Thank you for pointing it out. I will move the thread to a more appropriate section and would like to ask the moderators to close this one.

-

Hello everyone!

After two days of the ongoing auction and a discussion with the team, I regrettably have to announce the closing of this auction. This is mainly due to two reasons:

1. Over the course of the past several weeks, we have been searching for people who want to work with the Foundation, and it turned out that there are quite a lot of them who accept XDN payments for their services, so we'll need those coins for the Foundation's use.
2. The lack of feedback during this auction has led us to believe that there is simply not enough demand in the community for the auction at the moment.

We will hold more auctions in the future, if we'll get a hold of more XDN and there will be demand for it, but right now we unfortunately have to cease such activities for a time. Thank you for your attention.

Hello everyone! The auction has started, you can place your bids now.

Hello everyone, I have an announcement to make:

The Foundation is launching its third and last auction to sell the XDN collected during the fundraising campaign. This time we are selling in small lots, so everyone who wanted to buy some but were unable to, due to the size of the lots, are welcome here: https://bitcointalk.org/index.php?topic=1115626.0

Hello everyone, I have a quick announcement:

The Foundation is launching its third and last auction to sell the XDN collected during the fundraising campaign. This time we are selling in small lots, so everyone who wanted to buy some but were unable to, due to the size of the lots, are welcome here: https://bitcointalk.org/index.php?topic=1115626.0

Hello everyone!

I'm Xian from the DigitalNote (XDN) Foundation. Over the course of our recent fundraising campaign we have accumulated 50M XDN, which we are now converting into BTC for further use via auctioning them off here at the forum. We have already sold 32M XDN and now are launching an auction for the last 18M.

We have received multiple suggestions from several people, including one of the XDN devs dNote, who have said that we should decrease the size of the lots to enable more people to participate in the auction, so now we'll allow you all to personally determine what share of the stake you wish to buy. Here are the terms of the auction:

1. We are auctioning off 18 million XDN. The auction starts at 9 AM UTC on Monday, July 13th.

2. The starting price is 90 satoshi per 1 XDN. The size of the stake you want to buy is determined by yourself in the same post where you make your bid, for example: "2M XDN @ 95 sat".

There are limits: the stake has to remain between 1M and 5M XDN per person.

3. To prevent suspicious/fraudulent attempts at price manipulation, it is mandatory for all participants to register before making their bids. To register for the auction you have to:
- Deposit 0.1 BTC to the Foundation's official BTC wallet: 126HUywBNBzJB68FawtnZ9aq9Y2CwXMu8J. All deposits will be returned to their owners in full, upon the end of the auction.
- PM me with a link to the transaction with your deposit and express your intention to take part in the auction.
Users don't have to register in advance: you're free to register and make bids at any time until the end of the auction. All bids that were made without registering with me will be considered invalid.

4. After the auction starts on Monday, everyone who has registered are free to make their bids here, in this thread. The auction will last for 4.5 days until 4 PM UTC (or 12 noon EDT) July 17th, upon which moment the lots of different sizes will be transferred to their respective bidders at their bid prices. The bids with highest prices will be served first until there are no more XDN left to hand out.

Thank you for your attention and let's start.

All right, gentlemen. Since the 104 bid made by DuckAuctionWinner was placed after the ten-minute window, the lot goes to TwinWinNerD (again!) at a price of the last valid bid, which is 103 satoshi per XDN. Let's move the discussion to PM.

Hello. According to the rule n.5 your bid has extended the auction for ten minutes, until 4:09:53 UTC. If nobody places a bid until that time, the lot will be yours.

Hello everyone!

Just wanted to give you a heads-up that the 12M XDN auction ends today in about 3.5 hours.

https://bitcointalk.org/index.php?topic=1105520.0

Hello everyone!

I wanted to point out a mistake in the OP: the end time for the auction was stated incorrectly for the UTC timezone. The EDT time is correct: 12 noon, and the correct time for UTC is 4PM, so the auction ends in 5 hours and 20 minutes.

If you still haven't made your bid, hurry before the auction ends.

Yes, you have to make a deposit for your bids to be valid, regardless of your conduct in the past auctions.

Sure, got you. Is it OK to just leave links to the Foundation's threads here from time to time, like once a week?

Got it, thanks. Doubled it there: https://bitcointalk.org/index.php?topic=1105520.0 The mod can close this thread now.

Hello everyone!

