For the auction bidding, I was trying to say that the price you bid would be for the whole thing (the physical block, plus the 26+ BTC in it...) This means that the market value of the item should be at least 26 BTC... But in any case, we will start the auction at 1 BTC, as a form of sincerity.
The BTCC Mint store is selling the Bitcoin Blocks for 30 BTC, and all of those block are under 26 BTC in size.
So I wouldn't be surprised to see this sell for over 30 BTC, but that's really up to you guys, to see who wants this the most!
Again, this is a special treat to this Bitcoin Talk Forum community, to offer you this very special large block, #418,402.
I will suggest increments of 0.10 BTC.
As for sniping, what are ways of disallowing it? Are you suggesting that we require minimum "cool-off" time after the last bid, for that bid to be valid as the final bid?
thanks,
Bobby
The way to prevent sniping is to say every bid made within X minutes before the end of the auction extends bidding by Y minutes.
For example, every bid within 5 minutes to the end, extends the auction by 10/15/20 minutes...
However that could drag on forever, I like more when bidding ends at time x and get it over with. Bid within that time and you have a chance to win.
See what others say too as many don't like sniping. Seen that BTCC is a Chinese company how would Chinese people bid on this?
Maybe you could try some Chinese Auction style (if any different), curious to see if there are alternatives we could try on this forum for such an exciting and worthwhile item.
![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
I will also be surprised if this would sell for 30BTC or over but you never know. It would be a good test.
Increments of 0.10 sounds reasonable for such a valuable item. I also like the no reserve price for the whole thing, that will make the bidding even more interesting.
![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
Also yes another thread would be nice, with pictures and terms of the bid as well as start and end date and time. I suggest using the forum time so it's easier for everyone to figure it out.
Add details on if winning bid is not paid within x hours, second bid will be taken in consideration, and so on.
One important note would be on shipping, first, does the auction winning bid include shipping to whatever country? Are there any country excluded? (Maybe US?)
Second, how is BTCC going to declare the shipping of the item? With the total value of BTC? Insured... Or just the value of the block?
Because import taxes could be huge depending on the choice above. Also important for people who are interested to bid (as well as buy in-store) so they know what to expect and are ready for eventual extra charges.
Any extra info you could add to the auction OP would be appreciated.
Looking fwd to it!
![Grin](https://bitcointalk.org/Smileys/default/grin.gif)