Almost $200k worth of BTC?  

See, this is what I'm talking about - people would vastly inflate the amount they wanted to buy.

Snoozing? Losing?
Check you're clock! Maybe you have noticed that we can bid till a certain time and i am not too late.

I just found out about this ipo...a hour ago...i quickly did some reading and decided to send some coins. (i found out because i noticed all the other shares were down and i was trying to figure out the reason)
Sorry, i rarely visit this sub forum. I'm late. So what? They told us till what exact minute we can buy and i should be allowed to buy (bid) till that exact minute!

You people are complete asses. You laugh at me because i'm cut off from bidding. How sick is that?

If he is seriously blocking people from sending coins then that is seriously messed up.
I want to buy shares just like the rest of you. I'm allowed to buy shares for 1.5 hours and he is stopping me.

Just temporally increase the number of confirmations needed to deposit BTC, and people can't then load up their account in order to inflate their share.

Don't understand what this means. Last night I bid 1000 shares at .001 for 1 BTC. What does this mean for me now?

Also, if you think gaming the system is wrong, then they shouldn't have setup the system like this.

Yep, they got their bids in and now want to make sure no one else does.

Hi all, I'm posting this somewhat blind.  (haven't caught up with the last 10 or so pages...)

TheSwede75 and I have talked a bit and here's what we've come up with:

- 3 PM CST/4 PM EST is the cutoff for bidding.  (EDITED!)
- Sometime shortly after that time I will lock the asset.
    - All bids below 0.001 will be thrown out.
    - All bids posted after the cutoff will be thrown out.
- We will then add up all the bids and use the total to create a ratio of number of shares ordered to number of shares available.  (eg, 9,000,000 ordered, 7,000,000 available gives us a ratio of 0.777)
- We will multiply everyone's orders times the ratio and extract a whole number of shares on a per order basis.  The orders will then be filled according to the result at 0.001 BTC.  (regardless of what they actually bid.)
- This will leave some number of shares available due to rounding down to a whole number on every calculation.  We'll figure out a way to deal with these fairly.  Most likely recipients will be chosen at random from the pool of bidders but they will be a very small portion of the overall issue.
- 8 PM CST/9 PM EST we remove the admin lock and everyone can start trading.

Wednesdays are already full days for me with ASICMINER-PT related duties and my day job.  So please be patient today.  Responses to customer service and related requests will unfortunately be delayed significantly so that I can write and test all the code necessary to execute the plan above.

Cheers.

Here is what I'd do in your situation:

1) Reset all bids > 0.001 to 0.001
2) Set a cap on the number of shares each person can get
3) After the cap is in place, if it's still over 7mil then scale back orders based on % of orders placed.

Right now there are only about 11m orders placed > 0.001, which means if no new orders come in everyone gets 63% of what they asked for.  With a cap, it should be a pretty big portion of what everyone, except the huge orders, wanted.

Why would they want to exclude people who signed up just to buy this stock?

just limit every order to 5k to 10k problem solved

everyone gets a piece of the pie

Quoting for reference

The problem is that others have already moved their bids following Burnside earlier statement.

I would like to see a sell order of 7,000,000 shares @0.001 on the Asks side right from the beginning.

There is nothing special about the initial ask an issuer makes in their IPO.  Thus the bids will get filled auction style, first by price, then at each price by whomever got their order in soonest.

I understand there are questions around the fairness of this, but I don't have time to rewrite anything special.

It seems to me that this method of filling the ask is in the best interest of the company filling the IPO anyway?

Cheers.

4986223 share filled @ &> 0.001
crazy.....

I mean, what happens if you have an early order at 0.001, and enough bids come out at or above 0.001001 to buy up all the shares?  In that case would it be better to cancel your order and put in a new one at a higher price, or keep your bid in order to stay at the top of the queue?