Lealana BTC set and LTC set (correct thread)

[miffman]

I am auctioning off/testing the price of my lealana sets.

Ending date: 29 Jun 2015 7PM forum time

Auction Rules:

>Starting bid: 0.01 BTC
>B.I.N: 7.5BTC
>Increments of 0.01BTC
>no sniping. Each bid close to the finish (~15 min) will extend the auction by 15 min after the next bid.
>I have the right to reject bids.
>There is a hidden reserve. If the reserve is not met, I will either make an offer to the highest bidder or open up separate auctions for each set.

Here is a SHA256 hash of the reserve (in the form xx.xxBTC):

fd5b716af0f5fdbd2d5ce79ebcb556c2ccde8abb4622c2b58ebd7819451c10d1

Buyer pays for shipping. Will calculate shipping after the final bid is accepted.
Escrow is a must. We will use Ognasty for escrow. You will pay the escrow fees.

Here is what you are bidding on:

• bitcoin 5-coin set #63 with COAs
  
  • 1BTC MS64
  • 0.5BTC MS65
  • 0.25BTC MS65
  • 0.1 MS65
  • 0.1 brass, not graded, not funded, no COA

• litecoin 3-coin set #57 with COAs
  
  • 25LTC MS67
  • 10LTC MS67
  • 5LTC MS64

Pics (outdated timestamped pics yes, I can take new pics if needed):

[1715025706]

1715025706

[1715025706]

1715025706

[1715025706]

1715025706

[Blazed]

I bid 2.5BTC

[wheelz1200]

Im in for 2.6

[miffman]

Bump. Still a few days left on this!

[goose20]

@miffman - if the bids hit the reserve, will you announce same and that 'they now will be sold'?

I bid 3BTC


Cheers

[miffman]

@miffman - if the bids hit the reserve, will you announce same and that 'they now will be sold'?

I bid 3BTC


Cheers

Yes. The sets are sold if the highest bidder is at or above the reserve.

Thanks for your bid.

[Dogedigital]

I don't plan to participate in this auction (even though you have nice sets).

I just want to say that this is the best way reserves should be handled! .  Not too many people do this.  Good on you.

"Here is a SHA256 hash of the reserve (in the form xx.xxBTC):

fd5b716af0f5fdbd2d5ce79ebcb556c2ccde8abb4622c2b58ebd7819451c10d1"

[goose20]

@miffman - if the bids hit the reserve, will you announce same and that 'they now will be sold'?

I bid 3BTC


Cheers

Yes. The sets are sold if the highest bidder is at or above the reserve.

Thanks for your bid.

Lol. Of course ^. 

What I meant was will you annouce that the reserve has  been met? For example,  your reserve is 5BTC and you get a bid if 5.1BTC with 20 hours to go, will you state the 'coins are now on the market' etc etc. Or will you keep it private until the auction has ended?

For me, my bidding style will differ is all.

Thanks

[Quickseller]

I don't plan to participate in this auction (even though you have nice sets).

I just want to say that this is the best way reserves should be handled! .  Not too many people do this.  Good on you.

"Here is a SHA256 hash of the reserve (in the form xx.xxBTC):

fd5b716af0f5fdbd2d5ce79ebcb556c2ccde8abb4622c2b58ebd7819451c10d1"

While I do like this idea of using a SHA 256 hash to prove what your reserve price is, I think you have given much too much information for it to be kept a secret. Considering that you obviously won't sell for below the face value of the coins (you might as well redeem them if you were willing to do this) and your reserve is at or below your BIN price, and the fact that you have provided the exact format that the reserve price is listed as, there are only 565 possibilities that someone would need to "guess" before figuring out what your reserve is.

Someone would only need to convert 01.85BTC to sha256, and when that doesn't match try 01.86BTC and so on until converting it matches the hash you listed in the OP.

A more secure way to do this would be to either add a salt or simply say that you have posted the hidden reserve and not disclose the format. At the end of the auction you could disclose that your reserve was "one point seven nine bitcoins!! aka 1.79 BTC " (For example) and someone would be able to easily check to make sure the hash matches the quoted text and the text is clear as to what your reserve is, while it would make it very difficult to brute force your reserve.

[miffman]

Lol. Of course ^. 

What I meant was will you annouce that the reserve has  been met? For example,  your reserve is 5BTC and you get a bid if 5.1BTC with 20 hours to go, will you state the 'coins are now on the market' etc etc. Or will you keep it private until the auction has ended?

For me, my bidding style will differ is all.

Thanks

Ah. Yeah I would announce that the reserve has been met after the action is over.

I don't plan to participate in this auction (even though you have nice sets).

I just want to say that this is the best way reserves should be handled! .  Not too many people do this.  Good on you.

"Here is a SHA256 hash of the reserve (in the form xx.xxBTC):

fd5b716af0f5fdbd2d5ce79ebcb556c2ccde8abb4622c2b58ebd7819451c10d1"

While I do like this idea of using a SHA 256 hash to prove what your reserve price is, I think you have given much too much information for it to be kept a secret. Considering that you obviously won't sell for below the face value of the coins (you might as well redeem them if you were willing to do this) and your reserve is at or below your BIN price, and the fact that you have provided the exact format that the reserve price is listed as, there are only 565 possibilities that someone would need to "guess" before figuring out what your reserve is.

Someone would only need to convert 01.85BTC to sha256, and when that doesn't match try 01.86BTC and so on until converting it matches the hash you listed in the OP.

A more secure way to do this would be to either add a salt or simply say that you have posted the hidden reserve and not disclose the format. At the end of the auction you could disclose that your reserve was "one point seven nine bitcoins!! aka 1.79 BTC " (For example) and someone would be able to easily check to make sure the hash matches the quoted text and the text is clear as to what your reserve is, while it would make it very difficult to brute force your reserve.

Hmm...I considered this but I wasn't sure how much/little information to provide. I was going to leave out the format since that gives away a lot of info but I wasn't too phased if my reserve was exposed since this is more of a price test than a proper auction (even though I am willing to sell if it if the highest bid is good enough for me)

Thanks for the input though, I will definitely keep a salt or hidden format in consideration for next time.

[Blazed]

3.25BTC

[David19]

3.3BTC

haven't won a single auction in past month, lets try few more times. 

[miffman]

Not much time left on this. Bump!

[miffman]

About 13 hours and 50 minutes left.

[goose20]

3.5BTC


 

[miffman]

30 minutes~!

[Mariowot]

3.55 BTC

[miffman]

3 minutes!

[miffman]

3.55 BTC

This was the highest bid.


My reserve was 06.45BTC (which hashed to: fd5b716af0f5fdbd2d5ce79ebcb556c2ccde8abb4622c2b58ebd7819451c10d1)

http://www.xorbin.com/tools/sha256-hash-calculator

I will probably open up a new auction with individual sets soon.


Thank you to all that placed a bid!