I'm Xian from the DigitalNote (XDN) Foundation. Recently we have held an auction for 20M XDN, that has ended with TwinWinNerD successfully taking the whole lot for 20.2 BTC. We have 30M XDN more to sell, that we have collected during the Foundation's crowdfunding campaign, but instead of selling them all together in one huge lot, we will divide it into smaller parts, as was suggested by dNote here: https://bitcointalk.org/index.php?topic=1097352.msg11700275#msg11700275

So right now we are opening the second round of the auction. Here are the terms of the auction:

1. We are auctioning off a lot of 12 million XDN. The auction starts at 9 AM UTC on Thursday, July 2nd.
2. The starting price is 80 satoshi per 1 XDN, which amounts to 9.6 BTC for the whole lot. This bit was made by the user hodlbananas in this post: https://bitcointalk.org/index.php?topic=1072773.msg11753795#msg11753795
3. To prevent suspicious/fraudulent attempts at price manipulation, it is mandatory for all participants to register before making their bids. To register for the auction you have to:
- Deposit 1 BTC to the Foundation's official BTC wallet: 126HUywBNBzJB68FawtnZ9aq9Y2CwXMu8J. All deposits will be returned to their owners in full, upon the end of the auction.
- PM me with a link to the transaction with your deposit and express your intention to take part in the auction.
Users don't have to register in advance: you're free to register and make bids at any time until the end of the auction. All bids that were made without registering with me will be considered invalid.
4. After the auction starts on Thursday, everyone who has registered are free to make their bids here, in this thread. The auction will last for 4 days until 8 AM UTC (or 12 noon EDT) July 6th, upon which moment the lot will be transferred to the highest bidder at the time.
5. To allow for a more fair price establishment on the lot (regarding which we have received several complaints), we are establishing the minimum price increment as 1 satoshi per XDN and allow for extending of the auction for 10 more minutes after each consecutive bid: what that means is that if someone makes a last-minute bid, the time term of the auction is automatically extended by 10 more minutes, allowing anyone else to make their own bid and extend the auction for 10 minutes more, until someone places a bid which nobody will overbid within the 10-minute window.

Thank you for your attention and let's start.

Hello everyone!

As promised, here is the second auction round with a 12M XDN lot: https://bitcointalk.org/index.php?topic=1105520.0

hodlbananas has already made their bid, and we're looking forward to other people placing their offers as well!

Hello everyone!

I'm Xian from the DigitalNote (XDN) Foundation. Recently we have held an auction for 20M XDN, that has ended with TwinWinNerD successfully taking the whole lot for 20.2 BTC. We have 30M XDN more to sell, that we have collected during the Foundation's crowdfunding campaign, but instead of selling them all together in one huge lot, we will divide it into smaller parts, as was suggested by dNote here: https://bitcointalk.org/index.php?topic=1097352.msg11700275#msg11700275

So right now we are opening the second round of the auction. Here are the terms of the auction:

1. We are auctioning off a lot of 12 million XDN. The auction starts at 9 AM UTC on Thursday, July 2nd.
2. The starting price is 80 satoshi per 1 XDN, which amounts to 9.6 BTC for the whole lot. This bit was made by the user hodlbananas in this post: https://bitcointalk.org/index.php?topic=1072773.msg11753795#msg11753795
3. To prevent suspicious/fraudulent attempts at price manipulation, it is mandatory for all participants to register before making their bids. To register for the auction you have to:
- Deposit 1 BTC to the Foundation's official BTC wallet: 126HUywBNBzJB68FawtnZ9aq9Y2CwXMu8J. All deposits will be returned to their owners in full, upon the end of the auction.
- PM me with a link to the transaction with your deposit and express your intention to take part in the auction.
Users don't have to register in advance: you're free to register and make bids at any time until the end of the auction. All bids that are made without registering with me will be considered invalid.
4. After the auction starts on Thursday, everyone who has registered are free to make their bids here, in this thread. The auction will last for 4 days until 8 AM UTC (or 12 noon EDT) July 6th, upon which moment the lot will be transferred to the highest bidder at the time.
5. To allow for a more fair price establishment on the lot (regarding which we have received several complaints), we are establishing the minimum price increment as 1 satoshi per XDN and allow for extending of the auction for 10 more minutes after each consecutive bid: what that means is that if someone makes a last-minute bid, the time term of the auction is automatically extended by 10 more minutes, allowing anyone else to make their own bid and extend the auction for 10 minutes more, until someone places a bid which nobody will overbid within the 10-minute window.

Thank you for your attention and let's start.

Hello again guys!

We have conducted the exchange of XDN for BTC as you can see on the Foundation's official wallet: https://blockchain.info/address/126HUywBNBzJB68FawtnZ9aq9Y2CwXMu8J

Tomorrow I will be returning the deposits to people who didn't win in the auction and then we'll announce the next auction.

Cheers.

And the lot of 20M XDN goes to TwinWinNerD at a price of 101 satoshi per XDN, or 20.2 BTC for the whole lot.

Congratulations! Let's get in touch in PM to exchange the money.

All right, gentlemen, let's all calm down ourselves.

The purpose of this, or indeed any other auction is to establish a fair price on the lot in question, NOT allow the fastest bidder to take it all. Moreover, in one of my previous posts in this thread I have explained that we are trying to weed out profiteering and speculation and only allow the joining of big investors who see potential in the XDN and its Foundation. Besides, if we'll keep making multiple bids with decimal increments, the thread can very well come under attention of the moderators and get closed because of spamming.

That is why I believe 1 satoshi is a fair and reasonable minimum increment.