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rsjWgUVRCyhm8AC3dQJgQ4EoQuNnYifEGQ
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How much would someone be willing to pay for this domain name?
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I see... like pisobid.com! but, if not many people bid and for example I win an XBOX 360 for just 0.001 BTC you would be out of business in no time  Yes that's the risk, which is why many penny auction sites ARE scams because they can't afford to give away a $500 product for pennies. Thats why my site is mostly filled with used products, every now an then I post new inexpensive stuff, but i guess my offering arent attractive enought to generate interest. |
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How many people in this community would be interested in a Bitcoin penny auction site? For those of you not in the know, here is how such a site works: - User buys bids with Bitcoins, usually priced at a small amount so multiple bids can be bought with 1 Bitcoin
- Every bid placed on an item raises the item's current price by 1 penny, or in this case a bitcent
- Winner of auction pays final price of item
- Item is delivered to user
Items put up for auction would be a mix of gift cards, additional site bids, Bitcoins, and potentially physical items. Obviously, the process of buying bids to place on an item generates the primary revenue for the operation the site. It may be misleading to some when they see a user winning 20 bitcoins for some ridiculously low amount, like 1 bitcoin. Thanks, I would like to hear the interest of the community. Sounds like my site mokimarket! The problem is that any penny auction site is basically considered a scam (even though anyone that has used my site know hows easy it is to win bitcoins), so you can't really get an active userbase. I've had my site up for a year and a half and I would say only 10% of auctions are profitable. I tried to make it a marketplace by allowing users to post their own penny auctions but that didnt really catch on either. Seemed like a good idea at the time haha! I don't really understand why people look at it that way either. It's a form of gambling/entertainment, just like playing the slots or putting some chips down on the poker table. I suppose when it is not marketed as such, people could call it a scam. I know, if I had a lottery or slot machine site where the house has a clear edge, people wouldnt call it a scam. But a penny auction site with no clear edge is most definitely a scam! O well. |
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How many people in this community would be interested in a Bitcoin penny auction site? For those of you not in the know, here is how such a site works: - User buys bids with Bitcoins, usually priced at a small amount so multiple bids can be bought with 1 Bitcoin
- Every bid placed on an item raises the item's current price by 1 penny, or in this case a bitcent
- Winner of auction pays final price of item
- Item is delivered to user
Items put up for auction would be a mix of gift cards, additional site bids, Bitcoins, and potentially physical items. Obviously, the process of buying bids to place on an item generates the primary revenue for the operation the site. It may be misleading to some when they see a user winning 20 bitcoins for some ridiculously low amount, like 1 bitcoin. Thanks, I would like to hear the interest of the community. Sounds like my site mokimarket! The problem is that any penny auction site is basically considered a scam (even though anyone that has used my site know hows easy it is to win bitcoins), so you can't really get an active userbase. I've had my site up for a year and a half and I would say only 10% of auctions are profitable. I tried to make it a marketplace by allowing users to post their own penny auctions but that didnt really catch on either. Seemed like a good idea at the time haha! |
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I'm pleased to announce that we have partnered with an Ebay powerseller to offer a larger variety of products on the site. This will help to relieve some of the pressure off us posting items and at the same time offer you guys more attractive products. Stay tuned  Thanks to everyone that has supported the site. This is more of a hobby for me than a business and it's been fun way to learn more about web development. Proud to say that we now have 1000+ registered users! |
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I don't have the time to manage it like I would like. Open to all offers. PM me if your interested.
Some site stats
Approx: 1000 users
10% of users actually purchase credits
Systems is pretty much completely automated
Hosting fees is $50/month, which we were always able to cover from revenues
30-50 unique visitors daily
It's not a big site, but it is a novel not turnkey site that has alot of potential. It's the only site that allows users to create their own penny auctions. We put alot of work into it and to me it was a fun hobby that I'm ready to walk away from. We have a great reputation, have sold 100s of items and have gotten very positive feedback.
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Kava is a proven relaxant with thousands of years of history and safety in use behind it. It is a legal herb that induces slight euphoria and relaxation when consumed. The traditional Pacific island drink is consumed by missing the plant with water. A celebratory "Bula!!" chant in then shared before drinking. If you looking for something fun and different in your life. Try Kava! http://www.mokimarket.com/auction_details/1800 |
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Kava is a proven relaxant with thousands of years of history and safety in use behind it. It is a legal herb that induces slight euphoria and relaxation when consumed. The traditional Pacific island drink is consumed by missing the plant with water. A celebratory "Bula!!" chant in then shared before drinking. If you looking for something fun and different in your life. Try Kava! http://www.mokimarket.com/auction_details/1788 |
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