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What is the harm in just using one bitcoin address on my site as a merchant?
I know transaction is public, but if I just have user notify me beforehand that they are sending coins to my address will that solve the problem?
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I know about most of the "traditional" tutorials. I guess I was looking for a more academic yet readable source. I've read the original whitepaper and I guess I'm wondering if there are more articles of that sort that are floating around. |
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I have ready several articles on bitcoins theory; some more illuminating than others. Here's where my understanding is at now:
The way I understand it is that each bitcoins stores a string of every transaction of every coin on the system, the system needs people to verify that the string is correct, it does this by rewarding computers (miners) that verify the system with new coins. And the larger the string gets, the harder it becomes to verify.
I know my understanding is wrong in many ways but could someone maybe point me to a tutorial that they used when they finally "got" bitcoins?
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Just the other day I sent a bitcoin and I got no transaction fee.
Yesterday when I sent one it said "transaction is over the size limit" and I needed to pay .01.
Why does it do this sometimes and other times it does not?
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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.
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Yes I saw, congratulation!
Did u send me your bitcoin address? Not at computer now (mobile) but will send when I get back
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It's not a scam. It's gambling and the rules are clearly written there. You can spend $5 without receiving a single bitcoin.
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. |
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It's not a scam. It's gambling and the rules are clearly written there. You can spend $5 without receiving a single bitcoin.
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. |
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bitcoins would be great if all this "computation work" all these machines do went to something productive like the calculation of weather models, financial systems,...
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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.
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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)
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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.
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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.
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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.
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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!
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YOu can sell things on my site mokimarket.com. I am accepting bitcoins for credits and will cashout credits in bitcoins. Actual tangible items
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I think occupy wallstreet protesters would be smart to embrace bitcoins. Great marketing opportunity when you have a bunch of people fed up with banks.
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MokiMarket.com is an active supporter of the bitcoin movement and we would like to eventually be the first penny auction site that exclusively processes payments through bitcoin. However we need to build up a userbase of bitcoin users on our site. We invite anyone interested in purchasing credits with bitcoins to bid on tangible items to try us out. We are not using bit-pay as the number of transactions we receive through bitcoin is very low; we can handle all transaction through email. Here's what you can do: 1) Contact us through http://www.mokimarket.com/contact.html and let us know your username on our site and how many bitcoins you want to convert to credits, (1 credit=$0.01). Please limit to no more than 5 bitcoins. 2) We will email you back with our bitcoin address, after there are 6 confirmations on the system, we will convert your bitcoins to credits at the current exchange rate as given by https://mtgox.com/trade/sellThat's it, your account get's credited and you can bid on any products on our site. Once we build up a bitcoin userbase, we hope to pay process all payments through bitcoin. Check us out! |
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