Bitcoin Forum

Anyone know of anything like that?


I think the bitcoin community might be into the idea of penny (or satoshi) auctions

yep definitely. Something like quibids and listia could be a great idea.

+1 for listia

My GF would like the idea

Would anyone be interested in working on this project with me? Would need investors and a couple programmers.

I can act as staff, but I only have a hundred or so in bitcoin right now

So, you would buy one satoshi for 60 cents worth of bitcoin?   Doesn't make sense if you understand how Quibids works.

No the exacts would certainly have to be worked out, i was simply putting out the basic concept.

Mokimarket used to do this.  They shut down because it wasn't successful enough.  Not enough bids for them to make money.

Great point

well i think it sounds like there is interest! do like one auction a day that way it is guaranteed to make money

You guys are an awesome focus group

thanks! Why do you say that though?

The amount of useful feedback that the thread is receiving just from a few posts.

That site is such a scam! Too many bots, guess you need to use bot when starting up and building a user base though.

See i never have actually used quibids, i just like the idea, with additional rules added.

Mokimarket didn't have bots unless it was in the last month or two they were open..

There are a couple of current penny auction sites for bidding on cryptocurrency but I don't know of any for bidding on items that use cryptocurrency instead of usd

The way those sites work is based on activity.

Unfortunately for one of those sites to be extremely successful it needs to be appear active. Quibids has enough traffic to appear active without the requirement of bots. Luckily they rode penny auctions up so I don't believe they ever did use the unethical approach of bots (I may be wrong).

Because these sites need to appear active, and there is a lot of competition, naturally webmasters resort to bots to increase profit and make the website look active. It's unethical, and a horrible business model to have, but the only way one of these sites would work or become remotely popular now-a-days.

I have seen penny auctions work rather well within niches, but only when there is a community backing it. For example, Paintball -> http://www.markerbids.com/

I don't think the Bitcoin community would be active enough within this, as well as it's already been demonstrated, and failed.

Unless you want to be unethical within production for one of these sites, I recommend you don't do one of these sites until Bitcoin is popular enough... At which point Quibids may be already allowing payment via Bitcoin.

Thank you for the input

Idk, I went there, I signed up. I checked out some shit. Found out ebay, craigslist, and a bunch of other websites were cheaper..so fuck them. Also, the whole token thing. 1 token doesn't equal 1 dollar. And below it says they have employees price hiking for them..