A thought crossed my mind: Do you folks think setting a maximum bid should be limited to doing it only once?
If you say "my max bid is X" then you would in theory not bid higher than X anyway as that was your maximum bid.
I don't think any max bids should be allowed.
If someone is willing to pay 0.5 BTC for it, then he should bid 0.5 BTC straight out. If he wants to get it cheaper, then he should come back an hour before the auction ends and bid accordingly then.
I've been put off posting bids if they're lower than the current max bid as I doubt the buyer would neglect his bid.
By that logic, if taken by others, you always almost likely to sell your goods at a cheap price.
All it takes is the first or second post to start off with the minimum bid and say max bid to x BTC.
Yes, you can have others bidding him up, and when he defaults they will as well.
Another point, what's stopping people making new accounts just to bid up the auction to only back out once they win?
Just my view of the matter. It's your thread so your call
P.S When are you going to auction some LTC coins? - I keep checking
The auctions thread highly anticipating one!
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