marketing sites to block them before knowing about them.

This gives me an idea. Aren't they usually piling up at the same host or IT-Provider?

First of all, it's not a scam because I'm selling a relevant product and I have sent every bitcoin sold. Every winner so far has paid much less than what they would have on MtGox so tell me how they got scammed?

Nobody is getting ripped off. It's a marketplace and anyone can create their own auctions. It's just an idea for a website that I think would be good for bitcoins. People introduced new websites on here all the time that are relevant to bitoins, mine is no different.

Yes it is a not scam. It is a fair way for everyone to win a cheap item IF the site not have a autobot that will automatic bid...

I not say that this site have a autobot but many other have.

you site is not a secury. it have a plan text password. so you can just open your db and see the password for all your users... not good :(

My site doesn't auction off high valued items, most of the stuff on there are things I have but I no longer need or use so I don't need to make money on them. Secondly anyone can post auctions and make money from their auctions.

I just thought it would be a cool market for bitcoin users. Less harmless than any of the roulette/gambling sites out there, but the house definitely doesnt have the advantage right now on my site. Check all the ended auctions and you will see that none have been bidded up above retail.

But I ship items with tracking number and winner can leave feedback after transaction for all to see. For virtual items like bitcoins, I send electronically as soon as payment is sent.

saykor can you pm me more about why you say isn't secure? I know I can't see any user's pw in my admin panel. Thanks.

You don't even need to purchase anything so it's definitely not a scam. Just use: "freecredit50"

I seriously doubt my bitcoins will go for higher than $0.30. I'm just trying to market the idea because I think it's cool.

To me Bitcoins is the perfect market for penny auctions because typically the final values of auctions are so low than most payment processors would charge more than what the payment transfer value is. Would definitely solve alot of issues with transaction fees.

pm send

what is your fee if I want to sell something in your site? can I set a reserve price?

maybe this is a option for the admin. I not see where to add freecredit50 :)

In your "user profile" there a link called "Redeem Credit Coupon", click on that.

And our site is not reserves, plus free shipping on all items. I know that sucks for sellers right now, that's why we recommend just posting really cheap stuff or virtual goods. Most of the bigger item stuff if posted by me.

You can choose how much you want to charge per bid. Anywhere from 1 cent (1 credit) to up to $10 bucks (1000 credits)

Selling items is free. Seller receives final bid price plus 20% of bidding commission. Right now we are giving sellers all bidding commission as promotion.

Takes less than a minute to create a penny auction on our site. I don't think you will find a site that makes it this easy to creat a penny auction anywhere else.

It's not a scam. It's gambling and the rules are clearly written there. You can spend $5 without receiving a single bitcoin.

but you can spend 5 cents and receive 5 bitcoins...
cannot everyone to win.
for each + have -

whem you trade in mtgox what happen? if you are on profit then someone is on lose. so mtgox trade is a gambling too?

i very like his idea.

I not gambling because the outcomes can be deterministics if the bidder chooses; gambling involves chance. This is a marketplace because you can be on either side of the transaction (You can sell or buy items). This is a skill based game with many strategies.

But I'm not interested in making money from the items I post (Obviously eventually I would like the site to be profitable, but for now it would be nice to cover shipping). I'm just interested in spreading the idea of an alternative marketplace amongst bitcoin users. This platform could be used to trade bitcoins or other tangible products.

This isn't like any of these other penny auctions sites you see. Users can create the penny auctions, there is no other site like this anywhere. You can auctions new or used good, ideas, services (as long as it's legal and non-vulgar). Sometimes sellers can make more money, sometimes they lose. Just like any market you don't always win, the market decides.

20% fees is way to high i think, can you make a website like ebay or silkroad pls, this kind of "auctions" is all over the web already and ppl who know how they work try to avoid them

I won't disagree with that, but right now we are giving sellers who receive positive feedback on their auction 100% of all commissions.  And we could significantly reduce those fees to maybe 2-3% if be had enough bitcoin users so that we could 100% adopt bitcoins as payment processor. Transaction fees plus chargeback risk are taken by the site so it's not a huge percentage given all those costs when you add them up.

And yea there are alot of sites, but you wont find one that lets user's create penny auctions like ours. Nor one that will accept bitcoins for credits. Most of the site you see offer big ticket items that they can't afford to lose money on, most stuff on our site is small value stuff but still pretty valuable and a great bargain.

I just win one bitcoin in his auction: http://www.mokimarket.com/auction_details/37
i pay it and waiting to receive it.
thanks

Yes I saw, congratulation!

Did u send me your bitcoin address? Not at computer now (mobile) but will send when I get back

Just sent them!

Thanks for trying out my site. I was surprised it got bidded up so high...even though it still cost you less than exchange. Will be posting a lot more soon.

I receive my new bitcoin :D
Thank you

More bitcoins posted:
http://www.mokimarket.com/auction_details/55
http://www.mokimarket.com/auction_details/56
http://www.mokimarket.com/auction_details/57
http://www.mokimarket.com/auction_details/58


Will have bitcoin auctions going on every day this week. :)

If you want to purchase credits for site using bitcoins pm me; I'm the only penny auction site that's accepting them. In the meantime, I'm working on installation of the bit-pay into my system and will introduce some really cool stuff to the site pretty soon.

Auction ending in less than half hour: http://www.mokimarket.com/auction_details/55

Last coin cost last winner only $0.64. Another auction ending today in an hour: http://www.mokimarket.com/auction_details/56

Another auction ending soon: http://www.mokimarket.com/auction_details/57

Last winner only paid 19 cents, http://www.mokimarket.com/auction_details/56

@mokimarket hey, i registered with your service and now i keep receiving unwanted email messages in my inbox, could you please be so kind and put an unsubscribe link in those emails if it's not to much hassle ?

Hey sorry about that, weve been having problems with our newsletter system, It should be fixed now, if you get any emails again please let me know so I can recheck the distribution.